Athabasca Nuclear Corporation: Western Athabasca Syndicate Receives Drill Permits
27 Febrero 2014 - 7:00AM
Marketwired
Athabasca Nuclear Corporation: Western Athabasca Syndicate Receives
Drill Permits
CALGARY, ALBERTA--(Marketwired - Feb 27, 2014) - Athabasca
Nuclear Corporation (TSX-VENTURE:ASC) ("Athabasca Nuclear" or
"Corporation") is pleased to announce that the Western Athabasca
Syndicate has received drill permits for its flagship Preston Lake
Uranium Property (the "Property"). A drill program is slated to
commence in the second week of March and will test multiple
prospective targets identified by the extensive fieldwork done on
the Property to-date.
The 246,643 hectare Preston Lake Property is the largest mineral
tenure land base proximal to Fission Uranium Corp.'s Patterson Lake
South ("PLS") high-grade uranium discovery, as well as the recent
discovery made by NexGen Energy Ltd. (NexGen) on its Rook 1 Project
(the "Arrow Prospect") (see NexGen news release dated Feb. 19,
2014). The Syndicate holds title to an extensive and geologically
prospective property package in the southwest Athabasca Basin
region including properties strategically located in all directions
near the PLS and NexGen discoveries.
Preston Lake Property Map and Regional Exploration Corridors:
http://www.athabascanuclear.com/wp-content/uploads/2014/02/Patterson_Lake_Regional_Map.pdf
Athabasca Nuclear and the Syndicate are currently conducting a
ground EM survey to further refine conductor trends and drill pad
locations. Athabasca Nuclear reports that the 2013-2014 exploration
expenditures on the Property to-date total approximately $2.1
million and have delineated numerous geological, geophysical and
geochemical targets associated with eight prospective uranium
exploration corridors. The Syndicate continues to employ a
systematic, proven exploration methodology that has led to numerous
uranium discoveries in the region and throughout the Athabasca
Basin. Work to-date has been effective in identifying numerous
high-quality targets on the Property with geologic features and
pre-drill exploration indicators similar to those at the nearby PLS
and NexGen discoveries.
Preston Lake Property - Gravity Survey Coverage:
http://www.athabascanuclear.com/wp-content/uploads/2014/02/Preston_Lake_Exploration_Update.jpg
PDAC Conference Invitation
Athabasca Nuclear is pleased to report that the Western
Athabasca Syndicate will have a booth at the upcoming PDAC
Conference in Toronto from March 2 - 5. The booth number is 2740
and all four companies comprising the Syndicate will be present. We
invite you to stop by to meet Syndicate executives and get a full
update on the progress being made by the Syndicate on its projects
in the Patterson Lake region of the Athabasca Basin.
Qualified Person:
Athabasca Nuclear Director, Charles C. (Chuck) Downie, P.Geo.,
is the Qualified Person as defined by National Instrument 43-101
and has approved the technical information in this release.
About the Preston Lake Property:
The 246,643 hectare Preston Lake Property is the largest land
package proximal to the Patterson Lake South (PLS) high-grade
uranium discovery, owned by Fission Uranium Corp. The Syndicate
continues to employ a systematic, proven exploration methodology
that has led to numerous uranium discoveries in the region and
throughout the Athabasca Basin. This has been very effective in
identifying numerous high-quality targets with similar geological
features and exploratory indicators also present at the nearby PLS
discovery and in other deposits in the Athabasca Basin. The
Corporation cautions that mineralization present on proximal
properties is not necessarily indicative of mineralization on the
Syndicate's Property.
About Athabasca Nuclear Corporation
Athabasca Nuclear Corporation (TSX-VENTURE:ASC) is a junior
uranium exploration company focused on the exploration and
advancement of its significant uranium portfolio in Saskatchewan
including the Preston Lake, Patterson Lake East, Botham Lake, Parry
Lake, Martin River, Karras River and Spring uranium projects. For
more information on each of these projects, please visit
www.AthabascaNuclear.com.
Athabasca Nuclear is the Operator of the Western Athabasca
Syndicate, a group exploration effort of a 287,130 hectare (709,513
acre) package of uranium properties which is the largest land
position along the highly prospective margin of the Western
Athabasca Basin controlled by a single group (the "Preston Lake
Project"). Under the terms of the agreement, each of the member
companies have an option to earn 25% of the five uranium properties
comprising the Western Athabasca Syndicate Partnership by making a
series of cash payments, share payments and incurring their
pro-rata amount of the total $6,000,000 in exploration expenditures
over the two-year earn-in term of the agreement. The properties
were acquired for their proximity to the Patterson Lake South
discovery and interpreted favorable geology for the occurrence of
Patterson Lake South-style uranium mineralization. The bulk of the
syndicate land package is bisected by all-weather Highway 955 which
runs north through the Patterson Lake South discovery to the former
Cluff Lake uranium mine.
Ryan Kalt, Chief Executive Officer (Interim)
Forward-Looking
Statements
This news release may contain forward-looking statements.
Forward-looking statements address future events and conditions and
therefore, involve inherent risks and uncertainties. Actual results
may differ materially from those currently expected or forecast in
such statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Athabasca Nuclear CorporationRyan Kalt, LL.M., M.B.A.Chairman
and Acting
CEO403-470-3265ryan.kalt@athabascanuclear.comwww.AthabascaNuclear.com
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