Pegasus Resources Inc. (TSX-V:PEGA) CEO Chris Timmins joined Proactive's Stephen Gunnion with news the company has staked additional land in Utah adjacent to its 100% owned Energy Sands property.
Timmins said the additional land expands its existing project in Emery County by 160%, strategically positioning the company closer to known deposits owned by Western Uranium and Vanadium. The new property boasts infrastructure, including roads and highways, alongside proximity to Western Uranium's proposed processing mill. Timmons emphasized the historical production of uranium on the Energy Sands property in the 1950s, taking 52 tons of uranium and vanadium out of the ground.
The CEO outlined the company's upcoming plans, involving mapping, geological studies, and the application for drilling permits, setting the stage for a drill program in 2024.
With uranium gaining significance as a critical metal, Timmins highlighted the growing demand for nuclear energy, driving Pegasus' exploration efforts across its five projects, including four in Canada's Athabasca Basin.