Maybell’s Maiden Resource Validates Exploration Target but Faces Development Hurdles

Maiden Resource Marks a Milestone

Global Uranium and Enrichment Limited (ASX – GUE) has taken a significant step forward in its North American uranium strategy with the announcement of a maiden JORC (2012) Mineral Resource Estimate for its Maybell Uranium Project in Colorado, USA. The resource totals 6.0 million pounds of uranium oxide (U3O8) at a robust grade of 849 parts per million, derived from a modest but highly focused 25-hole drill program completed in 2024.

Prepared by independent consultants Tetra Tech, the resource estimate confirms the presence of substantial high-grade uranium mineralisation within a historically productive district that yielded 5.3 million pounds of U3O8 between 1954 and 1981. This maiden resource not only validates the company’s previously announced Exploration Target range of 4.3 to 13.3 million pounds but also highlights the continuity and thickness of mineralisation, underscoring the project's emerging status as a key asset in Global Uranium’s portfolio.

Strategic Location and Market Tailwinds

Maybell sits within the Sand Wash Basin, a recognised uranium district with a rich mining history. The project’s geology features tabular sandstone-hosted uranium deposits associated with redox interfaces, a style well understood and amenable to modern exploration techniques. The recent drilling program confirmed mineralisation extending beyond historical open pits, including promising down-dip and lateral extensions, suggesting significant upside potential.

Global Uranium’s Managing Director, Andrew Ferrier, emphasised the favourable timing of this development, citing strong tailwinds from rising US energy demand; particularly from AI data centres; and supportive policy settings under the Trump administration aimed at bolstering domestic uranium production. These factors create a conducive environment for advancing uranium projects in the United States, positioning Maybell advantageously within the broader energy transition narrative.

Technical Rigor and Resource Classification

The resource estimate employed an inverse distance squared algorithm constrained by geological wireframes, with a cut-off grade of 250 ppm U3O8. While the resource is classified as Inferred due to the historic nature of much of the data and the limited modern drilling, the consistency between recent and historical drill results lends confidence to the estimate. The company plans further drilling to upgrade the resource classification and expand the resource base, targeting extensions identified in the 2024 program.

The drilling utilised mud rotary techniques combined with calibrated gamma logging to quantify uranium grades, a standard approach for sandstone-hosted uranium deposits. The project benefits from a comprehensive historical dataset, which has been digitised and integrated with recent data to refine geological models and exploration targets.

Looking Ahead – Expansion and Development

With the maiden resource now established, Global Uranium is preparing for a more extensive follow-up drill program in 2026 aimed at resource expansion and upgrading. Additionally, a scoping study is planned to assess the economic potential of the Maybell Project. These next steps will be critical in translating the geological promise into a viable development opportunity.

Maybell complements Global Uranium’s broader North American portfolio, which includes other high-grade projects in Wyoming, Colorado, Utah, and Canada’s Athabasca Basin, as well as a strategic investment in Australian uranium enrichment technology. Together, these assets position the company to capitalise on the anticipated resurgence of nuclear energy as a clean power source.