The interest in uranium properties appears to be rising as of late, with CAT Strategic Metals (CSE: CAT) the latest firm to take part in the ongoing land-grab seen in the sector. The company this morning announced that it has acquired 20,679 hectares of additional claims in Northern Saskatchewan, with its property now bordering both NexGen Energy and Azincourt Energy.
The transaction saw the company acquire what is referred to as the South Preston Uranium Property, which borders Azincourt Energy as well as Orano and Skyharbour’s joint venture property. The property will reportedly be combined with the firms North Expansion and East Expansion properties, bringing the total project size to 29,395 hectares with several notable neighbours.
Currently, the project is viewed as prospectively being host to an extension of a corridor that is currently being prioritized for uranium discovery. That corridor is expected to go through NexGen’s Rook-1 property, as well as through Azincourt’s East Preston Uranium Project, and onto this newly acquired property by CAT. The company is reportedly in the process of defining drill targets for later this year.
The property was acquired via the issuance of 27.5 million common shares and $50,000 paid in cash.
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CAT Strategic Metals last traded at $0.075 on the CSE.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
