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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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Western Nunavut - Uranium Properties

Technical Report on the Uranium Resources at Hornby Bay Basin - 2.4MB - Adobe Acrobat

Map of Western Nunavut claim location

UNOR's strategic land position in Western Nunavut UNOR Coppermine Property - Link to 3-D Model

In western Nunavut, the Company operates a 40-person exploration camp at Mouse Lake which is located in the north centre area of the Coppermine Property.

UNOR is exploring for uranium on 1.1 million acres (0.5 million hectares) on the following properties:

  • The Asiak Property 100% owned by UNOR which consists of a single claim block of 90 claims and leases covering 222,000 acres (89,700 hectares) that lie approximately 450 kilometres north of Yellowknife, Northwest Territories and 50 kilometres southeast of Kugluktuk, Nunavut. The Company acquired this property from 1996 to 1998 and since 2003, has spent $5.0 million on exploration.
  • The Coppermine Property 100% owned by UNOR which consists of two claim blocks of 226 claims and leases covering 311,500 acres (126,100 hectares) that lie approximately 450 kilometres north of Yellowknife, Northwest Territories and 100 kilometres south of Kugluktuk, Nunavut. The Company acquired these claims from 1996 to 1998 and since 2003, has spent $15.9 million on exploration.
  • The UNAD Joint Venture, a 50/50 joint venture with Adriana on 42 claims and leases covering 91,900 acres (37,200 hectares) that lie to the west, north and east of the Company's Coppermine Property.
  • The Lac Rouviere Option and Joint Venture with Cameco on 206 claims covering 521,500 acres (211,130 hectares) that lie to the west of the Company's Coppermine Property.

In 1996, UNOR bought the BP Minerals late 70s and early 80s uranium exploration data for western Nunavut which covers our Coppermine Property, and also covers the Lac Rouviere Joint Venture property with Cameco. We have digitized all this BP Minerals data and the work completed by BP Minerals on the Lac Rouviere Joint Venture property is as follows:

  • geological mapping at a 1:100,000 scale of the Lac Rouviere project area and at a 1:50,000 scale of the Kendall River project area;
  • geological mapping at 1:20,000 scale of the ground covered by all groups of claims;
  • colour-IR air photo coverage of the Lac Rouviere project area;
  • lake sediment geochemistry;
  • soil geochemistry;
  • scintillometer, radon, magnetometer and EM surveys;
  • airborne magnetic, VLF electromagnetic and gamma ray spectrometry survey of the Kendall River project area;
  • ground follow-up investigations in 17 areas characterized by airborne radiometric anomalies;
  • eight drill holes on BP's LAC-JEN group of claims located within Lac Rouviere project area;
  • determination of more than 20 radioactive hot-spots at different locations on the property; they occur in basement rocks (granite and volcanic rocks) and in Hornby Bay Group rocks;
  • identification of three U occurrences: Caribou showing which is found in a sheared granite containing secondary U mineralization (950 ppm); ERK showing associated with pitchblende veinlets in a fracture that cross-cuts a conglomerate and a basalt; BEM showing consisting of U mineralization coating fractures in a granite over an area of 50 sq.cm;
  • drilling on BP's LAC-JEN claims intersected very altered (hematized, chloritized and epidotized) granitic rocks near unconformity;
  • several conductors were identified by ground EM surveys; and
  • five drill targets were outlined based on detailed grid work (geology, soil geochemistry, EM, magnetic, radon, and scintillometer surveys).

The above work completed by BP Minerals in the late 70s and early 80s will save the Company several million dollars and approximately two years of work.