Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF) has formed a strategic partnership with Fleet Space Technologies Canada to enhance uranium exploration at its Davidson River project in Saskatchewan’s southwest Athabasca Basin.
The company said it will use Fleet Space’s ExoSphere Multiphysics surveys — a combination of real-time 3D ambient noise tomography and ground gravity data — to refine drill targets and improve the odds of discovering high-grade uranium deposits.
“We believe that Fleet Space's real-time geophysical capabilities and industry leading expertise in data-driven exploration will enable us to accelerate our progress with deployment of their Exosphere Multiphysics technology as a vital step on the path to discovery,” said Jon Bey, CEO of Standard Uranium.
The surveys, scheduled for spring 2025, will focus on the Warrior, Bronco, and Thunderbird conductor corridors. The integration of new subsurface data aims to de-risk high-priority target zones by mapping basement structures and potential alteration zones often linked with uranium mineralization.
“These surveys will be the first of their kind in the southwest Athabasca Basin uranium district,” said Sean Hillacre, Standard Uranium’s president and vice president of exploration.
Fleet Space’s ExoSphere platform is designed to reduce uncertainty in exploration by providing real-time insights and faster decision-making.
Federico Tata Nardini, chief financial and investment strategy officer at Fleet Space, said the collaboration reflects a shared commitment to building sustainable mineral supply chains for the clean energy transition.
As part of the agreement, Standard Uranium will also settle C$525,000 in debt owed to Fleet Space and its affiliate through the issuance of 7 million common shares at a deemed price of C$0.075 per share, representing a 2.3% discount to the 30-day VWAP. Following the transaction, Fleet would own about 11% of Standard Uranium’s outstanding shares, making it an insider, the company said.