Open pit historical non-compliant resource estimate. The resource estimate at the time was based on a 0.04% U3O8 cut-off, with drilling at these deposits conducted on 50 foot centres. Open pit orientated deposits were also found on the property, with at least eight such deposits outlined by Union Carbide within the Fall River and Lakota formations. Underground historical non-compliant resource estimate. At the time, Union Carbide contemplated a potential open pit and underground mining operation for this deposit, but halted its plans due to low uranium prices. This drilling activity resulted in a non-43-101 compliant measured and indicated resource estimate totaling 2.37 million pounds of U3O8 – and the potential for an additional 1.44 million pounds of U3O8 measured and indicated resources. Two unoxidized deposits were delineated on the property at depths of 350 ft. These are typically found in the Cretaceous-age Fall River formation and in the three sands of the lower Chilson member of the Lakota formation. Union Carbide (now owned by Dow Chemical) drilled the claim block during the 1970s, finding three areas of mineralization hosted within roll front–type deposits. The contiguous claim block is on lands managed by the United States Forest Service, and these were optioned from Cowboy Exploration and Development LLC in a US$1.5 million all-cash transaction for 100% ownership, payable over three years. (TSXV: PEGA) announced an impressive addition to its asset portfolio with the acquisition of 147 lode mining claims covering an area of approximately 3,037 acres in Fall River County, South Dakota known as the Chord property.
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