Declan Resources Inc.
TSX VENTURE : LAN

Declan Resources Inc.

November 13, 2014 08:00 ET

Declan Updates Exploration Activities in Athabasca Basin

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 13, 2014) - Declan Resources Inc. ("Declan" or the "Company") (TSX VENTURE:LAN) is pleased to provide the following update on ongoing exploration activities conducted at its wholly owned properties within and near the Athabasca Basin, located in northeastern Alberta and northern Saskatchewan. The Athabasca Basin hosts some of the highest grade uranium deposits in the world.

Maurice Creek Property

The Company has completed a combined high-resolution magnetic and radiometric survey of its Maurice Creek Property:

  • Located immediately north of Lake Athabasca, along the Alberta - Saskatchewan Border.
  • During October, 2014 a total of 1,326.5 line-km were flown by Terraquest Ltd. of Markham, Ontario.
  • The Maurice Creek Property is contiguous to the west of the Northwest Athabasca Joint Venture of Forum Uranium Corp., NexGen Energy Ltd., Cameco and AREVA.
  • Preliminary field magnetics show several prospective structures in WNW-ESE trends, similar to those seen at the Maurice Bay property immediately to the east.
  • This airborne data will be used in conjunction with regional historical data to begin a ground geophysical program due to commence in Q1 2015. Exploration drilling and core recovery is planned to follow the ground surveys.
  • Historic results from the Maurice Creek Property include several surface grab samples with grades between 0.22 to 0.66% U3O8.

Maybelle North and Richardson River Property(s)

The Company has completed its final VTEM interpretation report of the airborne survey flown at its Maybelle North - Richardson River area properties:

  • Located south of Lake Athabasca, along the Alberta - Saskatchewan Border.
  • During Q2 2014 a total of 1,004 line-km were flown by Aeroquest Airborne of Aurora, Ontario.
  • Interpreted airborne data identified a series of four parallel NW-SE conductors, including extensions to the Maybelle River Trend immediately to the east and south, which is known to host the Dragon Lake Uranium Deposit. Anticipated depths to the basement unconformity vary from 50-100 m deep on the west side of the project to 350-400 m deep on the east side.
  • The nearby Dragon Lake uranium deposit was discovered in 1988 when Uranerz Exploration and Mining Ltd. (original Uranerz) completed two closely spaced holes which intersected 4.7% U across 1.7 m and 17.7% U across 5.0 m (200 m deep); since then grades of up to 54.5% U3O8 have been reported.
  • This airborne data will be used in conjunction with regional historical data to begin a ground geophysical program due to commence in Q1 2015. Exploration drilling and core recovery is planned to follow the ground surveys.

David Miller, President and CEO, 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
    T: (604) 639-4455