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 summary of analytical results from the inaugural winter 2024 drill program at its 3,061-hectare Atlantic Project highlighting uranium mineralization in multiple drill holes. Atlantic is situated in the prolific eastern Athabasca Basin, northern Saskatchewan.
The Project is currently under option to ATCO Mining Inc. Pursuant to the Option, the Optionee can earn a 75% interest in Atlantic over three years. The Optionee-funded winter 2024 drill program contributes to satisfying the first year of minimum exploration expenditures required by the Option.
“Confirming uranium mineralization and dravite alteration in multiple holes from our inaugural drill program at Atlantic is a fantastic first result. In addition, highly anomalous pathfinder elements coupled with the presence of a significant structural framework on the property provides the ideal conditions for high-grade unconformity-related uranium mineralization to follow up on,” said Sean Hillacre, Standard Uranium’s VP of Exploration. “The scale and intensity of deformation in the basement rocks paired with strong alteration in the sandstone is highly prospective and we are just beginning to reveal the compelling uranium story along this 18 km-long trend next door to one of the highest-grade uranium deposits in the world.”
The Atlantic Project covers 6.5 km of an 18 km long, east-west trending conductive exploration trend which hosts numerous uranium occurrences. The Company completed a high-resolution ground gravity survey on the western claim block in 2022, revealing multiple subsurface density anomalies, potentially representing significant hydrothermal alteration zones in the sandstone rooted to basement conductors.
The Atlantic project boasts all the key characteristics to host a high-grade unconformity-related uranium deposit, and the results of the inaugural drill program on the project have strengthened the validity of the exploration thesis on the Project. Follow up targets are being planned as geological data from the winter 2024 program continues to be processed and interpreted.
The winter 2024 drill program comprised 3,316 metres of diamond drilling across 5 drill holes. Inaugural drilling intersected the key characteristics of a uranium-bearing mineralized system in previously untested “Target Area A”, confirming the presence of a significant graphitic fault system in the basement rock linked to uranium mineralization and prospective hydrothermal alteration at the unconformity and in the basement rock.
The drill program was designed to follow up on highly anomalous uranium results returned from drill hole BL-16-32, in addition to testing the newly outlined gravity lows defined by the 2022 ground survey. On the western Atlantic claim block, drilling by Denison Mines in 2016 (Hole BL-16-32) identified 342 ppm uranium over 0.5 metres at the base of the sandstone, just north of Target Area A.
Winter drilling was focused in Target Area A which is defined by a 1,400-metre x 850-metre density-low anomaly coinciding with stacked EM conductors and an interpreted regional fault.
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