Standard Uranium Ltd (CVE:STND) (OTCQB:STTDF) said Monday it plans to “quadruple” its summer drilling program at the Davidson River uranium project after seeing positive results from its winter drill session.
The firm said it will now drill up to 10,000 metres instead of the planned 2,500 metres on the 25,886-hectare property in the Athabasca region of Saskatchewan.
Drilling along the Saint trend in particular has shown positive initial results in only one hole drilled so far, according to Vancouver-based Standard Uranium.
READ: Standard Uranium begins Phase II winter drilling at its Davidson River Uranium Project in Saskatchewan
In total, the company completed seven drill holes comprising 3,020 metres of diamond drill core in the winter Phase II diamond drilling program. Six holes tested follow up targets along the Warrior corridor, and one hole tested the Saint corridor for the first time, the company told shareholders.
“Our winter drill program at Davidson systematically advanced a number of targets areas by revealing highly encouraging structural and alteration features that are unique to uranium deposits within the Southwest Athabasca,” Standard Uranium’s vice president exploration Neil McCallum said in a statement.
“Specifically, we are learning additional geological information at the Warrior trend that we will apply to the next program. The early end of the program only allowed us a small glimpse into the structure of the Saint target, and so far, the alteration is very promising. The team is looking forward to following up in the next drill program this summer.”
Due to the early onset of warmer temperatures that could cause logistical problems and to respect environmental considerations related to working in the shoulder season, Standard Uranium decided to end its winter program earlier than planned.
Aggressive program planned
Standard Uranium CEO Jon Bey told investors that he is impressed with the initial drill results, especially at Saint.
The company plans to sink over 20 additional holes.
“We have a clear vision of exploration for the Davidson River Project, and the permits and community support required to execute, we are very excited about what the future holds,” Bey said.
“The outlook for uranium is bright, and we are keen to be a part of the clean energy future through the discovery of high-grade, basement-hosted uranium at Davidson River.”
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas