Okapi Resources Limited (ASX: OKR) has continued to consolidate its position at the Maybell Uranium Project in Colorado, USA after acquiring full ownership of 45 new mining claims and one State Mineral lease.
The acquisition greatly improves Okapi’s coverage of a recognised uranium trend at Maybell, which previously produced over 5.3 million pounds (Mlbs) at an average grade of 1,300 ppm U3O8.
Okapi has also secured access to an extensive historical data base which includes exploration and geologic reports and maps, more than 400 electric logs (many of which extend to the lower Browns Park uranium occurrences), and detailed maps and mineralization tabulations. The database also includes design, construction and operational data from Union Carbide’s mining and uranium production operations.
“We are excited by both the consolidation and recent exploration results at the Maybell Uranium Project. Maybell has potential to be a significant project as the uranium renaissance in the United States continues to build,” Managing Director, Andrew Ferrier, said.
“The next steps at Maybell include reviewing and analysing the recently acquired data package ahead of implementing exploration and drilling programs to validate existing mineralization and delineate additional mineralization and evaluate the potential of developing a shallow open pit operation.”
Meanwhile, 21 rock samples taken at Maybell Uranium Project from outcrops of exposed and mineralized Upper Brown’s Park Formation tuffaceous sandstone, have returned five assay values greater than 1,000 ppm U3O8 including up to 45,100ppm (4.51%) U3O8 and 687ppm Molybdenum, a metal reported to occur with uranium mineralization in the district.
Future Okapi Activities
Okapi is presently in the process of developing its databases from historical information and has engaged an engineering firm to commence work in Q1 2023 to undertake a high-level study to identify the significant potential and next steps around the Project moving forward. Okapi anticipates lodging drilling permits in the first half of 2023 and anticipate drilling on the property in 2023.
Maybell Uranium Project – Significant Historical Uranium Producer
Union Carbide operated a series of shallow open pits in the Maybell district along a two km strike for an 11-year period between 1954 and 1964 where records show the mines produced approximately 4.7Mlb U3O8 at an average grade of 1,300ppm U3O8.
Annual production increased sharply in 1958 with the construction of an on- site mill, where between 1958-1964 when the mine closed, the Maybell area produced between 500,000 and 720,000 lbs per year.
When the price of uranium rose sharply in the mid-1970’s, Union Carbide resumed mining operations in 1976 through heap leaching of lower grade material.
A portable ion exchange unit was installed at site and the eluate was trucked to Union Carbide’s mill in Gas Hills, Wyoming. Leaching continued through to 1981, when mining ceased due to falling uranium prices; approximately 0.8Mlb U3O8 was produced over this period.
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