Noble Plains Uranium's Duck Creek Acquisition: A Strategic Play in a Uranium Powerhouse

The Powder River Basin in Wyoming, a cornerstone of U.S. uranium production, has long been synonymous with low-cost, environmentally sustainable in-situ recovery (ISR) mining. Noble Plains Uranium's recent acquisition of an 80% interest in the Duck Creek Project solidifies its position as a key player in this prolific region. With a data-rich history and strategic adjacency to major ISR operators, the project offers a rare opportunity to rapidly advance uranium resources while capitalizing on a proven geological setting. Here's why investors should take note.

Strategic Location and Historical Data: A Recipe for Efficiency
The Duck Creek Project spans 4,133 acres within the heart of the Powder River Basin, flanked by ISR mines operated by industry giants like Uranium Energy Corp. and Cameco. This proximity is no accident: the basin has produced over 238 million pounds of uranium since the 1950s, with modern ISR methods enabling low-impact extraction from shallow deposits.

What sets Duck Creek apart is its 4,068 historical drill holes, drilled during the 1970s exploration boom. These data points outline a 3-mile-long uranium trend within the Wasatch Formation, with mineralization at depths as shallow as 50 feet—a sweet spot for ISR's cost efficiency. Unlike greenfield projects requiring extensive drilling campaigns, Noble Plains can leverage this legacy data to accelerate its path to an NI 43-101-compliant resource estimate. Confirmation drilling in 2025 aims to validate these historical findings, potentially fast-tracking the project into feasibility studies.

ISR's Rising Relevance in the Energy Transition
Uranium's role in the global energy mix is undergoing a renaissance. As nations seek to decarbonize grids, nuclear power—already providing ~10% of the world's electricity—is increasingly viewed as a critical baseload partner to renewables. In this context, ISR mining, which uses minimal water and generates no tailings, aligns perfectly with ESG-conscious investors.

The Powder River Basin's dominance in ISR is no accident: its flat topography and favorable hydrogeology enable efficient in-place extraction. Noble Plains' focus on this region reflects a shrewd understanding of where future uranium supply will likely come from. The company's decision to pair Duck Creek with its Shirley Basin projects (e.g., Shirley Central, announced June 3, 2025) further underscores its portfolio strategy—geographically concentrated assets reduce exploration risk and operational costs while leveraging shared infrastructure.

Risk Mitigation Through Structure and Synergy
The acquisition's terms are equally strategic. A $1.5 million payment schedule over three years, coupled with 5.5 million shares, keeps upfront capital light. The eventual 80:20 joint venture structure with the vendor and a 1% net smelter royalty ensure alignment with stakeholders while retaining flexibility. Crucially, the project's shallow mineralization and existing data reduce drilling uncertainty, a stark contrast to deeper, unproven targets.

Moreover, the Fort Union Formation—a deeper geological layer at Duck Creek—offers upside potential. While the Wasatch is the near-term focus, this untested formation could extend the project's lifespan, creating a multi-stage value driver.

Investment Thesis: A High-Potential, Low-Risk Entry
For investors, Noble Plains presents an intriguing opportunity. The Duck Creek acquisition checks several boxes:
- Proven Geology: Historical data reduces exploration risk and expedites resource definition.
- Strategic Synergy: Complementary Wyoming projects create economies of scale.
- ESG Alignment: ISR's low-impact profile appeals to modern investment mandates.
- Market Catalysts: A 2025 resource estimate and potential feasibility study results could drive valuation.

However, risks remain. Permitting delays, uranium price volatility, and competition for scarce drilling rigs could slow progress. Yet the Powder River Basin's established regulatory and operational framework, combined with Noble Plains' focused strategy, mitigates these concerns.

Final Take
Noble Plains' Duck Creek move is a textbook example of how to build value in the uranium space: leveraging legacy data in a world-class district to minimize risk while capitalizing on secular tailwinds. With a clear path to near-term resource delineation and a portfolio approach to Wyoming's potential, the company positions itself as a leader in a resurgent sector. For investors willing to stomach commodity cyclicality, this could be a compelling entry point to play the uranium revival—without overpaying for early-stage risk.

Stay tuned for the technical report and 2025 drilling results—the next milestones to watch.