KELOWNA, BC, Nov. 21, 2014 /CNW/ - Northern
Uranium Corp. (TSXV : UNO) ("Northern Uranium" or, the
"Company") is pleased to provide a progress report on the drilling
at its North West Manitoba
property.
Northern Uranium is pleased to report that the drilling program
at Maguire Lake is progressing. Bedrock has now been
intersected at a depth of 21.5 meters.
At the end of August the Rotary Air Blast (RAB) drill was
mobilized to site to commence collection of bedrock samples just
below the overburden over priority uranium targets. The drill
was unable to penetrate the overburden and it became evident that a
significantly more powerful drill would be required. The RAB
rig was demobilized from site to the manufacturer and substantially
modified to suit the ground conditions present at the project.
The drill arrived back at site just prior to freeze
up. With freeze up conditions preventing access to the
highest priority targets the drill was positioned on a second
priority target located near camp. This target featured
moderately strong radon results as determined by the AlphaTrack
survey completed in late 2013. This radon anomaly is
coincident with a moderately low gravity anomaly. The gravity
low could reflect alteration of the surrounding bedrock by the
fluids depositing uranium mineralization.
Elevated radon values and/or gravity lows reflect uranium
mineralization at depth at Fission Uranium's Patterson Lake deposit, NexGen's Arrow discovery
and Areva's Andrew Lake deposit.
Biotite rich semi-pelite bedrock, which is a known host of
uranium was intersected at a depth of 21.5 meters and drilling
continued to a depth of 30 meters. Composite samples were
collected from the drill cuttings every 1.5 meters. These
samples were analyzed using an Iso
Cart 85 gamma ray spectrometer which detects Uranium 232,
234, 235 and 238 as well as Lead 210, Bismuth 214 and Radium
226. Analysis of the samples determined that there was an
increase in Uranium 232, 234, 235, 238 as well as Lead 210 and
Bismuth 214 isotopes at the till-bedrock contact. Uranium 234
and 238 as well as Lead 210 are mobile and therefore could
have travelled up structural zones from an uranium source detected
by the gravity low and elevated radon values in a favourable
semi-pelite bedrock source.
Northern Uranium is planning on completing one additional hole
at this anomaly. Upon completion of this hole it is expected
that conditions will allow the drill to be moved to the higher
priority anomalies.
These high priority anomalies have been defined by radon survey
results, combined with geophysical surveys including magnetic,
electromagnetic, induced polarization and gravity surveys and the
results of extensive prospecting which has located boulders
containing up to 66% U3O8.
Northern Uranium geologists are most encouraged by the results
of the initial drill hole as they are consistent with the gravity
low and elevated radon anomalies reflecting uranium mineralization
at depth. Additional drilling with the core drill rig which
is now on site, capable of intersecting uranium at depth is
therefore warranted.
Northern Uranium has optioned the Northwest Manitoba project from Canalaska
Uranium Ltd and has the ability to acquire up to an 80% interest in
the project.
The technical information and results reported here have been
reviewed by Chad Ulansky, PGeo, a
qualified person under National Instrument 43-101, who is
responsible for the technical content of this release.
Forward Looking Statements
Some of the statements contained herein may be forward-looking
statements which involve known and unknown risks and
uncertainties. Without limitation, statements regarding
potential mineralization and resources, exploration results, and
future plans and objectives of the Company are forward looking
statements that involve various risks. The following are
important factors that could cause the Company's actual results to
differ materially from those expressed or implied by such forward
looking statements: changes in the world wide price of mineral
commodities, general market conditions, risks inherent in mineral
exploration, risks associated with development, construction and
mining operations, the uncertainty of future profitability and the
uncertainty of access to additional capital. There can be no
assurance that forward-looking statements will prove to be accurate
as actual results and future events may differ materially from
those anticipated in such statements. The Company undertakes
no obligation to update such forward-looking statements if
circumstances or management's estimates or opinions should change.
The reader is cautioned not to place undue reliance on such
forward-looking statements.
Neither 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.
SOURCE Northern Uranium Corp.