Barrick(US:GOLD) Prnewswireยท2025-05-28 10:00Core Viewpoint - The Rea Uranium Project, owned 75% by the Company and 25% by Orano Canada Inc., has received approval for its exploration program, highlighting the growing importance of uranium in clean energy demands and the potential value for shareholders [1][4][7]. Project Overview - The Rea Uranium Project is located in the Athabasca Basin, Alberta, covering approximately 125,328 hectares and consists of 16 mineral permits [5][7]. - The project is strategically positioned near high-grade uranium deposits, including Paladin Energy's Triple R deposit and NexGen Energy's Arrow deposit, which are currently under development [1][7]. Exploration and Development - The Alberta Energy Regulator has authorized the Company's proposed metallic minerals exploration application for the Rea Project [1]. - The project area has seen minimal exploration historically, but recent discoveries in the region have renewed interest and activity [7][10]. - GoldMining has identified 70 kilometers of prospective trends in three distinct corridors for future exploration: Maybelle River, Net Lake, and Keane Lake [11]. Geological Context - The geological structure of the Rea Project is associated with the Maybelle River Corridor, which is projected to extend over an additional 11 kilometers of strike across the northern Rea Project [7]. - The underlying rocks consist of complexly deformed and metamorphosed crystalline basement rocks, which are conducive to uranium mineralization [8]. Historical Context - The Rea Project was acquired by GoldMining in 2013 as part of a larger acquisition of Brazilian gold properties [7][9]. - Historical drilling in the project area has indicated uranium concentrations of up to 48 ppm in the Net Lake corridor and 87 ppm in the Maybelle River corridor [10].