Peninsula Energy significantly expands US uranium portfolio
October 26, 2023 at 05:16 pm EDT
Share
(via NewsDirect)
Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF) CEO Wayne Heili tells Proactive the company has expanded its US uranium portfolio with the newly established Dagger Project, just 20 kilometres northeast of its advanced-stage Lance Project in Wyoming. With an initial inferred mineral resource estimate of 6.9 million pounds of uranium at an average grade of 1,037 parts per million, the Dagger Project presents a compelling addition to Peninsula's portfolio. The Dagger Project sits on an expansive 4,140 acres, contiguous with a historically successful uranium mining site.
Heili said: “We are very excited to complete this successful long-term acquisition initiative, which has resulted in the establishment of the Dagger Project which boasts an initial JORC inferred U3O8 mineral resource estimate of 6.9 million pounds U3O8.
Importantly, Dagger is located only 20 kilometres from our Lance Project facilities, which provides the company with an exciting opportunity to further increase the size and scale of our already sizeable mineral resource inventory.
“Buoyed by the robust uranium market that provides a supportive environment for re-emerging producers and project developers, we have utilized our in-house knowledge and expertise to expand our project pipeline."
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
Jonathan@proactiveinvestors.com
Copyright (c) 2023 TheNewswire - All rights reserved.
Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases
Peninsula Energy Limited is an Australia-based uranium mining company. The Company owns the Lance Project (Lance) and Dagger Project. The Lance Project is located in Wyoming, United States of America, operated through its 100% owned subsidiary, Strata Energy Inc (Strata). The Lance Projects comprise the Ross Production Project Area, Kendrick Development Project Area and Barber Exploration Area. The Lance Projects are located in Crook County, in northeastern Wyoming, approximately 31 miles east-northeast of the town of Gillette and extend over a strike length of 37 kilometers (kms) to the north, and over a strike width of eight km. It holds mineral rights and surface access rights over a non-contiguous north-south distance of about 50 km. It has mineral rights over 34,068 acres and surface access rights over land holdings 8,426 acres. The Dagger Project in Crook County, Wyoming lies within the North Black Hills district in the northeast corner of the state.