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VANCOUVER, BRITISH COLUMBIA-(Marketwire - Jan. 12, 2012) - Uranium North Resource Corp. (“Uranium North” or the “Company”) (TSX VENTURE:UNR) announces that this 2011 exploration program for the Nowyak property in Nunavut has focused the organization into a zone of top class gold and silver mineralization with grab samples assaying approximately 72.1 g/t Au, 1040 g/t Ag and 5.8% copper.
An induced polarization (IP) geophysical survey has outlined numerous contiguous anomalies inside a 1.8 kilometre by 1.0 kilometre area along a shear zone. Follow-up prospecting of this area ended in the discovery of several new mineralized zones relating to the historic Gareth and Century showings . Gold, silver and copper mineralization in this region is related to a nearby granodiorite intrusion. www.australiacrusher.com/pligg The zone remains offered to the north, south and west. Another high priority IP anomaly 750 metres towards the south along the shear zone seemed to be recognized. This IP anomaly extends at least 550 metres to florida in an overburden covered valley which is open to north of manchester and south. Data from your ground magnetic survey suggests the existence of a similar granodiorite intrusion as observed with the Garath - Century showing. “This new zone, based on strong IP anomalies and associated silver and gold mineralization, is drill ready. Based on the high grade assays and extent from the zone, we've got the potential to discover a significant gold deposit,” says Mark Kolebaba, President and CEO of Uranium North Resources. A complete of 88 grab samples collected from the area are directly from the IP anomalies. Twenty-four of the samples have returned high metal quite happy with greater than 1 g/t Au. The table below highlights the most important 2011 samples. India Spiral Classifier Nowyak Sample Highlights Sample Au g/t Ag g/t Sample Au g/t Ag g/t Sample Au g/t Ag g/t 1 72.1 89.0 9 14.0 256 17 4.0 15.0 2 48.3 30.0 10 8.6 20.3 18 3.7 69.9 3* 27.3 1040 11 6.9 5.9 19 2.7 23.2 4* 22.3 27.5 12 6.4 0.9 20 2.5 5.4 5 21.2 16.2 13 6.0 7.9 21 2.1 0.6 6 20.9 47.9 14 5.1 2.2 22 1.2 74.1 7 20.6 33.0 15 4.3 3.2 23 1.2 52.9 8 17.45 50.3 16 4.1 8.2 24 1.1 1.3 *Sample 3 contains 1.06% Cu *Sample 4 contains 5.8% Cu Nowyak is considered a greenstone hosted lode-gold prospect. Several drill targets are actually delineated within this zone. Plans for that 2012 season are underway. Drilling could come from spring/summer 2012. Bruce Kienlen, P.Geol could be the Qualified Persons as based on National Instrument 43-101, assisting in reviewing data with this property. For Uranium North Resources Mark Kolebaba, President and CEO Forward-Looking Information This release includes certain statements that could be deemed “forward-looking statements”. iron ore mining All statements in this release, besides statements of historical facts, that address exploration drilling, activities and events or developments that Uranium North Resources Corp (the “Company”) expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in these forward-looking statements are based on reasonable assumptions, such statements are certainly not guarantees of future performance and actual results or developments may vary materially from those in the forward-looking statements. Factors which could cause actual leads to differ materially from those involved with forward looking statements include market prices, exploration successes, and continued use of capital and financing and general economic, market or business conditions. Investors are cautioned that such statements are certainly not guarantees of future performance and actual results or developments varies materially from those projected in the forward-looking statements. The organization does not assume any obligation to update or revise its forward-looking statements, whether on account of new information, future events or else. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies from the TSX Venture Exchange) accepts responsibility for your adequacy or accuracy on this release. Tags: Uranium North Discovers New High Grade Gold And Silver Zones At Nowyak
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