Yesterday CanAm Uranium reported to shareholders that it has completed its airborne EM survey for the Wheeler Beckett and Don McCarthy claims in the eastern Athabasca Basin as well as the initiation of a third party interpretation.
The claims have shown potential to host unconformity-style uranium mineralization related with conductive zones. The survey results were received late November and the company anticipates that it will receive a third party interpretation from Wallcott & Associates by the end of this year.
Ryan Gibson, Chairman of CanAm Uranium Corp., stated, “The availability of the data opens up the opportunity for CanAm to enter into joint venture discussions and to plan the financial projections for the 2008 work programs on the properties. This is a positive development and achievement for the company.”
The Company has an option to acquire a 100% interest in the Wheeler-Beckett claims consisting of 11 adjacent claims that cover about 51,100 hectares of property. The claims are located on the eastern edge of the Athabasca Basin, Province of Saskatchewan, Canada.
CanAm Uranium also has an option to acquire a 100% interest in the Don McCarthy Claim, a single 4087-hectare claim previously controlled by International Uranium Corp/Denison Mines Corp. The Claim is known as a high priority target because of its location near large, high-grade uranium mines and its prospective to host similar mineralization.
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