Okapi Resources (ASX: OKR) has uncovered ‘exceptional’ uranium mineralisation from initial surface exploration at its Rattler Uranium Project in the La Sal Mining District, Utah.
Rock samples from the Rattlesnake prospect returned values up to 1.24% U3O8 (12,400ppm) while further samples from the Sunnyside prospect returned up to 0.759% U3O8 (7,590ppm).
OKR noted that the new uranium hits confirm that Rattler Uranium Project is potentially amenable to conventional open-pit mining.
Commenting on the results, Okapi Resources Managing Director Andrew Ferrier said: “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.
“numerous assays across both Rattlesnake and Sunnyside show exceptional high-grade uranium”
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.
We continue to believe that 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.”
OKR had commenced an initial surface exploration program at the Rattler Uranium Project to determine the nature of surface-accessible uranium mineralisation.
Rock samples were collected 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.
Rock samples also came from outcrops and the mine dumps in the Sunnyside claim block around the now abandoned Sunnyside Mine.
A total of 28 rock samples were collected from both Rattlesnake and Sunnyside during December 2021, of which 15 reported values of greater than 1,000 ppm U3O8.
The Rattler Uranium Project comprises 98 Bureau of Land Management unpatented Federal mining claims encompassing approximately 1,960 acres, and is located 85km north of the White Mesa Uranium/Vanadium mill in Utah; the only operating conventional uranium mill in the United States.
The project area includes the historical Rattlesnake open pit mine, which was discovered in 1948 and operated through until 1954. Historic production from the mine reportedly totalled 285,000 tonnes of ore @ 2,800ppm U3O8 and 10,000ppm V2O5 for 1.6 million pounds of U3O8 and 4.5 million pounds of V2O5.
Moving forward, further work will include additional outcrop panel and grab sampling. Okapi has also applied for a permit to drill across the project.
An exploration RC drill program totalling approximately 10,000m, currently within the permitting process, will aim to identify extensions and trend of identified mineralisation and location of fluvial channels preserved in sedimentary rocks.
