Okapi (ASX:OKR) builds US uranium position
January 5, 2023
Okapi Resources has significantly boosted its uranium potential in the US claiming 45 new mining claims at the Maybell Uranium Project in Colorado.
The strategic move improves Okapi’s coverage of a recognised uranium trend at Maybell (as shown in Figure 1), which previously produced over 5.3 million pounds (Mlbs) at an average grade of 1,300 ppm U3O8.
The Company’s exploration will benefit from valuable historical exploration and geologic reports and maps.
The catalogue includes more than 400 electric logs (many of which extend to the lower Browns Park uranium occurrences), detailed maps and mineralisation tabulations.
Excitingly, it also includes design, construction and operational data from Union Carbide’s mining and uranium production operations.
“We are excited by both the consolidation and recent exploration results at the Maybell Uranium Project,” Managing Director Andrew Ferrier said.
“Maybell has potential to be a significant project as the uranium renaissance in the United States continues to build.”
Price Action
OKR’s ASX-listed shares are 15.5c at Market Open.
Next Steps
Desktop review ahead of validation drilling in Q1 2023.
Other News
Meanwhile, 21 rock samples taken at Maybell Uranium Project from outcrops of exposed and mineralised Upper Brown’s Park Formation tuffaceous sandstone, have returned five assay values greater than 1,000 ppm U3O8 including up to 45,100ppm (4.51%) U3O8 and 687ppm Molybdenum.
Fundamental Data
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