Canadian miner Urano Energy has acquired 15 uranium properties in the Colorado Plateau region of Utah and Colorado, facilitated through purchase agreements with two Utah-based private companies.
Urano Energy agreed to pay a total of $5.82m (C$8.17m) in cash and issue shares worth $4.8m as consideration for the properties.
This strategic move expands the company’s uranium portfolio, adding 345 claims across 8,200 acres. Out of the 15 properties, 14 have a history of production, highlighting the area’s rich mining heritage.
The newly acquired properties join Urano Energy’s existing assets, which include three properties in Utah and five in the Colorado section of the Uravan Mineral Belt.
All properties feature known mineralisation and are situated in three key mining districts in Utah – the Uravan Mineral Belt, La Sal and Lisbon Valley districts.
With this transaction, Urano Energy now holds a total of 21,840 acres in a region renowned for its historical uranium exploration and mining.
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
Each of the 15 properties is known for its sandstone-hosted uranium mineralisation, with the Green River Property in Utah being particularly notable for its prospective uranium assets and existing mining permits.
Urano Energy plans to initiate exploration work including confirmatory drilling and the digitisation of valuable historical geological data.
Uranium mining in Utah and Colorado has a storied past, with the Uravan Mineral Belt alone responsible for 80 million pounds of uranium production since 1945.
The region’s deposits in sandstone formations have contributed to the nuclear energy sector.
Urano Energy CEO Jason Bagg said: “The acquisition of these properties, most of which had historic production in leading uranium producing districts, is important to the development and growth of Urano Energy. These projects, featuring accessible, shallow, tabular-style deposits, provide the company with a variety of development and strategic opportunities.”
