CanAlaska Completes Key Extension of Uranium Project to Earn-In and Consolidate 100% Ownership
CanAlaska Uranium Ltd., a Canadian-based resource development company, has announced the successful completion of an important milestone in its uranium project located in the Athabasca Basin region of Saskatchewan. The company has successfully extended the boundary of its East Boulder Project, under a farm-in and joint venture agreement with Denison Mines.
CanAlaska’s large land holdings in the region, with its adjacent exploration licences, are an asset that it looks to add value to; through strategic partnerships such as the one with Denison Mines. Through this agreement, Dynatec Mining Ltd., a subsidiary of Denison Mines, has earned a 40% interest in the project through funding two exploration programs.
The agreement secured strategic access to the land within the Athabasca Basin. This included new areas, including now-consolidated mineral claims subsequent to the original agreement, that totaled to an additional 47,000 hectares; an increase of nearly 25% to the 200,000 hectares of exploration lands within the East Boulder Project. This extension was required for CanAlaska’s complete ownership of the project, which has been the aim of the company’s exploration program since inception.
The consolidation of 100% ownership of the project is a major milestone for the CanAlaska Uranium. The secured land access provides CanAlaska with ownership of a great deal of potential mineralization; allowing for the oprtunites tp explore potential high-grade uranium zones in the region. This ownership in the land also enables CanAlaska the ability to secure lucrative trade and joint venture agreements with new investors or potential buyers.
CanAlaska’s consolidation of the project will be beneficial to the Athabasca Basin’s uranium production in the near future; providing an array of potential opportunities. The East Boulder Project could hold up to 2.1 billion pounds in high-grade uranium resources and CanAlaska’s focus on responsible development, will allow it to continue to grow and develop the project; while exercising the utmost caution to ensure the safety and security of employees and local communities.
This is an exciting milestone for CanAlaska Uranium Ltd., with its acquisition of 100 percent ownership of the land and mineral rights in the Athabasca Basin. With successful completion of this acquisition, CanAlaska now has the resources and opportunity to create potential value for shareholders and investors. There is potential for new joint venture and exploration opportunities in the future and the outlook for the project is envisioned to be quite beneficial.
