Adriana Resources Inc.: High Grade Uranium Mineralization Confirmed on the UNAD Joint Venture Project in the Hornby Bay Basin, Nunavutadmin
Adriana Resources Inc. (TSX VENTURE:ADI – News; “Adriana”) and UNOR Inc. (TSX VENTURE:UNI – News; “UNOR”) are pleased to announce the completion of their summer field program on the UNAD Joint Venture (“UNAD JV”). Highlights from the program include a subcrop sample collected from the Tabb Lake area that returned 7.281% U3O8, confirming anomalous uranium mineralization reported by previous operators.
During the summer of 2006, Adriana and UNOR (the “Companies”) carried out reconnaissance work, staked claims, and contracted approximately 625 line-kilometers of airborne geophysical surveys on their recently expanded UNAD JV properties.
During previous reconnaissance work by UNOR in the Tabb Lake area, two highly anomalous samples were taken from the Tabb Lake North and Tabb Lake South outcrops. The samples consisted of pitchblende veins in biotite gneiss basement rocks. The samples returned values of 4.85% and 13.11% U3O8 respectively. See UNOR news release dated November 29, 2004.
The main focus of Adriana’s 2006 reconnaissance program was to confirm the uranium potential of the UNAD JV claims. Six grab samples were taken from the Tabb Lake area where previous exploration work, carried out in the late 1970′s, reported anomalous uranium mineralization in the basement rocks and overlying Hornby Bay sandstone. The samples were collected from outcrops, talus and broken rubble that exhibited anomalous counts per second (“CPS”) readings from a scintillometer. One highly anomalous sample returned 7.281% U3O8. It consisted of metavolcanic basement rocks, and was collected from a 1.5 meter rock fragment located approximately 10 meters down slope from the source outcrop.
North of the Tabb Lake showings, a previous operator reported a drill intersection within the UNAD JV claims along the structural corridor that hosts the Tabb Lake uranium mineralization. Drill hole 83-5 (drilled in 1983 and reported in 1984 NWT assessment report 81730) intersected 14.3 meters of 0.005% to 0.020% U3O8 from 9.4 meters to 23.7 meters in brecciated and altered Hornby Bay sandstones. Samples were analyzed by Vangeochem of North Vancouver, British Columbia using the fluorimetric analysis method. The Companies’ are encouraged by these historical results that indicate uranium mineralization along this 15 km long north-south trending structural corridor.
The uranium deposit model types thought to occur within the Companies’ claims include polymetallic (uranium, copper, nickel, and cobalt) veins in Paleoproterozoic basement rocks, basal unconformity deposits within the Hornby Bay Basin and remobilized uranium mineralization in the overlying Hornby Bay and Dismal Lakes group sediments.
The UNAD JV properties now encompass a total of 25 claims covering 48,005 acres in the Hornby Bay Basin area of Nunavut. An additional 17 claims covering 43,902 acres are pending giving a total of 91,907 acres. The UNAD JV is a 50/50 joint venture between Adriana and UNOR.
The Companies contracted Fugro Airborne Surveys to conduct approximately 625 line-kilometers of airborne geophysical surveys that will be used to map conductive graphitic zones and structures, potential hosts for uranium mineralization. The Companies are now compiling historical data sets in preparation for follow-up programs.
Fieldwork for the UNAD JV program was carried out under the supervision of the Companies’ in-house qualified persons as determined under National Instrument 43-101. Representative grab samples were collected and retained for all samples submitted for geochemical analysis.
Selected samples collected during the fieldwork were shipped to the Geoanalytical Laboratories at the Saskatchewan Research Council (“SRC”) under controlled conditions. The SRC Laboratory is an accredited facility in Canada, providing analytical services to the uranium exploration industry. The laboratory has an internal Quality Assurance program.
Mr. Afzaal Pirzada, P.Geo., a Qualified Person under NI 43-101, has approved the technical content of this News Release on behalf of Adriana Resources Inc.
About Adriana Resources Inc.
Adriana Resources Inc. is a mineral exploration and development company with advanced and early staged mineral projects in Canada and Finland. Adriana’s Board has an impressive record in identifying and successfully developing economic mineral deposits through to production.
ON BEHALF OF ADRIANA RESOURCES INC.
Michael J. Beley, President
WARNING: The Company relies on litigation protection for “forward looking” statements. Actual results could differ materially from those described in the news release as a result of numerous factors, some of which are outside the control of the Company.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this release.
Robert Ferguson Adriana Resources Inc.
(604) 629-0250 or Toll Free: 1-877-629-0150
Ali Sinawi Adriana Resources Inc. (604) 629-0250 or Toll Free: 1-877-629-0150 (604) 629-0923 (FAX)
Source: Adriana Resources Inc.