With a cut-off grade of 0.01% U3O8, the site has inferred mineral resource of 22,948,000 tons averaging 0.041% U3O8, containing 20.9 million pounds U3O8.
Uranium North Resource president Mark Kolebaba said, "the Main Zone uranium deposit remains open to the south and to the west. We are optimistic that as we continue to drill along the Main Zone deposit and similar mineralized zones to the east and west of the Main Zone, the Amer Resource will continue to grow."
Canada-based GeoVector Management has prepared the Amer mineral resource estimate basing on 62 diamond and reverse circulation (RC) drill hole assays including 16 RC holes for 2,285m completed in 2011.
Using 1.5m composites of the assay values, with zero grade inserted into intervals that were not sampled, the mineral resource was estimated and a total of 2,230 assay values have been collected through 2011.
Mineral resources were segmented into 8 stratabound mineralized horizons, which were wireframed in Gemcom GEMS 6.3 software using a minimum width of 1.50m, after which they were then intersected with a block model to arrive at mineralized zone volumes.
The Amer Lake property is located 145km north of Baker Lake, adjacent to Arevas’ Kiggavik deposit which is scheduled to commence production in 2015.
