Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF) vice president of exploration Sean Hillacre spoke with Proactive about the company’s newly signed definitive agreement with Collective Metals on the Rocas project.
Hillacre explained that the agreement brings in almost $6 million in combined exploration funding and non-dilutive cash, a key milestone for the company.
He noted the speed of the deal’s progress, stating, “We announced the letter of intent, I believe last week… and begin an exploration program the next day. So that’s pretty awesome.”
The Rocas project lies in an underexplored area despite its proximity to the Key Lake Mill facilities and other uranium discoveries.
Hillacre highlighted that while historical uranium showings have been found at surface, drilling has been limited.
Standard Uranium’s team has already mobilized to the project to begin groundwork, including sampling, mapping, and scouting drill pads ahead of a first drill program in 2026.
Hillacre emphasized the company’s strength in preparation, with permits, relationships, and equipment already in place. This allows Standard Uranium to offer a “turnkey operation” to partners, enabling rapid mobilization on projects across its portfolio.
He added that this agreement underscores the company’s strategy of leveraging partnerships to fund exploration while minimizing shareholder dilution.
Proactive: Welcome back inside our Proactive newsroom. Joining me now is Sean Hillacre, he is the vice president of exploration for Standard Uranium. So we talked about this deal that you signed with Collective Metals around the Rocas project. At the time, it was just an announcement. Now it’s a definitive agreement. Can you remind everyone about the agreement and what it means?
Sean Hillacre: That’s right. We’ve executed the definitive agreement. We announced the letter of intent last week. It’s exceptional that we were able to move to a definitive agreement, get it signed, and begin an exploration program the next day. That speaks to the efficiency of what we bring to the table and our new partners at Collective. We’re excited to have boots on the ground and get this deal done.
I know you’re excited about this Rocas project. Do you feel there’s some real positivity with it?
Absolutely. This is an underexplored area, which is surprising given its proximity to the Key Lake Mill facilities and other discoveries. There’s a lot of historical uranium showings at surface, but very little drilling in this area, even though Highway 914 goes right next to the project. We’re already doing groundwork. Our team went up yesterday to carry out the first exploration program, ground truthing uranium showings, taking measurements, and scouting drill pads for next year. This work will generate news flow before winter sets in and prepare us for a first drill program in 2026.
Is this a good example of the preparation work your team does across your portfolio?
Exactly. We’ve built a strong in-house team of geologists. We monitor staking opportunities and have built a solid portfolio across the basin. What sets us apart is our ability to provide a turnkey operation for partners. We have the team, equipment, permits, and relationships with First Nations and the government. That means partners can step in, and we can mobilize immediately. This Rocas deal may even set a record for how quickly we got going. It brings almost $6 million in exploration funding and non-dilutive cash into the company. We’re excited to move it forward with Collective Metals.