Metals One (AIM:MET1) has expanded an agreement with DISA Technologies to evaluate and, if successful, treat historically abandoned uranium mine waste dumps and recover saleable uranium and other critical mineral concentrates at the company's 100%-owned Uravan Belt Uranium‑Vanadium Project in Colorado.
Under the expanded deal DISA will operate and fund all permitting, evaluation, treatment and remediation using modular mobile plants built around its patented High‑Pressure Slurry Ablation (HPSA) system, and Metals One, a critical and precious metals project developer and investor, will receive a gross product revenue stream that starts at 2.5% and scales to 4.0% in certain metal‑pricing environments, net of specified post‑treatment costs.
"We're delighted to expand our relationship with DISA to our other Colorado uranium project which represents another near-term revenue generation opportunity with no capex or cost exposure for Metals One," Daniel Maling, Managing Director, said.
Metals One acquired the Uravan Project in July 2025 and it comprises 59 unpatented mining claims covering around 490 hectares near the historic Buckhorn Mine in the Uravan Mineral Belt, where the company identified eight waste dumps and reported rock‑chip assays in September 2025 returning up to 41,768 ppm uranium (4.17%) from sample UV5.
DISA became the first recipient of a Service Providers License from the U.S. Nuclear Regulatory Commission in September 2025 and its EPA treatability study demonstrates the HPSA process can remove on average 90% of uranium and radium‑226 from waste, an approach cited as consistent with Department of the Interior Secretarial Order No. 3436 on recovering critical minerals from mine waste.
Next steps comprise a characterisation programme combining assay work and gamma‑probe surveys, with DISA due to sample sites in the coming weeks, gamma walkover data expected by the end of this month and assay results targeted by the end of the third quarter, leading to potential concentrate sales and gross revenue payments to Metals One.
