Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF, FRA:9SU0) has reported geochemical assay results from its winter 2026 drill program at the Corvo uranium project in northeastern Saskatchewan, highlighting anomalous uranium, boron and other pathfinder elements across multiple target areas and outlining plans for follow-up exploration.
The 2,457-metre program, funded by project partner Aventis Energy under a three-year earn-in option agreement, comprised 10 reconnaissance drill holes targeting the Manhattan, Brooklyn and Tribeca areas. One hole was abandoned because of ground conditions, leaving nine completed drill holes.
The company said analytical results confirmed anomalous uranium in all nine completed holes, with multiple intervals containing uranium enrichment of more than 100 parts per million (ppm) in six drill holes. Calculated uranium-to-thorium ratios above 2:1 were also reported, which the company said indicate hydrothermal uranium input.
Standard Uranium said the mineralization is hosted within altered basement rocks, including paragneiss, pegmatite and granitoid orthogneiss, and is associated with hydrothermally altered fault zones and quartz-carbonate veining.
The company also reported elevated concentrations of uranium pathfinder elements, including boron values of up to 13,600 ppm in hole CRV-26-002. In addition, drill hole CRV-26-009 returned localized rare earth element intervals with total rare earth element oxides plus yttrium (TREO) exceeding 0.1%.
"We are extremely encouraged by the success of our inaugural drill program at Corvo, which marks the first drilling completed on the project since 1979," Sean Hillacre, vice-president of exploration at Standard Uranium, said in a statement.
"Intersecting uranium mineralization in multiple drill holes during the first drilling campaign is a significant achievement and a validation of our exploration model."
Hillacre added that the presence of anomalous pathfinder elements and favourable geological and structural settings "provides a strong foundation as we continue to advance Corvo through systematic exploration."
The company said it is integrating the assay results with geological logging and geophysical datasets to prioritize follow-up exploration, including additional surface work and a second phase of drilling. It said several priority uranium targets remain to be tested along more than 25 kilometres of structural strike length.
Additionally, Standard Uranium said the TSX Venture Exchange has extended the deadline for final acceptance of its previously announced non-brokered private placement to August 11 from July 11. The company said the terms of the offering remain unchanged and are subject to final regulatory approval.