Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF) is set to begin a diamond drilling program at its Sun Dog uranium project this summer, leveraging new geophysical data to target high-grade uranium deposits.
Updating on its 2024 exploration plans for the project, currently under a three-year earn-in option agreement with Aero Energy Ltd, the company told shareholders that a diamond drilling program is set for summer 2024.
The program will be funded by Aero and targeting high-grade uranium.
Targets for the upcoming drilling program are being finalized, following the interpretation of data from a VTEM Plus survey integrated with resistivity and gravity datasets. The survey has identified 40 km of combined conductor strike length, focusing on deformed graphitic rocks favorable for uranium concentrations.
"We are excited to get back to Uranium City and begin our follow-up exploration and drilling at our Sun Dog project,” Jon Bey, CEO of Standard Uranium said in a statement.
“We have been advancing this project for two years and recently added additional geophysical data to assist with our drill targeting.”
The project has received a three-year exploration permit, covering the entire option term with Aero, and an Exploration Agreement with Ya' Thi Néné Lands and Resources. Key vendors, including Team Drilling LP, are secured, with crews transitioning from the neighboring Murmac project.
Numerous historical high-grade uranium showings, ranging from 0.10% to 17.4% U3O8, have been documented on the project, which hosts the historical Gunnar Mine, which produced 18 million pounds of U3O8 over close to 30 years.