Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF) said it is expanding its wholly-owned Sun Dog and Atlantic Projects as well as its portfolio of highly prospective projects by the staking of the Corvo Project, totalling 3,711 hectares, in the eastern Athabasca Basin of northern Saskatchewan.
The company now has ownership interests in seven projects, totalling over 176,969 acres across the uranium-rich Athabasca Basin with the additions of the Corvo Project, the Sun Dog and Atlantic Projects.
It added that it is seeking strategic partners to advance the projects through earn-in agreements.
“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,” Jon Bey, CEO and chairman, said in a statement.
The company also announced the appointment of Sean Hillacre as president.
“I would also like to congratulate Sean Hillacre on his new role, Sean is a valued member of our team, and he will make a great president,” added Bey.
Corvo Project
The Corvo Project covers approximately 12 kilometres of two northeast trending magnetic low/electromagnetic conductor corridors.
“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 said it believes the Corvo Project is prospective for the discovery of shallow, high-grade basement-hosted uranium mineralization.
Atlantic Project
The Atlantic project, which consists of seven mineral dispositions totalling 3,061 hectares, was acquired via staking in March 2019. It has recently been expanded by 885 hectares, covering an additional 226 metres (m) of magnetic low/EM conductor strike length.
It said that the Atlantic Project requires very little additional exploration before drill testing unconformity-related uranium target zones, adding that exploration focuses on several high-priority target areas along several kilometres of mineralized conductors.
Sun Dog Project
The Sun Dog project comprises nine mineral claims located near Uranium City, and contains the historic Gunnar uranium mine. It has been expanded by 1,502 hectares, adding an additional 6.75 km of NE-SW trending conductor strike length and additional surface uranium occurrences. Work to date is highlighted by the first drill hole at the Haven discovery, SD-23-013, which intersected 1.5 m of elevated radioactivity up to 1,300 cps associated with a strong hydrothermal alteration halo.
Davidson River Project
The company’s flagship Davidson River 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 16,561m of diamond drilling in 39 drill holes on the Davidson River property since 2020, identifying several zones of elevated uranium and clay-dravite alteration/
The company said the 2020-2022 diamond drilling programs have been encouraging, adding that the property contains several untested priority targets along the four major conductors that warrant further exploration.
Canary Project
The Canary project comprises two mineral dispositions totalling 7,303 hectares, located along the Waterfound River in the Athabasca Basin. So far, only one of the three conductive targets on the property has been tested by drilling, and results are considered highly anomalous.
The company added that exploration is still in its early stages, and the project remains highly prospective for unconformity-related and basement-hosted uranium mineralization.
Ascent Project
Standard Uranium holds a 100%-interest in the Ascent project which straddles the eastern boundary of the Athabasca Basin and which consists of a single mineral disposition totalling 3,737 hectares.
Rocas Project
The Rocas project comprises three mineral dispositions totalling 3,152 hectares. The project was acquired via staking in May 2023, and Standard Uranium holds a 100%-interest in the property.
Separately, the company noted that it will not proceed with the private placement it previously announced on May 4, 2023.
Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in the world’s richest uranium district.