ATHA Energy (TSXV:SASK) recently announced that it has entered into a joint venture agreement with Terra Uranium (ASX:T92). This agreement outlines a potential joint venture on uranium exploration projects located in the Athabasca Basin in Saskatchewan.
As per the agreement, Terra Uranium may acquire a 70% interest in ATHA’s Spire and Horizon properties, while ATHA could hold up to a 60% stake in Terra’s Uranium Pasfield Lake property. The terms of the agreement require Terra Uranium to incur a minimum of C$4.75 million in exploration expenditures to acquire the stated interest in the Spire and Horizon Projects.
The Spire and Horizon Projects, situated along the eastern rim of the Athabasca Basin, cover 12 mineral claims spanning 60,965 hectares and show promising signs for uranium exploration. On the other hand, Terra’s Pasfield Project consists of 16 mineral claims spanning 68,768 hectares, located within the Athabasca Basin contiguous to ATHA’s Ridge Project.
ATHA Energy is a Canadian mineral company focused on acquiring, exploring, and developing uranium assets. The company holds a well-balanced portfolio including three 100% owned post-discovery uranium projects.
As of 11:10 a.m. ET, shares of ATHA Energy are down 4.69% to C$0.61. This information is intended for informational purposes only and should not be considered as investment advice. For full disclaimer information, please refer to the provided link.
