Unity Energy Corp says it has entered into an acquisition agreement with an “arms’-length vendor to earn a 100% interest in the Dickens Lake Property, located in the La Ronge Gold Belt, northern Saskatchewan.
The project consists of four adjoining mineral dispositions and covers an area of more than 6000 ha in a region that has produced over 600,000 ounces of gold.
More than 100 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.
Unity Energy can earn a 100% interest in the project by paying the vendor $30,000 and issuing 2,000,000 common shares. A 2% NSR has been granted to the vendor, of which 1.5% can be purchased for $1,500,000. No new insiders or control person will be created through the acquisition. The transaction is subject to TSX Venture Exchange Approval.