26 Mar (NucNet): A Japanese-Canadian partnership is to carry out a new joint exploration for uranium in Canada’s Saskatchewan province.
The Japan Atomic Industrial Forum (JAIF) said the Japan Oil, Gas and Metals National Corporation (JOGMEC) concluded a contract on 12 March 2009 with Pitchstone Exploration Ltd of Canada.
The exploration site is the Wolverine-Marten area in the Athabasca Basin of north-eastern Saskatchewan.
JAIF said there were high expectations for the project because the area is within a 50-kilometre radius of the Cigar Lake and McArthur River deposits, some of the world’s largest deposits of high-grade uranium.
JOGMEC will bear the equivalent of about 1.6 million US dollars (about 1.1 million euro) of the exploration costs over a four-year period and have a 50 percent stake in the project. It will also have the right to sell the same proportion of any uranium discovered.
>>Related reports in the NucNet database (available to subscribers)
Setback In Remediation Work At Canada’s Cigar Lake Mine (News in Brief No. 90, 13 August 2008)
Cameco Issues McArthur River Mine Update (News in Brief No. 127, 5 November 2008)
