ATHA Energy Corp (CSE:SASK, OTCQB:SASKF), a leading uranium exploration company with a significant presence in two of the world's highest-grade uranium districts, has unveiled its comprehensive exploration plans for 2024.
The company's 2024 exploration program is set to be its most significant to date, focusing on the Angilak project in Nunavut and the advancement of its portfolio in the Athabasca Basin, among other key initiatives.
ATHA's Angilak project boasts the Lac 50 uranium deposit, one of the largest high-grade deposits outside of the Athabasca Basin, with a historical mineral resource estimate of 43.3 million pounds at an average grade of 0.69% U3O8.
The 2024 exploration program at Angilak will include diamond drilling targeting expansion of the Lac 50 deposit and testing of high-priority targets on parallel structures, as well as airborne geophysical surveys aimed at identifying additional high-priority targets for future exploration.
The Athabasca Basin program will see ATHA further advance and develop nine of its wholly-owned projects within four exploration districts. The program aims to refine prospective trends and corridors within these districts and is already underway, scheduled to continue through the end of 3Q 2024.
The program includes seven different airborne and ground survey types, such as electromagnetic (EM), magnetic (Mag), gravity, and Ambient Noise Tomography (ANT), designed to delineate drill-ready targets for future exploration campaigns.
Troy Boisjoli, ATHA’s CEO, highlighted the significant potential for expanding uranium deposits in Nunavut and within the Athabasca Basin.
“Our objective through 2024 is to continue to advance and develop our uranium assets within the world’s most prospective, highest grade uranium jurisdictions,” Boisjoli told shareholders.
Cliff Revering, ATHA’s vice president of exploration, emphasized the company's commitment to defining the next generation of world-class uranium assets through its extensive exploration initiatives.
“ATHA has a unique opportunity to leverage a strong balance sheet to invest at scale in a large number of early-stage exploration projects, while also providing significant exploration upside through advancement of our known uranium deposits and discoveries,” he said in a statement.
Meanwhile, ATHA's proposed transaction with 92 Energy, expected to close by April 11, will further enhance its exploration efforts. Upon completion of the transaction, ATHA will prioritize the development of 92 Energy's portfolio, particularly the Gemini project, which hosts the high-grade GMZ Corridor.