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Okapi’s new uranium hits confirm excellent open-pit potential at Rattler Project
Mining
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‘Exceptional’ rock samples taken at both Rattlesnake and Sunnyside uranium prospects have returned values of up to 1.24% and 0.759% uranium oxide, providing the Rattler Uranium project is amenable to conventional open-pit mining.
Around 15 of the 28 samples collected have reported values of greater than 1,000 ppm uranium oxide collected from the Rattler project in December 2021, located about 85km north of Energy Fuels Inc’s White Mesa Uranium-Vanadium mill – the only conventional operating uranium mill in the USA.
Samples came from the mineralised sedimentary horizon in the old Rattlesnake Mine open pit as well as from outcrop and dumps outside the entrances to old mine workings – the goal being to determine the nature of surface accessible uranium mineralisation.
Uranium space proves to be an upward trend
Okapi Resources (ASX:OKR) managing director Andrew Ferrier said the company is now seeking to test Rattler’s exciting potential.
“The results of the initial surface exploration program confirmed the high-grade nature of the uranium mineralisation at the company’s Rattler Uranium Project with numerous assays across both Rattlesnake and Sunnyside showing exceptional high-grade uranium,” Ferrier said.
“We continue to believe 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.”
What’s next?
“The company has already submitted an application to drill at Rattler and is keen to follow up these excellent results with drilling in the near future,” Ferrier added.
The Rattler Uranium Project is in San Jan County in eastern Utah, around 5km west of the town of La Sal and 40kms southeast of Moab, within the historic La Sal Mining District which hosts several mines in-care-and-maintenance as well as numerous abandoned mines.
Historical production
The entire La Sal Mining District up to 1991 produced around 6.4 million lbs uranium oxide at an average grade of 3,200ppm uranium oxide and roughly 29 million lbs vanadia, (V 2 O 5) at an average grade of 14,600ppm vanadium oxide.
More recently Denison Mines and Energy Fuels Resources Corporation reported production between 2006 and 2012 of around 1.69 million lb uranium oxide at an average grade of 2,000ppm uranium oxide and 8.43 million lbs vanadium oxide at an average grade of 10,200ppm vanadium oxide.
This article was developed in collaboration with Okapi Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
