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News Release - Wednesday, May 16, 2012
Uranium North Discovers Significant Graphite on Amer Property and
Stakes New Ground
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Vancouver, BC, May 16, 2012 - Uranium North Resource Corp. ("Uranium
North" or the "Company") (TSX-V: UNR) announces that it has identified
significant amounts of graphite on its 100% owned Amer Lake Property in
Nunavut. Multiple graphite bearing beds ranging from 15 to 25 metres
thick have yielded up to 4.13% graphite.
Graphitic beds have been intersected by two reverse circulation drill
holes 3.1 kilometres apart as well as a core hole drilled 15 kilometres
to the east. The same graphitic units have been identified in three
surface outcrop exposures spanning an area of 22 x 10 kilometres.
The graphitic rocks are flat lying and occur in a basin scale
stratigraphic unit that is a minimum of 60 metres thick and is expected
to extend over a 26 x 8 kilometre area based on geological mapping.
"We are quite excited by the fact that the graphite at Amer occurs in
thick extensive beds, not small thin veins. The thickness, grade and
lateral extent of these graphite beds clearly represents a large scale
deposit target for the company and depending on the nature of the
graphite; this is a very significant discovery. With the future
outlook of graphite and uranium, the Amer Lake property is highly
valuable," says Mark Kolebaba, President and CEO of Uranium North
Resources.
Six test samples were randomly selected from two reverse circulation
drill holes 3.1 kilometres apart and submitted for analysis to
determine the graphitic carbon (Cg) content. The results from the
analysis are shown in the table below.
Sample (Cg) %
54268 4.13
54271 3.2
54272 3.84
89474 0.6
89477 3.22
89482 3.77
Analysis method is Infrared
Samples have been submitted for mineral liberation analysis (MLA) to
determine the nature and particle size of the graphite.
Graphite beds that outcrop at surface along the paleo-basin margins
should be mapped in detail and sampled systematically. A 2000 to 3000
metre drill program with drill hole spacing at 500 to 1000 metres is
required to test the grade, thickness and lateral extent of the
graphite units across the basin.
Graphite at Amer Lake was recognized during the company's uranium
exploration program. The presence of graphite was investigated as a
reducing environment favorable for uranium precipitation. This new
graphite discovery increases the attractiveness of the Amer property
where we have an existing uranium resource with potential to expand.
Since the discovery of graphite on Amer, the company has staked
additional claims over areas with known outcropping graphitic rocks.
The project is 70 kilometres from an all season road to Baker Lake and
sea access.
Bruce Kienlen, P.Geol, and Graham Gill P.Geo, are Qualified Persons as
defined by National Instrument 43-101 reviewing the data in this news
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
"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."
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.
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Copyright (c) 2012 URANIUM NORTH RESOURCES CORP,. (UNR) All rights
reserved. For more information visit our website at
http://www.uraniumnorth.com/ or send mailto:info@uraniumnorth.com
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Uranium North Resources
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EXPLORATEUR |
CODE : UNR.V |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Uranium North Res. est une société d’exploration minière d'uranium basée au Canada. Uranium North Res. détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont MALLERY LAKE, AMER LAKE, THELON PROJECT (SOUTH BAKER), HEPBURN et AURA GOLD PROPERTY au Canada. Uranium North Res. est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 1,7 millions CA$ (1,7 millions US$, 1,2 millions €). La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2007 à 1,78 CA$, et son plus bas niveau récent le 15 février 2013 à 0,02 CA$. Uranium North Res. possède 85 555 000 actions en circulation. |