NCLR.c plans to drill at Mann Lake this Fall. As the 50MA begins to show signs of an inflection, a rebound in Basin Uranium (CSE: NCLR) share price indicates we may have hit a bottom.
Daily buying has outpaced selling for the past 2 weeks of trading for NCLR, and as the 50MA continues to flatten out from the past year of bearish trajectory, things are looking promising.
A second 3500m drill campaign is currently planned for this Fall at the company’s Mann Lake Project, located in the Athabasca Basin. This phase of drilling will follow up on phase 1 results that intersected multiple uranium dominant, anomalous radioactive intervals in basement rocks.
Geophysical surveying of the property commenced in mid-June, so I expect we should see updates on this ahead of drilling later this year.
NCLR.c is currently trading at $.19, valued at $4.62 million.
https://ceo.ca/@newsfile/basin-uranium-commences-geophysical-survey-at-mann