Prime Minister Harper has returned from China with a deal that brings almost $3 billion dollars worth of energy deals which includes uranium from Cameco’s motherlode in the Athabasca Basin to satisfy China’s insatiable hunger for its domestic expansion into the construction of nuclear power plants.
As Willie Loman’s widow said, “Attention Must Be Paid”. The uranium producers are rallying and we believe that the explorers in the Athabasca Basin may start their breakout move as well as major players such as the Chinese look to invest in compelling exploration targets.
Today one of our featured companies Athabasca Uranium reported that two holes encountered significantly anomalous alteration and another containing chloritic alteration at various intervals below the unconformity, a common feature found in the host rocks containing uranium mineralization.
UAX President Gil Schneider commented: “We are extremely pleased with the results from Keefe Phase 1 – we believe that the identification of a quartzite lithology in addition to the uranium indicator metals in the sandstone marks a significant milestone for the Keefe Lake Project. Our Phase 2 drilling, moving to its second hole at present, will help to validate our theories for the Keefe area”.
Read the full press release by clicking here…
Listen to my recent interview with Reza Mohammed, Exploration Manager for Athabasca Uranium, where he explains the significance of hitting alteration in the basin and some of the exciting developments taking place.
Disclosure: Long ATURF and GST Featured Company
Please do your own due diligence before investing in any stock.