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Uranium North Identifies 24.62 g/t Gold on Its Tasiq Property
8:31 AM ET, January 12, 2010
VANCOUVER, BRITISH COLUMBIA, Jan 12, 2010 (MARKETWIRE via COMTEX) -- Uranium North Resources Corp. (UNR) announces the acquisition of the Mallery Lake gold prospect on the eastern side of its 100% owned Tasiq property in Nunavut. The property hosts two known gold bearing structures one of which, the Mallery Stockwork, yields gold values as high as 24.62 g/t and has never been drilled. In addition, proprietary till data suggests the gold mineralization in the area is more widespread than historical data exhibits.
The Mallery Stockwork structure is reported to be 125 metres to more than 250 metres wide and is exposed for approximately 450 metres along strike. The Stockwork consists of numerous quartz veins as large as 20 metres wide within Proterozoic aged volcanic rocks of rhyolite composition. Historically, the only other known gold bearing structure is the T-Rex zone which is located 4.5 kilometres north of the Mallery Stockwork. The T-Rex zone is reported to contain numerous quartz veins up to 50 metres wide extending for 1 kilometre. The highest gold assay reported to date at T-Rex is 0.44 g/t.
An abundance of angular gold grains recovered from till samples collected by the Company up ice of the Mallery and T-Rex zones indicate potential for numerous other undiscovered gold bearing structures on the property.
"What is exciting about this property is the known gold occurrences have never been drilled and we believe with limited expenditure, the Mallery Stockwork prospect will be drill ready in 2010. Further, our gold grain in till data expands the potential extent of the gold mineralization and indicates several
other possible
undiscovered gold sources in the area. We will also continue to advance our uranium prospects as we pursue these new high potential gold opportunities," says Mark Kolebaba, President and CEO.
The Mallery Lake
Gold prospect was discovered by Phelps Dodge in 1996 with an initial discovery sample of 1 g/t over 10 metres. Subsequently, Phelps Dodge merged with Freeport McMoran and their original mineral claims were allowed to lapse.
Other significant historical gold assay values include grab samples ranging from approximately 2 to 5 g/t and several chip samples over 0.3 to 5 metre intervals ranging from approximately 2.2 to 14 g/t and as high as 24.62 g/t.
The tracking of gold grains recovered from till samples is a proven successful regional exploration tool for discovering areas with the potential to host gold deposits. Angular gold grain surface morphology further assists in the potential discovery of nearby sources. The discoveries of gold deposits at Waddy Lake, Rainy River and around Casa Berardi are credited to this method.
The identification of gold at Tasiq is the first of several new gold opportunities the company is reviewing. This is part of a larger corporate strategy to create value by extracting gold and base metal opportunities from the Company's large proprietary geochemical and geophysical databases. The Company plans to further expand its interests in gold and other metal commodities through these databases. The Mallery claims were staked, recorded and are currently pending final approval by the Nunavut Mining Recorder. Additional metal opportunities are also anticipated from this and other areas held and/or explored by Uranium North.
Bruce Kienlen, P.Geol, is the Qualified Person as defined by National Instrument 43-101, responsible for collection of the till samples on the project and has reviewed and approved the technical information relating to the till samples in this release. Graham Gill, P. Geo has reviewed historical reports for the property.
The historical work has not been verified by the Company, however, it appears to have been completed under standard best practices consistent with the time and appears to be of reasonable quality.
On behalf of Uranium North Resources
Mark Kolebaba, President and CEO
Uranium North moving up price wise and trading volume. Closed at .095 today. It wasn't too long ago, that UNR was trading at .07.
Bear in mind reader that there has been no OFFICIAL news releases.
Obviously, something is up and news will probably be OFFICIALLY out in January 2010.
Nice post Sumi...especially about the good-paying jobs in the nuclear industry.
ET Duke’s Rogers: Why Nuclear Power Will Probably Trump Coal
November 20, 2009, 9:34 AM
http://blogs.wsj.com/environmentalcapital/2009/11/20/dukes-rogers-why-nuclear-power-will-probably-trump-coal/
Vancouver, November 18, 2009 - Uranium North Resources Corp (UNR - TSX-V) announces that Mark Kolebaba, President and CEO, will be featured in a broadcast called "CEO Clips" from November 18-29 on the Biography Channel.
CEO Clips, a series of two minute corporate profiles on Canadian companies, will feature Uranium North on the Biography Channel over this period throughout the day and evenings. In addition, the video will be posted on Yahoo Finance Canada, Stockhouse.ca and MSN Finance. The feature can also be viewed on the Uranium North website at www.uraniumnorth.com and the CEO Clips website at www.ceoclips.com.
About Uranium North
Uranium North Resources is one of the largest uranium explorers in Nunavut, Canada's newest emerging mineral district. The flagship Amer Lake property is host to a 19.3 million lb NI 43-101 compliant uranium resource. Also in the vicinity is the 147 million pound Kiggavik uranium deposit owned by nuclear giant Areva, ranked first in the global nuclear power industry. Areva is reportedly working toward a planned production date for the Kiggavik deposit of 2015.
About The Biography Channel:
"Over Half of Canadians in digital households watch The Biography Channel," Roper Report 2005. The Biography Channel finished #1 in awareness, viewer ship and importance to the enjoyment of cable in the latest Beta Research Subscriber study of digital cable subscribers and can currently be viewed in 800 000 Canadian homes.
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
Oct. 22 (Bloomberg) -- Uranium will rise above $50 a pound in coming weeks because of reduced production at BHP Billiton Ltd.'s Olympic Dam mine in Australia, Macquarie Bank Ltd. said.
Prices have added 9.8 percent over the past two weeks on concern about reduced supply following an accident at Olympic Dam, the world's fourth-largest producing uranium mine. Uranium oxide concentrate for immediate delivery traded at $47.75 a pound on Oct. 19, Roswell, Georgia-based UxC said in a weekly report.
"Uranium will go up into the low $50s over the next month," Max Layton, an analyst at Macquarie in London, said by phone today.
Full production at Olympic Dam will only resume by the end of March after repairs to a damaged shaft, BHP, the world's largest mining company, said on Oct. 20. The company declared force majeure that day on some supply contracts at the world's largest uranium deposit, permitting it to miss deliveries because of an event beyond its control.
Olympic Dam, which produces copper and gold as well as uranium, accounted for 8 percent of global output of the nuclear fuel last year, according to the World Nuclear Association. The mine produced 3,384 metric tons of uranium last year, and the slowdown may cut output by about 1,200 tons through to March, Layton said.
"If the delay goes beyond the end of March and they have depleted all their inventories, they would probably need to be buying in the spot market," he said.
A mechanical failure forced the shutdown of the main haulage shaft at Olympic Dam on Oct. 6. Ore hoisting will be at about 25 percent of capacity until repairs have been completed, BHP said on Oct. 20.
I'm waiting to see if they can get a JV partner on favorable terms.
Yes I'm a shareholder...was concerned with what at first glance looked like a huge sell and or dilution on aug 6th which was the largest volume day since the ipo and while thats still possible after studing the chart more now think that someone took up a large position..could be wrong...hadn't looked at the chart for awhile and then discovered that it looks like its about to go again...imo
if that large volume was a sell/dilution the stock is likely to drop down shortly..
if an entity took up a position it should pop up...other chart indicators are primed for this
Subtlerise, thanks for your post and interst in UNR.V.
Are you currently a shareholder?
Just curious...you obviously believe in charts...so maybe you are. :)
UNR .V weekly chart primed once again..
also the daily is aligned similarly with tight bollinger bands
Uranium North Outlines 19.3 Million Pound U3O8 Inferred Resource at Amer Lake; Deposit Remains Open Along Strike and Down Dip
Vancouver, August 06, 2009 - Uranium North Resources Corp (UNR - TSX-V) announces the completion of a National Instrument 43-101 ("NI 43-101") compliant inferred mineral resource calculation for the Main Zone deposit on its 100% owned Amer Lake property in Nunavut. This new resource calculation is significantly higher than the historic estimate and represents what the Company believes is a portion of a much larger deposit on the property.
Based on cut-off grades ranging from 0.01 to 0.06% U3O8, the interim resource calculation outlines 19.3 to 7.3 million pounds of uranium grading at 0.04 to 0.11% U3O8 respectively (Table 1).
Using the current industry standard cut-off grade of 0.01% U3O8, a resource of 19.3 million pounds at an average grade of 0.04% U3O8 has been defined.
(Reader please note that this is just an excerpt from a much larger news release. I did not include all of it because I use a web TV Plus to access the internet. The Plus is great for copying text but terrible for copying tables and columnar assays.
If you would like to see the complete report, please go to their website http://www.uraniumnorth.com
The resource calculation outlines 12.9 million pounds U3O8 grading 0.07% U3O8 using a 0.04% cut-off or 9.7 million pounds grading 0.09% U3O8 using a 0.05% U3O8 cut-off. This is a significant increase from the historic estimate of 6.7 million pounds grading 0.07% U3O8 at a cut off of 0.05% U3O8.
Uranium North Completes FlowThru-Financing
VANCOUVER, June 23, 2009 -- Uranium North Resources Corp. (TSX-V: UNR) reports that the non-brokered, flow-through private placement announced on May 28, 2009 has closed for gross proceeds of $271,502. A total of 2,262,517 flow-through common shares at a purchase price of $0.12 per share have been issued.
Finders' warrants representing 7% of the number of flow-through shares sold by the finders were paid as follows: Dundee Securities Corporation 14,000 warrants; Haywood Securities Inc. 7,000 warrants; Union Securities Ltd. 11,666 warrants. The Finders' warrants are exercisable at $0.20 per share until June 22, 2010.
All the securities issued hereunder are subject to a four month hold period and may not be traded until October 23, 2009.
On behalf of Uranium North Resources,
Mark Kolebaba
President and CEO
For further information please contact:
Uranium North Resource Corp
Corporate Communication- Heather Kays
Tel: 604-484-7120
Fax: 604-484-7143
Website: www.uraniumnorth.com
Email: info@uraniumnorth.com
Uranium North Identifies Two High Priority Targets On Its Yathkyed Property.
Vancouver, June 10, 2009 - Uranium North Resources Corp (UNR -- TSX-V) announces the identification of two high priority uranium targets on its 100% owned Yathkyed Property in Nunavut.
An airborne radiometric and magnetic geophysical survey over the property has detected 56 uranium anomalies. The two most significant anomalies from the survey are at least three times more intense than the other anomalies in the region.
The northern most anomaly is located within 500 metres of three historic uranium prospects discovered in the 1970s. Trenching at these prospects returned 1.9% U3O8 and 0.46% Cu over 1.2 metres and, 0.28% U3O8 over 0.6 metres and 0.85% Cu respectively. In addition, a grab sample assayed 0.38% U3O8 and 0.16% Cu.
This intense airborne anomaly does not appear to be coincident with these known high grade occurrences and may represent a more intense part of a larger overall zone of uranium mineralization that spans several hundred metres.
The northern anomaly appears to be associated with north-south and east-west trending structures and is accompanied by multiple less intense uranium anomalies.
"This intense airborne anomaly is situated near known uranium mineralization reported as high as 1.9% U3O8 and appears to have potential for lateral extent. This represents a significant new target for the Company and demands immediate follow-up," says Mark Kolebaba, President of Uranium North.
A second anomaly with similar intensity located 6 kilometres to the south also falls along north--south and east--west trending structures and is accompanied by multiple weaker anomalies. A historical grab sample collected near the airborne anomaly yielded 0.16% U3O8.
The airborne survey was successful in identifying several areas with high uranium potential. The two most significant anomalies will be the target of a prospecting program. Additional anomalies on the property may be prospected depending on the availability of time.
Uranium North Resources Corporation is one of the largest Uranium Explorers in Nunavut, Canada's newest emerging mineral district. Nunavut supports responsible exploration and development of uranium projects.
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
Forward-Looking Information
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release
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.
Uranium North Completes Phase 1 Drilling at Amer Lake, Assays Pending
Vancouver, May 27, 2009 -- Uranium North Resources Corp (UNR -- TSX-V) provides an update on the Phase 1 drill program on its 100% owned Amer Lake uranium project in Nunavut. The in-fill drilling program has been completed. A total of 1216 metres in 10 reverse circulation (RC) drill holes were completed to test continuity of the uranium mineralization within the Main Zone deposit.
Based on scintillometer (RS-120 Super Gamma Scintillometer) readings, anomalous radioactivity has been intersected in all of the drill holes, providing indications for continuity of mineralization between drill holes within the Main Zone.
A total of 586 RC samples will be assayed at the Saskatchewan Research Council (SRC) Geoanalytical Laboratories. Assay results are expected within 4 to 6 weeks.
The Company is currently preparing for the Phase 2 drill program, designed to test for continuation of uranium mineralization down dip and along strike of the deposit.
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.
GeoVector Management Inc. of Ottawa managed the field program this year.
Alan Sexton, MSc, P.Geol., the Project Manager and a Qualified Person under NI 43-101, supervised the technical aspects of the 2009 field program.
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
Thanks futrcash for your comments on UNR and uranium. :)
There is a good chance that next week UNR will a new release updating drilling activities at Amer Lake.
I do know that they have completed their infill drilling and are starting their step out drilling... all necessary to producing an increased 43-101 resource estimate for their Amer Lake property.
I Agree with you that 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.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
I'm thinking that now is a good time to revisit uranium plays.
futr
Current uranium price UP $5.00 to $51.00 per pound!
As of May 11th.
(Note prices are quoted on a weekly basis.)
Current Uranium price $46.00 UP $2.00 from previous week.
(Of course uranium is priced on a per pound basis.)
Since Russian nuclear weapons are no longer supplying as much uranium, the demand will grow...causing even greater increases in uranium price.
This is good news for UNR. Also UNR should have its assay results back faster than a lot of other uranium explorers since they are already well into their drilling on their 100% owned Amer Lake property.
UNR UP 1/2 cent today to close at .135 on a volume of 146,500 shares.
This was a 3.85% gain from the previous close.
Subtlerise, UNR stayed at .13 today although it was down earlier in the day...so your post was a good one and may very well still happen.
they left a gap between .115 and .120..likely bring it down at some point to fill this..good solid base above the 200 dma ..looking good longer term..I won't try to trade that gap cause volume too low for my tastes..may line up a buy order though..another order didn't fill before the run-up.
UNR UP .015 to close at .13 on a volume of 66,079 shares.
This is a share price increase of 13.04% from the previous close on Friday.
UNR UP 1/2 cent to close at .115 (a 4.55% increase) on a volume of 66,500 shares.
Yes!..broke thru the 200 moving day average too..
last 3 days eod block buys indicitive of institutional or company buys imo...hitting the top of the upper bollinger band on the weekly chart..once thru that..yummy!
Uranium price/lb UP $2.00 this week to $44.00/lb.
Note: Uranium prices are reported on a weekly basis.
UNR UP 10% to close at .11 on a volume of 127,500 shares.
Almost hit the 200 day moving average... tomorrow we shall see..the 50 day moving average is now firmly under the pps candles lending good support..it broke thru the upper bollinger band today so will show up on traders chart scans.
Still has room on the weekly chart before it hits the upper bollinger band...looking tasty imo
Now thats kewl EnergyGuy!..hope he is able to use that info for both the company and shareholders..as long as he doesn't dilute too much on the way up the stock should do very well and attract more attention.imo of course..keep up your good dd...very appreciated!
UNR UP 25% to close at .10 today on a volune of 73,268 shares.
Subtlerise, I was able to talk to Mark Kolebaba the Prez/CEO of UNR today.
I gave him the exact URL address for this board. I know he went to this board because while I was talking to him by phone, he was typing in the address I gave him and then he read your posts #'s 55 and 52.
He told me he is going to save our board in his computer and send it to the IR person for UNR (Heather).
He commented that you are using a Mac D.
He also read out loud to me the part in one of your charts where you wrote that when certain lines intersected, you thought there might be a pop up in the sp of the stock.
Well, it was very interesting for me and I wanted you to know since you are the chartmaster. :)
I trade on line..use my intraday charts mostly to determine where I may enter or sell...the rest is just experience..and I make some good mistakes..haha..."the road to success is paved with failures"..or something like that..:>)
Subtlerise...I'm so impressed with the quality of your charts and analysis, I'm going to let UNR.V know how great they are.
I will send them the URL link to this board and tell them which of your posts have these wonderful charts. :)
Subtlerise...you're a good shrewd buyer.
When you trade stock, do you do it online via your computer or do you call an order in to your broker?
If you trade online, how many levels deep can you see on the "buy" and "sell" sides of a stock on your monitor?
Had an order at .075 sitting for a week..wondered when they would bring the level down to gobble up my order..finally filled on wednesday.Looks like they needed to bring it down to .07 to accomplish this first.
UNR.V 2.5 year weekly chart showing longer trend aligning with the daily chart indicators...very bullish imo..or at least attractive to my eye..this is mainly what got me interested.
resistance levels on the way up noted
TRIX: A momentum indicator showing the percent rate-of-change of a triple exponentially smoothed moving average. Like other oscillators, TRIX oscillates around a zero line. Its triple exponential smoothing makes it an excellent filter of market noise and it functions well as a leading indicator of market trends.
UNR UP 14.29% today gaining a penny to close at .08 on a volume of 25,333.
Thanks indeed subtlerise for the UNR charts and your commentaries on them. Food for thought for me. Clearly stock charts are more complex than the x/y charts in my old algebra books.
UNR.V 2year daily chart
I tried to simplify ..in the end charting can be viewed from many perpectives and different opinions..this set-up works best for my style..not daytrading but more swing to longer term..this stock has lower volume so harder to buy and sell so more suited towards longer trends imo...hope this helps :>)
(I'll try to do the weekly tomorrow)
Bollinger Bands: An indicator that allows users to compare volatility and relative price levels over a period of time. It consists of three bands designed to encompass the majority of a security's price action. Prices will often meet resistance at the upper band and support at the lower band. See ChartSchool article on Bollinger Bands.
Moving Average (MA): An average of data for a certain number of time periods. It "moves" because for each calculation, we use the latest x number of time periods' data. By definition, a moving average lags the market
Accumulation Distribution Line: A momentum indicator that relates price changes with volume. It relates the closing price to the range of prices (H - L). The closer the close is to the high, the more volume is added to the cumulative total. See ChartSchool article on Accumulation Distribution Line.
Candlestick Chart: A form of Japanese charting that has become popular in the West. A narrow line (shadow) shows the day's price range. A wider body marks the area between the open and the close. If the close is above the open, the body is white (not filled); if the close is below the open, the body is black (filled). See ChartSchool article on Introduction to Candlesticks.
The following is UNR's official confirm of my post # 47.
Vancouver, April 20, 2009 - Uranium North Resources Corp (UNR - TSX-V) announces plans for a 2000 to 3000 metre drill program on the Company's 100% owned Amer Lake Property in Nunavut. The program is planned to commence around the end of April with an objective of defining a significant resource under the guidelines of NI 43-101.
The program is focused on evaluating: 1) the continuity of the mineralization within the Amer Lake deposit and 2) expansion possibilities to the south of the 6.7 to 12.3 million pound historic uranium resource* in an attempt to reach the 2009 deposit target of 11.5 to 17.6 million pounds** recently calculated by the Company (see news release dated January 23rd, 2009).
Construction of an ice airstrip for the mobilization of equipment and supplies is complete.
The Property is located 145 kilometres north of Baker Lake and 70 kilometres northwest of an all-season road which extends from Baker Lake to the Meadowbank gold deposit.
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.
*Not compliant with NI 43-101.This is not a resource estimate and should not be relied upon as insufficient exploration has been carried out to delineate a mineral resource.
**The potential quantity and grade is conceptual in nature and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the target being delineated as a mineral resource.
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
Forward-Looking Information
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release
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.
Copyright © 2009 URANIUM NORTH RESOURCES CORP,. (UNR) All rights reserved. For more information visit our website at http://www.uraniumnorthresources.com/ or send email to info@uraniumnorthresources.com .
Message sent on Mon Apr 20, 2009 at 7:59:52 AM Pacific Time
OK..will do an annotated chart later tonight after I return from a meeting(unless its real late)..good balance as I rely mostly on charting with you on DD..also I am focusing on uranium plays of late.
Welcome to the Uranium North board! Thank you for your kind remarks about the board. :)
I think when you compare the high and low of UNR for the last 12 months AND the timeliness (drillng imminent and news from subsequent assays released in July 2009) you have come on board at a good time.
Subtlerise, is there any way you could post the daily and weekly charts on UNR that made you want to be a shareholder and make some remarks about the more telling and important parts of them?
I must confess in perfect candor, that I don't know beans about charts...but I'm willing to learn. :)
Nibbled some today..hope to build a decent position.
best chart position of all the uranium plays I checked both on the daily and weekly settings...nice board here...:>)
I talked with UNR's V.P. of Exploration today.
Airstrip on ice already put in and supplies assembled for 2 to 3 week stay.
He plans to be on site at the Amer Lake uranium property April 25th with actual diamond core drilling starting April 27th. Drilling of 15 to 20 holes of about 2000 meters with hope of completing a 43-101 resource estimate after assays come back in July.
All this on a budget of $1.2 million
or less. Which is a bargain because if they waited until summer to do the drilling, they would have to use a heliocopter which would add another $500,000 to $750,000 to the total cost.
Re: News Releases - Wednesday, March 25, 2009
Title: Uranium North Completes a NI 43-101 Technical Report for the Amer Lake Property
Vancouver, March 25, 2009 -- Uranium North Resources Corp (UNR -- TSX-V) announces the Company intends to file on Sedar, a NI 43-101 Technical Report dated March 20th, 2009, for work completed by the Company in 2007 and 2008 on the Amer Lake property located in the Thelon Basin area of Nunavut, Canada. In addition, the report includes recently acquired historical drill data collected by Aquitaine in the 1970s.
"Uranium North's NI 43-101 Technical Report for Amer Lake provides strong technical merit for the property and demonstrates significant expansion potential for the deposit." says Mark Kolebaba, President and CEO of Uranium North Resources. "Our 2009 program will attempt to define a resource for a large portion of the deposit and demonstrate additional potential for expansion to the south east and possibly west."
Below is a brief summary of the key points within the technical report. For the full report please visit our website at www.uraniumnorth.com.
Summary
The Amer Lake property was explored by Aquitaine Company of Canada, Uranerz Exploration and Cominco Ltd. from 1969 to 1981.
The most significant work completed on the property during this period was by Aquitaine who drilled 37 holes into the project. The complete and original assay and drill data was not available to Uranium North until late 2008.
This data was used by Aquitaine to define a deposit of 7.4 million pounds at 0.10% U3O8 in 1970 and later used by Cominco in 1977 to define a 6.7 million pound deposit at 0.07% U308 and again in 1980, the data was used in a Masters of Science Thesis to define 7 million tonnes of mineralized rock grading 0.08% U3O8 for a total of 12.3 million pounds of U3O8.
All estimates employ different restrictions in their calculations with Cominco and Aquitaine referring to their calculations as "Summary Ore Reserves". These estimates are historical in nature and while indicative of the presence of the potential deposit size, do not comply with NI 43-101 standard reporting and should not be relied upon.
Drilling by Uranium North in 2008 extends the Amer Lake deposit further east and south than the limits defined by earlier explorers.
This new drill information used in conjunction with the recently acquired Aquitaine data has allowed the company to calculate under the guidelines of NI 43-101, a 2009 target size for the deposit ranging from 11.5 to 17.5 million pounds at grades of 0.06 to 0.084 % U3O8 respectively (News Release - January 23, 2009). The Amer Lake deposit is not compliant with NI 43-101 reporting standards for a mineral resource. The Company's exploration efforts are intended to delineate a NI 43-101 compliant resource on the property.
The Company's long term target for the property is considerably larger than the 2009 target estimate for two reasons.
1) The mineralized zones of the Main Zone deposit appear open to the south and east, and;
2) historical drilling on the Main Zone deposit is limited to a 1.5 x 0.5 kilometre area that flanks a much larger 7.5 x 5 kilometre airborne radiometric anomaly identified by Uranium North in 2007.
Plans for 2009 will focus on the Main Zone deposit. The proposed program will include infill RC drilling to reduce the current drill hole spacing and further test continuity of the mineralization within the historic deposit and towards the positive 2008 step-out holes. Further step-out drilling southwest, south and east of the deposit will also be conducted. The results of the proposed drilling is expected to provide the data required to prepare a National Instrument 43-101 compliant resource for the deposit, which the company believes may be greater than the historical 6.7, 7.4 or 12.3 million pounds U3O8 referenced by earlier explorers.
The property is located 145 kilometres north of Baker Lake, Nunavut and 70 kilometres northwest of an all-season road, which extends from Baker Lake to Agnico Eagle's Meadowbank gold deposit planned to be in production by 2011. Also in the vicinity is Areva's 147 million pound Kiggavik uranium deposit which Areva is working towards a planned production date of 2015.
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
UNR UP 6.25% to close at .085 on a volume of +70,000 shares.
The company released a technical report about their Amer Lake uranium property which attracted some attention today.
This report is a prelude to more resource definition drilling which should occur in late April-May.
After the results of that drillng come back from assays (say about July), they will be released to the general public, then a 43-101 analysis will begin and that should be released by September. (If the 43-101 confirms that they have 17 or more million pounds of U308, the price should break out moving decisively above .125 going into the high .20s or even .30s.
All in all, lots of opportunity for the stock to gain in price this year.
It had a mini run up from .035 to .125 earlier this year.
I bought my currently held 19,000 shares at .062 Canadian...so I am in good shape as the current trading price is above my buy.
UNR UP 15.38% to close at .075 Canadian. A gain of a penny from last Fridays close.
If you've read my prior posts, you know that I felt the trend was down on the price. What's changed?
Two things. From a pure fundamental view, UNR has leaped ahead of its sister company DDN (Diamonds North) as far as providing value to their shareholders. DDN suffered truly disastrous and embarrasing results from its mini bulk sample which they basically found nothing at all as far as larger diamonds were concerned.
But UNR is poised to confirm this year that they have a 43-101 compliant uranium resource on their Amer Lake property.
While nothing is certain until confirmed, UNR is clearly in a better position than DDN. Furthermore when you factor in that the price of UNR is less than DDN it gets even more interesting.
The second thing is that Mark Kolebaba is putting his get-the-word-out promotion money on UNR. He recently paid for spots on the Biography (Business) show in which executives talk about themselves, their families and tie it all in with their most attractive projects that they have their companies involved in.
Fascinating how events can cause the wheels of resource companies to turn isn't it?
URANIUM PRICE for the week is $43.75 per pound. That is $1.25 lower than last week's price.
Commodity prices have a definite effect upon the share prices of exploration companies like UNR.
That may account, in part, for the downward trend in UNR's share price.
Good Deal! UNR share price down another penny to .08 Canadian. :)
The way things are going, it may trade at LESS than .05 in a month or two!
Notice that the "ASK" is still clinging stubbornly at .09 range.
That's okay...let them ask anything they like...its WHAT A STOCK TRADES AT that counts...it is the current reality of what the market values it. :)))
UNR s-l-o-w-l-y drifting down price wise. It fell half a penny today on very low volume.
That's fine by me. It's my understanding that UNR will not be drilling until April/May 2009 time frame. So if you factor in 1-2 months for assays, it should be June/July 2009 before more substative news comes out.
Plenty of time for the company's shares to drift down to the .05/.06 range (I hope).
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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.
CHART
COMPANY WEB PAGE
http://www.uraniumnorthresources.com/s/Home.asp
URANIUM NORTH RESOURCES INC.FILINGS & PUBLIC DOCUMENTS with SEDAR
http://www.sedar.com/DisplayProfile.do?lang=EN&issuerType=03&issuerNo=00024091
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