Breaking Uranium Stock News - Pegasus Resources (TSXV: $PEGA.V) (OTC PINK: $SLTFF) Investor Update; @pegasusresinc
Key
Highlights:
Strategic
Acquisition and Exploration Progress: The acquisition of the Jupiter Project,
located just 3 km north of Energy Sands, completed on July 10, 2024, features
over 100 historical drill holes. This positions Pegasus to rapidly advance
toward developing a uranium resource estimate and to deepen our understanding
of the area's potential.
Advancing
Geological Understanding: Our 2024 exploration efforts began with a successful
ground sampling program at Energy Sands in January, which demonstrated a favourable
environment for uranium mineralization. Subsequent acquisition of historical
drilling data and analysis by Dahrouge Geological Consulting USA Ltd. revealed
trends indicative of paleochannel-hosted mineralization, refining our target
areas for potential resource development.
Permitting
and Preparations for Drilling: We have initiated the permitting process and
submitted all necessary documents to commence a comprehensive summer drilling
program at both projects, aiming to explore and expand known mineralization
zones.
VANCOUVER, BC / July 12, 2024 / (Investorideas.com
Newswire) Pegasus Resources Inc. (TSX-V:PEGA)
(OTCPK:SLTFF)
(Frankfurt:0QS0) (the "Company"
or "Pegasus") is excited to enter the third quarter of 2024 with
significant developments in our exploration initiatives, particularly with the
recent acquisition of the Jupiter Project and ongoing activities at our
established Energy Sands project. As we advance these projects, we are
positioned to significantly enhance shareholder value through strategic exploration
and development.
"We
are entering an exciting phase of exploration with the recent acquisition of
the Jupiter Project and the work completed on the Energy Sands projects,"
stated Christian Timmins, CEO, "The strategic integration of these
projects allows us to leverage extensive historical data and modern geological
techniques to maximize our exploration potential. Our dedicated team is focused
on advancing these projects rapidly, aiming to enhance our understanding of the
mineral resources and expand our operational scope. With our upcoming drill
program set to commence this summer, we are confident in our ability to deliver
substantial value to our shareholders and reinforce Pegasus Resources' position
as a leader in the uranium sector."
This news is paid advertisement/ news disseminated
on behalf of/issued on behalf of Pegasus Resources Inc.
Read
this in full at https://www.investorideas.com/news/2024/07121PEGA-Investor-Update.asp
Figure
1: Utah Area Map
2024 Overview:
The
year commenced with a successful ground sampling program at Energy Sands in
Utah in January 2024. The significant results, announced on March
25, 2024, indicated a favourable environment for uranium mineralization.
Following this, we added to our geological understanding by acquiring
historical drilling data of the area, which further defined the area's
potential. As detailed in our June
04, 2024 news release, analysis conducted by Dahrouge Geological Consulting
USA Ltd. identified a trend indicative of paleochannel-hosted mineralization.
This significant discovery, aligning with structural measurements and the
identified mineralization trends, aids in targeting potential mineral-hosting
paleochannels across the property. We have initiated the permitting process and
have submitted all necessary documents to launch a summer drilling program.
Adding
to our portfolio, the recent acquisition of the Jupiter Project (July 10, 2024), located 3
km north of Energy Sands, marks a pivotal expansion. Jupiter, boasting over 100
historical drill holes, is an exciting project that uniquely positions Pegasus
to expedite the development of a uranium resource estimate. This strategic
proximity to Energy Sands and Jupiter provides a significant opportunity for us
to use the available historical drill logs and future company drilling programs
to better understand the uranium mineralization in the area while looking to
find the next discovery. The strategic significance of this acquisition is
immense, and we are poised to begin work at Jupiter once we have secured the
required permits and funding, and completed the tendering process to acquire
the necessary equipment and crews for a summer drilling program, with
expectations set on rapidly advancing our exploration and resource development
objectives at Jupiter.
Exploration Update:
As
we progress through 2024, Pegasus Resources is actively advancing our
exploration initiatives at both the Jupiter Project and Energy Sands, leveraging
historical data and recent geological studies to guide resource development.
Jupiter Project:
Our exploration approach at the Jupiter Project is comprehensive, involving the
twinning of historical drill holes, detailed logging of old drill holes, and the
identification of new drill targets. These efforts are crucial not only for
expanding the known resource base but also for discovering new mineralization
zones. We are developing a robust geological model for the Jupiter Project that
will substantially enhance our resource development plans. Utilizing extensive
historical drilling data, our goal is to refine our exploration strategies and
produce a resource estimate that meets the current CIM Definition Standards on
Mineral Resources and Mineral Reserves. The wealth of historical data available
underscores the considerable potential for uranium mineralization, laying a
strong foundation for our ongoing exploration efforts.
Energy Sands:
Following a successful ground program in January 2024, which involved a
detailed review of historical drill logs, we have moved forward with securing
the necessary drilling permits for the Energy Sands project. Once permits are
in place, our next steps include initiating the tendering process to source the
essential equipment and skilled crews required for a comprehensive summer
drilling program. This upcoming program is designed to build upon the insights
gained from recent mapping conducted by Dahrouge Geological Consulting USA Ltd.
Our focus will be on targeting and further investigating potential
mineral-hosting paleochannels that have been identified across the property,
aiming to delineate and expand these mineralized zones.
Integrated Exploration Strategy:
By synchronizing our exploration strategies at both Jupiter and Energy Sands,
Pegasus Resources is effectively harnessing synergies between the two projects.
This integrated approach not only streamlines our operational efforts but also
enhances our ability to quickly adapt and respond to geological findings as they
emerge. The proximity of Jupiter to Energy Sands offers unique opportunities
for operational efficiencies and resource sharing, ensuring that our
exploration programs are both cost-effective and strategically aligned.
These
combined efforts at Jupiter and Energy Sands underscore our commitment to
advancing these projects toward their full potential, with the aim of
significantly enhancing shareholder value through the discovery and development
of valuable uranium resources. As we continue to progress with our drilling and
exploration programs, Pegasus Resources remains dedicated to upholding the
highest standards of resource estimation and sustainable mining practices.
Pine Channel:
Located on the north side of the Athabasca Basin, Pine Channel is slated for a
gravity survey this summer. This survey will enhance our understanding of the
property and refine targets for future drilling operations. The gravity survey
will play a crucial role in our strategic exploration efforts.
The
company also announces an agreement with Fairfax Partners Inc. dated July 9th,
which will provide social media marketing communication support for a two-month
period for a fee of C$75,000 plus goods and services tax, then C$10,000 plus
goods and service tax for the following 6 months. The services include content
development, social media campaign and analytics. The total term of the Fairfax
agreement is for a period of 8 months ending March 9th, 2025. Fairfax and its
principals are arm's length to the company.
As
we continue to advance our strategic projects, Pegasus Resources is uniquely
positioned in the uranium sector to capitalize on both established and emerging
opportunities. Our recent agreements and exploration advancements underscore
our commitment to leading the industry in discovery and resource development.
For more information and regular updates, investors are encouraged to visit our
website or contact our investor relations team.
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.
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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