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Eagle Plains Resources completes royalty agreement with Denison Mines

Mining News - Published on Mon, 17 Dec 2018

Image Source: Eagle Plains Resources
Eagle Plains Resources Ltd has completed a tri-party agreement with Tarku Resources Ltd. and Denison Mines Corp. whereby Denison Mines has purchased the 1,334 hectare Virgin River property which is contiguous with Denison's South Dufferin Project located immediately south of the Athabasca Basin in northern Saskatchewan. The property is interpreted to overlie the Virgin River Shear/Snowbird Tectonic Zone, a regional-scale geologic feature which is associated with Cameco's Centennial Deposit located 40 kilometres northeast of the property.

As per the terms of the agreement, Denison will reserve in Eagle Plain's favour a 2% Net Smelter Return royalty on all future production relating to the disposition. This royalty can be reduced at any time to a 1 % NSR royalty by paying Eagle Plains CDN 1,000,000. This royalty agreement strengthens Eagle Plain's exposure to potential future production in various uranium camps in Saskatchewan including Patterson Lake South area, where the company owns NSR royalty interests on claims now held by Cameco Corporation, Denison Mines and ALX Uranium.

Source :

Posted By : Rabi Wangkhem on Mon, 17 Dec 2018
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