The Conversation (0)
Okapi Resources Limited (ASX: OKR) (Okapi or the Company) is pleased to announce that its wholly owned subsidiary Okapi Resources Canada Ltd. has received from the Ministry of Environment, Government of Saskatchewan (GoS), a Crown Resource Land Work Authorization, an Aquatic Habitat Protection Permit, a Temporary Work Camp Permit, and Forest Product Permit; together these permits will allow Okapi to drill up to 10,000m in 24 drill holes as well as conduct ground based geophysical surveys of up to 100 line kilometers. The permit is valid through to October 2023.
Key Points
- Okapi Resources receives permits to drill at its Middle Lake Uranium Project
- Extensive historically data at Middle Lake, including high grade surface samples, drilling data and geophysics indicate strong potential for economic mineralisation
- Diamond core drilling program is being planned in the North America winter (Q1 2023)
- Permits allows for up to 10,000m of drilling in 24 drill holes
Okapi’s Managing Director, Mr Andrew Ferrier said:
“This is an important milestone for Okapi, as the Company continues to progress and advance its uranium projects in North America. Obtaining a permit to drill at our 80% owned Middle Lake Project in the Athabasca Basin, the world’s premier uranium district, provides the opportunity for the company to start exploration work on our highly prospective exploration properties located only 4km from the past producing Cluff Lake Mine which produced approximately 64 million pounds of uranium.
The proposed exploration program will focus on prioritising drill targets by reinterpreting the historic geochemistry, geophysics and drill data, combined with satellite imaging (currently underway) which will provide a structural framework. The highest priority drill targets will then be followed by a potential diamond core drilling program, that is likely to be conducted in the North America winter of Q1 2023.
Proposed Exploration Program
The Middle Lake Uranium Project has had a long history of exploration work completed with the last drill program occurring in the winter of 2015 comprising 17 shallow drill holes for a total of 1,851 meters of drilling. The drilling revealed areas of anomalous radioactivity and uranium concentrations associated with graphitic schist and mylonite; the exploration is consistent of that for unconformity style uranium deposits in areas adjacent to the contact between the underlying Archean Basement and Athabasca Group rocks.
Okapi’s immediate aim is to take the historic data and reinterpret and remodel the historic surface and drill data, geochemistry and geophysics to provide targets for drill testing. This will be combined with new remote sensing image interpretation currently underway that, when integrated with the historic, existing geophysical survey results, will provide a structural framework that can be incorporated into the geologic modelling. The application of multi-spectral satellite imaging to exploration at Middle Lake, and the enhanced software capacity now available, can readily detect areas of alteration associated with Uranium mineralisation.
The targets generated from the geologic model will then be followed by a potential diamond core drilling program that is likely to be conducted in the North America winter of Q1 2023. The drill permits will allow Okapi to drill up to 10,000m in 24 drill holes.
Click here for the full ASX Release
This article includes content from Okapi Resources Limited , licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
OKR:AU
North Shore Uranium: Unlocking Value Across Two World-class Uranium Districts in North America
North Shore Uranium (TSXV:NSU) is a uranium exploration company focused on North America, advancing a dual-track strategy aimed at high-impact discoveries in two of the world’s most prolific uranium regions: the eastern Athabasca Basin in Saskatchewan, Canada, and the Grants Uranium District in New Mexico, USA. With a lean capital structure, fully permitted drill targets in Saskatchewan, and strong insider ownership, the company is well-positioned to create value through cost-effective exploration and resource definition in a rising uranium price environment.
The Rio Puerco project, located in New Mexico’s Grants District—a historically productive uranium belt responsible for over 340 million pounds of past U₃O₈ production—offers strong potential. Drawing on data from approximately 800 historical drill holes, a JORC-compliant inferred resource estimate of 11.4 million pounds U₃O₈ was completed in 2009. Early assessments suggest potential for in-situ recovery (ISR) mining, one of the lowest-cost extraction methods in the industry.
North-Shore-Uranium-Athabasca-Basin-ProjectsAt the Falcon project in the Athabasca Basin, North Shore’s maiden 2024 drill program confirmed near-surface uranium mineralization in previously untested zones, underscoring the project’s discovery potential. The company has outlined a 7-kilometre conductive corridor with high-priority drill targets in the South Priority Area and is planning prospecting and follow-up drill programs.
Company Highlights
- Dual Jurisdiction Exposure: Active exploration in Athabasca Basin and the Grants Uranium District, two of the most historically significant uranium-producing regions in North America.
- Rio Puerco Option: Binding term sheet signed for a transaction that would see North Shore Uranium acquire up to an 87.5 percent of the Rio Puerco uranium project in New Mexico, where there is a historical resource estimate of 6 million tonnes grading 0.09 percent eU₃O₈ for 11.4 million lbs of U₃O₈.1
- Falcon Discovery in 2024: Maiden drill program confirmed near-surface uranium mineralization at two targets on the Falcon property in the Athabasca Basin in a previously undrilled area within 30 km of the active Key Lake uranium mill.
- Path to Resource Definition: Upon completion of the transaction, North Shore plans to validate historical data, attempt to expand the resource and evaluate the ISR potential at Rio Puerco and concurrently work to expand the discovery footprint at Falcon.
- Lean Structure, Strong Insider Support: $2.2 million market cap (as of July 2025), 40.3 million shares outstanding, with 43.3 percent held by insiders and founding investors.
- High-caliber Team: Led by award-winning geologist Brooke Clements and supported by proven uranium dealmakers and technical experts.
This North Shore Uranium profile is part of a paid investor education campaign.*
Click here to connect with North Shore Uranium (TSXV:NSU) to receive an Investor Presentation
