Okapi Resources Ltd: Exploration Commences at Rattler Uranium Project
Perth, Australia - Okapi Resources Ltd. (ASX:OKR) (FRA:26O) (OTCMKTS:OKPRF) is pleased to report that it has commenced initial field programs at its high-grade Rattler Uranium Project with Okapi's exploration team on-site this week to conduct an initial review of the historical workings, undertake geological mapping to gather information for future programmes and to undertake rock chip sampling. The Company expects to have rock chip assays by February and also plans to commence drilling in Q1 of 2022, subject to rig availability.The Rattler Project area includes the historic Rattlesnake Open Pit Mine with historic production from the reportedly totalling 285,000 tonnes of ore @ 2,800ppm U3O8 and 1.0% V2O5 for 1.6 million pounds of U3O8 and 4.5 million pounds of V2O5. The Rattler Project is located immediately along strike from the Energy Fuels' owned La Sal Project.
The Rattlesnake deposit is the only outcropping deposit in the immediate area and therefore should respond well to simple surface exploration. All other deposits have been discovered with exploration drilling. Extensional mineralisation has reportedly been discovered immediately down-dip to the north of the Rattlesnake mine via exploration drilling, the data is currently not available to the Company.
Energy Fuels' La Sal Project is fully permitted for mining and operated from 2006 to 2012. In 2014 Energy Fuels reported remaining resources at La Sal totalling 1.3Mt at 1,700ppm U3O8 and 8,880ppm V2O5, for 4.5 million pounds U3O8 and 23.4 million pounds of V2O5.
Prior to 1991 historic production from the La Sal district is estimated at 6.4 million pounds of U3O8 at 3,200ppm U3O8 and 29 million pounds of V2O5 at 1.4%.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/Z7723CF2
About Okapi Resources Ltd:
Okapi Resources Ltd. (ASX:OKR) is a minerals exploration company focused on the discovery and commercialisation of mineral deposits in Australia.
Okapi's primary objective is to discover and develop mineral resources from its current portfolio. The Company has carefully selected projects with historical workings and excellent results. Okapi has a team of professionals with an exemplary record of success and with a particular history in Australia.
Okapi is also pursuing a growth strategy that aims to appraise and secure further exploration and development opportunities within gold and mineral endowed districts.
Source:
Okapi Resources Ltd.
Contact:
Leonard Math Executive Director and Company Secretary Okapi Resources Ltd. T: 08 6117 9338 E: leonard.math@okapiresources.com