Okapi Resources Limited (ASX:OKR) has entered into a binding agreement to acquire a portfolio of advanced, high grade uranium assets located in the United Statement of America from Tallahassee Resources.
Assets include a strategic position in one of the most prolific uranium districts in the USA – the Tallahassee Creek Uranium District in Colorado. The Tallahassee Uranium Project contains a JORC 2004 Mineral Resource estimate of 26 million pounds of U3O8 at a grade of 540ppm U3O8 with significant exploration upside. The greater Tallahassee Creek Uranium District hosts more than 100 million pounds of U3O8 with considerable opportunity to expand the existing resource base by acquiring additional complementary assets in the District.
The portfolio of assets also include an option to acquire 100% of the high-grade Rattler Uranium Project in Utah. The Rattler Uranium Project includes the historical Rattlesnake open pit mine from which 285,000 tonnes of ore was mined 3 between 1948 and 1954 at grades of 2,800ppm U3O8 and 10,000ppm V2O5 for 1.6 million pounds of U3O8 and 4.5 million pounds of V2O5. The Rattler Uranium Project is located only 85km from the White Mesa Uranium Mill, the only operating conventional uranium mill in the USA hence provides a near-term, low-capital development opportunity.
Okapi is focused on becoming a new leader in North American carbon-free nuclear energy by assembling a portfolio of high quality uranium assets.
For more information, please click here to read the full announcement, “Transformational Acquisition of High Grade Uranium Assets”