Firms Looking For Minerals Under Lake Athabasca
Friday, April 13, 2007 at 14:51
A government official says mining interest in the North is so high right now that even plots of land under Lake Athabasca have been staked.
Geological Services director George Patterson says there hasn’t been this much exploration activity since the 1970s.
In 2007, the province expects $277 million will be spent on mining exploration in Saskatchewan. That’s a far cry from 2003, when just $31 million was spent.
Patterson says the search for uranium is one of the main factors behind the recent push. He notes the spot price for uranium on the markets jumped $18/lb. U.S. last week. It now sits at $113/lb. U.S.
He confirms companies have been surveying the waters of Lake Athabasca for precious metals under the water body.
Patterson stresses a lot of work would have to happen before the government would even think of opening it up for mineral recovery.
He says it would involve incredibly complicated environmental screening –- and a tremendous amount of work.
Patterson adds the chances of deep water recovery efforts are very remote — but he admits something closer to shore might be possible.