Basin Uranium Corp. – CSE: NCLR, OTC: BURCF, FRA: 6NP0

A Canadian Junior Exploration Company

Basin Uranium Corp. (Stock Symbols – CSE: NCLR, OTC: BURCF, FRA: 6NP0) is a Canadian junior exploration company focused on diversified mineral resources supporting the green energy industry.  Basin Uranium Corp recently acquired an option to 75% interest of the Mann Lake uranium project, located in the prolific Athabasca basin in Northern Saskatchewan, Canada, and is also currently undertaking the CHG gold exploration project located approximately 15 kilometers from the town of Clinton in British Columbia. The Basin Uranium Corp CHG Project consists of seven contiguous mineral claims covering 3,606 hectares.

Mann Lake Uranium Project

Basin Uranium Corp’s Mann Lake Uranium Project is a large project covering over 8,500 acres located in the eastern Athabasca Basin in northern Saskatchewan. It is strategically located close to the McArthur River Mine, the largest high-grade uranium mine in the world, and close to other major uranium deposits. In October, 2021 Basin Uranium Corp entered into an agreement with Skyharbour Resources Ltd. to acquire up to a 75% interest in the Mann Lake Uranium Project.

Mann Lake Project. Source: Basin Uranium Corp
Mann Lake Project. Source: Basin Uranium Corp

Basin Uranium Corp will contribute cash and exploration expenditure consideration totaling CAD $4,850,000 over a three-year period. Of the Project Consideration, $850,000 will be in cash payments to Skyharbour and $4,000,000 will be in exploration expenditures on the project. Basin Uranium Corp will also issue to Skyharbour the equivalent value of CAD $1,750,000 in shares of the company over the three-year earn-in period.

The Mann Lake property is next to the Mann Lake Joint Venture. Denison Mines (52.5%) is in the joint venture with Cameco (30%) and Orano (formerly AREVA) (17.5%). In 2014, Denison Mines acquired International Enexco and its 30% interest in the joint venture after finding high grade uranium in a drill program. The drill program found uranium that was 2.31% over 5.1 metres including 10.92% over 0.4 metres.

The Mann Lake Uranium Project has seen over $3 million of previous exploration work, including recent geophysical surveys and two diamond drill programs totaling 5,400 metres. The geophysical surveys identified areas where there could be uranium, and the drill programs went into those areas to see if there was any uranium. They found some in a place with high levels of boron (up to 1,758 ppm), which is common at the McArthur River uranium mine.

Wray Mesa Project

Wray Mesa is a project with 308 unpatented lode claims in San Juan County, Utah. You can get to it by car on Utah State Highway 46 or by unpaved Forest Service Roads. It has access to power and water and it’s close to the town of La Sal. The Wray Mesa project is next to Energy Fuel’s fully-permitted and production-ready La Sal project which includes a number of past-producing uranium and vanadium mines. The La Sal project has resources of 4.1 million pounds of uranium in the Measured and Indicated category, 21.5 million pounds of vanadium, and 0.4 million pounds of uranium in the Indicated category. The project is 100% owned by Basin Uranium Corp.

Wray Mesa Project Area. Source: Basin Uranium Corp
Wray Mesa Project Area. Source: Basin Uranium Corp

Formerly Black Shield Metals Corp

Basin Uranium Corp. was incorporated in October 2017 and was formerly named Black Shield Metals Corp.

Contact:

Basin Uranium Corp.

1503-905 West Pender St.
Vancouver, BC, V6C 1L6

Email: [email protected]

www.basinuranium.ca

Basin Uranium Corp. Stock Performance & Market Cap

Stock Symbols – CSE: NCLR, OTC: BURCF, FRA: 6NP0

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While considering this individual company, also take a look at these other uranium stocks to include in your portfolio.

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