Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF, FRA:9SU0) said on Wednesday it has completed drilling at its Rocas uranium project in Saskatchewan, with results from three of four reconnaissance holes showing anomalous radioactivity that the company called a strong early indicator for potential uranium mineralization.
The junior explorer drilled 962 metres across four holes at the project, located 75 kilometres southwest of the Key Lake Mine and Mill facilities along Highway 914.
Three of four drill holes returned elevated radioactivity, with the strongest reading peaking at 650 counts per second.
All four holes intersected carbon-rich rocks and sulphide mineralization across a combined 114 metres, confirming the accuracy of the company's geological model.
The program tested three target areas identified using gravity surveys, electromagnetic data, and surface sampling.
Altered rock consistent with hydrothermal activity, a key condition for uranium formation, was present throughout, including a shallow 9-metre fault zone considered a particularly promising setting for a discovery.
Geochemical assay results are pending, the company said.
"Validating our geophysical model with graphitic structure and anomalous radioactivity in three of our first four basement intersections is a fantastic outcome for this first-pass drill program," said Sean Hillacre, president and vice president exploration. "Confirming the presence of hydrothermal alteration and key structural conduits also strongly supports the potential for a significant discovery."
The Rocas project is held under a three-year earn-in option agreement with Collective Metals.
Standard Uranium and Collective Metals are planning follow-up prospecting and systematic drilling along the remaining five kilometres of the 7.5-kilometre electromagnetic corridor, with plans to expand ground gravity and electromagnetic coverage north and south of current target areas to identify additional uranium traps.