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Amer Lake - Main Zone

Uranium North Resources Corp. has a 100% interest in the Amer Lake Property located 145 kilometres north of Baker Lake, Nunavut. Metasedimentary rocks of the Paleoproterozoic Amer Group hosts the Main Zone uranium deposit and a number of other uranium showings. The property is comprised 24 contiguous claims totalling 60,689 acres

The Main Zone, one of three target areas on the Amer Lake property, was drilled by Aquitaine and Cominco in the late 1960's to late 1970's. More than 6,000 metres of drilling delineated a historical resource (non compliant with NI 43-101) of 6.7 million pounds of uranium at an average grade of 0.07%. The mineralized zone was tested to a depth of about 100 metres and remains open at depth and along strike in all directions.

After completing a comprehensive and detailed review of historic data for the Amer Lake Property, ten prospects were selected for surface exploration in 2007 and 2008. Work completed over the past two years by Uranium North included an extensive airborne magnetic and radiometric survey, rock and soil sampling, geological mapping, and reverse circulation drilling and is summarized below.

Summary of Exploration

A laterally extensive (more than 25 kilometres) shallow south-dipping (20-40°) sequence of sandstones, siltstones and minor dolostones of the Paleoproterozoic Amer Group underlies much of the property and is host to the Main Zone uranium deposit and a number of other uranium showings. In the deposit, uranium mineralization is stratigraphically controlled and occurs in a series of thin beds over a stratigraphic interval of 250 metres and a strike length of 1500 metres. Assay values range from 0.5 -- 1.5% U3O8 over 0.2 metre thicknesses enclosed in greater thicknesses of 1.5 -- 2.0 metres with up to 0.17% U3O8. The Amer Lake deposit appears to be a sandstone-hosted uranium deposit with possible localized higher grade, structurally controlled uranium mineralization.

Amer Lake Main Zone
Geology and Target Map

click to enlarge
Part of the 3,150 line kilometre airborne magnetic and radiometric survey completed by Terraquest Limited in 2007, at a line spacing of 200 metres, covers the Amer Main Zone area. The 1.5 kilometre long Main Zone is located on the western margin of a much larger 7.5 x 5 kilometre airborne uranium anomaly. This anomaly indicates the potential to expand the extent of the mineralization at the Main Zone deposit and Faucon prospect. In addition, the data in this zone identifies several new areas for prospecting and possible drill testing. Of particular interest, are the possible bedrock source targets for historic boulders with values in the magnitude of 1.9, 1.8, 5.4 and 8.8% U3O8.

Amer Lake Main Zone Geology
and Target Map

click to enlarge

A total of 37 grab samples collected in 2007 within the anomalous area returned U3O8 values ranging from 0.07% to 3.57% (average of 0.60%). Samples with anomalously high uranium have been collected as far as seven kilometres east of the Main Zone. Elevated contents of lead, and on occasion silver, copper and molybdenum are associated with elevated uranium values.

2007 Sample Results Central Zone

Sample

%U308

Sample

%U308

Sample

%U308

O-825

3.572

B-822

0.684

B-831

0.355

B-835

1.698

O-531

0.516

O-828

0.317

B-529

1.497

O-533

0.493

O-833

0.239

O-534

1.321

O-532

0.488

B-525

0.217

B-821

0.936

B-819

0.488

O-824

0.211

B-838

0.829

B-830

0.483

B-526

0.197

B-834

0.827

B-836

0.468

B-520

0.195

B-527

0.809

B-818

0.437

O-823

0.179

B-522

0.785

B-301

0.435

O-820

0.133

B-523

0.717

B-535

0.416

B-826

0.13

B-528

0.698

B-829

0.407

O-530

0.098

B-832

0.69

B-524

0.36

B-837

0.075

 

 

 

 

O-536

0.07


2008 Drill Program

A total of 1,763 metres of Reverse Circulation drilling were completed in 2008 in sixteen holes. All holes were drilled vertically. Several holes completed in the area of the Main Zone deposit intersected uranium mineralization to the south of and along strike of the deposit.

RC hole UNR-15, drilled 550 metres south of the Main Zone deposit, intersected two mineralized horizons between 115 and 131 metres depth, including a 1.52 metre horizon grading 0.292% U3O8 and a second 4.56 metre horizon grading 0.075% U3O8. This hole demonstrates the potential to significantly increase the size of the Main Zone to the south and verifies the presence of higher grade uranium zones.

RC hole UNR-5 was drilled approximately 90 metres south and 270 metres west of the deposit. UNR-5 intersected two mineralized horizons within 22 metres of surface including a 1.52 metre zone grading at 0.10% U3O8.

RC hole UNR-4, drilled 225 metres south of the deposit, intersected multiple mineralized horizons between 15 and 71 metres of surface. Mineralized horizons range from 1.52 -- 4.56 metres grading 0.014 to 0.047% U3O8 (see table below).

RC hole UNR-21, drilled 50 metres south of the deposit, intersected multiple mineralized horizons between 75 and 125 metres depth. Mineralized horizons range from 1.52 -- 3.04 metres grading 0.017 to 0.048 U3O8.

2008 RC Drill Results

Drill hole

From (m)

To (m)

Interval (m)

% U3O8

lbs/ton

UNR-15

115.52

117.04

1.52

0.292

5.84

 

126.16

130.72

4.56

0.075

1.5

including

129.2

130.72

1.52

0.203

4.06

UNR-5

1.52

4.56

3.04

0.022

0.44

 

19.76

21.28

1.52

0.106

2.12

UNR-4

15.2

18.24

3.04

0.014

0.28

 

27.36

30.4

3.04

0.018

0.36

 

33.44

34.96

1.52

0.015

0.30

 

38

42.56

4.56

0.027

0.54

 

53.2

54.72

1.52

0.047

0.94

 

69.92

71.44

1.52

0.012

0.24

UNR-21

74.48

77.52

3.04

0.032

0.64

 

86.64

89.68

3.04

0.017

0.34

 

100.32

101.84

1.52

0.048

0.96

 

115.52

118.56

3.04

0.022

0.44

 

123.12

124.65

1.53

0.021

0.42


An additional two RC holes, UNR-2B and UNR-3 were drilled 200 to 300 metres directly west of the Main Zone and a northwest-trending fault, which appears to have offset the mineralization to the south. These two holes were collared in rocks which typically underlie rocks that host the mineralization in the deposit. An additional hole, UNR-12 drilled 650 metres west of the Main Zone and 350 metres west of UNR-5 was lost at 9 metres depth.

Deposit Size 11-17 million lbs U308

an evaluation of historic and 2008 drill hole data on the Amer Lake Main Zone uranium deposit in Nunavut demonstrating a minimum target of 11.5 to 17.5 million pounds from 6,200,000 tonnes at 0.084% U3O8 to 13,400,000 tonnes at 0.06% U3O8 respectively. The deposit extends from surface to a depth of 140 metres. Infill drilling in 2009 has the potential to greatly increase the size of the deposit and will provide the basis for the preparation of a National Instrument 43-101 compliant resource.

Drilling in 2009 will be focused in and around the deposit area. The program will include infill drilling to reduce the drill spacing and further test continuity of the mineralization within the historic deposit and towards drill hole UNR-15 which intersected uranium mineralization 550 metres to the south. Expansion drilling southwest, south and east of the deposit will be conducted. This work will be the basis for preparing a National Instrument 43-101 resource for the deposit possibly greater than the historic 6.7 million pounds.

Amer Lake Drill Map

click to enlarge
2009 Drill Program

Phase 1 Drill Program

The in-fill drilling program has been completed. A total of 1216 metres in 10 reverse circulation (RC) drill holes were completed to test continuity of the uranium mineralization within the Main Zone deposit. Based on scintillometer (RS-120 Super Gamma Scintillometer) readings, anomalous radioactivity has been intersected in all of the drill holes, providing indications for continuity of mineralization between drill holes within the Main Zone.

A total of 586 RC samples will be assayed at the Saskatchewan Research Council (SRC) Geoanalytical Laboratories. Assay results are pending.

The Company is currently preparing for the Phase 2 drill program, designed to test for continuation of uranium mineralization down dip and along strike of the deposit.

Amer Lake Target
11-17 Million Pound

click to enlarge
Historical Resource Estimate

Ore resource/reserve calculations for the Main Zone of the Amer Lake property are referenced in a Cominco Property Evaluation and Work Proposal. Aquitaine first estimated the Main Zone to contain a resource of 3.7 million short tons of ore @ 0.10% U3O8 for a total of 7.4 million pounds of U3O8. This resource was based on 28 drill holes, totalling 6,285 metres, drilled at 200 metre centres with some 100 metre holes, over a stratigraphic interval of 200 metres and a strike length of 1500 metres. They estimated the resource to be comprised of 1.7 million tons open pit and 2.0 million tons underground. The underground resource is open down dip for the full 1500 meter strike length and at depths of 50 to 200 meters.

Cominco recalculated the resource based on the same 28 drill holes completed by Aquitaine because of uncertainties in several aspects (correlation, mining widths, dilution allowance, pillar allowance) of the Aquitaine resource number. Cominco's estimate was restricted to three mineralized horizons with the best apparent correlation, within 3 shallowly dipping (20-40o) stratiform layers. Cominco's reserve calculation of 4.3 million metric tons @ 0.07% U3O8 (6.7 million lbs U3O8) involved cutting high assays to an arbitrary 0.3% U3O8. The cutting of assays to 0.3% U3O8 (8 of 184 assays used in the reserve calculation) reduced the overall grade by 0.01% U3O8. Cominco's calculation assumed a minimum mining width of 1.8 metres, a cut-off grade of 0.05% U3O8, a 15% (zero grade) dilution and a specific gravity of 2.7 gm/cc. Reserve blocks ranged in length from 100 to 250 metres and slope distance from 75 to 210 metres.

Based on the similarity of grades in the three reserve beds, Cominco concluded that there is little possibility for the overall average grade of the Main Zone to improve. However, there are a number of possibilities for significantly adding to the size of the current deposit. The three reserve beds are open down dip and along strike, and based on surface sampling, there is a good possibility for additional mineralized beds stratigraphically above the known beds.

These historical estimates give an indication of the tenor of the Deposit. Neither estimate is considered acceptable under the guidelines and definitions established by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) as adopted by the CIM Council August 20, 2000.
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This page was created on Wed Sep 8, 2010 at 9:27:57 PM Pacific Time.