Okapi Resources (ASX: OKR) has delivered a maiden JORC 2012 mineral resource estimate of 25.4Mt @ 490ppm U3O8 for 27.6 million pounds U3O8 at its Tallahassee Uranium Project located in Colorado, USA.
The MRE, which uses a 250ppm cut-off grade and includes measured, indicated, and inferred resource categories, is expected to be expanded once further work is completed to fully define the boundaries of the prospective mineralised channel.
Image source: Okapi Resources LimitedThe company reports that planning for a ~10,000m maiden drill program at the Tallahassee Uranium Project in 2022 is well advanced, as it aims to expand and improve confidence in the existing resource base, and acquire samples that can be used for initial metallurgical test work.
“[this] provides a robust platform on which to add further pounds via exploration within our current landholdings and through further value-accretive acquisitions”
Speaking on the result, Okapi Resources Executive Director David Nour said: “This is yet another significant milestone for Okapi, achieving a Maiden JORC 2012 Mineral Resource that provides a robust platform on which to add further pounds via exploration within our current landholdings and through further value-accretive acquisitions.”
The company holds a 100% interest in mineral rights that cover approximately 7,500 acres in the Tallahassee Creek Uranium District of Colorado, USA with large sections of ground untested or poorly tested by previous drilling.
Okapi reports that it has identified opportunities to acquire additional mineral rights in close proximity to those it already holds, which may enhance the economics of developing a stand-alone mining operation by expanding the project’s resource base.
