Unitronix Corp. announces completion of Phase II Exploration Program

Unitronix Corporation announces completion of Phase II Exploration Program

by its majority owned Canadian Subsidiary, Aur Lake Exploration Inc.

Phase III is Underway

Aur Lake Exploration Inc. (“Aur”), a majority owned subsidiary of Unitronix Corporation, (“UTRX”) announces the completion of Phase II of its exploration program conducted on the “Jumping Lake” 16 unit claim, part of the contiguous 87 unit claim holdings of Aur in Fourbay Lake Township, Patricia Mining Division in north-western Ontario.

Phase II, in addition to performed field reconnaissance, involved the collection of over 500 geochemical samples over more than 11 km of ground for laboratory processing, geochemical analysis, expert interpretation and analysis.  Most of that was done by the Soil Gas Hydrocarbon method (SGH) of Activation Laboratories of Ancaster, Ontario. That original analysis indicated the presence of numerous gold anomalies in the central part of the survey area.

As part of Phase II, Aur also conducted a three pronged geophysical survey over 8 km of ground. The survey techniques employed were as follows:

1).   Spectral Induced Polarization and Resistivity (IP).

2).   Magnetometer (MAG).

3).   Very Low Frequency – Electromagnetic (VLF – EM)

A large number of IP anomalies have been identified by this survey. After all generated data was assembled, reviewed and analysed, a report with recommendations for drilling was presented to Aur by the geophysicist responsible for the survey. Twenty-nine (29) priority targets were selected for follow up within the survey area, twelve (12) having the characteristics of gold and seventeen (17) having the characteristics of base metals (VMS) mineralization, according to the report. 

The IP report recommended that after initial subsurface data is collected at some of the target locations the preferred style of economic gold and base metal mineralization should be determined by a qualified geologist familiar with regional and local geology and work done at the survey area. Following review of the report by Aur, discussions ensued with the report’s author primarily regarding the emphasis it put on spectral parameters versus more conventional IP parameters.

Notwithstanding the satisfactory responses to increased and focused queries, Aur authorized a complete review of the data and the methodology by another recognized geophysicist to independently review all the data, the report submitted and prepare a report of his findings.

Aur has received this detailed review, which favourably commented on the calibre of work performed and recommended focussing on a subset of the targets generated by the initial report.

After consideration of both the report and the review, Aur has determined that the higher priority recommendations of both reports, which differ somewhat in interpretive methodology, were actually quite similar, and that they primarily differ in the scope of lower priority targets.

Based upon geophysical indications of VMS (base metals) potential, along with similar geochemical indications on the site, and the historic record of VMS mineralization nearby, Aur requested that the SGH data be reanalysed for VMS potential. A report was received from Activation Laboratories indicating a VMS target surrounded by the previously identified gold anomalies. The report also included a drill target over the VMS anomaly.

Upon review the great majority of geophysical targets seem to be spatially related to geochemical anomalies. Of the geophysical targets with geochemical correlation, a number of them are indicated as being at or near the surface of the bedrock, just below the overburden.  

A field trip is scheduled to begin on Oct 8, 2010 to economically test a number of near surface geophysical and geochemical targets located in areas where Aur expects to expose bedrock with heavy equipment. Information gained by this method is expected to be of significant benefit to Aur in evaluating different types of proposed drill targets for an initial drilling program that is anticipated for the first half of 2011.  The field trip will be supervised by Aur’s Chief Operations Officer and is expected to take seven days. 

Aur has finalized an agreement with a highly regarded consulting geologist with expertise in the regional and local geology of the Jumping Lake area and experience including many years in senior positions with major base metal companies and as Senior Geologist with a major gold mining company.

Aur has provided the consulting geologist with the company’s entire GIS database. The database includes all field work, sampling, assaying, stripping information and structural data and reports prepared for and by Aur since its formation in the spring of 2008.  All references to historical information and reports retrieved and studied by Aur are also referenced in detail in the database.  In addition, complete data of geochemical sampling along with the analytic reports by geochemical experts of all the geochemical work was included.

A detailed review will be undertaken by the consulting geologist with the full cooperation of Aur to assess the recommendations of drilling targets made by subconsultants.  Specific recommendations to Aur regarding future work on the property will be provided by the consulting geologist. Aur expects this to include a prioritized collection of drill targets, and the budget required for such work.

As the exploration programs grow, Aur will continue to employ a systematic and cost effective approach.

To date, investments and loans have been by two shareholders, a director of Unitronix and management of Aur.  Unitronix has not provided any of the financing.  Should Unitronix provide financing for the next round of required funding, Unitronix will own an increased equity ownership in Aur.  Should Aur seek financing elsewhere, the Unitronix equity interest will decrease.

Unitronix has indicated that it will attempt to finance the current project including the initial drilling program scheduled for the winter or the spring of 2011. 

Unitronix and Aur are proceeding based upon the belief that the current phase, when completed, will open a variety of choices for funding. 

In addition, 1522923 Ontario Inc., a wholly owned subsidiary of Unitronix has arranged a limited financing for its majority controlled Joint Venture Company, 3936449 Canada Inc., utilizing the “flow through” shares provisions in Canadian Tax Law, to do sufficient SGH geochemical sampling and assaying on claims in the Cobb Bay (gold) area in the fall of 2010 to meet assessment requirements, and extend the life of some or all of the claims, through 2012. 

Management of Unitronix and Aur recognize the challenges ahead to harness this highly speculative venture.  They will do whatever they can and continue to engage the services and expertise required to determine if the potential they see today can be realized.

Safe Harbor Statement:

This press release contains forward looking statements.  Such statements include without limitations, statements regarding future results of operations, performance and achievements of the company and its subsidiaries, including cost and results of proposed work programs, the discovery and delineation of mineral deposits, geological interpretation, business and financing plans, business trends and other numerous factors that can adversely impact the business of mineral exploration.

Statements made are based on current expectations and involve various factors that could cause the actual results to differ materially from those stated or implied.  Unitronix Corporation expressly does not undertake to update such statements.

Contact:

Sandy McAlister

864.233.6391