Long Harbour Capital has entered into an agreement with the Saskatchewan Syndicate for the purchase of a 100% interest in the 2Z Lake property located in the Athabasca Basin, Saskatchewan, Canada.
The property consists of four claims covering 354 hectares and hosts several uranium deposits in the Athabasca Basin.
The property covers the same basement geology as the major eastern Athabasca uranium ore bodies that are responsible for approximately 20% of the world’s annual mine production of uranium.
Long Harbour has purchased the property is $350,000 in cash and 1,000,000 common shares of the company.
Till date 20 drill holes have been completed on the property testing for unconformity-type deposits.
The property has not yet been adequately tested for basement-hosted high-grade uranium mineralization that have been discovered in many of the properties in the eastern basin.