Okapi Resources Ltd (ASX:OKR) has extended the option date for its proposed acquisition of a 51% interest in the Hansen Uranium Project in Colorado, USA, by 30 days to no later than July 2, 2022.
The extension gives the companies time to finalise and execute a definitive agreement for the acquisition which was announced to market on April 7, 2022.
Hansen Project is immediately south of and adjacent to Okapi’s 100%-owned Taylor and Boyer uranium deposits and comprises two deposits known as Hansen and Picnic Tree.
These have a JORC (2012) mineral resource of 22.2 million pounds U3O8 at 610 ppm U3O8 (100% of which is attributable to Okapi via its 51% mineral interest).
Once the acquisition is complete, Okapi’s updated JORC (2012) resource for the Tallahassee Uranium Project will be 42 million tonnes at 540ppm for 49.8 million pounds of U3O8, representing an 81% increase to the size and 10% to the grade of Okapi’s existing JORC (2012) resource.
About OKR
There is significant exploration upside at Tallahassee, with the greater Tallahassee Creek Uranium District hosting more than 100 million pounds of U3O8 with considerable opportunity to expand the existing resource base by acquiring additional complementary assets in the district.
OKR’s portfolio of assets also includes an option to acquire 100% of the high-grade Rattler Uranium Project in Utah, which includes the historical Rattlesnake open pit mine.
The Rattler Uranium Project is 85 kilometres from the White Mesa Uranium Mill, the only operating conventional uranium mill in the USA, hence providing a near-term, low-capital development opportunity.
In January 2022, Okapi acquired a portfolio of high-grade exploration assets in the world’s premier uranium district, the Athabasca Basin in Canada. This basin is home to the world’s largest and highest-grade uranium mines.
Okapi is aiming to become a new leader in North American carbon-free nuclear energy by assembling a portfolio of high-quality uranium assets through accretive acquisitions and exploration.