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VANCOUVER, British Columbia, Feb. 23, 2022 (GLOBE NEWSWIRE) — Pegasus Assets Inc. (TSX-V: PEGA: Frankfurt – 0QS, OTC/Pink Sheet image: SLTFF) (the “Firm” or “Pegasus”) is happy to announce the acquisition, by staking, of the Vitality Sands Venture (the “Property” or “Venture”), positioned in Emery County, Utah. The Venture consists of sandstone-hosted uranium and vanadium mineralization with demonstrated potential to determine sources, with historic small-scale mining having occurred in two remoted areas of the Property.
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“We really feel the worldwide uranium market ought to proceed to construct energy because the push for inexperienced vitality options speed up. As we construct our diversified uranium portfolio we’re persevering with to judge uranium property in Canada and america,” states Charles Desjardins, CEO and President of Pegasus. “Given the current geopolitical local weather uranium demand ought to proceed to speed up.”
Venture highlights:
- 30 unpatented lode claims, totalling 600 acres.
- Situated throughout the San Rafael Uranium District, and roughly 4 kilometres from the San Rafael Uranium Venture of Western Uranium.
- Historic small-scale manufacturing, between 1953 and 1956, totalling 51.8 Tons at a grade of 0.373% U3O8 and 1.10% V2O5.
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Uranium mineralization on the Venture is hosted throughout the Salt Wash Member of the Jurassic Morrison Formation. Mineralization throughout the Tidwell Mineral Belt of the San Rafael Uranium District is oriented in a sequence of roughly northeast developments. Particular person mineralized our bodies are tabular to lenticular with the lengthy axis aligned alongside the development.
The Vitality Sands Venture is on-trend and roughly 4 kilometres from the Western Uranium’s Rafael Uranium Venture, which is host to 758,050 tons of indicated mineral sources averaging 0.225% U3O8 and 0.30% V2O5 (containing 3,404,600 million kilos of U3O8 and 4,595,600 million kilos of V2O5); and 453,850 tons of inferred mineral sources averaging 0.205% U3O8 and 0.28% V2O5 (containing 1,859,600 million kilos of U3O8 and a pair of,510,600 million kilos of V2O5), at a reduce off grade of 0.06% U3O8 (from the Nov-19, 2014 Technical Report filed by Western Uranium).
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Administration cautions that previous outcomes or discoveries on adjoining properties (i.e. Rafael Uranium) could not essentially be indicative to the presence of mineralization on the Firm’s properties (i.e. Vitality Sands).
A historic report, archived by the United Said Geological Survey (USGS) outlines small-scale manufacturing of uranium by the Minerals Company of America, totalling 51.8 Tons at a grade of 0.373% U3O8 and 1.10% V2O5 occurred between 1953 and 1956 (Byers & Robertson, 1956).
The Firm’s QP shouldn’t be in a position to confirm the quantity and grades of the historic manufacturing.
Pine Channel Uranium
In additional information, Pegasus is continuous the allowing course of for its Pine Channel uranium venture positioned within the northern Athabasca Basin, Saskatchewan with a view to start work shortly after receipt of permits.
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Certified Particular person
The technical info contained on this information launch has been reviewed by Neil McCallum B.Sc., P.Geo., of Dahrouge Geological Consulting, who’s a “Certified Particular person” as outlined in NI 43-101.
About Pegasus Assets Inc.
Pegasus Assets Inc. is a diversified Junior Canadian Mineral Exploration Firm with a deal with uranium, gold and base metallic properties in North America. The Firm can be actively pursuing the proper alternative in different sources to boost shareholder worth. For extra info please go to the Firm at www.pegasusresourcesinc.com or contact Charles Desjardins at charles@pegasusresourcesinc.com.
On Behalf of the Board of Administrators
Charles Desjardins
President and Director
Pegasus Assets Inc.
700 – 838 West Hastings Road
Vancouver, BC V6C 0A6
PH: 1-604-369-8973
E: information@pegasusresourcesinc.com
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Neither the TSX Enterprise Trade nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this launch.
Ahead Trying Statements
Statements included on this announcement, together with statements in regards to the Firm’s plans, intentions and expectations, which aren’t historic in nature are supposed to be, and are hereby recognized as, “forward-looking statements”. Ahead-looking statements could also be recognized by phrases together with “anticipates”, “believes”, “intends”, “estimates”, “expects” and comparable expressions. The Firm cautions readers that forward-looking statements, together with with out limitation these referring to the Firm’s future operations and enterprise prospects, are topic to sure dangers and uncertainties that would trigger precise outcomes to vary materially from these indicated within the forward-looking statements.
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