Vanguard Mining Corp. has entered into a letter of intent to acquire four uranium concessions covering approximately 90,000 hectares in Paraguay’s Parana Basin, strategically located near Uranium Energy Corp.’s established Yuty multi-million-pound deposit.
The acquisition includes three San Jose and one Yuty Uno concessions, collectively known as the Yuty Prometeo project. These concessions are positioned in a region with historical uranium exploration and promising geological characteristics.
Under the transaction terms, Vanguard will acquire an 85% interest in Paraguay Uranium by paying $20,000 upon signing, issuing 8,000,000 common shares to Paraguay Uranium shareholders, and providing an additional $20,000 payment upon receiving a prospecting permit.
Previous exploration on the Uno Concessions has yielded uranium assay results ranging from 0.05% to 0.10% U₃O₈, with 28 drill holes completed. Geophysical surveys and surface sampling suggest the Prometeo block is geologically aligned with UEC’s adjacent Transandes block.
The San Jose Concession covers approximately 62,210 hectares along the Upper Permian-Carboniferous contact. A radiometric car survey identified significant uranium anomalies across the property, enhancing its exploration potential.
The adjacent Yuty ISR Project, owned by UEC, has an established resource estimate of 8.962 million pounds of U₃O₈ in the Indicated category and 2.203 million pounds in the Inferred category. This proximity provides Vanguard with a strategic advantage in understanding the region’s uranium potential.
Paraguay presents an attractive mining jurisdiction with political stability, low sovereign risk, and an investor-friendly regulatory environment. The country’s growing interest in mineral exploration, particularly in uranium and strategic minerals, makes it an increasingly appealing destination for mining investments.
Vanguard Mining’s CEO, David Greenway, emphasized the significance of this acquisition, noting that it represents a transformative step in the company’s uranium exploration strategy and positions them in one of South America’s most promising uranium regions.
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