Xcite Resources Jean-François Meilleur on a Surface Trench with Uranium Grades Averaging 30%
February 19, 2025 — Xcite Resources Inc. (CSE: XRI) is focused on uranium exploration in the Athabasca Basin, with its six-property Uranium City project portfolio. In a recent interview with Peter Clausi of Investor.News, Jean-François Meilleur, President, CEO, and Director of Xcite, provided an update on the company’s progress. Xcite completed a 43-101 report last year for all six properties and is now advancing with geophysics and drilling to target high-grade uranium deposits. Meilleur emphasized the company’s strategic position within the Basin, stating, “The Athabasca Basin is the number one place for massive discoveries,” noting that the region’s high-grade uranium is among the highest in the world. He also highlighted the company’s significant insider ownership, with more than 50% held by management and insiders, underscoring their confidence and commitment to the project.
Xcite’s exploration focus includes a surface trench with uranium grades averaging 30%, which Meilleur pointed out could lead to a world-class deposit if mineralization is confirmed at depth. He referenced the geological thesis of glaciation, which has led to the discovery of substantial deposits in the region. According to Meilleur, “600 feet of 30% uranium is certainly an eyeball catcher,” showcasing the potential of their targets. Recent exploration results have validated the historical uranium mineralization at their properties, especially at Beaver River and Black Bay, and are showing signs of favorable geological conditions for further discoveries. These promising developments, along with strong insider support, place Xcite in an advantageous position for potential breakthroughs in uranium exploration.
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About Xcite Resources Inc.
Xcite Resources Inc. (CSE: XRI) is an early-stage exploration company working to become a leader in the discovery and development of energy transition metals. The uranium project portfolio in the Athabasca Basin will propel our efforts to achieve a high-grade discovery based on new geological modeling and exploration thesis in a uranium past producing camp dormant for 40 years. The Uranium City project portfolio constitutes the Don Lake, Beaver River, Smitty, Lorado, Gulch and Black Bay properties.
Xcite holds the exclusive option to acquire an 80% interest in the 6 properties, by making a series of cash payments and share issuances to Eagle Plains and funding exploration expenditures. The projects are owned 100% by EPL, which will retain an underlying 2% NSR royalty on the each of the properties.
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