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Highlights
Phase 1 geophysical surveying launched at Squaw Creek using spectral scintillometer technology
Historical uranium exploration data integrated into current fieldwork to validate radiation anomalies
Field activities support regional expansion strategy within the Shirley Basin district
Metals One Plc (LON:MET1), listed on the FTSE AIM 100 Index, continues early-stage exploration activities at its uranium asset in the United States. The company, which is focused on the development and advancement of mineral resources, has provided an update regarding ongoing efforts at the Squaw Creek Uranium Project located in Wyoming’s Shirley Basin. This update forms part of the broader Phase 1 work programme initiated across its North American exploration portfolio.
Geophysical Surveys Initiated
A grid-based geophysical programme has commenced on site using the Radiation Solutions RS-125 spectral scintillometer. This equipment is being deployed to identify radiation patterns consistent with uranium mineralisation. The survey covers the full Squaw Creek claim block and is designed to inform subsequent targeting decisions.
Review of Historical Exploration Data
As part of the ongoing efforts, Metals One is currently analysing legacy geological records, including historic uranium and water well data. The focus lies on detecting gamma ray signatures previously recorded in the region, which indicate zones with uranium-bearing materials. These insights are being used to refine geological models and guide current field operations.
On-the-Ground Fieldwork Activities
Current field activities involve geological mapping, prospecting, and surface sampling of historic mine dump sites. The team is also engaged in relocating historical adits and workings across the claim block to update site information. These actions are intended to corroborate historical findings and provide a robust foundation for future exploration phases.
Regional Survey and Expansion Strategy
Metals One is also conducting a regional survey that may result in the expansion of its current claim area. This includes extending geophysical lines beyond existing boundaries to evaluate nearby zones of interest. Such efforts are being pursued to optimise coverage in this historically significant uranium-producing district.
Location in Proximity to Advanced Nuclear Infrastructure
The Squaw Creek Project is located within the Shirley Basin, a region historically known for uranium output compatible with in-situ recovery methods. The area is also situated near emerging nuclear technologies, including the TerraPower Natrium advanced reactor development. This strategic setting aligns with the company's broader objective of aligning exploration efforts with energy infrastructure development.
Regulatory and Acquisition Update
The company has submitted all relevant claim documentation to the Bureau of Land Management in both Colorado and Wyoming. The claims for the Colorado-based Uravan Vanadium Project have been fully processed, while processing of the Wyoming-based Squaw Creek Project is expected to conclude soon. All remaining agreements for the acquisition of both properties have been finalised and are ready for formal execution.
Forward Exploration Framework
The data generated during Phase 1 will be used to design a subsequent work programme scheduled for later in the year. Activities are focused on developing an accurate and modern geological understanding of the area. Metals One has affirmed that both the Colorado and Wyoming projects are part of its strategy to establish a strong operational footprint in the U.S. uranium space.
