Pegasus Resources Secures Drilling Permits, Paving the Way for High-Impact Uranium Exploration in Utah
Pegasus Resources has secured drilling permits through the approval of a Notice of Intention (NOI) for its Energy Sands and Jupiter uranium projects in Utah. The exploration plan includes 18 drill holes at Energy Sands, averaging 178 feet depth, and 30 drill holes at Jupiter, averaging 550 feet depth. The Energy Sands Property has shown historical uranium intercepts exceeding 2% and 3% U₃O₈, while the Jupiter Property benefits from over 100 historic drill holes. The company plans to construct 48 drill pads, causing a total disturbance of 4.94 acres. The next steps involve finalizing bonding, securing funding, and mobilizing drilling crews to advance toward developing current resource estimates.
Pegasus Resources ha ottenuto i permessi di perforazione tramite l'approvazione di un Avviso di Intenzione (NOI) per i suoi progetti Energy Sands e Jupiter su uranio nello Utah. Il piano di esplorazione include 18 fori di perforazione a Energy Sands, con una profondità media di 54 metri, e 30 fori di perforazione a Jupiter, con una profondità media di 168 metri. La proprietà di Energy Sands ha mostrato intersezioni storiche di uranio superiori al 2% e 3% di U₃O₈, mentre la proprietà di Jupiter beneficia di oltre 100 fori di perforazione storici. L'azienda prevede di costruire 48 piattaforme di perforazione, causando un disturbo totale di 2,00 ettari. I prossimi passi includono la finalizzazione della garanzia, l'ottenimento dei finanziamenti e la mobilitazione dei team di perforazione per avanzare nello sviluppo delle stime attuali delle risorse.
Pegasus Resources ha obtenido permisos de perforación a través de la aprobación de un Aviso de Intención (NOI) para sus proyectos de uranio Energy Sands y Jupiter en Utah. El plan de exploración incluye 18 pozos de perforación en Energy Sands, con una profundidad promedio de 54 metros, y 30 pozos de perforación en Jupiter, con una profundidad promedio de 168 metros. La propiedad de Energy Sands ha mostrado intercepciones históricas de uranio que superan el 2% y 3% de U₃O₈, mientras que la propiedad de Jupiter se beneficia de más de 100 pozos de perforación históricos. La compañía planea construir 48 plataformas de perforación, causando una perturbación total de 2,00 acres. Los próximos pasos implican la finalización de la garantía, asegurar financiamiento y movilizar equipos de perforación para avanzar en el desarrollo de las estimaciones actuales de recursos.
Pegasus Resources는 유타주에 있는 Energy Sands 및 Jupiter 우라늄 프로젝트에 대한 의도 통지(NO Notice of Intention, NOI)가 승인됨으로써 굴착 허가를 확보했습니다. 탐사 계획에는 Energy Sands에서 18개의 시추 구멍이 평균 54피트 깊이로, Jupiter에서 30개의 시추 구멍이 평균 168피트 깊이로 포함되어 있습니다. Energy Sands 소유지는 2% 및 3% U₃O₈를 초과하는 역사적 우라늄 교차점을 보여주었으며, Jupiter 소유지는 100개 이상의 역사적 시추 구멍의 혜택을 보고 있습니다. 회사는 48개의 시추 패드를 건설할 계획이며, 총 2,00에이커의 영향을 미칠 것입니다. 다음 단계는 보증을 최종화하고, 자금을 확보하며, 시추 팀을 동원하여 현재 자원 추정 개발을 진행하는 것입니다.
Pegasus Resources a obtenu des permis de forage grâce à l'approbation d'un Avis d'Intention (NOI) pour ses projets Energy Sands et Jupiter sur l'uranium dans l'Utah. Le plan d'exploration comprend 18 trous de forage à Energy Sands, d'une profondeur moyenne de 54 pieds, et 30 trous de forage à Jupiter, d'une profondeur moyenne de 168 pieds. La propriété d'Energy Sands a montré des interceptions historiques d'uranium dépassant 2% et 3% U₃O₈, tandis que la propriété de Jupiter bénéficie de plus de 100 trous de forage historiques. L'entreprise prévoit de construire 48 plates-formes de forage, provoquant une perturbation totale de 2,00 acres. Les prochaines étapes consistent à finaliser la garantie, à sécuriser le financement et à mobiliser les équipes de forage pour faire progresser le développement des estimations actuelles des ressources.
Pegasus Resources hat Bohrgenehmigungen durch die Genehmigung einer Absichtserklärung (NOI) für seine Energie-Sand- und Jupiter-Uranprojekte in Utah gesichert. Der Erkundungsplan umfasst 18 Bohrlöcher bei Energy Sands mit einer durchschnittlichen Tiefe von 54 Fuß und 30 Bohrlöcher bei Jupiter mit einer durchschnittlichen Tiefe von 168 Fuß. Die Energy Sands-Liegenschaft hat historische Uraninterzeptionen von mehr als 2% und 3% U₃O₈ gezeigt, während die Jupiter-Liegenschaft von über 100 historischen Bohrlöchern profitiert. Das Unternehmen plant den Bau von 48 Bohrplätzen, was eine totale Störung von 2,00 Acres verursachen wird. Die nächsten Schritte umfassen die Finalisierung der Bonding-Maßnahmen, die Sicherstellung der Finanzierung und die Mobilisierung der Bohrteams, um die aktuellen Ressourcenschätzungen weiterzuentwickeln.
- Received regulatory approval for drilling permits at two uranium projects
- Historical high-grade uranium intercepts at Energy Sands showing over 2-3% U₃O₈
- Extensive database of over 100 historic drill holes at Jupiter Property enabling faster resource estimation
- Additional funding required before drilling can commence
- Historical data requires verification and may not be reliable
VANCOUVER, BC / ACCESSWIRE / November 5, 2024 / Pegasus Resources Inc. (TSXV:PEGA)(Frankfurt:0QS0)(OTC PINK:SLTFF) (the "Company" or "Pegasus") is excited to announce a significant advancement in its uranium exploration initiatives with the approval of our Notice of Intention (NOI) to Commence Exploration for the
Exploration Plans Overview:
The Energy Sands Property's high-grade historical uranium intercepts of over
Energy Sands Property: Eighteen drill holes are planned, with an average depth of 178 feet and approximately 3,200 feet of drilling. No monitoring wells will be installed. This property has a history of impressive uranium intercepts, with previous historical drilling reporting grades of over
2% and3% U₃O₈, emphasizing the significant potential of the mineralization in this area.Jupiter Property: Thirty drill holes are planned, with an average depth of 550 feet, totalling approximately 15,360 feet of drilling. Similar to Energy Sands, no monitoring wells will be installed. The property benefits from over 100 historic drill holes, which provide valuable data and allow for the expedited development of a current resource estimate, significantly advancing our resource delineation efforts.
Drilling pads will be constructed to minimize environmental impact, utilizing existing and new roads with a design that centers them to limit disturbance. Bonding covers the planned disturbance of 4.94 acres, including 48 drill pads and associated infrastructure. Each pad will measure 50x50 square feet.
Figure 1: Area Map
"We are thrilled to have reached this important milestone," stated Christian Timmins, CEO of Pegasus Resources. "Receiving these permits marks a significant step forward in our journey to define meaningful uranium resources in Utah, a region already hosting productive uranium operations. The excitement surrounding uranium is evident, and we are eager to contribute to the growing demand for this critical energy resource. With our inaugural drill program on the horizon, aimed at verifying historical data to develop a current resource estimate, we are well-positioned to deliver shareholder value and capitalize on the current market dynamics."
Next, Pegasus will finalize the bonding process, secure funding, and swiftly mobilize drilling crews. Our comprehensive drilling programs at Energy Sands and Jupiter represent not just an operational milestone but a strategic leap in our mission to define high-grade uranium resources, contributing to the United States' energy independence.
NI 43-101 Disclosure
The technical content of this news release has been reviewed and approved by Jacob Anderson, CPG, MAusIMM, who is a Resource Geologist for Dahrouge Geological Consulting USA Ltd., and a Qualified Person under National Instrument 43-101, who has prepared and/or reviewed the content of this press release.
The results discussed in this document are historical. Pegasus Resources nor the qualified person have not performed sufficient work or data verification of the historical data. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the Property's potential and are relevant for any future exploration program.
About Pegasus Resources Inc.
Pegasus Resources Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on uranium, gold, and base metal properties in North America. The Company is also actively pursuing the right opportunity in other resources to enhance shareholder value. For additional information, please visit the Company at www.pegasusresourcesinc.com.
On Behalf of the Board of Directors:
Christian Timmins
President, CEO and Director
Pegasus Resources Inc.
700 - 838 West Hastings Street
Vancouver, BC V6C 0A6
PH: 1-403-597-3410
X: https://twitter.com/MrChris_Timmins
X: https://twitter.com/pegasusresinc
E: info@pegasusresourcesinc.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
This news release contains certain information that may be deemed "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking information contained in this press release may include, without limitation, statements regarding creation of value for Company shareholders, completing the bonding process and obtaining the necessary funding to commence drilling.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company's expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company's public disclosure documents filed on the SEDAR+ website at www.sedarplus.ca.
The forward-looking information contained in this press release represents the expectations of Pegasus as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While Pegasus may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
SOURCE: Pegasus Resources, Inc.
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FAQ
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