Potential acquisition Vancouver-based Marvel Discovery has en-tered into an assignment and assumption agreement with District 1 Exploration Corp. which granted it the sole and exclusive right and option to buy the Highway North uranium property in the Athabasca region of Saskatchewan, Canada.
Some “21 drill holes have been drilled on the Property thus far totaling 3,527m between 1980 and 2008. Surface exploration and drilling have verified the presence of uranium mineralization along the High-way Zone, with grades up to 2.31% U3O8 over 0.29 m in KLR15-086,” Marvel Discover said in a statement.
Karim Rayani, the president and chief executive officer said the com-pany was “pleased to have acquired the option on such a prominent land package on an important structural corridor in the Athabasca Uranium producing region of Saskatchewan. The Highway North Pro-ject is perfectly situated along the Key Lake Shear Zone with power, water, and road accessibility.”
The value of the potential acquisition was not disclosed.