November 29, 2007 16:09 ET

UNOR's 2007 Uranium Exploration Season

TORONTO, ONTARIO--(Marketwire - Nov. 29, 2007) - UNOR Inc. (TSX VENTURE:UNI) is pleased to announce the successful completion of its $7.0 million 2007 Nunavut uranium exploration field season. Work completed during the field season included 6,361.7 meters of drilling, 1,037.1 kilometers of ground geophysics and 1,225 samples collected for analysis.

Since October 2003, the Company has invested $27.6 million aggressively and systematically pursuing the development of its Nunavut uranium properties. Under the Joint Technical Committee Agreement with Cameco Corporation, the companies are scheduled to meet next week to generate UNOR's 2008 uranium exploration program. UNOR's 2008 uranium exploration program will focus on drilling existing uranium targets on its Coppermine Property along with developing drill targets for 2009 on the Cameco Lac Rouviere JV and on the UNAD JV properties.

2007 Coppermine Property Highlights:

- The discovery of a new uranium showing named Beep in the northeast area

- The intersection of uranium suspended within the sandstone on the Hot Creek structure (this is the first known intersection of mineralization in the lower Dismal Lakes stratigraphy outside of the immediate area of the Mountain Lake uranium deposit)

- The intersection of multiple, narrow, high grade uranium pitchblende veins during the continued drilling of the Bog zone in the southern panhandle area

- The confirmation of a basement conductor coincident with the surface alteration zone northeast of Bluto lake and continuing to the southeast of the Bog uranium mineralized zone

- Significant vertical offset of the unconformity between the sandstone and basement in the fault zone associated with the Contact East area conductor

To view the key 2008 uranium drill targets go to website

Headings: Properties/Exploration Programs/2008 Key Uranium Drill Targets

2007 Cameco Lac Rouviere JV Property Highlights:

- Fourteen new uranium occurrences were discovered including a one kilometer long series of hot spots in conglomeratic sandstones.

- Two locally generated sub-rounded radioactive sandstone boulders over 10,000 counts per second (cps) radioactivity (against a typical background level of 50 cps) were discovered.

2007 Cameco Baffin Island JV Property Highlights:

- The discovery of a zone of greater than 5,000 cps (against a typical background level of 300 cps) radioactivity in a hot granite located in the central part of the Robertson River block of exploration permits was located.

2007 Coppermine Property Fieldwork:

A total of 6361.7 meters of drilling was completed in 22 drill holes. 419 drill core samples were prepared and the assays are pending.

Seven holes to test the Hot Creek structure were completed. The drilling indicates a vertical displacement of approximately 30 meters across the fault. Uranium mineralization occurs in syndepositional debris flows within the lower portion of the Leroux sandstone. A 6.8 meter intersection in hole HB-07-42 gave readings of up to 2000 cps on the down-hole gamma ray probe over the interval 59.2 - 66.0 meters. In the surface showing, the uranium is associated with hematite indicating deposition under oxidizing conditions; whereas, in the case of the drill intersection, the uranium is associated with pyrite indicating deposition under reducing conditions. An east-west line of Induced Polarization/Resistivity survey was completed over the zone in late August to define drill targets for the 2008 season.

In the Hot Creek zone, a significant number of large sandstone blocks were discovered on the western side of the fault that carried anomalous uranium and copper values similar to the mineralization at the Mountain Lake uranium deposit.

Two holes were drilled to test the most westerly of three basement conductors that define the northern extension of the Contact East zone. Both holes encountered technical problems and did not reach final target depth. They were, however, successful in proving that the vertical fault offset of the unconformity in the target zone exceeds 100 meters and that there is extensive leaching within the sandstone overlying the conductor. A larger drill will be required to adequately test the target in 2008.

Four holes drilled to test the Bog zone for an extension to the southwest and for continuity down dip to the southeast. All four holes encountered uranium mineralization in the basement granitoid. The intersections were generally narrow uranium pitchblende veins associated with quartz/carbonate/jasperoid. All assays are pending but highlights included the following:

Hole No. Interval (m) Width (m) Radioactivity (BBS 2)
-------- ------------ --------- ---------------------
HB-07-50A 55.60 - 56.30 0.70 2700 cps
HB-07-51A 172.50 - 175.20 2.70 5000 cps
198.90 - 199.10 0.20 500 cps
234.30 - 236.60 2.30 350 cps
HB-07-55A 171.20 - 171.60 0.40 6000 cps
HB-07-56B 69.55 - 72.30 2.75 6500 cps
177.90 - 178.50 0.60 1250 cps

A new moving loop time domain electromagnetic array developed by Cameco was deployed this season as a first pass method to detect deep conductors. The crew worked extensively on the major MEGATEM conductor to the north of Sickle Lake that extends for about 20 kilometers under the central part of the basin. At least two of the stronger portions of the conductor (CM 52A and CM 53A) will be drill tested in 2008. The CM 53A basement conductor was confirmed by a line of transient audio magnetotelluric surveying that also indicated an alteration zone in the sandstone immediately above and to the east of the target.

825.5 kilometers of ground geophysics was completed on the property including 274.4 kilometers of deep penetrating electromagnetic surveys and 16 kilometers of IP/ Resistivity surveying.

The five kilometer long MEGATEM anomaly located on claims CM 90, LB 73 and LB 74 to the south of the Bog zone was confirmed by fixed loop time domain electromagnetic surveys. Hole HB-07-53 was drilled to test the conductor on claim CM 90 beneath the area of surface silica-clay alteration to the northeast of Bluto Lake. The hole had to be stopped in altered sandstone short of the unconformity at a depth of 624 meters because of drill limitation. The hole will be completed by a larger drill in 2008.

EMpulse Geophysics Ltd. completed lines of transient audio magnetotelluric surveys across the C2-32 alteration zone and the CM 53A conductor (see above). The C2-32 survey showed a 300 to 500 meter wide zone of alteration in the sandstone coincident with the mapped silica-clay outcrop and related to the southeast bounding fault of the graben.

A three kilometer long horizontal loop electromagnetic conductor was detected on the DM 69 grid that is coincident with a magnetic anomaly defining a fault contact in the basement rocks west of Wolverine Lake. The anomaly was prospected but the conductor is not exposed.

An Induced Polarization/Resistivity survey line with two flanking follow-up lines was completed across the Beep radioactive occurrence that was recently discovered on the CM 78 claim to the north of Mouse River. Uranium mineralization is associated with pyrite in Leroux sandstone similar to that at Hot Creek. The survey detected a 500 to 700 meter wide zone of high resistivity coincident with the showing that is probably caused by silica alteration in the Leroux and underlying Lady Nye sandstone. There is also a broad zone of low resistivity/high chargeability located from about 1200 meters west of the showing that appears to relate to the overlying Fort Confidence shales. It is hypothesized that the Leroux mineralization may be associated with anomalously high graphite content in the hanging wall shales. Both targets will be drill tested in 2008.

34 surface rock samples were collected for assay and 72 surface rock samples were collected for mineralogical studies. Assay results are expected during the first quarter of 2008.

2007 Asiak Property Fieldwork:

35.7 kilometers of ground geophysics was completed to define drill targets on the property.

2007 Cameco Lac Rouviere Joint Venture Property Fieldwork:

Fourteen new radioactive occurrences were discovered on the property during the mapping and prospecting program. Many of the 52 historical occurrences discovered by previous operators were relocated and sampled. The most significant of the new occurrences is a one kilometer long zone of radioactivity in a conglomeratic unit above the unconformity about 12 kilometers southwest of the Mountain Lake deposit. In addition, two sub-rounded boulders of mineralized Leroux sandstone were discovered with a larger boulder (70 cm diameter) running 10,000 cps.

The geological mapping has identified several areas of intense silicification in the sandstone units that will be followed up by prospecting and geophysics in 2008. The largest zone is in the northwest corner of the property in an area of extensive glacial cover.

93.3 kilometers of ground geophysics was completed on the property.

304 surface rock samples were collected for assay and 122 surface rock samples were collected for mineralogical studies. Assay results are expected during the first quarter of 2008.

2007 UNAD Joint Venture Project:

Two additional claims were staked north of the Mountain Lake deposit to cover sheeted quartz/ copper veins that outcrop along the Herb Dixon fault and may be indicators of deep seated uranium mineralization. Prospecting of the claims proceeded in conjunction with the work on the Lac Rouviere project.

2007 Cameco Baffin Island Joint Venture Project:

A three-week evaluation of the exploration permits was completed by two Cameco and two UNOR geologists. The study concentrated on evaluating the alteration and porosity within the basinal sandstones and the nature of the unconformable contact with the basement rocks. A zone of radioactivity running about 5000 cps was discovered in porphyritic granite in the central part of the Robertson River block. Several of the historical showings associated with the hot granites within the Fury-Hecla block were sampled. 206 surface rock samples were collected for assay and 68 surface rock samples were collected for mineralogical studies. Assay results are expected during the first quarter of 2008.

David Bent, Vice-President Exploration, P.Geo., is the Qualified Person for the purpose of NI 43-101 with respect to the technical information in this news release. Uranium sample preparation and analyses are being done by the geoanalytical laboratory of the Saskatchewan Research Council in Saskatoon, Canada.

In June 2006, Cameco Corporation acquired 19.5% of UNOR and has maintained that percentage. The Strategic Alliance and Joint Technical Committee agreements between the companies provides to UNOR ongoing uranium technical knowledge, guidance and exploration opportunities as per the above mentioned joint ventures.

UNOR Inc. with its head office in Toronto, Ontario is a uranium exploration and development company with its principal mineral properties in Nunavut. Nunavut was created April 1999 as a result of the Nunavut Land Claim Agreement and it is the only territory and/or province in Canada that has no outstanding native land claim issues. UNOR's shares trade on the TSX Venture Exchange: UNI and Over-The-Counter in the United States: UNOFF.


Contact Information

  • UNOR Inc.
    George Bell
    President & CEO
    (416) 368-0114
    UNOR Inc.
    Tom Devlin
    Corporate Secretary
    (416) 368-0114