March 26, 2024 (Globalinvestorideas.com Newswire) Mining Stock News Bites – Pegasus Resources Inc. (TSXV:PEGA) (Frankfurt:0QS0) (OTC PINK:SLTFF) is up over 20% on sample news results , currently trading at $0.020 on the TSXV, with a morning high of 0.2250 on higher than average volume.
Pegasus announced significant findings from its recent sampling program at the past-producing Energy Sands project in Utah. Out of 41 samples collected, 13 have demonstrated uranium (U3O8) grades exceeding 1%, with notable results, including sample ESRS24-016 returning 18.8% U3O8 and sample ESRS24-007 returning 3.5% U3O8.
“The remarkable 18.8% U3O8 concentration in sample ESRS24-016 validates the high-grade uranium potential at our Energy Sands project in Utah,” commented CEO Christian Timmins. “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.”
During the 13-day program, Pegasus collected 41 grab samples using the RS-125 handheld spectrometer to locate areas of uranium mineralization. Notable samples were collected from mineralized outcrops, tailings, and historical mine workings. This completion of geological mapping and sampling is a vital step in advancing Pegasus’ exploration efforts, providing valuable insights into the Energy Sands property’s uranium and vanadium potential. The Company remains committed to leveraging this data for informed decision-making as it continues to pursue sustainable resource development.
Sample results for 13 samples with results above 1% U3O8 are included in Table 1 below. The remaining 28 samples are distributed into the following ranges.
0.5% – 1% U3O8 (4 samples)
0% to 0.5% U3O8 (24 samples)
Building on the success of the sampling program, Pegasus will now focus on finalizing drill targets and submitting applications to the Bureau of Land Management (BLM) for associated permits required for a proposed summer drill program. These proactive measures align with the Company’s commitment to maximizing the value of its assets and further exploring the potential of the Energy Sands Uranium project.
Read the company’s full news and disclaimer here:
https://ca.finance.yahoo.com/news/pegasus-resources-samples-18-8-200000930.html
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