Uranium North Reports Drill Mobilization Underway on the Mallery Gold-Silver Project
June 23 2011 - 9:00AM
Marketwired
Uranium North Resource Corp. ("Uranium North" or the "Company")
(TSX VENTURE: UNR) reports that a two year land use permit and five
year water license for drilling on the Company's 100% owned Mallery
gold-silver project in Nunavut has been issued. A contract with
Lantech Drilling Services Inc. is finalized and mobilization of the
drill from Baker Lake to the Mallery project will begin shortly.
Plans for the program are being finalized and will include
drilling to test:
-- the frequency of veining and open pit potential of the Stockwork zone
-- a 200 metre wide resistivity high, on the east side of the Stockwork
zone
-- the extent and width of the 17 Vein where samples assayed up to 54 g/T
Au 272 g/T Ag
-- the Western zone, where a grab sample returned 8.6 g/T from a 3 metre
wide vein
-- the Tundra zone mineralization.
"We have some fantastic targets to drill on Mallery. This is the
first time this area has been drilled so the potential for a
significant discovery is quite possible," says Mark Kolebaba,
President and CEO of Uranium North Resources.
The resistivity high, coincident with and flanking the quartz
Stockwork zone, is a priority target that may indicate intense
quartz veining and silica alteration. Gold and silver
mineralization at Mallery is associated with quartz veining and
silica alteration.
In addition to drilling, detailed ground magnetic surveying and
prospecting are planned. A significant gold grain anomaly that has
been identified 3 kilometres to the south will also be
investigated.
About Uranium North
Uranium North Resources is a multi-commodity company 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
gold/silver project, the Nowyak gold deposit and carrying out a low
cost expansion program on the Amer Lake uranium deposit in
2011.
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.
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 Resources Corp. Heather Kays Corporate
Communication 604-484-7120 604-484-7143 (FAX) info@uraniumnorth.com
www.uraniumnorth.com
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