Kelowna, Canada — 24th August 2015 — Northern Uranium Corp. (TSXV:UNO) (“Northern Uranium” or, the “Company”) is pleased to provide a progress report on its 50% owned North West Manitoba project. The Company can earn up to an 80% interest in the project from CanAlaska Uranium Ltd (TSXV:CVV).
Since the news release of July 2, 2015 which reported high gamma radiation results in hole MG15DD-0016 two holes have been completed into the northern (550 by 850 metre) zone of anomalous gravity, resistivity and AlphaTrack radon cups on land. Three additional drill holes have been completed into the southern (400 by 900 metre) zone of anomalous gravity, resistivity and RadonEx radon in water. Two drills are currently working on the project with one testing the southern anomaly and the second testing a separate eastern anomalous zone of gravity, resistivity and RadonEx radon in water target measuring 300 by 600 metres.
North Anomaly Zone
Drill holes MG15DD-0017 and MG15DD-0019 tested four strongly anomalous (716 to 1024 tracks per mm2) radon cup results on land at the western edge of the large 550 by 850 metre northern gravity-resistivity anomaly. Both holes intersected only moderate down hole gamma radiation results of 388 to 754 counts per second (“cps”) over a background of 60 to 80 cps. Natural gamma radiation was measured within the drill rods using a down hole GV501 winch and natural gamma ray sonde manufactured by GeoVista.
Three of the four anomalous radon cup results appear to be explained by the intersection of radioactive pegmatite logged in the core holes. The fourth anomalous radon cup result could either be related to radioactive material (boulders?) within the 50 metre thick overburden or due to a fault zone which concentrates radon gas flow from depth. The drill results do not support any additional work to be completed on the western edge of this zone; however, the remainder of the anomaly remains to be tested. As can be seen in Figure 1 the large North gravity anomaly with associated resistivity anomaly is comparable to that of the South Anomaly where these geophysical expressions are a result of multiple fault controlled clay zones.
South Anomaly Zone
Hole MG15DD-0018 was drilled at a -45 degree inclination directly under holes MG15DD-0014 and MG15DD-0009. The hole was drilled to test the depth extent and uranium content of the favourable brick red hematitic clay zone intersected between 124.0 and 165.8 metres in hole MG15DD-0014 and from 120.8 metres to the end of hole at 174.0 metres in MG15DD-0009.
The favourable hematitic clay zone was intersected between 314.1 and 360.6 metres by hole MG15DD-0018 approximately 120 metres vertically below the intersections in MG15DD-0009 and MG15DD-0014. The down hole gamma probe measured up to 653 cps which was higher than the shallower holes (MG15DD-0014 had a maximum of 457cps in the clay zone).
Figure 1. Recent Drilling on Ground Gravity Results
Although hole MG15DD-0018 demonstrates that the clay zone is widening and the radioactive content increasing to depth the down hole gamma results were still substantially lower than those intersected 60 metres and 120 metres along strike to the northeast in holes MG15DD-0016 (1,144 cps) and MG15DD-0012 (1,375 cps) respectively.
Consequently hole MG15DD-0020 was drilled at a -45 degree inclination between, and parallel to, holes MG15DD-0016 and MG15DD-0012. Technical difficulties prevented the hole from reaching target depth, but it did intersect the hematitic clay zone from 356.0 to 374.5 metres. The gamma probe returned up to 1,085 cps within the hematitic clay zone.
As the maximum gamma probe result in hole MG15DD-0020 was less than that in hole MG15DD-0012 a hole was drilled to test the mineralization at depth below MG15DD-0012. MG15DD-0021 was drilled at a -45 degree inclination to 505.1 metres and intersected the favourable hematitic clay zone approximately 100 metres deeper than hole MG15DD-0012. This massive locally brick red hematitic clay and altered pegmatite breccia was encountered between 379.7 and 405.1 metres and returned a maximum down hole gamma probe reading of 2,529 cps. In addition a new radioactive zone at 219.6 metres associated with a blood red hematized fracture in a calc silicate unit returned a gamma probe reading of 2,139 cps.
Hole MG15DD-0021 clearly demonstrated the increasing radioactivity to depth. Hole MG15DD-0022 is presently being drilled from the same location at a -60 degree inclination beneath hole MG15DD-0021. This hole will determine if the radioactive zones which peaked at 2,139 and 2,529 cps in hole MG15DD-0021 continue to strengthen to depth.
East Anomaly
The second core drill has now received an upgraded more powerful engine to enhance its capabilities. It is presently testing the eastern anomalous zone which features a gravity low with a co-located resistivity low at 100 and 150 metres depth under an area of Maguire Lake that contained the highest RadonEx radon in water results to date. This hole, being drilled at a -45 degree inclination towards the southeast, is expected to encounter challenging boulder-rich overburden to a depth of approximately 100 metres.
Conclusion
Northern Uranium is pleased with the increasing strength of the radioactivity being detected both at depth and toward the southeast within the South Anomaly. The Company looks forward to not only the results of the hole testing the mineralization to depth within this zone but also the results of the hole testing the Eastern zone with the extremely high radon in water results.
The technical information and results reported here have been compiled by consulting geologist Dr. Charles Fipke and reviewed by Chad Ulansky, PGeo, a qualified person under National Instrument 43-101, who is responsible for the technical content of this release.
For Further Information:
Chad Ulansky, President & CEO, +1-250-448-4110
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.
