ASX-listed TNT Mines has entered into a binding share sale agreement to acquire Vanacorp Aust and its wholly-owned US subsidiary, Vanacorp USA.
Vanacorp USA owns 200 unpatented lode claims that are prospective for uranium and vanadium, together called the East Canyon project, which is located in the East Canyon/Dry Valley mining district, in Utah.
The East Canyon claims cover 16 km2 of prospective land, which includes historic workings such as the None Such mine previously owned by Vanadium Corporation of America (VCA).
Vanacorp collected 26 samples from eight sites on the project, which returned assays as high as 9.21% vanadium oxide and 0.47% uranium oxide.
TNT Mines expects the transaction to be finalized before the end of May.
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