China Resources Quarterly reported that China's uranium imports
surged to historical levels in 2013. China purchased the nuclear
fuel at fire-sale prices in anticipation of supply shortages later
in the decade. Total 2013 uranium imports into China reached $2.39
billion.
Canada, the world's second largest natural uranium producer,
commenced shipping natural uranium to China in 2012.
"In the future, the Athabasca Basin [in Saskatchewan, Canada]
will be the biggest source of uranium for the whole world," stated
Uranium Guru Thomas Drolet in a recent interview with Financial
Press.
The Athabasca Basin hosts the world's richest uranium deposits.
Fission Uranium (TSX-V:FCU) recently reported a sequence of
spectacular drill results at the Patterson Lake South property
sending its stock price up 175% in 12 months.
Fission's industry-leading Technical Team is now developing
Fission 3.0.'s (TSX-V:FUU) Clearwater West property with Brades
Resource Corp (TSX-V:BRA) in the same uranium basin.
On April 15, 2014 the Fission 3.0 and Brades joint venture
announced the results of a high resolution magnetic survey and
Fission 3.0's patent-pending radiometric airborne survey. The
property scale survey identified a clustering of radiometric
anomalies which are now prioritized for ground prospecting follow
up in the summer of 2014.
"The operators at Clearwater West are the most successful
technical team in the Athabasca basin," stated Brian Biles,
Director of Brades in an exclusive interview with Financial Press,
"They have had two major discoveries in the last three years. It's
a phenomenal deal for Brades shareholders. To earn a 50% interest,
we are required to spend $700,000 in the first year, $2 million the
second year, and $2.3 million in year three."
A property scale airborne VTEM survey, designed to identify
basement EM conductors, has also been completed and analysis and
interpretation is in progress.
"All the money we spend will go into the ground as there are no
property payments. This makes it very attractive to investors,"
stated Biles, "As well as completing the radiometric and VTEM
survey, ground work and sampling will follow to identify potential
boulder fields and outcrops. The spring/summer program of
prospecting and mapping is something we would all like to see
completed."
Fission's Chief Geologist, Ross McElroy, has been instrumental
in four of the last nine major uranium discoveries in the Athabasca
Basin. He was also awarded the PDAC 2014 Bill Dennis Award for
Exploration Success and was named "Mining Person of the Year 2013"
by The Northern Miner, one of the industry's leading mining
publications.
"These results represent a very promising start to the first
year of exploration at Clearwater West," confirmed McElroy, "It's
becoming increasing clear that this is a highly prospective
project."
The airborne high resolution magnetic and radiometric survey was
flown at 50m line spacing for a total of 5,447 line-km. It is the
same technology used to find the Patterson Lake South discovery
just 12 kilometers to the North. In that case, the survey
identified clustered radiometric anomalies that led to the
discovery of the high-grade boulder field through ground
prospecting.
"The Fission 3.0 Technical team is very aggressive," explains
Biles, "There's no doubt that we're excited to be working with
them. Brades' responsibility is to finance the work program."
"Our property is right beside Fission Uranium's property which
hosts a major shallow depth, high-grade uranium discovery. There is
a lot of activity in the area. There is a big fold that runs
through the middle of the Clearwater property. That is why it was
staked. Historical work on the property has revealed conductors
which often point to uranium mineralization."
The radiometric anomalies on the Clearwater West property are
concentrated in the eastern 10km of the property. The clustering of
anomalies could represent an expression of a boulder field of
glacial origin, or an outcrop source. Follow-up prospecting
and mapping of these anomalies are currently under review.
Major mines in the Athabasca Basin include McArthur River (16.5%
U3O8), Maclean Lake (50 million lbs produced), Rabbit Lake (186
million lbs produced), Cigar Lake (22.3% U3O8), Cluff lake (60
million lbs produced).
Brades also has a large, strategically located property at Lorne
Lake in the Athabasca Basin and a gold project in British
Columbia.
"Brades Resources is not re-inventing the wheel here," stated
Biles, "Fission Uranium has had a tremendous success to the north
of us. It is significant that their team wants to explore for
uranium on the Clearwater property."
Brades is currently trading at .15 with a market capitalization
of $2.9 million.
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CONTACT: Brades Resource Corp
Suite 202
837 West Hastings
Vancouver, BC
Canada V6C 3N6
For Investment or any other questions
please call Brian at 604 687 7742
brian@bradesresource.com