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Phase 1 Uranium Exploration Programme Updates
Phase 1 Uranium Exploration Programme Updates.
About this update from Metals One Plc
[{"type":"text","content":"\n\n4 June 2025\n \nMetals One Plc\n(\"Metals One\" or the \"Company\")\n \nUpdates from Phase 1 Uranium Exploration Programme, USA\n \nFirst stage of fieldwork at Uravan Uranium-Vanadium Project, Colorado\n \nFurther to the 22 May 2025 announcement of the initiation of Phase 1 uranium exploration in the USA, Metals One (AIM: MET1), a minerals exploration and development company, is pleased to provide updates from the Uravan Uranium-Vanadium Project in Colorado (\"Uravan\").\n \nAs previously announced, the Company has agreed to begin exploration work in anticipation of completion of the acquisition of Uravan, including award of the 10-year exploration leases, and will make a further announcement at that point. Completion of the acquisition remains subject to various conditions as outlined in the 24 April 2025 announcement.\n \nThe first stage of field activity, which is being led by a contract geologist, followed the collection of digital data that is available online for the property and surrounding area within a one-mile radius, including visiting the US Geological Survey Library in Colorado. The Morrison Formation hosts the uranium and vanadium in the Uravan area. The geologist has started with mapping the basal layer of the Salt Wash Member of the Morrison Formation. The mapping will include faults, joint-sets, historic drill holes, adits, pits, prospects and roads. There is a potential for an additional deposit of uranium in the Chinle Formation which is located approximately 1,200 feet below the Morrison Formation. Historical data collected from the USGS Library may indicate such a deposit at depth. The Chinle formation is famous for holding some of the largest uranium deposits in the Colorado Plateau.\n \nA geophysical survey was initiated with a set line and interval spacing using a radiation solution spectral scintillometer. Grab samples were then collected based on the mineralogy and scintillometer readings and are expected in due course to be sent for analysis with American Assay located in Nevada.\n \nAdditional work on a regional survey for potential expansion of the current claim block would include extending geophysical lines, onsite exploration for potential ground, and research outside of the current claim block.\n \nUravan consists of 59 claims (~490 ha) near the hi...