Pegasus Resources Inc. (TSX-V:PEGA) CEO Christian Timmins told shareholders that the company is entering an “exciting phase of exploration” following its recent acquisition of the Jupiter project and the work completed on the Energy Sands projects.
"The strategic integration of these projects allows us to leverage extensive historical data and modern geological techniques to maximize our exploration potential,” Timmins said in a statement.
The company is intensifying its exploration initiatives at the Jupiter Project and Energy Sands, using historical data and recent geological studies to drive resource development.
At the Jupiter Project, efforts include twinning historical drill holes and identifying new drill targets to expand the resource base and discover new mineralization zones. Pegasus is aiming to develop a comprehensive geological model and produce a resource estimate on the property.
The Jupiter project, acquired in July, is located three kilometres north of Energy Sands and includes over 100 historical drill holes. Pegasus said its proximity allows it to expedite the development of a uranium resource estimate, using historical data alongside new drilling programs to enhance understanding of the area's mineralization.
In addition to Jupiter and Energy Sands, Pegasus plans a gravity survey at Pine Channel on the north side of the Athabasca Basin this summer to refine future drilling targets.