GoldMining, a Canadian gold miner, has announced its plans to advance a uranium project in Alberta that has remained untouched since 2013. With the current high price of uranium, the company has decided to revisit the Rea project located in the Western Athabasca Basin.
GoldMining acquired the 125,328-hectare property as part of its acquisition of Brazilian Gold in 2013, before the discovery of significant uranium deposits in the region. Now, Chief Executive Alastair Still stated that the company will reactivate its exploration efforts and collaborate with local stakeholders to assess the value of this untapped asset.
“In the coming months, we will make further announcements on our plans to target a major regional shear zone located 9 kilometers along the strike of the high-grade uranium mineralization at the Dragon Lake deposit,” said Still.
Currently, GoldMining is refining and prioritizing exploration targets for the property. The company expects to release more detailed plans on how it will proceed with the project in the next few months.
The project is 75% owned by GoldMining, with the remaining 25% owned by Orano Canada, a subsidiary of French mining company Orano Mining.