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uranium investing

Northern Uranium Provides Update

Written by Jocelyn Aspa
|
Mar. 03, 2017 08:30AM PST

Northern Uranium (TSXV:UNO) has provided an update on its 70 percent owned North West Manitoba project. As quoted in the press release: The Company can earn up to an 80% interest in the project from CanAlaska Uranium Ltd (TSXV:CVV). At the end of 2015 the Company completed four drill holes at its North West Manitoba …

Northern Uranium (TSXV:UNO) has provided an update on its 70 percent owned North West Manitoba project.
As quoted in the press release:

The Company can earn up to an 80% interest in the project from CanAlaska Uranium Ltd (TSXV:CVV).
At the end of 2015 the Company completed four drill holes at its North West Manitoba project.
South Anomaly Zone
Hole MG15DD-0022 was drilled to determine if the radioactivity within a massive clay alteration zone which peaked at 2,529 cps in hole MG15DD-0021 continues to strengthen to depth.  Hole MG15DD-0021 was drilled at a -45 degree inclination and intersected the massive clay alteration zone between 379.7 and 405.1 metres.  Hole MG15DD-0022 was drilled from the same location at a -60 degree inclination.
After 27.1 metres of overburden hole MG15DD-0022 intersected 65.7 metres of semi pelitic gneiss.  Thereafter calcareous metasediments dominated until 453.7 metres where semi pelitic gneiss and pegmatite were intersected until the end of hole at 532.4m.  The massive clay alteration zone was not intersected, but various slickensides, hydrothermal brecciation with carbonate-gouge matrix and unconsolidated brecciation was observed from 495.8m to 514.0m.  A fracture with strong hematite staining at 223.1m returned a gamma spike in core of 2,462cps.
Hole MG15DD-0024 targeted the same massive clay alteration zone intersected in holes MG15DD-0020 and MG15DD-0021.  Drilled at an inclination of -45 degrees the hole penetrated overburden to a depth of 30.2 metres before intersecting alternating intervals, on the scale of tens of metres, dominated by semi-pelite, pelite and calc-silicate to a depth of 296.9 metres.  Marble was then intersected to a depth of 354.7m followed by 7.4m of pegmatite.  Brecciated and altered marble was then intersected to a depth of 400m followed by intercalated intervals of altered pegmatite, marble and calcite/chlorite veins to a depth of 416.3m.  Unaltered semi-pelitic gneiss was then intersected to the end of hole at 443.2m.  The massive clay altered zone appears to lie from 385.5m to 406.7m and is characterized by clay alteration, decalcification and locally intense silicification.  Minor radioactivity was associated with the clay altered zone with gamma readings of core up to 530 cps.

Click here to read the full press release.

CVV:CA
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