The Conversation (0)
Carmanah Minerals (CSE:CARM) focuses on the acquisition and exploration of energy, critical elements and precious metals exploring its flagship Walker Uranium Project situated in the Athabasca Basin. Carmanah Minerals acquired Hare Hill, a rare earths project tied to both York Harbor's Bottom Brook Property and the Baie Verte Brompton Project.
Carmanah's Walker project is located within the zone and is directly tied to Cameco's properties, which run along the Key Lake Shear Zone and host ten uranium showings with multiple exploration and magnetic survey (EM) targets. Carmanah jointly owns and operates the Walker Claims with Marvel Discovery Corporation (TSXV:MARV), with each company holding a 50-percent stake.
Hare Hill Pluton is a rare earth element project directly contiguous to York Harbour Metals' (TSXV:YORK) recent Bottom Brook Acquisition. It is also adjacent to Falcon Gold’s (TSXV:FG) and Marvel Discovery's Baie Verte Brompton Projects. The project covers 1,564 claims totaling 39,100 hectares in central Newfoundland.
Company Highlights
- Carmanah Minerals is a Canadian junior mining and exploration company focused on rare earth elements and uranium.
- Their flagship project, Walker, is situated in the Athabasca Basin, one of the most uranium-rich regions in the world. Carmanah jointly operates the project with Marvel Discovery.
- The Athabasca Basin currently accounts for roughly 13 percent of global uranium production, and deposits in the region are 20 times richer than the global average.
- Carmanah also owns and operates a rare earths project in Newfoundland, positioned within a new mining district that is quickly gaining recognition for its REE deposits.
- With nuclear power capacity rapidly increasing and the potential of nuclear energy to power decarbonization, demand for uranium is expected to spike over the next several years.
- Uranium is also notable for its cost-competitiveness and capacity to produce near zero-carbon heat, giving it the potential to decarbonize many other sectors of the economy in addition to energy.
- Carmanah's management team comprises mining industry leaders and experts. These individuals are heavily invested, collectively holding a 25-percent stake in the company.
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