Uranium North Resources Corp. ("Uranium North" or the "Company") (TSX
VENTURE:UNR) announces gold mineralization was intersected in all five drill
holes at the Mallery Lake gold property in Nunavut. 


Drill hole ML-11-01, drilled near the western margin of the Stockwork zone,
intersected a 3 metre zone of 4.62 g/T gold including 0.55 metres at 15 g/T.
Drill hole ML-11-02, was the deepest drill hole into the Stockwork zone and
intersected numerous mineralized zones including 21 metres of 1.01 g/T gold at a
depth between 170 and 191 metres. Drill holes ML-11-03, 04, and 05 intersected
mineralized zones showing lateral extent to the northeast, east, and west of the
Stockwork zone. (See map on our website:
http://www.uraniumnorth.com/i/pdf/Mallery-Map-Jan18.pdf.)


These drill results are very encouraging as they highlight typical grades,
widths, textures and mineralogy encountered in the upper parts of epithermal
gold deposits. Based on the epithermal gold deposit model, higher grade zones of
gold and silver mineralogy occur at depth. The Mallery gold system is
intermittently exposed over an area 800 x 700 metres. 


Based on vein composition, textures, and estimated pressure and temperature
calculations, it is assumed that Mallery is an epithermal gold system. (See
diagram A on our website to view Mallery conceptually as an epithermal gold
system:
http://www.uraniumnorth.com/i/pdf/Epithermal-Conceptual-model-for-Mallery.pdf)


"This drilling tests the upper parts of a possible epithermal gold system and
intersected significant widths of mineralization. More drilling will evaluate
Mallery at depth, where higher grade zones of mineralization commonly occur in
these types of systems," says Mark Kolebaba, President and CEO of Uranium North
Resources.




Mallery 2012 Drill Results                                            
----------------------------------------------------------------------
Hole                    From            To      Interval      Gold g/T
----------------------------------------------------------------------
ML-11-01                  12            19             7           2.1
----------------------------------------------------------------------
ML-11-01           including                           3           4.6
----------------------------------------------------------------------
ML-11-01                 108           109             1           1.4
----------------------------------------------------------------------
                                                                      
----------------------------------------------------------------------
ML-11-02                  80            82             2           1.8
----------------------------------------------------------------------
ML-11-02           including                         1.2           3.0
----------------------------------------------------------------------
ML-11-02                  89            92             3           1.9
----------------------------------------------------------------------
ML-11-02           including                           1           5.5
----------------------------------------------------------------------
ML-11-02               106.7        113.78           7.1           2.0
----------------------------------------------------------------------
ML-11-02           including                         1.9           6.2
----------------------------------------------------------------------
ML-11-02              160.26           163           2.7           1.1
----------------------------------------------------------------------
ML-11-02                 170           191            21           1.0
----------------------------------------------------------------------
ML-11-02           including                           4           3.4
----------------------------------------------------------------------
ML-11-02                 222           224             2           1.5
----------------------------------------------------------------------
                                                                      
----------------------------------------------------------------------
ML-11-04                  27            40            13           1.2
----------------------------------------------------------------------
ML-11-04           including                           4           2.9
----------------------------------------------------------------------
                                                                      
----------------------------------------------------------------------
ML-11-05                  60            69             9           1.6
----------------------------------------------------------------------
ML-11-05           including                        5.65           2.3
----------------------------------------------------------------------
ML-11-05           including                        5.65           2.3
----------------------------------------------------------------------
- Ml-11-03 intersected zones with up to 2.18 g/T gold Sampling is   
 incomplete for Ml-11-03.
- ML-11-05 includes 11.7 g/T silver        



This initial five hole drill program totalling 750 metres tested mineralization
near surface and laterally along strike. The program successfully outlined
mineralization below surface. The next program will be designed to focus on
identifying higher grade zones of mineralization at depth.


Bruce Kienlen, P.Geol is the Qualified Persons as defined by National Instrument
43-101, assisting in reviewing data for this property.


Please join us at the Vancouver Resource Investment Conference in booth 1034 on
January 22-23 and also at the AMEBC Mineral Exploration Round Up in booth B20,
January 25-26 at the Westin Bayshore Hotel. 


On behalf of Uranium North Resources

Mark Kolebaba, President and CEO 

Forward-Looking Information

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.
Uranium North Resources Corp. (TSXV:UNR)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Uranium North Resources Corp. Charts.
Uranium North Resources Corp. (TSXV:UNR)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Uranium North Resources Corp. Charts.