SKRR Exploration Inc. (TSXV: SKRR) has entered into a letter of intent (LOI) with F3 Uranium Corp. over the Clearwater West Project, located in Saskatchewan, Canada.
Under the LOI SKRR and F3 will negotiate and settle the terms of a definitive option agreement that will provide SKRR with an option to acquire up to a 70% interest in F3’s right, title and interest in and to the mineral claims compromising Clearwater West Project.
The Clearwater West Project is located ~20km outside the edge and in the south-west area of the Athabasca Basin, which is poised to become the next area for the development of major uranium mines in Saskatchewan. It is 13km south of Fission Uranium’s Triple R deposit, located 7km outside the basin edge on its PLS Property, where a Feasibility Study was recently completed, and 17 km south of NexGen’s Arrow uranium deposit.
The Clearwater West property is comprised of three contiguous mineral claims totalling 11,786ha which are immediately south and adjacent to Fission Uranium’s PLS property. SKRR cautions that past results or discoveries on proximate lands are not necessarily indicative of the results that may be achieved on the Clearwater West Project.
“We are very excited to not only work with F3 and their outstanding team, but also to have an opportunity to acquire a majority stake in an attractive property in the Athabasca Basin region, home to some of the world’s largest uranium mining operations,” SKRR CEO, Sherman Dahl, said.
“At SKRR we believe that that PLS/PLN area has the potential to generate further large discoveries, as demonstrated by the recent JR zone discovery at PLN. The Clearwater West project is near large uranium discoveries, including the Arrow and Triple R deposits.”
Under the terms of the LOI, SKRR may acquire up to a 70% interest in the Clearwater West Project by making certain staged cash payments and share payments of common shares in the capital of SKRR to F3 and by incurring expenditures over a three year period on the Clearwater West Project.
For further information please visit: https://skrr.ca/
