Cameco (TSE) of Saskatoon, Sask., has staked a claim to 6,000 sq. km in Alberta, the same size area as was staked by De Beers subsidiary, Monopros, in 1990.
The area staked is in what is known as the coal belt and sits adjacent to Jasper National Park. It surrounds the town of Hinton, and proceeds in a southerly direction.
Cameco spokesman Rita Mirwald confirmed the company will be exploring for diamonds.
A second claim has been staked around the Cameco land lease by Jerry McCoy, who, according to unconfirmed reports, is acting on behalf of Monopros. McCoy, a resident of Hinton, did not return calls.
And finally, a third claim has been staked north of the Cameco claim by Obed Mountain Coal Ltd, a subsidiary of Luscar.
“In part, I think they wanted to see if there were other minerals they could recover in association with their coal mining activities,” said Brian Hudson, minerals agreement manager for the Alberta Department of Energy. Hudson added that 1992 activity has now superseded 1990 as the most active claim acquisition year in Alberta history. In fact, more than 14,000 sq. km have been claimed, which is about half of what has been claimed in the booming Northwest Territories.
While Hudson has noticed a considerable amount of interest, he believes another factor might be at play. Alberta is in the process of rewriting its staking regulations, essentially eliminating what amounts to a performance deposit. The deposit has been waived for the past six months in anticipation of the change. Monopros, which paid a $6 million deposit two years ago, is likely to see much of that deposit reimbursed.
If new legislation is passed this fall as planned, “the deposits that we presently hold would be returned,” said Hudson.
He expects a great deal more activity once the regulations change. Alberta is changing its regulations for claim deposits to encourage more exploration activity.
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