Power Metal Resources plc said it was looking for more international uranium properties after more than doubling its land package within the Athabasca Basin in northern Saskatchewan, Canada.
PROPERTIES
Earlier in September, the company acquired its first uranium properties of Clearwater, Tait Hill and Soaring Bay which have all been expanded.
Power Metal’s uranium portfolio now also includes the Thibaut Lake as well as the newly staked Cook Lake, E-12 and Reitenbach properties, increasing the total package from 109km2 to 241km2.
The claims are valid for two years with no minimum spend.
Power Metal said it had secured the majority of its land package prior to a “significant staking rush that occurred in the Athabasca Basin during the past few weeks.”
| Projects | Licence ID | Size – Hectare | Granted |
| Clearwater Uranium Property | MC00015079 | 1,110 | Yes |
| MC00015083 | 563 | Yes | |
| MC00015082 | 3,191 | Yes | |
| MC00015151 | 760 | Yes | |
| Tait Hill Uranium Property | MC00015078 | 1,576 | Yes |
| MC00015081 | 968 | Yes | |
| MC00015153 | 1,530 | Yes | |
| MC00015152 | 1,886 | Yes | |
| Thibaut Lake Uranium Property | MC00015077 | 2,206 | Yes |
| Soaring Bay Uranium Property | MC00015080 | 1,255 | Yes |
| MC00015155 | 3,375 | Yes | |
| Cook Lake Uranium Property | MC00015212 | 984 | Yes |
| E-12 Uranium Property | MC00015213 | 1,323 | Yes |
| Reitenbach Uranium Property | MC00015214 | 2,135 | Yes |
| 1,235 | Pending |
OPPORTUNITIES
Chief executive Paul Johnson added that the company had now secured a strategic uranium portfolio in Canada.
“There is a major opportunity in uranium and now Power Metal and its shareholders have a seat at the table in one of the best postcodes for uranium exploration and development.
“Power Metal continues to look across three continents for additional uranium opportunities, and if highly attractive opportunities are identified, we may expand our uranium portfolio further.”
HOLDING STRUCTURE
Power Metal’S 100% subsidiary Power Metal Canada Inc is the holding company for certain Canadian project operations.
Power Canada has now established it own 100% owned holding company 102134984 Saskatchewan Ltd, which holds all the uranium Properties.