Athabasca Nuclear acquires five new claim parcels at Canadian mining site

Athabasca Nuclear Corp. said on Tuesday that it has acquired five new mineral-claim blocks at its Garland Lake nickel-cobalt-PGM site in Labrador, Canada.

The company said these acquisitions were completed through staking, so cash and share payments will not be necessary. The company also said tenure for these areas is not subject to any third-party royalties.

The claim blocks consist of approximately 5,000 acres over five different areas. The company said the new acquisitions total 84 claim parcels. The largest claim block is made up of 28 parcels over an area of approximately 1,700 acres, and the smallest of these consists of five parcels over 300 acres.

The Garland Lake project is focused on extracting nickel, platinum-group metals and cobalt, and the project site is approximately 18 miles from the Voisey’s Bay mine.

Athabasca Nuclear Corp. is focused primarily in the exploration of viable sources of uranium and precious materials in Saskatchewan’s Western Athabasca Basin in Canada. The company currently has two uranium projects, two projects focused on diamond and one focused on the procurement of gold. The company’s website said Athabasca Nuclear is among the largest claim holders in the area.