9 January 2014
Vancouver, BC - Declan Resources Inc. ("Declan" or the "Company") (TSX-V: LAN) and its options partner Lakeland Resources Inc. (TSX-V: LK) (FSE: 6LL) ("Lakeland") provide information on the current status of the Gibbons Creek uranium project ("Gibbons Creek"). The project site is located on the northern edge of the Athabasca Basin in Saskatchewan.
Main results
• Successful completion of a RadonEx ™ soil measurement at Gibbons Creek with a maximum value of 9,93 pCi / m2 / sec. (this value is considered to be one of the highest RadonEx values recorded in the Athabasca basin so far).
• Soil prospecting and sampling confirms the presence of a historic zone of radioactive boulders in the Gibbons Creek Property. The results identified eight boulders with uranium values above 1,0% U3O8 and up to 4,28% U3O8 respectively.
• Successful completion of a DC resistance measurement with approximately 38 kilometers of length. Robust resistance trends are largely correlated with historical alterations and mineralization.
"We are pleased to present these results today. They confirm the potential for significant uranium discovery in the Gibbons Creek Uranium Concession. Of particular interest are the extremely high radon values determined during the RadonEx measurement. As far as we know, these are the highest levels ever detected in the Athabasca Basin, "said Wayne Tisdale, President and CEO of Declan Resources Inc.
Gibbons Creek is made up of five contiguous claims that together cover an area of 12.771 hectares and are located less than 3 kilometers from the settlement of Stony Rapids. The property is adjacent to the Black Lake project, which was jointly developed by Uracan Resources Ltd. and UEX Corporation. The Gibbons Creek property, which is part of Lakeland's 35.463 hectare Riou Lake concession, is in an area where Lakeland has focused its field work.
Declan has the opportunity to participate in 70% of the Gibbons Creek uranium project. To do this, the company must invest a total of 6.500.000 $ in several exploration phases over a four-year period. In addition, a cash amount of 1.500.000 $ and the issue of 11.000.000 shares are required.
RadonEX measurement
Lakeland contracted RadonEx Ltd., which had been very successful in the discovery of the Patterson Lake South uranium deposits with the EIC (ionization chamber), to conduct radon measurements on the Gibbons Creek property. A total of 592 samples were taken from the Gibbons Creek property, with a particular focus on an area of historic drilling and other prospective uranium targets. Measurements were taken along lines separated by 200 meters, samples were taken at 50 meter intervals. As part of the measurement, a maximum value of 9,93 pCi / m2 / sec. be achieved; nine samples were above a value of 3,2, the background value was 1,3. The peak of radon measurement coincided with a historically defined uranium-in-soil anomaly. On the one hand, the results confirmed current drilling targets selected on the basis of historical results and, on the other hand, defined new high-level targets.
It should take place as soon as possible another Radonmessung to further expand these positive results.
Scarring and sampling
The exploration experts of Dahrouge Geological Consulting Ltd. were able to prove the radioactive boulders defined in the past in the Gibbons Creek Property. At that time Eldorado Nuclear found chunks of sandstone with uranium values of up to 4,9% U3O8.
Recent exploration has delineated an area of approximately 1,2 km x 1,0 km in size, containing radioactive boulders. The investigation identified eight sandstone boulders with uranium values above 1,0% U3O8. The maximum value was 4,28% U3O8. In addition, 11 samples were identified with a uranium content via 0,2% U3O8. The remaining 9 boulders sampled in the said zone had less than 0,2% U3O8. Many of the mineralized chunks contained anomalous nickel, arsenic, lead, and cobalt values.
The bedrock from which the boulders originated could not yet be clearly determined. In the next exploration period, glacier studies will be conducted to gain more insight into their origins. The boulders have a diameter between 15 and 80 centimeters when measuring the longest value. The altered sandstone lumps are for the most part slightly edged to rounded. The relationship between sandstone blocks and bedrock is approximately 100: 1, which varies over the entire area of the concession. In the project area, two separate groups of glacier poles were detected, the first at an angle of approximately 235 degrees, the other approximately 275 degrees.
Geophysical results of soil measurement
Patterson Geophysics Inc. of La Ronge, Saskatchewan, conducted a pole-dipole DC resistance measurement on the Gibbons Creek property for approximately 28 kilometers. The data from this measurement is intended to map the extent of bedrock alteration discovered by Eldorado Nuclear through drilling already between 1978 and 1980. Records from historical drilling report "extensive basement alteration up to 72 meters in length" (Evaluation Report 74P04-0024, p. 20). According to the description, the alteration in the bedrock is "soft, strongly altered and interspersed with extensive hematite, chlorite and clay inclusions".
Resistance measurement data was evaluated by Livingsky Geophysics of Saskatoon, Saskatchewan. Resistance measurement data was processed into a 3D model. Deep layer images were taken at different levels in order to map resistance at specific depths. The unconformity is about 70 meters at the northern end of the measured area and about 120 meters deep at the southern end. At a depth of about 100 meters below the surface (depth intersection 150 meters asl), there is a trend in the east-west direction with low resistances below 100 Ohm, which correlates approximately with the historical alterations and mineralization in the bedrock. This robust resistance trend is found near the surface (250 meter asl) and extends to a depth of about 200 meters (50 meters asl). Another clearly defined resistance anomaly correlates approximately with the pronounced radon anomalies at the northern end of the measured range. The two resistance trends are priority objectives to be explored in follow-up drilling.
About the property
The Riou Lake Property benefits from historic exploration work that has invested over $ 3 million. Among other things, the previous owner UEX Corp. modern geophysical measurements were carried out and Eldorado Nuclear was also active here. In addition, the project benefits from the good infrastructure, as both power lines and roads run across the claims. Declan is primarily focused on exploring targets such as Gibbons Creek, where the distance to discordance is known to be small (i.e. ~ 2005-50 meters), increasing the chance of economically viable exploration.
NI 43 101 compliant release
The technical information contained in this news release has been prepared in accordance with the Canadian regulatory requirements of the National Instrument 43-101. The test was conducted on behalf of Lakeland by Neil MaCallum, P.Geo., A qualified expert of Dahrouge Geological Consulting Ltd. and Director of Lakeland, as well as on behalf of Declan by Garry Clark, P.Geo., a qualified expert from Clark Exploration and Consulting Inc. and Director of Declan.
Analysis
All rock samples were sent to the laboratory of Activation Laboratories Ltd. ("Actlabs") brought to Ancaster, Ontario. Actlabs is an ISO-certified and non-issuer laboratory. All samples were analyzed as part of the ICP-MS / ICP-OES analysis by partial digestion with 39 elements and full digestion with 49 elements. Samples containing more than 8.000 ppm uranium in one of the two digests were analyzed using the 8-U3O8-XRF method. In this procedure, a sample of 0,5 grams is fused with lithium metaborate / tetraborate and X-ray fluorescence analysis performed. The samples listed here with a uranium value below 8.000 ppm were subjected to a partial digestion and the ICP-MS process. Specified samples with a uranium value above 8.000 ppm were subjected to X-ray fluorescence analysis. When converting the uranium values to U3O8 values, the factor 1,1792 is used.
All samples were analyzed for their Au, Pt and Pd content using a 30 gram sample using the 1C-OES exploration method (fire assay) followed by an ICP evaluation.
About Declan Resources Inc.
Declan Resources Inc. is an independent mineral exploration company headquartered in Vancouver, British Columbia, which is currently focused on exploration of the Nimini Hills and Baomahun mineral properties in Sierra Leone and on uranium mineralization in the Athabasca Basin of Saskatchewan.
More information about:
Declan Resources Inc.
Wayne Tisdale, President and CEO
T: (604) 639-4455
The TSX Venture Exchange and its regulators (referred to in the Articles of Association of the TSX Venture Exchange as Regulation Services Providers) accept no responsibility for the adequacy or accuracy of this announcement.
Statements in this document, which are not purely historical in nature, are forward-looking statements and also statements that relate to assumptions, plans, expectations or intentions for the future. The forward-looking statements contained in this press release also include that the RadonEx measurement is considered to be one of the highest recorded measurements in the Athabasca Basin; these results confirm the potential for a significant uranium deposit; all references to historical drill reports and other positive indications of uranium occurrences; that the company will carry out another radon measurement; References to the field work of the next period; and references to the depth of unconformity in relation to economically viable exploration.
It should be noted that the actual results of the Company may differ materially from those expressed in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, regulatory, environmental and technological factors that could affect the Company's operations, markets, products and prices. Among the reasons for a possible significant deviation of the actual results include: the misinterpretation of data; the unavailability of required machinery and equipment or labor; the unavailability of funds to carry out the planned exploration and development work; no grant of a drilling license; Weather conditions, logistical problems or hazards that could prevent exploration; Affects or failures of equipment and systems; no detailed or detailed data analysis; that results obtained by us or others in certain locations are not transferable to larger areas of the Property; no (timely) completion of environmental impact assessments; Market prices which do not allow commercial production at a reasonable cost; that, despite the promising data available in our properties, economically viable mineralization can not be found.
No liability is assumed for the accuracy of the translation! Please note english original message!
Source: IRW-Press.com.
