|
Hawk Acquires Claims Adjacent To Past Uranium Producerin Athabasca Basin
Feb 20, 2008 9:31:00 AM TORONTO, ONTARIO - Hawk Uranium Inc. (TSX
VENTURE:HUI) ("Hawk") is pleased to announce that it has filed documents
with the Government of Saskatchewan to complete its acquisition by staking
of more than 13,000 hectares of ground in five (5) blocks adjacent to and on
strike with the Cluff Lake Uranium Mine. Hawk will hold a 100% interest in
these properties.
advertisement
The Cluff Lake Uranium Mine previously produced approximately 62.5 million
pounds of yellowcake from the mine which, when in operation, had an average
producing grade of approximately 22lbs/ton. The claims staked by Hawk cover
ground that lies in the Carswell Impact Structure and is within the
Athabasca Basin.
One block totalling in excess of 2,100 hectares is immediately contiguous
to and forms a common western boundary with the Cluff Lake Uranium Mine
site. Previous operators have outlined numerous airborne geotem conductors
within the claim blocks acquired by Hawk.
The Athabasca Basin has been the world's most important uranium producing
area, accounting for more than 30% of global primary uranium supply. Since
1968, eighteen (18) deposits containing approximately 1.5 billion pounds
U3O8 have been inventoried in the area, including the McArthur River Mine,
which contains 419 million pounds of uranium grading 24.72% U3O8. Other
major uranium deposits in the Athabasca Basin are the Rabbit Lake and Key
Lake deposits.
There is strong evidence that impact structures are prime locations for a
variety of mineral occurrences. Hawk's management believes that this factor,
coupled with the favourable uranium geology of the Athabasca Basin, will
help cause these claims to develop into a significant property acquisition
for Hawk.
ABOUT HAWK URANIUM INC.
Hawk has option interests in a uranium project in Grand Calumet Township,
Quebec, two VMS/nickel/copper exploration properties in the McFaulds Lake
"Ring of Fire" area of Northern Ontario through option or joint venture
agreements (one with Noront Resources Inc. and one with MacDonald Mines
Exploration Ltd.), one gold exploration property in the Wawa area of
Ontario, one uranium property in the Elliot Lake Camp of Ontario, one
uranium property in the Charlebois Lake area of the Northern Mining District
of Saskatchewan, one uranium property near the Cluff Lake Uranium Mine
within the Athabasca Basin of Saskatchewan, one uranium property in Gila
County, Arizona, and a core holding of 3.5 million shares in Wits Basin
Precious Minerals Inc. (OTCBB:WITM) ("Wits Basin"). Wits Basin is currently
pursuing active projects in South Africa, Colorado, Mexico and the People's
Republic of China. Hawk also has petroleum and natural gas properties in
Ontario.
Would you like to see your news and articles here? GO>>
CAUTIONARY STATEMENT: No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein. 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 Hawk, 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 results to differ materially from Hawk's plans and
expectations as detailed herein and from time to time in the filings made by
Hawk with the TSX Venture Exchange and securities regulators. Hawk does not
assume any obligation to update or revise its forward-looking statements,
whether as a result of new information, future events or otherwise.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
InvestorIdeas.com Disclaimer: Issuers of press releases are solely responsible for the accuracy of the content.
For more information, please contact:
Hawk Uranium Inc.
H. Vance White
President
Phone No: (416) 214-2250 or Toll Free:866-214-9486
Fax: (416) 367-1954 (FAX)
Hawk Uranium Inc.
Walter Brooks
Vice-President
Phone No: (416) 214-2250 or Toll Free:866-214-9486
Fax: (416) 367-1954 (FAX)
Source: Hawk Uranium Inc.
|
