Uranium North Expands Mallery Lake Gold Target
8/12/2010 10:00:47 AM - Market Wire
VANCOUVER, BRITISH COLUMBIA, Aug 12, 2010 (MARKETWIRE via COMTEX News Network) --
UraniumNorth Resources Corp. (TSX VENTURE: UNR) announces expansion of theMallery gold structure and identifies new gold targets further north onthe property. The Mallery gold structure has historically yielded goldvalues up to 24.62 g/t Au and 110 g/t Ag.
The Mallery Stockworkconsists of a network of quartz veins up to 20 metres wide hosted withinrhyolite. Three areas with gold mineralized bedrock exposure have beenmapped intermittently over more than 700 by 500 metres suggesting thepossibility for at least three east-west trending zones. Coincidentsubtle geophysical and geochemical soil anomalies demonstrate thepotential for continuity within vegetated areas lacking outcrop. Thesestructures are open along strike and additional structures may exist tothe north and south. The 24.6 g/t Au, 110 g/t Ag sample is located onthe eastern structure.
Additional vein stockwork has beendiscovered over an area of 60 metres extending the stockwork zone to thenorthwest. At the western stockwork zone, veining has been observednearly 50 metres along strike where bedrock exposure is limited by swampcover. Depending on gold assays, this may represent another significantexploration target on the property.
A total of 53 rock sampleswere collected from Mallery by Uranium North earlier this summer. Inaddition, 233 till samples were collected; 210 of which are geochemicalsamples from areas lacking outcrop exposure and 23 are heavy mineralsamples from areas with previously identified angular gold grains intill. This data will be used to identify targets for an anticipateddrill program this fall.
The Mallery Lake property is located in Nunavut and is 100% owned by the Company.
BruceKienlen, P.Geol, is the Qualified Person as defined by NationalInstrument 43-101, responsible for collection of the till samples on theproject prior to 2010 and has reviewed and approved the technicalinformation relating to these till samples in this release. LindaErdman, P. Geo is responsible for design and execution of the 2010program and has reviewed historical reports for the property. Thehistorical work has not been verified by the Company, however, itappears to have been completed under standard best practices consistentwith the time and appears to be of reasonable quality.
About Uranium North
UraniumNorth Resources Corp. is a Canadian company with a Nunavut focus.Uranium North holds title to the second largest uranium resource inNunavut, 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
Forward-Looking Information
Thisrelease includes certain statements that may be deemed "forward-lookingstatements". All statements in this release, other than statements ofhistorical facts, that address exploration drilling, activities andevents or developments that Uranium North Resources Corp (the "Company")expects to occur, are forward-looking statements. Although the Companybelieves the expectations expressed in such forward-looking statementsare based on reasonable assumptions, such statements are not guaranteesof future performance and actual results or developments may differmaterially from those in the forward-looking statements. Factors thatcould cause actual results to differ materially from those in forwardlooking statements include market prices, exploration successes, andcontinued availability of capital and financing and general economic,market or business conditions. Investors are cautioned that any suchstatements are not guarantees of future performance and actual resultsor developments may differ materially from those projected in theforward-looking statements. The Company does not assume any obligationto update or revise its forward-looking statements, whether as a resultof new information, future events or otherwise.
Neither the TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
Contacts: Uranium North Resource Corp. Heather Kays CorporateCommunication 604-484-7120 604-484-7143 (FAX) info@uraniumnorth.comwww.uraniumnorth.com
SOURCE: Uranium North Resources Corp.
mailto:info@uraniumnorth.com https://www.uraniumnorth.com
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