Business:Investing
Pegasus Resources takes Flight with new Assay Results; Interview with Chris Timmins
2024-04-02
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In this episode, host Cali Van Zant talks to Chris Timmins about the latest assay results from their Energy Sands project (Full company press release here) and some of the permit and drilling programs coming up this summer. Chris talks about his role since becoming CEO in 2023, new board additions to the team, the Pine Channel Project and what he is looking forward to most in the uranium sector.When speaking about their latest results and the Energy Sands project, Chris states, "We did a program in January on our Energy Sands project in Utah. We had some really good preliminary results. We sent the guys out, and they went around and collected a bunch of samples and we had some really extraordinary results. We were expecting something around 2% but we actually came back with an 18.87% result; very encouraging.""We're going to take the next step, and that's going to be to apply for the permitting, and get the ball rolling on this project into drill ready status, and hopefully drill it this summer....Our big neighbor is Western Uranium Vanadium, just up the road by a mile or two from us. That's why we staked this land in the first place; it's that it was open, and it is a long trend. Western Uranium's has 4 to 5 million lbs. of uranium sitting up on their property just to the northeast of us. We saw the potential here to follow along trend."When asked about surviving the challenges of 2023 as a junior exploration company and what Chris is looking forward to in 2024, he said, "As far as what we're looking forward to; I am looking forward to drilling Energy Sands. I think there's a resource here and if you can take a company with an under a $4 million market cap and start drilling a resource for uranium, I think that'll be a real eye opener for people.""For 2025 we'll be in Pine Channel and we think there's something there too. So we've got a few things on the go. Thankfully, we can work the Energy Sands project through the summer and our Pine Channel one in the winter. That spreads out our attention a little and gives us a little more bandwidth here to deal with each thing when it comes up.""As far as uranium in general, I think it only gets better from here. The demand just keeps going up and the supply just keeps lagging. So I think it's an exciting place to be. And I think we see uranium prices continue to go up through the next few years, and I don't think we see this demand supply problem fixed till at least into the 2030's."Full company press release https://www.pegasusresourcesinc.com/latestAbout Pegasus Resources IncPegasus Resources Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on uranium, gold, and base metal properties in North America. The Company is also actively pursuing the right opportunity in other resources to enhance shareholder value. For additional information, please visit the Company at www.pegasusresourcesinc.comAbout the Energy Sands ProjectThe Energy Sands project consists of 100% owned 78 lode claims covering 1,560 acres in the San Rafael Uranium District of Utah approximately 4 kilometres from the San Rafael Uranium Project of Western Uranium and Vanadium.Utah is ranked among the top 5 most favorable jurisdictions in the United States and is home to two built uranium mills and a third soon to be built by Western Uranium and Vanadium, which gives the companies operating in the area an exceptional advantage for future ore processing for conventional mining projects.
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- Historical small-scale production, between 1953 and 1956, totaling 103,600 Pounds at a grade of 0.373% U3O8 and 1.10% V2O5.
- 4 Corners Mines road runs through the property and connects to Interstate 70 (less 2km away), a mainline route of the Interstate Highway System in the United States connecting Utah and Maryland.
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