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Re: News Release - Wednesday, February 20, 2008
Uranium North Identifies New High-Grade Uranium Target at KAM
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Vancouver, February 20, 2008 - Uranium North Resources Corp (UNR -
TSX-V) announces a new high-grade uranium exploration target on its
100% owned KAM prospect. Boulder samples associated with a two
kilometre long linear structure have yielded U3O8 values in the range
of <0.1 to 2.9%. A drill program is being planned to test parts of this
structure. KAM is one of 12 prospects identified on the South Baker
Property in the Thelon Basin region of Nunavut.
"This is an exciting new target for the KAM prospect and it has never
been drill tested" says Mark Kolebaba President and CEO. "Uranium
mineralization along an extensive structure with high-grade zones could
be a very significant find."
Uranium-rich boulders and airborne radiometric anomalies are coincident
with 2 kilometres of a 10 kilometre long linear airborne magnetic low.
Other similar geophysical anomalies have been identified on the
property.
Sample results suggest possible high-grade zones along the mineralized
structure. More than 224 rock samples collected in 2007 define the
boulder field. More than 40% of the samples exceed 0.2% U3O8 including
numerous boulders exceeding 1% U3O8.
Of special interest is one area measuring approximately 150 x 100
metres contains 9 boulders with U3O8 values exceeding 1%. Coincident
enzyme leach soil geochemical anomalies (up to 2 orders of magnitude
above background) support the possibility of a local 150 x 100 metre
bedrock source of high-grade uranium mineralization. Limited soil
geochemistry completed by the Company to date over this area strongly
suggests that the uraniferous system is open to the west with an
unknown width. View Map: http://www.uraniumnorthresources.com/s/KAM.asp
The boulders are gneissic in composition and exhibit chlorite-hematite
alteration and periodically strong silica filled brecciation textures.
Possible magnetite destruction due to alteration is the interpreted
cause of the magnetic low anomaly. Uranium mineralization occurs as
uranium oxides and hydroxides including pitchblende and is often
associated with pyrite and chalcopyrite.
Historical Information
This prospect was originally discovered by Urangesellschaft, who also
discovered the Kiggavik deposit. Boulder samples from the linear zone
yielded <0.1 to 4.03 % U3O8. In the absence of detailed airborne
magnetic data, the uraniferous boulders were at the time interpreted as
glacially transported. Historical drilling on KAM was based on Induced
Polarization data and never truly tested the KAM prospects or the newly
interpreted east-west structure. Four holes drilled along the edges of
KAM South, one of the original prospects at KAM, returned the best
drill intercepts at the KAM prospect including 0.42% U3O8 over 1 metre,
0.17 % U3O8 over 4 metres and 0.17% U3O8 over 3metres. The historical
sample data reported in this release is mainly from assessment files.
The accuracy and validity of this historic data has not been verified
by Uranium North or its consultants.
Laboratory Accreditation and Qualified Persons
Samples were selected for analysis in the field using a spectrometer.
All samples were processed at Activation Laboratories Limited of
Ancaster, Ontario, Canada. Activation Laboratories Limited is
accredited by the Standards Council of Canada to ISO/IEC Standard 17025
Accredited Laboratory #266 and by the Florida Department of Health to
NELAC Accredited Laboratory # E87979.
W.E. Brereton (P.Eng.) and J.S. Brett (P.Geo.) of MPH Consulting
Limited are Uranium North's qualified persons responsible for the
design and interpretation of the geochemical and geophysical programs,
respectively.
Uranium North holds 100% interest in properties located within the most
prospective uranium basins in Canada, namely the Athabasca and Thelon
Basins and is focused on discovery.
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,
exploitation 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, exploitation and 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.
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Copyright (c) 2008 URANIUM NORTH RESOURCES CORP., (UNR) All rights
reserved. For more information visit our website at
http://www.uraniumnorthresources.com/ or send
mailto:info@uraniumnorthresources.com
Message sent on Wed Feb 20, 2008 at 7:45:20 AM Pacific Time
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