- The US Forest Service has approved Manhattan Uranium Discovery (TSXV:MANU) to drill the Apex Project, Nevada’s largest past-producing uranium mine.
- The North American uranium company is advancing a more than 25,000-acre portfolio across the United States and Canada’s prolific Athabasca Basin.
- Manhattan Uranium stock is unchanged trading at C$0.445 as of 9:47 am ET.
The US Forest Service has approved Manhattan Uranium Discovery (TSXV:MANU) to drill the Apex Project, Nevada’s largest past-producing uranium mine.
This article is a journalistic opinion piece which has been written based on independent research. It is intended to inform investors and should not be taken as a recommendation or financial advice.
The junior uranium company is permitted to construct up to seven drill pads, plus a staging area, while being granted new temporary road access and limited cross-country travel, encompassing a surface disturbance of 0.93 acres.
Apex is responsible for about 50 per cent of Nevada’s all-time uranium output, according to Thursday’s news release, yielding historical intercepts up to 34.1 metres at 0.37 per cent U₃O₈ and 15.2 m at 0.51 per cent U₃O₈.
The permit, granted for an initial one-year window, complements Manhattan’s extensive North American uranium portfolio, including 15 past-producing mines on 25 underexplored US properties, and aligns with several US Executive Orders to expand and fortify the domestic nuclear supply chain.
The milestone follows multiple rounds of review since the plan’s initial submission in September 2022, with approval officially granted on May 18, validating the company’s site-specific protocols for radiation safety, environmental monitoring, worker protection, as well as best management practices tailored to uranium exploration on National Forest lands.
Leadership commentary
“Receipt of our Apex plan of operations approval from the US Forest Service is a pivotal milestone for Manhattan. Nevada has never seen a modern drill program on its largest historical uranium producer, and we are now positioned to change that. Years in the making, this approval comes at a critical time as domestic uranium supply has become a national priority,” William Sheriff, Chairman of Manhattan Uranium Discovery, said in a statement.
“Apex has always stood out in our portfolio, Nevada’s largest past-producing uranium mine, with surface sampling returning up to 1 per cent U₃O₈ across approximately three kilometres of showings. This plan of operations approval clears the path for the first modern drill program in the project’s history,” added Galen McNamara, Manhattan Uranium’s CEO.
About Manhattan Uranium Discovery
Manhattan Uranium is a North American uranium company advancing a more than 25,000-acre portfolio across the United States and Canada’s prolific Athabasca Basin backed by a leadership team with decades of uranium discovery, project advancement and capital markets experience.
Manhattan Uranium stock (TSXV:MANU) is unchanged trading at C$0.445 as of 9:47 am ET.
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