Power Metal Resources PLC (AIM:POW, FRA:2M5) has staked a claim in four uranium exploration properties comprising seven licences surrounding the Athabasca Basin in Saskatchewan, Canada.
The four 100% owned properties cover a combined 10,869-hectares and are in an area home to some of the world's largest and highest-grade uranium mines, said its statement.
The claims are valid for 2 years and there is no minimum spend commitment required.
Paul Johnson, chief executive, added: "Power Metal has been reviewing uranium opportunities across three different continents for some time, and today we make our first important public step into the uranium commodity space.”