Uranium North Resource has declared that the 2011 exploration program on the Nunavut-based Nowyak property has enabled the company to discover high grade silver and gold mineralization with grab samples of assays up to 1040 g/t Ag, 72.1 g/t Au, and 5.8% copper.
Nowyak Showing
An induced polarization (IP) geophysical survey has resulted in a number of adjacent anomalies within a 1.8 by 1.0 km area along a shear zone. On performing follow-up prospecting, several new mineralized zones were discovered between the historic Century and Gareth showings. Silver, gold and copper mineralization is connected with a nearby granodiorite intrusion. The zone remains open to the south, north and west.
About 750 m to the southern side along the shear region, another high priority IP anomaly was discovered. This IP anomaly extends 550 m to the southern side in a covered overburden valley and is exposed to the south and north. The information obtained from a ground magnetic survey shows that a similar granodiorite intrusion is present as observed at the Garath - Century showing.
This new region, having strong IP anomalies and related silver and gold mineralization, is ready to be drilled. Depending on the high grade assays and size of the zone, the company feels that it will be able to discover a considerable gold deposit.
Overall, 88 grab samples obtained from this region are directly related to the IP anomalies. Twenty four samples returned increased metal content with more than 1 g/t Au.