Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF) is adding to its property portfolio with three new 100%-owned uranium exploration properties in the Athabasca Basin.
With the addition of Cable Bay Southwest, Ox Lake, and Brown Lake projects, Standard Uranium now holds ownership interests in 10 projects, spanning over 196,300 acres in the uranium-rich Athabasca Basin.
The Cable Bay SW project covers 3,158 hectares, positioned approximately 18 kilometers south of the present-day margin of the Athabasca Basin. This project comprises two mineral claims strategically focused on the northeast trending Cable Bay Shear Zone.
The Ox Lake project consists of a single mineral claim covering a total area of 397.5 hectares, situated three kilometers southeast of the Athabasca Basin margin. Notably, it is characterized by a regional northeast-trending magnetic low/EM corridor, showcasing significant structural influence on uranium mineralization. As well, the project is in close proximity to the McArther River mine and the ACKIO uranium discovery, Standard Uranium noted.
The Brown Lake project encompasses one mineral claim totaling 312 hectares and is strategically located near the southeastern margin of the Athabasca Basin. This project hosts 2.4 kilometers of an untested magnetic low/fault trend, positioned four kilometers southwest along the strike of the Shift Lake Uranium Zone. Its close proximity to the Key Lake Mill facilities and the infrastructure-rich eastern Athabasca Basin enhances its strategic significance, according to the company.
“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 at Standard Uranium. “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.”
Neil McCallum, the company’s lead technical director, told shareholders that the properties all have “significant exploration merit” that it hopes to unlock through either Standard’s own funding or option deals.