thinkahead wrote: ATHABASCA NUCLEAR CORPORATION ACQUIRES GARLAND NORTH AND ORBIS NICKEL-COBALT-PGM EXPLORATION PROJECTS
Athabasca Nuclear Corp. was successfully awarded two new exploration licences by the government of Newfoundland and Labrador, covering the Garland North and Orbis projects, both of which are prospective for nickel-cobalt-PGM (platinum group mentals) exploration.
Garland North Project
The Garland North Project is contiguous with the Garland nickel-cobalt-PGM project being explored by Equitas Resources Corp ("Equitas"). Of note, both the Garland and Garland North projects cover magnetic structures in an area which is 30km from the Voisey Bay Mine owned by Vale. The Garland North Project, held License 023368M as granted by the Government of Newfoundland & Labrador, consists of 72 claim parcels and comprises approximately 4,400 acres. Highlights of the project deemed favourable by Athabasca Nuclear include extensive coverage of an interface between magnetic high and low structures which may provide a favourable exploration environment for nickel-cobalt-PGM. In addition, Athabasca Nuclear advises that its' property border neighbor, Equitas, is about to commence a drill program at the adjacent Garland property to the south.
Garland North Project Map
A large-scale map of the Garland North Project may be accessed at the company's website.
The Garland North Project was acquired by Athabasca Nuclear after a successful staking application and no cash or share payments are owed to any third-parties. The project is royalty-free.
Orbis Project
The Orbis Project covers a distinct circular magnetic anomaly which displays similarities to the circular magnetic anomaly being explored by Equitas less than 10km to the west. The Orbis Project, held by License 023369M as granted by the Government of Newfoundland & Labrador, consists of 209 claim parcels and comprises nearly 12,750 acres.
Orbis Project Map
A large-scale map of the Orbis Project may be accessed at the company's website.
The Orbis Project was acquired by Athabasca Nuclear after a successful staking application and no cash or share payments are owed to any third-parties. The project is royalty-free.
Exploration Plans at Garland North and Orbis
Exploration programs for both Garland North and Orbis are now being evaluated and planned. As part of the license process, Athabasca Nuclear has paid an upfront exploration deposit to the Government of Newfoundland & Labrador, which will be refunded upon completion of the work program required within one year to maintain the project.
Qualified Person
Darren L. Smith, M.Sc., P.Geol., Dahrouge Geological Consulting Ltd., a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
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