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Mar. 15, 2012 06:20PM PST
Athabasca Uranium Inc. (TSXV:UAX) has mobilized its Keefe Lake drill camp, and has completed the acquisition of a 100% ownership interest in the McCarthy Lake Project.
As quoted in the press release:
Keefe Lake Drill Program
The Company is pleased to report the mobilization of crew and equipment to its Keefe Lake drill camp in anticipation of resuming drilling for its 2012 Phase 2 drilling program. The Company is following up its successful 2011 drill program, in which alteration was encountered in three of its five holes. A total of up to ten 350-meter holes (3,500 meters total) are planned, including drilling a minimum of one to two holes at Volhoffer Lake (Keefe K-2) to test subsurface conductors. Comprehensive interpretation of drill results from Phase 1 is ongoing and should be available shortly.
McCarthy Lake Acquisition
The Company has completed the acquisition of the remaining 50% interest in its McCarthy Lake Project, details of which were announced in the Company’s news release dated February 28, 2012. Athabasca Uranium is now the 100% owner (subject to a 2.5% NSR royalty) of the 4,082-hectare Project, located in the Athabasca Basin region near the West Bear uranium deposit. The Company is designing an exploration program for McCarthy Lake which will likely include an IP resistivity survey and drilling to test the RZ10 conductor array, also as announced in February.
Click here to read the Athabasca Uranium Inc. (TSXV:UAX) press release
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