Standard Uranium (STND.V) is a junior uranium explorer operating in the Athabasca basin in Saskatchewan, Canada. The Company holds interest in over 209,867 acres in the world’s richest uranium district.
Today Standard Uranium announced a comprehensive summary of exploration insights and historical data gathered at its Sun Dog Uranium Project which is currently under a three-year earn-in option agreement with Aero Energy Ltd.
Highlights:
- History of Production: The project hosts the historical Gunnar Mine which produced 18M pounds of U3O8 between 1953 and 1981 and was formerly the world’s largest uranium producer1,2.
- Uranium Above and Below the Unconformity: Numerous historical high-grade* uranium showings ranging between 0.10% and 12.39% U3O8 have been documented at surface3,4. These showings occur in both basement rocks below the Unconformity and perched within Athabasca sandstones above the Unconformity thus confirming the presence of unconformity-related high-grade uranium on the Sun Dog Project.
- Radioactivity at the Unconformity: Prospecting conducted by Standard Uranium has identified anomalous** to strong radioactivity ranging between 500 cps and >65,535 cps immediately associated with sandstone and basement faults, and along the surface expression of the Unconformity at multiple target areas providing further compelling support for the high prospectivity of the Sun Dog Project.
- Favorable Host Rocks: An airborne VTEM™ Plus survey is currently underway designed to pinpoint graphitic rocks (conductors) favourable for hosting significant concentrations of uranium. This modern electromagnetic (“EM”) survey will infill and improve upon historical surveys which have identified at least 40 km of combined conductor strike length.
- Target Development & Drilling: The results of the VTEM™ Plus survey will be subject to geophysical interpretation and modelling, and integrated with the Project’s existing datasets, to select and prioritize targets for the upcoming summer drill program scheduled to begin in early June.
Jon Bey, CEO of Standard Uranium, commented: “We are thrilled to return to the Sun Dog Project and continue advancing our exploration strategy targeting prospective high-grade uranium targets. The 2024 exploration program will leverage the results of the modern VTEM™ Plus survey currently underway, in addition to the combined uranium expertise of our joint technical team with partners at Aero Energy. The summer of 2024 will be an exciting time for active exploration in the Uranium City region and we are eager to get our drills spinning.”Galen McNamara, CEO of Aero Energy, commented: “The Sun Dog Project is highly prospective for shallow high-grade uranium mineralization and is largely underexplored. The VTEM™ Plus survey covering both the Sun Dog and Murmac projects is nearing completion, and we expect the results to identify a significant number of high-priority drill targets for follow-up during our planned drill program scheduled to begin in early June. We look forward to sharing target information more specifically in the coming weeks as we advance towards our maiden drilling program”.
In the fall of 2020, crews collected 56 outcrop grab samples, 6 boulder samples, and 14 historical core samples from the Project. These were primarily collected from mineralized target areas and from historical drill holes completed by former operators of the project.
Prospecting led to the discovery of a new high-grade uranium showing named the Haven discovery and several zones of visible uranium mineralization at surface that returned uranium assay results of 3.58% U3O8, 1.7% U3O8, and 0.7% U3O8.
Standard Uranium carried out two drill programs on the Project during the winters of 2022 and 2023. In total 2,469 m of diamond drilling was completed across fourteen drill holes.
Drilling focused on testing for zones of high-grade unconformity-related uranium mineralization with targets identified based on the ground gravity and UAV magnetic data, lakebed radiometric anomalies, and resistivity lows, all coincident with cross-cutting faults and historical surface mineralization. Several gravity low anomalies have been identified and coincide with breaks or flexures in electromagnetic conductors under Athabasca sandstone cover, interpreted to potentially represent zones of strong alteration in bedrock, specifically clay alteration, commonly associated with the footprint of high-grade uranium deposits.
Drilling highlights include:
- Widespread hydrothermal alteration zones containing illite-rich and dravitic clays and abundant iron-oxide minerals intersected in multiple drill holes, indicating a robust fluid system with prospective chemistry for uranium.
- Significant structural influence evidenced to control high-grade uranium mineralization and anomalous radioactivity in drill holes.
- Reactivated graphitic shear zones & quartz-hematite breccias intersected over 10s of metres in several drill holes indicate ideal structural regime providing the plumbing system for uranium mobilization.
- Favorable geochemistry returned in multiple drill holes, including prospective clay spectroscopy results (dravite), elevated pathfinder elements, and anomalous uranium correlated to lead isotope ratios which may be used as an additional exploration vector.
- Elevated radioactivity over a total of 1.5 metres up to 1,300 cps*** intersected in drill hole SD-23-013 at the Haven discovery. Assay highlights include 0.042 wt.% U308 from 79.0 to 79.5 m and 0.021 wt.% U308 from 79.5 to 80.0 m.
The chart set up is still showing market structure of a cup and handle reversal pattern. The trigger remains a daily candle close above the $0.09 zone. So far, this zone remains resistance and sellers have stepped in to defend this zone. The stock recently found support at the $0.06 zone which has held for multiple days with a range. Unfortunately, today’s price action is indicating that we are likely to be breaking below the $0.06 zone. If so, another support around $0.045 is coming.
