https://www.engineeringnews.co.za

Lakeland Resources inks option agreement with Declan Resources

Lakeland Resources inks option agreement with Declan Resources

Photo by Bloomberg

4th December 2013

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

TORONTO (miningweekly.com) – Two TSX-V-listed explorers on Wednesday struck an option agreement that could see Declan Resources earn up to a 70% interest in Lakeland Resources’ Gibbon’s Creek uranium property, located on the northern rim of Saskatchewan’s Athabasca basin.

Gibbon’s Creek, which is considered by Lakeland to be a core holding, comprises five contiguous claims totalling 12 771 ha, located less than 3 km from the settlement of Stony Rapids and next to the Black Lake project, jointly held by Uracan Resources and UEX Corp.

The Gibbon’s Creek property encompasses a portion of the company’s 35 463 ha Riou Lake property and is where Lakeland’s fieldwork had been mainly focused to date.

Under the terms of the option agreement, Declan would need to incur $6.5-million in staged exploration expenditures, pay $1.5-million in cash and make share payments.

“We are very pleased to have reached an agreement with Declan, where they have the opportunity to earn in to the Gibbon’s Creek property and join efforts with our team. The agreement brings together two focused, hard working, and motivated teams and will allow for an expanded programme at Gibbon Creek’s in 2014,” Lakeland president Jon Armes said.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Iritron
Iritron

Iritron delivers advanced automation, control, and optimisation solutions to the Mining, Minerals & Metals, Consumer Package Goods and...

VISIT SHOWROOM 
Airshrink - CiP
Airshrink - CiP

At Airshrink - CiP, we surpass customer expectations with innovative MV and LV cable accessories, including heat shrink joints, terminations,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.05 0.727s - 140pq - 2rq
Subscribe Now