The 100% UNR owned Nowyak project is located 245 kilometres west of the Hudson Bay coastline and the community of Arviat, Nunavut. Nowyak is situated within the Archean Yathkyed greenstone belt and is an intrusive related auriferous quartz-carbonate-sulfide vein system. Highly anomalous gold (and silver) concentrations have been recognized along a 5.5 kilometre structural shear zone near or at the contact between mafic & felsic volcanics and younger tonalite to granodiorite intrusions. Best results across the property, including historic results, include spectacular grab samples up to 139.3 g/T Au and 1420 g/T Ag from an unsourced boulder, 8.5 g/T Au over 1.5 metres in a channel sample, 8.6 g/T Au over 2 metres in a drill hole, 17.45 g/T Au & 50.3 g/T Ag grab from a newly recognized IP anomaly that extends for more than 750 metres and remains open to the north.
Mineralization to date is confined to low density narrow veins but the fact that highly anomalous Au is dispersed for such a long distance in a highly favourable setting, and that exposure along the entire trend is sparse (<1%) and is essentially undrilled, leaves considerable potential for a significant gold deposit. Areas with new IP anomalies and high grade surface grab samples require drilling.