Uranium North Identifies Zones with High Gold Assays on Robin Property
VANCOUVER, BRITISH COLUMBIA, Nov. 4, 2010 (Marketwire) -- Uranium North Resources Corp. (TSX VENTURE:UNR) announces high gold and copper results on its 100% owned Robin prospect located within the Aura Consolidated Gold project in Nunavut. Samples assayed as high as 11.75 g/T gold and 2.18% copper. In addition, Uranium North has extended the historical zone of mineralization to 2.6 kilometres from 1.8 kilometres as a result of prospecting.
"These are very promising results for a first pass prospecting program. This is especially so considering the mineralization appears to be along a continuous gold bearing structure. There are no historical reports confirming prior gold exploration on the property," says Mark Kolebaba, President and CEO of Uranium North Resources.
Mineralization at Robin appears to be related to quartz veins and granitic rocks along a north south trending structural linear feature. A total of 52 rock samples were collected along the trend with results clearly demonstrating that the entire structure is gold bearing and several areas containing high grade assays have been identified. Six areas along the trend yield samples assaying 1.0 g/T to 11.75 g/T Au. These areas are considered immediate high interest for follow up exploration. In addition, 16 samples along the structure contain gold ranging from 0.1 to 0.746 g/T Au and 20 samples assaying 20 to 100 ppm Au that will require additional prospecting and more detailed sampling.
Sampling in 2010 also confirms the presence of significant copper mineralization with 2 samples assaying 1.9% and 2.2% Cu and nine samples ranging between 0.1% to 0.6% Cu. Other elevated metals identified on the property include silver and lead. Silver assays ranging from 1.0 to 16.2 g/T Ag were observed in 16 samples and lead assays ranging from 0.14% to 1.14% Pb were observed in 4 samples.
The 2010 prospecting program was conducted to confirm historically reported gold, copper and silver mineralization on the property. An unconfirmed surface sample with 0.55 oz/ton (18.9 g/T) Au, 1.56 oz/ton (53.5g/T) Ag, and 9.91% Cu was reported to have come from the property in 1964, however a location for the sample was not provided. Although this sample site was not located, the new sites with gold, silver and copper confirm the potential of the property.
A review of geochemistry from soil samples collected at Robin and a detailed structural analysis of the property will be completed prior to planning the 2011 exploration program.
About Uranium North
Uranium North Resources Corp. has generated and advanced 6 gold properties in central Nunavut. The Company also owns 100% of the 19.3 million lb Amer Lake uranium deposit, one of the largest compliant NI 43-101 uranium resources in Nunavut.
Linda Erdman, P.Geo., and Geoffrey Goodall, P.Geo., are responsible for the design and execution of the 2010 program and have 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 in comparison with the 2010 data. Bruce Kienlen, P.Geol., is the Qualified Person as defined by National Instrument 43-101, reviewing the 2010 lab results.
2010 sample results described in this news release were grab samples collected to determine the presence or absence of gold mineralization. The results should not be interpreted as being representative of average grades. Samples were prepared and analyzed at ALS Canada Ltd. 30 grams of each pulverized sample were analyzed by multi-element four acid ICP-AES. Samples with greater than 10 g/T gold were re-analyzed with AA finish.
On behalf of Uranium North Resources
Mark Kolebaba, President and CEO
Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, activities and events or developments that Uranium North Resources Corp. (the "Company") expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Uranium North Resource Corp. Corporate Communication 604 - 484 - 7120 604 - 484 - 7143 (FAX) info@uraniumnorth.com www.uraniumnorth.com
