Nyah Resources Provides Exploration Update on the Agnew Lake Uranium Propertiesadmin
Nyah Resources Corp. announce the completion of a 3,500 metre drill program on the Agnew Lake North property as well as further exploration highlights from both Agnew Lake North and South.
– A 3,500 metre diamond drill program, completed on the Agnew Lake North Property, shows the continuation of favourable geology with coincident radiometric scans of up to 3,700 counts per second (cps) at a distance of 560 m west of the known deposit. – Field crews have identified historic showings on the Agnew Lake South Property with preliminary results from radiometric assays indicating up to 12,000 cps on surface.
– Nyah has also completed 62.3 line kilometres of ground geophysics at the Agnew Lake North and South properties including magnetics, VLF-EM as well as IP establishing geophysical targets on strike of known mineralization and historic showings.
Current Exploration Program
Nyah completed Phase III of the 2008 drill program, consisting of 11 holes totalling 3,500 metres of NQ diamond drilling, on the previously drilled Agnew Lake North property. The holes were designed to test the continuation of the known mineralization to the west of the historical resource. Although not 43-101 compliant, the original “proven and probable” geological reserve has been estimated at 5,437,000 tons grading 1.9 lbs U3O8/ton or 10,311,000 pounds U3O8.( Source: Agnew Lake Mines Ltd 1979.) This historical reserve estimate has been presented for information purposes only and should not be relied upon.
Recent drilling confirms the zone is faulted to the south, as indicated by preliminary geological mapping and that the zone strikes in a more northeastly direction, dips steeply south and is offset from the previously mined reef by approximately 100 metres. The zone has been tested to a vertical depth of 212 metres by several shallow drill holes and has intersected mineralized quartz pebble conglomerate in 8 of the 11 holes. Despite poor mineralization in the last two holes, we don’t believe we have reached the cut off of this mineralized zone as the zone likely continues westward but south of the two most western drill collars (NA08-28 and NA08-29). Current wetland conditions make it difficult to test the area to the south at this time. Approximately 300 samples have been submitted to ALS Chemex for assay. Full results including thorium, yttrium and rare earth elements are expected in one month.
Early indications from ground geophysics, including IP Mag and VLF-EM surveys (31.1 line kilometres on the Agnew Lake North grid and 31.2 line kilometres on the Agnew Lake South grid) suggest good targets on strike of known mineralization on both properties.
Drill results from the Phase III program on the Agnew North property are consistent with the historic resource estimates and indicate that mineralization extends to the west. Continuing step-out drilling to the west, more suited to winter drilling, is recommended as well as initial drilling to test targets on the Agnew Lake South property. Planning for metallurgical testing to determine the recoverability of the uranium, thorium and other rare earths elements is currently underway on the Agnew North property.
Nyah Resources Corp. is a Canadian mineral exploration company listed on the TSX Venture exchange under the symbol (CDNX:NRU.V). The Company currently has cash on hand of approximately $1.9 million.
Nyah holds a 100% interest in three separate exploration claim blocks. The Agnew Lake North Uranium Property, which is the most advanced of the Company’s claim blocks, consists of seven unpatented mining claims (1,575 ha equals 3,892 acres) located approximately 40 kilometres west of Sudbury, Ontario. The Property encompasses the past producing Agnew Lake Uranium Mine. The Agnew Lake Uranium Mine was operated by Kerr Addison Mines Ltd between 1977 and early 1983 and produced approximately 1.9 million pounds of uranium. The Property has substantial underground infrastructure in place, including a six compartment shaft to a depth of over 980 metres with development on several levels. A decline from surface to the 1,900 foot level was also developed. During the period of operation 5 mineralized zones were identified of which only zones 3 and 5 were developed. In addition to the past producing uranium mine, the Property covers approximately six kilometres of favourable geology possibly containing uranium-mineralized horizons. In addition, the Company holds two sets of property claim blocks (Agnew Lake South and Quirke North) in the highly prospective Elliot Lake-Blind River uranium district.