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