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ALX Uranium Corp Drilling Underway at Close Lake Uranium Project in Athabasca Basin in Canada

Mining News - Published on Fri, 20 Sep 2019

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ALX Uranium Corp announced that a diamond drilling program is underway at the Close Lake Uranium Project located in the eastern Athabasca Basin area of northern Saskatchewan, Canada. Close Lake is situated between the Cigar Lake and McArthur River mines, the two highest-grade uranium mines in the world. Orano Canada Inc is operator of the Project, which is currently a joint venture between Orano Canada, Cameco Corporation and JCU (Canada) Exploration Company Ltd. ALX has the right to earn up to a 51% participating interest in Close Lake from Orano.

Orano Canada has commenced a helicopter-supported diamond drilling program in the northern part of the Project consisting of approximately 3,000 metres in up to four holes at an estimated cost of $1.1 million. Initial drill targets are located on the C-14 and C-12 conductive trends, with each trend hosting highly-prospective settings for uranium mineralization identified from the joint venture's previous work at the Project.

Warren Stanyer, CEO and Chairman of the Company, said "ALX has provided its shareholders with an opportunity for a new uranium discovery at Close Lake. With this drilling program, we receive the benefit ofOrano Canada's experience and expertise, and that of the Close Lake joint venture partners, in the world's richest uranium district

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Posted By : Rabi Wangkhem on Fri, 20 Sep 2019
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