This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tournigan Takes Final Steps To Become European Uranium Resources Ltd.

Riutta Project

The Riutta project is located in southeastern Finland near the town of Joensuu. The project area comprises 10 exploration licenses covering 790.2 hectares. Mineralization at the project area was discovered in 1958 by a prospector who identified mineralized boulders. Since then, exploration on the project has been performed by Atomienergia (1958-1959), Outokumpu Oy (1960-1963), the Geological Survey of Finland (1983-1988) and AREVA (2008-2009). Over 500 mineralized boulders have been identified at Riutta, with more than one hundred of these boulders giving assays over 1.0% uranium. Trenching has exposed uranium mineralization occurring as veins and pockets of pitchblende.

A total of 65 drill holes (6,275 metres) have been drilled at Riutta. Drilling has been restricted to shallow holes separated by long timeframes. The best drill results to date include 11.3 metres at 0.68% U3O8 (including 3.7 metres at 1.53% U3O8) beginning at a depth of 28.3 metres; 3.6 metres at 1.10% U3O8 (including 0.35 metres at 9.79% U3O8) beginning at a depth of 42.0 metres; and 1.0 metres at 0.35% U3O8 beginning at a depth of 63.3 metres. Several zones of mineralized trends remain untested by drilling. High uranium grades have been intersected within 450 metres of strike within a larger 3.6 kilometre trend.

Uranium mineralization at Riutta consists of pitchblende veins and infill in breccias within a quartz sericite schist host rock. The bedrock comprises Archean gneisses overlain by Proterozoic quartzites. Mafic and ultramafic dykes cut across these. Alteration is extensive and includes epidote, chlorite, quartz, sericite, albite, potassium feldspar and carbonate.

Asento Project

The Asento (“10,000 Boulders”) project is a new discovery that is located in north-central Finland. A large number of mineralized boulders have been identified and the project area is considered prospective for vein-style hydrothermal uranium deposits within Archean granites. Applications have been filed for exploration licenses covering 3,556.6 hectares.

5 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs