Aim-listed Katoro Gold has expanded into uranium exploration with the acquisition of the White Pine uranium project in Ontario, Canada.

The acquisition was made through its subsidiary, Katoro Canada, which now holds a 100% interest in the project.

White Pine covers an area of 8 036 ha and is located close to the Trans-Canada Highway, about 75 km southeast of the town of Dryden, in the Kenora district of north-west Ontario.

While the project is still in the early stages of exploration, public domain data has indicated the potential for significant uranium discovery at White Pine. Early results include highly anomalous uranium levels in lake sediments collected from the project area.

Geophysical airborne radiometric surveys have revealed the presence of radioactive minerals, while the geological setting between two granitic rock bodies is considered prospective for radioactive mineral occurrences.

The results of a radiometric survey over the area indicate an intense radiometric signature, extending at least 14 km, which aligns closely with the anomalous uranium-in-lake sediments.

Katoro Gold interim CEO Patrick Cullen said on September 9 that the acquisition represented an important first step for the company into uranium exploration, taking place at a promising time in a well-regarded jurisdiction.

“The significant uranium experience within the leadership team and the company's expanded network has enabled us to evaluate and move quickly on this opportunity,” he said.

He noted that Ontario had a rich history of uranium production, with 15 uranium mines having operated between 1955 and the 1990s.

He added that the lake sediment values from the White Pine area were considered some of the highest recorded in the province by the Ontario Geological Survey.

Statistical analysis conducted by Katoro revealed that 29 samples from the area had uranium values above the regional mean, with eight of these samples falling between three and five standard deviations above the mean, and nine samples exceeding five standard deviations, categorising them as ‘extremely anomalous’.

The project will initially involve limited reconnaissance and sampling on the ground, combined with a desktop-based assessment, with an expected cost of about £5 000 over the next six months.

Further work on the project will be determined based on the results of this initial assessment.

In parallel with this acquisition, Katoro Gold has been reviewing other project opportunities in precious and critical metals, including uranium, both in Canada and Southern Africa. The focus remains on high-impact opportunities through staking or acquisition.

The Ontario Ministry of Mines archives have provided useful data, including relatively detailed landform maps that support the view that the elevated uranium values are likely derived from a local source.

The total cost of staking the White Pine project was C$19 200, with each claim costing C$50. The claims are valid for an initial two-year term, with no minimum expenditure requirement during that period.

Following the initial term, Katoro will need to spend C$153 600 a year to extend the claims, although this value may change depending on the project area being reduced or expanded.

Katoro Canada, which was formed to hold the company’s Canadian interests, has been incorporated in British Columbia and registered in Ontario.

As the company progresses with its work at White Pine, it will determine the next steps based on the data collected and the results of its early exploration efforts.