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Atomic Minerals Announces Acquisition of Uranium Mineral Properties in Northern Saskatchewan
Vancouver, British Columbia--(Newsfile Corp. - April 16, 2024) - Atomic Minerals Corporation ...
About this update from Atomic Minerals Corporation
[{"type":"text","content":"Atomic Minerals Announces Acquisition of Uranium Mineral Properties in Northern SaskatchewanVancouver, British Columbia--(Newsfile Corp. - April 16, 2024) - Atomic Minerals Corporation (TSXV: ATOM) (\"Atomic\" or the \"Company\") - Further to the Company's news releases dated February 5, 2024 and March 6, 2024, the Company is pleased to announced it has completed the acquisition of an extensive uranium land package, consisting of nine properties totaling just under 6,500 hectares within or in very close proximity to the Athabasca Basin in Northern Saskatchewan (the \"Property\"). Further details on the Property can be found in the Company's prior news releases available under the Company's profile on SEDAR+ at www.sedarplus.ca. The principal properties in the package include:Bleasdell Lake -- host to a 1957 historic resource of 620,700 pounds of U3O8 (triuranium octoxide) contained within two zones; Parks Lake -- three kilometres to the southeast of historic Rabbit Lake mine, and two km to four km east to northeast of Uranium Energy Corp.'s Horseshoe and Raven deposits; Pistol Lake -- completely surrounded by Cameco and 600 metres north of its Sand Lake deposit.The 1957 Bleasdell Lake historic resource was disclosed in a shareholder report for Columbia Metals Exploration Co. Ltd., dated Nov. 9, 1957. There is no technical report. The historic resource is relevant to the potential of the Bleasdell Lake property and is reliable as it was calculated to the standards of the day. The estimate was based on closely spaced shallow drill holes and more widely spaced deeper drill holes. The calculations, methods or parameters were not disclosed in the shareholder report. The resource would be comparable with a current inferred resource. There are no more recent estimates though subsequent geologists visited the property in the 1960s and 1970s, confirming the showings and the drilling was completed. The company will need to twin a significant number of the historic drill holes to upgrade or verify the historical estimate as current mineral resources.\"We are extremely pleased about the acquisition of these premier uranium properties within the prolific Athabasca Basin, some strategically located adjoining large established producers like Cameco Corp. and Uranium Energy Corp. With an indicated historic resource at Bleasdell Lake of 620,700 ...