🕐15.04.10 - 06:43 Uhr
WHITE CANYON PURCHASES HISTORIC URANIUM DATABASE TO REDUCE DRILLING REQUIRED FOR RESOURCE DEFINITION
White Canyon Uranium Limited
ASX Announcement
15 April 2010
WHITE CANYON PURCHASES HISTORIC URANIUM DATABASE TO REDUCE DRILLING
REQUIRED FOR RESOURCE DEFINITION
Key points:
- White Canyon has purchased the historic records of Utah Power and Light
from
Integrated Production Resources Company,
- UPL conducted exploration in the White Canyon District up to 1982,
- Complete records will reduce the drilling required to complete resource
work
on four of the Companys six projects
April 15, 2010 -- Utah based uranium producer, White Canyon Uranium Limited
(ASX: WCU, TSXV: WU) ("White Canyon" or "the Company") is pleased to
announce that it has negotiated the purchase of the exploration records of
Utah Power and Light (UPL) a dominant uranium explorer in the White Canyon
district of Utah, USA, from Denver company Integrated Production Resources
Company (IPR).
The purchase of the records is a cash (US$25,000) and securities (110,000
ordinary shares) transaction for a combined value of US$50,000.
A complete
set of records constitutes a database that will provide sufficient data of
a suitable quality and reliability to be the basis of future resource
estimations, significantly reducing the requirement to repeat historic
drilling.
The transaction is subject to the TSX Venture Exchange approval.
UPL explored throughout Utah and were the main company active in the White
Canyon District (WCU projects: Daneros, Lark Royal, Spook, Geitus, Hideout
and Blue Jay) in the later stage of the last century withdrawing from the
area in about 1982.
The Company had access to the data in map form but without the complete
records the contained information could not be used to produce an estimate
of known mineralisation to reporting standards.
About White Canyon Uranium:
White Canyon is a US focussed uranium producer holding 100% interest in the
advanced Thompson, Daneros, Lark Royal, Geitus, Blue Jay and Marcy Look
Projects in south‐east Utah, comprising of over 14,000 acres of
mining claims and mineral leases.
The projects contain historically defined
high grade uranium deposits, however the deposits are not JORC or
43‐101 compliant.
To download a full copy of the announcement please click here
http://esp.gewru.com/em/message/email/view.php?id=572493&u=15636
Ends
For further information please contact:
Peter Batten
Managing Director & CEO
White Canyon Uranium Limited
Tel: +61 8 9381 9192
Website: www.whitecanyonuranium.com
David Tasker
Professional Public Relations
Tel: +61 89388 0944/ +61 433 112 936
Em:
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