Athabasca Uranium Inc. (CVE:UAX,OTCQX:ATURF) announced that it has completed the option to acquire Volhoffer Lake property in the Athabasca Basin and consolidate three of its Basin projects.
The press release is quoted as saying:
As announced on September 15, 2011, the 8,530 hectare Volhoffer Lake Project is comprised of two contiguous claims on the eastern margin of the uranium-rich Athabasca Basin, the most productive uranium-producing region in the world.
The Volhoffer acquisition includes a highly prospective exploration trend identified by the Company that extends from its Webb River Project through its Keefe Lake property – these three projects will be consolidated into one to form the larger Keefe Lake Project, which will now have an areal extent of over 32,000 contiguous hectares in the shallow southeastern region of the Athabasca Basin. There is no reduction in size to any of the Projects.
Athabasca’s President & CEO, Gil Schneider commented:
“Without question, Keefe Lake is a bonafide marquee project, rivalling other significant projects in the area, such as Moore Lake (Denison / JNR) and Hathor’s Russell Lake project. Athabasca’s footprint in the Basin has grown significantly – having control of this area means we can leverage exploration economies-of-scale on our own aggressive time-line and focus on making that next Basin discovery.”