Pegasus Resources Inc. (TSX-V:PEGA) has announced what it calls a "significant milestone" in its strategic plans to discover uranium by successfully staking new land in Utah adjacent to its 100% owned Energy Sands property, bolstering its portfolio with the addition of 48 new lode claims.
The mineral exploration company said the initiative has increased the footprint of its Energy Sands property by 160%.
Pegasus noted the next phase of development involves initiating a comprehensive mapping and sampling program to delineate potential drill targets.
The company added that following the mapping and sampling phase, it plans to submit applications for drilling permits, a crucial step in advancing the exploration process.
Pegasus expects the moves will make the Energy Sands property drill-ready by the second quarter of the upcoming year.
The Energy Sands project produced uranium on a small scale for four years during the mid 1950s, according to the company.
Pegasus Resources is a diversified junior Canadian mineral exploration company with a focus on uranium, gold, and base metal properties in North America.
Contact Sean at sean@proactiveinvestors.com