Western Athabasca Syndicate discovers additional Radon Anomalies at the Preston Lake Uranium Property
November 27, 2013 - Vancouver, British Columbia - Noka Resources Inc. (the “Company” or “Noka”) (TSX-V: NX FSE: 2NK) is pleased to announce additional results from the 2013 radon sampling program at its Preston Lake Property (the “Property”). Many of the radon anomalies fall within prospective exploration corridors delineated through extensive summer airborne geophysics and ground evaluation. Radon survey results were instrumental in identifying first pass drill targets at the nearby Patterson Lake South (“PLS”) discovery as well as the recent discovery of the R600W Zone, which is on trend with the western portion of the Preston Lake Property (see Fission Uranium’s News Releases dated May 6, 2013 and November 4, 2013). The 246,643 hectare Preston Lake Property is the largest land package proximal to Alpha Minerals Inc. and Fission Uranium Corp.’s PLS high-grade uranium discovery. The Western Athabasca Syndicate (the “Syndicate”) holds title to the Property and consists of Noka, Athabasca Nuclear Corp. (TSX-V: ASC), Skyharbour Resources Ltd., (TSX-V: SYH) and Lucky Strike Resources Ltd. (TSX-V: LKY).
Preston Lake Property Map:
- Additional distinct clusters of radon anomalies have been identified coincident with the previously identified high potential exploration corridors.
- Clusters of elevated radon anomalies overlying basement conductors is a key signature at PLS that helped vector in on most of the high-grade discovery zones.
- Discovery of two distinct radon-in-water anomalies over Lloyd Lake that are coincident with strong conductive trends within previously outlined exploration corridors, in addition to a distinct cluster over a new area termed ‘South FIN’.
- Final preparations for additional radon and ground geophysical surveys to refine drill targets are underway.
A total of 95 radon-in-water samples were collected during the October work program to augment the 291 samples collected earlier in the year. Sample targets include both regional reconnaissance areas, high-priority targets and exploration corridors identified by the Syndicate’s Technical Committee, and areas of anomalous radon identified by earlier work. The samples were analyzed for radon in the field by Terralogic Exploration Inc. using a Pylon AB5 Series Portable Radiation Monitor which provides real time analysis of radon levels in both water and soil.
The survey was successful in identifying a number of additional radon-in-water anomalies occurring both as clusters and as discrete points. Of particular interest are the two sets of anomalies located on the central and southern arms of Lloyd Lake that are coincident with previously identified conductor trends within a high potential exploration corridor. The Lloyd Lake setting is similar to that of the Patterson Lake area, host to the recent PLS high-grade uranium discovery, and will be a priority area for diamond drill target delineation this winter.
In addition, a new target area termed ‘South FIN’ was delineated following the discovery of a distinct radon-in-water cluster coincident with a strong conductor axis and associated structure. This target is also coincident with the merger of two well defined high potential exploration corridors.
Management cautions, mineralization present on proximal properties (or ‘corridors’) is not necessarily indicative of mineralization on the Syndicate’s Property.
Preston Lake Property Radon in Water Map:
Final data integration is nearly complete with ground radon and gravity survey contracts nearly secured. The ground surveys, for final drill targeting, are anticipated to commence before the New Year.
About Radon Surveys:
Radon geochemistry of lake-bottom water, sediment, and ground is a well-known exploration tool in the Athabasca Basin of Northern Saskatchewan. Radon distribution around a body of uranium mineralization occurs primarily due to groundwater circulation and associated structural conduits, and develops subsequent to the formation of a uranium deposit making it a strong indicator for the presence of shallow uranium mineralization. Radon anomalies coincident with basement conductors and associated structure are primary drill targets.
Athabasca Nuclear President and CEO, Charles C. (Chuck) Downie, P.Geo., is the Qualified Person as defined by National Instrument 43-101 and has approved the technical information in this release.
About Noka Resources Inc.:
Noka Resources Inc. is a junior exploration company with a focus on uranium in the prolific Athabasca Basin, 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 land position of 488,463 hectares, Noka holds one of the largest geologically prospective land packages in the region through a 100% interest in the Clearwater and Athabasca North group of properties, 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
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.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.