KELOWNA, BC, June 17, 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 commenced its summer drill program at Maguire Lake utilizing two large core drills.
One drill is testing the extension of the newly discovered 100 metre wide by 300 metre strike length hydrothermal alteration zone beneath Maguire Lake. This zone is open both along strike and to depth and is characterized by intense clay-hematite alteration with elevated uranium values as determined by down hole gamma probing. Unconformity style uranium mineralization within the Athabasca basin is associated with these hydrothermal alteration zones.
The second drill is targeting another gravity low with a sympathetic resistivity low and RadonEx radon-in-water anomaly adjacent to the shore of the lake.
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.
For further information: Chad Ulansky, President & CEO, +1-250-448-4110