Welcome to our dedicated page for Pegasus Resources news (Ticker: SLTFF), a resource for investors and traders seeking the latest updates and insights on Pegasus Resources stock.
Pegasus Resources Inc. (OTC: SLTFF; TSXV: PEGA) is frequently featured in news releases as a Canadian uranium exploration company advancing projects in the United States. Coverage of Pegasus centers on its high-potential uranium portfolio in Utah, led by the Jupiter Uranium Project, which the company describes as drill-ready and permitted, and the adjoining Energy Sands project. News items often highlight how these assets fit into Pegasus’ stated goal of supporting domestic uranium supply.
Investors following SLTFF news will see regular updates on project milestones, such as Pegasus securing a 75% ownership interest in the Jupiter Uranium Project, earning terms toward full ownership upon drilling, and technical context around historic uranium and vanadium mineralization on its Utah properties. Releases also discuss strategic portfolio moves, including the sale of the Icefield Property in British Columbia to Ashley Gold Corp., where Pegasus received Ashley shares and governance and participation rights while Ashley assumed royalty obligations.
Corporate and capital markets developments are another key theme in Pegasus news. The company reports non-brokered private placements of units with share and warrant components, use of proceeds for project payments and working capital, and a proposed shares-for-debt settlement that was later withdrawn following guidance from the TSX Venture Exchange. Governance updates, such as director appointments, resignations and stock option grants, are also disclosed.
More recently, Pegasus and Urano Energy Corp. announced a binding letter agreement for a proposed business combination under which Urano would acquire all Pegasus securities, consolidating Urano’s I-70 project with Pegasus’ Energy Sands and Jupiter projects. This transaction remains subject to negotiation of a definitive agreement, regulatory and stock exchange approvals, shareholder approvals where required, due diligence and other customary conditions. For investors and observers, the Pegasus news feed provides an ongoing record of exploration progress, asset transactions, financings and potential corporate restructuring. Bookmarking this page can help track how these developments evolve over time.
Pegasus Resources Inc. (TSXV: PEGA) (OTC: SLTFF) has provided an update on its uranium exploration projects, focusing on the Jupiter Project and Energy Sands in Utah. The company is preparing for a summer drilling program at Energy Sands, following successful ground sampling and historical data analysis. The recently acquired Jupiter Project, with over 100 historical drill holes, offers potential for rapid uranium resource development.
Pegasus is also advancing its Pine Channel project in the Athabasca Basin with a planned gravity survey. The company's integrated exploration strategy aims to leverage synergies between projects and enhance shareholder value. This update comes amid a positive outlook for the uranium sector, with the World Nuclear Association projecting a 28% increase in uranium demand over 2023-30.
Pegasus Resources has announced notable advancements, including the acquisition of the Jupiter Project on July 10, 2024, positioned 3 km north of Energy Sands. The Jupiter project features over 100 historical drill holes, setting the stage for rapid uranium resource development. The company has also achieved significant progress at its Energy Sands project, marked by a successful ground sampling program in January 2024.
Analysis by Dahrouge Geological Consulting USA revealed promising trends indicative of paleochannel-hosted mineralization. The company has initiated the permitting process for a summer drilling program across both projects.
Strategically, Pegasus is integrating exploration efforts at Jupiter and Energy Sands to enhance operational efficiencies and resource development. Additionally, a gravity survey at Pine Channel is scheduled for this summer to refine future drilling targets.
The company has also entered into an agreement with Fairfax Partners Inc. for social media marketing support, emphasizing Pegasus' focus on investor engagement and transparency.
Pegasus Resources has secured exclusive rights to the Jupiter Uranium Project in Emery County, Utah. The acquisition involves a 100% interest in the Jupiter Project, consisting of 48 unpatented claims.
Previously explored by Atlas Minerals, the project features over 100 drill holes indicating substantial uranium potential. Pegasus plans to use historical data to guide new exploration initiatives, including twinning old drill holes and defining new targets to create a resource estimate.
The agreement includes issuing 2.2 million shares and making cash payments totaling $100,000. Pegasus will also conduct a 1500-meter drilling program within a year. The vendor retains a Net Smelter Return Royalty and will receive bonuses for additional uranium discoveries. The acquisition complements Pegasus’s existing Energy Sands Project, offering investors opportunities in both resource development and potential new discoveries.
On June 18, 2024, Pegasus Resources announced that all resolutions were passed at their Annual General Meeting. Shareholders elected Christian Timmins, Dave Bissoondatt, Noah Komavli, and Derrick Strickland as directors for the upcoming year. The number of directors remains four. Crowe MacKay LLP will continue as the auditor for the ensuing year, with remuneration set by the directors. Additionally, the company's 10% rolling stock option plan received shareholder approval.
Pegasus Resources has retained Dahrouge Geological Consulting to develop a preliminary geological model for its Energy Sands project in Utah, based on detailed geological mapping and sampling completed in Q1 2024. The gathered data, combined with the 2015 Utah Geological Survey map, was used to define drill targets and support the submission of a Notice of Intent to the BLM. Historical drilling data from 1975 was also incorporated, providing valuable insights into the property's uranium and vanadium mineralization. Field samples previously returned values of 3.55% U3O8 and 5.34% V2O5. This model will guide future drilling campaigns.
Pegasus Resources announced the grant of stock options to directors, consultants, and officers. A total of 575,000 common shares can be purchased at C$0.19 per share. These options expire in three years. The issuance is part of Pegasus's stock option plan and complies with TSX Venture Exchange requirements.
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