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International Prospect Acquires 1% NSR Covering Cameco's Stewardson/Halliday Concessions and Purchases the West Stewardson Uranium Property, Athabasca Basin
Val-d'Or, Québec--(Newsfile Corp. - January 12, 2022) - International Prospect Ventures ...
About this update from International Prospect Ventures Ltd
[{"type":"text","content":"International Prospect Acquires 1% NSR Covering Cameco's Stewardson/Halliday Concessions and Purchases the West Stewardson Uranium Property, Athabasca BasinVal-d'Or, Québec--(Newsfile Corp. - January 12, 2022) - International Prospect Ventures Ltd. (TSXV: IZZ) (the \"Company\" or \"IZZ\"), is pleased to announce that it has entered into an agreement with Uravan Minerals Inc. (\"Uravan\") to acquire a 1.0% net smelter royalty (the \"NSR\") that covers five mineral dispositions (17,795 ha) held by Cameco Corporation (\"Cameco\") and a 100% interest in the West Stewardson Uranium Property (5,251 ha), both located in the Athabasca Basin of northern Saskatchewan (together, the \"Property\") (Figure 1).Martin Walter, CEO of IZZ, commented, \"As we continue to build a solid uranium property foundation, this is an important project and uranium royalty that IZZ has added to its already impressive Canadian uranium portfolio which contains projects in the Athabasca Basin in Saskatchewan, the Elliot Lake Uranium Camp in Ontario, and the Otish Basin in Québec. Coupled with the Company's Beartooth Island Uranium Project, the Uravan property purchase and royalty expands the Company's presence in the Athabasca Basin.\" Four of the five mineral dispositions covered by the NSR (Cameco's Stewardson Property) and the West Stewardson Uranium Property purchased from Uravan are located about 20 north-northeast and along trend of Cameco's Centennial Uranium Deposit which overlies the Dufferin Lake Fault and occurs within the Virgin River structural corridor, south-central portion of the Athabasca Basin. The fifth mineral disposition covered by the NSR (Halliday Property) is located about 20 km northwest of the McArthur River Uranium Mine (70% Cameco and 30% Orano Canada), a large high-grade primary uranium deposit (Figure 1).In consideration for the Property, IZZ will pay Uravan $35,000 and issue Uravan 500,000 common shares of IZZ (the \"Transaction\"). The Company will pay, subject to TSX Venture Exchange approval, a finder's fee to an independent arms-length third party consisting of 21,562 common shares of the Company. The Transaction is subject to the approval of the TSX Venture Exchange. Cameco is the holder of the five mineral dispositions that are subject to the NSR and Cameco has an exclusive option to purchase 100% of the NSR for $5...