Vancouver, BC / November 20, 2014 / Noka Resources Inc. (TSX-V: NX, FSE: 2NK) (“Noka” or the “Company”) is pleased to announce it has engaged geologic consultants, TerraLogic Exploration Inc., to manage exploration on its project portfolio and has commenced a historic work review and data compilation on its Lodgepole Uranium Project.
The Lodgepole Uranium Project is located along the southern margin of the Athabasca Basin, 50 km east of the Centennial deposit and 70 km west of the past producing Key Lake Uranium Mine in Northern Saskatchewan.
The 10,400 ha property straddles the Athabasca Basin margin along the southern reaches of Cree Lake, and has established potential for shallow, unconformity hosted uranium mineralization.
Past exploration work by Cameco, Uranerz and JNR Resources included ground based geological and geochemical programs and extensive airborne and ground geophysical surveys which have demonstrated numerous geophysical conductors that were the subject of sporadic diamond drill campaigns along the Ponderosa, Bay and Liberty conductor trends.
The drill programs verified graphitic-bearing shear zones in the underlying basement rocks along with uranium pathfinder elements such as zinc, copper, nickel, cobalt and boron which are spatially associated with chlorite, hematite and clay alteration. These structural, chemical and alteration characteristics are typical components of unconformity uranium deposits. Historical drilling within 2 km south of the property, along the strike extension of the Bay and Liberty trends, also returned significant uranium (up to 908 ppm U3O8) in similarly altered graphitic shear zones.
A comprehensive historic work review and data compilation has recently been commenced in order to identify and refine known anomaly corridors and to determine where additional infill ground surveys and subsequent diamond drilling should be completed.
Jarrod A. Brown, P.Geo.,of TerraLogic Exploration Inc. is the Qualified Person as defined by National Instrument 43-101 and has approved the technical information in this release.
Noka has engaged TerraLogic Exploration Inc. of Cranbrook, BC to complete the compilation along with recommendations for ground work that will ultimately be used to refine future diamond drill programs. TerraLogic has been operating mineral exploration projects in North America since 2004, and has extensive uranium exploration experience in Saskatchewan.
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 40% interest in the Clearwater Property (which includes Carpenter Lake), a 100% interest in the Athabasca North Property, 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
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.
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.
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