Business
Atomic Minerals Corporation Proceeds to Private Placement for Up to $1.2 Million
VANCOUVER, BC / ACCESSWIRE / November 30, 2021 / Atomic Minerals Corporation (formerly Resol...
About this update from Atomic Minerals Corporation
[{"type":"text","content":"Atomic Minerals Corporation Proceeds to Private Placement for Up to $1.2 MillionVANCOUVER, BC / ACCESSWIRE / November 30, 2021 / Atomic Minerals Corporation (formerly Resolve Ventures Inc.) (\"ATOMIC MINERALS\" or the \"Company\") (TSXV:ATOM) is pleased to announce that further to its price reservation, the Company will proceed with a Private Placement of up to 16,000,000 Units (\"Units\") at $0.075 per Unit for gross proceeds of up to $1,200,000.Each Unit is comprised of one common share at $0.075 per common share and one warrant exercisable at $0.10 per common share for two years from closing. The Company may pay finders fees.Use of proceeds will be for the technical advancement of its newly optioned Lloyd Lake Uranium Project (\"Lloyd Lake\"), and general working capital to enable the Company to pursue further uranium assets. The Private Placement is subject to the final acceptance of the TSX Venture Exchange.Atomic Minerals President and CEO Clive Massey commented, \"After recently announcing entering the Uranium space we are very excited, not only about our newly optioned Lloyd Lake Uranium Project, but also having a Uranium talent like Foster Wilson joining our board will be extremely important as we continue to review and acquire additional uranium properties.\"About the Lloyd Lake ProjectThe Lloyd Lake project lies immediately south of the western Athabasca basin approximately 90 km SE of Fission Uranium's Patterson Lake project. Lloyd Lake was extensively explored by Western Athabasca Syndicate in 2013 as part of the Preston property, generating a significant dataset, which includes: airborne EM-magnetic and radiometric surveys, follow-up prospecting, systematic lake-bottom sediment sampling and lake-bottom water sampling for radon gas analysis, and broad soil, biogeochemical and radon-in-soil surveys, generally at 100 m to 200 m sample spacing and 200 m to 400 m line spacing. Radon gas is a decay product of uranium with anomalous concentrations indicative of potential uranium occurrences. Subsequent exploration concentrated on anomalous areas identified by the earlier surveys, and included phases of mapping and prospecting, a versatile time-domain electromagnetic (VTEM plus) and aeromagnetic survey and an airborne radiometric-VLF-EM and magnetic survey. Atomic's technical team is in the process of compiling and reviewi...