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Lakeland Resources primes winter program with $1.88-million private placement

by Greg Klein | December 9, 2014

Lakeland Resources primes winter program with $1.88-million private placement

One of a number of radioactive samples found at
Lakeland Resources’ Gibbon’s Creek property.

Lakeland Resources’ (TSXV:LK) winter plans just got an additional cash infusion from a $1.88-million private placement that closed December 9. The financing, first announced only five days earlier, will fund Athabasca Basin uranium exploration, as well as corporate development, general and administrative purposes.

The company’s early new year plans include 1,500 metres of drilling at Star/Gibbon’s Creek, two adjacent properties that form one project on the Basin’s north-central margin. Two other drill-ready projects are Lazy Edward Bay on the Basin’s southern rim and Newnham Lake, east of Star/Gibbon’s.

Last month Lakeland announced 40,218 hectares of acquisitions that increased what was already one of the largest portfolios in and around the Basin. The new land comprised four new properties as well as expansions to five others.

Read more about Lakeland Resources.

See a roundup of recent uranium news.

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