Uranium North Completes Drilling on the Mallery Gold/Silver Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/12/11 -- Uranium North Resource Corp. ('Uranium North' or the 'Company') (TSX VENTURE: 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 approx. 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.
About Uranium North
Uranium North Resources is a multi-commodity company focused on gold, silver and uranium in Nunavut. All properties are 100% owned including the Amer Lake uranium deposit, one of the largest uranium resources in Nunavut. The Company completed drilling on the Amer Lake uranium property and the Mallery gold/silver property as part of the 2011 exploration program.
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.'
Contacts:
Uranium North Resources Corp.
Heather Kays
Corporate Communication
604-484-7120
604-484-7143 (FAX)
info@uraniumnorth.com
www.uraniumnorth.com
