Peninsula Energy (ASX:PEN) has entered a binding agreement to acquire the Hauber uranium project in Wyoming. Peninsula will purchase the project from a subsidiary of Aldershot Resources (TSXV:ALZ) via its wholly owned US subsidiary, Strata Energy.

Under the terms of the Agreement Peninsula has acquired 44 mineral claims (1,760 acres) located approximately 15 miles to the north-northeast of the Lance Projects in Wyoming USA. Peninsula is required to make a modest cash payment of US$20,000, will be responsible for all future ongoing costs for maintaining the properties in good standing and for all future exploration and development funding.
Previous project holders have undertaken extensive drilling within the Hauber properties and the surrounding regional area. Data for approximately 5,000 drill holes (both rotary and core) from Hauber and the surrounding region, along with maps, gamma logs and chemical assay information has been received by Peninsula as part of the acquisition.
Whilst the immediate focus for the Company is on completion of construction and commissioning of the Lance Projects, over the coming months Peninsula will conduct a detailed analysis of the acquired data and will develop an exploration and delineation drilling program for future execution.
Given the high historic mining grade and its proximity to the Lance Projects’ Central Processing Plant (CPP), Peninsula has identified Hauber as a strategic regional opportunity that has the potential to be developed as a future satellite operation that could utilise the additional 700,000lb p.a. U3O8 capacity that has been licensed at the Lance CPP.

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