Quarterly Activities Report
- Acquisition of 100% of Tallahassee Resources Pty Ltd and its portfolio of large, high-grade uranium projects in the United States completed in August 2021 including the Tallahassee Uranium Project and the Rattler Uranium Project
- Acquisition of the past-producing Sunnyside Uranium Mine in Utah (historical uranium production at grades of 1,500ppm U3O8 and 1.5% V2O5) completed in September 2021
- Outstanding drill results at the Enmore Gold Project, NSW including 174m @ 1.83g/t gold, from surface ending in mineralisation with 3m @ 8.86 g/t gold from 171m to EOH announced in September 2021
- Tallahassee Uranium Project Maiden JORC 2012 Mineral Resource of 27.6 million pounds of U3O8 at 490ppm U3O8 announced in October 2021
- Planning of maiden drill programs at the Company's North American uranium projects and Enmore Gold Project well advanced
- Okapi well-funded with A$5.76m in cash and cash equivalents
- Okapi also has 17.9 million listed options on issue (ASX:OKRO) expiring on 31 March 2023, if all are exercised Okapi's cash balance will be supplemented by a further $5.37 million
- Clear strategy to become a new leader in North American carbon-free nuclear energy by assembling and developing a portfolio of high-quality uranium assets through accretive acquisitions and exploration
Okapi Resources Executive Director, David Nour, said:
"This is has been a truly transformational quarter for Okapi with the completion of the acquisition of Tallahassee Resources and its portfolio of large, high-grade North American uranium projects. We have not only acquired a portfolio of high-quality assets but also a team of experienced mining executives with a track record of successfully identifying and developing North American uranium assets. Tallahassee remains focussed on executing its strategy to become a new leader in North American carbon-free nuclear energy."
"Okapi also had success at the Enmore Gold Project, with drilling results showing the potential for a very large, shallow and high-grade gold deposit. The depth potential is also very encouraging and we have multiple prospects that remain untested. We are now busy planning for the next drilling campaign at the Enmore Gold Project."
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About Okapi Resources Ltd
Okapi Resources Limited (ASX:OKR) is a minerals exploration company focused on the discovery and commercialisation of mineral deposits in Australia. Okapi's primary objective is to discover and develop mineral resources from its current portfolio. The Company has carefully selected projects with historical workings and excellent results. Okapi has a team of professionals with an exemplary record of success and with a particular history in Australia. Okapi is also pursuing a growth strategy that aims to appraise and secure further exploration and development opportunities within gold and mineral endowed districts.
Okapi Resources Ltd