Resolve Ventures Inc. has announced its strategic entry into the uranium sector by optioning the Lloyd Lake Uranium Project in Saskatchewan's prolific Athabasca Basin. This move positions Resolve Ventures to capitalize on the growing demand for green energy solutions, with nuclear power identified as a key alternative to fossil fuels.
Resolve Ventures Inc. has officially entered the uranium exploration space by securing an option agreement with Kode Mineral Exploration Ltd. This agreement grants Resolve Ventures the opportunity to acquire a 100% ownership interest in the 6,168-hectare Lloyd Lake Uranium Project. The project is strategically located in the Athabasca Basin, a region renowned for its high-grade uranium deposits, near the village of La Loche, Saskatchewan, Canada.
Clive Massey, President & CEO of Resolve Ventures, emphasized the company's excitement about this venture, citing uranium as a sensible and cost-effective solution to the impending global power shortage. He highlighted the increasing momentum in the green energy sector and the recent pledge at COP26 to phase out coal for power generation, positioning nuclear power as the optimal alternative.
The Lloyd Lake Project is situated approximately 90 km southeast of Fission Uranium's Patterson Lake project. It boasts a substantial historical dataset from extensive exploration conducted by the Western Athabasca Syndicate in 2013 as part of the Preston Property. Previous work included:
The primary exploration target at Lloyd Lake is an approximately 8.5 km northeast-trending zone. This zone is characterized by a magnetic break concurrent with an array of parallel EM conductors, a typical exploration signature in the Athabasca Basin. Anomalous radon gas, as well as elevated uranium and gold values in lake sediments, have also been identified within this target zone.
To acquire a 100% ownership interest in the Lloyd Lake Project, Resolve Ventures must fulfill the following commitments to Kode Mineral Exploration Ltd.:
Upon completion of these commitments, Resolve Ventures will hold a 100% interest. A 1% Net Smelter Royalty (NSR) will be payable to the Vendor upon the commencement of commercial production. Resolve Ventures retains the right to purchase this 1% NSR from the Vendor for $1,000,000 at any time.
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