Athabasca Uranium Completes Keefe Lake Option First Phase – Prepares to Drill

Athabasca Uranium Inc. (TSXV:UAX,OTCQX:ATURF) reports its completion of  its option to acquire the Keefe Lake property and prepares drilling at its property.

The press release is quoted as saying:

The 12,832-hectare Keefe Lake Project is comprised of three claims lying approximately 22 kilometers southeast of the McArthur River Mine, the world’s largest high-grade uranium mine with proven and probable reserves of 335.5 million pounds U₃O₈ and an average reserve grade of over 15%.  The Keefe Lake Project was most recently explored by Mega Uranium in 2007-2008, with approximately $3,000,000 expended on exploration in a two phase work program that included an Aeroquest 737 line-kilometer Mag/EM airborne survey and a high-definition 2D seismic reflection survey consisting of 50 kilometers of access line as well as 69 line-kilometers of data acquisition over 8 seismic lines.

Athabasca Uranium’s President and CEO, Gil Schneider says:

“The completion of this marquee acquisition is an important milestone for Athabasca Uranium.  Based on the wealth of data from the airborne and seismic surveys, the Company is now preparing to drill high value targets at Keefe Lake shortly. Shareholders can look forward to hearing more about this drill program in the near term.”

Click here to access the entire news release.

Click here to access Athabasca’s company profile.(TSXV:UAX,OTCQX:ATURF)