Western Uranium Corporation Acquires Argentina Uranium Project
Mon, Nov 30, 2009
Western Uranium Corporation reports its agreement with the HB Syndicate to acquire 7 cateos covering approximately 14,000 hectares in the La Rioja Province, Argentina that demonstrate strong potential for hosting uranium mineralization.
The HB syndicate has identified a number of areas in Argentina that are similar geologically to the producing basins in the western U.S. that have been mined and have produced hundreds of millions of pounds of uranium. However, these areas have not been subjected to the intense level of exploration or mining by the private sector as in the U.S. In addition to the geologic favorability of the area, the provincial government of La Rioja recently rescinded negative mining regulations and the infrastructure and access are good compared to other prospective areas in Argentina. The Company believes this represents a sound business opportunity to continue uranium exploration with a minimal outlay of expenditures which will position Western Uranium well when the uranium sector revives.
For full details of this press release, click this link.
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Tags: millions of pounds of uranium, Uranium Exploration, uranium investing, uranium mineralization, uranium mines, uranium mining, uranium price, uranium sector, Western Uranium Corporation
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