Okapi Resources Logo

Closed Acquisition Of Athabasca Exploration Properties And Announcement Of Exploration Strategy

Okapi Resources Limited (ASX: OKR) (Okapi or the Company) is pleased to announce that it has closed its agreement with ALX Resources Corp (a company incorporated in British Columbia) (TSXV:AL) (ALX) to acquire a portfolio of six advanced exploration projects in the world’s premier high grade uranium district, the Athabasca Basin (AthabascaProjects).


Key Points:

  • Closed acquisition to acquire six advanced exploration properties in the Athabasca Basin.
  • Athabasca Basin is the world’s premier uranium district.
  • Worked closely alongside a highly reputable technical services firm based in Saskatchewan to assist in ranking and prioritising the properties by geological prospectivity.
  • Due diligence showed that there are numerous high priority targets across the properties.
  • Focused on drilling on two of the six properties which include Middle Lake and Newnham Lake, identified as having the best exploration potential.
  • Okapi has already lodged a permit to drill on the Middle Lake Project prior to closing and is in the process of submitting a drill permit for Newnham Lake.
  • Drilling will proceed on selected targets once the necessary permits are in hand.
  • The Company will also be looking to consolidate and expand its holdings in the Athabasca Basin through some highly accretive acquisitions during 2022.

The Athabasca Projects includes 75 granted mineral claims covering over 55,000 hectares. Importantly, all of the projects are located along the margin of the Athabasca Basin or in the Carswell Impact Structure where depth to the unconformity is relatively shallow being 300 metres or less and typically closer to 100 metres, making them ideal for targeting shallow high-grade uranium deposits.

Click here for the full ASX Release

This article includes content from Okapi Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

OKR:AU
The Conversation (0)

Global Atomic Announces 2023 Results and publishes Dasa Uranium Project Feasibility Study

Dasa Uranium Project Remains on Schedule to Produce Yellowcake in Q1 2026

Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) announced today its operating and financial results for the year ended December 31, 2023 .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Denison Announces Signing of Sustainable Communities Investment Agreement

Denison Mines logo (CNW Group/Denison Mines Corp.)

Denison Mines Corp. ("Denison") (TSX: DML) (NYSE American: DNN) is proud to announce the signing of a Sustainable Communities Investment Agreement (the "Agreement") with the municipalities of the Northern Village of Beauval the Northern Village of Île-à-la Crosse, the Northern Hamlet of Jans Bay and the Northern Hamlet of Cole Bay (the "Communities"). View PDF version

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Text saying "Uranium Night" superimposed over band playing music.

Uranium Night at PDAC Raises $10,000 for Charity

At this year’s Uranium Night at the Prospectors & Developers Association of Canada (PDAC) convention, the event's sponsors secured a $10,000 donation for the charity Haven Family Connections.

With the uranium sector having its hottest season in years, there was much to celebrate at the event, which was held on March 4 at the Lucky Clover Irish Pub in Toronto. Early in the year, the uranium spot price broke through the US$100 per pound level for the first time since 2007, rising to a 16 year high of US$106 as demand continued to outpace supply.

Although the price has since pulled back to the US$90 level, industry experts still predict a bright future for the energy commodity as countries around the world pursue nuclear power as a strategy for meeting clean energy goals.

Keep reading...Show less

Laramide Outlines 2024 Australian Exploration Plans

Laramide Resources Ltd. ("Laramide" or the "Company") (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is pleased to announce 2024 work plans for Australia which include a large drill campaign of up to 12,000m across multiple targets at the Westmoreland Uranium Project in NW Queensland and into the Murphy Uranium Project in the Northern Territory. Two drill rigs have been secured and logistical plans are well advanced for a campaign that will build on last year's successful exploration effort which saw 40 holes completed across 4,000 cumulative meters. Drilling is expected to commence in approximately 6-8 weeks' time at the conclusion of the current wet season.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
C29 Metals

C29 Acquires Transformative High-Grade Uranium Project

C29 Metals Limited (ASX:C29) (C29, or the Company) is pleased to announce it has entered into a binding share sale and purchase agreement (Acquisition Agreement) with CA Metals Pty Ltd (CA Metals) and Ulytau Resources Ltd (Ulytau Resources) to acquire a 100% legal and beneficial interest in a granted exploration licence located in Kazakhstan (Ulytau Uranium Project).

Keep reading...Show less
GTI Energy

GTI Energy


Keep reading...Show less

Latest Press Releases

Related News

×