Terra Uranium and ATHA negotiating option agreements over Athabasca projects
TSX-V-listed ATHA Energy has announced a nonbinding letter of intent with ASX-listed Terra Uranium for potential option and joint venture (JV) agreements.
Should the companies negotiate a definitive agreement, Terra Uranium could earn a 70% interest in ATHA’s Spire and Horizon properties, while ATHA could earn up to a 60% interest in Pasfield’s Lake property.
The Spire Horizon projects comprised 12 mineral claims totalling 60 965 ha, located on the eastern rim of the Athabasca basin, Saskatchewan, within the company’s East Rim exploration district.
The Pasfield project is comprised of 16 mineral claims totalling 68 768 ha, located within the Athabasca basin. The project is situated within the Cable Bay Shear Zone, contiguous to the north of ATHA’s Ridge project within the Cable Bay exploration district.
ATHA pointed out that Terra Uranium had previously made significant investments into project infrastructure at its Pasfield project, including road access and a year-round exploration camp. As part of the option, ATHA will have access to this infrastructure, which will significantly decrease capital costs for any future exploration programme at Ridge and the Pasfield project.
To acquire its 70% interest in the Spire Horizon project, Terra Uranium must incur $4.75-million in exploration expenditure.
For the Pasfield option, Terra Uranium will grant ATHA four exclusive and separate rights and options to acquire undivided legal and beneficial interests in the project. 
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
