Northern Continental Resources Inc.
TSX VENTURE : NCR
January 09, 2009 10:00 ET
Northern Continental Announces 2009 Winter Exploration Plans at Russell Lake
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 9, 2009) - Northern Continental Resources Inc. (TSX VENTURE:NCR) announced today a 2009 winter exploration program of geophysical surveying and diamond drilling at the Russell Lake Uranium Project, located in the Athabasca Basin of northern Saskatchewan, Canada. The work is expected to begin by the third week of January 2009.
Russell Lake is a joint venture between Northern Continental and Hathor Exploration Ltd., in which Northern Continental holds a 60% interest and Hathor holds a 40% interest. Hathor is currently the operator of the Project. Russell Lake lies within the Key Lake-McArthur River corridor, one of the most prolific high-grade uranium mining districts in the world.
2009 Winter Exploration Program
- Ground geophysical work, consisting of electromagnetic ("EM") and gravity surveys, is planned for the Grayling West, Taylor Bay, and Fox Lake Trail target areas;
- Diamond drilling of up to approximately 2,500 metres is planned for Grayling West and Taylor Bay to test conductors outlined from previous surveys, and any new targets generated by 2009 surveys. Drill targets located on lake ice or swampy areas not accessible in summer have first priority during the winter season.
A follow-up EM survey totaling 33.6 line kilometres is planned to the north and south of the 2008 Grayling West grid to confirm potential extensions of the GW-1 conductor. The GW-1 conductor was found in September 2008, and at that time the ground survey coverage was inhibited by lakes. Diamond drilling is planned to test the conductor for the first time following the integration of the 2009 EM survey results with the results of previous ground geophysical surveys. The newly-identified GW-1 conductor represents a high-priority target area adjacent to the mineralized Grayling Zone.
Gravity surveys are planned to search for areas of prospective structure and alteration to the south of the GW-1 conductor and along an untested 12 kilometre-long magnetic low trending to the southwest.
A follow-up EM survey totaling 21.6 line kilometres is planned to detail a possible northeastern extension of the TB-1 conductor. Drilling from the ice at Taylor Bay in the winter of 2008 confirmed the presence of the TB-1 conductor, which showed anomalous uranium within graphitic basement rocks in hole TB-08-05 (see Northern Continental's news release, April 1, 2008). Follow-up drilling is planned after the interpretation of the 2009 survey results.
Fox Lake Trail
An extensive gravity survey is planned to better understand the geological structure and alteration patterns in the Fox Lake Trail area. Integration of this data with previous EM and resistivity surveys will assist in prioritizing future drill targets.
The technical information in this news release regarding the Russell Lake Uranium Project has been reviewed by Don Simmons, P.Geol. Vice-President, Exploration, a qualified person as defined by National Instrument 43-101.
For more information about Northern Continental and the Russell Lake Uranium Project, visit our website at www.northerncontinental.ca.
NORTHERN CONTINENTAL RESOURCES INC.
Warren Stanyer, President & CEO
Forward Looking Statements
This news release contains "forward-looking statements" that are based on Northern Continental's current expectations, estimates, forecasts and projections. These forward-looking statements include statements regarding Northern Continental's outlook for our future operations, plans and timing for the commencement or advancement of exploration activities on our properties, and other expectations, intention and plans that are not historical fact. The words "estimates", "projects", "expects", "intends", "believes", "plans", or their negatives or other comparable words and phrases are intended to identify forward-looking statements. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Many of these factors are beyond the control of Northern Continental. Consequently, all forward-looking statements made in this news release are qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by Northern Continental will be realized. For the reasons set forth above, investors should not place undue reliance on such forward-looking statements. Northern Continental disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
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