Tecton Corporation Acquires Past Producing Uranium Mine in Eastern
Utah
LAS VEGAS (Business Wire EON) April 7, 2008 --
Tecton Corporation (OTCBB:TTNC) 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.
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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