Clean Commodities Corporation has acquired the Labrador Uranium Project, an advanced, drill-ready uranium exploration project located in the Notakwanon area of Labrador. The project hosts such a significant number of uranium showings, including the Notak-1 target which is a drill-ready prospect based on past work by Altius Minerals. The announcement positions an advanced wholly-owned uranium asset within their portfolio and compliments the $8M transaction they recently disclosed as their Preston Uranium Project in Saskatchewan.
Uranium mineralization at the Labrador Uranium Project is interpreted to be shear zone-hosted while resembling the basement-hosted uranium mineralization found in Saskatchewan Athabasca Basin. Among the variety of uranium prospects hosted within the Labrador Trough Project are the Notak-1 showing, which yielded grab sample assay values up to 1.93% U3O8, and the Old School showing, which yielded grab sample assay values up to 2.08% U3O8.
The Labrador Uranium Project tenure hosts 15 of 16 uranium prospects identified by Altius Minerals Corporation on ground formerly contained within their Notakwanon Uranium Project, plus an additional prospect on tenure formerly held by Ucore Rare Metals Inc. The tenures underlying the Labrador Trough Project was largely possible as a result of assessment credit depletion on mineral claims held in past by Altius Minerals, who had previously optioned a 50% interest in their Notakwanon Uranium Project in a multi-million dollar property deal prior to the uranium downturn.
Assessment filings by Altius Minerals have noted the potential for the Notakwanon area of Labrador to host bulk tonnage potential for uranium. Labrador offers significant uranium exploration potential and is elsewhere home to Paladin Energy Michelin uranium deposit, one of the world largest undeveloped uranium deposits.
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