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| | January 12, 2011
Uranium North Reports 32.9 g/T Gold, 1350 g/T Silver and 4.2% Copper at Nowyak
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| | Vancouver, January 12, 2011 - Uranium North Resources Corp (UNR - TSX-V) announces high gold, silver and copper results on its 100% owned Nowyak property in Nunavut. Surface grab samples have yielded values as high as 32.9 g/T gold, 1,350 g/T silver and 4.2% copper.
"We have identified several high priority drill targets along what appears to be a very large underexplored mineralized system. We are currently planning a drill program to test these targets," says Mark R. Kolebaba, President and CEO of the Company.
Gold mineralization occurs along a reported 200 to 300 metre wide altered shear zone called the Komatic structure that may extend at least 20 kilometres. Based on historical and 2010 rock sampling, 5 areas with high gold have been identified along a 6 kilometre portion of this structure.
Mineralization along the Komatic structure appears to be associated with late granitic intrusions and oblique, cross-cutting faults parallel to a large regional fault zone within the immediate area. Alteration mineralization along the Komatic shear zone includes sericite, carbonate, chlorite, pyrite and silica. High gold, silver and copper values are common in samples along the southern portion of the Komatic shear zone.
A total of 56 grab samples were collected along the structure. Twenty samples yielded gold values above 1 g/T, 10 samples with greater than 10 g/T silver and 12 samples with greater than 0.1% copper. The top 21 gold samples are shown below.
Table 1. 21 Rock Sample Results
Au (g/T) |
Ag (g/T) |
Cu (%) |
|
Au (g/T) |
Ag (g/T) |
Cu (%) |
|
Au (g/T) |
Ag (g/T) |
Cu (%) |
32.9 |
1350 |
4.24 |
|
5.2 |
31.8 |
0.33 |
|
2.4 |
2.3 |
<0.1 |
26.7 |
232 |
0.69 |
|
4.3 |
8.3 |
0.01 |
|
1.7 |
5.6 |
<0.1 |
19.9 |
66.9 |
0.82 |
|
3.5 |
1.2 |
<0.1 |
|
1.4 |
2.4 |
<0.1 |
16.7 |
11.4 |
0.33 |
|
3.0 |
10.3 |
0.26 |
|
1.4 |
6.8 |
<.0.1 |
15.2 |
3.4 |
<0.1 |
|
2.9 |
4.4 |
<0.1 |
|
1.1 |
10.5 |
<0.1 |
6.8 |
2.0 |
<0.1 |
|
2.7 |
4.3 |
<0.1 |
|
1.0 |
45.1 |
1.67 |
6.3 |
9.0 |
<0.1 |
|
2.5 |
7.8 |
0.14 |
|
0.9 |
82.7 |
3.24 |
Future plans for Nowyak will focus on drilling known targets. Prospecting, rock sampling and soil geochemistry will be conducted to better define new targets on the property. Additional geophysical and geochemical surveying along the Komatic shear zone is planned.
Historical data including IP, magnetics, EM and soil geochemistry is currently being utilized in the development of drill targets. Several coincident geophysical and geochemical anomalies exist for testing.
About Uranium North
Uranium North Resources Corp. has generated and advanced 5 gold properties in central Nunavut. The Company also owns 100% of the Amer Lake uranium deposit, one of the largest 43-101 compliant uranium resources in Nunavut.
Linda Erdman, (P. Geo) and Geoffrey Goodall, (P. Geo) are responsible for design and execution of the 2010 program. Graham Gill, (P. Geo), is the Qualified Person as defined by National Instrument 43-101, reviewing the 2010 lab results. 2010 sample results described in this news release were grab samples collected to determine the presence or absence of gold mineralization and confirm historical sampling results. The 2010 sample data collected by the company appears to be consistent with the historical rock samples. These results should not be interpreted as being representative of average grades. Samples were prepared and analyzed at ALS Canada Ltd. 30 grams of each pulverized sample were analyzed by multi-element four acid ICP-AES. Samples with greater than 10 g/T gold were re-analyzed with AA finish.
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
Website: www.uraniumnorth.com
Email: info@uraniumnorth.com
Forward-Looking Information
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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. |
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