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Uranium North Identifies Expansion Possibilities on the Mallery Lake Gold/Silver Project
Vancouver, BC, February 1, 2011 - Uranium North Resource Corp.
("Uranium North" or the "Company") (TSX-V: UNR) demonstrates through a
rock and soil sampling program that gold is present in the
volcanic
rock that hosts the gold bearing veins at Mallery. The combined
mineralization within the veins and the adjacent
volcanic rock
considerably increases the mineralized width potential for the project.
In addition, the 2010 rock and soil samples collected from the property
suggest mineralization at Mallery is significantly more widespread than
previously known. The Mallery Lake project is located in Nunavut and is
100% owned by the Company.
Mineralized veins have yielded gold assays greater than 1 g/T Au up to
54 g/T Au.
Silver / gold values occur on a 1:1 to 1:5 ratio with silver
ranging from < 1 g/T to 272 g/T. (See October 14, 2010 news release)
Recent rock samples collected over sizeable intervals of the volcanic
rock hosting the veins have also yielded gold mineralization. Of
particular interest is a composite grab sample yielding 2.19 g/T Au
over 8 metres, and chip samples of
volcanic rocks with minor quartz
vein material returning 1.45 g/T Au over 3 metres and 0.92 g/T Au over
2 metres. Recognizing that gold mineralization occurs in the host rock
as well as the quartz veins increases the potential for wider zones of
mineralization.
Interpretation of soil sample results collected over the project area
indicates that the gold and silver mineralization may be more extensive
than outcrop exposure demonstrates. Mineralization may be continuous
between outcrop exposures along strike for at least
800 metres by 700
metres.
"Based on these data, we feel Mallery has the signature of a large
mineralized gold and silver system. We are designing a drill program to
test the mineralization with the goal of increasing the size of the
known system significantly," says Mark Kolebaba President and CEO of
the Company.
Planning for a 2011 exploration program at the Mallery Lake Property is
underway. Plans include drilling up to 2000 metres and a detailed
sampling program.
About Uranium North
Uranium North owns 100% interest in four drill ready gold/silver/copper
projects and one gold/silver project. The company also owns four
uranium projects including the Amer Lake project which contains a 19.3
million pound uranium resource.
Graham Gill, P.Geo., is the
Qualified Person as defined by National
Instrument 43-101, reviewing the 2010 lab results for the Mallery Lake
project. The 2010 sample results described in this news release were
collected to determine the presence or absence of gold and silver
mineralization and should not be interpreted as being representative of
average grades. Samples were prepared and analyzed at ALS Canada Ltd.
using the ultra low detection limit multi-element package ME-MS41L on a
sample size of 0.5 grams. The sample is digested by aqua regia and
finished with ICP-AES or ICP-MS. Coarse materials such as native gold
may not be detected in such a small sample size so gold content was
reanalyzed using analytical method AU-TL43 on a 12.5 gram sample size.
This method uses an aqua regia digestion with an ICP-MS finish.
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