Aldrin Partners With Take-Over Target Fission Energy
10 Februar 2015 - 2:15PM
If it is true that you are known by the company you keep, Aldrin
Resources (ALN-TSX.V) social status just made a quantum leap
upward.
On February 5, 2015 Aldrin announced an agreement to purchase
50% of Fission 3.0 (FUU-TSX.V) Key Lake Uranium Package for $6.9
million staged expenditure. Four days later Dev Randhawa, Chairman
and CEO of Fission 3.0, joined the board of Aldrin.
Mr. Randhawa is a messiah in the uranium space. He is the
founding CEO of Fission Uranium Corp. (FCU-TSX.V) -- a $435m market
cap uranium exploration company that owns the Triple R deposit at
PLS in the Athabasca Basin. Mr. Randhawa was also the founding CEO
of Fission Energy Corp.
"I am looking forward to helping Aldrin's team progress their
projects in Saskatchewan," stated Randhawa, "including the recently
announced joint venture between Aldrin and Fission 3.0 on the
highly prospective Key Lake property package."
The Key Lake package contains five separate properties
comprising 61 mineral claims covering about 18,000 hectares. The
claims are sitting in the same group of basement rocks that host
the major uranium deposits on the eastern side of the Athabasca
Basin. A near-by Key Lake open pit uranium operation produced
209.8 million pounds from 1983 to 2002.
"In the last 24 months we've executed a successful drill program
on our Triple M Property in the Athabasca Basin," states Aldrin CEO
Johnathan More in an exclusive interview with Financial Press. "But
the addition of the Key Lake Property creates a new horizon for our
shareholders."
Northern Miner Magazine's 2013 'Mining Person of the Year',
Randhawa has recently resigned from another junior
explorer. After a careful look at the players in this basin,
he appears to be placing his bet on Aldrin.
"Mr. Randhawa knows the basin, he knows uranium, and he knows
the Aldrin team," confirmed More. "It's a strategic partnership
that I believe is going to deliver significant dividends."
"As a project generator, we identify and acquire properties that
have the potential to host high-grade uranium," stated Randhawa.
"Our JV partners provide the financing, while our technical team,
led by COO and Chief Geologist Ross McElroy, operates the
project."
Having discovered two major deposits in four years, Fission's
technical team has developed a proprietary model for finding
uranium through airborne radiometrics, radon gas surveys and
geophysics.
"Key Lake has the potential for near-surface, high-grade
mineralization in basement rock," stated McElroy. "We are going to
utilize the in-house skills and techniques we've developed in
recent years when we begin exploration this year."
Although the uranium sector has been caught in a downdraft since
the 2011 Fukushima Power Plant malfunction, global energy usage
trends indicate that demand will sky rocket.
According to the World Nuclear Association there are currently
435 nuclear reactors connected into national grids, 67 are under
construction, 164 on order and 317 proposed.
"The Athabasca basin will be the biggest source of uranium for
the whole world," predicted Energy Guru Thomas Drolet in a
Financial Press Interview. "Aldrin is distinguished by its
location, size and the geological indicators which suggest there is
a strong potential for an economic uranium mine."
Location, location, location. Key Lake is in the vicinity
of the 2012 Patterson Lake discovery on the western side of the
Athabasca Basin.
Patterson Lake is a shallow deposit, amenable to an open pit,
located in basement rock that is typically easy to
mine. Analysts unanimously agree that Fission's PLS discovery
is one of the most significant uranium finds in decades.
The deposit contains an estimated 80 million pounds of
'indicated' uranium and about 25 million pounds of 'inferred'. More
than 50% of the resource sits in a high-grade zone that can be
mined at low cost.
In a recent communication, Dundee Capital Markets analyst David
Talbot called the Fission resource numbers 'truly phenomenal.'
Fission buy-out rumours involving Rio Tinto and Teck Resources
have now reached deafening levels, but Randhawa has stated that he
is in no rush to do a deal as Fission continues to expand its
resource.
"We don't control if someone comes and makes a run at us,"
stated Randhawa. "But we are ready for it if someone does."
This backdrop is significant for Aldrin shareholders because
explorers like Randhawa and McElroy will shift their focus quickly
after a buyout and the Key Lake Property is geographically and
geologically positioned to take center stage.
Aldrin is trading at .20 with a market cap of $4 million.
Legal Disclaimer/Disclosure: This document is not and should not
be construed as an offer to sell or the solicitation of an offer to
purchase or subscribe for any investment. Financial Press makes no
guarantee, representation or warranty and a fee has been paid for
the production and distribution of this Report.
CONTACT: Aldrin Resource Corp.
Johnathan More
604-687-7741
604-681-0796
info@aldrinresourcecorp.com
www.aldrinresourcecorp.com
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