Pathfinder scoops up uranium claims in Nfld.

Vancouver A recent staking program has provided Pathfinder Resources (PHR-V) with 35,725 hectares of ground prospective for uranium mineralization in southwestern Newfoundland.

The land package lies within the Hermitage Flexure geological belt and is adjacent to the White Bear River and Blue Hills properties where Commander Resources (CMD-V) recently discovered high-grade sediment-hosted uranium mineralization, along with stratiform uranium occurrences.

The Hermitage Flexure belt is a 100-km by 10-km structural arch that hosts a number of uranium prospects in volcanic and sedimentary strata rocks. Several energy companies made discoveries in the region during the 1980s, but later withdrew because of low uranium prices.

Pathfinder President Victor Tanaka says the company now controls mineral rights for about half the under-explored belt. The claim blocks are situated at both ends of Commander’s 50-km-long land package.

Pathfinder also holds the largest land position in the Thelon Basin in Canada’s Northwest Territories. The under-explored Basin lies north of Saskatchewan’s uranium-rich Athabasca Basin, and is considered highly prospective for uranium deposits.

Pathfinder is part of a three-company syndicate formed to identify and acquire uranium properties in Central America. The company also has an option to earn 100% of the Dude copper-molybdenum-gold property in British Columbia.