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"This agreement strengthens our efforts to identify new uranium reserves for the future. Cameco gains the right to participate in the exploration of new regions and adds the expertise of a solid technical team to our knowledge base."

Cameco President & CEO on UNOR investment

Why UNOR?

 

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Eastern Nunavut - Uranium Properties

Map of Eastern Nunavut claim location

Eastern Nunavut Claims map

In August 2007, UNOR will commence uranium exploration on the Baffin Island Joint Venture with Cameco covering 1,588,000 acres (642,900 hectares) on 27 5-year exploration permits.

The Baffin Island Joint Venture property is comprised of 15 permits in Borden Basin in the north part and 12 permits in the Fury-Hecla Basin in the south part. The age, structural relations and compositions of the rocks of these basins resemble those in the Athabasca Basin and in Australia that carry large amounts of uranium.

In the late 70s, several companies explored this area and a number of radiometric anomalies and a small zone of uranium mineralization were discovered.