FULL DISCLOSURE: This is sponsored content for Pegasus Resources.
Pegasus Resources (TSXV: PEGA) has seen success in a recent sampling program conducted at its Energy Sands project in Utah. The program, conducted over a period of 13 days, saw a total of 41 grab samples collected by the company for analysis.
Highlights from the results include:
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- ESRS24-003: 1.90% U3O8, 5.30% V2O5
- ESRS24-007: 3.5% U3O8, 5.34% V2O5
- ESRS24-016: 18.8% U3O8, 0.56% V2O5
The samples collected are said to have been derived from outcrops, tailings, and historical mine workings. Of the 41 samples collected, 13 samples had results above 1.00% U3O8, 4 samples with values ranging from 0.50% to 1.00% U3O8, and 24 samples with values ranging from 0.00% to 0.50% U3O8.
“The remarkable 18.8% U3O8 concentration in sample ESRS24-016 validates the high-grade uranium potential at our Energy Sands project in Utah. These results significantly enhance our confidence in the uranium mineralization of this asset, and this analysis will serve as a crucial guide for drill targeting and permit applications needed to take Energy Sands to drill-ready status,” commented Christian Timmins, CEO of Pegasus Resources.
Results from the sampling program are expected to be utilized for finalizing drill targets at the Energy Sands project. Pegasus is currently in the process of submitting an application to the Bureau of Land Management for a proposed summer drill campaign.
The Energy Sands project consists of 1,560 acres of land claims in the San Rafael Uranium District, found 4 kilometres from the San Rafael Uranium Project operated by Western Uranium and Vanadium. Small scale production of uranium occurred on site from 1953 through to 1956, resulting in the production of 103,600 pounds of uranium at grades of 0.373% U3O8 and 1.10% V2O5.
Pegasus Resources last traded at $0.165 on the TSX Venture.
FULL DISCLOSURE: Pegasus Resources is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Pegasus Resources. 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. Always do additional research and consult a professional before purchasing a security.
