Uracan Resources (URC.V; URCFF.PK; C$0.16) is a low-grade, bulk-tonnage uranium story that has had trouble gaining traction of late.

Despite the inattention, the company's story gets more compelling with each passing news release. Not only has it outlined 19.96 million pounds of U3O8 on its North Shore Property's Double S Zone, but it has also been turning up other instances of near-surface uranium mineralization all over North Shore's 1,039-square-kilometer concession.

The latest discovery comes from the project's Costabelle claims, which comprise over half of North Shore's project area. Located 65 kilometers northeast of Double S, the Costabelle claim group has yielded channel samples of up to 22 meters of 0.036% U3O8 and 31 meters of 0.026%U3O8.

To date, this sampling work has outlined three broad zones of uranium mineralization that are open in all directions. A greenfield discovery, the Costabelle claim group should see more follow-up exploration, including a possible drilling program, in 2009.

Full article