Vancouver-based Marvel Discovery has obtained the final approval from the TSX Venture Exchange to pursue its planned acquisition of the Highway North uranium property in the Athabasca region of Saskatchewan, Canada.
In late 2021, the company entered into an assignment and assumption agreement with District 1 Exploration Corp. which granted it the sole and exclusive right and option to buy the uranium property.
“The Property is located 70 km southwest of the former producing Key Lake Uranium Mine. Aptly named for its location along Highway 914, the Property consists of five contiguous claims totaling 2,573 hectares. The Key Lake Deposit, which is northeast of the Property, consisted of two mineralized zones which historically produced a total of 4.2 million tonnes of product at an average grade of 2.1%” of triuranium octoxide (U3O8) which is a compound of uranium, Marvel Discovery said in a statement.