Exploration is expected to begin in the near term for Pegasus Resources (TSXV: PEGA) at the recently acquired Energy Sands Uranium Project in Utah. The firm has reportedly hired a firm to manage field exploration work at the property.
Exploration work at the property is reportedly to be managed by Dahrouge Geological Consulting, via their Denver-based office. Founded in 1971, Dahrouge is highly experienced in both technical and project management services for the exploration and development industries, and currently has offices in Edmonton and Denver.
Acquired in February 2022, the Energy Sands Project consists of 30 unpatented lode claims that cover a total area of 600 acres. Found just 4 kilometres from the San Rafael Uranium Project being developed by Western Uranium, the property has seen historical small-scale production that was conducted in the 1950’s. A total of 51.8 tons of 0.373% U3O8 and 1.10% V2O5 was pulled out of the ground at that time.
Sponsored · Antimony Resources
The small-scale mining is said to have occurred on two separate regions of the property, with both uranium and vanadium mineralization present. Furthermore, the company has indicated that there is “demonstrated potential to establish resources,” at the project.
Initial ground exploration is expected to begin shortly at the Energy Sands project, with further information not provided at this time.
Pegasus Resources last traded at $0.07 on the TSX Venture.
FULL DISCLOSURE: Pegasus Resources is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Pegasus Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
