Development company Nexus Uranium is moving forward with permitting for an exploration programme at the Cree East project, in the Athabasca basin, having secured an option over the project.
Nexus entered into an option agreement with CanAlaska Uranium, pursuant to which it has the right to acquire up to a 75% interest in the Cree East uranium project.
“We believe this project represents the last large-scale exploration project located in the heart of the Athabasca basin with all the required characteristics necessary to host high-grade unconformity-style uranium mineralisation in either basement-hosted like Arrow or sandstone-hosted like McArthur River or Cigar Lake,” said Nexus CEO Jeremy Poirier.
The project is located on the eastern shore of Cree Lake in northern Saskatchewan, about 40 km west-northwest of Cameco’s Key Lake uranium mill and is comprised of 17 contiguous mineral claims covering 57 752 ha.