Pegasus Resources Inc. (TSX-V:PEGA) has reported highly encouraging results from its recent sampling program at the past-producing Energy Sands uranium project in Utah.
The Canadian junior explorer said that of 41 samples collected from mineralized outcrops, tailings, and historical mine workings, 13 returned uranium (U308) grades above 1%.
Highlights included sample ESRS24-016 returning 18.8% U3O8 and sample ESRS24-007 returning 3.5% U3O8.
"The remarkable 18.8% U3O8 concentration in sample ESRS24-016 validates the high-grade uranium potential at our Energy Sands project in Utah," Pegasus Resources CEO Christian Timmins said in a statement.
"These results significantly enhance our confidence in the uranium mineralization of this asset, and this analysis will serve as a crucial guide for drill targeting and permit applications needed to take Energy Sands to drill-ready status."
The company said it will now focus on finalizing drill targets and submitting applications to the Bureau of Land Management for the permits required for a drill program this summer.