The planned prospecting program will include investigating and mapping historic showings and target zones identified through successive geophysical programs, the company said.
Given the project’s proximity to the southern tip of the Athabasca Basin, the Vancouver-based company is pursuing an exploration model similar to Fission’s Patterson Lake South deposit and NexGen’s Arrow deposit.
Bedford Metals is simultaneously advancing its Close Lake uranium project, located on the eastern side of the Athabasca Basin, by claims held by Cameco (TSX: CCO) (NYSE: CCJ), the world’s second largest uranium producer.
The granting of the exploration permit for Bedford comes amid favourable market conditions. Uranium contract prices have reached over 16-year highs due to supply uncertainty and increased demand from utilities seeking to secure the radioactive fuel to rapidly expand their capacity to power growing AI data centres.
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