- Troubadour Resources has closed its acquisition of the high-grade Monarch uranium property in the Theon Basin, Nunavut
- The Vancouver-based miner purchased 100 per cent ownership of the Monarch uranium property by issuing 5.5 million shares and a cash payment of C$35,000
- The company also noted a significant boulder field had been previously defined on the property, with up to 30 per cent uranium boulders discovered on the property
- Troubadour Resources Inc. last traded at $0.09 per share
Troubadour Resources (TSXV:TR) has closed its acquisition of the high-grade Monarch uranium property in the Theon Basin, Nunavut.
The Vancouver-based miner purchased 100 per cent ownership of the Monarch uranium property by issuing 5.5 million shares, and a cash payment of C$35,000.
The company also noted a significant boulder field had been previously defined on the property, with up to 30 per cent uranium boulders discovered on the property.
Contiguous to ATHA Energy Corp.’s (CSE:SASK) uranium project in Nunavut, Monarch sits stratigraphically above the unconformity between the Thelon Basin and the underlying metasediments basement.
The intersection of reactivated faults and unconformities is highly prospective for uranium deposits, which the team compared to properties such as Cigar Lake and Key Lake.
“With the acquisition finally completed we can now move forward to aggressively explore and drill our high-grade uranium property,” Troubadour’s CEO, Blake Morgan, stated in a news release. “The team looks forward to closing our current private placement and getting boots onto the ground ASAP. We expect to have a new presentation and website out in the coming weeks that really showcases our uranium asset in one of the most active regions in the world.”
Troubadour Resources Inc. is a Canadian mining exploration company focused on copper and gold in British Columbia.
Troubadour Resources Inc. last traded at $0.09 per share and its stock is up 20 per cent over the past month.
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