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Uranium North and Diamonds North Commence Exploration Program on Empire Creek
Vancouver, BC, July 26, 2012 – Diamonds North Resources Ltd. (TSX-V: DDN) Uranium North Resources Corp. (TSX-V: UNR) (“the “Companies”) announces the surface exploration program is underway on the Empire Creek gold project in Ferry County, Washington State. In addition, a land use permit for specific drill targets has been approved by the US Department of Interior, Bureau of Land Management (BLM).
“Prior to starting our surface exploration program at Empire Creek, the companies proactively applied for a land use permit to drill preliminary targets. Approval for this drilling within only a few months of the original application gives us a great deal of confidence that Washington State is open to responsible mineral exploration,” says Mark Kolebaba, President and CEO of Uranium North and Diamonds North Resources.
The initial exploration program on Empire Creek includes geological mapping, geophysical surveys and geochemical sampling. The 2012 data will be used to reassess the historic data and to better define targets for possible drilling.
Historic reports suggest that higher grade gold values are associated with areas containing increased magnetite, silica, carbonate and sulfide concentrations. These areas, and any newly found zones with similar attributes will be focused upon during the sampling and geological phases of the program. Results from the preliminary program will be important in designing future geophysical and possible drill programs. Additionally, several splay and parallel fault zones have been identified from topographic and landsat data from the property which are similar to epithermal gold related structures in the area.
Empire Creek is located 10 kilometres south of the K2 mine and 20 kilometres from the Kinross Kettle River Mill. Both Empire Creek and the K2 gold mine are hosted within the Republic Graben structure. The Republic District has reportedly produced well over 2.8 million ounces of gold and 15 million ounces of silver through to 1994.
Highlights from previous trenching programs at Empire Creek include results as high as 39.8 g/t gold over three metres and a drill intercept assaying as high as 12.1 g/t gold with 150 g/t silver over 18.3 metres. (See news release dated June 13, 2012) These occurrences are related to replacement style mineralization. Epithermal style mineralization similar to the K2 gold mine is also a target.
The permit has been received by the companies’ subsidiary Minerals North for final signature. The Empire Creek property has a 0.25% royalty payable to a consulting geologist. The royalty may be purchased at any time for the value of 300 ounces of gold.
Diamonds North Resources Ltd. and Uranium North Resources Corp. have formed and jointly own Minerals North LLC, a Nevada registered company with the objective to explore mineral potential in Washington State. This partnership demonstrates the Companies’ commitment to increasing shareholder value while maintaining low exploration costs. The Companies are actively seeking joint venture partners for our northern Canadian projects as they represent significant opportunity.
Graham Gill P.Geo and Bruce Kienlen P.Geol will be the Qualified Persons as defined by National Instrument 43-101 reviewing the data collected and overseeing the project. All data is from historical private reports and 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 the Board of Directors.
Mark Kolebaba President & CEO
For “Our Perspective” on this release please visit our websites:
www.diamondsnorth.com www.uraniumnorth.com
Uranium North Discovers Significant Graphite on Amer Property and Stakes New Ground
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 16, 2012) - Uranium North Resource Corp. ("Uranium North" or the "Company") (TSX VENTURE:UNR) announces that it has identified significant amounts of graphite on its 100% owned Amer Lake Property in Nunavut. Multiple graphite bearing beds ranging from 15 to 25 metres thick have yielded up to 4.13% graphite.
Graphitic beds have been intersected by two reverse circulation drill holes 3.1 kilometres apart as well as a core hole drilled 15 kilometres to the east. The same graphitic units have been identified in three surface outcrop exposures spanning an area of 22 x 10 kilometres.
The graphitic rocks are flat lying and occur in a basin scale stratigraphic unit that is a minimum of 60 metres thick and is expected to extend over a 26 x 8 kilometre area based on geological mapping.
"We are quite excited by the fact that the graphite at Amer occurs in thick extensive beds, not small thin veins. The thickness, grade and lateral extent of these graphite beds clearly represents a large scale deposit target for the company and depending on the nature of the graphite; this is a very significant discovery. With the future outlook of graphite and uranium, the Amer Lake property is highly valuable," says Mark Kolebaba, President and CEO of Uranium North Resources.
Six test samples were randomly selected from two reverse circulation drill holes 3.1 kilometres apart and submitted for analysis to determine the graphitic carbon (Cg) content. The results from the analysis are shown in the table below.
Sample (Cg) %
54268 4.13
54271 3.2
54272 3.84
89474 0.6
89477 3.22
89482 3.77
Analysis method is Infrared
Samples have been submitted for mineral liberation analysis (MLA) to determine the nature and particle size of the graphite.
Graphite beds that outcrop at surface along the paleo-basin margins should be mapped in detail and sampled systematically. A 2000 to 3000 metre drill program with drill hole spacing at 500 to 1000 metres is required to test the grade, thickness and lateral extent of the graphite units across the basin.
Graphite at Amer Lake was recognized during the company's uranium exploration program. The presence of graphite was investigated as a reducing environment favorable for uranium precipitation. This new graphite discovery increases the attractiveness of the Amer property where we have an existing uranium resource with potential to expand. Since the discovery of graphite on Amer, the company has staked additional claims over areas with known outcropping graphitic rocks.
The project is 70 kilometres from an all season road to Baker Lake and sea access.
Bruce Kienlen, P.Geol, and Graham Gill, P.Geo, are Qualified Persons as defined by National Instrument 43-101 reviewing the data in this news release.
On behalf of Uranium North Resources
Mark Kolebaba, President and CEO
What is going on in here? Looks interesting, thought I would check this board out and do some DD and see if there is potential here.
Uranium North Intersects Gold at the Mallery Lake Project
http://www.uraniumnorth.com/s/News.asp?ReportID=155059
Pinetree Capital Ltd. (TSX: PNP), announces that on January 16, 2012, it acquired ownership of 750,000 common shares (“Common Shares”) of Uranium North Resources Corp. (“Uranium North”) through the facilities of the TSX Venture Exchange representing approximately 0.9% of the total issued and outstanding common shares of Uranium North as of January 16, 2012. As a result of this transaction, Pinetree held, as at January 16, 2012, an aggregate of 8,500,000 common shares of Uranium North, including the Common Shares, and rights to acquire an additional 750,000 common shares of Uranium North upon exercise of certain convertible securities (the “Convertible Securities”). In the event that the Convertible Securities are fully exercised, the holdings of Pinetree represents a total of 9,250,000 common shares of Uranium North, or approximately 10.7% of all issued and outstanding common shares as at January 16, 2012, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.
This transaction was made for investment purposes and Pinetree could increase or decrease its investment in Uranium North depending on market conditions or any other relevant factor.
Uranium North Discovers New High Grade Gold and Silver Zones at Nowyak
10:01a ET January 12, 2012 (Market Wire)
Uranium North Resource Corp. ("Uranium North" or the "Company") (TSX VENTURE: UNR) announces that the 2011 exploration program on the Nowyak property in Nunavut has focused the company into a zone of high grade gold and silver mineralization with grab samples assaying up to 72.1 g/t Au, 1040 g/t Ag and 5.8% copper.
An induced polarization (IP) geophysical survey has outlined numerous contiguous anomalies within a 1.8 kilometre by 1.0 kilometre area along a shear zone. Follow-up prospecting of this area resulted in the discovery of numerous new mineralized zones between the historic Gareth and Century showings (see map - http://www.uraniumnorth.com/s/Nowyak.asp). Gold, silver and copper mineralization in this area is related to a nearby granodiorite intrusion. The zone remains open to the north, south and west.
Another high priority IP anomaly 750 metres to the south along the shear zone was also recognized. This IP anomaly extends at least 550 metres to the south in an overburden covered valley and is open to the north and south. Data from a ground magnetic survey suggests the presence of a similar granodiorite intrusion as observed at the Garath - Century showing.
"This new zone, defined by strong IP anomalies and associated gold and silver mineralization, is drill ready. Based on the high grade assays and extent of the zone, we have the potential to discover a significant gold deposit," says Mark Kolebaba, President and CEO of Uranium North Resources.
A total of 88 grab samples collected from the area are directly associated with the IP anomalies. Twenty four of the samples have returned high metal content with greater than 1 g/t Au. The table below highlights the most significant 2011 samples.
Nowyak Sample Highlights
------------------------------------------------ ----------------------
Sample Au g/t Ag g/t Sample Au g/t Ag g/t Sample Au g/t Ag g/t
---------------------- ---------------------- ----------------------
1 72.1 89.0 9 14.0 256 17 4.0 15.0
---------------------- ---------------------- ----------------------
2 48.3 30.0 10 8.6 20.3 18 3.7 69.9
---------------------- ---------------------- ----------------------
3(i) 27.3 1040 11 6.9 5.9 19 2.7 23.2
---------------------- ---------------------- ----------------------
4(i) 22.3 27.5 12 6.4 0.9 20 2.5 5.4
---------------------- ---------------------- ----------------------
5 21.2 16.2 13 6.0 7.9 21 2.1 0.6
---------------------- ---------------------- ----------------------
6 20.9 47.9 14 5.1 2.2 22 1.2 74.1
---------------------- ---------------------- ----------------------
7 20.6 33.0 15 4.3 3.2 23 1.2 52.9
---------------------- ---------------------- ----------------------
8 17.45 50.3 16 4.1 8.2 24 1.1 1.3
---------------------- ---------------------- ----------------------
(i)Sample 3 contains 1.06% Cu
(i)Sample 4 contains 5.8% Cu
Uranium North Completes Drilling on the Mallery Gold/Silver Project
Vancouver, BC, October 12, 2011 – Uranium North Resource Corp. (“Uranium North” or the “Company”) (TSX-V: UNR) announces the completion of the 2011 drill program on the Company's 100% owned Mallery project in Nunavut. Five drill holes totaling 750 metres were drilled into three known mineralized zones.
“All drill holes intersected silica and quartz veining as anticipated. This is very encouraging as gold is associated with silica on the Mallery property,” says Mark Kolebaba, President and CEO of Uranium North Resources.
The Eastern, Northwest and Stockwork zones were drilled. A broad resistivity anomaly associated with the Stockwork Zone was also tested and confirmed to be caused by intensive silica alteration and quartz veining. Laboratory results for the drill core are pending.
The Mallery project is located ~130 km Southwest of Baker Lake in Nunavut. Surface sampling of mineralized zones at Mallery has yielded gold values as high as 54 g/T and 272 g/T Ag. This is the first drill program on the property.
Bruce Kienlen, P.Geol, and Graham Gill P.Geo, are Qualified Persons as defined by National Instrument 43-101, assisting in reviewing data for this property.
UNR CEO video update on Mallery Project
UNR CEO Mark Kolebaba did a video update on the Mallery Project up in Nunavut.
Uranium North Mobilizes for Drilling at the Amer Lake Project
Vancouver, BC, May 10, 2011 – Uranium North Resource Corp. (“Uranium North” or the “Company”) (TSX-V: UNR) announces that it has mobilized fuel and drilling supplies to the Amer Lake property in Nunavut. Contracts and permits have been finalized for the program. The drill and crew are expected to arrive on site the first week of June to begin drilling operations.
“This is a low cost program that will attempt to expand the Main Zone deposit by 100%,” says Mark Kolebaba, President and CEO of Uranium North Resources.
The planned program will begin with approximately 2,500 metres of reverse circulation drilling. The drill program will test a southern extension of the Main Zone deposit where previous drill results returned up to 0.29% U308 (see news release dated January 14, 2009). The Company has mobilized sufficient fuel and supplies to the region providing the option to increase the program to 5,000 metres.
Bruce Kienlen, P.Geol and/or Graham Gill, P.Geo, are Qualified Persons as defined by National Instrument 43-101 reviewing data for this project.
About Uranium North
Uranium North is exploring five gold properties of which two are candidates for drilling. In addition, the Company is planning an aggressive expansion program on its 100% owned Amer Lake uranium property
Uranium North Stakes Additional Land at Mallery Gold / Silver Project and Prepares for Drilling
Vancouver, BC, May 4, 2011 – Uranium North Resource Corp. (TSX-V: UNR) announces that additional claims have been staked at the Mallery Stockwork gold / silver project in Nunavut. The new claims cover part of a significant new gold in till anomaly 3 kilometres south of the Mallery Stockwork which is scheduled for drilling in June, 2011.
The new gold in till anomaly is highlighted by a sample that contains 51 gold grains with the majority of grains being angular indicating a nearby bedrock source. This is the fourth largest gold grain anomaly on the property with the largest and similar anomalies occurring at the Mallery Stockwork.
“Our 2011 program will focus on drilling the Mallery Stockwork prospect. This new gold grain data extends our area of interest on the property and suggests a second mineralized trend or a southern extension of the Mallery Stockwork. In either event, we believe Mallery has the potential to be a large gold / silver bearing system,” states Mark Kolebaba, President and CEO of Uranium North Resources.
High gold and silver assays from surface grab samples of veins and volcanic rocks at the Mallery Stockwork prospect warrant core drilling in 2011. Values of interest from samples of quartz veins range from 1 g/T to 54 g/T gold. In addition, silver values are as high as 272 g/T (see news release dated October 14, 2010). A limited number of samples of the volcanic host rock have been analyzed, and gold values of interest in the range of 300 ppm to 2.19 g/T over 8 metre composite grabs have been returned (see news release dated February 1, 2011).
The company has funded an independent detailed review of the project which has led to the recommendation of several drill holes. Planning for a core drilling program is underway with an estimated June start date. Drilling will focus on high grade gold / silver quartz veins attempting to prove continuity between zones, determine grade and identify a large area with open pit potential.
The 100% owned Mallery Stockwork project is located 130 kilometres southwest of Baker Lake. The recently staked claims are pending approval by the Mining Recorder. The company has filed land use and water license applications and is awaiting final approval.
Bruce Kienlen, P.Geol and/or Graham Gill, P.Geo, are the Qualified Persons as defined by National Instrument 43-101 reviewing data for this project.
Uranium North is exploring five gold properties of which two are candidates for drilling. In addition, the company is planning an aggressive resource expansion program on its 100% owned Amer Lake uranium property.
For further information please contact:
Uranium North Resource Corp
Heather Kays Manager of Corporate Communications Tel: 604-719-3430 Fax: 604-484-7143 Email: info@uraniumnorth.com Web site: www.uraniumnorth.com
Uranium North Completes $8.0 Million Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA, Feb. 9, 2011 (Marketwire) --
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES
Uranium North Resources Corp. (TSX VENTURE:UNR) (the "Company") announces effective February 8, 2011 it has closed the brokered private placement with its agent, BayFront Capital Partners Ltd. (the "Agent") for the sale of 6,423,685 flow-through shares ("Flow-Through Shares") at a price of $0.38 per Flow-Through Share for gross proceeds of $2,441,000 and 18,530,000 units ("Units") at a price of $0.30 per Unit for gross proceeds of $5,559,000. Included in the issuance was the Agent's fully exercised over allotment option of $4,000,000.
Each Unit is comprised of one common share and one-half of one share purchase warrant ("Warrants"). Each whole Warrant entitles the holder to purchase one common share for a period of 18 months at a price of $0.38 per share for the first 12 months of the term and $0.45 per share for the remainder of the term.
The Agent and members of its selling group were paid aggregate cash commissions of $450,000 and were also issued 1,418,274 warrants (the "Brokers' Warrants"), each Brokers' Warrant entitling the holder to purchase one Unit for a period of 18 months at a price of $0.30 per Brokers' Warrant.
The Flow-Through Shares, Units and Brokers' Warrants are subject to a statutory hold period expiring on June 9, 2011.
The Company intends to use the gross proceeds of the Flow-Through Shares for Canadian mineral exploration purposes and the net proceeds of the Units for mineral exploration and working capital.
About Uranium North
Uranium North Resources Corp. owns 100% interest in four drill ready gold/silver/copper projects and one gold/silver project. The company also owns four uranium projects including the Amer Lake project which contains a 19.3 million pound uranium resource.
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Kolebaba, President and CEO
I sold another block of shares today at .5425 but Ameritrade only list .5127 as the high. What up with that??
Uranium North Completes $8.0 Million Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA, Feb. 9, 2011 (Marketwire) --
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES
Uranium North Resources Corp. (TSX VENTURE:UNR) (the "Company") announces effective February 8, 2011 it has closed the brokered private placement with its agent, BayFront Capital Partners Ltd. (the "Agent") for the sale of 6,423,685 flow-through shares ("Flow-Through Shares") at a price of $0.38 per Flow-Through Share for gross proceeds of $2,441,000 and 18,530,000 units ("Units") at a price of $0.30 per Unit for gross proceeds of $5,559,000. Included in the issuance was the Agent's fully exercised over allotment option of $4,000,000.
Each Unit is comprised of one common share and one-half of one share purchase warrant ("Warrants"). Each whole Warrant entitles the holder to purchase one common share for a period of 18 months at a price of $0.38 per share for the first 12 months of the term and $0.45 per share for the remainder of the term.
The Agent and members of its selling group were paid aggregate cash commissions of $450,000 and were also issued 1,418,274 warrants (the "Brokers' Warrants"), each Brokers' Warrant entitling the holder to purchase one Unit for a period of 18 months at a price of $0.30 per Brokers' Warrant.
The Flow-Through Shares, Units and Brokers' Warrants are subject to a statutory hold period expiring on June 9, 2011.
The Company intends to use the gross proceeds of the Flow-Through Shares for Canadian mineral exploration purposes and the net proceeds of the Units for mineral exploration and working capital.
About Uranium North
Uranium North Resources Corp. owns 100% interest in four drill ready gold/silver/copper projects and one gold/silver project. The company also owns four uranium projects including the Amer Lake project which contains a 19.3 million pound uranium resource.
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Kolebaba, President and CEO
"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.
Sold 1/4 of my shares today pocketing 400% profit on my original investment and keeping 3/4 of my shares for free. That is the way you do it.
Uranium North Identifies Expansion Possibilities on the Mallery Lake Gold/Silver Project
VANCOUVER, BRITISH COLUMBIA, Feb. 1, 2011 (Marketwire) --
Uranium North Resource Corp. ("Uranium North" or the "Company") (TSX VENTURE:UNR) demonstrates through a rock and soil sampling program that gold is present in the volcanic rock that hosts the gold bearing veins at Mallery. The combined mineralization within the veins and the adjacent volcanic rock considerably increases the mineralized width potential for the project. In addition, the 2010 rock and soil samples collected from the property suggest mineralization at Mallery is significantly more widespread than previously known. The Mallery Lake project is located in Nunavut and is 100% owned by the Company.
Mineralized veins have yielded gold assays greater than 1 g/T Au up to 54 g/T Au. Silver / gold values occur on a 1:1 to 1:5 ratio with silver ranging from less than 1 g/T to 272 g/T (See October 14, 2010 news release). Recent rock samples collected over sizeable intervals of the volcanic rock hosting the veins have also yielded gold mineralization. Of particular interest is a composite grab sample yielding 2.19 g/T Au over 8 metres, and chip samples of volcanic rocks with minor quartz vein material returning 1.45 g/T Au over 3 metres and 0.92 g/T Au over 2 metres. Recognizing that gold mineralization occurs in the host rock as well as the quartz veins increases the potential for wider zones of mineralization.
Interpretation of soil sample results collected over the project area indicates that the gold and silver mineralization may be more extensive than outcrop exposure demonstrates. Mineralization may be continuous between outcrop exposures along strike for at least 800 metres by 700 metres.
"Based on these data, we feel Mallery has the signature of a large mineralized gold and silver system. We are designing a drill program to test the mineralization with the goal of increasing the size of the known system significantly," says Mark Kolebaba President and CEO of the Company.
Planning for a 2011 exploration program at the Mallery Lake Property is underway. Plans include drilling up to 2000 metres and a detailed sampling program.
About Uranium North
Uranium North owns 100% interest in four drill ready gold/silver/copper projects and one gold/silver project. The company also owns four uranium projects including the Amer Lake project which contains a 19.3 million pound uranium resource.
Graham Gill, P.Geo., is the Qualified Person as defined by National Instrument 43-101, reviewing the 2010 lab results for the Mallery Lake project. The 2010 sample results described in this news release were collected to determine the presence or absence of gold and silver mineralization and should not be interpreted as being representative of average grades. Samples were prepared and analyzed at ALS Canada Ltd. using the ultra low detection limit multi-element package ME-MS41L on a sample size of 0.5 grams. The sample is digested by aqua regia and finished with ICP-AES or ICP-MS. Coarse materials such as native gold may not be detected in such a small sample size so gold content was reanalyzed using analytical method AU-TL43 on a 12.5 gram sample size. This method uses an aqua regia digestion with an ICP-MS finish.
On behalf of Uranium North Resources
Mark Kolebaba, President and CEO
Uranium North Resource Corp. Announces $4 Million Private Placement
Vancouver, BC, January 20, 2011 – Uranium North Resource Corp. (“Uranium North” or the “Company”) (TSX-V: UNR) is pleased to announce that it has entered into an agreement with BayFront Capital Partners Ltd. (the “Agent”) to act as agent for and on behalf of the Company, on a “best efforts” agency basis, without underwriter liability, in connection with a proposed private placement for aggregate gross proceeds of up to $4 million (the “Offering”). The Offering consists of the sale of flow-through shares (“Flow-Through Shares”) at a price of $0.38 per Flow-Through Share and/or units (“Units”) to be priced at $0.30 per Unit. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one common share exercisable for a period of 18 months following the closing date at a price of $0.38 per share for the first 12 month of the term and $0.45 per share for the remainder of the term.
The Company will grant the Agents an option (the “Agent’s Option”), which will allow the Agent to sell an additional $3 million Flow-Through Shares and/or Units, pursuant to the Offering. The Agents’ Option shall be exercisable, in whole or in part, on or prior to the closing date.
The Company intends to use the gross proceeds of the Flow-Through Shares for Canadian mineral exploration purposes and the net proceeds of the Units for mineral exploration and working capital.
The securities issued pursuant to the Offering will be subject to a 4 month and one day statutory hold period. In connection with the Offering, the Agent will receive a cash commission and broker warrants. The broker warrants will be exercisable into units with the same terms as the Units for a period of 18 months following the closing date.
The offering is scheduled to close on or about February 8, 2011 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For further information please contact:
Uranium North Resource Corp
Heather Kays Manager of Corporate Communications Tel: 604-719-3430 Fax: 604-484-7143 Email: info@uraniumnorth.com Web site: www.uraniumnorth.com
Reno Creek Environmental Baseline Studies on Schedule
Jan. 18, 2011 (Filing Services Canada) -- Bayswater Uranium Corp. (BYU - TSX Venture, BYSWF - OTCBB_Pink_Sheets), reports that the Company has made significant progress in its environmental baseline studies at its Reno Creek Uranium Project in Campbell County, Wyoming. Following are the highlights of the extensive ongoing program:
* Twenty-five of the initially planned forty-four monitoring wells have been completed and are operational. The balance of the wells will be drilled and developed early in 2011.
* Monitoring well data has confirmed that the sandstone ore horizon is physically confined above and below by shale across the entire project area.
* One pump test has been successfully completed and the data is being analyzed. The pump tests are designed to document that pumping in the ore body sandstone does not cause any hydrologic communication with the overlying and underlying aquifers and to provide hydrologic data that is used for the design of production and restoration operations.
* 2011 first quarter ground water samples, surface water and sediment samples have been collected and are in the laboratory for analysis.
* An on-site meteorological station has been installed and a full quarter of data obtained.
* Five air quality monitoring stations have been installed and a full quarter of data acquired.
* Vegetation and soils mapping are nearly completed, and are expected to be complete in the spring of 2011.
* Archaeological surveys have been completed. All 41 previously recorded cultural resource sites identified on the Reno Creek project had been evaluated as not eligible for the National Register of Historic Places (NRHP), and files indicate State Historic Preservation Office concurrence for all previously recorded sites. All 37 newly recorded localities are also evaluated as not eligible for the National Register.
* Wildlife surveys are more than 80% complete. The survey documented the absence of sage-grouse in the entire project area, as well as the absence of any threatened or endangered species.
* Wetlands mapping is more than 90% complete, and should be finished during the spring of 2011.
* The baseline radiological survey, including soil and vegetation sampling, is 90% complete, and will be completed by summer of 2011.
During October 2010, the Company successfully completed its first quarterly meetings with the Nuclear Regulatory Commission (NRC) and the Wyoming Department of Environmental Quality (WDEQ) to provide an update on the progress of activities, discuss initial findings of the baseline studies, and affirm that the baseline program continues to meet the needs of both agencies for their review of future permit applications. The Company confirmed that it plans to submit its application to the NRC for a Source and Byproduct Material License and its application to the WDEQ for a mine permit by the end of 2011.
During 2010, drilling of monitoring and observation wells located both inside and outside of known resource areas led to the following results pertaining to the known mineralized areas and their potential expansion on the project:
i) Holes confirmed mineralization within resource areas as identified from historical drilling by Rocky Mountain Energy and others; and
ii) Some of the monitoring and pump test wells, located outside of known mineralized areas, intersected significant new mineralization.
When above well drilling is completed in the first part of 2011, the data from all monitoring and observation wells will be integrated into the project database for additional resource evaluation. Mineralized intercepts outside of known resource areas indicate the potential for additional resources and are listed in the table below.
LISTING OF SIGNIFICANT INTERCEPTS GRADING 0.01% eU3O8 or HIGHER- 2010 DRILLING PROGRAM
Drilling Outside of Known Resource Areas at Reno Creek
-------------------------------------------------------------------------
Well ID Date of Depth to Intercept Intercept Intercept
Geophysical Intercept Thickness Grade % GT
Log Top (feet) (feet) eU3O8
-------------------------------------------------------------------------
PZM5 08/12/10 241.5 10.5 0.052 0.546
PZM1 10/11/10 312.5 6.0 0.028 0.168
PZM8 09/20/10 306.0 12.0 0.041 0.492
325.5 3.5 0.025 0.088
334.0 6.5 0.086 0.559
PZM9 09/24/10 313.0 7.0 0.031 0.217
338.5 1.0 0.018 0.018
PZM10 10/01/10 303.0 12.0 0.079 0.948
331.0 5.0 0.018 0.090
UM1 10/06/10 299.0 7.0 0.037 0.259
316.0 3.0 0.019 0.057
336.5 21.5 0.124 2.666
Includes this
higher grade
interval at
336.5: 6.5 0.332 2.158
PZM4 11/09/10 234.0 2.0 0.016 0.032
259.0 5.5 0.024 0.132
PZM19 12/07/10 311.0 3.5 0.013 0.046
-------------------------------------------------------------------------
Uranium North Reports 32.9 g/T Gold, 1350 g/T Silver and 4.2% Copper at Nowyak
http://finance.yahoo.com/news/Uranium-North-Reports-329-gT-iw-1218793434.html?x=0&.v=1
Uranium North Identifies High Gold, Silver and Copper Mineralization on the F13 Project
http://finance.yahoo.com/news/Uranium-North-Identifies-High-ccn-404770170.html?x=0
$0.210 Nov 26, 2010, 2:57 PM EST
Change: 0.035 (20.00%)Volume: 557,611
Day Low
0.170 Day High
0.220
52 Week Low
0.065
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0.230
Company Presentation
http://www.uraniumnorth.com/i/pdf/CorporatePresentation.pdf
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