The Athabasca Basin produces uranium at a 100 times higher grade than other deposits throughout the world and ATHA Energy Corp. (CSE: SASK) (FRA: X5U) (OTCQB: SASKF) is well-positioned to capitalize on its resources with the largest land position in the region.
On Tuesday, ATHA’s CEO Troy Boisjoli was interviewed by the TF Metals Report, a podcast focused on discussions about precious metals and other commodities like uranium. Boisjoli discussed how the Athabasca Basin is the world’s best uranium mining jurisdiction because of the size and scale of deposits, the grade of uranium coming out of the ground and the politically stable Canadian jurisdiction it resides in.
“Currently, I think Cigar Lake is producing at around 16 per cent uranium when you think about global averages that are 0.03 kind of per cent-ish. So you’re talking about 100 times, or greater uranium grade in these deposits, which is unparalleled anywhere else globally,” said Boisjoli.
Boisjoli previous served as an exploration geologist for Cameco Corporation (TSX: CCO) (NYSE: CCJ), which holds a 54.5 per cent ownership stake in Cigar Lake — the world’s highest grade uranium mine. It is situated on the eastern side of the Athabasca Basin where ATHA recently identified conditions supporting basement-hosted uranium mineralization at its East Vista project through its electromagnetic survey conducted this year — the largest ever completed in the region.
Boisjoli said the company had seven helicopters flying over the company’s land package simultaneously to complete the survey.
He explained that in addition to the ATHA’s vast land package, the company also holds rights to 10 per cent of resources discovered on certain portions of the land package held by NexGen Energy Ltd. (TSX: NXE) and two projects within the portfolio of IsoEnergy Ltd. (TSX-V: ISO).
ATHA does not need to contribute financially to those exploration efforts. Boisjoli says he developed a strong understanding of how valuable NextGen’s portfolio was during his time serving as their vice president of exploration.
🎙️Podcast: Our CEO Troy Boisjoli talks with @TFMetals to discuss all things ATHA Energy $SASKF $SASK.CN #uranium 🔦 Highlights: our exploration strategy, future acquisitions and progress across our 3.4 million acre portfolio in the Athabasca Basin → TRANSCRIPT 👇👇… pic.twitter.com/2ovJ1BB0Xz
— ATHA Energy Corp $SASK.CN $SASKF (@athaenergycorp) October 24, 2023
ATHA aims to have highest priority targets defined by H1 end, 2024
ATHA is currently processing a vast amount of data on its land package and aims to have the highest-priority targets identified mid-way through next year before commencing drill testing on them during the latter half of 2024.
A recent mining jurisdiction survey conducted by Canada’s Fraser Institute found that Saskatchewan sat in spot number three for overall investment attractiveness globally. The Athabasca Basin spans over 100,000 square kilometres throughout northern Saskatchewan and Alberta.
ATHA’s shares are currently trading for $1.03 on the Canadian Securities Exchange. The company is well funded, currently having a cash position of $25 million.
ATHA Energy is a sponsor of Mugglehead news coverage