Standard Uranium (STND.V) is a junior uranium explorer operating in the Athabasca basin in Saskatchewan, Canada. The Company holds interest in over 196,300 acres in the world’s richest uranium district.
Today, Standard Uranium announced the acquisition by staking of three new 100% owned uranium exploration properties in the Athabasca Basin region, northern Saskatchewan.
With the addition of the Cable Bay Southwest (“CBSW”), Ox Lake, and Brown Lake Projects, the Company now has ownership interests in ten projects, totalling over 196,300 acres across the uranium-rich Athabasca Basin. With three earn-in option agreements completed since expanding the Company’s business strategy to include project generation in addition to pure exploration strategies, the Company continues to seek strategic partners to advance non-core projects, including these newly acquired assets.
The CBSW project comprises two mineral claims totalling 3,158 ha and is approximately 18 km south of the present-day margin of the Athabasca Basin. The project covers 8.6 km of the northeast trending Cable Bay Shear Zone (“CBSZ”), a major structural discontinuity which is host to several uranium occurrences proximate to and along strike of the structural corridor on the property.
The Ox Lake Project consists of one mineral claim totaling 397.5 ha, situated 3 km southeast of the Athabasca Basin margin, 45 kilometres southeast of McArther River Mine, and 19.5 km northeast of the Gemini Mineralized Zone (“GMZ”) and the ACKIO uranium discovery.
The Brown Lake Project consists of one mineral claim totalling 312 ha, situated near the southeastern margin of the Athabasca Basin, 13 kilometers northwest of the Key Lake Mill facilities.
“The acquisition of these new properties, further increasing our land holdings to ten projects, provides Standard Uranium shareholders with increased exposure to transactional and discovery upside,” said Sean Hillacre, President & VP Exploration for the Company. “This is yet another example of our technical team continuing to identify areas with shallow drill targets and favorable geology for uranium discovery, and we look forward to what we will be able to do with these claims in 2024.”
Standard Uranium just confirmed a major breakout by closing above a major trendline which has acted as resistance. There was no momentum on the breakout and the stock fell back below the trendline. It has once again broken back above this trendline.
But clearly, the major resistance now comes in at $0.08. The stock needs a strong close above this level to confirm a move to the $0.10 zone. A breakout above $0.10 would see the stock hit $0.15.
