Toronto-based U3O8 Corp has sold its Laguna Salada uranium project in Argentina to Consolidated Uranium for C$275,000 and Consolidated Uranium shares.
Laguna Salada is estimated to contain indicated resources of 6.3 million pounds of uranium and 57.1 million pounds of vanadium.
U308 will now focus on development of its Berlin deposit in Colombia.
The company has entered the second phase of a three-phase study to test the efficiency of membrane technology, which U3O8 hopes will lower operating and capital cost estimates in the preliminary economic assessment.
The Berlin deposit contains uranium resources as well as nickel, phosphate, and vanadium, which are used in batteries.