Okapi Resources Limited (ASX: OKR |OTCQB: OKPRF) has advised that it continues to make progress on its Conditional Use Permit (CUP) application covering the Hansen and Picnic Tree deposits with Fremont County in Colorado, providing a pathway towards developing the Tallahassee Uranium Project.
The Hansen and Picnic Tree are the key deposits within Tallahassee Uranium Project consisting of 22.2Mlbs U3O8 at 610ppm U3O8.
Okapi has received a positive recommendation from the County Planning Commissioners after successfully completing a detailed technical review and public meeting. The next step is approval from the Board of County Commissioners who makes the final determination at a public hearing. Approval of the CUP permit at the Hansen and Picnic Tree deposits will allow Okapi to complete a focused drill programme to supplement the significant existing data on the project.
The Tallahassee Uranium Project continues to progress through the key approval milestones on the back of positive price momentum with the spot uranium price currently sitting at US$70.50/lb which is a 12 year high. A key positive catalyst in the market is the potential for the US congress to limit the importation of Russian-sourced nuclear fuel for US consumption. A ban on Russian uranium would have a significant positive impact on domestic suppliers of uranium as the US (the largest consuming country of uranium) is currently 100% dependent of foreign uranium.
To find out more, please visit www.okapiresources.com
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