Issue link: http://resourceworld.uberflip.com/i/294363
www.resourceworld.com 21 A P R I L / M A Y 2 0 1 4 F our junior exploration companies have assembled a massive land position (287,130 ha) around the high-grade uranium discovery of Fission Uranium Corp. [FCU-TSXV; FCUUF- OTCQX; 2FU-FSE] on its Paterson Lake South property in the Western Athabasca Basin of northern Saskatchewan. The property, known as the Western Athabasca Syndicate Project (WASP), is a strategic partnership between Sky- harbour Resources Ltd. [SYH-TSXV], Athabasca Nuclear Corp. [ASC-TSXV], Noka Resources Inc. [NX-TSXV; NO- KAF-OTC] and Lucky Strike Resources Ltd. [LKY-TSXV; LKYSF-OTCQX]. The WASP land position was assembled based on the geological potential for finding ad- ditional PLS-style uranium mineraliza- tion. The Syndicate's combined geological team has over 100 years of experience in the basin and intends to explore the property by utilizing the same refined exploration methodology that led to the PLS uranium discovery. The group is currently completing a ground electro-magnetic survey to fur- ther refine conductor trends which will lead to an initial drill program. So far, the Syndicate has spent $2.1 million on ex- ploration and has delineated numerous geological, geophysical and geochemical targets associated with eight prospective exploration corridors. I like this deal because it consolidates a quality land package next to a world- class uranium discovery. In addition, it significantly mitigates exploration risks and costs and effectively combines spe- cialized technical exploration experience. This synergistic approach to explora- tion greatly improves the odds of discov- ery for the investor. In the current mar- ket environment, I believe this one of the best ways to conduct a large exploration program without substantial equity dilu- tion to any one company's shareholders. Under the terms of the WASP agree- ment, each of the four companies has an option to earn 25% of the five uranium properties that make up the WASP part- nership by making a series of cash pay- ments, share payments, and incurring their pro-rata amount of the total $6 mil- lion in exploration expenditures over the two-year earn-in term of the agreement. This article is solely the work of its author, Shayne Nyquvest, a registered Investment Advisor at Jordan Capital Markets Inc., a member of both the Investment Industry Regulatory Organization of Canada ("II- ROC") and the Canadian Investor Protec- tion Fund ("CIPF"). The views (including recommendations) expressed in it are those of the author alone, and are not necessarily those of Jordan Capital Markets. The in- formation contained herein is drawn from sources believed to be reliable, but the accu- racy and completeness of the information is not guaranteed, nor in providing it does the author or Jordan Capital Markets assume any liability. At this time the author does own shares in all of the companies in the Western Athabasca Syndicate Project. n B R O K E R ' S P I C K S S h a y n e N y q u v e s t Western Athabasca Syndicate Project Exploring for uranium in Saskatchewan