Business & Finance
Business and Finance
Business and Finance 
Wed, May 19, 2010
Tue, May 18, 2010
Uranium North Completes Land Acquisition at the Aura Gold-Copper-Silver Property
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 18, 2010) - Uranium North Resources Corp. (TSX VENTURE:UNR) announces that it has staked and recorded mineral claims over the F13 and Robin prospects adjacent to the Aura Prospecting Permits which were awarded to the Company in February 2010 (see news release dated March 24, 2010).
The Robin prospect is a 200 metre wide gossanous boulder and outcrop zone with known gold, copper, and silver mineralization. The zone extends more than 1.6 kilometres. Trenching results reported from the zone in 1964 show assays up to 0.55 oz/ton (18.9 g/T) Au, 1.56 oz/ton (53.5g/T) Ag, and 9.91% Cu. The only two reported drill holes into the zone intersected minor nickel/copper mineralization. There were no assays for gold from the drill core as exploration was conducted primarily for nickel and copper. No additional work has been reported for this area since the mid 1960s.
"This is a tremendous opportunity for Uranium North to explore this zone from a gold perspective rather than nickel. The use of modern geophysical and geochemical tools will greatly enhance our search capabilities on the property," says Mark Kolebaba, President and CEO of Uranium North.
At F13 gold, copper and silver mineralization was discovered in 1964 by Inco. Samples collected from trenches located along structures with more than 400 metres strike length assayed up to 4.9 oz/ton (168.0 g/T) Au, 1.59 oz/ton (54.5 g/T) Ag and 21.4 % Cu. Reported assay data is shown in the table below.
| Historic assay results for F13 showing |
| Sample | Gold (oz/ton) | Gold (Grams/tonne) | Silver (oz/ton) | Silver (grams/tonne) | Copper (%) |
| Trench 1 | 0.11 | 3.77 | 0.03 | 0.86 | 2.02 |
| Trench 3 | 0.06 | 2.06 | 0.12 | 4.11 | 21.4 |
| Trench 4 | 0.88 | 30.17 | 0.41 | 14.06 | 12.12 |
| Trench 6 | 4.90 | 168.0 | 1.59 | 54.51 | 17.6 |
| Trench 6 | 3.64 | 124.8 | 1.18 | 40.46 | 14.0 |
| Inco 1 | 1.82 | 62.40 | 0.76 | 26.06 | 10.98 |
| Inco 2 | 0.66 | 22.63 | 0.26 | 8.91 | 5.46 |
| Trench 8 | 0.25 | 8.57 | 0.11 | 3.77 | 5.83 |
| QCP | 0.5 | 17.14 | 0.22 | 7.54 | 0.25 |
| CP | 0.94 | 32.23 | 0.42 | 14.4 | 0.16 |
| Original historical data reported in oz/ton and converted to grams/tonne by the Company using conversion factor of 34.2857. Historic sample interval widths not reported for trenches, therefore the Company assumes samples are grab samples. |
This is an extensive area with high gold, copper and silver mineralization associated with intensive shearing and iron carbonate altered felsic volcanic rocks. It is a prime target area for gold exploration.
The Company is finalizing work programs for these properties.
Bruce Kienlen, P. Geol, Qualified Person as defined by National Instrument 43-101, has reviewed the historical data in this news release. The data has not been verified by the Company, however, it appears to have been collected under standard best practices consistent with the time and appears to be of reasonable quality.
On behalf of Uranium North Resources,
Mark Kolebaba, President and CEO
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than 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 such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the 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.