Uranium North Resources Corp. (TSX VENTURE:UNR) announces results from its first phase 2010 exploration program on the Mallery Stockwork.
Samples collected from the Mallery Stockwork have identified and confirmed several zones with high grade gold and silver. At least three high priority drill target areas have been identified. The Mallery Stockwork is located on the Mallery Lake Property in Nunavut.
Of the 31 grab sample assays received to date from the Mallery Stockwork, 16 samples assayed between 0.854 g/T Au and 54.2 g/T Au, only three samples contain less than 0.100 g/T Au. The sample containing 54.2 g/T Au also contains 272 g/T Ag.
"These initial results have identified 3 priority target areas with high gold and silver assays that are candidates for follow up drilling. The sampling has confirmed the presence of mineralized zones exposed intermittently over 700 metres laterally. This supports the potential for Mallery to host an extensive high grade gold and silver system," says Mark Kolebaba, President and CEO of the company.
Results for an additional 77 rock and over 200 soil samples are pending for the Mallery property.
Detailed Descriptions of Drill Target Areas
The Mallery Stockwork comprises gold and silver bearing quartz veins. The stockwork is exposed in three areas, a North Central, an Eastern, and a Western zone. All surrounding areas are thinly covered by overburden therefore mineralization remains open in all directions. Initial results from the 2010 sampling program have outlined drill target areas in all three zones.
At the North Central Zone, gold and silver bearing quartz veins occur over an exposed area of 150 by 200 metres before going under overburden. Historical values range from under 1 g/T Au to 5.55 g/T Au. Sampling in 2010 has identified new quartz veins on the west side of the zone one of which, a 0.15 metre vein, assayed 33.7 g/T Au and 27.3 g/T Ag. This is of particular interest as it may indicate increased gold and silver content westward from this showing.
Rock samples from the Eastern Zone highlight an area with high gold and silver assays up to 54.2 g/T Au and 272 g/T Ag. In addition, several discrete areas with angular gold bearing quartz boulders occur intermittently over 30 metres. The Eastern Zone is 250 metres east of the North Central Zone.
Rock samples from the Western Zone yield high gold and silver values up to 8.6 g/T Au and 6.7 g/T Ag from a 2.9 metre wide quartz vein. A second vein assayed 2.91 g/T Au and 10.7 g/T Ag. The second vein is of note as it appears to contain gold and silver at a ratio of 1:4 as observed at the Eastern Zone which is currently the highest priority drill target on the property. The Western zone is located 300 metres southwest of the North Central Zone and 700 metres west of the Eastern Zone.
Source: Uranium North Resources Corp.