TTNC news!!!!
Tecton Corporation Acquires Past Producing Uranium Mine in Eastern Utah
Monday April 7, 9:05 am ET
LAS VEGAS--(BUSINESS WIRE)--Tecton Corporation (OTCBB:TTNC - News) is a US-based exploration company with a Swiss management team focused on the acquisition and development of a portfolio of high quality uranium properties in the USA and Canada.
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Tecton Corporation is pleased to announce it has expanded its land holdings at the Firefly Project. Tecton holds an option to acquire 100% interest in approximately 4,000 acres as 207 unpatented federal mining claims within the La Sal uranium trend. The claims cover both the Firefly Project and the Grey Daun Mine holdings. Tecton plans an aggressive exploration program with the goal of discovering new uranium deposits.
Firefly is located in San Juan County, Utah, which is approximately 25 air miles southeast of Moab, Utah. It is situated within the highly prospective La Sal uranium trend lying between the orthogonally oriented Uravan, Colorado uranium trend to the east and the Lisbon Valley uranium district to the southwest. Together these three areas comprised the most productive uranium regions in the United States with the highest grades and thickest mineable widths. Total production was in excess of 150 million lbs of U3O8, largely from the 1950's to the 1980's.
The Firefly mine was discovered in 1952 as an extension of the Grey Daun Mine. Production records are incomplete; however, it's likely the two mines together yielded up to 100,000 lbs of U3O8 and 500,000 lbs of V2O5 up through the 1970's. The average grade of the known production was .41% U3O8 and 1.8% V2O5, a gross value of more than $600 per ton at today's prices.
About Tecton Corporation
Tecton Corporation is a uranium exploration company trading on the OTCBB under the symbol TEON. Tecton Corporation has a Swiss and Canadian management team focused on the acquisition and development of high-quality uranium properties. Tecton’s corporate strategy is to acquire advanced-stage uranium properties that are either past producers, have been the subject of prior work programs, and/or contain historic resources. Additionally, Tecton intends to acquire selective early-stage properties should they possess significant geologic merit.
Tecton’s corporate offices are Zurich, Switzerland. Mineralogics, of Tucson, Arizona manages Tecton’s geological duties. North American corporate communications representatives are located in California, in the United States.
The statements contained herein which are not historical are forward- looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward- looking statements, including, but not limited to, certain delays beyond the company's control with respect to commencement of drilling operations, concentration in mineral deposits, delays in testing and evaluation of ore samples, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
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