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| ||January 13, 2009|
Uranium North Expands the Amer Lake Main Zone Uranium Deposit 550 Metres South and 270 Metres East
| ||Vancouver, January 13th, 2009 - Uranium North Resources Corp (UNR - TSX-V) announces the intersection of uranium mineralization south and east of the Main Zone uranium deposit located on the 100% owned Amer property in Nunavut. Reverse circulation (RC) holes completed in the area of the deposit intersected uranium mineralization south of the Main Zone and along strike of the deposit. The drilling confirms grade and thickness of mineralization intersected in historic drilling within the deposit and significantly expands the size potential of the deposit. Mineralization is near surface and is open to the south, east and southwest. |
"Intersecting uranium mineralization 550 metres south of the Amer Lake Main Zone demonstrates the size potential of this deposit. What is especially interesting is the mineralization appears to continue and remain open for expansion further south," says Mark Kolebaba, President and CEO of Uranium North Resources Ltd. "The 2008 drill program was highly successful in expanding the resource potential of the Main Zone deposit and has demonstrated to the Company that the deposit is potentially a very sizable uranium resource warranting intensive exploration."
RC hole UNR-15, drilled 550 metres south of the Main Zone deposit, intersected two mineralized horizons between 115 and 131 metres depth, including a 1.52 metre horizon grading 0.292% U3O8 and a second 4.56 metre horizon grading 0.075% U3O8. This hole demonstrates the potential to significantly increase the size of the Main Zone to the south and verifies the presence of higher grade uranium zones.
RC hole UNR-5 was drilled approximately 90 metres south and 270 metres west of the deposit. UNR-5 intersected two mineralized horizons within 22 metres of surface including a 1.52 metre zone grading at 0.10% U3O8.
RC hole UNR-4, drilled 225 metres south of the deposit, intersected multiple mineralized horizons between 15 and 71 metres of surface. Mineralized horizons range from 1.52 - 4.56 metres grading 0.014 to 0.047% U3O8 (see table below).
RC hole UNR-21, drilled 50 metres south of the deposit, intersected multiple mineralized horizons between 75 and 125 metres depth. Mineralized horizons range from 1.52 - 3.04 metres grading 0.017 to 0.048% U3O8.
|*true thickness unknown
An additional two RC holes, UNR-2B and UNR-3 were drilled 200 to 300 metres directly west of the Main Zone and a northwest-trending fault, which appears to have offset the mineralization to the south. These two holes were collared in rocks which typically underlie rocks that host the mineralization in the deposit. An additional hole, UNR-12 drilled 650 metres west of the Main Zone and 350 metres west of UNR-5 was lost at 9 metres depth.
The Amer Lake Property is located 145 kilometres north of Baker Lake and is 70 kilometres northwest of a new all-season road, which was constructed by Agnico Eagle to service the Meadowbank gold deposit. A laterally extensive (more than 25 kilometres) shallow south-dipping (20-40°) sequence of sandstones, siltstones and minor dolostones of the Paleoproterozoic Amer Group underlies much of the property and is host to the Main Zone uranium deposit and a number of other uranium showings. In the deposit, uranium mineralization is stratigraphically controlled and occurs in a series of thin beds over a stratigraphic interval of 250 metres and a strike length of 1500 metres. Assay values range from 0.5 - 1.5% U3O8 over 0.2 metre thicknesses enclosed in greater thicknesses of 1.5 - 2.0 metres with up to 0.17% U3O8. The Amer Lake deposit appears to be a sandstone-hosted uranium deposit with possible localized higher grade, structurally controlled uranium mineralization.
Based on historic drilling, the Main Zone deposit was estimated to contain a resource of 4.3 million metric tons @ 0.07% U3O8 for a total of 6.7 million lbs U3O8. This resource is historical and does not conform to the Standards of Disclosure for Mineral Projects as required by National Instrument 43-101 and should not be relied upon. The resource calculation included cutting high assays to an arbitrary 0.3% U3O8, and used a minimum mining width of 1.8 metres, a cut-off grade of 0.05% U3O8, a 15% (zero grade) dilution and a specific gravity of 2.7 gm/cc. Resource blocks ranged in length from 100 to 250 metres and slope distance from 75 to 210 metres.
Plans for the Main Zone deposit include immediate modeling of historic and 2008 drill holes to better understand the geological characteristics of the mineralization. A re-evaluation of the historic resource incorporating the 2008 RC data is also being completed in order to determine the potential range in quantity and grade of uranium mineralization in the Main Zone. This will provide a target for the next phase of exploration. Drilling is planned for 2009 in and around the deposit area and will include infill drilling to reduce the drill spacing within the deposit, and expansion drilling southwest, south and east of the deposit. This work will allow the Company to complete a compliant 43-101 resource calculation, and expand the resource.
A total of 1,763 metres of RC drilling were completed in 2008 in sixteen holes. All holes were drilled vertically. All intersections reported are down-hole, core-length intervals using a 0.01% U3O8 cut-off grade. The true thickness of mineralized zones is yet to be determined.
Quality Control/Quality Assurance
A total of 519 RC samples of 1.52 - 4.56 metres in length were processed at the Saskatchewan Research Council (SRC) Geoanalytical Laboratories, which is an ISO/IEC 17025 accredited laboratory for mineral analysis testing located in Saskatoon, Saskatchewan. Samples were analysed using SRC's Uranium Exploration ICP Package, which includes uranium by total digestion ICP-OES analyses, uranium by partial digestion ICP-OES analyses and uranium by fluorimetry analyses. All samples having more than 1000 ppm uranium were assayed using a uranium assay dissolution procedure. Numbers reported are for uranium by fluorimetry (< 1000 ppm).
Laboratory method quality control included the insertion of certified reference materials applicable for the ranges of mineralization encountered. Repeat analyses were performed on every 20th sample.
Allan Armitage, Ph.D., P.Geol., Vice President - Exploration of Uranium North, is a Qualified Person as defined by National Instrument 43-101, and is responsible for quality control of exploration undertaken by the Company and has reviewed and approved the technical information in this release.
On behalf of Uranium North Resources
Mark Kolebaba President and CEO
Uranium North Resource Corp
Corporate Communication - Heather Kays
Tel: 604 - 484 - 7120
Fax: 604 - 484 - 7143
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, activities and events or developments that Uranium North Resources Corp (the "Company") expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
You can view the Next News Releases item: Fri Jan 23, 2009, Uranium North Identifies the Potential for 11 to 17 Million Pounds U3O8 at the Amer Lake Main Zone Uranium Deposit; Remains open Down Dip and Along Strike
You can view the Previous News Releases item: Thu Dec 4, 2008, Uranium North Intersects Uranium Mineralization with Grades Up to 1.59% (31.8 lbs/ton) U308 on the KAM Property
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