The Uranium Industry has recently seen more exposure in the last weeks. The Basin is home to some the highest grade uranium in the world, as well as McArthur River, the largest producing mine. Coming in second in global supply, Canada was surpassed by Kazakhstan in 2009. With the end of the Megaton to Megawatt program, and increased global pressure to use clean energy, many countries have turned to uranium. This coupled with energy security concerns and greenhouse constraints on coal, has continue to keep uranium in the limelight.
Brad Wall, Premier of Saskatchewan, was on official trade business November 17-23 in India. In this time agriculture, clean coal technologies and uranium were discussed. On uranium, Mr. Wall said “We are looking for uranium exports to India and have held preliminary discussions with officials of the Atomic Energy Commission and hope to conclude an early agreement.”
One such early play, 92 Resources (NTY:V), a junior exploration company with claims in the basin, released some management discussion on their Mitchell Lake property today. The 2354 hectare claim is on the eastern edge of the Athabasca Basin, adjoining to the south, Cameco’s Mitchell Lake Zone and 2.2km to the south, UEX’s West Bear Deposit. Significant exploration projects in the immediate area include UEX’s Hidden Bay Project, Fission’s Minor Bay Project, Pitchstone’s Martin, as well as Projects controlled by Denison Mines and JNR Resources. NTY intends to complete a ground survey in the near term to further define diamond drill targets. This program is subject to financing.