KELOWNA, BC, Feb. 25, 2015
/CNW/ - Northern Uranium Corp. (TSXV : UNO) ("Northern
Uranium" or, the "Company") is pleased to provide a progress report
on the drilling at its 50% owned North
West Manitoba property.
Since optioning the North West
Manitoba project from CanAlaska Uranium Ltd in late 2013 the
Company has completed ground gravity surveys, an AlphaTrack radon
cup survey on land, a RadonEx radon in water survey as well as
twenty rotary air blast drill holes and ten diamond drill
holes. Northern Uranium currently has a 50% interest in the
project, is earning a 70% interest now and has the ability to earn
a 80% interest.
Core from the four most recent diamond drill holes (MG14DD-0007,
MG15DD-0008, MG15DD-0009 and MG15DD-0010) at Maguire Lake have been
inspected by Dr. Karl Schimann V.P.
Exploration for CanAlaska Uranium Ltd. Dr. Schimann reports
that the alteration occurring in these holes show alteration
patterns similar to those associated with unconformity style
uranium deposits, but, in particular, vertical drill hole
MG15DD-009 has intersected "an intense hydrothermal (alteration)
system" suggesting that uranium mineralization may occur in close
vicinity. Dr. Schimann continues "the alteration is very
impressive by its length (in the hole) and its intensity" and is
"typical of the alteration associated with an unconformity uranium
deposit."
Beneath 20.5 meters of water vertical hole MG15DD-0009
penetrated 14.7 meters of overburden before intersecting
bedrock. Dr. Schimann states that "the alteration starts near
surface and increases in intensity and quality down hole."
Unfortunately as the rock became ever more altered the core
recovery diminished. From a depth of 135 meters to the end of
hole at 174 meters virtually no core was recovered.
Geologists associated with Northern Uranium are most excited by
this hole as it was designed to test a large (500m x 800m) intense
low (1.5mgal) gravity anomaly, coincident with a conductivity
anomaly and associated with anomalous results from the RadonEx
radon in water survey. Furthermore, prospecting has located
boulders down ice from this anomaly which have assayed up to 66%
uranium.
Gravity anomalies are associated with uranium mines and deposits
within the Athabasca Basin such as
NexGen's Arrow discovery and beyond the basin such as AREVA's
Kiggavik deposit in Nunavut. Conductivity anomalies are
also associated with Athabasca
uranium deposits such as Fission's recent Patterson Lake South
discovery. An anomalous radon in water anomaly was also used
to target drilling of uranium mineralization at the Patterson Lake
South deposit.
The fractures related to the intense hydrothermal alteration in
MG15DD-0009 are sub-vertical (5 to 10 degrees from core
axis). Consequently the next hole will need to be drilled at
an incline to better crosscut the sub-vertical hydrothermal
alteration system.
To accomplish this a more capable drill is required.
Drilling with a rig capable of not only drilling inclined holes
through water, but also drilling larger core (up to 8.3 cm in
diameter) is anticipated to commence within 2 weeks. The
larger core diameter should improve core recovery. A down
hole gamma probe is on site to detect uranium mineralization in the
absence of good core recovery.
The Company looks forward to the upcoming drilling which is
targeted to intersect the very large gravity low anomaly and very
intense conductive anomaly occurring in the immediate vicinity of
hole MG15DD-0009.
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.