Exploration has begun for Pegasus Resources (TSXV: PEGA) at their Pine Channel property within the Athabasca Basin of Saskatchewan. The firm this morning indicated it has begun a RadonEX survey of the property.
The survey will be conducted a means of measuring radon anomalies on the property, to assist in the search for uranium. Such surveys have been widely used within the Athabasca Basin as a means of identifying prospective uranium targets for the further exploration.
“We are excited to be starting the RadonEX survey on Pine Channel. A previous RadonEX survey identified exploration targets on the Patterson Lake trend for Fission Uranium Corporation and Nexgen Energy Ltd., leading to the discovery of additional zones, including the Triple R Zone. We look forward to identifying exploration targets and following up on them up,” commented company President Chris Timmins.
Historical work on the Pine Channel property has previously identified two conductive trends. The first, at 2.5 kilometres long, was defined via airborne and ground EM surveys. The second, at 600 metres long, had not been followed up on historically. Notably, historic drilling on the property in the 1980’s identified the presence of uranium, including 0.15% U3O8 over 0.15 metres.
Pegasus Resources last traded at $0.055 on the TSX Venture.
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