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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of June, 2004
International Uranium Corporation
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(Translation of registrant's name into English)
Independence Plaza, Suite 950, 1050 Seventeenth Street, Denver, CO 80265
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F
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Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No [X]
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If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ________________.
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
International Uranium Corporation
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(Registrant)
Date: July 14, 2004 By: /s/ Ron F. Hochstein
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Ron F. Hochstein, President
EXHIBIT INDEX
Exhibit Number Description
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1 Press Release dated June 8, 2004
2 Press Release dated June 23, 2004
3 Press Release dated June 23, 2004
CONTACT: SOPHIA SHANE 2101, 885 West Georgia Street INTERNATIONAL
Corporate Development Vancouver, British Columbia URANIUM
Tel: (604) 689-7842 Canada V6C 3E8 CORPORATION
Fax: (604) 689-4250 www.intluranium.com
PRESS RELEASE
MONGOLIA COPPER/GOLD PROJECT UPDATE
JUNE 8, 2004 (IUC -- TSX) ... INTERNATIONAL URANIUM CORPORATION ("IUC" or "the
Company") is pleased to provide an update on the Company's copper/gold
exploration program in Mongolia. In March, 2004, IUC announced the sale of its
copper/gold properties in Mongolia to Fortress IT Corp. ("Fortress"). Filings
and documentation pursuant to the sale have been submitted to the TSX Venture
Exchange and regulatory authorities for approval. Fortress' shares are expected
to resume trading soon after the receipt of regulatory approval. Upon conclusion
of the transaction, IUC, through its shareholdings of Fortress, will hold an
approximate 63% interest in the Mongolia copper/gold projects.
The 2004 work program is progressing under the direction of Fortress and is
focusing initially on 3 of several key projects held in the country: Shiveen
Gol, Erdenet and Altargany. The total copper/gold exploration land package in
Mongolia encompasses over 1.74 million hectares and covers the most prospective
regions in the country.
At the Shiveen Gol project in northwestern Mongolia, detailed geologic mapping
and an extensive surface rock geochemistry program has been completed and has
outlined a large, highly prospective target. The surface area of copper
mineralization, IOCG-style hydrothermal alteration, strong IP chargeability, and
anomalous ground magnetic signature covers an area of approximately 6 square
kilometres.
The Company would like to report a correction to one of the Shiveen Gol copper
values previously announced on December 4, 2003. The error was detected on the
lab report and has since been corrected. No significant copper values were
obtained in drill hole SGDD-15. The results reported from the lab were 33 metres
of 0.23% Cu.
At the Erdenet project in northcentral Mongolia, an aggressive field program has
been initiated on key holdings in the Erdenet belt. The work has consisted of
integrated soil and rock geochemistry, geologic and alteration mapping, and
ground magnetic surveys. Two targets for porphyry copper mineralization have
emerged from the work. The Company anticipates drilling at least one of these
targets this season. The Erdenet project covers over 5,000 square kilometres of
prospective porphyry copper geology, northeast of Mongolia's largest operating
copper mine (the Erdenet Mine). The Erdenet Mine is the only known commercial
deposit in a +300 km long volcano-plutonic belt similar in its geologic setting
to the Chilean Andes. Such belts worldwide commonly produce clusters of such
deposits.
To date, the Company has completed over 900 line kilometres of ground magnetic
and 200 line kilometres of IP surveys at the Shiveen Gol Project, and over 250
line kilometres of ground magnetic surveys in the Erdenet Project. The Company
presently has an active ground magnetic program underway and an ongoing IP
program in the Erdenet Project. Interpretation of the new work is being
integrated with surface mapping, leached cap interpretations, and geochemistry
to define drill targets at both Shiveen Gol and Erdenet.
At the Altargany project in western Huvsgul province, the company is planning an
aggressive field campaign to follow up on the work completed in 2003 which
defined a 15 kilometre long strong gold stream-sediment geochemisty anomaly.
IUC is engaged in uranium exploration and production. It holds significant
uranium deposits in Mongolia and in the U.S. including a fully permitted 2,000
ton per day uranium mill near Blanding, Utah (one of only two operating uranium
mills in the U.S.), as well as uranium exploration properties in the Athabasca
Region in Canada. The Company also processes and recycles uranium-bearing waste
materials as an environmentally superior alternative to direct disposal.
Statements contained in this news release which are not historical facts are
forward-looking statements that involve risks, uncertainties and other factors
that could cause actual results to differ materially from those expressed or
implied by such forward-looking statements. Factors that could cause such
differences, without limiting the generality of the following, include:
volatility and sensitivity to market prices for uranium; the impact of the sales
volume of uranium; competition; the impact of change in foreign currency
exchange rates and interest rates; imprecision in reserve estimates;
environmental and safety risks including increased regulatory burdens;
unexpected geological or hydrological conditions; political risks arising from
operating in certain developing countries; a possible deterioration in political
support for nuclear energy; changes in government regulations and policies,
including trade laws and policies; demand for nuclear power; replacement of
production and failure to obtain necessary permits and approvals from government
authorities; weather and other natural phenomena; ability to maintain and
further improve positive labour relations; operating performance of the
facilities; success of planned development projects; and other development and
operating risks. Although IUC believes that the assumptions inherent in the
forward-looking statements are reasonable, undue reliance should not be placed
on these statements, which only apply as of the date of this report. IUC
disclaims any intention or obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or otherwise.
ON BEHALF OF THE BOARD
Ron F. Hochstein
President
CONTACT: SOPHIA SHANE 2101, 885 West Georgia Street INTERNATIONAL
Corporate Development Vancouver, British Columbia URANIUM
Tel: (604) 689-7842 Canada V6C 3E8 CORPORATION
Fax: (604) 689-4250 www.intluranium.com
PRESS RELEASE
15,000 METRE DRILL PROGRAM AT MOORE LAKE URANIUM PROJECT IN SASKATCHEWAN
JUNE 23, 2004 (IUC -- TSX) ... INTERNATIONAL URANIUM CORPORATION ("IUC") and JNR
Resources Inc. ("JNR") are pleased to provide an update on their Joint Venture
uranium properties in the Athabasca Basin of northern Saskatchewan.
The Companies have approved an extensive 15,000 metre diamond drilling and
exploration program on the Moore Lake uranium project. The initial summer
program will include of a minimum of 5000 metres of diamond drilling, focussing
on the known uranium mineralization in the high grade Maverick zone, along with
linecutting and geophysical surveys over the interpreted northeastern and
southwestern extensions of the structural corridor containing the
mineralization, and a property wide boulder sampling program.
This program will be underway by month's end. Initially one drill will be used
and will test in detail the area containing the high grade mineralization on a
grid pattern; while the second drill will likely start once the geophysical
surveys are completed and interpreted. It should be noted that the Maverick zone
and its extensions can be drill tested virtually year round.
This past winter the Companies completed 19 holes, totalling 6747 metres. The
results from the first 14 holes were released earlier this year and indicate the
presence of high grade uranium mineralization in a highly anomalous and
extensive, structural corridor. The geochemical results for the last five holes
(ML-42 to ML-46), extended the length of this corridor and better defined the
geology.
ML-42 and ML-43 were progressive 150 metre stepouts to the northeast of ML-41.
They intersected highly altered and structurally disrupted graphitic pelites
well into the basement accompanied by anomalous levels of uranium and
'pathfinder' elements such as nickel, copper, zinc, boron and vanadium. ML-43
also intersected a strongly altered and structurally disrupted basal sandstone
column that returned highly anomalous uranium, boron and lead values. These two
holes, which were collared too far into the hanging wall, indicate that the
mineralizing system now extends a minimum of 1100 metres to the northeast of the
discovery hole (ML-25), and is still open in this direction.
ML-44 was a 500 metre stratigraphic (geological) hole drilled from south to
north through the structural corridor. It better defined the geological package
as well as the east-west trending structures.
ML-45 and ML-46 were 5 metre stepouts to the south of ML-35 and ML-37
respectively. The sandstone and basement rocks in both holes was strongly
altered and structurally disrupted, and returned highly anomalous geochemistry,
including several intervals of low grade uranium mineralization. These holes
also add credence to the theory that cross cutting north-northeast trending
structures played a major role in controlling the mineralization, and may in
fact represent a second mineralized direction.
This spring, the Companies also flew over 1200 kilometres of airborne GEOTEM
surveys over their jointly held South Cigar and Pendleton Lake projects. These
properties are subject to the terms of a 'Strategic Alliance' whereby IUC can
earn a 75% interest in them by paying acquisition costs and funding the initial
$500,000 in exploration expenditures. A preliminary interpretation indicates the
presence of conductive horizons on both properties that will require follow up.
Details of summer programs on these properties as well as the Lazy Edward Bay
project, will be made known following a Joint Venture meeting to be held in
July.
The Companies are very pleased with the results to date, particularly at Moore
Lake, and will continue to aggressively explore their large land position in the
highly productive eastern Athabasca Basin of northern Saskatchewan.
Drill core was prepared and analysed by the Saskatchewan Research Council in
accordance with industry standards. Drill results and technical data have been
reviewed by Richard Kusmirski, P. Geo., a Qualified Person pursuant to NI
43-101.
IUC is engaged in uranium exploration and production. It holds significant
uranium deposits in Mongolia and in the U.S. including a fully permitted 2,000
ton per day uranium mill near Blanding, Utah (one of only two operating uranium
mills in the U.S.), as well as uranium exploration properties in the Athabasca
Region in Canada. The Company also processes and recycles uranium-bearing waste
materials as an environmentally superior alternative to direct disposal.
Statements contained in this news release which are not historical facts are
forward-looking statements that involve risks, uncertainties and other factors
that could cause actual results to differ materially from those expressed or
implied by such forward-looking statements. Factors that could cause such
differences, without limiting the generality of the following, include:
volatility and sensitivity to market prices for uranium; the impact of the sales
volume of uranium; competition; the impact of change in foreign currency
exchange rates and interest rates; imprecision in reserve estimates;
environmental and safety risks including increased regulatory burdens;
unexpected geological or hydrological conditions; political risks arising from
operating in certain developing countries; a possible deterioration in political
support for nuclear energy; changes in government regulations and policies,
including trade laws and policies; demand for nuclear power; replacement of
production and failure to obtain necessary permits and approvals from government
authorities; weather and other natural phenomena; ability to maintain and
further improve positive labour relations; operating performance of the
facilities; success of planned development projects; and other development and
operating risks. Although IUC believes that the assumptions inherent in the
forward-looking statements are reasonable, undue reliance should not be placed
on these statements, which only apply as of the date of this report. IUC
disclaims any intention or obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or otherwise.
ON BEHALF OF THE BOARD
Ron F. Hochstein
President
CONTACT: SOPHIA SHANE 2101, 885 West Georgia Street INTERNATIONAL
Corporate Development Vancouver, British Columbia URANIUM
Tel: (604) 689-7842 Canada V6C 3E8 CORPORATION
Fax: (604) 689-4250 www.intluranium.com
PRESS RELEASE
IUC COMPLETES SALE OF COPPER-GOLD MONGOLIAN
EXPLORATION PROPERTIES TO FORTRESS MINERALS CORP.
JUNE 23, 2004 (IUC -- TSX) -- INTERNATIONAL URANIUM CORPORATION ("IUC") is
pleased to announce that it has completed the sale of its copper-gold Mongolian
exploration properties to Fortress Minerals Corp. (formerly, Fortress IT Corp.)
("Fortress"). Accordingly, IUC has acquired 28 million common shares of Fortress
based on deferred exploration expenditures made by the Corporation and its
subsidiaries on the properties within the last three years in the amount of
approximately US$2.4 million. IUC's shareholdings represent approximately 63.1%
of the issued and outstanding common shares of Fortress.
On Closing, IUC received 2,800,000 common shares of Fortress. The balance of
25,200,000 common shares are being held pursuant to the terms of a Value Share
Escrow Agreement (the "Escrow Agreement") in accordance with the policies of the
TSX Venture Exchange. Also on Closing, Mr. Ron Hochstein, President of the
Corporation, was appointed to the Board of Fortress.
The 28 million shares represent IUC's entire holdings in Fortress and are held
for investment purposes. This investment will be reviewed on a continuing basis
and such holdings may be increased or decreased in the future, subject to the
terms of the Escrow Agreement.
Fortress has changed its name from "Fortress IT Corp." to "Fortress Minerals
Corp.". Its ticker symbol on the TSX Venture Exchange remains the same, "FST".
Fortress shares are expected to resume trading on Monday, June 28, 2004.
ON BEHALF OF THE BOARD
Ron F. Hochstein
President
Statements contained in this news release which are not historical facts are
forward-looking statements that involve risks, uncertainties and other factors
that could cause actual results to differ materially from those expressed or
implied by such forward-looking statements. Factors that could cause such
differences, without limiting the generality of the following, include:
volatility and sensitivity to market prices for uranium; the impact of the sales
volume of uranium; competition; the impact of change in foreign currency
exchange rates and interest rates; imprecision in reserve estimates;
environmental and safety risks including increased regulatory burdens;
unexpected geological or hydrological conditions; political risks arising from
operating in certain developing countries; a possible deterioration in political
support for nuclear energy; changes in government regulations and policies,
including trade laws and policies; demand for nuclear power; replacement of
production and failure to obtain necessary permits and approvals from government
authorities; weather and other natural phenomena; ability to maintain and
further improve positive labour relations; operating performance of the
facilities; success of planned development projects; and other development and
operating risks. Although IUC believes that the assumptions inherent in the
forward-looking statements are reasonable, undue reliance should not be placed
on these statements, which only apply as of the date of this report. IUC
disclaims any intention or obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or otherwise.