U308 in JV Talks Over Uranium-Vanadium Deposit in Argentina

U3O8 Corp. (TSX:UWE), a Canada-based company exploring for uranium and associated commodities in South America, is in advanced discussions to enter into a joint venture with Petrominera Chubut SE (“Petrominera”), the provincial mining company of Chubut, Argentina. The proposed partnership would bring together U3O8’s Laguna Salada project and adjoining Petrominera concessions for further exploration.

The deposit has an NI 43-101 defined resource of uranium and vanadium.

As quoted in the press release:

The principal points of our negotiations cover exploration of Petrominera’s mineral concessions onto which we believe our Laguna Salada Deposit extends, as well as laying down a framework under which the deposit could be developed on reasonable terms for both parties,” said Dr. Richard Spencer, U3O8 Corp’s President and CEO. “With a preliminary economic assessment (“PEA”) expected later this year, Laguna Salada is well placed as one of the most advanced uranium projects in Argentina at a time when the country imports 100% of its nuclear fuel and is seeking domestic uranium supply.

Click here for the full press release from U3O8 Corp. (TSX:UWE).