CanAm Uranium Corp. (CAUI.OB) reports that it has entered into a Property Option Agreement with Geomode Mineral Exploration Ltd. to acquire a 100% interest in a prospective mineral claim, the Don McCarthy Claim, (the “Claim”), located in the Athabasca Basin.
The single 4087-hectare claim (S-110884) was previously controlled by International Uranium Corp/Denison Mines Corp., which still have a significant presence in the area.
The Claim is considered to be a high priority target due to its proximity to large, high-grade uranium mines and its potential to host similar mineralization. The Claim is located on the eastern edge of the Athabasca Basin, approximately 15.5 miles (24km) southeast of Cigar Lake and 21.7 miles (35km) east of the McArthur River Mine (Cameco/Cogema), the largest, high-grade uranium mine in the World (reserves of 389.1 million lbs with an average grade of 24.3% U3O8 and producing 18.7 million lbs per annum).
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