Gamma Resources Submits Notice of Intent for Drill Program at Mesa Arc Uranium Project, New Mexico

The most recent news (Feb 23, 2026) confirms that Gamma Resources has submitted a Notice of Intent (NOI) to the U.S. Forest Service for a 10-12 hole exploration drill program at its Mesa Arc Uranium Project in New Mexico. This follows the Jan 13, 2026, filing of an NI 43-101 Technical Report which outlined a two-phase exploration strategy. The company is now moving toward a formal Plan of Operations and the NEPA review process. This indicates a steady progression from project acquisition (Sept 2025) to active permitting.

The impact is Routine - Positive. While the submission of an NOI is a necessary operational step, it is not a "Game Changer" as it merely confirms the company is following the timeline established in late 2025. - Operational Progress: The company is successfully transitioning from a "shell-like" state (formerly Gabo Mining) to an active explorer. - Market Context: The news highlights a recovery in spot uranium prices to $82/lb, which provides a favorable backdrop for the project's economics. - Execution Risk: The transition from NOI to actual drilling depends on the NEPA review, which can be lengthy. The company has not yet secured a "drilling" permit, only initiated the intent.

Gamma Resources (formerly Gabo Mining) is focused on U.S. domestic uranium. - Flagship: Mesa Arc Project, New Mexico. It covers a 4-mile mineralized trend in the Morrison Formation. - Secondary Project: Green River Project, Utah. - Technology: Holds a proprietary rare-earth extraction process (MMP) licensed to ACDC Metals (Australia), providing potential royalty upside and equity exposure.