The company, through its subsidiary Royal USA, signed an agreement with NCA Nuclear and Kilgore Gold for the acquisition of properties and the associated exploration data.
NCA Nuclear and Kilgore Gold are wholly owned subsidiaries of Bayswater Uranium Corporation; pursuant to the transaction, Aldershot will pay $120,000 in cash and 250,000 shares for the properties.
Aldershot president and CEO Mike Leidich noted that the Powder River Basin has some of the most assessable uranium in the United States.
"The comprehensive data set that we’ll acquire with these properties will enable us to more economically determine the location and extent of any roll front deposits at Elkhorn and Alzada," Leidich said.
The projects are situated in close proximity and have the potential for joint exploration and development, providing economic benefits.
Alzada property has a historical resources estimate of 3,700,000 pounds uranium oxide with potential for resource expansion, while the Elkhorn property has historical resources estimate of 500,000 pounds indicated and 150,000 pounds inferred uranium oxide.
