ATHA Energy has assembled one of the largest uranium exploration portfolios in the world. And now, they are getting ready to begin drilling for new sources of uranium supply.
What’s happening:
- ATHA Energy (TSXV:SASK) has announced they have completed equipment and supply mobilization to their Angilak Project located in Nunavut, Canada to prepare for their first ever drilling program
- The Angilak Project is one of the highest grade uranium deposits located outside of the Athabasca Basin
By the numbers:
- The Angilak Project contains a historical resource estimate of approximately 43M pounds of uranium
- The initial drilling done by ATHA Energy will be 10,000 metres of diamond drilling that is focused on previously identified targets at the property
Why it matters:
- The need for uranium supply continues to grow globally, as more nuclear power infrastructure continues to be built out amidst a push from governments and entrepreneurs to usher in carbon free power sources
Going deeper:
- ATHA Energy recently completed one of the largest mergers in the uranium space, rolling up Latitude Uranium and 92 Energy to form one of the largest uranium exploration portfolios in the world
- Prior to those mergers, ATHA Energy already owned the largest land package for uranium discovery in the prestigious Athabasca Basin located in Saskatchewan, Canada
The intrigue:
- Nuclear power is also becoming important as a carbon free source of power to support the recent boom in data centres, with Amazon (NASDAQ: AMZN) recently acquiring a data centre campus that is powered entirely by nuclear energy
