ATHA Energy Corp (CSE:SASK, OTCQB:SASKF) said it has completed equipment and supply mobilization to the Angilak project located in Nunavut, Canada.
The mobilization effort included the delivery of two state-of-the-art X10 Diamond Drills, which are designed to enhance daily meterage production compared to previous drilling campaigns at Angilak, ATHA said in a statement.
Scheduled to start a Phase I diamond drilling program in early June 2024, ATHA Energy has also finalized a service agreement with Base Diamond Drilling, a renowned operator with extensive experience in Canada's northern regions and uranium-rich Athabasca Basin.
Angilak, wholly owned by ATHA Energy, hosts the Lac 50 uranium deposit, one of the largest high-grade deposits outside of the Athabasca Basin. The project boasts a historical mineral resource estimate of 43.3 million pounds at an average grade of 0.69% U3O8.
The 2024 exploration program at Angilak is poised to advance geological understanding and delineate additional mineral resources, building upon the groundwork laid by Latitude Uranium, which was acquired by ATHA Energy in late 2023.
Phase I of the program will feature a nearly 10,000-meter diamond drilling campaign targeting the expansion of the Lac 50 Deposit, which remains open in all directions.
Phase II of the exploration program will encompass geophysical surveys, including electromagnetic, magnetic, and VLF surveys, alongside ground geochemistry sampling and mapping.