Okapi Resources Ltd launches exploration for the Rattler uranium project in the United States

Okapi Resources continued to advance its uranium assets with the goal of becoming a new leader in carbon-free nuclear power in North America. Field exploration programs to flush the mineralization will guide Okapi’s next steps as it moves towards drilling at the Rattlesnake project.

Okapi Resources Ltd (ASX: OKR) began the first field exploration programs at its Rattler high-grade uranium project in Utah, United States, with a review of historical work, geological mapping and sampling of rock fragments.

Fieldwork is designed to provide information for future programs, with drilling planned for the first quarter of 2022 and rock chip assays expected in February.

These programs will culminate in detailed mapping and assessment undertaken by the director and Okapi exploration team in the country, which is expected to be completed by the end of the year.

Rattlesnake opencast mine

The Rattlesnake project is located in the La Sal uranium district, directly along strike – and with similar geology – to Energy Fuels Inc’s La Sal uranium and vanadium project, which has been in operation since 2006.

It is estimated that the district of La Sal historically held (before mining) 6.4 million pounds of U3O8 at 3,200 ppm U3O8 and 29 million pounds of V2O5 at 1.4% V2O5.

OKR’s Rattlesnake project area includes the Rattlesnake surface mine with historical production totaling 285,000 tonnes of ore at 2,800 ppm U3O8 and 1.0% V2O5 for 1.6 million pounds of U3O8 and 4.5 million pounds of V2O5.

The Rattlesnake deposit is the only outcropping style deposit in the immediate area, which Okapi says will respond well to simple surface exploration. All other deposits were discovered by exploration drilling.

Although data is not currently available for Okapi, extension mineralization was reportedly discovered immediately down dip north of the Rattlesnake mine with exploration drilling.

Energy Fuel’s La Sal project is fully licensed for mining and operated from 2006 to 2012. In 2014, Energy Fuel reported that the remaining resource at La Sal totaled 1.3 million tonnes at 1,700 ppm. U3O8 and 8880 ppm V2O5, for 4.5 million pounds of U3O8 and 23.4 million pounds of V2O5.

Okapi Resources also informs that resolution 3 proposed for the next AGM has been withdrawn following the retirement of David Nour at the end of the AGM.

About Okapi Resources

Okapi’s strategy is to become a new leader in carbon-free nuclear power in North America by bringing together a portfolio of high quality uranium assets through accretive acquisitions and exploration.

The company recently acquired a portfolio of advanced high-grade uranium assets in the United States of America.

The assets include a strategic position in one of the most prolific uranium districts in the United States – the Tallahassee Creek Uranium District in Colorado.

The Greater Tallahassee Creek Uranium District is home to over 100 million pounds of U3O8 with considerable opportunity to expand the existing resource base by acquiring additional complementary assets in the district.

OKR’s portfolio of assets also includes an option to acquire 100% of the Rattler high-grade uranium project in Utah, which includes the historic Rattlesnake open pit mine.

The Rattler uranium project is 85 kilometers from the White Mesa uranium plant, the only operating conventional uranium plant in the United States, providing a short-term, low-capitalization development opportunity.


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