10/03/2022 - 12:36

Rock chips point to high-grade US uranium for Okapi

10/03/2022 - 12:36

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Rock chips point to high-grade US uranium for Okapi
Okapi Resources is readying the drill bit after scoring a string of high-grade rock chip results. Credit: File

ASX-listed Okapi Resources has its sights set on a drilling campaign at its Rattlesnake prospect after a 28-piece rock chip sampling program yielded grades as high as 1.24 per cent triuranium octoxide. According to the company, the “exceptional” results didn’t end there with over half of the sample set producing values above 1,000 parts per million. The prospect is part of the larger Rattler uranium project in the La Sal mining district of Utah.

Okapi says the Rattlesnake rock chips were gathered from outcrops and mine dumps around the now-abandoned Sunnyside mine in addition to the mineralised sedimentary horizon in the old Rattlesnake open pit mine and from the area outside the entrances of the old mine’s workings.

The company is now gearing up to probe the targets with applications already underway to drill test Rattler.

Meanwhile, rock chips bagged from the proximal Sunnyside prospect outlined the neighbouring grounds potential with grades of up to 0.759 per cent or 7,590 parts per million triuranium octoxide.

According to the company, the grass-roots exploration at the Rattler uranium project has confirmed the high-grade nature of the uranium mineralisation across the ground and is supported by “outstanding” uranium hits at the nearby Sunnyside prospect.

The Rattler uranium project is located in eastern Utah's San Jan County, about 5 kilometres west of La Sal and 40 kilometres south-east of Moab. The project is located in the historic La Sal Mining District, that hosts a number of active and abandoned mines.

The project also sits around 85 kilometres from Energy Fuels Inc's White Mesa Uranium/Vanadium mill in Utah, the country's sole conventional uranium mill in operation.

A recent study by the International Energy Agency states global power consumption could climb by 52 per cent between 2020 and 2040 and 75 per cent between 2020 and 2050.

With much of the world focusing on decarbonising by 2050, many are pondering what role uranium will play.

Okapi could find itself in the right neighbourhood with the right asset following its high-grade rock chips results. Now for the rotary truth diviner to add weight to its initial work.

 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au

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