Metals One (AIM: MET1) has officially commenced geophysical exploration at its newly acquired Squaw Creek uranium project in Wyoming’s Shirley Basin, a renowned district for in-situ recovery-amenable uranium deposits.
Using a Radiation Solutions RS-125 spectral scintillometer, the company is conducting radiation surveys across the Squaw Creek claim block to detect uranium-related signatures. In parallel, a comprehensive review of historical water well and uranium drill data is underway, with early findings identifying gamma ray anomalies indicative of mineralisation both within and around the project area.
Metals One PLC Building Europe’s Critical Minerals Pipeline
The exploration program also includes:
-
Geological mapping
-
Reconnaissance prospecting
-
Surface sampling of historic mine dumps
-
Relocation mapping of adits and legacy workings
These efforts aim to validate and expand historic exploration data and lay the groundwork for a broader Phase 1 program.
A regional geophysical survey is also planned to assess opportunities for claim expansion beyond the current boundary. This may include the extension of survey lines into adjacent target zones.
Squaw Creek is strategically located near TerraPower’s Natrium advanced reactor project, placing it in close proximity to one of the most significant nuclear developments in the U.S.
Metals One also noted that while the acquisitions of Squaw Creek and the Uravan vanadium project in Colorado are not yet formally complete, the process is progressing. County claim numbers have been received, and all claim documentation has been submitted to the Bureau of Land Management (BLM) in both states. The Colorado claims have been processed, and Wyoming’s approval is expected shortly, paving the way for finalisation of exploration leases.
“We have now commenced Phase 1 exploration work across our two uranium projects in Colorado and Wyoming, representing key milestones as we develop our presence in the U.S.,”
said Craig Moulton, Chairman of Metals One.“Uranium is crucial for the U.S. energy transition, and with growing energy demands and climate targets, domestic uranium projects will be vital in supporting the country’s energy security.”
Comment: Shares of MET1 continue to regroup after the 55p to sub 10p decline earlier this month. Keeping regular newsflow going seems to be successfully soothing nerves.
