Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF) announced that it has signed a definitive property option agreement with Collective Metals Inc, in which Collective Metals has been granted the option to acquire a 75% interest in the Rocas Project in Saskatchewan’s eastern Athabasca Basin region.
The uranium exploration company also said its technical team will mobilize to the Rocas Project on September 30, 2025, to undertake a detailed mapping, prospecting, and sampling program to ground-truth historical uranium showings at surface.
"We are very pleased to have executed the Rocas Option deal with our new partners at Collective Metals quickly, allowing our team to get boots on the ground before the snow flies in Saskatchewan," Standard Uranium president Sean Hillacre said in a statement.
"This inaugural program will allow us to build a comprehensive understanding of the geology across Rocas prior to a maiden drill program, in addition to ground-truthing historic uranium occurrences through scintillometer prospecting and re-sampling."
Standard Uranium noted that multiple new drill target zones have been identified on the Rocas project.
It added that ongoing geophysical interpretation and modeling are planned throughout 2025 to integrate historical results with newly collected datasets, which will provide high-priority drill targets and significantly derisk the project before modern drilling next year.
The company stated it believes the project is highly prospective for the discovery of shallow, high-grade basement-hosted uranium mineralization.
To receive its 75% interest, Collective Metals must pay C$225,000 in cash, issue C$725,000 in Collective Metals shares, and incur C$4.5 million worth of exploration expenditures over three years.