IsoEnergy (TSX:ISO,OTCQX:ISENF) and Purepoint Uranium (TSXV:PTU,OTCQB:PTUUF) have formed a joint venture focused on the exploration and development of uranium properties in Saskatchewan’s Athabasca Basin.

The collaboration will consolidate a portfolio of 10 uranium projects covering over 98,000 hectares in the region, which is renowned for its rich uranium resources and high-grade discoveries.

The joint venture will bring together assets from both companies, including IsoEnergy's Geiger, Thorburn Lake, Full Moon and other properties, alongside Purepoint’s Turnor Lake and Red Willow projects.

The assets cover ground along the Larocque Trend, a regional structure that is home to high-grade uranium properties including Cameco (TSX:CCO,NYSE:CCJ) and Orano’s Dawn Lake joint venture.

In total, IsoEnergy will contribute eight properties to the joint venture, while Purepoint will contribute two. Together, these assets will form a large, contiguous land position on the east side of the Athabasca Basin.

IsoEnergy will initially hold a 60 percent stake in the joint venture, while Purepoint will manage the exploration phase with a 40 percent interest. They will both have the option to adjust the ownership structure to a 50/50 setup within six months by exercising put/call options, and IsoEnergy will take operational control in the pre-development phase.

Purepoint will undertake a 10:1 share consolidation in connection with the deal, and will also complete a non-brokered private placement for gross proceeds of up to C$2 million. IsoEnergy will subscribe for C$1 million of the financing.

Philip Williams, CEO and director of IsoEnergy, emphasized the synergies between the firms in a press release.

"Purepoint has proven itself an exceedingly capable operator and the Joint Venture will allow us to have several of our highly prospective projects advanced, while remaining focused on dual priorities of exploring and advancing the Larocque East project ... and restarting our past producing uranium mines in Utah," he said.

Purepoint CEO Chris Frostad also spoke about the benefits of the partnership in Tuesday's (October 22) announcement, commenting, "By combining forces and pooling resources, we are accelerating exploration efforts and setting the stage for potential large-scale discoveries that can meet the growing demand for clean energy."

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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Purepoint Uranium and ALX Resources are clients of the Investing News Network. This article is not paid-for content.