- Okapi Resources (OKR) acquires the historical Sunnyside Uranium Mine in Utah, increasing its total landholding in the US state by 90 per cent
- ORK has staked claims over 388.5 hectares next to its Rattler Uranium Project, which is contiguous with Energy Fuels’ La Sal Project, to acquire the mine
- Historical uranium production at Sunnyside reportedly graded up to 1500 parts per million tri-uranium oct-oxide and 1.5 per cent vanadium oxide
- Okapi says plans for maiden exploration programs at both Rattler and its latest uranium acquisition are well advanced
- Shares are down 4.11 per cent at 70 cents each at 2:37 pm AEST
Okapi Resources (OKR) has acquired the historical Sunnyside Uranium Mine in Utah, increasing its total landholding in the US state by 90 per cent.
The company staked claims covering 388.5 hectares adjacent to its existing Rattler Uranium Project to acquire the mine area.
Sunnyside comprises several small past-producing pits and adits where uranium was mined in the early 1900s at grades of up to 1500 parts per million (ppm) tri-uranium oct-oxide and 1.5 per cent vanadium oxide.
Accordingly, OKR said the takeover would complement Rattler, which is contiguous with Energy Fuels’ La Sal Project.
La Sal is fully permitted for mining and was operated from 2006 to 2012.
In 2014 Energy Fuels reported remaining resources at the site totalling 1.3 million tonnes at 1700ppm tri-uranium oct-oxide and 8880ppm vanadium oxide for 4.5 million pounds tri-uranium oct-oxide and 23.4 million pounds of vanadium oxide.
Commenting on the acquisition, OKR’s executive director David Nour said the move demonstrated his team’s deep in-country knowledge and expertise.
“This represents yet another highly value-accretive acquisition for Okapi shareholders,” he said.
“The team remains focused on executing its strategy as it becomes a new leader in North American carbon-free nuclear energy.”
Looking ahead, Okapi is advancing plans for maiden high-impact exploration programs at both Rattler and Sunnyside as it continues to assess further uranium acquisition opportunities throughout North America.
Despite the news, shares are down 4.11 per cent at 70 cents each at 2:37 pm AEST.