ATHA Energy Corp (TSX-V:SASK, OTCQB:SASKF) earlier this week provided updates on its Angilak uranium project following a significant 10,000-meter drill program. The company told investors the program, which included 25 step-out holes, aimed to expand the current resource of 43 million pounds at 0.69% U3O8.
Atha Energy said the updated exploration model now projects potential growth to a range of 60 to 98 million pounds of uranium. This is supported by assay results from step-out drilling along the LAC 50 trend and new growth opportunities identified in parallel structures such as Lac 48, Lac 52, and Lac 54.
The company highlighted that this progress de-risks future exploration and enables predictive resource modeling. “The growth potential on this project is very strong, and the work we did this year took us a long way to de-risking that growth phase,” CEO Troy Boisjoli noted.
Atha Energy also pointed to further exploration potential in the Mushroom Lake area, a three-kilometer-long target that has yet to see drilling. Boisjoli emphasized the company’s commitment to advancing its asset portfolio aggressively, describing the current uranium market as a "generational opportunity."
The company plans to finalize its 2025 exploration strategy based on data from the current program, with drilling rigs and other resources already in place at Angilak.