Business
Athabasca Nuclear Acquires Liberty PGE Project
Vancouver, British Columbia (FSCwire) - Athabasca Nuclear Corporation (TSX-V: ASC) ( “ASC” or the “Corporation”) is pleased to report that it has acquired the L
About this update from Dixie Gold Inc.
[{"type":"text","content":"Vancouver, British Columbia (FSCwire) - Athabasca Nuclear Corporation (TSX-V: ASC) ( “ASC” or the “Corporation”) is pleased to report that it has acquired the Liberty PGE Project, a large scale platinum group element (PGE) exploration project located in Quebec, Canada. “The acquisition of the Liberty PGE Project solidifies ASC’s dominant land position in this region. It will provide us with additional exploration opportunities to pursue in conjunction with our Sun Valley PGE Project. Together, our new Liberty PGE Project, and our previously announced Sun Valley PGE Project, represent exciting developments for our shareholders,” stated Ryan Kalt, CEO of the Corporation. About the Liberty PGE Project The Liberty PGE Project claim block is anticipated to encompass 175 mineral cell claims which have been applied for on ground immediately surrounding the Sequoi Project being advanced by Northern Shield Resources Inc. (“Northern Shield”). In aggregate, ASC’s Liberty PGE Project claim cells are expected to cover approximately 8,476 ha, which represents, when combined with the Corporation’s proximate Sun Valley PGE Project, the largest mineral tenure holding in the immediate area. The Liberty PGE Project ground was acquired through map designation and is currently within the pending phase of acquisition. All required fees have been paid and 100% tenure ownership is expected to be confirmed shortly. This new ground was acquired by the Company through an arm’s length exploration services company at a cost equating claim fees plus a 2% royalty. ASC believes that its Liberty PGE Project has similar exploration potential to the adjacent Sequoi Project held by Northern Shield. The Sequoi Project is being explored by Northern Shield as a potential host to part of the feeder system to the sills of the Labrador Trough, as well as a possible relation to the mineralization present at the Huckleberry. Analysis by Northern Shield of regional lake bottom sediments and glacial history suggest that the area hosting the Sequoi Project (Northern Shield) and the Liberty Project (ASC) may proximate to the head of a regional Ni-Cu-PGE dispersion train that dominates the southern Labrador Trough. (see Northern Shield Presentation, http://www.northern-shield.com/misc/Sequoi_Property_Presentation.pdf). The Liberty Project targets portions of the same mag...