Pegasus Resources Inc. (TSX-V:PEGA) has received the Pine Channel Mineral Exploration Permit for Diamond Drilling from the Saskatchewan Ministry of Environment, the company announced Thursday.
The series of permits covers the company’s upcoming exploration program at its Pine Channel Uranium Project and lays the foundation for a maiden drill program. Going forward, the next step is to clear up to six land drill holes with pads up to 400 square meters in size.
The permits, which include Crown Land Work Authorization, a Forest Product Permit and an Aquatic Habitat Protection Permit, come with conditions designed to address concerns voiced by local First Nations communities, the company said.
The conditions include provisions for caribou protection, specific site locations and impacts on traditional land users.
“The Pine Channel Uranium property holds immense promise, featuring shallow depths to the basement from the surface, historical exploration identifying conductive trends, and drilling that discovered anomalous uranium,” the company said in a statement.
Previous work at the site included a ground radon and ground gravity survey, which identified exploration targets that have led to significant uranium discoveries around the Athabasca Basin.
“We are excited to embark on this exploration phase and will ensure that all work is conducted responsibly and in line with environmental preservation principles,” the company added.
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