Peninsula Energy significantly expands US uranium portfolio
October 26, 2023 at 05:16 pm EDT
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Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF) CEO Wayne Heili tells Proactive the company has expanded its US uranium portfolio with the newly established Dagger Project, just 20 kilometres northeast of its advanced-stage Lance Project in Wyoming. With an initial inferred mineral resource estimate of 6.9 million pounds of uranium at an average grade of 1,037 parts per million, the Dagger Project presents a compelling addition to Peninsula's portfolio. The Dagger Project sits on an expansive 4,140 acres, contiguous with a historically successful uranium mining site.
Heili said: “We are very excited to complete this successful long-term acquisition initiative, which has resulted in the establishment of the Dagger Project which boasts an initial JORC inferred U3O8 mineral resource estimate of 6.9 million pounds U3O8.
Importantly, Dagger is located only 20 kilometres from our Lance Project facilities, which provides the company with an exciting opportunity to further increase the size and scale of our already sizeable mineral resource inventory.
“Buoyed by the robust uranium market that provides a supportive environment for re-emerging producers and project developers, we have utilized our in-house knowledge and expertise to expand our project pipeline."
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
Jonathan@proactiveinvestors.com
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Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases
Peninsula Energy Limited is an Australia-based uranium mining company. The Company operates through three segments: Lance Projects, Wyoming USA; Karoo Projects, South Africa; and Corporate/Other. The Company owns the Lance Uranium Projects in Wyoming, United States. The Lance Projects is the United States-based uranium project authorized to use the industry low pH in-situ recovery process. Lance holds a defined JORC (2012) Compliant uranium mineral resource of 53.6 million pounds U3O8. The JORC-compliant Resource Estimate for the Lance Projects is 53.6Mlbs, calculated by applying a combined constraint of a GT of 0.2 contour and 200ppm eU3O8.
PENINSULA ENERGY LIMITED 
