SYDNEY, AUSTRALIA: Okapi Resources Limited (ASX: OKR) has completed the agreement to acquire an option over a 51% interest in the Hansen Uranium Project in Colorado, USA.

The acquisition increases Okapi’s Mineral Resource for the Tallahassee Uranium Project to 42.0 million tonnes at 540ppm for 49.8 million pounds of U3O8 representing an 81% increase to the size and an increase of 10% to the grade of Okapi’s existing JORC (2012) Mineral Resource.

The Hansen Uranium Deposit is located immediately south of, and adjacent to, Okapi’s 100%-owned Taylor and Boyer Uranium Deposits, and comprises two deposits known as the Hansen Uranium Deposit and the Picnic Tree Uranium Deposit. The Hansen and Picnic Tree Uranium Deposit contains 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).

Okapi’s Managing Director, Mr Andrew Ferrier said: “The coming period is a very exciting time, with the Company recently commencing diamond drilling at its 100% owned Enmore Gold Project in NSW, about to embark on an extensive summer field exploration program in the Athabasca Basin and we continue to advance our Tallahassee Uranium Project in the US which has significant strategic value given the recent geopolitical developments in the US uranium industry.

The announcements by the Biden Administration in early June 2022 marks a new beginning for the domestic U.S. uranium industry. Citing Russia’s ongoing invasion of Ukraine, the Biden Administration is now proposing a plan whereby the Department of Energy is requesting Congress for approval to purchase US$4.3 billion of enriched uranium directly of domestic producers, which is aimed at dramatically reducing America’s dependence on Russian imports of uranium.”