Tonogold Resources / Uranium American Resources Inc. Shareholder Update
Tonogold Resources (OTC Pink:TNGL), soon to be rebranded as Uranium American Resources Inc., has expanded its uranium and vanadium portfolio across three strategic projects in the western-central USA. Key developments include:
- Expansion of the Sky Property in Wyoming by 1,285 acres, building on existing 57 patented mining claims with historic resources of over 1M lbs U₃O₈
- Stateline Project sampling revealed high-grade mineralization with scintillometer readings up to 45,200 cps, showing >1% uranium and >1% vanadium
- Marysvale Project in Utah has historic resource estimates of up to 2.9 million lbs of U₃O₈
The company plans a 1-for-15 reverse stock split and has appointed new leadership, with over 80% of CLN holders converting into the new uranium/vanadium program.
Tonogold Resources (OTC Pink:TNGL), che sarà presto rinominata Uranium American Resources Inc., ha ampliato il suo portafoglio di uranio e vanadio attraverso tre progetti strategici negli Stati Uniti occidentali e centrali. I principali sviluppi includono:
- Espansione della Sky Property in Wyoming di 1.285 acri, ampliando i 57 diritti minerari brevettati esistenti con risorse storiche di oltre 1 milione di libbre di U₃O₈.
- I campionamenti del Stateline Project hanno rivelato mineralizzazione di alta qualità con letture del scintillometro fino a 45.200 cps, mostrando >1% di uranio e >1% di vanadio.
- Il Marysvale Project in Utah ha stime di risorse storiche fino a 2,9 milioni di libbre di U₃O₈.
L'azienda prevede uno spilt azionario inverso 1 per 15 e ha nominato una nuova leadership, con oltre l'80% dei detentori di CLN che si convertono nel nuovo programma di uranio/vanadio.
Tonogold Resources (OTC Pink:TNGL), que pronto será renombrada como Uranium American Resources Inc., ha ampliado su cartera de uranio y vanadio a través de tres proyectos estratégicos en el oeste-central de EE. UU. Los desarrollos clave incluyen:
- Expansión de la Sky Property en Wyoming en 1,285 acres, construyendo sobre 57 reclamos mineros patentados existentes con recursos históricos de más de 1 millón de libras de U₃O₈.
- El muestreo del Stateline Project reveló mineralización de alta ley con lecturas de centelleo de hasta 45,200 cps, mostrando >1% de uranio y >1% de vanadio.
- El Marysvale Project en Utah tiene estimaciones de recursos históricos de hasta 2.9 millones de libras de U₃O₈.
La empresa planea una división de acciones inversa de 1 por 15 y ha nombrado un nuevo liderazgo, con más del 80% de los tenedores de CLN convirtiéndose en el nuevo programa de uranio/vanadio.
Tonogold Resources (OTC Pink:TNGL), 곧 Uranium American Resources Inc.로 브랜드를 변경할 예정인 이 회사는 미국 서부 중앙 지역에 있는 세 개의 전략적 프로젝트를 통해 우라늄과 바나듐 포트폴리오를 확장했습니다. 주요 개발 사항은 다음과 같습니다:
- 와이오밍에 있는 Sky Property를 1,285 에이커 확장하며, 57개의 특허 채굴 청구권과 함께 100만 파운드 이상의 U₃O₈의 역사적 자원을 보유하고 있습니다.
- Stateline Project의 샘플링에서 스킨틸로미터 판독치가 45,200 cps에 달하는 고품질 광화가 발견되었으며, >1%의 우라늄과 >1%의 바나듐을 보여줍니다.
- 유타의 Marysvale Project에는 290만 파운드까지의 U₃O₈ 역사적 자원 추정치가 있습니다.
회사는 1대 15 비율의 역주식 분할을 계획하고 있으며, 80% 이상의 CLN 보유자가 새로운 우라늄/바나듐 프로그램으로 전환될 수 있도록 새로운 리더십을 지정했습니다.
Tonogold Resources (OTC Pink:TNGL), qui sera bientôt renommé Uranium American Resources Inc., a élargi son portefeuille d'uranium et de vanadium à travers trois projets stratégiques aux États-Unis, dans la région ouest-centre. Les développements clés comprennent :
- Expansion de la Sky Property dans le Wyoming de 1 285 acres, s'appuyant sur 57 claims miniers brevetés existants avec des ressources historiques de plus d'un million de livres d'U₃O₈.
- Les échantillonnages du Stateline Project ont révélé une minéralisation de haute qualité avec des lectures de scintillomètre allant jusqu'à 45 200 cps, montrant >1 % d'uranium et >1 % de vanadium.
- Le Marysvale Project dans l'Utah a des estimations de ressources historiques allant jusqu'à 2,9 millions de livres d'U₃O₈.
L'entreprise prévoit un fractionnement d'actions inversé de 1 pour 15 et a nommé une nouvelle direction, avec plus de 80 % des détenteurs de CLN se convertissant dans le nouveau programme d'uranium/vanadium.
Tonogold Resources (OTC Pink:TNGL), die bald in Uranium American Resources Inc. umbenannt wird, hat ihr Uran- und Vanadium-Portfolio in drei strategischen Projekten in den westlichen und zentralen USA erweitert. Zu den wichtigsten Entwicklungen gehören:
- Erweiterung des Sky Property in Wyoming um 1.285 Acres, die auf 57 bestehenden patentierten Bergbaansprüchen mit historischen Ressourcen von über 1 Million Pfund U₃O₈ aufbaut.
- Probenahmen des Stateline Project haben hochgradige Mineralisierungen mit Szintillometerwerten von bis zu 45.200 cps ergeben, die >1% Uran und >1% Vanadium zeigen.
- Das Marysvale Project in Utah hat historische Ressourcenschätzungen von bis zu 2,9 Millionen Pfund U₃O₈.
Das Unternehmen plant einen 1-zu-15-Rücksplit der Aktien und hat eine neue Führung eingesetzt, wobei über 80% der CLN-Inhaber in das neue Uran-/Vanadium-Programm übergehen.
- Expansion of Sky Property with additional 1,285 acres
- High-grade uranium and vanadium mineralization discovered at Stateline Project (>1% for both)
- Historic resource estimate of 2.9 million lbs U₃O₈ at Marysvale Project
- 80% of CLN holders converted to new uranium/vanadium program
- Pending 1-for-15 reverse stock split indicating share price concerns
- Projects rely heavily on historic data requiring validation
Highlights
April 12, 2024: Tonogold acquires a large, diversified uranium company based in the USA.
May 10, 2024: Tonogold's merger partner secures two additional leases, expanding the Sky Uranium portfolio by 1,285 acres (5.2 km²).
May 30, 2024: Positive assay results from a sampling program at the Stateline Project, including scintillometer readings up to 45,200 cps, with assays revealing >
1% Uranium and >1% Vanadium.October 29, 2024: Tonogold's board approves its rebrand as Uranium American Resources Inc. and announces new board.
WOODLAND HILLS, CA / ACCESSWIRE / December 4, 2024 / Tonogold Resources / Uranium American Resources Inc. (OTC Pink:TNGL) holds three unique, low-risk uranium and vanadium projects strategically located in the western-central USA, an area historically known for substantial uranium and vanadium production. These projects are in close proximity to historic mines and currently operating processing plants, providing potential logistical advantages.
Each project features highly prospective geology, with strong evidence from historical mining activities and a robust collection of existing datasets. JAG Minerals strategically acquired these properties during periods of low uranium prices from 2017 to 2020, positioning the Company to capitalize on the current favorable uranium market conditions.
Strategic Property Expansions & Technical Updates
Sky Property, Wyoming : On May 12, 2024, the Company expanded the Sky Uranium property in Fremont County, Wyoming by two additional state leases, comprising an extra 1,285 acres (5.2 km²), see Figure 2. This built on the existing 57 patented mining claims , with historic drilling data from the 1960s-1980s reporting a resource of over 1M lbsU₃O₈ .[1]
[1] Strathmore Minerals Corp, 9th February, 2007, link: https://www.sedarplus.ca/csa-party/records/document.html?id=3951328acb1462570581b8531492d806ae6ce69c9d1bd189672ec0934d572fb2
Stateline Sample Assays : On May 30, 2024, the company released assay results from a sampling program at the Stateline Project. The project covers 2.75 mi² (7.2 km²) across seven strategic areas in the highly prospective La Sal Creek District, approximately 19 km from the La Sal Complex operated by Energy Fuels Inc.
The project area features >19 Historic Uranium mines[2], producing Vanadium (V 2 O 5 ), with high vanadium content ranging from
The assay reveal promising high-grade uranium and vanadium mineralization. Scintillometer readings reached up to 45,200 cps , with assays showing >
[2] USGS MRDS database.
[3] Geology and uranium-vanadium deposits of the La Sal quadrangle, San Juan County, Utah, and Montrose County, Colorado, Carter, W.D., and Gualtieri, J.L. USGS, PP 508, 1965
Marysvale Project, Utah : On September 12, 2024, historic resource estimates at the Marysvale Project indicated up to 2.9 million lbs (1,315,000 kg) of U₃O₈ at depths of 300-800 feet (91-244 meters)[4] . This estimate is based on 115 historic drill holes and highlights potential for further resource expansion at depth.
The mineralisation has been described as a "blanket-type supergene" deposit formed from the remobilization of primary deposits along vertical faults. Extension is prospective due to a large alteration system along a major northwest-trending fault zone, confirmed by gamma ray (eU) anomalies detected from drilling.
[4] Proctor, P.D. (pre-2000). Private Report on the Marysvale Uranium Project. (Referenced in the NI 43-101 report by Havenstrite and Hardy, 2006).
Corporate Updates
New Leadership : The Company has appointed experienced professionals to its board of directors. Mr. Joe Phillips, the vendor of JAG Minerals Pty Ltd, brings 18 years of leadership experience, having served as COO, CEO, and Executive Chairman in North American (TSXV, TSX, and OTCQX) and Australian-listed companies. The new board has substantial executive management and financial expertise to support the Company's growth going forward.
Restructuring and Financing : Over
80% of Tonogold CLN holders have converted into the new Uranium/Vanadium program. Additionally, the Company is working on completing the financing to support this transition.Stock Structure Adjustment : The Company plans a reverse stock split at a 1-for-15 ratio .
Future Plans
The Company aims to enhance project value by:
Advancing resource understanding at Stateline through interpretation of historic drilling and gamma logging, combined with geochemical testing to identify resource extensions.
Updating NI 43-101 Technical Reports for both the Sky and Marysvale properties.
Focusing on expanding resource inventory, particularly bulk tonnage supergene deposits and high-grade vein deposits.
CEO William Hunter commented:
"In 2024 your company has undertaken a positive field geological field season with JAG Minerals USA, Inc., significantly expanding our uranium and vanadium claims across Wyoming, Utah, and Colorado. Our focus has been on properties with historic uranium data and accessible processing infrastructure.
With the support of legacy Tonogold convertible note holders, we've restructured the company effectively. These efforts are reflected in our stock performance in FY 2024. The NPV of these projects is significant with the Stateline Project alone justifying a major re-rating of our share price. Our rebranding is almost complete and we will be focusing on closing the transaction in the near term. This is an exciting time for Tonogold Resources / Uranium American Resources and we look forward to a very production FY 2025"
Enquiries
For further information, please contact:
William Hunter
Interim CEO Tonogold Resources Inc
M: +1 203 856 7285
E: bhunter@tonogold.com
SOURCE: Tonogold Resources, Inc.
View the original press release on accesswire.com
FAQ
What are the recent sampling results from TNGL's Stateline Project?
How many acres did TNGL add to its Sky Property in Wyoming?
What is the historic resource estimate for TNGL's Marysvale Project?
What is the planned reverse stock split ratio for TNGL?
