The Volhoffer Lake project covers a total area of 85.3km² and consists of two contiguous claims on the eastern margin of the Athabasca Basin.
GEOTEM Mag/EM survey conducted on the project in 2005 has defined several conductive targets existing within magnetic lows.
The firm will fully evaluate the GEOTEM survey with other historical data to refine exploration targets, which will be examined by ground geophysics, prospecting and diamond drilling.
With this acquisition, the firm will have control of a total area of 608km² side of the Athabasca Basin.
Athabasca Uranium president and CEO Gil Schneider said that the project is a strategic acquisition with a host of viable exploration targets.
