Crosshair completes uranium property acquisition & appointment

Crosshair Exploration and Mining Corp. reports that it has closed on the agreement with Universal Uranium Ltd. to acquire interest in its Central Mineral Belt (CMB), Labrador, uranium project, consisting of about 4,741 claims and including the Two Time uranium deposit, Labrador Inuit Land area.

The Two Time Zone is the most advanced prospect within Universal’s 1,184 square kilometre land holdings in the CMB and is a joint venture partnership with Silver Spruce Resources (“Silver Spruce”), whereby Silver Spruce retains a 40% ownership. Crosshair will be the operator of the project. The Two Time Zone has an existing NI 43-101 compliant indicated resource of 2.33 million pounds of uranium (U3O8) (1.82 million tonnes grading 0.058% U3O8) and an additional inferred resource of 3.73 million pounds of U3O8 (3.16 million tonnes grading 0.053% U3O8).

Mark Morabito, CEO of Crosshair Exploration & Mining says:

“We are pleased that the acquisition is complete and we look forward to expanding the Two Time Zone and also advancing a number of exciting discoveries in the area to the drill ready stage.” “Together with our C Zone – Armstrong corridor, Crosshair now controls the only two NI 43-101 uranium deposits in the western portion of the CMB and both are outside the Labrador Inuit Land area.”

For full details of this press release, click this link. Uranium Investing News researchers discovered Cross hair’s acquisition & appointment project described on their website. Follow developments in uranium mining and exploration for free. Sign on to the Uranium Investing Newsletter.