Nov 4 2010
Titan Uranium Inc. (TSX-V:TUE, FSE:T4X) announced that the Company's Fall 2010 geophysical program is 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's press release of November 12, 2008).
The planned geophysical program will consist of approximately twenty-three line kilometres of Pole-Dipole Direct Current (D.C.) resistivity surveys to search for alteration chimneys along the H-Grid Time Domain Electromagnetic (TDEM) conductive trend. The combination of TDEM and D.C. resistivity surveys are effective in detecting conductors and hydrothermal alteration anomalies, respectively. These features are typically found associated with fault zones and unconformity-type uranium deposits in the Athabasca Basin. In addition, previous drilling results along the H-Grid conductor also identified favourable alteration indicators together with anomalous uranium values (see June 17, 2010 press release).
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.