Metals One (MET1) has initiated geophysical studies at its new Squaw Creek uranium project in Wyoming, United States.
The company is using a Radiation Solutions RS-125 spectral scintillometer, focusing on detecting radiation signatures across the Squaw Creek claim block.
Meanwhile, a detailed review of historic water well and uranium exploration well data is also in progress, identifying gamma ray signatures indicative of uranium mineralisation within and near the project area.
The company is also initiating geological mapping, reconnaissance prospecting, surface sampling of historic mine dumps, and relocation mapping of adits and other workings, aimed at validating and expanding historical exploration data.
A broader regional survey is planned too. This will assess potential claim expansion opportunities, including extending geophysical survey lines and assessing adjacent target areas outside the current claim boundary.
Squaw Creek is situated within Wyoming's Shirley Basin, a premier uranium district known for in-situ recovery-amenable uranium mineralisation, and is located in proximity to TerraPower's Natrium advanced reactor project.
Completion of the acquisition of Squaw Creek, as well as the Uravan vanadium project in Colorado, remains subject to certain conditions.
The company has received all the respective County Claim numbers for the Uravan and Squaw Creek claims, and all claim documents have been sent to the Bureau of Land Management in Wyoming and Colorado respectively. The BLM claim documents for Colorado have now been processed and the company expects the Wyoming BLM process to conclude shortly, after which the exploration leases can be granted. All other acquisition documentation has been drafted and agreed in preparation for formal closing.
"As we work towards completing this strategic acquisition, we remain encouraged by progress made during Phase 1 exploration at Squaw Creek,” said Craig Moulton, chairman of Metals One.
“We have now commenced Phase 1 exploration work across our two uranium projects in Colorado and Wyoming, representing key milestones as we develop our presence in the U.S. Uranium is crucial for the U.S. energy transition, and with growing energy demands and climate targets, domestic uranium projects will be vital in supporting the country's energy security.”
View from Vox
Good to see progress continuing at Squaw Creek in the context of a greater global emphasis on security of uranium supply. Metals One has been particularly dynamic in terms of deal flow and activity this year, setting the pace for its peers to follow. The newsflow following this repositioning, and as exploration gets underway in earnest on the expanded portfolio of assets should be very interesting.