- Under option to Japan Oil, Gas and Metals National Corp. (JOGMEC);
- Titan (operator) has granted JOGMEC the option to earn a 50% working interest in 164,596 hectares (406,726 acres) by contributing Cdn $9 million over three years;
- Project comprises Titan’s Knight and Virgin Trend properties;
- Knight property located near Platt Creek graphitic shear zone, which hosts mineralization on adjacent UEX Corp.’s ground (0.694% U3O8 over 4.4 metres);
- Virgin Trend property is located along the trace of the Virgin River Shear Zone/Dufferin Lake/Black Lake Fault, which is an extensive regional fault system with repeated movement during the period of the Athabasca sandstone deposition and Uranium mineralization;
- Southern portion of the Virgin Trend property neighbours Cameco Corp./Formation Capital Corp.’s Virgin River property that hosts the Centennial Deposit (hole VR-22W2 intersected 18.3% U3O8 over 5.3 metres);
- Targets were identified by airborne MEGATEM (2007) and ground magnetotelluric (2006) surveys;
- Bell Geospace airborne gravity gradient survey and high resolution ground SQUITEM surveys completed summer 2008 to aid in defining targets for drilling in 2009;
- Drilling in 2009 (1,341 metres, 1 hole) tested an interpreted conductive deep target. Strong Boron anomalies and significant amounts of dravite and alteration were identified throughout the sandstone rocks; and
- A ZTEM was flown (2009) to further test conductivity at depth.
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