Global Uranium and Enrichment boosts Tallahassee resource with significant Hansen MRE upgrade

Global Uranium and Enrichment (ASX: GUE) has added 5% to the JORC resource at its Tallahassee project in Colorado, one of the largest undeveloped uranium deposits in the USA.

Thanks to a significant 11% increase in the mineral resource estimate (MRE) for the high-grade Hansen deposit, the total MRE for Tallahassee now stands at 44.8 million tonnes.

The increase of the Hansen MRE to 22.9 million pounds at 570 parts per million of uranium oxide compound follows Global Uranium’s recent completion of a successful drill program and the acquisition of additional mineral leases at the deposit.

Further opportunities

Managing director Andrew Ferrier said Global Uranium is continuing to look at other opportunities within the district to further consolidate its landholdings and expand in size and scale.

“Following the success of our drill program, which was completed in June 2024 and generated excellent high-grade results, we are excited to announce the delivery of a revised mineral resource estimate that increases Global Uranium’s 51% attributable share of the Hansen deposit resource from 20.5Mlb to 22.9Mlb,” Mr Ferrier said.

The company’s 1,764-metre diamond drill program at Hansen demonstrated the cohesive and continuous high-grade core of the deposit, with all but one of the eight holes drilled delivering thick and consistently high-grade results.

Development plans

Mr Ferrier told shareholders that the MRE results add further impetus to the company’s Tallahassee development plans.

“With our drill core samples already in laboratories for further analysis, we are excited about the progress of our scoping study.”

“Additionally, we are looking forward to an active exploration schedule across our portfolio, with drilling occurring at the high-grade Maybell uranium project over the coming months.”

“With the support of increasingly prevalent supply constraints, a strong commodity price and the growing recognition of the importance of securing domestic supply chains, Global Uranium is well-positioned for an exciting future.”

Growing presence

Mr Ferrier said the updated MRE also reflected the company’s new portfolio in the district, which includes a 100% mineral interest in the Taylor, Boyer and High Park deposits and a 51% mineral interest in the Hansen and Picnic Tree deposits.

Hansen was discovered in 1977 and has some of the highest grades and widths in the district, contained within flat-lying tabular horizons up to 70m thick and at a depth of between 150m and 200m.

Approximately 1,000 drill holes have now been completed across both the Hansen and Picnic Tree uranium deposits.