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Re: News Release - Thursday, August 12, 2010
Uranium North Expands Mallery Lake Gold Target
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Vancouver, August 12, 2010 - Uranium North Resources Corp (UNR - TSX-V)
announces expansion of the Mallery gold structure and identifies new
gold targets further north on the property. The Mallery gold structure
has historically yielded gold values up to 24.62 g/t Au and 110 g/t Ag.
The Mallery Stockwork consists of a network of quartz veins up to 20
metres wide hosted within rhyolite. Three areas with gold mineralized
bedrock exposure have been mapped intermittently over more than 700 by
500 metres suggesting the possibility for at least three east-west
trending zones. Coincident subtle geophysical and geochemical soil
anomalies demonstrate the potential for continuity within vegetated
areas lacking outcrop. These structures are open along strike and
additional structures may exist to the north and south. The 24.6 g/t
Au, 110 g/t Ag sample is located on the eastern structure.
Additional vein stockwork has been discovered over an area of 60 metres
extending the stockwork zone to the northwest. At the western stockwork
zone, veining has been observed nearly 50 metres along strike where
bedrock exposure is limited by swamp cover. Depending on gold assays,
this may represent another significant exploration target on the
property.
A total of 53 rock samples were collected from Mallery by Uranium North
earlier this summer. In addition, 233 till samples were collected; 210
of which are geochemical samples from areas lacking outcrop exposure
and 23 are heavy mineral samples from areas with previously identified
angular gold grains in till. This data will be used to identify targets
for an anticipated drill program this fall.
The Mallery Lake property is located in Nunavut and is 100% owned by
the Company.
Bruce Kienlen, P.Geol, is the Qualified Person as defined by National
Instrument 43-101, responsible for collection of the till samples on
the project prior to 2010 and has reviewed and approved the technical
information relating to these till samples in this release. Linda
Erdman, P. Geo is responsible for design and execution of the 2010
program and has reviewed historical reports for the property. The
historical work has not been verified by the Company, however, it
appears to have been completed under standard best practices consistent
with the time and appears to be of reasonable quality.
About Uranium North
Uranium North Resources Corp. is a Canadian company with a Nunavut
focus. Uranium North holds title to the second largest uranium resource
in Nunavut, the Amer Lake Deposit. While maintaining its focus on
uranium, the company has initiated exploration for gold on 3 projects.
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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Copyright (c) 2010 URANIUM NORTH RESOURCES CORP,. (UNR) All rights
reserved. For more information visit our website at
http://www.uraniumnorth.com/ or send mailto:info@uraniumnorth.com
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Uranium North Resources
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EXPLORATION STAGE |
CODE : UNR.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Uranium North Res. is a uranium exploration company based in Canada. Uranium North Res. holds various exploration projects in Canada. Its main exploration properties are MALLERY LAKE, AMER LAKE, THELON PROJECT (SOUTH BAKER), HEPBURN and AURA GOLD PROPERTY in Canada. Uranium North Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 1.7 millions as of today (US$ 1.7 millions, € 1.2 millions). Its stock quote reached its highest recent level on December 31, 2007 at CA$ 1.78, and its lowest recent point on February 15, 2013 at CA$ 0.02. Uranium North Res. has 85 555 000 shares outstanding. |