Minatco buys 100% of uranium property

Saskatoon-based Minatco, an affiliate of Total Compagnie Francaise des Petroles, has acquired a 100% interest in the Wolly project, a uranium property in northern Saskatchewan. Minatco, which purchased the remaining interest from joint venture partners Canadian Occidental Petroleum and Inco (TSE), will continue exploration on the Wolly project this winter.

In 1985, Minatco agreed to spend $23 million on the property to earn a 33.3% interest.