Quarterly Activities Report
Perth, July 30, 2021 AEST (ABN Newswire) - Okapi Resources Limited (
ASX:OKR) (26O:FRA) is pleased to report activities completed during the 30 June 2021 quarter.
Highlights
- Drilling commences at the Enmore Gold Project in NSW with an initial drill campaign of 10 holes, with a minimum drilling distance of 1,000m over priority prospects following approvals awarded by the NSW Government and drill rigs secured
- Post quarter end, drilling program at the Enmore Gold Project in NSW completed, comprising 10 holes for 1,257m
- Program to test the depth extent of shallow mineralisation reported from historic drilling
- Completion of an infill geochemical soil survey on Mount Day Project
- The survey on Mount Day Project increases the resolution of the previously completed soil survey, identifying areas for more detailed follow up and defining drilling targets
- Okapi's 100% highly prospective gold tenement E63/2039 granted
- Infill soil sampling program at E63/2039 conducted during the quarter and completed in July 2021
- Completion of Tranche 2 Placement raising $0.8M at $0.19 per share to progress the Enmore Gold Project
- Completion of Placement raising $0.65M at $0.21 per share with one free attaching Listed Options for every share subscribed
- Appointment of Mr Peretz Schapiro as Non-Executive Director/Interim Chairman and Mr Leonard Math as Executive Director
Okapi's Executive Director, Mr David Nour said, "The June quarter has been an extremely busy quarter with exploration activities conducted on Okapi's projects including a drilling program at the Enmore Gold Project."
"In addition, during the quarter, the Board has been busy assessing a number of project opportunities and successfully entered into a binding agreement in July to acquire Tallahassee Resources, which holds a portfolio of large, superior and high-grade uranium projects in the US combined with an experienced team holding in-depth knowledge of North America. This is a transformational opportunity for Okapi to become one of the most prominent uranium developers in the world."
"The Company is fortunate to have Peretz and Leonard joining the Board of Okapi and their experience and knowledge will be invaluable to this growing Company. It has also been a great pleasure working with Andrew, Rhod and Raymond. On behalf of the Company, I thank them for their contribution and wish them well for their future endeavours."
"It has been a busy quarter and I thank everyone involved. The Board and I look forward to a great 2021/2022 ahead."
To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/67WJX96V
About Okapi Resources Limited
Okapi Resources Limited (ASX:OKR) recently acquired a portfolio of advanced, high grade uranium assets located in the United States of America and in the Athabasca Basin, Canada.
Assets include a strategic position in one of the most prolific uranium districts in the USA - the Tallahassee Creek Uranium District in Colorado. The Tallahassee Uranium Project contains a JORC 2012 Mineral Resource estimate of 27.6 million pounds of U3O8 at a grade of 490ppm U3O8 with significant exploration upside. The greater Tallahassee Creek Uranium District hosts more than 100 million pounds of U3O8 with considerable opportunity to expand the existing resource base by acquiring additional complementary assets in the district.
The portfolio of assets also includes an option to acquire 100% of the high-grade Rattler Uranium Project in Utah, which includes the historical Rattlesnake open pit mine. The Rattler Uranium Project is located 85km from the White Mesa Uranium Mill, the only operating conventional uranium mill in the USA hence provides a near term, low-capital development opportunity.
In January 2022, Okapi acquired a portfolio of high-grade exploration assets in the world's premier uranium district, the Athabasca Basin. The Athabasca Basin is home to the world's largest and highest-grade uranium mines.
Okapi's clear strategy is to become a new leader in North American carbon-free nuclear energy by assembling a portfolio of high-quality uranium assets through accretive acquisitions and exploration.
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