Vancouver, Canada – July 12, 2024 (Investorideas.com Newswire) Pegasus Sources Inc. (TSX-V:PEGA) (OTCPK:SLTFF) (Frankfurt:0QS0) (the “Firm” or “Pegasus”) is happy to enter the third quarter of 2024 with important developments in our exploration initiatives, notably with the current acquisition of the Jupiter Challenge and ongoing actions at our established Power Sands venture. As we advance these initiatives, we’re positioned to considerably improve shareholder worth by way of strategic exploration and improvement.
“We’re coming into an thrilling part of exploration with the current acquisition of the Jupiter Challenge and the work accomplished on the Power Sands initiatives,” acknowledged Christian Timmins, CEO, “The strategic integration of those initiatives permits us to leverage in depth historic information and trendy geological methods to maximise our exploration potential. Our devoted staff is concentrated on advancing these initiatives quickly, aiming to boost our understanding of the mineral assets and broaden our operational scope. With our upcoming drill program set to start this summer time, we’re assured in our means to ship substantial worth to our shareholders and reinforce Pegasus Sources’ place as a frontrunner within the uranium sector.”
This information is paid commercial/ information disseminated on behalf of/issued on behalf of Pegasus Sources Inc.
2024 Overview:
The yr commenced with a profitable floor sampling program at Power Sands in Utah in January 2024. The numerous outcomes, introduced on March 25, 2024, indicated a beneficial surroundings for uranium mineralization. Following this, we added to our geological understanding by buying historic drilling information of the world, which additional outlined the world’s potential. As detailed in our June 04, 2024 information launch, evaluation carried out by Dahrouge Geological Consulting USA Ltd. recognized a development indicative of paleochannel-hosted mineralization. This important discovery, aligning with structural measurements and the recognized mineralization traits, aids in concentrating on potential mineral-hosting paleochannels throughout the property. Now we have initiated the allowing course of and have submitted all crucial paperwork to launch a summer time drilling program.
Including to our portfolio, the current acquisition of the Jupiter Challenge (July 10, 2024), positioned 3 km north of Power Sands, marks a pivotal growth. Jupiter, boasting over 100 historic drill holes, is an thrilling venture that uniquely positions Pegasus to expedite the event of a uranium useful resource estimate. This strategic proximity to Power Sands and Jupiter supplies a major alternative for us to make use of the accessible historic drill logs and future firm drilling applications to raised perceive the uranium mineralization within the space whereas trying to discover the following discovery. The strategic significance of this acquisition is immense, and we’re poised to start work at Jupiter as soon as we’ve got secured the required permits and funding, and accomplished the tendering course of to accumulate the required gear and crews for a summer time drilling program, with expectations set on quickly advancing our exploration and useful resource improvement targets at Jupiter.
Exploration Replace:
As we progress by way of 2024, Pegasus Sources is actively advancing our exploration initiatives at each the Jupiter Challenge and Power Sands, leveraging historic information and up to date geological research to information useful resource improvement.
Jupiter Challenge: Our exploration strategy on the Jupiter Challenge is complete, involving the twinning of historic drill holes, detailed logging of outdated drill holes, and the identification of latest drill targets. These efforts are essential not just for increasing the identified useful resource base but in addition for locating new mineralization zones. We’re growing a strong geological mannequin for the Jupiter Challenge that can considerably improve our useful resource improvement plans. Using in depth historic drilling information, our purpose is to refine our exploration methods and produce a useful resource estimate that meets the present CIM Definition Requirements on Mineral Sources and Mineral Reserves. The wealth of historic information accessible underscores the appreciable potential for uranium mineralization, laying a robust basis for our ongoing exploration efforts.
Power Sands: Following a profitable floor program in January 2024, which concerned an in depth evaluate of historic drill logs, we’ve got moved ahead with securing the required drilling permits for the Power Sands venture. As soon as permits are in place, our subsequent steps embody initiating the tendering course of to supply the important gear and expert crews required for a complete summer time drilling program. This upcoming program is designed to construct upon the insights gained from current mapping carried out by Dahrouge Geological Consulting USA Ltd. Our focus will likely be on concentrating on and additional investigating potential mineral-hosting paleochannels which were recognized throughout the property, aiming to delineate and broaden these mineralized zones.
Built-in Exploration Technique: By synchronizing our exploration methods at each Jupiter and Power Sands, Pegasus Sources is successfully harnessing synergies between the 2 initiatives. This built-in strategy not solely streamlines our operational efforts but in addition enhances our means to shortly adapt and reply to geological findings as they emerge. The proximity of Jupiter to Power Sands gives distinctive alternatives for operational efficiencies and useful resource sharing, making certain that our exploration applications are each cost-effective and strategically aligned.
These mixed efforts at Jupiter and Power Sands underscore our dedication to advancing these initiatives towards their full potential, with the goal of considerably enhancing shareholder worth by way of the invention and improvement of helpful uranium assets. As we proceed to progress with our drilling and exploration applications, Pegasus Sources stays devoted to upholding the very best requirements of useful resource estimation and sustainable mining practices.
Pine Channel: Situated on the north aspect of the Athabasca Basin, Pine Channel is slated for a gravity survey this summer time. This survey will improve our understanding of the property and refine targets for future drilling operations. The gravity survey will play an important position in our strategic exploration efforts.
The corporate additionally pronounces an settlement with Fairfax Companions Inc. dated July ninth, which is able to present social media advertising and marketing communication help for a two-month interval for a payment of C$75,000 plus items and companies tax, then C$10,000 plus items and repair tax for the next 6 months. The companies embody content material improvement, social media marketing campaign and analytics. The entire time period of the Fairfax settlement is for a interval of 8 months ending March ninth, 2025. Fairfax and its principals are arm’s size to the corporate.
As we proceed to advance our strategic initiatives, Pegasus Sources is uniquely positioned within the uranium sector to capitalize on each established and rising alternatives. Our current agreements and exploration developments underscore our dedication to main the business in discovery and useful resource improvement. For extra info and common updates, traders are inspired to go to our web site or contact our investor relations staff.
NI 43-101 Disclosure
The technical content material of this information launch has been reviewed and accepted by Jacob Anderson, CPG, MAusIMM, who’s a Useful resource Geologist for Dahrouge Geological Consulting USA Ltd., and a Certified Individual beneath Nationwide Instrument 43-101, who has ready and/or reviewed the content material of this press launch.
About Pegasus Sources Inc.
Pegasus Sources Inc. is a diversified Junior Canadian Mineral Exploration Firm with a concentrate on uranium, gold, and base steel properties in North America. The Firm can also be actively pursuing the precise alternative in different assets to boost shareholder worth. For extra info, please go to the Firm at www.pegasusresourcesinc.com.
On Behalf of the Board of Administrators:
Christian Timmins
President, CEO and Director
Pegasus Sources Inc.
700 – 838 West Hastings Road
Vancouver, BC V6C 0A6
PH: 1-403-597-3410
X: https://twitter.com/pegasusresinc
E: data@pegasusresourcesinc.com
Neither the TSX Enterprise Alternate nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) settle for accountability for the adequacy or accuracy of this launch.
Ahead Wanting 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 meant 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 might trigger precise outcomes to vary materially from these indicated within the forward-looking statements.
SOURCE: Pegasus Sources Inc.
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