2006 DDN (Pre-listing)
2005 DDN (Pre-listing)
Feb 01, 2010
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| ||November 07, 2007|
AMER LAKE RESULTS CONFIRM WIDESPREAD URANIUM MINERALIZATION
| ||Vancouver, November 7, 2007 - Uranium North Resources Corp (UNR - TSX-V) announces that recent sample results coincident with preliminary geophysical data indicate that uranium mineralization is more widespread than originally thought within the central part of the Amer Lake property in Nunavut. Numerous rock samples collected across a 7.5 by 5 kilometre central radiometric anomaly have yielded high uranium values (See table below). The results demonstrate that uranium mineralization extends beyond the known 1.5 kilometre Main Zone and Faucon prospect. |
"The fact that every sample from this 7.5 x 5 km anomaly has yielded high U3O8 values gives us confidence that the geophysics is detecting significant uranium mineralization," says Mark Kolebaba, President and CEO. "The lack of outcrop exposure and limited historical drilling means that Uranium North will be the first explorer to really test the majority of this anomalous area."
The Amer Lake property is 100% owned by Uranium North and is located approximately 100 kilometres north of Areva's Kiggavik deposit. The historic Amer Lake Main Zone uranium deposit, which is reported to contain 6.7 million lbs U3O8*, occurs within this central radiometrically anomalous area.
A total of 37 grab samples collected within the anomalous area returned U3O8 values ranging from 0.07% to 3.57% (average of 0.60%). Samples with anomalously high uranium have been collected as far as seven kms east of the Main Zone.
Click to Enlarge
See Map http://www.uraniumnorthresources.com/s/CentralRegion.asp
2007 Sample Results Central Zone
Sample %U308 Sample %U308 Sample %U308
O-825 3.572 B-822 0.684 B-831 0.355
B-835 1.698 O-531 0.516 O-828 0.317
B-529 1.497 O-533 0.493 O-833 0.239
O-534 1.321 O-532 0.488 B-525 0.217
B-821 0.936 B-819 0.488 O-824 0.211
B-838 0.829 B-830 0.483 B-526 0.197
B-834 0.827 B-836 0.468 B-520 0.195
B-527 0.809 B-818 0.437 O-823 0.179
B-522 0.785 B-301 0.435 O-820 0.133
B-523 0.717 B-535 0.416 B-826 0.13
B-528 0.698 B-829 0.407 O-530 0.098
B-832 0.69 B-524 0.36 B-837 0.075
O= Samples from Outcrop
B= Samples from frost heaved boulders, interpreted to be locally derived
Mineralization may be associated with a tightly folded stratigraphic sequence that is repeated throughout the Central Zone. The Central Zone has minimal outcrop exposure of approximately 5-10 % and has only been drilled in two locations; the Main Zone and the Faucon prospect both of which have uranium mineralization. This data provides Uranium North with numerous new drill targets.
Elevated contents of lead, and on occasion silver, copper and molybdenum are associated with elevated uranium values. Lead values range from less than 0.1% to greater then 0.5% with an average of about 0.2%. The above noted sample which assayed 3.57% U3O8 also returned 31.4 g/t silver. The degree of correlation between uranium and the other elements is being thoroughly examined as a guide to exploration.
Land Use permits for Amer Lake were received on September 6, 2007. Planning for a 2008 drill program is underway.
W. Brereton (P. Eng.) is Uranium North's qualified person responsible for the design of the geochemical survey and review of the geochemical data. Samples were collected during the 2007 field season.
Samples were selected for analysis in the field using a spectrometer. All samples were prepared with a standard analysis package using Aqua Regia digestion with a 37 element ICP finish using 0.5 grams of sample material. All samples were processed at Activation Laboratories Limited of Ancaster, Ontario, Canada. Activation Laboratories Limited is accredited by the Standards Council of Canada to ISO/IEC Standard 17025 Accredited Laboratory #266 and by the Florida Department of Health to NELAC Accredited Laboratory # E87979.
*The above estimate of resources/reserves prepared by Aquataine and Cominco in 1978 is historical only and should not be relied upon as it is not compliant with the CIM classifications pursuant to NI 43-101. It is, however, relevant because: it is indicative of a mineralized zone worthy of follow up exploration and potentially economic mineralization as it is based on drilling exploration and development carried out by what is believed to be knowledgeable explorers in accordance with acceptable industry practices at the time of the estimate. A Q.P. has not classified historical estimates as current mineral resources/reserves and the company is not treating them as current mineral resources/reserves since work to date has not verified the historical estimates.
About Uranium North Resources
Uranium North is a mineral exploration company focused on uranium exploration and discovery in Canada. The Company holds 100% interest in three million acres of property in the Thelon, Athabasca and Hornby basins. Uranium North is focusing on five key projects, one of which is host to a historical uranium resource*.
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
Email: [email protected]
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, exploitation 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, exploitation and 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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