Mike Fagan,
Editor
Feb. 16, 2024
Atco Mining Inc. (CSE: ATCM)(OTC: ATMGF) — currently trading undiscovered around C$0.08 per share — has signed an LOI to acquire up to a 75% interest in the Atlantic uranium project from Standard Uranium.
The project is situated in the Athabasca Basin of northern Saskatchewan, Canada, and marks an expansion of the company’s clean energy initiatives in the country. Atco additionally holds eight 100%-owned “green hydrogen storage potential” salt projects — spanning a combined 200-plus sq km — in Newfoundland’s St. Georges Bay Basin.
The pending acquisition of the Atlantic uranium project gives Atco and ATCM shareholders exposure to a booming uranium market that has seen the uranium spot price rise 250% (and up 15% so far this month) to its highest level since November 2007 at US$106 per pound.
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View ReportsThe fully-permitted, 3,061-hectare Atlantic project consists of 7 mineral claims, covering 6.5 km of an 18-km-long east-west trending conductive corridor located due west of IsoEnergy’s Hurricane deposit.
Atco Mining CEO Etienne Moshevich — whom you’re about to hear from directly in our exclusive interview — commented on the pending acquisition via press release:
“We are extremely excited to have signed this agreement with Standard Uranium. Given its close proximity to IsoEnergy’s Hurricane deposit as well as the historical exploration work conducted on the project, we believe the Atlantic Project has an incredible opportunity to host high-grade uranium mineralization. With the permits fully in place and the drillers ready to go, we are eager to move this agreement forward and give our shareholders a drill program in a very exciting uranium sector.”
With the start of drilling just a few weeks away, Atco, upon consummation of the agreement, will additionally benefit from the industry-leading talent of Standard Uranium’s exploration team. Standard recently completed a high-res ground gravity survey on the Atlantic project’s western claim block, which has successfully advanced the pre-drill targeting process.
With a field crew onsite, and with the drill-bit set to turn, an uptick in news flow on an exciting uranium exploration project in the famed Athabasca Basin is now in the cards for Atco and ATCM stakeholders.
To get the skinny on the new spirited push into uranium, our own Gerardo Del Real of Junior Resource Monthly tracked down Atco Mining CEO Etienne Moshevich for an overview of the Atlantic project, plus an update on the company’s core salt dome projects in Newfoundland. Enjoy!
Watch the latest interview with Atco Mining.
Yours in profits,
Mike Fagan
Editor, Resource Stock Digest