en.Wedoany.com Reported - Purecore Metals Inc. announced the signing of a letter of intent with Skyharbour Resources Ltd. to acquire up to a 100% interest in the Yurchison uranium project located in the Wollaston Domain of the Athabasca Basin, northern Saskatchewan, Canada. The letter of intent, signed on July 15, 2026, is a non-binding agreement. The Yurchison project consists of 22 mineral claims covering a total area of approximately 35,028.93 hectares.
The Yurchison project is located approximately 75 kilometers south of Cameco's Rabbit Lake mine, with Highway 905 traversing the claim area. The project area is underlain by metamorphosed sedimentary gneisses of the Wollaston Supergroup, including psammopelitic to pelitic gneisses and graphitic pelitic gneisses, adjacent to Archean granitic gneisses of the eastern Wollaston Domain.
The project area has a rich history of exploration, including airborne electromagnetic, magnetic, and radiometric surveys, as well as ground magnetic, electromagnetic, induced polarization, gravity surveys, trenching, geological mapping, geochemical sampling, and drilling. Drilling activities were primarily concentrated from the 1960s to the 1980s, with minor work completed in the mid-1990s and 2000s. Sampling near old trenches has shown uranium (0.09% to 0.30% U3O8) and molybdenum (2,500 ppm to 6,400 ppm) mineralization in outcrop and float samples.
Most of the exploration at the Yurchison project was completed before 2000, with limited subsequent work, leaving many areas still underexplored. Historical exploration on the western side of the project primarily focused on uranium mineralization occurrences, while the eastern side mainly targeted SEDEX-type lead-zinc mineralization, with the historic George Lake lead-zinc deposit discovered near the project. The project hosts multiple uranium, molybdenum, and thorium mineralization occurrences and remains prospective for basement-type uranium mineralization, pegmatite-type U-Th-REE mineralization, and sedimentary-type Cu-Pb-Zn mineralization. Recent work includes airborne electromagnetic (VTEM and VLF-EM), magnetic, and radiometric surveys flown in 2022 and 2023.
Following the signing of the letter of intent, the parties agreed to negotiate final transaction terms in good faith and to define a mineral property option agreement. The transaction is subject to several conditions, including Purecore completing satisfactory due diligence, signing a binding definitive agreement, obtaining approval from both companies' boards of directors, and securing all necessary regulatory approvals, including approval from the Canadian Securities Exchange (CSE).
Purecore Metals Inc. is a mineral exploration company listed on the Canadian Securities Exchange (CSE: PURE) and the Frankfurt Stock Exchange (FSE: J8Y). The company focuses on advancing materials required for modern energy systems and emerging technologies, building a portfolio of critical minerals aligned with long-term trends in the energy, technology, and defense sectors.
