An option to earn an interest in diamond exploration properties near Sturgeon Lake in northern Saskatchewan from Claude Resources (TSE) has been terminated by Cameco. The uranium producer made its decision after completing various geophysical and mineralogical studies and one drill hole. Cameco said it is satisfied that although a few microdiamonds were found, no valid kimberlite targets exist on the property. Other diamond exploration properties in the same area in which Cameco has an interest will be released.
Last year Corona (TSE) terminated a property option agreement with Claude involving diamond exploration.
Cameco said it will continue to participate with Uranerz Exploration and Mining in the Fort a la Corne diamond exploration project, 60 km east of Prince Albert, Sask.
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