Brades Resources and Fission Approved for Clearwater West Option Agreement

Brades Resource Corp. (TSXV:BRA) and  partner, Fission Uranium Corp. were granted approval by the TSX for filing of the Clearwater West project option agreement. With the agreement, Brades has the option to earn up to a 50% interest in the Clearwater West property. In consideration, Brades will issue 1,741,377 common shares to Fission on closing and incur $5 million in exploration expenditures over a 3 year period.

According to the company’s news release:

Fission’s experienced and successful management and technical team, with a track record of two major high-grade uranium discoveries in the Athabasca Basin region in the past 3 years (Waterbury Lake project and the PLS project), will operate and manage Clearwater West. Fission currently holds a 100% interest in Clearwater West.

The $0.7 million budgeted work program for year 1 will consist of a property scale airborne radiometric survey using Fission’s patent pending “System And Method For Aerial Surveying Or Mapping Of Radioactive Deposits” as well as an airborne EM geophysical survey. It is anticipated that radon surveys designed to assist in the detection of subsurface uranium occurrences will be conducted in certain areas to assist in prioritizing drill targets.

Click here to view the full report.