PEN - Peninsula Energy Announces Substantial Resource Increase at Wyoming Uranium Projects

(NewsDirect)

Peninsula Energy CEO Wayne Heili joined Steve Darling fromProactive to share significant updates regarding the Mineral ResourceEstimate (MRE) for the company's Lance Projects situated inWyoming, USA, a region renowned for its prominence in uranium mining.The MRE, calculated based on In-situ Recovery methods, has undergone asubstantial increase, now standing at 58.0 million pounds U3O8. Thisrepresents a noteworthy 7.8% uptick from the previous estimate of 53.8Mlbs, attributable to the fruitful drilling campaigns conducted in2023 within the Ross and Kendrick Areas of the Project. Heiliunderscored the strategic significance of this augmented resourcebase, particularly in light of ongoing initiatives by the UnitedStates government aimed at revitalizing domestic uranium productionand bolstering the nation's nuclear fuel cycle capacity. AsPeninsula Energy prepares for the resumption of commercial productionat its Lance Projects, the timing of this resource enhancementcouldn't be more opportune. Furthermore, the MRE expansionisn't merely confined to overall estimates but extends to specificareas earmarked for the Life-of-Mine economic study. In thesedesignated zones, the Mineral Resource Estimate surged by a remarkable19.6%, signaling promising prospects for sustained growth andoperational viability. Looking ahead, Peninsula Energy has outlinedcomprehensive plans for additional delineation and developmentdrilling endeavors across the Ross and Kendrick areas throughout thecurrent calendar year. These initiatives will serve as crucialprecursors to the preparation and dissemination of future updates tothe JORC Code compliant Mineral Resource Estimate for the LanceProjects.

ContactDetails

Proactive Investors

JonathanJackson

+61 413 713 744

jonathan@proactiveinvestors.com

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