New Junior
Uranium Miner Stock to Watch - Pegasus Resources (TSX-V: $PEGA.V) (OTCPK: $SLTFF)
Samples 18.8% U308 at Energy Sands Utah; @pegasusresinc
Vancouver, Canada - March 26, 2024 (Investorideas.com
Newswire) Pegasus Resources Inc. (TSX-V:PEGA) (OTCPK:SLTFF) (Frankfurt:0QS0) (the "Company" or
"Pegasus") proudly announces 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.
Read this news, featuring PEGA in
full at https://www.investorideas.com/news/2024/03261PEGA-Samples-Energy-Sands-Utah.asp
"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.
Table 1:
Significant Vanadium and Uranium Sample Assay Results
Figure 1: Uranium Field Sample Assay Results
Historical production on the Energy
Sands Project reported by the United States Geological Survey indicates that
51.8 Tons with a grade of 0.373% U308 and 1.10% V2O5 was extracted between 1953
and 1956 (Byers & Robertson, 1956)
NI 43-101 Disclosure
The technical content of this news release has been reviewed and approved by
Jacob Anderson, CPG, MAusIMM, who is a Resource Geologist for Dahrouge
Geological Consulting USA Ltd., and a Qualified Person under National
Instrument 43-101, who has prepared and/or reviewed the content of this press
release.
Quality Assurance / Quality Control
During sampling two blank samples consisting of a quartz matrix were included
among the samples submitted to Pace Analytical.
About Pegasus Resources Inc.
Pegasus Resources Inc. is a diversified Junior Canadian Mineral Exploration
Company with a focus on uranium, gold, and base metal properties in North
America. The Company is also actively pursuing the right opportunity in other
resources to enhance shareholder value. For additional information, please
visit the Company at www.pegasusresourcesinc.com.
On Behalf of the Board of Directors:
Christian Timmins
President, CEO and Director
Pegasus Resources Inc.
700 - 838 West Hastings Street
Vancouver, BC V6C 0A6
PH: 1-403-597-3410
X: https://twitter.com/MrChris_Timmins
X: https://twitter.com/pegasusresinc
E: info@pegasusresourcesinc.com
Neither the TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of
this release.
Forward-Looking Statements
Statements included in this announcement, including statements concerning the
Company's plans, intentions, and expectations, which are not historical in
nature are intended to be, and are hereby identified as, "forward-looking
statements." Forward-looking statements may be identified by words
including "anticipates," "believes," "intends,"
"estimates," "expects" and similar expressions. The Company
cautions readers that forward-looking statements, including without limitation
those relating to the Company's future operations and business prospects, are subject
to certain risks and uncertainties that could cause actual results to differ
materially from those indicated in the forward-looking statements.
SOURCE: Pegasus Resources Inc.
Pegasus
Resources Inc. (TSX-V:PEGA) (OTCPK:SLTFF) (Frankfurt:0QS0) is a featured mining
stock on Investorideas.com
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