The 2,354-hectare claim is on the eastern edge of the basin, and significant exploration projects in the immediate include UEX’s Hidden Bay project, Fission’s Minor Bay project, Pitchstone’s Martin, as well as projects controlled by Denison Mines and JNR Resources.
Under the staking agreement, the company must complete a minimum of $2.5m of exploration expenditures on the project within four years.
Unity Energy said that a 1.5% NSR has also been granted to the arm’s length staker, which can be purchased at any time for $1.5m.
Unity Energy president Anita Algie said the proximity to the West Bear Deposit and other compelling geological features could make Mitchell Lake a marquee exploration project for the company.
