Quebec Miner Reports On Significant Uranium Results

By: AllPennyStocks.com News

February 18, 2010
Less glamorous than many of its opposite numbers in the mineral field, uranium is nonetheless valuable and applicable to a number of uses. Apart from its use in nuclear fission, uranium has been proven useful as a colorant in uranium glass, producing orange-red to lemon yellow hues. It was also used for tinting and shading in early photography, in lamp filaments, to improve the appearance of dentures, and in the leather and wood industries for stains and dyes.

While the search for uranium (named for the planet Uranus) is less high-profile than other minerals, one Quebec-based company is loudly trumpeting the progress it has made finding and developing the mineral. Dios Exploration Inc. (TSX-Venture:DOS), headquartered in Montreal, announced in mid-to-late February developments on its wholly-owned Hotish uranium project, Otish Basin, Quebec: GODZILA showing returns up to 0.66% uranium oxide (periodic table symbol U3O8) over a one-metre true width.

Also, as company management astutely pointed out, U.S. President Barack Obama this week announced two nuclear plants for power generation in Georgia, and renewed its commitment to green power, including nuclear power, which is considered a clean form of energy, and which is fed principally by uranium.

Because variety is the spice of life, DOS prides itself on the diversity of its main minerals. Its 5,300 mining claims cover over 2,750 square kilometres in key areas of central Quebec and the Otish Mountains. The claims have a high potential in uranium and diamonds. Dios’ business strategy is to generate exploration projects from the scientific concept to feasibility and develop them either alone or through joint venture.

What’s more, last December, DOS acquired a series of claims called the Shipshaw property and is preparing to test drill a carbonatite target for strategic metals (niobium, tantalum) and rare earths less than 3,000 metres from the operating Niobec niobium mine located in Quebec.

The Niobec niobium mine was discovered in the late 1960s. Also, some syenite outcrops have been noted on the DOS property, as well as Trenton limestones.

If there is one fly in the ointment, it’s that the company’s stock is near its 52-week peak of 28 cents, set only the week before (having sunk to a gulch of eight cents last March). The day of the announcement about GODZILLA found the price around 24 cents, on somewhat subdued volume. But developments from south of the border, and the company’s commitment to finding sources of clean energy, could bring the stock price out of that range before too long.

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