SASKATOON, SASKATCHEWAN--(Marketwire – Dec. 18, 2009) - Titan Uranium Inc. (TSX VENTURE:TUE)(FRANKFURT:T4X) is pleased to announce that it has commenced geophysical programs on several Athabasca Basin properties in Saskatchewan. A D.C. Resistivity and Max Min Horizontal Loop ElectroMagnetic (HLEM) geophysics program on Titan's wholly owned Bishop I and Meanwell properties is now underway with results expected in January 2010. In addition, geophysical work will be carried out over Titan's R-Seven Project beginning in early January 2010 consisting of TDEM (Time Domain ElectroMagnetic) Moving Loop surveys with results expected by the end of the first quarter of 2010.
D.C. Resistivity is the geophysical technique of choice in the Athabasca Basin due to its ability to image hydrothermal alteration systems often associated with fault zones and unconformity-type uranium deposits. The alteration zones show up as resistivity "chimneys" due to the significant contrast in resistivity between the structural zones and their surrounding rocks. The program will consist of ten lines totaling 20 line km, with line spacing of 150 m.
Max Min HLEM and TDEM Moving loop surveys are electromagnetic (EM) techniques used to detect and delineate conductors and conductive formations in the Precambrian basement rocks at or under sandstone cover. Both EM surveys have been designed to optimize resolution within that interval. The surveys will consist of eleven lines of HLEM (24.2 km) and two lines of TDEM Moving Loop (17 km).
Geochemical results from drill core collected during the recent summer drill program on the Sand Hill Lake Project have been analyzed and interpreted. The Sand Hill Lake Project is under option agreement to Vale Exploration Canada Inc. (VEC) and operated by Titan. In total 1,330 meters of core were drilled during the 5-hole drill program and all the holes were successfully completed.
Most of the Athabasca Group sandstone rocks exhibited moderate to strong bleaching and clay alteration was well developed. Strong alteration was found in basement rocks below the unconformity, mainly along fractures. Weak Uranium anomalies were observed in both the sandstone and basement rocks. Strong Boron, Arsenic, Copper and Molybdenum anomalies were detected in the basement rocks of DDH SH09-28. Building on the results of previous drill programs, the area surrounding drill holes SH06-2, SH06-3 and SH09-26 and near drill holes SH09-28 and SH09-29 is recommended for future work, e.g. D.C. Resistivity to define the alteration halos followed by additional diamond drilling. VEC has decided not to pursue the option and accordingly has elected to terminate the Letter Agreement as the project at this stage no longer fits within its strategic exploration plan.
Rodney Koch, P. Geo, Vice-President Exploration Canada for Titan, is the qualified person responsible for the technical information contained in this release.
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 launched at the Sheep Mountain Uranium Project, Wyoming. The deposit contains a NI 43-101 compliant inferred resource of 15.6M lbs. of U3O8 (4,560,000 tons at 0.17% eU3O8).
- 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. Exploration programs are also active in Utah and Wyoming.
- 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 Uranium Ltd. 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.
Brian A. Reilly, President
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.
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.