Uranium North Identifies High Priority Targets on Yathkyed Property
Wed Jun 10, 11:00 AM
ca.news.finance.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 10, 2009) - Uranium North Resources Corp. (TSX VENTURE: UNR.V) announces the identification of two high priority uranium targets on its 100% owned Yathkyed Property in Nunavut.
An airborne radiometric and magnetic geophysical survey over the property has detected 56 uranium anomalies. The two most significant anomalies from the survey are at least three times more intense than the other anomalies in the region.
The northern most anomaly is located within 500 metres of three historic uranium prospects discovered in the 1970s. Trenching at these prospects returned 1.9% U3O8 and 0.46% Cu over 1.2 metres and, 0.28% U3O8 over 0.6 metres and 0.85% Cu respectively. In addition, a grab sample assayed 0.38% U3O8 and 0.16% Cu. This intense airborne anomaly does not appear to be coincident with these known high grade occurrences and may represent a more intense part of a larger overall zone of uranium mineralization that spans several hundred metres. The northern anomaly appears to be associated with north-south and east-west trending structures and is accompanied by multiple less intense uranium anomalies.
"This intense airborne anomaly is situated near known uranium mineralization reported as high as 1.9% U3O8 and appears to have potential for lateral extent. This represents a significant new target for the Company and demands immediate follow-up," says Mark Kolebaba, President of Uranium North.
A second anomaly with similar intensity located 6 kilometres to the south also falls along north-south and east-west trending structures and is accompanied by multiple weaker anomalies. A historical grab sample collected near the airborne anomaly yielded 0.16% U3O8.
The airborne survey was successful in identifying several areas with high uranium potential. The two most significant anomalies will be the target of a prospecting program. Additional anomalies on the property may be prospected depending on the availability of time.
Uranium North Resources Corporation is one of the largest Uranium Explorers in Nunavut, Canada's newest emerging mineral district. Nunavut supports responsible exploration and development of uranium projects.
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
Forward-Looking Information
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.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts
Heather Kays
Uranium North Resource Corp.
Corporate Communication
604-484-7120
604-484-7143 (FAX)
info@uraniumnorth.com
www.uraniumnorth.com |
