F4 Uranium (FFU.V) bought the Kelic Lake Project, which straddles the southern margin of the Athabasca Basin in northern Saskatchewan, through map staking, it said in a statement on Wednesday.
The company said historical drilling has intersected key structural and lithological features. The project brings the company's total portfolio to about 124,000 hectares across 17 properties.
Previous work on the property includes diamond drilling, airborne and ground electromagnetic surveys, and gravity and radiometric surveys, it said.
"Our technical team will now thoroughly compile, review and analyze this extensive historical dataset which contains all of the components required for drill targeting, ahead of the first F4 drilling program on the Property," said F4 Uranium Vice President of Exploration Erik Sehn.
Shares of the company closed unchanged at C$0.115 on Tuesday on the TSX Venture Exchange.