With several uranium properties now under its belt, including the recent purchase of a significant asset in South Dakota, its now time for Pegasus Resources (TSXV: PEGA) to begin exploring. The firm this morning indicated it has obtained approval for its planned program in the Athabascan Basin of Saskatchewan.
Work permits have been received for its initial exploration program planned at the Pine Channel uranium project in the Athabasca Basin region. The first work to be conducted is to include a ground radon and ground gravity survey across the property.
The exploration strategy has been selected based on the success seen by the firms peers within the region. Ground radon surveys recently lead to the discovery of Fission Uranium’s Triple R property, along with discoveries made by Nexgen Energy.
Pegasus will look to build upon historical data it currently holds for the property. There are two known conductive trends present, with the first being 2.5 kilometres long and the second being 600 metres long. The property is said to notably have a very shallow depth to the basement from surface of 60 to 100 metres.
Work is set to begin shortly once stable ground conditions are available following the spring thaw.
Pegasus Resources last traded at $0.10 on the TSX Venture.
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