Dark Star Minerals (CSE:BATT) has finalized a mineral purchase agreement to acquire the Bleasdell Lake Uranium Project in Northern Saskatchewan, Canada. The project spans 515 hectares and includes historical exploration data indicating a deposit of 620,700 pounds of triuranium octoxide within the Horn and Jackpine zones. The agreement involves a series of cash payments totaling C$250,000 and the issuance of five million shares to the vendors. Additionally, Dark Star will grant a 2% net smelter return royalty on the project.
According to CEO Marc Branson, the company aims to build on the extensively explored historical resource, targeting confirmation and expansion of previous findings. Dark Star intends to conduct follow-up exploration on the Horn and Jackpine zones, known for uranium-bearing pegmatite dykes. The company believes this acquisition aligns with its mandate to explore, develop, and acquire assets in anticipation of future uranium supply shortages due to the growth of nuclear power and small modular reactors. The Bleasdell Lake Uranium Project joins Dark Star’s existing portfolio, including an option to acquire the Ghost Lake claims in Labrador.
