Greenville SC, September 16, 2009: Aur Lake Exploration Inc, a subsidiary of Unitronix Corporation announces that Phase 2 of its gold exploration program in the Sturgeon Lake Area of Northwestern Ontario is underway.
Line Cutting has been completed for an Induced Polarization (IP) geophysical survey over the known mineralized area of the Jumping Lake claim and its surroundings. The IP survey is scheduled for mid-October, 2009. Meanwhile, preparations for geochemical testing using a variety of partial extraction techniques, which involved the selection of methods, sampling protocols for various media expected, and geochemical data interpretation specialists, are complete. Geochemical sampling is scheduled to begin in late September, 2009, and will include lake-bottom sampling with a dredge wherever mineralization is known or thought to extend into water bodies. These elements of the program are being undertaken to assist in the selection of targets for a diamond drilling program projected for 2010.
Selective use of partial extraction geochemical sampling as well as widespread traditional boot and hammer prospecting, which includes the collection of rock grab samples, will be performed over the rest of the 56 claim unit property, starting in late September, 2009. This selective geochemical sampling will focus on the upper contacts of the quartz-feldspar porphyry and granodiorite intrusions on the property to investigate the recent structural conclusions by MIR Télédétection Inc. of Longueuil, Québec, (MIR) that the known mineralization is intrusion-related. Rock samples collected will be submitted for appropriate assay.
The Jesse Lake historic gold occurrence and the area along the shear zone that runs from the Jessie Lake claim onto the rest of the company claims will be subjected to a thorough study to test the MIR conclusion that Jessie Lake mineralization may be structurally related to that at Jumping Lake and to discover if the Jessie Lake occurrence extends beyond what is already known along the shear. Because of the discoveries of high molybdenum values in previous samples taken at Jessie Lake, and the high degree of correlation between molybdenum and gold in those samples, some of the grab samples taken in the western extremes of the company’s property area will be analyzed for a wide array of metals using ICP-MS methods.
By these efforts away from the known mineralization at Jumping Lake, Aur Lake Exploration Inc. hopes to come to a better understanding of the geology of the area and to expand the areas of known gold occurrences on its claims.
Financing has been arranged with previous investors. The advances for this program and the follow up professional analysis and reports along with the financing for the technical surveys and field work earlier this year will be about $200,000 (Can). Unitronix is obligated to issue two year Redeemable Preferred Shares and a Net Smelter Return (NSR) royalty to investors for their participation, thus retaining the majority interest in Common Shares of Unitronix Corporation in Aur Lake Exploration Inc. as currently exists. The agreement will be finalized including the percentage of the NSR that cannot exceed 1% when the final financial costs and funding have been established. This is expected to occur before the end of this year.
Safe Harbor Statement:
This press release contains forward looking statements. Such statements include without limitation, 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 numerous factors that could cause the actual results to differ materially from those stated and implied. Unitronix Corporation expressly does not undertake to update such statements.
Contact:
Sandy McAlister
864.233.6391
sandy@shawresourcesinc.com