Shareholders, Associates & Colleagues
Just in case you missed our second press release this week, I am sending you an announcement we made this morning regarding a second transaction I have completed with Forum Uranium to earn a 60% interest in their North Thelon Uranium & REE properties in Nunavut.
Located west of Baker Lake and immediately adjacent to Areva’s Kiggavik Deposits (114M-lbs uranium) I believe the property has excellent potential for a substantial discovery. Although perhaps at a slightly more grassroots level than the properties within the Mongolia Uranium Portfolio which we plan to purchase from EAM Exploration LLC, announced in our press release yesterday, work completed by Forum has already identified a number of good drill targets, some of which we will be testing this summer.
The properties also have an exciting, newly discovered REE anomaly, “Nutaaq”, which we also intend to follow-up on this summer. Field work will begin in July and drilling is likely to be conducted during August, depending on drill rig scheduling.
In both these new projects we plan to utilize the existing technical teams who have been working the ground for several years, which gives us a tremendous head start; they know the geology, logistics, environmental issues and local politics very well. It will also allow Cash to keep our overhead low by not having to assemble new exploration teams.
I am quite pleased that I had a number of comments and questions from shareholders and associates regarding yesterday’s announcement and have already had a few emails today after the attached release was issued this morning. Please bear with me over the next few days as I attempt to reply to everyone. I am actually heading to Mongolia tomorrow but I promise to get back to those who require a response.
As time allows over the next few weeks, we will be updating our website with technical information on these two new, exciting projects.
In the meantime, should you have additional questions or comments please feel free to send me an email.
Thanks for your support and patience as we start moving Cash forward.
Regards
