Uranium North Identifies High Gold, Silver and Copper Mineralization on the F13 Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/01/10 -- Uranium North Resources Corp. (TSX VENTURE: UNR) announces high grade gold, copper and silver on its 100% owned F13 Property in Nunavut. Grab samples from mineralized rocks across the property have yielded numerous high grade assay values including 399.0 g/T gold, 129 g/T Ag and 17.1% copper.
'This is the third project from our 2010 exploration program to return high values. This program not only confirmed historical showings at F13 but also identified new target areas. Due to the number of high grade gold/silver/copper showings, F13 is a top priority, multi-commodity project for the company,' says Mark Kolebaba, President and CEO of the Company.
Mineralization at F13 occurs over an area extending approximately 1 by 1 kilometre and appears to be related to quartz and carbonate veins in variably altered volcanic rocks. A total of 44 rock samples were collected, 23 samples assayed greater than 1 g/T gold, 19 assayed greater then 1% copper and 24 assayed greater then 1 g/T silver.
Table 1 - Top 30 rock samples collected at F13 in 2010
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Au g/T Ag g/T Cu % Au g/T Ag g/T Cu % Au g/T Ag g/T Cu %
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399 129 8.41 8.52 12.4 1.12 1.95 1.4 0.01
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91.1 38 17.1 7.89 9.9 14.45 1.845 1 2.54
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55.4 14.8 9.43 7.52 4.7 13.45 1.73 0.4 0.58
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48.8 16.1 0.06 7.23 2.1 9.43 0.96 7.5 9.41
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21.2 6.9 6.14 6.95 8.1 5.01 0.56 2.1 4.96
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20 13.3 4.66 6.71 0.8 0.02 0.39 6.1 3.2
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17.75 17.6 0.36 4.45 4.8 2.6 0.31 0.5 1.55
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13.15 4 0.14 4.44 0.4 0.64 0.3 2.3 4
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9.21 2.6 0.01 3.32 2.2 0.05 0.25 1 0.96
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9.11 2.7 0.04 2.5 1.4 6.33 0.05 0.7 1.79
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All samples assayed were grab samples.
The 2010 program confirms historical sample results and has identified additional new high priority areas on the property. In addition, the results highlight two types of mineralization on the property; high gold - high copper/silver and high gold - low copper/silver. A review of the 2010 soil geochemical data and ground magnetics conducted this year is underway for the property. A detailed structural and geological analysis of the property will be completed prior to planning the 2011 exploration program.
F13 is located in the Agikuni Lake area of Nunavut in close proximity to the Robin and An projects. All three projects contain high grade gold, silver and copper and may be worked together on future programs as one project called the Angikuni Lake project for cost savings.
About Uranium North
Uranium North Resources Corp. has generated and advanced 6 gold properties in central Nunavut. The Company also owns 100% of the Amer Lake uranium deposit, one of the largest 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. The 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
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.
'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.'
Contacts:
Uranium North Resource Corp.
Heather Kays
Corporate Communication
604-484-7120
604-484-7143 (FAX)
info@uraniumnorth.com
www.uraniumnorth.com