Uranium exploration company IsoEnergy has signed an agreement to wholly acquire three mineral claims constituting the Geiger property in the Eastern Athabasca Basin of Saskatchewan, Canada.

The agreement was signed with a joint venture (JV) comprising AREVA Resources Canada, Cameco and JCU (Canada) Exploration Company.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Under the terms of the agreement, IsoEnergy will offer a cash payment of C$100,000 and issue one million common shares to the JV.

IsoEnergy CEO Craig Parry said: “The acquisition of Geiger fits well with our exploration strategy to acquire, explore and develop highly prospective assets in the heart of the eastern Athabasca Basin near current uranium mining and milling operations.”

The proposed acquisition is located 13km north-west of IsoEnergy’s Radio property in an area containing multiple uranium deposits, mines and mills. 

“The acquisition of Geiger fits well with our exploration strategy to acquire, explore and develop highly prospective assets in the heart of the eastern Athabasca Basin near current uranium mining and milling operations.”

It is also located in geological proximity to the Wollaston-Mudjatik transition zone, which is a crustal suture related to uranium deposits in the basin. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company noted that it will focus on exploring the basement hosted uranium mineralisation at the property.

IsoEnergy exploration vice-president Steve Blower said: “The claims are a good match for IsoEnergy as they are underlain by prospective geology under thin sandstone cover, encompass high-grade basement hosted uranium with drill-ready targets, and are underexplored for basement hosted mineralisation.”

IsoEnergy is planning to undertake initial exploration work in the second half of this year, with a provision for a drilling programme to evaluate extensions of the mineralisation intersected in drill hole HL-50 and other targets.