Northern Uranium Intersects Significant Uranium Mineralization

POSTED ON April 22, 2015 BY Tommy Humphreys
CATEGORY Northern Uranium,

KELOWNA, BC, April 22, 2015 /CNW/ - Northern Uranium Corp. (TSXV : UNO) ("Northern Uranium" or, the "Company") is pleased to provide a progress report on the drilling at its 50% owned North West Manitoba property. The Company is in the process of earning a 70% interest in the project from CanAlaska Uranium Ltd (TSXV:CVV).

Northern Uranium's winter drill program at Maguire Lake continues to intersect a substantial hydrothermal alteration zone, with multiple structures over a 100 metre width and 300 metre strike length characterized by intense clay-hematite alteration. Unconformity style uranium mineralization within the Athabasca basin is associated with these hydrothermal alteration zones.

Within the last month three holes have been completed on the project and drilling is currently underway on a fourth. A map showing the location of these drill holes is available on the Company's web site. The first significant uranium mineralization has been detected in hole MG15DD-0012.

Hole MG15DD-0012

Hole MG15DD-0012 has been through the central portion of a large ground gravity low with IP-resistivity conductive anomalies coincident with anomalous radon in water. The hole was drilled with large HQ core through ice at a bearing of 320 degrees and an inclination of 55 degrees. Bedrock was intersected at 26.1 metres and the hole continues to 350.35 metres. A down hole gamma ray log was completed and revealed highly anomalous responses attributable to uranium mineralization between 164 and 238 metres and again between 285 and 347 metres.

The first anomalous zone from 164 to 238 metres was hosted in sericite and clay altered calc-silicate, massive radioactive clay and radioactive granite bracketed by very strong clay alteration. The highest radioactive anomaly (approximately 55 times background) in this section is attributable to a 33cm silicified breccia with rounded granitic and exotic clasts cutting radioactive granite. This anomalous intersection is present within an extensive regional southwest to northeast trending steeply northwest dipping fault zone.

The second zone anomalous in uranium from 285 to 347 metres ranges to over 65 times background and is attributable to a pegmatitic dyke cutting unaltered pelite to a depth of 311 metres at which point massive unaltered pegmatite was intersected to the end of the anomalous zone at 347 metres.

High grade uranium mineralization could be situated above, below or along strike to the southwest or northeast of the first 164 to 238 metre uraniferous zone of hole MG15DD-0012 which encountered sericite and other clay alteration associated with a regional fault zone.

Hole MG15DD-0013

Hole MG15DD-0013 was collared along the strike of the fault zone 120 metres to the southwest of hole MG15DD-0012. It was drilled at the same 320 degree azimuth and 55 degree inclination and passed directly under vertical drill hole MG15DD-0011. The hole is located within the same 500 by 800 metre gravity low and was designed to test an IP and resistivity conductive anomaly at 100 metres depth and a strongly conductive anomaly at 150 metres depth.

Bedrock consisting of semipelite with pink granitic stringers was intersected at 51.2 metres depth and continued to the end of hole at 215 metres. The hole was ended early due to deteriorating ice conditions at the drill site. A down hole gamma ray log to 211 metres depth returned only weak radioactive spikes at 90 and 150 metres depth. The uranium mineralization intersected 120 metres to the northeast in hole MG15DD-0012 was far stronger. The presence of higher grade mineralization to the northeast is also supported by the recent RadonEx survey which provided infill coverage of this area and returned higher radon in water results to the northeast.

Hole MG15DD-0014

Drilling has now commenced on hole MG15DD-0014, located 120 metres along strike to the northeast from hole MG15DD-0012. This hole is targeting the center of the gravity low which was previously tested by vertical hole MG15DD-0009 which suffered from very poor core recovery and the hole was lost before a down hole gamma ray survey could be completed. In addition hole MG15DD-0014 targets a conductivity anomaly at 100 metres depth as well as the anomalous radon in water results returned from the recent infill RadonEx survey.

Summary

In addition to the very encouraging anomaly presently being drilled at least 4 additional lake targets and 7 additional land targets remain to be tested. These anomalies are based on the results of ground gravity, IP and resistivity surveys, airborne electromagnetic surveys, RadonEx radon in water surveys and AlphaTrack radon on land surveys. All of these targets are up-ice of uraniferous boulders (up to 66% U3O8) discovered in a prospecting program by CanAlaska geologists. To better define these targets an infill radon in water survey by RadonEx Exploration Management has been completed and a ground gravity survey has been completed in the field. The results from these surveys are presently being compiled. A second large diamond drill rig is presently being mobilized to the project to assist with drilling the lake and land targets.

The technical information and results reported here have been reviewed by Chad Ulansky, PGeo, a qualified person under National Instrument 43-101, who is responsible for the technical content of this release.

Forward Looking Statements

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. The Company undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

Neither 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.

For further information: Chad Ulansky, President & CEO, +1-250-448-4110

Tommy Humphreys

Tommy Humphreys, 30, is an entrepreneur, investor and writer from Vancouver, Canada. He founded CEO.CA, a popular junior mining and Canadian finance blog, in 2012. He has been the president of Pacific Website Company Inc., a private marketing and web development company, since 2007. Tommy has authored articles for Globe and Mail, Financial Post and others. He speaks at select conferences. Reach him by email: tommy@ceo.ca. Follow him on Twitter: @TommyHump More →

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Tommy Humphreys

Twitter: @tommyhump

tommyhump@gmail.com

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