Demand for uranium is increasing, given its use cases for nuclear power and electricity. And this junior miner just successfully staked new land with intrinsic geological value and a strategic location. Pegasus Resources Inc. (TSXV:PEGA) (OTC PINK:SLTFF) announced in a press release today a significant milestone in its strategic plans to discover uranium, successfully staking new land in Utah adjacent to its 100% owned Energy Sands property. This has bolstered the firm’s portfolio with the addition of 48 new lode claims and increased the footprint of its Energy Sands property by 160 percent.
Following the mapping and sampling phase, the firm plans to submit applications for drilling permits, a crucial step in advancing the exploration process, with an aim to make the Energy Sands property drill-ready by the second quarter of the upcoming year. U.S. shares were flat in morning trade, while Canadian shares were up.
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