Unity Expands Holdings at McKenzie Lake Uranium Project
29 Marzo 2011 - 3:00PM
Marketwired
Unity Energy Corp. (the "Company" or "Unity") (TSX VENTURE: UTY) is
pleased to announce that it has staked an extension property of its
McKenzie Lake Project on the south-eastern border of the Athabasca
Basin. The 5000 hectare claim adjoins the north-eastern border of
the McKenzie Lake Project and with this acquisition, the project
now covers over 14,500 hectares. The extension claim, which covers
Patterson Lake, hosts a north-east trending feature that appears to
cross-cut the primary target at McKenzie Lake: a roughly 10km
north-south EM anomaly that is coincident with a significant
regional fault. This target tested positive for near surface
uranium mineralization in a radon gas/gamma radiation survey in
2010 and in a 1970 diamond drill program by Gulf with a 2.5m
interval at 42.7m depth grading 0.31% uranium and 0.22% thorium.
A 1% NSR has been reserved to Basin Minerals Ltd., which can be
repurchased by Unity for $1,500,000, less any amounts paid through
the royalty.
Background on the McKenzie Lake Project
The 14,500ha Project is situated along the southeastern edge of
the Athabasca Basin, approximately 43 kilometers east-southeast of
the McArthur River mine. In the fall of 2010, a radon gas and
radiometric soil borehole survey was conducted on parts of the
McKenzie Lake Project. Radon gas is produced from uranium decay and
when present with gamma radiation is potentially the best
pathfinder element for uranium exploration. The presence of gamma
radiation indicates a radiation source within one meter, as gamma
radiation is easily absorbed and short lived. The survey revealed
three target zones with elevated and anomalous radon gas and gamma
radiation levels. Two of the three zones are coincident with the
regional north-south trending fault zone and EM anomaly mapped by
the Saskatchewan Geological Survey and confirmed in 2007 by a
TEMPEST (Fugro) survey.
Wheeler Zone: The Wheeler Zone produced highly anomalous gamma
and radon gas readings, with peak readings approx. 500m apart. The
Zone straddles the north-south regional fault. This zone lies just
east of a magnetic high and is coincident with an EM anomaly that
appears to extend to depth. This zone is open to the east.
McTavish Zone: The McTavish Zone also produced high gamma and
radon gas readings, with peak readings approx. 600m apart. The Zone
appears to correlate with a north east trending fault which
crosscuts the north-south regional fault. The zone also coincides
with a large conductor and appears to be open to the north, south
and east.
The McKenzie Zone: Elevated gamma and radon gas levels were also
detected at the McKenzie Zone, which lies approximately one
kilometer west of McKenzie Lake. The zone is proximal to a fault
and open to the west.
The survey covered 128 line kilometers (approx. 1,700 hectares)
and consisted of 523 grid points which were analyzed with solid
state nuclear track detection (SSNTD) monitors which precisely
measure radon gas (Rn222) activity in soil. In addition, total and
spectral gamma measurements were taken at each grid point with a
350 cubic cm NaI(Tl) probe linked to a multispectral analyzer. In
addition to the soil grid, an experimental grid covering the two
largest lakes was tested. The survey was supervised by Thomas Bell,
PhD, a registered professional geologist with over 30 years
experience as a consulting geologist to the mining, petroleum,
environmental, and geotechnical industries.
All of the Zones lie approx. 2-3km to the east of the Ox Lake
Allanite Zone (OLAZ), which is located near the center of the
McKenzie Lake project. The OLAZ was discovered by Gulf Minerals on
the southwest shore of Ox Lake. In 1970, a diamond drill program
intersected anomalous uranium and thorium mineralization at
relatively shallow depths. The OLAZ is also coincident with an EM
high and magnetic low delineated by the 2007 Tempest geophysical
survey.
------------------------------------------------------------------------
Hole 4-OX-01 Depth (m) Width (m) % U3O8 %ThO2
--------------------------------------------------------
SMDI File 1145 41.5-41.8 0.3 0.09 -
--------------------------------------------------------
42.7-44.2 2.5 0.31 0.22
--------------------------------------------------------
51.2-51.8 0.6 0.09 0.04
--------------------------------------------------------
54.9-56.4 1.5 0.10 0.03
--------------------------------------------------------
181.4-182.0 0.6 0.10 0.10
------------------------------------------------------------------------
As an overview, anomalous and tightly defined radon and gamma
data correlate well with positive results from previous work
programs. Thus, a fault controlled, near surface, deposit model is
the most likely target type for the McKenzie Lake Project. Deposits
of this type have been documented at the eastern margin of the
basin: i.e. the West Bear Uranium Deposit approx. 26km northeast of
the McKenzie Lake Project was discovered at a depth of 15-26m and
is the shallowest identified uranium deposit in the basin. UEX
reports the deposit as 1.26M lbs of U3O8 at an average grade of
0.44%, which could be mined using open pit methods (SMDI 1146).
The Company is pleased with the results of the survey and plan
to further model the survey data in conjunction with results from
previous work programs to refine potential drill targets. The radon
targets/ gamma anomalies suggest either an underlying bed rock
source or frost shattered rock close to source in the overlying
till. The presence of economic uranium mineralization can be tested
with a focused drilling program. Reducing the risk of a drilling
program can be accomplished by subsequent geologic mapping and
geochemical sampling of each anomalous area, additional radiometric
measurements, and extension of the sample grid across the open
boundaries of the anomalies.
On Behalf of the Board of Directors of Unity Energy Corp.
Peter Born, P.Geo., Director
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: Unity Energy Corp. Peter Born, P.Geo. Director
604-681-0004 www.unityenergycorp.com
Grafico Azioni Unity Metals (TSXV:UTY)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Unity Metals (TSXV:UTY)
Storico
Da Giu 2023 a Giu 2024