Power Metal Resources plc has staked claims for four 100% owned uranium exploration properties comprising seven licences surrounding the Athabasca Basin in Saskatchewan, Canada.
PROPERTIES
Power Metal said it had quickly secured a strategic position in uranium exploration following recent increased interest in the sector.
The properties include Clearwater; Tait Hill; Thibaut Lake; and Soaring Bay which cover a combined 10,869 hectares (109km2).
The area hosts some of the world’s largest and highest grade uranium mines including Cameco Corporation’s Cigar Lake and McArthur River Uranium Mines.
Saskatchewan was recently ranked the third best mining jurisdiction in the world in Fraser Institute’s 2020 rankings.
| Project | Licence ID | Size – Hectare | Granted |
| Clearwater Uranium Property | MC00015079 | 1,110 | Yes |
| MC00015083 | 563 | Yes | |
| MC00015082 | 3,191 | Yes | |
| Tait Hill Uranium Property | MC00015078 | 1,576 | Yes |
| MC00015081 | 968 | Yes | |
| Thibaut Lake Uranium Property | MC00015077 | 2,206 | Yes |
| Soaring Bay Uranium Property | MC00015080 | 1,255 | Yes |
BUILDING BLOCK
Chief executive Paul Johnson added that Power Metal had for some time been reviewing uranium opportunities across three continents.
“Today we make our first important public step into the uranium commodity space.
“The properties have been selected after careful review and are strategically located where there is material evidence of uranium prospectivity as demonstrated by historic exploration reports as well as through various uranium focused government databases.
“The acquistion of these uranium properties through staking represents an important building block in Power Canada’s growing strategic energy metal business.”
POWER CANADA
Power Metal said that as the properties were acquired through staking, Power Canada will have a 100% interest with no outstanding royalties or encumbrances.
The uranium exploration interests add to the subsidiary’s strategic energy metal business which currently comprises the Authier North lithium project in Quebec, where ground exploration is due to start.