Search

Okapi to Acquire Portfolio of High-Grade Uranium Exploration Assets in the Athabasca Basin, Canada



HIGHLIGHTS

  • Okapi acquires portfolio of high-grade exploration assets in the Athabasca Basin, Canada

  • Athabasca Basin is the world’s premier uranium district and home to the world’s largest and highest-grade uranium mines

  • Okapi is targeting high-grade unconformity-related uranium deposits via the acquisition of six strategically located exploration assets covering more than 55,000 hectares

  • Okapi’s initial focus will be on the Cluff Lake Exploration Project and Newnham Lake Project

CLUFF LAKE EXPLORATION PROJECT

  • Grades of up to 16.9% U3O8 in basement boulder-trains1

  • Advanced exploration project with VTEM, gravity and radon targets identified

  • 3km east of Orano’s past producing Cluff Lake Mine (64.2mlbs @ 0.92% U3O8 produced)2

  • 10km north of Orano-UEX’s Shea Creek deposit (Resources of 96mlbs @ 1.3% U3O8) 2

  • 75km north of NextGen’s Arrow Deposit (Resources of 337.4mlbs @ 1.8% U3O8) 3 and Fission Uranium Corp’s Triple R Deposit (Resources of 135.1mlbs @ 1.8% U3O8) 4

NEWNHAM LAKE PROJECT

  • Grades of up to 1,953ppm U3O8 5 in historic drilling at the unconformity contact, uranium mineralisation detected along a poorly tested 5km trend within a 25km conductive trend extending into outcropping basement rocks

  • Historical exploration undertaken prior to recent understanding of importance of basement-hosted uranium deposits with little drilling below 25 metres depth

  • Shallow depth to unconformity of 100 metres vertically below surface with potential for discovery of basement hosted uranium mineralisation

  • Multiple high-impact walk-up drill targets identified