Ucore Rare Metals and Stallion Uranium advance resource projects

Ucore Rare Metals has closed a C$69 million ($70.15 million) public offering to fund the development of its Louisiana Strategic Metals Complex in the United States. The facility, located in Alexandria, Louisiana, is a brownfield site dedicated to rare earth element separation and oxide production. The company aims to ramp up production from 2,000 tonnes per annum in 2026 to 7,500 tonnes per annum by 2028. The project has received US$15 million in incentives from the state of Louisiana.

Separately, Stallion Uranium Corp. is expanding its Coyote uranium drilling program in Saskatchewan’s Athabasca Basin. Following the discovery of increased radioactivity in recent drill holes, the company intends to increase its drilling program from 5,500 metres to approximately 6,750 metres. One specific hole, ML26-005, recorded a peak radioactive response of 1,416 counts per second, the strongest recorded at the Coyote target to date.