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Athabasca Nuclear Announces Strategic Alliance for Saskatchewan Uranium Exploration
Athabasca Nuclear Announces Strategic Alliance for Saskatchewan Uranium Exploration Cranbroo...
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[{"type":"text","content":"Athabasca Nuclear Announces Strategic Alliance for Saskatchewan Uranium ExplorationAthabasca Nuclear Announces Strategic Alliance for Saskatchewan Uranium Exploration \nCranbrook, British Columbia CANADA, June 24, 2013 /FSC/ - Athabasca Nuclear Corporation  (ASC - TSX Venture), (\"Athabasca Nuclear\") is pleased to announce that it has entered into a non-binding memorandum of understanding (the \"MOU\") dated June 19, 2013 with Skyharbour Resources Ltd. (Skyharbour)(TSX-V: SYH), Noka Resources Inc. (Noka)(TSX-V: NX) and Lucky Strike Resources Ltd. (Lucky Strike)(TSX-V: LKY) to form a strategic alliance that will expand the company's exploration land coverage, generate working capital, provide third-party funded exploration on its Preston Lake Property (125,375 hectares) and expedite Athabasca Nuclear's ongoing uranium exploration efforts. Subject to entering into the definitive agreement, Athabasca Nuclear shall combine its' Preston Lake Property with Skyharbour Resource's Athabasca Properties to develop and explore a 287,130 hectare (709,513 acre) uranium project base (the \"Alliance Properties\") that will become, by a significant margin, the largest mineral claim position along the highly prospective margin of the Western Athabasca Basin controlled by a single group. The Alliance Properties are strategically located in all directions near Alpha Minerals Inc. and Fission Uranium Corporation's Patterson Lake South (\"PLS\") uranium discovery and they adjoin projects being advanced by Fission Uranium, Corp., Forum Uranium Corp., Aldrin Resources Corp., NexGen Energy Ltd., Zadar Ventures Ltd., Azincourt Resources Inc. and other regional exploration companies. \n\"Preston Lake is our largest exploration project of the seven projects we have in the world-class Athabasca Basin. Through this strategic uranium exploration alliance, Athabasca Nuclear can effectively realize the full potential of its large-scale Preston Lake property while mitigating company specific risk associated with the high cost of making a discovery.  The agreement would see $6,000,000 of exploration on the combined properties over two years with a minimum of $1,000,000 of work planned for 2013. The structure of the alliance lends it itself to a systematic and expanded development program, similar to the strategy deployed by Alpha and Fission ...