Global Energy Metals Corporation has highlighted the start of an airborne geophysical survey across the Charlot-Neely Lake uranium project in Saskatchewan’s Athabasca Basin by portfolio company Terra Balcanica Resources Corp. and its subsidiary, Terra North Resources Corp.

Terra North has engaged Special Projects Inc. to conduct a high-resolution combined radiometric and magnetic survey over the 163.7 square kilometre property. The three-week program covers 2,441 line-kilometres to refine basement geology, identify uranium-related anomalies, and prioritize targets for follow-up ground work and drilling.

Global Energy Metals holds a 0.5% Net Smelter Return royalty covering the uranium project portfolio, which includes Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The company acquired the royalty in 2024 through a strategic agreement with Terra Balcanica and Fulcrum Metals Canada Ltd., maintaining exposure to the uranium district without funding exploration expenditures directly.

“The commencement of the Charlot-Neely Lake airborne program is an important step in converting historical exploration data and regional geological information into modern, high-resolution targets that can ultimately be tested on the ground and through drilling.”

— Mitchell Smith, President and CEO, Director

The Charlot-Neely Lake project lies approximately 20 kilometres north of Uranium City along the northwestern margin of the Athabasca Basin, hosting roughly a dozen historical radiometric anomalies and about 20 strike-length kilometres of the Black Bay Fault. Terra North plans to integrate the new airborne data with existing information to identify target zones for ground truthing in early 2027.

At the wider portfolio level, Terra North is preparing for a going-public transaction, anticipating a reverse-takeover and listing on a Canadian stock exchange in the fourth quarter of 2026. The operator also intends to conduct additional airborne surveys across its remaining claims, including the Snowbird Tectonic Zone, South Pendleton, and Fontaine Lake.

Activity across the wider region is also moving ahead, with Fortune Bay Corp. commencing diamond drilling across 15 priority targets at its Murmac uranium project within the surrounding district.

President and CEO Mitchell Smith noted that the 0.5% NSR royalty provides shareholders with exposure to potential discovery and development across quality Athabasca Basin assets as nuclear energy receives renewed global support.

Read the full announcement: Global Energy Metals Highlights Advancement of Terra Balcanica's Athabasca Basin Uranium Portfolio