Mining Moratorium Lifted, Crosshair Project Able to Advance

Crosshair Energy Corp. (TSX:CXX) announced that Newfoundland and Labrador’s Nunatsiavut government has made an amendment to the Labrador Inuit Lands Act that will allow Crosshair to advance its CMB uranium-vanadium project.

As quoted in the press release:

The focus of Crosshair’s exploration activities in Newfoundland and Labrador are the CMB and CMB-JV properties. The CMB Project consists of 2,116 claims in 22 licences and covers 529 square km. It hosts the C Zone – Area 1 – Armstrong Corridor, which has a current Indicated Mineral Resource of 5.19 million pounds of uranium (6.92 million tonnes at 0.034% U3O8) and an additional Inferred Mineral Resource of 5.82 million pounds of uranium (8.17 million tonnes at 0.032% U3O8) between all three zones. It also contains an Indicated Mineral Resource of 42.8 million pounds of vanadium (14.7 million tonnes at 0.15% V2O5) and an additional Inferred Mineral Resource of 93.6 million pounds (28.3 million tonnes at 0.16% V2O5).

Click here to read the full Crosshair Energy Corp. (TSX:CXX) press release.