Northern Uranium (TSX:UNO) provided an update on progress at its 50 percent owned North West Manitoba property. CanAlaska Uranium also owns a 50 percent interest in the property, although Northern Uranium is currently earning a 70 percent interest and has the ability to earn up to an 80 percent interest in the property.
Northern Uranium (TSX:UNO) provided an update on progress at its 50 percent owned North West Manitoba property. CanAlaska Uranium (TSX:CVV) also owns a 50 percent interest in the property, although Northern Uranium is currently earning a 70 percent interest and has the ability to earn up to an 80 percent interest in the property.
Most recently, the company reported that drill hole MG15DD-009 has returned encouraging results.
As quoted in the press release:
Core from the four most recent diamond drill holes (MG14DD-0007, MG15DD-0008, MG15DD-0009 and MG15DD-0010) at Maguire Lake have been inspected by Dr. Karl Schimann V.P. Exploration for CanAlaska Uranium Ltd. Dr. Schimann reports that the alteration occurring in these holes show alteration patterns similar to those associated with unconformity style uranium deposits, but, in particular, vertical drill hole MG15DD-009 has intersected “an intense hydrothermal (alteration) system” suggesting that uranium mineralization may occur in close vicinity. Dr. Schimann continues “the alteration is very impressive by its length (in the hole) and its intensity” and is “typical of the alteration associated with an unconformity uranium deposit.”
Further explaining results from the drill hole, the company’s release stated:
Beneath 20.5 meters of water vertical hole MG15DD-0009 penetrated 14.7 meters of overburden before intersecting bedrock. Dr. Schimann states that “the alteration starts near surface and increases in intensity and quality down hole.” Unfortunately as the rock became ever more altered the core recovery diminished. From a depth of 135 meters to the end of hole at 174 meters virtually no core was recovered.
Geologists associated with Northern Uranium are most excited by this hole as it was designed to test a large (500m x 800m) intense low (1.5mgal) gravity anomaly, coincident with a conductivity anomaly and associated with anomalous results from the RadonEx radon in water survey. Furthermore, prospecting has located boulders down ice from this anomaly which have assayed up to 66% uranium.