- Inspiration Energy (CSE:ISP) has expanded its presence in the Athabasca Basin in Saskatchewan by acquiring two uranium properties from Atha Energy (TSXV:SASK)
- Through an option agreement, the company can acquire a 70 per cent interest in the Plateau and Ledge properties
- The Plateau property consists of nine mineral dispositions while the Ledge Property, consists of seven mineral dispositions
- Shares of Inspiration Energy are up 33.33 per cent to C$0.04 as of 10:47 am ET
Inspiration Energy (CSE:ISP) is set to expand its presence in the Athabasca Basin in Saskatchewan thanks to the acquisition of two uranium properties in the region.
In a news release Wednesday, the Vancouver-based company stated that through an option agreement with Atha Energy (TSXV:SASK), it will acquire a 70 per cent interest in the Plateau and Ledge properties.
“These two new, exciting projects we are joint venturing with Atha Energy Corp. dovetail extremely well with our existing portfolio of uranium projects,” Charles Desjardins, CEO of Inspiration Energy, said in a statement. “This new relationship with Atha brings Atha’s foothold and experience in both the Athabasca and Thelon Basins to the table and will provide many exploration synergies for shareholders of Inspiration.”
The Plateau Property is in the southeast region of the Athabasca Basin and includes nine mineral dispositions spanning 27,252 hectares.
The property sits adjacent to, and potentially overlies, portions of the conductive Cable Bay Shear Zone that is host to multiple Saskatchewan Mineral Deposit Index occurrences relating to unconformity-associated Uranium mineralization and Mafic-Ultramafic Intrusion-hosted Ni-Cu-(Co-PGE) mineralization.
Moving forward, it is expected future work at the property will include:
- completing drillhole and surficial geochemistry compilation work initiated by Atha;
- a property-wide airborne gravity survey;
- property-wide ground geochemistry/boulder sampling survey
Meanwhile, the Ledge Property is composed of seven mineral licences encompassing a total land area of 38,784 hectares and is along the northeast margin of the Athabasca Basin.
Future work at the property will entail:
- completing drill hole and surficial geochemistry complication work initiated by Atha;
- property-wide airborne gravity survey;
- property-wide geologic mapping and prospecting; and
- property-wide ground geochemistry/boulder survey
Inspiration Energy is focused on mineral exploration and the acquisition of mineral property assets in Canada. It operates the Maraschino Project, Pag North Lithium Project, Stockwork property, and Bentley Uranium Property.
Shares of Inspiration Energy Corp. (CSE:ISP) are up 33.33 per cent to C$0.04 as of 10:47 am ET.
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