Pegasus Resources Inc. (TSX-V:PEGA) is moving swiftly to secure the required permits to kickoff drilling this summer at the past-producing Energy Sands uranium project in Utah, where the results of a recent sampling program have underscored the property’s potential.
Of 41 samples collected, 13 returned uranium grades above 1% with one sample returning 18.8% uranium.
CEO Christian Timmins in conversation with Proactive expressed his excitement about the results and explained the work the company has carried out to prepare for its summer drill program.
Proactive: Tell me about the project and the results.
CT: We’ve had this project for a couple of years. We own the property 100%, there are no outstanding options. We did a ground program here in January and 13 days of sampling and the preliminary results that came back are really good. The assays were way better than expected. We ended up finding an amazing 18.8% uranium sample.
Can you explain where these samples were taken from?
These samples mostly came off the western side of the property. The land around here is very hard to find uranium and it’s considered a hidden area but we’re very lucky here that we managed to find a lot of surface samples. Again, very encouraging results. We’re looking forward to getting some drill permits put together to apply and drill this property this summer.
I imagine you’ve got a lot of really useful data already to help you understand where you would like to put a drill hole in.
In the ground program, we actually scoped out all our drill locations so we have a very advanced idea of where we’re going to put our drill pads. This is going to move on really quickly. We have all the locations scouted and we know where the roads are and have great infrastructure here on this property. Getting equipment in there is not going to be an issue. So it’s just a matter of getting the paperwork put together and filed with the Bureau of Land Management.
This conversation has been edited for clarity and style