Makena Resources Inc. (
TSX: V.MKN,
Stock Forum) said that it has received TSX Venture approval regarding the agreement for the Patterson group of claims prospective for uranium.
This acquisition consists of three claim blocks totaling 16,524 acres which are all located in the Athabasca Basin, Saskatchewan.
According to the
Makena Resources press release, the west block directly borders the recent discovery at the Patterson Lake South (PLS) prospect of
Alpha Minerals Inc.'s (
TSX: V.AMW,
Stock Forum) and
Fission Uranium Corp.'s (
TSX: V.FCU,
Stock Forum). The other two blocks are in the direct vicinity of the discovery.
Management is anticipating the start of operations on this new project in October of 2013.
“Management is planning to initiate an aggressive work plan in October as we develop this new prospect, “ said Conrad Clemiss, director of Makena. “When you couple the fact that the new project borders the PLS discovery with the initiation of our work program and that we are currently the smallest market capitalized company bordering the discovery, it is clearly an exciting period of corporate growth for Makena."
Makena is a junior exploration company dedicated to the aggressive pursuit of world class mineral deposits.
On Friday morning, Makena soared 25% and was trading at $0.20 a share. The company had a maket cap of $3.5 million, based on 17.6 million shares outstanding.