Key Takeaways:
Noble Plains Uranium Corp. announced a maiden mineral resource estimate for its Duck Creek Project in Wyoming, defining 5.32 million pounds of indicated uranium and 1.04 million pounds of inferred uranium just eight months after acquiring the project. The NI 43-101 compliant estimate, prepared by WWC Engineering, follows a 148-hole drill program that validated historical data and forms a foundational milestone for the U.S.-focused exploration company.
"Today's resource announcement is a defining moment for Noble Plains and, importantly, one we've delivered in well under a year from the day we closed on Duck Creek," said Drew Zimmerman, CEO of Noble Plains. "This resource is a starting point, not a finish line. We've drilled roughly half of the mineralized trend on our expanded land package, we have an additional Exploration Target to grow into, and we still have an entirely separate formation in the Fort Union, that we believe could host significant additional potential."
The maiden resource was calculated using a grade cutoff of 0.020% eU3O8 and a grade x thickness (GT) cutoff of 0.20. The indicated resource totals 4.29 million tons at an average grade of 0.06% U3O8, with the inferred resource at 839,000 tons grading 0.09% U3O8. The drill program's results surpassed the upper limits of a previous exploration target by 30% on grade and 40% on GT. The project is located in Wyoming's Powder River Basin, a prolific uranium district, situated between projects owned by Cameco Corp. and Uranium Energy Corp. (UEC). Nearby, Ur-Energy recently commenced operations at its Shirley Basin ISR project, which holds 9.1 million pounds of U3O8.
Looking ahead, Noble Plains plans further drilling in 2026 to convert a newly defined Exploration Target, which is estimated to contain between 941 and 1,021 thousand tons grading between 0.020% and 0.052% U₃O₈. This target covers the remaining 2.75 miles of the mineralized trend. The company also plans to test the deeper, and largely untested, Fort Union Formation for additional uranium potential.
This article is for informational purposes only and does not constitute investment advice.
