ALX Uranium to Sells Mineral Claims to Cameco

ALX Uranium Corp. (TSXV:AL,OTCQX:ALXEF) announced that it’s entered into a purchase and sale agreement with Cameco Corp. (TSX:CCO,NYSE:CCJ) regarding 27 mineral claims that are peripheral to, and along the margins of, ALX’s Athabasca Basin-based Hook-Carter property.
As quoted in the press release:

The Hook-Carter Property is located within the PLS camp. The property covers parts of the northeastern end of the Derksen, Carter and Patterson Lake conductor trends, which host numerous uranium showings, deposits and recent discoveries, including the Triple R deposit (Patterson Lake South), and the Arrow and Spitfire discoveries.
As shown on “Map 1”, the sale is comprised mostly of claims isolated from the main contiguous block of ALX’s Hook-Carter Property. It also includes a small, northeastern portion of the main block, covering ground with depths to the unconformity much deeper than the main parts of the property where ALX intends to focus its exploration. The isolated claims are within (contiguous with) Cameco’s claims adjacent to ALX’s property. The purchased claims cover a total of 7,064 hectares; ALX still retains a total of 16,461 hectares within its Hook-Carter Property after the sale (See “Map 2”).
There are several drill-ready targets on the Hook-Carter Property based on both historic exploration, and exploration completed more recently by ALX. The Company is evaluating exploration plans to be carried out later this winter on the property, to potentially include surface exploration (geophysics) on the Carter trend and diamond drilling on the highest priority target on the Derksen trend.

Click here to read the full ALX Uranium Corp. (TSXV:AL,OTCQX:ALXEF) press release.