2024-07-11 14:50:00 ET
Indigo Exploration ( TSXV : IXI ) has announced the acquisition of a 100 percent interest in the Hot property, a uranium project located in the Shirley Basin of Wyoming, US.
“Gaining 100 percent interest in a project of this calibre, located in a key uranium district next to past production and some of the preeminent US-focused uranium producers and developers, and with extensive historical drill results, is an exciting new development for the Company,” Indigo’s President and CEO Paul Cowley commented in the company's press release .
The Hot property covers 71 unpatented mineral claims over a 5.75 square kilometer area and has been the site of extensive historical exploration since the 1960s.
Wyoming is historically the largest uranium-producing state in the US and has the greatest uranium ore reserves. The Shirley Basin produced over 51 million pounds of U3O8 from 1960 to 1992 at an average grade of 0.22 percent U3O8. However, depressed uranium prices in the late 1900s led to many mines in the region shuttering. The resurgence in uranium prices in recent years has brought interest back to the region as companies look to restart operations, develop uranium deposits or make new discoveries.
For further details see:
Indigo Acquires Hot Uranium Property in Wyoming