UNITY STAKES MILLIKEN LAKE PROJECT, ATHABASCA BASIN
(firmenpresse) -
UNITY STAKES MILLIKEN LAKE PROJECT, ATHABASCA BASIN
September 27, 2011—Unity Energy Corp. (UTY—TSXV) (“Unity” or the “Company”) is pleased to announce that it has acquired through staking a prospective uranium exploration property known as the Milliken Lake Property. The 1941 hectare claim lies on the eastern edge of the Athabasca Basin, adjoining to the southeast, UEX’s Hidden Bay and to the west Hathor’s Milliken Creek Project. The project area has seen significant exploration activity, including an Aeroquest AeroTEM III time domain helicopter electromagnetic survey in 2005 (UEX) and boulder prospecting survey (Denison) in 2006. With this acquisition, Unity now controls eight quality uranium exploration projects (27,500 hectares) in the most productive region in the world.
Aeroquest’s Mag/EM survey was successful at detecting a northeast trending moderately conductive anomaly, spanning ~4.5km of the Milliken Lake Project. The Milliken Conductor, which appears to be a subtle anomaly that may represent an alteration zone corresponding with a magnetic low, is the Company’s primary exploration target at Milliken Lake. In 1997, Cameco tested a gravity anomaly in the northern portion of the Project, which was then part of the Park Creek Project. The unconformity was intersected at 97.4m (hole GL-1) and 87.95m (hole GL-2). Neither hole intersected alteration or mineralization; the holes were approximately one kilometer north of the Milliken Conductor.
The Company also covered the Milliken Lake Project in its 2011 VTEM survey; an interpretation on the results should be available in the near term.
Under the terms of the staking agreement, Unity must within four years, complete a minimum of $2,500,000 of exploration expenditures on the Project. A 1.5% NSR has also been granted to the arm’s length staker, which can be purchased at any time for $1,500,000.
“The Company is very pleased to have been able to pick up such a prospective project with shallow targets in the heart of the Saskatchewan’s uranium belt. We hope to be able to mirror UEX’s success with their Hidden Bay Project and bring increased value to our shareholder faithful.”
Dr. Peter Born P.Geo., the Company’s Qualified Person and Director, is responsible for the geological content in this news release.
For more information, contact the Company at 604-681-0004 or visit www.unityenergycorp.com
On Behalf of the Board of Directors of Unity Energy Corp.
Anita Algie
Anita Algie B.Sc. Hon, President
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.
Leseranfragen:
UNITY ENERGY CORP.
Datum: 27.09.2011 - 14:50 Uhr
Sprache: Deutsch
News-ID 69636
Anzahl Zeichen: 2979
contact information:
Town:
Wien
Kategorie:
Business News
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