Good readThe below was a 1.5 billion dollar deal. Ary now owns one of the main pieces of the deal. Notice th had uranium and vanadium. They drilled 173 holes and had amazing ore grades.
June 4, 2007
Uranium One Announces Definitive Agreement to Acquire Energy Metals Corporation
Toronto, Ontario; Vancouver, British Columbia; Johannesburg, South Africa – sxr Uranium One Inc. (“Uranium One”) and Energy Metals Corporation (“EMC”) are pleased to announce that the two companies have signed a definitive agreement whereby Uranium One will acquire all of the shares of EMC. The acquisition will dramatically enhance Uranium One’s asset portfolio in the United States and solidify the new Uranium One’s ability to build a leading U.S. uranium producer.
Utah
The Section 2 portion of the Velvet project was extensively explored during the 1970’s with the principal exploratory work and drilling completed by Atlas Minerals and additional drilling completed by Minerals Recovery Corporation (MRC). The drilling was completed adjacent to Atlas Minerals’ Velvet Mine which was mined in Section 3 up to the property line with EMC’s current mineral holdings in Section 2. Atlas and MRC conducted extensive drilling on the lands currently held by EMC including the delineation of four mineralized areas with drilling on a rough grid of approximately 100 foot centers. The available data includes radiometric data from some 173 drill holes completed on the property. The Velvet Mine operated by Atlas Minerals on Section 3 produced approximately 400,000 tons of ore at grades of 0.46% U3O8 and 0.64% V2O5 (approximately 4 million pounds of U3O8 and 5 million pounds V2O5) during the period from 1979 to 1984. The indicated resource estimate for EMC’s Velvet project is 306,000 tons grading 0.34% U3O8 containing 2.1 million pounds of U3O8 at a 0.50% grade thickness cut- off (43-101 Mineral Resource Report, Velvet Mine Uranium Project, San Juan County, Utah. Prepared for Energy Metals by BRS Inc., March 19, 2007).