Source: Unity Energy Corp.
Unity Energy Corp. (the Company or Unity) (TSX-V: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.
Unity expands McKenzie Lake uranium project holdings
Source: Unity Energy Corp.