Saskatoon-headquartered Orano has taken an option to acquire up to 70% in the mineral claims and associated property comprising the Fir Island project, in the Black Lake area of Saskatchewan from Forum Energy Metals.
Under the agreement, Orano is to spend a total of $6-million on the property by the end of 2023 to earn 70%. Half of that should be spent before the end of 2021 for a 51% interest.