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Unity Energy Corp. (UTY:CA)
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Web site:
http://www.unityenergycorp.com
Unity Energy Corp (UTY) is engaged in uranium exploration in the most productive region of the world: the Athabasca Basin. The Company has assembled a team of dedicated indusry professionals and local first nations peoples to utilize leading edge technologies in refining exploration targets at five projects: McKenzie Lake, Thorburn Lake, Close Lake, Lampin Lake and Waterbury Lake.
See Claim Map
In 2010, UTY intends to implement an aggressive ground geophysical survey on multiple conductive EM anomalies at Waterbury and McKenzie Lake, which were defined by a Mag/EM surveys, carried out by Fugro and Geotech.
The Waterbury Lake Project
The Waterbury Lake Property was acquired in March 2010 and is located in the north eastern Athabasca Basin, SK. The three claims cover an area of ~1856 hectares, ~ 9km south of the Midwest Mine, controlled by Areva Resources Canada and Denison Mines Corp. Access to the property is very good as portions of it cover the Cigar Lake road.
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The McKenzie Lake Project
The 9,524ha Project is situated along the southeastern edge of the Athabasca Basin, approximately 43 kilometers east-southeast of the McArthur River mine, 78 kilometers southwest of the past producing Rabbit Lake uranium mine, and 51 kilometers south-southeast of the producing Cigar Lake uranium mine. In 2007, a Tempest Mag/EM (below) survey delineated a 10km north south conductive anomaly coincident with a magnetic low as well as several offsets that have been interpreted as cross faults.
North-trending faults cut the central Project area around Ox Lake, and northwest trending small scale folds and shears occur in the northwest portion of the Project.
From 1968 through 1970, Gulf carried out a variety of work programs on the McKenzie Lake Project and surrounding area. The Ox Lake showing was first investigated to locate anomalies outlined by an airborne radiometric survey. Work identified radioactive conglomerate beds up to 50cm thick at the base of the Athabasca and anomalously radioactive pegmatite dikes. The Ox Lake showing consists of an occurrence of calc-silicate allanite in a series of small shear zones cross-cutting a second generation pegmatite dike. Allanite mineralization occurs in local concentrations and secondary enrichments (weathering) along joints and fractures within the pegmatite, and has been traced over a strike of 800 ft (243.8 m). In 1970, ten cored holes, which were completed on the allanite zone, intersected northeast-trending Wollaston Group biotite gneiss cut by segregation pegmatites and later dike-like pegmatites. The best drill intersection assay result was from a 1.5 meter interval from 42.7 to 44.2 meters that returned 0.31% U3O8 and 0.22% ThO2.
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The Close Lake Project
The Close Lake Project, which is comprised of a singe mineral disposition covering an area of ~596 hectares, is ~10.6km northwest of the Cigar Lake mine. The Tucker NE conductivity trend, which lies immediately north of the CL Property, was delineated by a 1991 Comega (now Areva) ground EM survey and a 2004 MEGATEM Airborne EM & Magnetic Survey. The anomaly was interpreted as a series of 3 or more northeast parallel basement conductive anomalies, the most southerly of which (C-12A) lies ~170m from the northernmost boundary of Unity’s CL property.
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The Lampin Lake Project
The Lampin Lake Project consists of a single 500 hectare disposition located on the eastern margin of the Athabasca basin. The Property is 3.7km southeast of Unity’s Waterbury Lake Property and is bordered by claims held by Dennison to the east (Hidden Bay Project) and Cameco Corporation on all other sides.
The southernmost part of the Lampin Lake Property covers an extent of the Q12 Zone, which consists of a 500m-750m wide Bouguer anomaly, coincident with the Q12EM conductor series that is believed to be an extent of the larger Telephone Fault system. While the Lampin Lake Property has not been tested by diamond drilling, significant work has been warranted on adjacent claims to the north by UEX and the south by Cameco. The exploration targets at Lampin Lake are shallow unconformity type deposits located at or near the basement, at ~ 200m, structurally controlled by the Telephone fault system in the south and the Shamus North fault in the north.
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