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Urcan Resources Ltd. (Symbol: V.URC)
Company Name:	Urcan Resources Ltd.
HQ Location:	Calgary, Alberta
Company Website:	http://www.uracan.ca
Shares Outstanding	108.2 Million
Market Cap:	$22.72 Million
Average Daily Volume	369,000

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Urcan Resources Ltd. - Chart

Business Overview

Uracan Resources is a Canadian uranium exploration company focused on exploration activities in Québec and Saskatchewan. Its 100% owned Pipewrench Lake Property is located in the Wollaston Domain in Saskatchewan, approximately 120 kilometers south of the famous Athabasca Basin. The company’s primary asset and current focus is the North Shore uranium project on the north shore of the St. Lawrence River in Québec. The company is led by Mr. Greg Sedun, its President and CEO. The company’s drilling programs are focused on targeting near-surface large-tonnage granite-hosted uranium mineralization.

What is interesting?

The company’s wholly owned North Shore property has high potential and hosts several uraniferous zones and covers approximately 1,000 square kilometres, 285 kilometres east of Sept-Iles, Québec. It boasts excellent infrastructure with paved highways, power lines and deep water port potential within the project area.
Company’s projects are in Canada, a safe and stable mining jurisdiction with very low geo-political risks.
The demand for uranium is expected to stay relatively strong in coming years as fast growing developing countries such as China and India boost their nuclear energy production. This will benefit uranium exploration companies like Urcan Resources.
The company has tremendous exploration potential as only a small portion of the extensive North Shore project area has received detailed exploration. During 2009, the company discovered mineralized pegmatite bodies through prospecting, mapping, surveying and channel sampling activities.
With only 40 of 1000 square km explored on the Quebec property, Uracan has discovered over 40.7 million lbs. U3O8 since 2006 and continues to work towards building a larger resource estimate.a

Risks

Urcan is an early stage exploration company. The commercialization risks associated with uranium mineral exploration and development are high and its prospects for discovering economically viable uranium resources are uncertain. Early stage exploration companies typically needs significant amount of capital and Urcan is no exception. The company may require to raise additional capital to fund exploration programs, which could result in shareholders’ dilution.

Urcan Resources Ltd. News

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