|
|
On Strike North & South Uranium Properties, East Bancroft, Ontario |
|
During March, 2007, the Company completed the staking of 3 claim blocks totaling 2226 hectares in the Sherbrooke North, Lavant and Palmerston Townships in the east Bancroft area, approximately 77 kilometers southwest of Ottawa, Ontario. These properties, the On Strike North Claim Group, were acquired due to the increased uranium exploration activity in the area and the area’s historic uranium production totaling 14,862,653 lbs of U308 between 1956 and 1982. |
|
 |
On May 18th, 2007, the Company announced that it had entered into an option agreement with a private company, Atomic Uranium Inc., on the On Strike North claim group. On August 7, 2007, RJK announced it had acquired two additional claim groups, covering an area of approximately 1600 hectares, located 18 kilometers southwest of the On Strike North claims. These newly acquired claims, called the On Strike South Uranium Claim Group, are contiguous to portions of the southern boundaries of the Frontenac Ventures Corp. claims just as the On Strike North Claim Group is contiguous to portions of the northeastern boundaries of Frontenac's claims. On November 12, 2007, RJK optioned the On Strike South Group to Atomic on similar terms. RJK has now acquired, both through staking and claim acquisition, a substantial land package that would potentially cover historic government flown airborne radiometric anomalies that are found within the southwest to northeast trending belt.
Frontenac Ventures Corp. is a private company which has been conducting extensive exploration on their claims which exceeds $5 million over the last two years. Frontenac’s claim block totals approximately 5000 hectares and covers an area that is approximately 20 kilometres in length and ranges from 2 km. to 7 km. in width lying in a so-
|
|
uthwesterly to northeasterly direction. There is a strong indication that the Frontenac project may host a very large uranium mineralized district. RJK believes that several of Frontenac’s radiometric anomalies extend onto both the On Strike North and On Strike South Claim Groups.
In September, 2008, RJK amended the existing property option agreements to show that Atomic Uranium Inc. had changed its name to Green Bull Energy Inc. These new property option terms required Green Bull to pay a total of $40,000 cash, issue 175,000 shares to RJK and expend $105,000 on the properties in the first year. The second year requirements require Green Bull to issue a further 225,000 shares to RJK and incur total expenditures of $330,000 on both the properties.
Green Bull has advised RJK that it has spent over $125,000 in exploration in the first year including conducting helicopter-borne radiometric surveys on both the North and South Claim Groups that after data interpretation, detected 20 discrete radiometric anomalies with enhanced uranium content and generating seven compact radiometric anomalies that would be regarded as high-priority targets. Green Bull intends to conduct more extensive exploration to fulfill its second year commitments. |
|
|
|
