Pegasus Resources Set To Begin Exploring Uranium Properties

Pegasus Resources (TSXV: PEGA) this morning revealed its exploration plans for its uranium properties. The plans revealed primarily focus around the first acquired property, the Pine Channel property within the Athabasca Basin of Saskatchewan.

At the Pine Channel Property, Pegasus is set to begin exploration with a radon soil gas survey, which will enable the company to detect any possible uranium mineralization at depth. This survey will then be followed up with a ground gravity survey, which is intended to detect possible alteration zones in relation to any mineralization found.

Following this, the company will then compile the data to bring the property to a drill ready stage. Data from the two surveys is to be combined with historical geophysics that were conducted on the property.

Elsewhere at the Bentley Lake, Wollaston Northeast and Mozzie Lake properties, the latter of which has a historical resource estimate of 535,718 pounds of U3O8, the company will begin the compilation of data of historical work conducted on the properties. Following this, the firm will then be able to conduct a methodical exploration program in the springtime.

“We are excited to have built this prospective uranium portfolio at such a key time in the market and look forward to advancing exploration and unlocking value for our shareholders,” commented Charles Desjardins, CEO of the company.

Pegasus Resources last traded at $0.09 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. Always do additional research and consult a professional before purchasing a security.

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