Standard Uranium is an exploration company and evaluates, acquires and develops uranium properties in Canada. Its flagship project is the Davidson River Project. The Davidson River Project is located in the heart of the Patterson Lake Uranium District (Southwest Athabasca region). It is approximately 25km to 30km to the west of Fission Uranium Corp’s Triple R deposit and NexGen Energy Ltd’s Arrow deposit.

Today, the company announced final analytical results from the phase III summer drill program at the flagship Davidson River Project. Here are the key points from the final results:

• All 2022 drill holes intersected prospective graphitic structures in basement rocks in addition to favorable alteration zones.
• Analytical results returned elevated pathfinder elements in addition to locally elevated uranium and boron content in several drill holes.
• Aggressive step-outs have confirmed the continuity of wide structural zones along the Bronco and Thunderbird conductors.
• The southeast Bronco conductor hosts some of the most prospective basement structures intersected to date.
• Several kilometres of strike length remain untested on all four conductors, with high-priority drill targets identified.
• GoldSpot Discoveries Corp. (“GoldSpot”) will be providing supplementary targeting vectors for the planned 2023 drill program through data-driven AI technology.

The phase III program comprised ten drill holes totaling 4,107.7 metres of diamond drilling. Significant structure and favorable alteration zones were intersected which has defined high priority follow up target areas for the planned 2023 summer/fall drill program.

Drill holes DR-22-033A and DR-22-037 in the Bronco Trend revealed anomalous uranium as well as significant sulphide mineralization and elevated pathfinder elements.

The southeast portion of the Bronco trend hosts some of the most prospective basement structures intersected to date at Davidson River. DR-22-036 contains multiple stacked and reactivated graphitic shears with significant evidence of hydrothermal fluid flow, while the follow up hole, DR-22-038, contains anomalous uranium as well as clay-altered graphitic shearing, indicating that the along-strike continuity of the trend opens to the south along the conductor.

The findings of this phase III summer drill program is setting the stage for the 2023 drill program to be the most exciting to date. Several high-priority drill targets have been outlined through integration of targeting vectors, which will be further supplemented by work completed by GoldSpot prior to the drill program slated to begin in June 2023.

Sean Hillacre, Vice President of Exploration, commented: “The Davidson River Project continues to deliver exciting and encouraging results with each drill program as we search for high-grade basement hosted uranium mineralization. The alteration zones and structure intersected during the 2022 drill program are just the ingredients we want to see, and we will be utilizing these promising results in concert with GoldSpot’s cutting-edge technology to continue exploring in 2023.”

For more detailed information the the ten drill holes and the geology hosted in each drill, check out the full press release here.

The stock is flat at time of writing, and over 172,000 shares have been traded.

Standard Uranium has been in a downtrend and is now in the range, or consolidation phase. This is positive for technical traders as a consolidation is a phase which tends to come before a new uptrend.

Support comes in at $0.07 (which is the previous record all time lows) and resistance comes in at $0.145. Support is an area where buyers enter and we can expect to see a wall of buyers at $0.07. For those wanting to enter on a technical breakout, we would need $0.145 to break. This triggers the end of the range and the beginning of a new uptrend.

For an earlier trigger, the $0.10 zone needs to be taken out.