Pegasus Resources Inc. (TSX-V:PEGA) said it had hit significant 7,800 parts per million (ppm) mineralization on its Energy Sands property, boosting confidence in the potential of the project.
The firm recently completed a comprehensive geological mapping and sampling program at the property in Utah.
During the 13-day program, a total of 41 samples were meticulously collected from various sources, including prospector outcrops, tailings, outcrops, and historical adits.
The samples have been submitted to the laboratory for in-depth analysis to uncover the mineral composition, the company said in a statement.
CEO Christian Timmins called the 7,800 ppm reading “significant” and told shareholders that the result is an exciting confirmation of promising mineralization at the property.
"This result boosts our confidence in its strategic value, and we look forward to the detailed analysis from SGS,” Timmins said.
The RS-125 handheld spectrometer was utilized during the program to identify noteworthy samples, and ESRS24-037's substantial mineralization reading is expected to play a pivotal role in shaping the company's future exploration strategies.
The analysis will guide informed decisions and strategic advancements in the firm’s exploration efforts at Energy Sands, Timmins added.