Unity Energy has signed a property option agreement with a vendor to earn a 100% interest in the Kirkpatrick Lake property in the north eastern Athabasca Basin, Saskatchewan, Canada.

The property, which covers an area of approx.1270 hectares, lies on a line between two major uranium mines, approximately 13km southwest of the Cigar Lake Mine and approximately 27km northeast of the MacArthur River mine.

The company said that a synthesis of the data revealed at least four target zones at Kirkpatrick Lake, the most prospective of which is the ‘western shear zone’.

Targets at Kirkpatrick Lake are predicted to be at depths less than 500m and to be of the unconformity controlled or basement hosted high grade deposit type.

Unity intends to immediately survey Kirkpatrick Lake with an upgraded VTEM survey, which is currently in progress and more than half completed, with the intention of identifying targets.

Upon the receipt of regulatory approval, the company can earn a 100% interest in the property by paying $50,000 and issuing 1,600,000 common shares to the vendor.