- Pegasus (PEGA) has received initial work permits for its Pine Channel Uranium Project in Saskatchewan
- The project is prospective for unconformity-related uranium mineralization
- Phase 1 exploration will include a ground radon and ground gravity survey when ground conditions stabilize after the winter thaw
- Pegasus Resources is a junior mineral exploration company focused on uranium, gold and base metal properties in North America
- Pegasus (PEGA) closed down by 10 per cent trading at $0.09 per share
Pegasus (PEGA) has received initial work permits for its Pine Channel Uranium Project in Saskatchewan.
The project, located in the Athabasca Basin, is prospective for unconformity-related uranium mineralization with a shallow depth from surface to basement of 60 to 100 m.
Phase 1 exploration will include a ground radon and ground gravity survey when ground conditions stabilize after the winter thaw.
Historical work identified two conductive trends 2.5 km and 600 m in length, respectively.
Drilling in 1981 identified anomalous uranium in a hematite-rich fracture highlighted by
0.15-per-cent U3O8 over 0.15 m.
The project is also underlain at shallow depths by the Tanto Domain, which is host to numerous U, Cu, Ni and Au occurrences.
Pegasus Resources is a diversified junior Canadian mineral exploration company with a focus on uranium, gold and base metal properties in North America.
Pegasus (PEGA) closed down by 10 per cent trading at $0.09 per share.