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The 100% owned Yathkyed property shows significant uranium potential with several uranium prospects including a trench sample of 1.9% U3O8. Yathkyed is situated in Nunavut within 20 kilometres of a historic resource reported to contain 10- 20 million lbs U3O8.
A recent airborne radiometric and magnetic geophysical survey over the property has detected 56 uranium anomalies. The two most significant anomalies from the survey are at least three times more intense than the other anomalies in the region.
The northern most anomaly is located within 500 metres of three historic uranium prospects discovered in the 1970s. Trenching at these prospects returned 1.9% U3O8 and 0.46% Cu over 1.2 metres and, 0.28% U3O8 over 0.6 metres and 0.85% Cu respectively. In addition, a grab sample assayed 0.38% U3O8 and 0.16% Cu. This intense airborne anomaly does not appear to be coincident with these known high grade occurrences and may represent a more intense part of a larger overall zone of uranium mineralization that spans several hundred metres. The northern anomaly appears to be associated with north-south and east-west trending structures and is accompanied by multiple less intense uranium anomalies.
A second anomaly with similar intensity located 6 kilometres to the south also falls along north--south and east--west trending structures and is accompanied by multiple weaker anomalies. A historical grab sample collected near the airborne anomaly yielded 0.16% U3O8.
Exploration work in the Yathkyed area was conducted between 1975 and 1981 primarily by Urangesellschaft Canada Limited, Noranda Exploration Company Ltd. and Pan Ocean Oil Ltd. Their work focused on the unconformity between the Early Proterozoic supracrustal rocks of the Baker Lake Basin with the underlying Archean basement rocks. Exploration work resulted in the discovery of numerous uranium showings hosted within the supracrustal rocks and basement rocks, and one uranium deposit, the Lac Cinquante Uranium Deposit, which is hosted within the Archean basement rocks.
Uranium North acquired the Yathkyed Property which is strategically located close to the La Cinquante Uranium deposit which is reported to contain a historic resource of 11.6 million pounds of uranium oxide with grades averaging 1.03% U3O8.
The Yathkyed property in an area with a known historic deposit, has the highest airborne uranium anomalies in the region and contains high grade bedrock sources of uranium, making it a high quality exploration target.
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