Exploratory Lands
August 4, 2009
In addition to its interest in the Fort Hills, Equinox and Frontier Projects, UTS, along with Teck Cominco owns a number of other oil sands leases that hold potential for either mining or in situ developments.
The 2008/2009 winter season was the fourth year in which UTS, together with Teck, conducted an extensive and successful core hole drilling program. The chart below summarizes all of the drilling activities conducted jointly with Teck.
Core Holes Drilled to 2008/2009 Season | Cores Holes Drilled 2008/2009 Season | Total Core Drilled |
||
| WEST OF THE ATHABASCA RIVER | ||||
| Equinox Project (Lease 14) |
124 | – | 124 |
|
Frontier Project (Lease 311, 468, 470, 477, 610 & 840) |
398 | - | 398 |
|
| Leases 513, 514 | 20 | - | 20 |
|
| Leases 469, 471 | 1 | - | 1 |
|
| Leases 611, 614, 615 & 915 | 4 | - | 4 |
|
EAST OF THE ATHABASCA RIVER | ||||
| Lease 509, 510, 511, 837 | 15 | – | 15 |
|
| Leases 422, 423 | 5 | 3 | 8 |
|
| Lease 421, 022 & 023 | 5 | 54 | 59 |
|
| TOTAL | 572 |
57 |
629 |
|
|---|---|---|---|---|
UTS Drilling Program Summary
The scope of previous core hole programs and the program recently completed during the 2008/2009 winter season are highlighted in the above table. Using results from previous years’ drilling, UTS has planned successive programs to capitalize on preliminary exploration leads and, over a period of approximately two years, drill to a sufficient density to establish firm resource estimates.
EXPLORATION LANDS
In addition to Fort Hills project, Equinox project, Frontier project and Lease 421 Area, UTS holds a 50 percent interest in 115,200 acres of exploration lands to the east of the Athabasca River (Leases 422, 423, 509, 510, 511 and 837) and 94,080 acres to the west of the Athabasca River (Leases 003, 469, 471, 513, 514, 611, 614, 615 and 915).