Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF) has announced the acquisition of the Umbra and Sable uranium projects in the Athabasca Basin, Saskatchewan.
The Umbra and Sable projects cover 3,680 hectares and 1,590 hectares, respectively, and were secured through cost-effective staking.
Both projects are positioned in highly prospective areas for uranium exploration and are now open for potential joint venture and earn-in agreements, Standard Uranium said in a statement.
Located 19 km west-northwest of the McArthur River Mine, the Umbra project consists of two mineral claims.
Exploration targets include electromagnetic (EM) conductors, graphitic and pelitic basement lithologies, and low resistivity zones identified through historical surveys. These features indicate a strong potential for uranium mineralization along structural trends.
The site lies along a prospective corridor that includes West McArthur drill holes reporting up to 0.29% U₃O₈.
Situated 35 km northwest of the Cigar Lake Mine and 42 km southwest of the Hurricane Deposit, the Sable project spans a single claim.
It encompasses two magnetic low zones believed to contain metasediments within folded granitic rocks. Conductors at the site extend for over 3 km and remain unexplored by drilling, presenting a compelling opportunity for future exploration.
Further, the company announced that it has completed high-resolution ground gravity surveys on its Rocas and Atlantic projects, also located in the Athabasca Basin.
Conducted by MWH Geo-Surveys (Canada), the surveys focused on known conductive structural trends, using gravity grids to detect zones of possible hydrothermal alteration, a key indicator of uranium mineralization.
The collected data, currently undergoing inversion and modeling, is expected to enhance drill targeting by providing additional vectoring layers.
Shares of Standard Uranium added 7.7% in Thursday morning trading to reach C$0.07.