Titan Uranium Inc. Commences Summer Drilling Program on Border Block Project
July 22 2010 - 8:00AM
Marketwired
Titan Uranium Inc. ("Titan" or the "Company") (TSX VENTURE:
TUE)(FRANKFURT: T4X) is pleased to announce that the Company's
Summer 2010 drilling program is now underway on the Border Block
project. The Border Block project is the subject of a Letter of
Agreement between Titan and Japan Oil, Gas and Metals National
Corporation (JOGMEC) wherein JOGMEC can earn a 50% undivided
interest in the project by funding Cdn $6 million in exploration
over four years (see Titan press release November 12, 2008).
Aggressive Drilling Inc. completed mobilization of the drilling
crew and equipment to the Border Block project site and the drill
campaign commenced July 22, 2010. The planned program consists of
approximately 1,500 metres of diamond drilling to test prospective
targets identified by recently completed (Spring 2010) SQUID Time
Domain ElectroMagnetic (TDEM) and D.C. Resistivity surveys. D.C.
Resistivity is the geophysical technique of choice in the Athabasca
Basin due to its ability to image hydrothermal alteration systems,
which form resistivity "chimneys", often associated with fault
zones and unconformity-type uranium deposits.
The Border Block project is located in the southwest area of the
Athabasca Basin, near the Alberta border and comprises the Maybelle
River, Gartner Lake, King and Castle South Extension properties.
The project (76,354 hectares/188,675 acres) covers an area where
historic exploration data identified favourable basement rocks
capable of hosting uranium mineralization. The basement rocks are
thought to be correlative with those found on the adjacent
AREVA/UEX Corp.'s Shea Creek project which hosts significant
uranium mineralization in the Anne, Collette and Kianna
deposits.
Rodney Koch, P. Geo, Vice-President Exploration Canada for
Titan, is the qualified person responsible for the technical
information contained in this release.
About Titan Uranium Inc.
Titan Uranium's vision is to be a leading mid-tier
North-American uranium exploration, development and mining company.
Our mission is to create shareholder value by advancing quality
projects to production. Our growth strategy is driven by three
elements:
- Development: A pre-feasibility study has been completed at the
Sheep Mountain Uranium Project, Wyoming. The deposit contains a NI
43-101 compliant probable reserve of 14.2M lbs. of U3O8 (6,393,000
tons at 0.111% e U3O8) (see Titan press release April 12,
2010).
- Exploration: The goal is to discover world class uranium
deposits by exploring over 1.5M acres of land in the proven
Athabasca and prospective Thelon Basins. Exploration programs are
also active in Utah and Wyoming.
- Consolidation: The Company is actively pursuing M & A
opportunities and focused on uranium-friendly jurisdictions such as
Saskatchewan and Wyoming.
Titan has gained market recognition for its ability to attract
strategic partners to participate in the exploration of its
properties. Japan Oil, Gas and Metals National Corporation and Mega
Uranium Ltd. are partners in current exploration programs managed
by Titan.
Titan is well-financed and ideally positioned to emerge as a
pre-eminent player in the uranium industry.
ON BEHALF OF TITAN URANIUM INC.
Brian A. Reilly, President
No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained
herein. This News Release includes certain "forward-looking
statements". All statements other than statements of historical
fact, included in this release, including, without limitation,
statements regarding potential mineralization and reserves,
exploration results, and future plans and objectives of Titan
Uranium, are forward-looking statements that involve various risks
and uncertainties. There can be no assurance that such statements
will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from Titan Uranium's expectations are exploration risks
detailed herein and from time to time in the filings made by Titan
Uranium with securities regulators.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Titan Uranium Inc. Investor Relations 306-651-2405 or
604-925-1810 306-651-5105 (FAX) ir@titanuranium.com
www.titanuranium.com
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