CAT Strategic’s district-scale South Preston Uranium Property is located in the southwest area of Canada’s Athabasca Basin and spanning across 29,395 hectares.Athabasca Basin is known as the one of the world’s leading sources of high-grade uranium, supplying ~20% of the world’s uranium.
Recently there has been a several discoveries within the same area that South Preston Project is located:
South Preston project has more than 10km of adjacent property border with NexGen Energy Ltd., more than 18.5 km of continuous project boundary with Orano (a leading global uranium producer), and 50 km of contiguous claim border with Azincourt Energy Corp.
The property could potentially be hosting the extension of a priority uranium exploration corridor extending from NexGen Energy Ltd.’s Rook-1 Project through Azincourt Energy Corp.’s adjacent East Preston Uranium Project and onto CAT’s South Preston Uranium Property.
The Company intends to conduct certain exploration work that will advance its near-term objective to commence the drill testing of targets at the South Preston Uranium Property. Additional announcements relating to the South Preston Uranium Project are expected to be made by news release upon closing of the transaction.