Dickens Lake Gold Project
The Project consists of four adjoining mineral dispositions and covers an area of over 6000ha in a region that has produced over 600,000 ounces of gold. Unity has a 100% interest in the Dickens Lake Project, subject to a 2% NSR, of which 1.5% can be purchased for $1,500,000. More than a hundred gold showings and four past producers are documented in the La Ronge Gold Belt and over $70 million has been spent on gold exploration and development since 1980.
Companies involved in exploration in this productive belt included Placer Dome, Cameco, Shore Gold and Cominco. At present, the most active company in the LaRonge Gold Belt is Golden Band Resources (GBN—TSXV), which recently commenced commercial gold production, controls 12 known deposits, 4 former mines and over 290 square miles of project land. In a news release dated April 20, 2011, Golden Band reported that “its Jolu gold mill (400 tpd) processed a total of 9,912 dry tonnes of high-grade ore from the Roy Lloyd mine during March, producing 3,349 troy ounces (107.7 Kg) of gold, with a recovered grade of 10.25 g/t Au. Total gold production to April 18th is 6,586 troy ounces (211.7 Kg), and the Company is on track to achieve its target of 45,000 troy ounces of gold for the first year of commercial production.”
The Dickens Lake Project has been the subject of several exploration programs, which have resulted in the identification of a host of occurrences and showings, including the Yates Au, Texas Grid Au, Slaney Lake, Teacher's Point Au, V.G. Au, Sulphide Island Au, Perepelitz Cu-Au, Sample MM-10-10-3, Cockwill Lake Cu, and the GB Gold. Unity included Dickens Lake in its VTEM survey and expects to have preliminary results this spring.
The Greywake (51% Masuparia/49% Golden Band) and Bingo (Golden Band) are the nearest deposits to the Dickens Lake Project. The Greywake Deposit lies 2.5km to the east and Masuparia Gold Corporation reports “Wardrop Engineering (2008) has completed an independent, NI 43-101 compliant resource estimation of the North Zone which gives an indicated resource of 184,000 tonnes grading 8.4 grams per tonne gold (est. 49,700 Troy ounces) plus an inferred resource of 58,000 tonnes at 7.29 grams per tonne gold (est. 13,600 Troy ounces) at a cut-off of 5 grams per tonne gold.” The Bingo Deposit lies 10.5km to the southwest and in a 2006 NI43-101 report, Ronal G. Simpson P.Geo estimated the Bingo Deposit to “contain an Indicated Mineral Resource of 22,900 tonnes grading 13.8 g/t gold at a cut-off of 5 g/t gold over a minimum width of 1.3 metres. An additional 136,500 tonnes averaging 12.74 g/t gold is classified as inferred.”
The Dickens Lake Project area lies within the northeasterly-trending, early to mid-Proterozoic, island arcderived, volcanosedimentary-plutonic belt, referred to as the La Ronge Domain. The La Ronge Domain is comprised dominantly of the 150 km long by 10 - 20 km wide Central Metavolcanic Belt (in which the majority of the projects are located). The boundaries between the Central Metavolcanic Belt and the flanking metasedimentary belts are generally characterized by a prominent zone of shearing. The volcanosedimentary succession is intruded by a variety of ultramafic to felsic plutons. The majority of the gold occurrences and those deposits which have been exploited are classed as shear zone-hosted quartz vein lode deposits, and they are located in areas with significant rock competence differentiations, as in the vicinity of pluton-volcanic contacts, at the contact of different phases within plutons, or between mafic and felsic flows. These structurally-controlled deposits can be further sub-divided into “felsic intrusion-hosted” (eg: Star Lake Type) and “volcanic-hosted” (eg: Bousquet Type and Memorial Occurrence).