SYDNEY, AUSTRALIA: Okapi Resources Limited (ASX: OKR) has completed the staking of 468 federal unpatented mining claims covering 3,600 ha to acquire the Maybell Uranium Project in Colorado, USA.
Okapi has secured a significant portion of the Maybell mineralised trend, which includes the area of historical production and other known mineralised occurrences and prospects. Based on the historical production and exploration data there is significant potential for the further delineation and discovery of near surface uranium resources at the Maybell Uranium Project.
Okapi’s Managing Director, Mr Andrew Ferrier said: “We are excited by the opportunity to acquire the Maybell Uranium Project in Colorado, USA. This adds another uranium asset to Okapi’s North American portfolio. Completing the Maybell Uranium Project acquisition clearly exhibits the strength of the management team to identify and acquire highly prospective uranium projects in the USA.
Staking the Maybell Uranium Project is directly on strategy for Okapi who are looking to acquire assets in the right circumstances with the aim of expanding the portfolio and providing shareholders with a diversified exposure to uranium in North America. We continue to believe that the uranium space is in an upward trend and Okapi is currently assembling and developing the right portfolio of assets to create value for shareholders”.
Okapi Resources Limited owns and operates a portfolio of advanced, high grade uranium assets located in the United States of America.
Assets include a strategic position in one of the most prolific uranium districts in the USA – the Tallahassee Creek Uranium District in Colorado. The Tallahassee Uranium Project contains a JORC 2012 Mineral Resource estimate of 27.6 million pounds of U3O8 at a grade of 490ppm U3O8 with significant exploration upside.
The greater Tallahassee Creek Uranium District hosts more than 100 million pounds of U3O8 with considerable opportunity to expand the existing resource base by acquiring additional complementary assets in the district.
The 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 located 85km from the White Mesa Uranium Mill, the only operating conventional uranium mill in the USA hence provides a near term, low-capital development opportunity.
In addition, Okapi is currently conducting due diligence over a portfolio of high-grade exploration assets in the world’s premier uranium district, the Athabasca Basin. The Athabasca Basin is home to the world’s largest and highest grade uranium mines.
Okapi’s clear strategy is 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.
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