Uranium North Reports Drill Program Underway on the Mallery Gold-Silver Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/13/11 -- Uranium North Resource Corp. ('Uranium North' or the 'Company') (TSX VENTURE: UNR) reports that the drill program has commenced on the Company's 100% owned Mallery gold-silver project in Nunavut. Approximately 1000 metres of drilling are planned for the project.
On Mallery, there are four outcrop exposures with mineralized veins over an 800 by 800 metre area. Geophysical and geochemical data suggests that the areas could be part of one large system. Drill holes are planned to test the continuity of mineralization on the four areas plus a fifth geophysical target. Please view the new Mallery project video on our company website at www.uraniumnorth.com.
'The accompanying video presentation and map describing the program demonstrate why we are excited about Mallery. It is a program designed to evaluate the continuity, grade and width of high grade gold and silver veins. We are ultimately testing for the presence of a deposit with open pit mining potential,' says Mark Kolebaba, President and CEO of Uranium North Resources.
The 2011 Mallery drill program will test the width and strike characteristics of the mineralized zones, evaluate the nature and distribution of gold in veins and host rock and test the distribution and frequency of the mineralized veins. An attempt will be made to determine the geological relationship between the resistivity highs and gold mineralization. A detailed description of the drill holes and a location map are posted on the Uranium North website www.uraniumnorth.com/s/goldprojects.asp.
In addition to drilling, detailed geophysical ground surveying and prospecting are planned. A significant gold grain anomaly that has been identified 3 kilometres to the south will also be investigated.
Drilling is being carried out by Lantech Drilling Services Inc. using a heli-portable BBS 25A diamond drill. Drill core will be logged on site by a geologist. Bruce Kienlen, P.Geol, and Graham Gill, P.Geo, are the Qualified Person as defined by National Instrument 43-101, reviewing data for this property.
About Uranium North
Uranium North Resources is focused on gold, silver and uranium in Nunavut. All properties are 100% owned including the Amer Lake uranium deposit, one of the largest uranium resources in Nunavut. The Company will be drilling the Mallery and Nowyak gold and silver properties and carrying out a low cost expansion program on the Amer Lake uranium deposit in 2011.
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