Thorburn Lake Property
Unity Energy Corp. (UTY—TSXV) is pleased to announce that is has identified the primary exploration target at the Thorburn Lake Project, SK. The “Thorium Zone” consists of three thorium anomalies, ranging from ~500m to 1500m in length, coincident with magnetic lows at the north-eastern extent of the property. The anomalies appear to be related to cross faults and splays of the Collins Bay thrust fault, which arcs over the property to the north and is most significant control in the area, offsetting the overlying sandstone and the underlying basement rocks by as much as 100m in elevation.
Cameco drilled several conductors related to the Collins Bay thrust fault and intersected uranium mineralization as close as ~800m from the northern border of the Thorburn Lake Project. A preliminary ore reserve calculation* at Wolf Lake (~1600m northeast of the Thorburn Lake Project) indicated ~5.17 million pounds of uranium oxide at an average grade of 2.3% U3O8. The maximum grade is 22% U3O8 over 1.3m (4.27ft) in drill hole SOD-147-84.
Thorium anomalies at Thorburn Lake were identified in a Falcon (Furgo) survey, completed by AREVA in 2007. The only other significant thorium anomaly observed in the survey was detected ~14.4km to northwest over the Cigar Lake Mine. As uranium and thorium (which is also radioactive) are often found together in mineralized zones, Unity is placing significance on these results. Follow up work on these targets would include a ground resistivity survey to map local structural controls, such as faulting, and to identify subtle anomalies that may evidence alteration. If warranted, diamond drilling of high value targets would then follow. The Thorium Zone has not been tested by diamond drilling.
* Dr. Peter Born P.Geo., the Company’s Qualified Person and Director, has neither reviewed the original Sand/Wolf Lake Deposit exploration data, either on site or in the assessment files, nor verified assay results, with respect to the before mentioned “historical ore reserve estimate”. This calculation were prepared by what is assumed to be a reputable source (Cameco Corporation) and thought to be a reasonable resource estimate. This calculation is only relevant in assessing the potential type and dimension of a deposit that could exist in a similar and nearby, local geological settings. The Company is not treating this calculation as NI43-101 compliant and should not be relied upon. Geological and exploration information contained in this release is derived from sources believed to be credible. The Sand Lake and Wolf Lake Deposits are not located on the Thorburn Lake Project.