Latest news with #ShirleyBasin
Globe and Mail
3 days ago
- Business
- Globe and Mail
Noble Plains Uranium Secures Strategic Ground in Heart of Shirley Basin Uranium District
Vancouver, British Columbia--(Newsfile Corp. - June 3, 2025) - Noble Plains Uranium Corp. (TSXV: NOBL) (OTCQB: IXIXF) (FSE: INE) (" Noble Plains" or the " Company") is pleased to announce that it has secured an option to acquire a 100% interest in 30 highly strategic mineral claims collectively called the Shirley Central Property in the prolific Shirley Basin of Wyoming, a historically productive and infrastructure rich uranium district in the United States. Several of the Shirley Central Property claims lie directly within Ur-Energy Inc.'s Shirley Basin permit boundary, while others are surrounded by Uranium Energy Corp's (UEC) land package-placing Noble Plains in the middle of a rapidly developing uranium hub. Ur-Energy Inc.'s Shirley Basin Project currently hosts a National Instrument 43-101 compliant Measured (1,367,000 short tons) and Indicated (549,000 short tons) Resource of 8.816 million pounds U₃O₈ at 0.23% 1 and is under active construction 2. "This acquisition is a clear reflection of our strategy-targeting sound geological projects in premier U.S. uranium jurisdictions," stated Drew Zimmerman, President of Noble Plains. "We're focused on acquiring brownfield assets with proven potential and strong ISR amenability, and this new land package in the Shirley Basin is a prime example." To view an enhanced version of this graphic, please visit: The Company has obtained, digitized, and interpreted historical aerial photos and records to reveal at least five distinct areas of dense, systematic drilling within the Shirley Central Property as conducted by past operators, such as Kerr-McGee (see Figure 1). These were drilled between former producing open-pit mines, targeting uranium mineralization with denser grid spacing (25m by 25m) designed to delineate higher-grade zones. Historic exploration density strongly suggests high-confidence targets for future ISR resource delineation. Noble Plains plans to fast-track permitting to begin drilling on these "bullseye" targets by late summer 2025. "The Shirley Basin is very well-understood geologically and in a historically productive uranium district in the United States," said Paul Cowley, CEO of Noble Plains. "This land package sits between past-producing open pits and has dense historical drilling with clear signs of mineralization that make it an exceptional geological opportunity with five "bullseye" targets already identified for drill testing." The Shirley Central Property adds to the Company's Shirley East Property (aka Hot Property), expanding Noble Plains' Shirley Basin footprint to a total of 101 unpatented mineral claims covering 8.44 km² (3.26 mi²), consolidating the Company's position in a premier U.S. uranium district (see Figure 2). To view an enhanced version of this graphic, please visit: Shirley Basin Wyoming is the top uranium-producing state in the U.S. and hosts the country's largest ore reserves. The Shirley Basin alone produced over 52 million pounds of U₃O₈ between 1960 and 1992 at an average grade of 0.22% U₃O₈ -over three times the current U.S. average. With ISR now the dominant method of uranium production in Wyoming, these newly optioned claims are especially compelling. ISR offers lower capital and operating costs, minimal surface disturbance, and no tailings-aligning with Noble Plains' commitment to environmentally responsible development. 1 Updated Initial Assessment Technical Report Summary on Shirley Basin ISR Uranium Project, Carbon County Wyoming, USA dated March 4, 2024 and prepared by Western Water Consultants, Inc. 2 Ur-Energy Announces Decision to Build Out Shirley Basin Mine: Press Release dated March 13, 2024 Terms of Transaction The Company has signed a property option agreement (the " Agreement") effective June 1, 2025, with a private vendor pursuant to which the Company can acquire a 100% interest in the Shirley Central Property. Pursuant to the Agreement, the Company will pay US$50,000 annually to the vendor. Between the third anniversary of the effective date of the Agreement and a construction decision, the Company can exercise the option to own a 100% interest in the Shirley Central Property subject to a 3% gross value royalty. At that time, annual option payments of US$50,000 convert to an annual US$50,000 milestone payment. The Shirley Central Property option transaction is considered an Exempt Transaction, as such term is defined in the policies of the Exchange and, thus, does not require Exchange approval. On Behalf of the Board of Directors, "Paul Cowley", CEO Bradley Parkes, VP Exploration and Director of Noble Plains Uranium Corp., is the Qualified Person as defined in National Instrument 43-101, who has read and approved the technical content of this news release. This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law. Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Yahoo
27-05-2025
- Business
- Yahoo
Strathmore Expands Agate Project
Kelowna, British Columbia--(Newsfile Corp. - May 27, 2025) - Strathmore Plus Uranium Corporation (TSXV: SUU) (OTCQB: SUUFF) ("Strathmore" or "the Company") is pleased to announce the expansion of the Agate Project by staking an additional 15 lode mining claims, increasing the project to 100 claims for ~2,067 acres. The newly claimed area has noted historical drilling completed by Kerr McGee in the 1970s that encountered shallow uranium mineralization at less than 200 feet deep. Strathmore will continue to expand the area of mineralization after last years successful drilling program. Agate is in the Shirley Basin Uranium District, one of the most prolific uranium districts in the U.S. where 53 million pounds of uranium has been mined by open pit, underground and in-situ recovery. UR Energy's Shirley Basin project is located 6 miles to the northeast of Agate, where they are actively building an in-situ operation as a satellite to their Lost Creek mine 100 miles west in central Wyoming. In 2024, Strathmore identified a new zone of shallow mineralization located one mile south of the northern trend, within the overlying middle sand unit. Notable drill results include hole AG-143-24, which intersected 14 feet of 0.046% eU₃O₈ (from 30.5 to 44.5 feet), and hole AG-147-24, with 15.5 feet of 0.051% eU₃O₈ (from 29 to 44.5 feet). This newly discovered trend remains open to both the north and south and is scheduled for further exploration in the 2025 season and is expected to significantly expand the resource. Strathmore has completed 200 exploration holes (including 5 monitor wells) on the Agate project, with over 90% of the holes hitting mineralization. The 2023-24 exploration defined approximately 3,700 feet of a mineralized trend in the lower sand unit, with notable intercepts in two holes, AG-10-23 (16.0 feet @ 0.081% eU3O8 from 82.0-98.0 feet) and AG-16-23 (21.0 feet @ 0.089% eU3O8 from 79.0-100.0 feet). This northern trend is open to the west and east, where further exploration in 2025 intends to expand into these untested areas. Strathmore Director John DeJoia commented "I have personally mined and been responsible for mining approximately 20 million pounds of uranium in Shirley Basin (now UR Energy's property). I mined by open pit, underground methods, and the first commercial ISR operation in the U.S. With 9 out of every 10 exploration drill holes we completed intercepting mineralization at Agate, I have re-evaluated my conventional thinking regarding economics. Conventional wisdom has always professed that "Grade is King" however, the uranium mineralization at Agate is thick and therefore yields substantial grade-thickness (GT) products, and it is at a shallow depth of a little over a hundred feet! Grade is important but the economics at Agate are outstanding. I'm excited to be starting our 2025 drilling program and continuing to grow this project for a future ISR mine". 2025 Exploration Plan Strathmore is pleased to announce the 2025 Exploration Plan for the Agate Project, to expand the area of mineralization after last years very successful drilling program. Currently up to 100 drill sites are permitted, with the intent to explore with two drill programs. This summer five core holes are planned to compliment groundwater studies from closely located monitor wells previously installed in 2024. The core will be used for chemical equilibrium studies by the Company and the University of Wyoming for their ongoing geophysical research at the project. Planned exploration drilling intends to link together discrete deposits encountered in the lower sand in 2023-24 and expand upon the 2024 discovery of mineralization in the shallow middle sand. The intent of the exploration is to expand the mineralization on the property into a multi-zone deposit, with the potential of stacked roll fronts, and to gather the necessary information to complete a mineral resource estimate and technical report on the project during winter 2025. University of Wyoming Research Project Strathmore is also pleased to report on the University of Wyoming's (UW) ongoing geophysical study at the Agate project. The research by Dr. Bradley Carr, Director of UW's Near-surface Geophysical Center, consists of ground and borehole geophysics applied across the project to detect and image a uranium roll front and possibly monitor the movement of the roll front's position during future in-situ mining development. In this research, the borehole and surface geophysical methods utilized include Seismic Reflection, Seismic Refraction, Direct Current Resistivity, Induced Polarization, Electromagnetics, Self-Potential, and Nuclear Magnetic Resonance. Strathmore looks forward to working with Dr. Carr to provide potential targets for the 2025 exploration season, including the new 1- mile step out discovery, based on their current geophysical studies and those completed in 2023-24. In early 2023, Dr. Carr received a grant from the University's School of Energy Resources for US$200,000 to complete the research. Recently Dr. Carr was awarded additional funding for US$120,000 which in part will be used to advance the geophysical research at Agate, and for a study of deeper uranium mineralization at the Company's Beaver Rim project during summer 2025. Lastly, Strathmore has donated US$20,000 to the University to help finalize the purchase of XRF analysis capabilities on core samples for the Department of Geology and Geophysics' GeoTEK analysis equipment. About the Agate Property The Agate property consists of 85 wholly owned lode mining claims covering 1,756 acres. Uranium mineralization on the project is contained in classic Wyoming-type roll fronts within the Eocene Wind River Formation, an arkosic-rich sandstone. Historically, 53 million pounds of uranium were mined in Shirley Basin, including from open-pit, underground, and the first commercial in-situ recovery operation in the USA during the 1960s. At the property, the uranium mineralization is shallow, from 20 to approximately 150 feet deep, much of which appears below the water table and likely amenable to in-situ recovery. Kerr McGee Corporation, the largest US uranium mining company at the time, drilled at least 650 holes across the project area in the 1970s, delineating several targets of potential mineralization. In 2023 and 2024, the Company completed 200 exploration holes on the Project, discovering several areas of potential mineralization. About Strathmore Plus Uranium Strathmore is focused on discovering uranium deposits in Wyoming, and has three permitted uranium projects including Agate, Beaver Rim, and Night Owl. The Agate and Beaver Rim properties contain uranium in typical Wyoming-type roll front deposits based on historical drilling data. The Night Owl property is a former producing surface mine that was in production in the early 1960s. Cautionary Statement: "Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release". Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Strathmore Plus Uranium Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at The forward-looking statements included in this press release are made as of the date of this press release and Strathmore Plus Uranium Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Qualified Person The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Terrence Osier, Vice President, Exploration of Strathmore Plus Uranium Corp., a Qualified Person. Strathmore Plus Uranium Corp. Contact Information:Investor RelationsTelephone: 1 888 882 8177 Email: info@ ON BEHALF OF THE BOARD"Dev Randhawa"Dev Randhawa, CEO To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
