Uranium North Resource has signed an agreement with North Arrow Minerals to buy information to explore the Nowyak gold/silver property in Nunavut. This data consists of geophysical, geological and sample assay information of the Nowyak property. The cost price of this data is $15,000 in cash and 75,000 ordinary shares.
The company has 100% interest in the Nowyak property. At first, the data was gathered in the late 1990s and early 2000s. The positive results from the east showings, which locates wide gold zones and the digital data from Induced Polarization survey, which supports to describe drill target areas are the significant components included in these data.
Uranium North will provide any identified material data apart from the comprehensive survey and dataset examination.
Five gold properties are explored by the company and only two properties are subjected to drilling. Additionally, Uranium North has planned to organize resource expansion program aggressively on its Amer Lake uranium property.