2006 DDN (Pre-listing)
2005 DDN (Pre-listing)
Feb 01, 2010
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| ||February 20, 2008|
Uranium North Identifies New High-Grade Uranium Target at KAM
| ||Vancouver, February 20, 2008 - Uranium North Resources Corp (UNR - TSX-V) announces a new high-grade uranium exploration target on its 100% owned KAM prospect. Boulder samples associated with a two kilometre long linear structure have yielded U3O8 values in the range of <0.1 to 2.9%. A drill program is being planned to test parts of this structure. KAM is one of 12 prospects identified on the South Baker Property in the Thelon Basin region of Nunavut.|
"This is an exciting new target for the KAM prospect and it has never been drill tested" says Mark Kolebaba President and CEO. "Uranium mineralization along an extensive structure with high-grade zones could be a very significant find."
Uranium-rich boulders and airborne radiometric anomalies are coincident with 2 kilometres of a 10 kilometre long linear airborne magnetic low. Other similar geophysical anomalies have been identified on the property.
Sample results suggest possible high-grade zones along the mineralized structure. More than 224 rock samples collected in 2007 define the boulder field. More than 40% of the samples exceed 0.2% U3O8 including numerous boulders exceeding 1% U3O8.
Of special interest is one area measuring approximately 150 x 100 metres contains 9 boulders with U3O8 values exceeding 1%. Coincident enzyme leach soil geochemical anomalies (up to 2 orders of magnitude above background) support the possibility of a local 150 x 100 metre bedrock source of high-grade uranium mineralization. Limited soil geochemistry completed by the Company to date over this area strongly suggests that the uraniferous system is open to the west with an unknown width. View Map
The boulders are gneissic in composition and exhibit chlorite-hematite alteration and periodically strong silica filled brecciation textures. Possible magnetite destruction due to alteration is the interpreted cause of the magnetic low anomaly. Uranium mineralization occurs as uranium oxides and hydroxides including pitchblende and is often associated with pyrite and chalcopyrite.
This prospect was originally discovered by Urangesellschaft, who also discovered the Kiggavik deposit. Boulder samples from the linear zone yielded <0.1 to 4.03 % U3O8. In the absence of detailed airborne magnetic data, the uraniferous boulders were at the time interpreted as glacially transported. Historical drilling on KAM was based on Induced Polarization data and never truly tested the KAM prospects or the newly interpreted east-west structure. Four holes drilled along the edges of KAM South, one of the original prospects at KAM, returned the best drill intercepts at the KAM prospect including 0.42% U3O8 over 1 metre, 0.17 % U3O8 over 4 metres and 0.17% U3O8 over 3metres. The historical sample data reported in this release is mainly from assessment files. The accuracy and validity of this historic data has not been verified by Uranium North or its consultants.
Laboratory Accreditation and Qualified Persons
Samples were selected for analysis in the field using a spectrometer. 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.
W.E. Brereton (P.Eng.) and J.S. Brett (P.Geo.) of MPH Consulting Limited are Uranium North's qualified persons responsible for the design and interpretation of the geochemical and geophysical programs, respectively.
Uranium North holds 100% interest in properties located within the most prospective uranium basins in Canada, namely the Athabasca and Thelon Basins and is focused on discovery.
On behalf of Uranium North Resources
Mark Kolebaba President and CEO
Uranium North Resource Corp
Corporate Communication- Heather Kays
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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