North Shore Uranium (TSXV:NSU) has signed a binding term sheet with Resurrection Mining to acquire up to 87.5 percent of the Rio Puerco uranium project in New Mexico, expanding its footprint into a second premier uranium district. With assets in the US and Saskatchewan, the company’s president and CEO, Brooke Clements, has outlined plans to advance exploration amid rising nuclear energy demand and an accelerating uranium market.
“We think it's great to have exposure to two projects in two great jurisdictions, but different jurisdictions, and the projects have quite different characteristics. At Rio Puerco, there is a known resource, and our job there is to validate the resource, attempt to grow it and ultimately prove up economic viability,” he said.
“In the Athabasca Basin, we're looking for an exploration home run, one drill hole that could represent the beginning of a major (new) discovery. We are working to drill high-quality targets that have never been drilled before in a zone that has proven uranium and favorable alterations. So the home run is what we're looking for in the Athabasca.”
Clements further emphasized how exposure to two world-class uranium districts offers great opportunities, with a solid plan to add value for shareholders.
“We are undervalued and we represent good exposure to the uranium sector relative to our peers. Given our quality projects, we plan to be very busy. So stay tuned, please.”
Watch the full interview with North Shore Uranium President and CEO Brooke Clements above.
