Uranium North Resources Corp fka UNR (UNR)

[EnergyGuy62]

Uranium North Identifies Gold Potential on KAM Property
9:04 AM ET, February 1, 2010
VANCOUVER, BRITISH COLUMBIA, Feb 01, 2010 (MARKETWIRE via COMTEX) -- Uranium North Resources Corp (UNR) announces the recovery of abundant gold grains from glacial till on its 100% owned KAM property in Nunavut. An anomalously high concentration of gold grains have been recovered from till collected over an underexplored volcanic rock unit.
The Company considers the KAM gold results highly significant as they represent the largest anomalous concentration of gold in till within a 100 x 100 kilometre region. There is no record of previous gold exploration in the area and based on this till data and geology, KAM may represent a new gold district in Nunavut. Further, a high percentage of the gold grains recovered exhibit surface morphology showing low to moderate transport distances that indicate the gold source is nearby. A fault-bound contact immediately east of the anomaly is a target for detailed exploration.
Planning is underway for a gold exploration program at KAM. Work will include additional till sampling and detailed prospecting towards and along a regional structure in an attempt to locate bedrock gold sources for drill testing.
"Our strategy of generating gold projects allows the shareholders to own the company for its uranium potential and at the same time participate in a strong gold market" says Mark Kolebaba, President and CEO of Uranium North.
The identification of gold at KAM is the second of several new gold opportunities identified by the Company. Over the next few months the Company plans to further expand its interests in gold and other metal commodities through its large proprietary geochemical and geophysical databases.
Uranium Potential at KAM
In addition to the gold potential, KAM is a high priority uranium target. Drilling by the Company has identified significantly large alteration zones with high grade U3O8 intersections. (See news release dated December 04, 2008.)
The most significant drill results from three drill holes are summarized in the table below. The next uranium exploration programs at KAM will focus on determining the orientation of the mineralization. A better understanding of the orientation of the mineralization will help define a potential uranium resource on the property.
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