Power Metal Resources plc has staked two further uranium properties, taking its total to 16 in Saskatchewan, and plans to extend the portfolio to other regions.
HAWKROCK
The acquisitions include Hawkrock East and Hawkrock West, each 12km apart, and covering a combined 4,280 hectares (42.80km2) within the prospective Snowbird Tectonic Zone (STZ) in the northeastern corner of the Athabasca Basin.
Historical exploration on the Hawkrock East property identified elevated radon, uranium and methane-in-groundwater coincident with largely untested electromagnetic (EM) geophysics conductors.
The Hawkrock West property centres on multiple EM conductors coincident with elevated uranium pathfinder elements (including arsenic, cobalt, nickel, thorium and lead) in lake sediment sample assays.
HARESIGN BAY
Power Metal said that its previously staked Haresign Bay property had been reduced from 3,189 hectares (31.89km2) to 165 hectares (1.65km2) due to a correction following concurrent competing applications within the electronic claim register.
The company’s staking cost has also decreased from CAD$1,913.51 to CAD$300.
The Kernaghan property also previously acquired at the same time remains unaffected.
Power Metal’s total Saskatchewan uranium portfolio now covers 965.73km2.
BUILD EXPOSURE
Chief executive Paul Johnson added that there was “significant competition” for high quality uranium ground in and surrounding the Athabasca Basin.
“The interest in the Athabasca Basin is noticeably increasing meaning we must accelerate the acquisition of additional ground.
“Given the recognition of uranium as a key commodity for future power generation we are also accelerating our efforts to secure projects in other regions as quickly as possible to build our exposure.
“The level of interest in uranium exploration extends across many high-profile regions globally and there is no time to waste on this.”