Noka Resources Inc., trading under the symbol NX on the Canadian TSX Venture Exchange, is a junior exploration company with a focus on uranium in the prolific Athabasca Basin, Northern Saskatchewan. Noka’s exploration strategy is focused in relatively underexplored areas of the Athabasca Basin Region, targeting favourable geology and structure amenable to near surface, unconformity-style uranium mineralization.
With a total land position of 488,463 ha, Noka holds one of the largest geologically prospective land packages in the region through a 100% interest in the Clearwater and Athabasca North group of properties, as well as a 25% interest in the Western Athabasca Syndicate group of properties.
Property Location Map
Western Athabasca Syndicate:
The Western Athabasca Syndicate is a strategic partnership formed between Athabasca Nuclear Corporation (TSX-V:ASC), Skyharbour Resources Ltd (TSX-V: SYH), and Lucky Strike Resources Ltd. (TSX-V: LKY) and Noka Resources (NX:TSX-V) to explore and develop a 287,130 hectare uranium property base (the “Western Athabasca Syndicate Partnership”) that is the largest mineral claim position along the highly prospective margin of the South Western Athabasca Basin controlled by a single group. Under the terms of the agreement, each of the four companies has an option to earn 25% of the five uranium properties comprising the Western Athabasca Syndicate Partnership by making a series of cash payments share payments and incurring their pro-rata amount of the total $6,000,000 in exploration expenditures over the two-year earn-in term of the agreement. The properties were acquired for their proximity to the PLS discovery and interpreted favourable geology for the occurrence of PLS style uranium mineralization. The bulk of the Syndicate land package is bisected by all-weather Highway 955 which runs north through the PLS discovery on to the former Cluff Lake uranium mine.
Uranium and the Athabasca Basin:
The Athabasca Basin of northern Saskatchewan hosts the world’s largest and richest high-grade uranium deposits accounting for just under 20% of global primary uranium supply. Athabasca uranium deposits have grades substantially higher than the world average grade of about 0.1% U3O8. The Patterson Lake area has received escalating exploration attention and claim acquisition activity as a result of the new, near surface discoveries made by Alpha Minerals and Fission Uranium which includes the recently reported drill interval of 9.08% U3O8 over 54.5 metres in drill hole PLS13-075. Consistent high-grade, near surface U3O8 assays from Alpha and Fission demonstrate the potential for high-grade uranium mineralization on the geologically prospective, yet underexplored, margins of the south western side of the Athabasca Basin.