IsoEnergy Ltd. (TSXV:ISO) announced that it has acquired a 100 percent interest in 33 mineral claims from Dawn Lake property.
IsoEnergy Ltd. (TSXV:ISO) announced that it has entered into an agreement with Cameco Corp. (TSX:CCO), Orano Canada Inc. and JCU (Canada) Exploration Company Ltd. to acquire a 100 percent interest in 33 mineral claims from their Dawn Lake property constituting the 6,800 hectare Dawn Lake north block in the Eastern Athabasca Basin of Saskatchewan.
As quoted in the press release:
In exchange for a 100 percent interest in the property, IsoEnergy will pay C$200,000 in cash and will issue 3,330,000 common shares to the Joint Venture. The shares will be subject to a 4-month hold period and the transaction is subject to TSXV approval. Initial exploration efforts consisting of data compilation and interpretation will begin immediately. This may be followed by a core drilling program in the second half of 2018 that would evaluate high priority targets at both the Dawn Lake North property and the original Geiger property.
Craig Parry, CEO, commented:
I’m very pleased with the addition of the Dawn Lake North claims to our Geiger property as it furthers our objective of acquiring highly prospective assets in the Eastern Athabasca Basin near uranium mining and milling infrastructure. IsoEnergy is uniquely positioned to apply the basement-hosted uranium experience of its Officers and Directors gained from recent discoveries such as the Arrow and Gryphon deposits to properties on which there has been limited testing of basement potential.
We continue to believe in the strong fundamentals of the uranium sector and will continue to execute on our strategy of acquiring undervalued assets during this time of unsustainably low uranium prices and ahead of the inevitable return to normalized pricing levels.