Argus Metals today reports that they have received the exploration license and title to the other half of their very large uranium project in Guyana – this is a significant turn of events for this company with the Kaitama project being one of the world’s largest, un-drilled uranium targets. This high-impact project’s significance is 3-fold:

First, size. Where many of the “new” uranium explorers are seeking 10’s of millions of pounds of uranium, the target at Kaitama is similar to that of Rossing South (now known as Husab Uranium Project), in Namibia, Africa that went from discovery to a maiden resource of some 125 million pounds of uranium. Husab is now the fourth largest, primary uranium deposit in the world with a measured resource of 84 million pounds, indicated resource of 274 million pounds and 130 million pounds of inferred resource (as of June 2011, Extract Resources website).

Second, logistics. Argus’s Kaitama project is located only ½ kilometer from a deep water shipping port with both an active, paved airstrip and rail grade close by, all accessible by all weather roads. Although uranium is actually one of the most abundant elements in the world, as a source of energy, concentration (size) and ability to bring it to market is the key to value for these deposits. The Rossing South deposit currently in development, would be second only to McArthur River (Canada) in the world as a producing uranium mine.

Third, drill ready. Argus has been working diligently behind the scenes for 2 years to tie-up title and license to this whole project, receiving the final part today. Previous work by others allows this project to be drill ready by Argus. The combined license areas of Kaituma East and West now cover the full ten kilometers strike length of radiometric anomalies defined by: a 1982 Cogema soil sampling and geophysical program, a 1996 BHP airborne radiometric survey and a StrataGold 2007 stream, soils and trenching program.

The company has demonstrated that their geological skill and methodology works on a small scale in the Yukon. This drill-ready project is of a top-in-the-world magnitude that would undoubtedly have a significant impact on the uranium market and the company on any drill success this year. The receipt of the titles and licenses for this project in itself can allow the company to finance and budget a campaign whereby the drill can readily tell the story of if they have the goods or not.