Declan Resources Acquires Claims Surrounding Its Gibbon's Creek Uranium Property
17 Januar 2014 - 11:36PM
Marketwired
Declan Resources Acquires Claims Surrounding Its Gibbon's Creek
Uranium Property
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 17, 2014) -
Declan Resources Inc. ("Declan" or the "Company") (TSX-VENTURE:LAN)
is pleased to announce the acquisition of two mineral claims (the
"North Star Property") comprising approximately 11,100 hectares
located along the northern margin of the Athabasca Basin in
Saskatchewan and north of Declan's Gibbons Creek joint venture with
Lakeland Resources.
The North Star Property has been acquired from an arm's length
vendor for cash consideration of $15,000 and 1,500,000 common
shares of Declan payable on closing. The vendor has also been
granted a 2% gross sales royalty. Declan's acquisition of the North
Star Property is subject to TSX Venture Exchange approval.
Recent exploration at Gibbons Creek has confirmed the presence
of radioactive boulders (to 4.28% U3O8), strongly anomalous
Radon-Ex values, and geophysical anomalies consistent with
alteration associated with known uranium deposits in the Athabasca
Basin. This exploration, coupled with known radioactive occurrences
in the region, confirm the area's potential for structurally
controlled uranium mineralization.
The North Star Property is underlain by a complex magnetic
background and is believed to contain the northerly extensions of a
number of important regional structures associated with uranium
projects in the area. An interpretation of the magnetic background
at Gibbon's Creek shows a northerly trending structure which
continues to the north through Lakeland Resources Ltd.'s Star
Property, and onto the North Star Property. The relationship
between uranium mineralization and this structure provides a new,
structurally controlled exploration target.
Immediately to the south, the Black Lake Project of UEX
Resources is underlain by the Platt Creek Fault system, which is
interpreted to continue to the north onto the eastern part of the
North Star Property. At Black Lake, highly anomalous uranium
mineralization has been intersected in numerous drill holes over a
strike length of about 1.7 kilometers. The northerly continuation
of this structure, provides an exceptional exploration target.
Wayne Tisdale comments:
"We are very pleased to have acquired the North Star Property.
This property further strengthens our land position within this
exciting new exploration area. We look forward to finalizing and
announcing our upcoming winter exploration program shortly."
Mr. Garry Clark, a director of Declan, is the "Qualified Person"
as defined in National Instrument 43-101, who has reviewed and
approved the technical content in this news release.
About Declan Resources Inc.
Declan Resources Inc. is an independent mineral exploration
company based in Vancouver, B.C. which is currently pursuing
mineral exploration in their Nimini Hills and Baomahun license
areas in Sierra Leone and uranium mineralization in the Athabasca
Basin in Saskatchewan.
Neither the
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.
Declan Resources Inc.Wayne TisdalePresident and CEO(604)
639-4455
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