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UNR Weekly Price Action Review
Note: All prices are daily closes.
Monday 2/2/09 .11
Tuesday 2/3/09 no trades
Wednesday 2/4/09 .11
Thursday 2/5/09 .105
Friday 2/6/09 .095
Friday 1/30/09 .11
Wednesday 1/28/09 .12
Clearly UNR is going south but there always seems to be someone that starts buying again causing the price to go up.
You're right futrcash. The weaker the Canadian dollar, the more shares we can buy. :)
Yet many Canadians that live near the U.S., still shop in the states because they can buy some things here much cheaper than in their own country (like gasoline for example).
Canada taxes gas a lot more than we do and they measure gasoline by litres not gallons (the litre is a smaller unit than a gallon) which also tends to make gas at the Canadian retail pump more costly than in the U.S.
Canadian Stocks Selling @ a Significant Discount for U.S.Investors:
http://www.bloomberg.com/apps/news?pid=20601082&sid=az2Jrr_F0m7o&refer=canada
futrcash
UNR after the market close. Todays trading volume was much less than yesterdays 23,015 compared to +350,000 respectively.
Somebody paid .12 each for 2000 shares UNR at 3:28 P.M. E.S.T. thus effectively lifting UNR from a share price loss of .015 to a gain of .005 a share.
An Intraday Look At UNR
As of 12:47 in the afternoon...
Open .135
High .135
Bid Price .11
Ask Price .125
Bid Size 24,000 shares
Ask Size 2,000 shares
Last 10 trades
Time Price Shares Change
11:58 .11 1000 -.005
11:57 .11 1000 -.005
11:56 .11 1000 -.005
11:30 .12 1000 +.005
11:29 .12 1000 +.005
11:04 .135 3500 +.020
10:04 .135 2000 +.020
09:30 .135 1000 +.020
09:30 .135 1000 +.020
09:30 .135 3500 +.020
In the last 2 days, buying has come in at the very beginning of the day and profit taking has occured the rest of the day.
Actually, yesterday was even more dramatic in price action because the sp OPENED at .175 (almost 100% higher than the close of .09 the previous day)! Talk about a price gap!
My guess (and hope) is the sp will ease down closer to the .09 level at close tonight.
All this action because UNR's Prez Mark Kolebaba came out with a RETRANSMISSION of a previous news release which the market had yawned at!
Anytime EnergyGuy - glad to hear the welcome updates from you/someone who seems to know the company!
Cheers
Good point Ngas!
Hmmm that presents something of a dilemma for me. What I like to do is wait for the market to close and then give a total view (news releases and sp closes) for the whole day...a sort of capsulized recap.
But you're certainly right...if I wait until the end of trading, potential buyers/sellers might not benefit in trading the stock during the day.
Well, I can always try to do an earlier intraday look at market action of the stock while trading is still going on.
Thanks for your excellent comment Ngas!
EnergyGuy - LOVE the enthusiasm, however the PR that was out on Friday was after 4pm, thus for both PRs - today was the first day they were reflected in trading!
UNR UP 27.78% today! Share price rises 2.5 cents from previous close of 9 cents to close today at 11.5 cents on a trading volume that was over 300 k shares!
You know whats amazing about this?
The company DID put out a news release today but it was EXACTLY THE SAME as the one put out 3 days ago except that they had the word 'RETRANSMISSION" beginning it!
Uranium North Identifies the Potential for 11 to 17 Million Pounds U3O8 at the Amer Lake Main Zone Uranium Deposit; Remains open Down Dip and Along Strike
==============================================
Re: News Release - Friday, January 23, 2009
Uranium North Identifies the Potential for 11 to 17 Million
Pounds U3O8 at the Amer Lake Main Zone Uranium Deposit; Remains
open Down Dip and Along Strike
==============================================
Vancouver, January 23, 2009 - Uranium North Resources Corp (UNR -- TSX-V) announces an evaluation of historic and 2008 drill hole data on the Amer Lake Main Zone uranium deposit in Nunavut demonstrates a minimum target of 11.5 to 17.5 million pounds from 6,200,000 tonnes at 0.084% U3O8 to 13,400,000 tonnes at 0.06% U3O8 respectively. The deposit extends from surface to a depth of 140 metres.
Infill drilling in 2009 has the potential to greatly increase the size of the deposit and will provide the basis for the preparation of a National Instrument 43-101 compliant resource.
"Our initial 2008 drill program clearly demonstrates Amer Lake has potential to host a sizable uranium deposit," says Mark Kolebaba President, Uranium North Resources.
"I feel the target deposit size is conservative and since the uranium mineralization is stratigraphically controlled and open to the south and east our exploration target is significantly larger."
Drilling in 2009 will be focused in and around the deposit area. The program will include infill drilling to reduce the drill spacing and further test continuity of the mineralization within the historic deposit and towards drill hole UNR-15 which intersected uranium mineralization 550 metres to the south.
Expansion drilling southwest, south and east of the deposit will be conducted. This work will be the basis for preparing a National Instrument 43-101 resource for the deposit possibly greater than the historic 6.7 million pounds.
The Data
As part of an evaluation to determine Amer Lake's potential to host a significant uranium resource, Uranium North completed several reverse circulation (RC) drill holes south and east of the deposit in 2008 (see News Release, January 13, 2009). Of particular interest, hole UNR-15, considered a significant step-out hole, was drilled 550 metres south of the deposit.
UNR-15 intersected two mineralized horizons between 115 and 131 metres depth, including a 1.52 metre horizon grading 0.292% U3O8 and a lower 4.56 metre thick horizon grading 0.075% U3O8.
Hole UNR-5, also considered a significant step-out hole, was drilled approximately 90 metres south and 270 metres east of the deposit. This hole intersected two mineralized horizons within 22 metres of surface including a 1.52 metre thick zone grading 0.10% U3O8.
Based on historic drilling, the deposit was estimated to contain 4.3 million metric tons @ 0.07% U3O8 for a total of 6.7 million lbs U3O8 (1978 Cominco Ltd. Property
Evaluation and Work Proposal).
This resource is historical and does not conform to the Standards of Disclosure for Mineral Projects as required by National Instrument 43-101 and should not be relied upon however, it does indicate the presence of potentially significant uranium mineralization.
The parameters used in the historic resource calculation included cutting high assays to an arbitrary 0.3% U3O8, and using a minimum mining width of 1.8 metres, a cut-off grade of 0.05% U3O8, a 15% (zero grade) dilution and a specific gravity of 2.7 gm/cm3.
Resource blocks ranged in length (along strike) from 100 to 250 metres and a slope distance (along dip) from 75 to 210 metres.
Technical Analysis
GeoVector Management Inc. of Nepean, Ontario was contracted to conduct an independent assessment of the deposit incorporating Aquitaine's 1970 drill core data and Uranium North's 2008 drill data. The database includes drill hole locations, orientations, lengths and survey data, down-hole lithology information and assay data for 31 relevant drill holes.
Three-dimensional computer modelling of the drill database allowed the drill holes and the mineralized zones to be viewed in spatial relationship to each other, in particular the 2008 drilling relative to the historic drill holes.
On the basis of this model, assumptions were made on the dip and strike of the mineralized zones and on the spacing between mineralized intercepts.
GeoVector calculated a potential target mineral deposit at cut-off grades of 0.02%, 0.03%, 0.04% & 0.05% U3O8, using a minimum mineralized thickness of 2.0 metres and a specific gravity value of 2.7 gm/cm3.
Mineralized blocks were determined by halving the distance east, west, north and south to the next mineralized drill hole, with a 100 metre maximum radius (maximum potential 200m x 200m blocks).
In several instances the trend of mineralization was extrapolated up to an assumed surface exposure, and a rough estimate was made of the distance from the drill hole to this surface for the up-dip (north) extent of the block.
Although hole UNR-15 was drilled 550 metres south of the original deposit, an area of interest was limited to 200 metres radius. Additional infill drilling is required to determine if the mineralization intersected is part of the original deposit or part of a separate deposit.
On the basis of these observations the block areas were calculated and this number was multiplied by the intersection thickness to arrive at block volume estimates. The quantity and grade of the target deposit, at the various cut-offs is tabulated below. At a cut off range of 0.02 -- 0.05% U3O8, the target deposit is estimated to range from 11.5 to 17.5 million pounds at grades of 0.06 to 0.084% U3O8.
Target Resource Estimate
----------------------------------------------
CUT OFF GRADE AVERAGE U3O8% TONNES POUNDS U3O8
U3O8%
----------------------------------------------
0.02 0.060 13,487,281 17,664,119
----------------------------------------------
0.03 0.066 11,158,914 16,428,086
----------------------------------------------
0.04 0.079 8,335,125 14,387,988
----------------------------------------------
0.05 0.084 6,174,909 11,471,763
----------------------------------------------
The reader should be cautioned that the potential quantity and grade is conceptual in nature, that there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.
In the deposit, uranium mineralization is stratigraphically controlled and occurs in a series of sandstone horizons that dip shallowly to the south at 20 to 40° from the surface. The company believes that this is an important aspect of Amer Lake as this type of target lends itself to open pit and or strip mining practices. So far, drilling demonstrated that mineralized horizons extend to the south 550 metres and along strike approximately 1700 metres.
Mineralized horizons are multiple and range in thickness from less than 1.50 metres at 0.29% to 4.5 metres at 0.07% U3O8. The deposit is classified as a sandstone-hosted uranium deposit with possible localized higher grade, structurally controlled uranium mineralization.
The Amer Lake Property is located 145 kilometres north of Baker Lake, Nunavut and 70 kilometres northwest of a newly constructed all-season road, which was constructed to service the Agnico Eagle Meadowbank gold deposit from Baker Lake.
Allan Armitage, Ph.D., P.Geol., Vice President - Exploration of Uranium North, is a Qualified Person as defined by National Instrument 43-101, and is responsible for quality control of exploration undertaken by the Company and has reviewed and approved the technical information in this release.
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
Trading In UNR Today...the final close doesn't really tell the story.
There was a lt more buying at .07 then at .09. So I still cling to my hope that I will be able to buy this stock at lower prices in a month or so.
Hey! Who's buying UNR right now? Everytime it goes down, BAM somebody starts buying and drives the price higher!
I want UNR to go down lower and then, in a month I can buy a whole bunch of shares to add to the 30K I already own.
Okay everybody! Stop buying the stock until I can add 100k to what I already own! That's an order now harrupp!! :))) (Just kidding).
62:
Both of your last posts were very informative, thank you very much.
Nice to see a smaller-cap company with true assets and no overwhelming debt structure waiting to wipe us all out!
I talked to UNR's V.P. of Exploration.
I learned the following:
1. The Amer Lake uranium deposit is a flat tabular mineralization..a classic tabular sandstone deposit which is common in Africa.
Although relatively low grade (.07% U308), it occurs over a large area and can be easily mined from the surface following it at an angle downdip below surface. Also there are some "sweet spots" in the deposit with higher grades that help increase its commercial value.
The large area is important because it indicates LARGER TONNAGE of ore. Most investors are fixating over grade alone when THE REAL FORMULA IS grade x tonnage = value of deposit INSTEAD OF SIMPLY grade = value.
2. UNR is very aware that the public has misinterpreted the Amer Lake results and will issue a more elemental news release shortly.
3. UNR is continung its hunt for a JV partner. The ideal candidate would be a company with cash that hasn't been successful in finding uranium so far.
4. UNR will be updating its website in the near future.
That is all for now. I hope reader that this post has been of some value to you.
Ngas, for UNR financials go to
http://www.sedar.com/DisplayProfile.do?lang=EN&issuerType=03&issuerNo=00024091
Note: this excellent link was furnished by sumi (my assistant). Thanks Sumi! :)
EenergyGuy:
One of the "demons in the closet" for the joke you and I know as EDEX was the complete lack of transparency. Thus for UNR, I wanted to look at a brief Financial Analysis - but none exists on BBG, nor do any 10-Ks or Qs seem available.
Do you know if there is any debt structure outstanding, or any liabilities that are noteworthy for this company (outside the share structure)? Any reason quarterly reports (or any auditied financial reports) ceased in May of 2008?
Thanks!
Love to see UNR share price dropping. It gave up another 2 cents today.
I sold some UNR at 12.5 cents/share in order to buy some DDN and MTP.
Feel very good with those trades.
Hope UNR drops to 4 or 5 cents/share. If, by that time, I've made a profit in one of my other companies, I would be in a great position to load up on more UNR.
Of course, this is predicated on my gaining complete understanding of Mark's latest news release which, in my mind, left some questions unanswered.
In gaining a better understanding of the latest news release, doubtless I would gain a better understanding of the direction the company was moving to advance its properties.
I'm going to call UNR in Vancouver either tomorrow or Friday and ask Mark Kolobaba (the Prez/Ceo of UNR) some questions about his 1/12/09 news release.
I will post if possible either with a clean line or a static-filled line. :(
The AT&T technician was supposed to be at my home by 7 P.M. but he didn't make it! Called their repair dept. and told them. They said their tech would be there Thursday somewhere between 1 P.M. and 5 P.M.
I sure hope so!
I'm having real trouble using my telephone dial up via my webTV to get on the internet.
Too much static in my telephone line.
Hope to have a telephone guy clear it up tomorrow. But hedidn't call me back so maybe not. :(
Technoogy is great when it works but a real corker when it doesn't.
I will comment on the Amer Lake results sometime later after I get the static cleared up.
Uranium North Expands the Amer Lake Main Zone Uranium Deposit 550 Metres South and 270 Metres East
10:53 AM ET, January 13, 2009
VANCOUVER, BRITISH COLUMBIA, Jan 13, 2009 (Marketwire via COMTEX) -- Uranium North Resources Corp. (UNR) announces the intersection of uranium mineralization south and east of the Main Zone uranium deposit located on the 100% owned Amer property in Nunavut.
Reverse circulation (RC) holes completed in the area of the deposit intersected uranium mineralization south of the Main Zone and along strike of the deposit. The drilling confirms grade and thickness of mineralization intersected in historic drilling within the deposit and significantly expands the size potential of the deposit.
Mineralization is near surface and is open to the south, east and southwest.
"Intersecting uranium mineralization 550 metres south of the Amer Lake Main Zone demonstrates the size potential of this deposit. What is especially interesting is the mineralization appears to continue and remain open for expansion further south," says Mark Kolebaba, President and CEO of Uranium North Resources Ltd.
"The 2008 drill program was highly successful in expanding the resource potential of the Main Zone deposit and has demonstrated to the Company that the deposit is potentially a very sizable uranium resource warranting intensive exploration."
RC hole UNR-15, drilled 550 metres south of the Main Zone deposit, intersected two mineralized horizons between 115 and 131 metres depth, including a 1.52 metre horizon grading 0.292% U3O8 and a second 4.56 metre horizon grading 0.075% U3O8. This hole demonstrates the potential to significantly increase the size of the Main Zone to the south and verifies the presence of higher grade uranium zones.
RC hole UNR-5 was drilled approximately 90 metres south and 270 metres west of the deposit. UNR-5 intersected two mineralized horizons within 22 metres of surface including a 1.52 metre zone grading at 0.10% U3O8.
RC hole UNR-4, drilled 225 metres south of the deposit, intersected multiple mineralized horizons between 15 and 71 metres of surface. Mineralized horizons range from 1.52 - 4.56 metres grading 0.014 to 0.047% U3O8 (see table below).
RC hole UNR-21, drilled 50 metres south of the deposit, intersected multiple mineralized horizons between 75 and 125 metres depth. Mineralized horizons range from 1.52 - 3.04 metres grading 0.017 to 0.048% U3O8.
-----------------------------------------------------------
        From        To     Interval
Drill hole  (m)  (m)  (m)   % U3O8   lbs/ton
-----------------------------------------------------------
UNR-15Â Â 115.52Â Â 117.04Â Â Â 1.52Â Â Â 0.292Â Â Â 5.84
   126.16   130.72   4.56   0.075   1.5
including  129.2  130.72  1.52  0.203  4.06
-----------------------------------------------------------
UNR-5Â Â Â 1.52Â Â Â 4.56Â Â Â 3.04Â Â Â 0.022Â Â Â 0.44
   19.76   21.28   1.52   0.106   2.12
-----------------------------------------------------------
UNR-4Â Â Â 15.2Â Â Â 18.24Â Â Â 3.04Â Â Â 0.014Â Â Â 0.28
   27.36   30.4   3.04   0.018    0.36
   33.44   34.96   1.52   0.015   0.30
   38   42.56    4.56    0.027    0.54
   53.2   54.72   1.52   0.047    0.94
   69.92   71.44   1.52   0.012   0.24
-----------------------------------------------------------
UNR-21Â Â Â 74.48Â Â Â 77.52Â Â Â 3.04Â Â Â 0.032Â Â Â 0.64
   86.64   89.68   3.04   0.017   0.34
   100.32   101.84   1.52   0.048   0.96
   115.52   118.56   3.04   0.022   0.44
   123.12   124.65   1.53   0.021   0.42
-----------------------------------------------------------
true thickness unknown
An additional two RC holes, UNR-2B and UNR-3 were drilled 200 to 300 metres directly west of the Main Zone and a northwest-trending fault, which appears to have offset the mineralization to the south. These two holes were collared in rocks which typically underlie rocks that host the mineralization in the deposit. An additional hole, UNR-12 drilled 650 metres west of the Main Zone and 350 metres west of UNR-5 was lost at 9 metres depth.
The Amer Lake Property is located 145 kilometres north of Baker Lake and is 70 kilometres northwest of a new all-season road, which was constructed by Agnico Eagle to service the Meadowbank gold deposit.
A laterally extensive (more than 25 kilometres) shallow south-dipping (20-40 degrees) sequence of sandstones, siltstones and minor dolostones of the Paleoproterozoic Amer Group underlies much of the property and is host to the Main Zone uranium deposit and a number of other uranium showings.
In the deposit, uranium mineralization is stratigraphically controlled and occurs in a series of thin beds over a stratigraphic interval of 250 metres and a strike length of 1500 metres. Assay values range from 0.5 - 1.5% U3O8 over 0.2 metre thicknesses enclosed in greater thicknesses of 1.5 - 2.0 metres with up to 0.17% U3O8.
The Amer Lake deposit appears to be a sandstone-hosted uranium deposit with possible localized higher grade, structurally controlled uranium mineralization.
Based on historic drilling, the Main Zone deposit was estimated to contain a resource of 4.3 million metric tons @ 0.07% U3O8 for a total of 6.7 million lbs U3O8. This resource is historical and does not conform to the Standards of Disclosure for Mineral Projects as required by National Instrument 43-101 and should not be relied upon.
The resource calculation included cutting high assays to an arbitrary 0.3% U3O8, and used a minimum mining width of 1.8 metres, a cut-off grade of 0.05% U3O8, a 15% (zero grade) dilution and a specific gravity of 2.7 gm/cc. Resource blocks ranged in length from 100 to 250 metres and slope distance from 75 to 210 metres.
Plans for the Main Zone deposit include immediate modeling of historic and 2008 drill holes to better understand the geological characteristics of the mineralization.
A re-evaluation of the historic resource incorporating the 2008 RC data is also being completed in order to determine the potential range in quantity and grade of uranium mineralization in the Main Zone. This will provide a target for the next phase of exploration.
Drilling is planned for 2009 in and around the deposit area and will include infill drilling to reduce the drill spacing within the deposit, and expansion drilling southwest, south and east of the deposit. This work will allow the Company to complete a compliant 43-101 resource calculation, and expand the resource.
A total of 1,763 metres of RC drilling were completed in 2008 in sixteen holes. All holes were drilled vertically. All intersections reported are down-hole, core-length intervals using a 0.01% U3O8 cut-off grade. The true thickness of mineralized zones is yet to be determined.
Quality Control/Quality Assurance
A total of 519 RC samples of 1.52 - 4.56 metres in length were processed at the Saskatchewan Research Council (SRC) Geoanalytical Laboratories, which is an ISO/IEC 17025 accredited laboratory for mineral analysis testing located in Saskatoon, Saskatchewan.
Samples were analysed using SRC's Uranium Exploration ICP Package, which includes uranium by total digestion ICP-OES analyses, uranium by partial digestion ICP-OES analyses and uranium by fluorimetry analyses. All samples having more than 1000 ppm uranium were assayed using a uranium assay dissolution procedure. Numbers reported are for uranium by fluorimetry (less than 1000 ppm).
Laboratory method quality control included the insertion of certified reference materials applicable for the ranges of mineralization encountered. Repeat analyses were performed on every 20th sample.
Allan Armitage, Ph.D., P.Geol., Vice President - Exploration of Uranium North, is a Qualified Person as defined by National Instrument 43-101, and is responsible for quality control of exploration undertaken by the Company and has reviewed and approved the technical information in this release.
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.
SOURCE: Uranium North Resources Corp.
Uranium North Resources Corp.
Heather Kays
Corporate Communication
(604) 484-7120
(604) 484-7143 (FAX)
Email: info@uraniumnorth.com
Website: www.uraniumnorth.com
Sumi, thanks for your work on the iBox of UNR. :)
Loving the lower "bid" and "ask" of .08 and .085 on UNR.
YARR me hearties!!! There be opportunity in this one in the next 30-60 days!
Thanks for the chart sumi. :)
There are a lot of people that use them so its good for them and good for this board.
URANIUM NORTH CHART
URANIUM NORTH CHART
Keep going down baby! The more UNR goes down, the more easily I will be able to buy more shares.
Both of my Canadian diamond companies are getting ready to come out with major announcements in the next week to 30 days time frame.
Those announcements should generate buying volume causing momentum upwards in share prices which will allow me to cash out some shares so that I can buy more UNR. :)
Well said Ngas!
As if what you said weren't enough to condemn the oil/gas initiatives, petroleum also faces an enormous hurdle in drill and labor costs.
Not to mention excessive amounts of turnaround time when crews must literally struggle to pull ALL the pipe out of the ground to replace a drill bit!
Uranium companies can drill many drill holes using the SAME DRILL BIT (because their targets are much shallower than their oil and gas counterparts.
This is an ENORMOUS ADVANTAGE that every investor should be aware of!
EnergyGuy - I completely agree with your best post - the time to buy is when no one else wants to.
Funny you chose this name, my entire coverage base (clients) is in Canada, thus I'm fairly familiar with the country.
The reason I like Uranium in general is as follows.
Yes, we're in a heck of a global recession and energy has fallen off a cliff. Not only would I not be surprised, but I expect oil to fall dramatically still (don't care if it's to $10, $12, $15 or $18 a barrel - all genreally the same thing to me). However at some point in the 1-3yr time frame, when energy goes back to AT LEAST it's marginal cost of prod (say $60-$90 and ultimately higher), there will once again be a mad-rush focus on alternative fuel options.
Ethanol - basically a joke. You create MASSIVE global inflation, it's totally inefficient & costly, and technology is still in phases where subsidies are needed.
Solar - great stuff, but not NEARLY enough available.
Nuclear is the ONLY sensible fuel source which is clean, efficient and plentiful enough as a realistic alternative.
KEY ISSUE NOW: Relative to nuclear plants, the commodity itself is very very plentiful from a supply standpoint. While unlikely to change in near term - I still am always a believer of buying when there's blood in the streets. I just think there will be a better entry opportunity in 3-6mo time frame.
Caveat - Uranium is newer to me - my writing above is mostly opinion/sensical thoughts. But when things in the past make "gut-sense", I dare say those have been "my good trades"!
My goal with UNR is to acquire another 100,000 shares hopefully this year to join the 30,000 I already own.
I would keep the 100,000 and trade the 30,000 a soon as situations and prices warranted it.
I also have 3 other stocks that I'm working hard through timely trading to increase my positions in.
UNR'S share price up 14.29% today...from yesterday's close of .105 Canadian to .120 Canadian today.
UNR's share price up 17% today.
If you woud like to see THE LAST 30 DAYS OF SHARE PRICES for Uranium North, simply go back to post #2 and click onto the link inside the post.
Thanks Sumi for your post. :) I talked to a guy about Dennison. He said that they should start making a profit again as soon as their new mine in Canada goes into operation for awhile. They have access to a mill in the Millenium mine area of Canada.
What had hurt Dennison was they were using lower grade American ore and were getting far less money for it.
Please keep UNR on your radar screen Sumi.
Of course, as I'm sure you already know, the trick to buying small Canadian resource juniors is timing. You want to buy after the price drifts lower during the time they are not drilling or awaiting news but before new activity starts.
>You iBox is very informative.
I had been in UNR.V before the uranium meltdown.
I recently opted to buy DNN at 66 cents thus seeking a revenue producing company.
If I had funds left for a junior company, I would buy Uranium North.
Excellent recent rise in price!
sumi
Ngas, thanks for your interest and posting. The reason that UNR's chart looks "scary" is because of the quality of its properties (people bid up the sp) and the fact that the company didn't drill right away but rather did the right things, lots of flyover geophysics, ground sampling, geochems and, as warranted, financings at comparitively high levels which gave more money to the treasury.
Plus, before that, they had to assemble the land package of properties that they currently
have a 100% interest in.
Those properties consist of more than 3 million acres with excellent potential (as the first drill results from Hawk and even more so the KAM property would indicate).
The properties range from Hawk and Kam (shallow to medium depth) to Carswell (deep depth but with huge target potential).
They also have properties that have very high (up to 38% U308 showings).
Also, UNR has acquired the services of two very good geologists Alan Armitage and David Faure to join with Mark Kolebaba to find uranium.
This company is all set and primed to have a great year of U308 discoveries and big increases in share price for the fortunate shareholders.
Ngas, do yourself a favor. Call the company and request a Uranium North investor kit from Heather Kays the IR person. Its free, attractive and easy to understand.
Then read it and ask me some more questions here. :)
I've made money in Diamonds North another Mark Kolebaba company. I expect to make even more in Uranium North.
Very interesting - not going to pretend I know anything about Uranium names, or Uranium plays at all, but from a more general perspective I do like the idea/prospects of Nuclear Energy.
Scary chart, whats been the general scoop on this company since 2006?
Uranium North Intersects Uranium Mineralization with Grades Up to 1.59% (31.8 lbs/ton) U308 on the KAM Property
11:08 AM ET, December 4, 2008
VANCOUVER, BRITISH COLUMBIA, Dec 4, 2008 (Marketwire via COMTEX) --
Uranium North Resources Corp. (UNR) announces the discovery of high-grade uranium mineralization on the KAM prospect located on the South Baker property in Nunavut.
Five drill holes at KAM intersected uranium mineralization along a 200 metre zone with several significant mineralized intersections including grades up to 1.59% U3O8. These drill results significantly expand the size potential of the KAM prospect.
Mineralization at KAM is near surface and is open to the north, south, and at depth. Surface exploration indicates additional uraniferous zones may exist to the west.
Drill hole K-05-08 intersected two zones: a 10 metre zone grading 0.3% (6.0 lbs/ton) U3O8 including 4 metres of 0.56% (11.2 lbs/ton) U3O8, and a 5 metre zone of 0.42% (8.4 lbs/ton) U3O8 including 1 metre of 1.16% (23.2 lbs/ton) U3O8 (see table below).
Drill hole K-03-08 collared approximately 100 metres from
K-05-08, also intersected two zones: a 7 metre zone grading 0.23% (4.6 lbs/ton) U3O8, and a 9 metre zone grading 0.36% (7.2 lbs/ton) U3O8. The latter includes a 4 metre zone of 0.7% (14 lbs/ton) U3O8 which contains a 1 metre interval of 1.59% (31.8 lbs/ton) U3O8 (see table below).
-----------------------------------------------------------
        From         To    Interval
Drill hole  (m)  (m)   (m)   % U3O8   lb/ton
-----------------------------------------------------------
K-05-08Â Â Â 50.2Â Â Â 60.2Â Â Â 10Â Â Â Â 0.3Â Â Â Â 6
Including   53.2   57.2   4   0.56   11.2
K-05-08Â Â Â 103.7Â Â Â 108.7Â Â Â 5Â Â Â 0.42Â Â Â 8.4
Including   105.7   106.7   1   1.16   23.2
-----------------------------------------------------------
K-03-08Â Â Â 150.1Â Â Â 157Â Â Â 6.9Â Â Â 0.23Â Â Â 4.6
K-03-08Â Â Â 175.67Â Â Â 184.7Â Â Â 9.03Â Â Â 0.36Â Â Â 7.2
Including   177.7   181.7   4   0.7   14
Including   177.7   178.7   1   1.59   31.8
-----------------------------------------------------------
K-02-08Â Â Â 16.13Â Â Â 19.13Â Â Â 3Â Â Â 0.03Â Â Â 0.6
K-02-08Â Â Â 27.13Â Â Â 35.13Â Â Â 8Â Â Â 0.12Â Â Â 2.4
Including   31.13   35.13   4   0.21   4.2
K-02-08Â Â Â 40.13Â Â Â 42.13Â Â Â 2Â Â Â 0.04Â Â Â 0.8
K-02-08Â Â Â 187.45Â Â Â 188.45Â Â Â 1Â Â Â 0.14Â Â Â 2.8
-----------------------------------------------------------
K-04-08Â Â Â 147Â Â Â 149.48Â Â Â 2.48Â Â Â 0.03Â Â Â 0.6
K-04-08Â Â Â 173.7Â Â Â 177.34Â Â Â 3.64Â Â Â 0.06Â Â Â 1.2
K-04-08Â Â Â 179.81Â Â Â 183.2Â Â Â 3.39Â Â Â 0.04Â Â Â 0.8
-----------------------------------------------------------
K-06-08Â Â Â 168.14Â Â Â 169.14Â Â Â 1Â Â Â 0.1Â Â Â 2
-----------------------------------------------------------
Â
KAM mineralization occurs in fractured and fault brecciated basement rocks and is commonly associated with chlorite and hematite alteration.
"These are the most significant drill intercepts reported in the area and are comparable to grades reported from Kiggavik and Andrew Lake deposits. With a strong cash position, Uranium North will pursue KAM as a high priority stand alone project," says Mark Kolebaba, President of Uranium North.
K-06-08 drilled 102.7 metres of volcanic rocks belonging to the Christopher Island Formation before penetrating basement rocks. A 1 metre zone of 0.10% (2 lbs/ton) U3O8 was intersected. It is likely that this hole overshot the main target horizon.
An additional drill hole was collared 2 kilometres to the west to test the possible westerly extent of the mineralized zone. The hole was lost before intersecting bedrock.
This program met the objective of locating a possible bedrock source for high grade boulders discovered on the surface in 2007 and demonstrated to the Company that the KAM prospect is potentially a sizable uranium target.
Plans for KAM include modeling of historic and 2008 drill holes to better understand the orientation of the mineralization. Drilling is planned for 2009 on the KAM target and will be designed to test along strike and at depth to further delineate the mineralized zone.
KAM is one of 12 known prospects identified on the South Baker Property and is approximately 35 kilometres from the Hawk prospect which recently yielded encouraging uranium results (see news release dated November 26, 2008).
The Company's exploration concept for South Baker is based on developing tonnage from several closely spaced deposits as at Kiggavik. The Kiggavik deposits have been reported by Areva to comprise 148 million pounds from six different deposits.
A total of 1060 metres of drilling were completed in six holes by Forage Boreal Drilling of Val-d'Or, Quebec.
All holes were inclined 45 degrees. All intersections reported are down-hole, core-length intervals using a 0.01% U3O8 cut-off grade. The true thickness of mineralized zones is yet to be determined.
Quality control/quality assurance
A total of 164 core samples of 0.5 - 1.0 metres in length were processed at the Saskatchewan Research Council (SRC) Geoanalytical Laboratories, which is an ISO/IEC 17025 accredited laboratory for mineral analysis testing located in Saskatoon, Saskatchewan.
Samples were analysed using SRC's Uranium Exploration ICP Package, which includes uranium by total digestion ICP-OES analyses, uranium by partial digestion ICP-OES analyses and uranium by fluorimetry analyses. All samples having more than 1000 ppm uranium were assayed using a uranium assay dissolution procedure. Numbers reported are for uranium by fluorimetry (less than 1000 ppm) or uranium assay (greater than 1000 ppm).
Laboratory method quality control included the insertion of certified reference materials applicable for the ranges of mineralization encountered. Repeat analyses were performed on every 20th sample.
Allan Armitage, Ph.D., P.Geol., Vice President - Exploration of Uranium North, is a Qualified Person as defined by National Instrument 43-101, and is responsible for quality control of exploration undertaken by the Company and has reviewed and approved the technical information in this release.
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.
SOURCE: Uranium North Resources Corp.
Uranium North Resources Corp.
Heather Kays
Corporate Communication
(604) 484-7120
(604) 484-7143 (FAX)
Email: info@uraniumnorth.com
Website: www.uraniumnorth.com
Uranium North Drills Three Uranium Rich Zones at Hawk and Extends Mineralization to Depth
11:50 AM ET, November 26, 2008
VANCOUVER, BRITISH COLUMBIA, Nov 26, 2008 (Marketwire via COMTEX) --
Uranium North Resources Corp. (UNR) announces results from the summer drill program on the Hawk prospect of the South Baker project in Nunavut.
Drilling intersected three uranium mineralized zones in two drill holes, confirming the presence of significant shallow U3O8 mineralization and providing key information on the orientation of a sizeable mineralized zone.
Prior to Uranium North drilling at Hawk, uranium mineralization had not been intersected below 60 metres. These results extend mineralization to a depth of 144 metres and significantly expand the overall dimensions of the mineralized zone.
Vertical drill hole HL-01-08 intersected an upper five metre zone grading 0.05% U3O8, a middle zone of 16.8 metres grading 0.07% U3O8 and a lower 14.3 metre zone grading 0.16% U3O8, including six metres of 0.31% U3O8 (see table below).
A second vertical drill hole,
HL-02-08, which was collared 30 metres to the south intersected three similar zones: an upper four metre zone grading 0.05% U3O8, a middle three metre zone grading 0.08% U3O8, and a lower 12.5 metre zone grading 0.15% U3O8. The lower zone includes a two metre zone grading 0.31% U3O8 and an additional two metres with 0.29% U3O8 (see Table Below).
-----------------------------------------------------------
Drill hole  From (m)  To (m)  Interval (m)  % U3O8
-----------------------------------------------------------
HL-01-08Â Â Â Â 2.7Â Â Â Â 7.7Â Â Â Â 5.0Â Â Â Â Â 0.05
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HL-01-08Â Â Â 10.5Â Â Â Â 27.3Â Â Â Â 16.8Â Â Â Â 0.07
-----------------------------------------------------------
Including    11.7    16.7    5.0    0.14
-----------------------------------------------------------
HL-01-08Â Â Â 40.7Â Â Â Â 55.0Â Â Â Â 14.3Â Â Â Â 0.16
-----------------------------------------------------------
Including    42.7    48.7    6.0    0.31
-----------------------------------------------------------
HL-02-08Â Â Â 89.5Â Â Â Â 93.5Â Â Â Â 4.0Â Â Â Â 0.05
-----------------------------------------------------------
HL-02-08Â Â Â 104.5Â Â Â Â 107.5Â Â Â Â 3.0Â Â Â Â 0.08
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HL-02-08Â Â Â 131.5Â Â Â Â 144.0Â Â Â Â 12.5Â Â Â Â 0.15
-----------------------------------------------------------
Including    133.5    135.5    2.0    0.29
-----------------------------------------------------------
Including    141.0    143.0    2.0    0.31
-----------------------------------------------------------
Â
All intersections reported are down-hole, core-length intervals. The true thickness of mineralized zones is yet to be determined.
A third drill hole, HL-03-08, drilled 90 metres to the east at -65 degrees to the west did not intersect significant U3O8 mineralization. Drilling suggests that the mineralized zone is steeply dipping.
"This program was designed to test very precise parameters. Determining that uranium mineralization extends to depth and is open to the south, confirms Hawk as a target with potential for significant pounds," says Mark Kolebaba, President of Uranium North.
Hawk mineralization occurs in fractured and brecciated volcanic rocks of the Christopher Island Formation and is commonly associated with chlorite, hematite and carbonate alteration.
Drilling intersected rocks of this formation to 200 metres depth without intersecting basement rocks.
Based on regional work, basement rocks represent another target for uranium on the property.
Plans for Hawk include modeling of historic and 2008 drill holes to better understand the orientation of the mineralization.
Drilling is planned for 2009 on the Hawk target and will be designed to test along strike and down dip extension of the known mineralization.
Hawk is one of 12 known prospects identified on the South Baker Property.
The Company's exploration concept for South Baker is based on developing tonnage from several closely spaced deposits as at Kiggavik. The Kiggavik deposits have been reported by Areva to comprise 148 million pounds from six different deposits.
Allan Armitage, Ph.D., P.Geol., Vice President - Exploration of Uranium North, is a Qualified Person as defined by National Instrument 43-101, and is responsible for quality control of exploration undertaken by the Company and has reviewed and approved the technical information in this release.
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.
SOURCE: Uranium North Resources Corp.
Uranium North Resources Corp.
Heather Kays
Corporate Communication
(604) 484-7120
(604) 484-7143 (FAX)
Email: info@uraniumnorth.com
Website: www.uraniumnorth.com
UNR PRICE HISTORY FOR LAST 30 DAYS.
http://tsedb.globeinvestor.com/invest/investSQL/tsx.price_history?pi_symbol=UNR-X
UNR's share price up more than 45% today. The American stock symbol for this company is URNMF. I will post a direct link to UNR's Toronto Venture Exchange site so you can see the last 30 days of share prices.
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Uranium North Resources Corp.
510-510 Burrard Street
Vancouver, BC
Canada V6C 3AB
Ph: 604-484-2212
Bottom Line: Company has cut good uranium intercepts in drilling shallow and somewhat deeper targets on its 100% owned Hawk property.
PLUS...UNR has drilled GREAT results (at least 3 to 5 times richer) on its 100% KAM propery!
It is awaiting assay results for 15 holes drilled on its Amer Lake property where THERE ALREADY IS A HISTORIC RESOURCE OF 6.7 million pounds of U308.
Management is everything...
The company President and CEO, Mark Kollebaba, is an expert geologist who helped discover the Ekati diamond mine...one of the richest diamond mines in the world.
UNR, has working in-house solely for its benefit (and its shareholders) two very good geologists...David Faure who headed the team that found the Cigar Lake uranium deposit. Cigar Lake is one of the biggest and richest uranium deposit in the world.
Mr. Faure is credited with advising TOTAL Mining and Nuclear that the Georgetown Inlet in Queensland Australia had high uranium potential which subsequently led to the discovery of the Ben Lomond uranium deposit.
Alan Armitage is a highly respected well-known geologist that performs 3 important tasks for UNR...interpets geophysical data, computer models for 43-101 resource estimates and directs drill team in the field at various UNR properties.
UNR has $1.8 million in the treasury and of a certainty will be drilling their KAM property in 2009 where they hit U308 grades of .3% through .7% up to 1.59%.
They will also be announcing 1 or more JV's (joint ventures) of some of their 100% owned properties.
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