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.
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.
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.
For further information: Chad Ulansky, President & CEO, +1-250-448-4110