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Eagle Plains acquiring 2% NSR on Denison's Virgin River property

Eagle Plains Resources Ltd. signed a deal to acquire a 2% net smelter royalty on the 1,334-hectare Virgin River property, which Denison Mines Corp. purchased and is contiguous with its South Dufferin uranium project in Saskatchewan.

The royalty can be halved for C$1 million, according to a Dec. 13 release.

The property is interpreted to overlie the Virgin River Shear/Snowbird Tectonic Zone, a regional-scale geologic feature associated with Cameco Corp.'s Centennial deposit located 40 kilometers northeast.

Eagle Plains said the agreement strengthens its exposure to potential future production in various uranium camps in Saskatchewan including the Patterson Lake South area, where it owns NSR interests on claims now held by Cameco, Denison and ALX Uranium Corp.