- International Prospect Ventures (IZZ) will become the 100-per-cent owner of the Beartooth Island Uranium Mining Claim
- The company entered into a purchase agreement with an arm’s length party for the acquisition
- It will issue 300,000 of its common shares and pay C$10,000 in cash for the remaining interest
- The Beartooth Island Uranium Project comprises 22,581 hectares on Saskatchewan’s Athabasca Basin
- International Prospect Ventures is a junior mineral exploration company that holds interests in mining claims in Ontario and Western Australia
- International Prospect Ventures (IZZ) closed the day down 3.03 per cent trading at $0.16 per share
International Prospect Ventures (IZZ) will become the 100-per-cent owner of the Beartooth Island Uranium Mining Claim.
The company entered into a purchase agreement with an arm’s length party for the acquisition, for which it will issue 300,000 of its common shares and pay C$10,000 in cash.
The property consists of one mineral claim covering 5,940 hectares in the Northwest portion of Saskatchewan’s Athabasca Basin.
The company has also staked four additional mineral claims originally associated with the property. The four claims and the property together form the Beartooth Island Uranium Project totaling 22,581 hectares.
Uranium-bearing boulders were first noted on Beartooth Island in 1976.
In 1977, the Maurice Bay Uranium Deposit was discovered about 20 km Northwest on the shore of Lake Athabasca. It eventually yielded 1.5 million pounds of uranium.
In early 2008, a Quantec Geoscience Spartan magnetotelluric survey was completed over the claims. Interpretation of the survey presented 14 priority targets and 45 secondary targets. This was followed by a four-hole diamond drilling program, also in 2008, which intersected a basement unconformity and anomalous uranium concentrations.
International Prospect Ventures is a junior mineral exploration company that holds interests in mining claims in Ontario and Western Australia.
International Prospect Ventures (IZZ) closed the day down 3.03 per cent trading at $0.16 per share.
