Pegasus Resources Outlines Uranium Exploration Plans

About this update from Pegasus Resources Inc

[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 02, 2021 (GLOBE NEWSWIRE) -- Pegasus Resources Inc. (TSX-V: PEGA: Frankfurt – OQS2, OTC/Pink Sheet symbol: SLTFF) (the “Company” or “Pegasus”) is pleased to announce exploration plans for its recently acquired uranium projects located in the Athabasca Basin region of northern Saskatchewan. Cumulatively, the uranium land package encompasses approximately 60,054 ha over 19 mineral claims and includes the Pine Channel, Mozzie Lake, Wollaston Northeast, and Bentley Lake properties (Figure 1). Charles Desjardins, President of Pegasus Resources, states, \"We are excited to have built this prospective uranium portfolio at such a key time in the market and look forward to advancing exploration and unlocking value for our shareholders.” Summary of exploration plans: Pine Channel Property Radon soil gas survey, to detect possible uranium mineralization at depth. Ground gravity survey, to detect possible alteration zone related to uranium mineralization at depth. These targeting methods, in combination with the historical geophysics, will bring the project to a drill-ready stage. Mozzie Lake, Wollaston Northeast, and Bentley Lake properties Data compilation of the historical exploration. The compilation will allow for a methodical exploration approach in the spring. The following includes a summary of each property. Pine Channel Uranium Property: The property is prospective for unconformity-related uranium mineralization, with a relatively shallow depth to the basement from surface of about 60 to 100 metres.Historical work identified two conductive trends on the Property. One trend is approximately 2.5 km long, defined by both airborne and ground electromagnetic (EM) surveys. The second, a 600-metre long conductor, has not yet been followed up with a ground EM survey(s) or drilling. Drilling in 1981 identified anomalous uranium in a hematite-rich fracture, within Athabasca sandstone rocks, directly above unconformity in hole PC81-2 with 0.15% U3O8 over 0.15m. The property is overlain by a thin cover of Athabasca Basin and is underlain at shallow depths by the structurally complex Tanto Domain, which is host to numerous U, Cu, Ni, and Au occurrences. Wollaston Northeast Uranium Property The Wollaston Northeast Property is situated outside the northeastern edge of the Athabasca Basin, about 45 km northeast ...

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