Feb 2 2011
Uranium North Resource Corp. (TSX VENTURE:UNR) demonstrates through a rock and soil sampling program that gold is present in the volcanic rock that hosts the gold bearing veins at Mallery.
The combined mineralization within the veins and the adjacent volcanic rock considerably increases the mineralized width potential for the project. In addition, the 2010 rock and soil samples collected from the property suggest mineralization at Mallery is significantly more widespread than previously known. The Mallery Lake project is located in Nunavut and is 100% owned by the Company.
Mineralized veins have yielded gold assays greater than 1 g/T Au up to 54 g/T Au. Silver / gold values occur on a 1:1 to 1:5 ratio with silver ranging from < 1 g/T to 272 g/T (See October 14, 2010 news release). Recent rock samples collected over sizeable intervals of the volcanic rock hosting the veins have also yielded gold mineralization. Of particular interest is a composite grab sample yielding 2.19 g/T Au over 8 metres, and chip samples of volcanic rocks with minor quartz vein material returning 1.45 g/T Au over 3 metres and 0.92 g/T Au over 2 metres. Recognizing that gold mineralization occurs in the host rock as well as the quartz veins increases the potential for wider zones of mineralization.
Interpretation of soil sample results collected over the project area indicates that the gold and silver mineralization may be more extensive than outcrop exposure demonstrates. Mineralization may be continuous between outcrop exposures along strike for at least 800 metres by 700 metres.
"Based on these data, we feel Mallery has the signature of a large mineralized gold and silver system. We are designing a drill program to test the mineralization with the goal of increasing the size of the known system significantly," says Mark Kolebaba President and CEO of the Company.
Planning for a 2011 exploration program at the Mallery Lake Property is underway. Plans include drilling up to 2000 metres and a detailed sampling program.
Source:
Uranium North Resources Ltd.