TAD Mineral acquires uranium graphite prospect in Athabasca Basin

26 February 2014 (Last Updated February 26th, 2014 18:30)

Junior resources company TAD Mineral Exploration has acquired the Drowning River hydrothermal graphite prospect.

Junior resources company TAD Mineral Exploration has acquired the Drowning River hydrothermal graphite prospect.

Drowning River is located near the company's Constance Lake hydrothermal graphite prospect.

TAD director James Nelson that said the new prospect will compliment the Constance Lake property, which borders Zenyatta Ventures' hydrothermal graphite discovery.

"Management is working to build the assets of the company, at a time when we feel the venture market has become significantly more buoyant."

"When you couple this exciting new prospect with the recently announced 11,000 acres bordering NexGen in the Athabasca Basin, it is clear that management is working to build the assets of the company, at a time when we feel the venture market has become significantly more buoyant," Nelson said.

TAD Mineral Exploration has been acquiring new prospects in a bid to expand its portfolio. The company last week acquired approximately 4,500ha in the Athabasca Basin, prospective for uranium.

TAD has also added three further prospects, including one in the Athabasca Basin in Saskatchewan that is close to the Alpha/Fission Patterson Lake South discovery, the Iskut copper-gold prospect near Colorado Resource's North Rok discovery in British Columbia, and a hydrothermal graphite prospect bordering Zenyatta Ventures.

The company plans to investigate the newly acquired prospect and to continue building on its assets.

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