Noka Files Technical Report for Carpenter Lake Uranium Project, Saskatchewan
June 25, 2014 (Source: Marketwired) — Noka Resources Inc. (TSX VENTURE:NX)(FRANKFURT:2NK) (“Noka”) has filed a technical report entitled “Technical Report on the Carpenter Lake Property, Northern Saskatchewan” dated June 13, 2014 and prepared by Allan Armitage, Ph.D., P.Geol., of Geovector Management Inc. Dr. Armitage is an independent qualified person under NI 43-101 regulations. The National Instrument 43-101 technical report is available under the company’s profile on SEDAR.
The Carpenter Lake Property has been optioned to Alpha Exploration Inc. (TSX VENTURE:AEX) and they are presently earning a 60-per-cent interest in the Carpenter Lake Property by incurring exploration expenditures of $1.25-million, after which a joint venture with Noka will commence. The Carpenter Lake Property lies approximately 85 kilometres west of the past-producing Key Lake mine infrastructure and mill complex and extends for approximately 25 km along the southern extension of the Cable Bay shear zone.
Nav Dhaliwal, President, states: “Noka is very pleased to have completed the technical report on our Carpenter Lake Property and as such we as a company feel very privileged to be working along side the Alpha Exploration team. As the Alpha team was an interregnal part of the PLS discovery, we feel we are on the fast track to successfully advancing this key property in our portfolio.”
Recent work completed by Alpha in 2014 includes:
Radon-in-water and lake sediment geochemical sampling (see Noka’s news release dated May 21, 2014) has outlined several areas of interest for summer 2014 evaluation. The radon-in-water and lake sediment uranium anomalies found in the 2014 survey are important indicators for locating potential buried uranium mineralization.
A property-wide VTEM airborne survey was completed by Aeroquest Airborne in February, 2014. Some of the recently identified geochemical anomalies lie close to crosscutting geological structures and conductors interpreted by Condor Geophysics from the VTEM survey.
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Results of the above work are summarized in Dr. Armitage’s technical report.
An airborne gamma spectrometer survey is contracted for execution by Goldak Airborne Surveys as soon as drier ground conditions allow for better gamma radiation signal response. This airborne gamma survey has the capability to identify radioactive boulders similar to those found on the Fission Uranium / Alpha Minerals Patterson Lake South joint venture in 2011, prior to the discovery of high-grade uranium by drilling in late 2012.
A boulder prospecting program is planned to follow up on the results of the airborne gamma survey and a further radon surveying is planned for targets up-ice from radon-in-water and lake sediment uranium anomalies.
Alpha Exploration has engaged Discovery Consultants of Vernon, B.C. to manage Alpha’s 2014 work programs. The senior members of Discovery’s team have extensive uranium exploration experience in the Athabasca basin and in several international jurisdictions.
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 was reviewed on behalf of the company by Bill Gilmour, P.Geo, of Discovery Consultants, 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, 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
President and CEO
This press release contains “forward-looking information” that is based on Noka’s current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Noka’s exploration and development plans. The words “will”, “anticipated”, “plans” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Noka’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Noka disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>