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Re: News Release - Tuesday, April 15, 2008
Uranium North Targets 24 Metre Thick Uranium Mineralized Zone at
Hawk Lake
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Vancouver, April 15, 2008 - Uranium North Resources Corp. (UNR - TSX-V)
announces that upper and lower zones of uranium mineralization have
been identified on the Hawk Lake prospect located on the 100% owned
South Baker property in Nunavut. Based on three dimensional modeling of
historic drill holes, both zones appear as sheets that dip
approximately 30o to 40o to the southeast. The longest historic drill
intercept into the lower zone occurred at approximately 44 metres
depth, yielding 0.20% U3O8 over 24 metres. The lower zone is open along
strike and to depth.
Supporting airborne geophysical data acquired in 2007 by Uranium North
show magnetic and radiometric anomalies that are coincident with the
Hawk prospect. In addition, limited enzyme leach soil geochemistry over
the Hawk prospect highlights distinct uranium anomalies that are open
in three directions.
"This is a shallow target with significant mineralization open along
strike and down dip. I believe Hawk Lake has the potential to deliver a
considerable size uranium deposit", says Mark Kolebaba, President of
Uranium North.
Attached below is a revised table of drill-hole assays for the
significant drill intercepts into the Hawk prospect.
An initial six to ten drill holes have been planned to verify the
historical drill data and begin to test the extent of the uranium
mineralization at Hawk Lake. Five other nearby airborne radiometric
anomalies have been identified and will be targeted as similar
mineralized zones.
Technical Information on the Hawk Uranium Prospect
Historic drill-hole data was used to form a three dimensional model,
using drill hole modeling software. The modeling depicts a significant
concentration of uranium at Hawk Lake that is open in three directions,
providing opportunities for expansion. Exploration drilling at Hawk
Lake was originally conducted by Noranda in 1978 to 1982. Thirty seven
drill holes were used in the review. Eighteen of the holes were
"winkie" size drill holes (130.52 metres) and 19 holes were BQ size
(1653.23 metres). Fourteen of the holes did not penetrate deeper than
15 metres, 6 of which terminated in overburden. Numerous significant
uranium mineralized intersections were encountered. The table below
highlights the significant drill-hole data.
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Hole From To Interval %U3O8
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H-11 49 73 24 0.20
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including 53 56 3 0.32
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including 64 71 7 0.30
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H-22 46 57 11 0.21
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including 47 53 6 0.29
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H-10 3 17 14 0.06
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H-10 17 31 14 0.12
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including 24 26 2 0.42
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H-10 45 60 15 0.18
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including 46 51 5 0.33
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including 55 56 1 0.33
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H-36 35 40 5 0.15
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including 36.2 37.4 1.2 0.33
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H-15 21 25 4 0.11
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H-15 33 35 2 0.06
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H-24 11.8 12.8 1 0.89
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H-37 10 11.15 1.15 0.07
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H-37 14 16.15 2.15 0.31
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including 14 15.15 1.15 0.53
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H-4 1.2 7.6 6.4 0.08
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This area coincides with more than 120 radioactive boulders with assays
of 4.10% to 0.05% U3O8 on surface over a 40 by 220-metre area. Drill
hole H-10-79 also averaged 0.18% MoS2 (molybdenite) over a 10 metre
drill intercept.
Fixed-wing geophysical data acquired by Uranium North in 2007 by
Terraquest Ltd. at a line spacing of 100 metres shows a N/NW-trending
linear negative magnetic anomaly that is coincident with the Hawk zone,
which may infer a bedrock alteration zone. The mineralized zone is
also coincident with a fixed-wing 7ppm equivalent uranium anomaly,
within a 1.3ppm background. In addition, enzyme leach soil geochemistry
acquired over the Hawk zone at 100m x 50m sample spacing, analyzed at
Activation Laboratories Ltd., forms a coincident uranium anomaly up to
31 ppb, within a background of <5ppb, open in 3 directions.
Hawk is one of 12 known prospects identified on the South Baker
Property. The Company's exploration concept for South Baker is based on
developing tonnage from several closely spaced deposits as at Kiggavik.
The Kiggavik deposits have been reported by Areva to comprise 148
million pounds from six different deposits. (Uranium North has not
verified whether Kiggavik is a NI 43-101 defined resource.)
All of the above historical data were reported prior to NI 43-101. The
historical Noranda drill core is unavailable and specific hole
locations are not known with absolute certainty therefore cannot be
relied upon. Uranium North has not independently verified the
historical data therefore under current 43-101 guidelines the results
should not be relied upon. It is the opinion of Uranium North's
qualified person that the Noranda work is of high professional caliber
and Uranium North further believes that these results provide an
indication of the potential of the property and are a compelling basis
for ongoing exploration.
W.E. Brereton (P.Eng.) of MPH Consulting Limited is Uranium North's
qualified person with respect to this project and has reviewed and
approved the technical information in this release.
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
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