Titan Uranium Commences Drilling At Sheep Mountain
(via Thenewswire.ca)
Vancouver, British Columbia - Titan Uranium Inc (TSX-V:TUE, FSE:T4X) is pleased to announce that its summer drill program has commenced at its Sheep Mountain project in Wyoming.
The program is planned to include approximately 110 drill holes, for a total of 35,000 feet (approximately 10,600 meters). Drilling, using two conventional air/mud rotary rigs, will be carried out by two local contractors, Fay Drilling of Gillette, WY and Ken Deckert Drilling of Casper, WY. Downhole geophysical logging of the holes has been contracted to Hawkins CBM Logging, Inc of Cody, WY.
The drill program is designed to complete delineation of the final pit limits, as well as to follow up on the additional mineral resources reported earlier this year (release dated January 20, 2011).
Chris Healey, President and CEO of Titan commented. "This drilling will enable our team to finalize design parameters for the various license and permit applications that are required to develop the project. Submission of the Plan of Operations to the US Bureau of Land Management is expected to be complete by July, and the Source Material License application to the US Nuclear Regulatory Commission is now at an advanced stage, with submission expected in October, 2011."
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 indicated resource of 30.4 million lbs eU3O8 (13,841,000 tons averaging 0.110% eU3O8) (see Titan press release January 20, 2011).
-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.
-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 [wp=371]Uranium Ltd.[/wp] 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.
Chris M. Healey, President & CEO
For further information, please contact:
Investor Relations
Titan Uranium Inc.
Phone: 604-925-1810
Facsimile: 604-921-1898
Email: ir@titanuranium.com
www.titanuranium.com
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.
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.
Copyright (c) 2011 Thenewswire.ca - All rights reserved.