ATHA Energy Corp (CSE:SASK, OTCQB:SASKF) has commenced Phase I of its 2024 exploration program at its Angilak Project in Nunavut.
The program involves around 10,000 meters of diamond drilling, targeting the expansion of high-grade uranium mineralization at the Lac 50 Deposit and adjacent zones.
The Lac 50 Uranium Deposit is one of the largest high-grade deposits outside the Athabasca Basin, with a historical resource estimate of 43.3 million pounds at an average grade of 0.69% U3O8.
New diamond drills have been assembled, capable of testing depths of 2,000 meters, doubling the meterage rates compared to 2023.
Phase II, scheduled to begin in August, will include targeted airborne geophysics and ground geochemistry to identify and derisk additional high-priority targets.
Chief executive Troy Boisjoli stated: "On top of being one of the largest, high-grade deposits outside the Athabasca Basin, our team believes the unexplored potential of the Angilak Project – and the region at large – make it one of the most attractive uranium exploration opportunities in the entire uranium sector."
VP of exploration Cliff Revering added: "We are very excited to see the 2024 exploration and drilling campaign underway at our most advanced uranium Project.
“Significant work has been completed since the beginning of 2024 to develop a better understanding of the mineralization controls and potential of the Angilak Project, and we’re looking forward to evaluating the potential of this mineralized system."