Welcome!

News Feed Item

Western Athabasca Syndicate Reports Assay Results From 2014 Diamond Drilling Program

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/22/14 -- Noka Resources Inc. (TSX VENTURE: NX)(FRANKFURT: 2NK) ("Noka") is pleased to report inaugural drill assay results from the Preston Uranium Property (the "Property") being explored by the Western Athabasca Syndicate (the "Syndicate"). Three out of fifteen existing targets received preliminary drill testing this spring, including the Swoosh (7 holes), CHA (1 hole) and FSA (1 hole) targets. The drilling totaled 1902.7 meters over 9 holes.

Preston Uranium Property Map and Regional Exploration Corridors: http://www.nokaresources.com/images/NX_Regional_Corridors.jpg

Highlights:


--  Anomalous radioactivity discovered in the drilling is proximal to EM
    conductors and associated with gravity low anomalies which are the
    result of strong hematite, chlorite and clay alteration of the
    structurally disrupted lithologies; this is consistent with being in a
    mineralization halo and is common to many Athabasca Basin uranium
    deposits
--  The best intercept to-date from the Swoosh area returned 8.82 ppm U and
    360 ppm Th over 0.5 meters in hole PN14003
--  Th/U and Pb isotope ratios, and evidence for deformation/alteration
    suggest that most zones at the Swoosh area have undergone uranium
    depletion and may have at one time hosted significant uranium
    mineralization; as such, directly adjacent targets should be
    investigated for places where the uranium could have been re-deposited
--  The one hole drilled at the FSA target returned 5.84 ppm U over 1.0
    meter and the one hole drilled at the CHA target returned 4.25 ppm U
    over 1.0 meter
--  Loss of circulation near the bottom of the FSA drill hole occurred just
    prior to the geophysical target depth; blue clay encountered at the
    bottom of the hole is likely altered graphite, strongly anomalous in
    silver, and with a relatively high radiometric-sourced Pb isotopic
    signature that warrants further follow up
--  The Syndicate's Technical Team considers these findings in the first
    drill program at Preston to be a breakthrough towards potentially
    identifying economic levels of uranium mineralization at shallow depths;
    further exploration work and drill campaign planning is underway

Drill targets were chosen based on results from a combination of airborne geophysical, geochemical and geological surveys carried out during 2013 and 2014, which were then further refined by ground HLEM and gravity geophysical surveys.

Preston Property - Drill Target Areas: http://nokaresources.com/images/NX_Feb2014_Exploration.jpg

The results from the drilling are very encouraging and confirm the presence of widespread alteration, structural disruption and radioactivity that are typically associated with uranium deposits in the Athabasca Basin. As well as additional testing of the areas targeted with the 2014 first-pass drilling, the Syndicate is also planning further work to better define drill targets at the other twelve target areas defined by fieldwork to date. The majority of uranium targets on the Property have not yet received any drill exploration.

Swoosh Target Assay Results:

Preston Property - Swoosh Target Map: http://www.nokaresources.com/images/NX_Swoosh_Drill_Locations.jpg

Seven widely-spaced drill holes tested two targets (S3 and S6) within the broader Swoosh area, a 6-km long corridor defined by coincident gravity, magnetic and EM geophysical surveys, and surficial geochemical anomalies. Six holes were completed to depths of between 200 and 360 meters downhole, with one hole abandoned due to poor drilling conditions. Overburden depth varies from 4 to 38 meters and immediately overlies basement rock. The five holes completed on the S6 target tested two distinct steep NW-dipping conductor traces associated with a 650 meter by 350 meter gravity low anomaly. Every hole encountered graphite within highly deformed metasediment, orthogneiss and locally pegmatitic lithologies. Portable Infrared Mineral Analyser (PIMA) results confirmed the presence of extensive chlorite and clay alteration, as well as significant illite alteration in the northernmost hole PN14001. This alteration and deformation explains the gravity anomaly at S6 and further confirms the Swoosh area as being the locus of intense hydrothermal alteration which is common to other Athabasca Basin uranium deposits.

The best intercept out of 125 drill core samples collected from holes testing the Swoosh area was from PN14003 which returned 0.5 meters of 8.82 ppm U and 360 ppm Th associated with mixed granodiorite and graphitic mylonite. Analyses of the U to Th ratios, in light of the strong deformational history, suggests that the S6 target has been subject to high degrees of uranium depletion and may have at one time hosted significant uranium mineralization which could have been re-deposited nearby.

CHA Target Assay Results:

The CHA area is located approximately 19 km west of the Swoosh area. A single initial hole, PN14008, drill tested an EM conductor near the hinge of a major fold structure in an area of elevated uranium and radon geochemical anomalies. This hole intersected gneiss and orthogneiss within broad zones of cataclastic deformation. Fault gouge associated with disseminated graphite and strong chlorite, epidote, talc and clay alteration may explain the airborne and HLEM conductors at this zone. Like Swoosh, radioactivity from the first CHA hole is thorium-rich, with the best intercept returning 4.25 ppm U and 62 ppm Th over 1.0 meter.

FSA Target Assay Results:

At the FSA area, located approximately 27 kilometers west of the Swoosh, a single drill hole, PN14009, tested an E-NE trending magnetic low coincident with airborne EM and ground based HLEM conductors that are in part associated with pronounced gravity anomalies. In addition to the geophysical anomalies, this target has outcrop nearby that exhibits structural deformation and returned anomalous uranium values from rock grab samples including one sample that returned 45.7 ppm U. The single drill hole was collared in granodiorite gneiss and then intersected mylonitic pelitic gneiss coincident with intense shearing and chlorite, hematite, silica and clay alteration. The hole was abandoned at 150.3 meters after intersecting a bluish-grey clay-rich lithology at the contact between the overlying orthogneiss and metasediments. The best intercept out of 16 samples returned 5.84 ppm U and 19.5 ppm Th over 1.0 meter. The clay-rich unit returned highly anomalous silver values and a relatively high radiometrically-sourced Pb isotopic signature that warrants further follow up drilling.

The Preston Uranium Property:

The 246,643 hectare Preston Uranium Property is the largest individual property proximal to Fission Uranium Corp.'s Patterson Lake South ("PLS") high-grade uranium discovery and the recent discovery made by NexGen Energy Ltd. on the Rook-1 Project. The Syndicate is the largest land tenure holder in the southwest Athabasca Basin region including properties strategically situated to the southwest and to the northeast of the PLS and NexGen discoveries. Approx. $3,500,000 dollars in exploration has been carried out to date by the Syndicate on the Preston property and many priority targets remain for further follow up with both fieldwork and drill testing.

Management cautions, mineralization present on proximal properties is not necessarily indicative of mineralization on the Syndicate's Property.

About the Western Athabasca Syndicate:

The Western Athabasca Syndicate is a strategic partnership formed between Skyharbour, Athabasca Nuclear, Lucky Strike and Noka to explore and develop a 287,130 hectare suite of uranium properties that is the largest land position along the highly prospective margin of the Western Athabasca Basin controlled by a single group. Under the terms of the agreement, each of the four companies has an option to earn 25% of the five uranium properties comprising the Western Athabasca Syndicate Partnership by making a series of cash payments, share payments, and incurring their pro-rata amount of the total $6,000,000 in exploration expenditures over the two-year earn-in term of the agreement. The properties were acquired for their proximity to the PLS discovery and interpreted favourable geology for the occurrence of PLS style uranium mineralization. The bulk of the Syndicate land package is bisected by all-weather Highway 955 which runs north through the PLS discovery on to the former Cluff Lake uranium mine.

The Athabasca Basin of Saskatchewan hosts the world's largest and richest high-grade uranium deposits which have grades substantially higher than the world average grade of about 0.1% U3O8. The Patterson Lake area has received escalating exploration attention and claim acquisition activity as a result of the new, near surface discoveries made by Fission which includes the recently reported drill interval of 38.49% U3O8 over 10.5 metres in drill hole PLS14-129. Consistent high-grade, near surface U3O8 assays from Fission demonstrate the potential for high-grade uranium mineralization on the geologically prospective yet underexplored margins of the western side of the Athabasca Basin.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Richard Kusmirski, P.Geo., M.Sc., Skyharbour's Head Technical Advisor and a Director, as well as a Qualified Person.

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.

ON BEHALF OF THE BOARD OF DIRECTORS

Nav Dhaliwal, 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.

Contacts:
Noka Resources Inc.
Nav Dhaliwal
President and CEO
(604) 678-5308
nav@nokaresources.com
www.nokaresources.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Information technology (IT) advances are transforming the way we innovate in business, thereby disrupting the old guard and their predictable status-quo. It’s creating global market turbulence. Industries are converging, and new opportunities and threats are emerging, like never before. So, how are savvy chief information officers (CIOs) leading this transition? Back in 2015, the IBM Institute for Business Value conducted a market study that included the findings from over 1,800 CIO interviews ...
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
In today's uber-connected, consumer-centric, cloud-enabled, insights-driven, multi-device, global world, the focus of solutions has shifted from the product that is sold to the person who is buying the product or service. Enterprises have rebranded their business around the consumers of their products. The buyer is the person and the focus is not on the offering. The person is connected through multiple devices, wearables, at home, on the road, and in multiple locations, sometimes simultaneously...
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
China Unicom exhibit at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE FDD, TD-LTE), fixed-line broadband, ICT, data communica...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Zerto exhibited at SYS-CON's 18th International Cloud Expo®, which took place at the Javits Center in New York City, NY, in June 2016. Zerto is committed to keeping enterprise and cloud IT running 24/7 by providing innovative, simple, reliable and scalable business continuity software solutions. Through the Zerto Cloud Continuity Platform™, organizations can seamlessly move and protect virtualized workloads between public, private and hybrid clouds. The company’s flagship product, Zerto Virtual...
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, will present an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He will expound on the industry issues he frequently came up against as an analyst, and...
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often un...
SYS-CON Events announced today that Technologic Systems Inc., an embedded systems solutions company, will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Technologic Systems is an embedded systems company with headquarters in Fountain Hills, Arizona. They have been in business for 32 years, helping more than 8,000 OEM customers and building over a hundred COTS products that have never been discontinued. Technologic Systems’ pr...
SYS-CON Events announced today that IoT Now has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.