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Global Uranium and Enrichment Ltd (ASX:GUE) has reported the significant expansion of its Pine Ridge project in Wyoming, through the staking of claims achieved under the company’s joint venture with NASDAQ-listed Snow Lake Resources.
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Pine Ridge – which is an in-situ recovery (ISR) uranium project located in Wyoming’s Powder River Basin – has now grown by around 85%, with 937 claims successfully staked across a territory of approximately 7,045 hectares (ha), or 17,408 acres.
These additional claims are comprised of previously unclaimed Federal mineral parcels, and bring the total area of the project to 15,130 ha (37,387 acres).
Managing director Andrew Ferrier said the expansion provided GUE with a strategic opportunity to make use of the region’s strong geological profile.
“Historical exploration, together with our own modelling of redox fronts, confirms the significant exploration upside,” he said.
“This additional staking is a critical step in unlocking the full value of Pine Ridge and accelerating our broader growth ambitions within the Powder River Basin.
“We’re also pleased to advance this next phase of work in partnership with Snow Lake Energy, whose commitment reflects the strength of our growing portfolio and shared confidence in the Project’s potential.”
GUE shares have moved up since this news, and at 13:01 AEST, they were trading at 5.9 cents – a rise of 3.51% since the market opened.
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