KELOWNA, BC, May 13, 2015
/CNW/ - Northern Uranium Corp. (TSXV : UNO) ("Northern
Uranium" or, the "Company") is pleased to provide a progress report
on its 50% owned North West
Manitoba project. The Company can earn up to an 80%
interest in the project from CanAlaska Uranium Ltd (TSXV:CVV).
Northern Uranium has completed its winter drill program at
Maguire Lake where it continues to intersect a substantial
hydrothermal alteration zone, with multiple structures over a 100
metre width and 300 metre strike length characterized by intense
clay-hematite alteration. Unconformity style uranium
mineralization within the Athabasca basin is associated with these
hydrothermal alteration zones.
Since the last release hole MG15DD-0014 was completed but a
second hole, MG15DD-0015, was stopped while still in overburden due
to deteriorating ice conditions.
In addition, both an expanded ground gravity survey and an
infill RadonEx radon-in-water survey have been completed over the
Maguire Lake focus area.
At Snyder Lake, 12 kilometres along strike from the Maguire Lake
focus area, a reconnaissance RadonEx radon-in-water survey suggests
that uranium mineralization may extend for a significant strike
length within the Company's claims area.
Hole MG15DD-0014
Drill hole MG15DD-0014 is located 120 metres along strike to the
northeast from mineralized hole MG15DD-0012 (reported on
April 22, 2015) and was drilled at a
bearing of 320 degrees and a dip of -55 degrees targeting the
center of the gravity low, a conductivity anomaly at 100 metres
depth and anomalous RadonEx radon-in-water results. This
anomaly was previously tested by vertical hole MG15DD-0009 which
suffered from very poor core recovery and the hole was lost before
a down hole gamma ray survey could be completed.
Limonitized semi-pelitic gneiss was intersected at 37.1 metres
which transitions to variably clay altered, chloritized
calc-silicate before entering a massive clay altered zone at 124.0
metres. This massive clay altered zone is initially pale with
rusty limonite and patchy red hematite and progressively changes to
a mixture of deep brown, lime green chlorite and brick red
hematite. The massive clay altered zone continues to 165.6
metres after which the rock becomes progressively less altered
semi-pelite with pegmatite units. The hole ended at 227.8
metres.
Good core recovery (93.3%) was achieved in the massive clay
alteration zone in spite of the poor rock conditions. A down
hole gamma log returned a spike of 630 counts per second (cps) at
80 meters depth associated with a hybridized pegmatite and elevated
radioactivity was detected in the massive clay alteration zone of
up to 486.7 cps.
Drill hole MG15DD-0014 confirms the presence of the previously
drilled hydrothermal alteration and defines a horizontal width of
about 50 metres hosting a series of radioactive spikes reaching
about five times background.
RadonEx Radon in Water Survey
RadonEx Exploration Management has now completed an infill radon
in water survey over portions of Maguire Lake and a separate survey
over a portion of Snyder Lake, which is located approximately 12
kilometers along strike to the northeast of the Company's focus
area at Maguire Lake.
A total of 253 radon in water samples were collected at Maguire
Lake. These samples were collected to provide infill around
previously identified drill targets. In these areas the line
spacing was reduced from 200 meters to 100 meters. These
results confirmed and expanded the existing anomalies, aiding in
our drill targeting.
At Snyder Lake 234 radon in water samples were collected on a
coarse grid covering a 2 by 3 km area. Of the 234 samples,
six samples had results greater than 100 pCi/L with a highest
reading of 327 pCi/L. These results demonstrate that uranium
mineralization appears to extend along a significant strike length
along the Maguire Structural Trend within Northern Uranium's
project area.
Ground Gravity Survey
Northern Uranium has contracted Initial Exploration Inc to
expand the ground gravity grid at Maguire Lake. The field
collection of the data is now complete and it is presently being
compiled. This work will almost double the coverage area from
around 18 km2 to over 30 km2. The newly
expanded coverage has now fully defined several pronounced gravity
lows which were at the margin of the previous survey.
These gravity lows could reflect the alteration zones associated
with unconformity style uranium mineralization.
Summary
Northern Uranium is pleased to have discovered a substantial
hydrothermal system under Maguire Lake in its winter drill
program. Elevated radioactivity within the zone demonstrates
its potential to host unconformity style uranium
mineralization.
In a presentation at the 2011 Saskatchewan Open House conference
Cameco announced a new uranium discovery after three years of
drilling at their Ayra Project in Nunavut where a drill hole "finally hits
anomalous radioactivity of > 100cps and up to 200cps with
limonite alteration." In comparison, using the same
scintillometer equivalent Northern Uranium's drill hole MG15DD-0014
intersected 300cps in a hole with limonite alteration. Thus
our intersection is most significant even by Cameco standards.
Though delineation drilling of much of this zone will have to
wait to the upcoming winter some drilling at deeper levels can be
completed this summer from shore.
In addition, there are 7 land targets to be tested. These
anomalies are based on the results of ground gravity, ground
IP/resistivity surveys, airborne electromagnetic surveys, RadonEx
radon in water surveys and AlphaTrack radon on land surveys.
All of these targets are up-ice of uraniferous boulders (up to 66%
U3O8) discovered in a prospecting program by
CanAlaska geologists.
The summer drill program is anticipated to commence with two
diamond drills in early June.
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.