Standard Uranium stakes Corvo project, updates projects, Saskatchewan
Standard Uranium Ltd. [STND-TSXV; STTDF-OTCQB; 9SU-FSE] has appointed Sean Hillacre as president. The company has provided a corporate update on its exploration projects, including the expansion of the 100%-owned Sun Dog an’ Atlantic projects and the expansion of the company’s portfolio of highly prospective projects by the staking of the Corvo project, totalling 3,711 hectares, in the eastern Athabasca basin of Northern Saskatchewan.
Jon Bey, CEO and Chairman, commented, “This summer has been challenging for many uranium junior exploration companies and investors. I believe we are going to see a much stronger second half of this year and our team has been quietly building our portfolio of projects and working on completing joint venture deals with new partners.”
With the addition of the Corvo Project and expansion of the Sun Dog and Atlantic Projects, the company now has ownership interests in seven projects, totalling over 176,969 acres across the uranium-rich Athabasca Basin. The company continues to expand its set of high-potential assets across the Athabasca Basin.
The company is seeking strategic partners to advance the projects through earn-in agreements that provide upside to shareholders through ongoing exploration and future discovery.
The Corvo Project is situated 1.5 km outside the current margin of the Athabasca Basin, approximately 50 km southwest of Rabbit Lake mill facilities and 45 km northeast of the Gemini Mineralized Zone.
The Corvo Project covers approximately 12 km of two northeast trending magnetic low/electromagnetic (EM) conductor corridors. Data compilation by the company is underway to identify target areas for high-grade uranium mineralization The project will benefit from additional surface sampling and geophysical surveys to aid in drill target vectoring.
“As our technical team continues to expand our strategic land holdings in the Basin, the Corvo Project provides another opportunity for the company to create value for shareholders through exploration of shallow targets for high-grade uranium,” said Sean Hillacre, President and VP Exploration. “Located just outside the present-day Basin margin along Highway 905, the logistics and geological setting of Corvo are ideal for discovery of an accessible and economic uranium deposit.”
The company considers uranium mineralization with concentrations greater than 1.0% wt U3O8 to be high-grade.
The Atlantic project consists of seven mineral dispositions totalling 3,061 hectares, strategically located due west of IsoEnergy’s Hurricane Deposit. The project was acquired via staking in March 2019, and Standard Uranium holds a 100%-interest in the property. Atlantic has recently been expanded by 885 hectares, covering an additional 226 m of magnetic low/EM conductor strike length.
Standard Uranium holds a 100% interest in the 19,604-hectare Sun Dog project along the northwestern edge of the Athabasca Basin. The Sun Dog project is comprised of nine mineral claims located near Uranium City, and contains the historic Gunnar uranium mine in the Beaverlodge district where uranium was mined between 1953 and 1982.
Davidson River is Standard Uranium’s flagship property, located in the southwest Athabasca uranium district of the Athabasca Basin and encapsulates the inferred extension of the structural trend that hosts Fission Uranium’s Triple R deposit and NexGen Energy’s Arrow deposit. The project consists of 10 contiguous mineral dispositions totaling 30,737 hectares and lies approximately 25 to 30 km west of Arrow and Triple R, and 75 km south of the past producing Cluff Lake uranium mines.
The company has completed 16,561 metres of diamond drilling in 39 drill holes on the Davidson River property since 2020, which has identified several zones of elevated uranium and clay-dravite alteration.
The Canary project comprises two mineral dispositions totalling 7,303 hectares, located along the Waterfound River in the Athabasca Basin. The project was acquired via staking in July 2020, and Standard Uranium holds a 100%-interest in the property.
Standard Uranium holds a 100%-interest in the Ascent project which straddles the eastern boundary of the Athabasca Basin. The project consists of a single mineral disposition totalling 3,737 hectares.
Regional prospecting by historical operators identified uranium enrichment in basement rocks located east of the Athabasca Basin edge, which support the exploration model for shallow sandstone and basement hosted uranium on the property.
The Rocas project comprises 3 mineral dispositions totalling 3,152 hectares, located 75 km southwest of the Key Lake Mine and Mill facilities along Highway 914, and approximately 72 km south of the present-day margin of the Athabasca Basin. The project was acquired via staking in May 2023, and Standard Uranium holds a 100%-interest in the property.
The project covers 5.5 km of a northeast trending magnetic low/electromagnetic (EM) conductor corridor which hosts several uranium anomalies, including historical mineralized outcrop grab samples along approximately 900 metres of strike length, grading up to 0.50% wt. U3O8.
Standard Uranium holds interest in over 176,969 acres (71,617 hectares) in the Athabasca Basin.