New uranium deposits acquired

Subiaco-based White Canyon Uranium Ltd has acquired two additional uranium deposits in the White Canyon Uranium District in Utah.

The projects, Blue Jay and Marcy & Look, comprise 58 mining claims totalling 437 hectares.

In a statement, the company said the deposits were located by exploration completed in the 1970s, and that the project packages come with a comprehensive database comprising geological and gamma log data for the completed drilling.

White Canyon has started the exploration permitting process with view to progress the historically defined mineralisation to JORC‐compliant resource categories.

Drilling operations will start as soon as practicable, initially on the Blue Jay Project.

The new projects were acquired from local Blanding prospectors Kevin Shumway and David Lacy for cash and share considerations: Blue Jay $US200,000 and 3.2 million ordinary shares, while Marcy & Look was bought for $US100,000 and 1.6 million ordinary shares.