Declan Resources Inc.

Declan Resources Inc.

June 02, 2015 08:00 ET

Declan Announces Completion of Davidson River Work Program

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 2, 2015) - Declan Resources Inc. ("Declan" or the "Company") (TSX VENTURE:LAN) is pleased to provide an update on the winter exploration program completed at the Company's wholly owned Davidson River Property (the "Property"). The Property consists of 5 claims totaling 25,351 hectares along the southern margin of the Athabasca Basin, located between 18 and 38 kilometers due west of Fission Uranium's Patterson Lake South uranium discovery and about 25 kilometers southwest of the Shea Creek uranium deposits.

Historic exploration for uranium in the greater region surrounding the Property included a lake sediment survey, whereby over 300 samples were collected within the southwestern portion of the Athabasca Basin and outlying basement regions in 1978. The highest uranium value detected (21 ppm) is located on the property. The Property remained unexplored until 2006 when Titan Uranium conducted a regional MEGATEM survey on a portion of the Property. This survey revealed several parallel magnetic trends with associated conductive features classified as exploration corridors.

In the first quarter of, 2015, Declan conducted a ground gravity survey on the Property. The program covered targets whereby a total of 13.90 line - kilometers (including 292 gravity stations) were surveyed over the duration of the program. The purpose of the survey was to further investigate areas with previously discovered linear magnetic trends or exploration corridors, and try to identify low gravity anomalies, which can be associated with uranium mineralization.

The gravity survey was conducted in two separate grids, roughly 5km apart, one located on the northern end of the Property, and the second one covering a portion of the centre/southern end of the Property. The gravity survey identified linear trends on each of the grids that cross - cut previously identified exploration corridors. The characteristic Bougeur response on both grids is a roughly NNE - SSW striking gradient that bisects both grids, with higher gravity on the WNW side and lower gravity on the ESE side of the grids.

On the northern grid, the cross - cutting structure is at right angle to the conductor axis and is located up-ice of the highly anomalous lake sediment sample (21ppm uranium) recovered from previous exploration. Likewise, on the southern grid, a linear structure identified by the gravity survey, cross - cuts the conductor axis and is also located near an anomalous lake sediment sample of 5 ppm uranium. Follow up exploration work will further investigate these targets, in order to define ultimate drill targets.

David Miller states "Successful exploratory work at Davidson River continually demonstrates that the Property exhibits several key elements that are fundamental to unconformity-style uranium mineralization, such as linear magnetics with conductors, cross-cut structures identified by gravimerty and uranium geochemical anomalies. Declan will use the latest data in conjunction with historical work to further develop this highly prospective Property."

David Miller, President and Chief Executive Officer, is a Qualified Person (QP) by the standards of National Instrument 43-101, has reviewed the technical data described above and approves the contents of this news release.

About Declan Resources Inc.

Declan is a Canadian based uranium exploration company. The Company is focused on the exploration of properties in the Athabasca Basin which hosts some of the largest, high grade uranium deposits in the world.

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.

Contact Information

  • Declan Resources Inc.
    David Miller
    President and CEO
    (604) 639-4455