Pegasus Resources owns Properties with Great Potential
Pegasus Resources (PEGA.V), a Canadian company holding four Uranium properties located immediately Northeast of the prolific Northern Saskatchewan’ Athabasca Basin, saw its stock price relatively steady Year-over-Year and is even actually up 25%. If the company faces well a bearish market, it can be explained because the company is going towards the right way, notably with the RadonEX Survey on the Pine Channel Uranium Project, which commenced on June 28. With all the recent news releases the company shared, the company looks significantly undervalued.
Pegasus Resources owns 4 four Uranium Projects, all located in the prolific Athabasca Basin of Northern Saskatchewan. This area includes a historical resource estimate of 204,200 tons at 0.110% U308 at an average width of 15.8 feet (4.8m), containing 535,718 pounds of uranium.
Chord Project: Located in Fall River, South Dakota, the Chord Uranium Property contains 147 lode mining claims totaling 3,037 acres. Historical work at the project indicated resources totaling 2,379,990 lbs. U3O8. Mineralization occurred in three areas and was evaluated by Union Carbide for conventional open pit and underground mining. Pegasus Resources plans to conduct drilling programs after acquiring additional public and identified privately owned data packages. Drilling objectives are to confirm historical Union Carbide results and to explore additional mineralization along projected trends.
Energy Sands Project: The Energy Sands project consists of sandstone-hosted UrUraniumnd vanadium mineralization with demonstrated potential to establish resources. This project is approximately 4 kilometers from the Western Uranium’s Rafael Uranium Project, which hosts 758,050 tons of mineral resources averaging 0.225% U3O8 and 0.30% V2O5 (containing 3.4M pounds of U3O8 and 4.6M pounds of V2O5.
Northeast Athabasca project: this big project contains four Uranium properties, including a historical resource estimate of 204,200 tons at 0.119% U3O8 at an average width of 15.8 feet and containing 535,718 pounds of UrUraniumThe project is divided into four properties that cover 54,026 ha in 13 mineral claims: Wollaston Northeast (7 claims, 35,721 ha), Bentley Lake (3 claims, 12,387 ha), and Mozzie Lake (3 claims, 6,908 ha), and the Pine Channel (1 claim).
The Wollaston Northeast uranium property hosts numerous mines and uranium showings, such as Key Lake, Rabbit Lake, Eagle Point, and others. Historic exploration successfully identified multiple uranium/base metal showings, including an unresolved radioactive boulder train at Gallagher Lake with up to 0.244% U3O8.
The Bentley Lake Uranium property is located in the transition zone between the Mudjatic-Wollaston domains, a notable trend as several unique deposits such as Roughrider, Midwest, Cigar Lake, McArthur River, and others. The Mozzie Lake Uranium property has a historical resource estimate at the 20A zone with 204,200 tons at 0.119% U308 at an average width of 15.8 feet (4.8 meters), containing 535,718 pounds of uranium.
Golden Project: The Gold Project garners three properties along a trend located along the British Alberta border. If this project doesn’t include uranium claims, it comprises gold, silver, and other mineral claims on three properties:
Golden Mountain property: it is an early-stage gold/silver property containing two claims which cover 802 had;
Vertebrae Ridge property: it consists of 2 mineral claims totaling over 2,871 ha;
Punch Bowl property: this property gathers three mineral claims and covers 3,079 ha. The property surrounds the historic Punch Bowl, where discrete quart-gold veins are hosted within quartzites and perlites of the McNaughton Formation.
Management & Advisory board
The company is led by Charles Desjardins, CEO & CFO. Strong with 30 years of public company experience in finance and public company management, he is also the Tandem Capital Group CEO. He was active in the investor relations field during the mid-1980s. Mr. Desjardins was also president of numerous public mineral exploration and technology companies.
Jody Dahrouge works as an advisor for Pegasus. He is a professional geologist with over 25 years of experience in Canada and internationally. Mr. Dahrouge has had professional success stories in base metals, industrial minerals, rare metals, and uranium exploration. Jody Dahrouge was also President and COO of Fission Energy Corp. (“Fission”) and played a key role in the acquisition of several of Fission’s key exploration properties, including Waterbury Lake, Patterson Lake, and Patterson Lake South (“PLS”). Those projects eventually discovered two significant uranium occurrences: the J-Zone at Waterbury Lake and the Triple R uranium deposit at PLS.
June 28, 2022: the company announced that it had commenced the RadonEX survey on its Pine Channel Uranium Project, located in the Athabasca Basin region of northern Saskatchewan. “We are excited to be starting the RadonEX survey on Pine Channel,” stated Chris Timmins, President of Pegasus. “A previous RadonEX survey identified exploration targets on the Patterson Lake trend for Fission Uranium Corporation and Nexgen Energy Ltd., leading to the discovery of additional zones, including the Triple R Zone. We look forward to identifying exploration targets and following up on them.”
June 22, 2022: On this day, Pegasus closed the transactions with Trillium Gold Mines and Imagine Lithium. Trillium paid Pegasus $20,000 in cash and issued 100,000 common shares in the capital of Trillium to earn into certain option agreements that Trillium. Further, upon closing, Imagine giving 1,500,000 common shares to Pegasus. Further to Imagine’s receipt of TSXV approval, Imagine delivered to Pegasus $150,000 cash and 1,000,000 common shares of Imagine. Similarly, Pegasus received TSXV approval on May 11, 2022, for issuing Imagine of 5,000,000 common shares in the capital of Pegasus.
Pegasus Resources (PEGA.V) owns many uranium projects, a material needed for the future, combined with gold/silver, the most reliable commodities. The recent news releases strengthen the company’s future and show it is headed the right way. The current share price doesn’t reflect the company’s growth and potential. Any bullish signals on the general markets, sectors, or revenues would help the company’s share price to increase. PEGA is a solid long-term hold.