Uranium Targets Developed for Summer Work Program at Noka's Carpenter Lake Property, Athabasca Basin Saskatchewan
Vancouver, BC – July 24, 2014: Noka Resources Inc. (TSX-V: NX, FSE: 2NK) (“Noka”) is pleased to announce that the summer exploration program has commenced on its Carpenter Lake Project (“Carpenter Lake”, or the “Property”) in Northern Saskatchewan, Canada. The Property is under an Option Agreement with Alpha Exploration Inc. (TSX-V: AEX) (“Alpha”) whereas Alpha may earn a 60% interest in the Property. Details of the Agreement are on Noka’s website. Alpha is the Operator for exploration at Carpenter Lake.
Carpenter Lake lies approximately 85 km west of the past-producing Key Lake uranium mine along the Cable Bay shear zone, straddling the south-central rim of the Athabasca Basin and comprises a total of 20,637 hectares within five contiguous mineral dispositions.
A detailed, low-altitude, airborne gamma spectrometer survey has just been completed over the property by Goldak Airborne Surveys (the “Goldak Survey”). The Goldak Survey has outlined several areas within the Property that show radioactive anomalies attributed to uranium.
A prospecting program has commenced at Carpenter Lake, to follow up on the results of the Goldak Survey, and previously flown V-TEM and magnetometer surveys. Detailed radon-in-soil and soil geochemical surveys will also be done, to enhance targets established from geochemical surveys conducted during the recently completed 2014 winter program (see Noka’s news release dated May 21, 2014).
The radon-in-water and lake sediment uranium anomalies identified in the winter 2014 surveys are important indicators for locating potential buried uranium mineralization or uranium boulder fields in a “down-ice” direction from potential bedrock sources of uranium. Overall, field-work this summer will focus on those areas with the strongest integration of airborne radiometric anomalies, geochemical anomalies and the location of cross-cutting features on regional conductors, as defined by the recent airborne VTEM survey.
About Noka Resources Inc.:
Noka Resources Inc. is a junior exploration company with a focus on uranium in the prolific Athabasca Basin of Northern Saskatchewan. Noka’s exploration strategy is focused in relatively underexplored areas of the Athabasca Basin Region, targeting favourable geology and structure amenable to near surface, unconformity-style uranium mineralization.
With a total prospective land position of 493,236 hectares, Noka holds one of the largest geologically prospective land packages in the region through a 100% interest in the Clearwater (which includes the Carpenter Lake) and Athabasca North group of properties, an option to earn 100% interest in the Lodge Pole Point Project, as well as a 25% interest in the Western Athabasca Syndicate group of properties.
For further information, please contact Nav Dhaliwal, President, at [email protected] or visit www.nokaresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
President and CEO
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This press release contains "forward-looking information" that is based on Noka’s current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Noka’s exploration and development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Noka’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Noka disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.