Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF) has announced that exploration activities have commenced on the company’s Sun Dog Project, located in the northwestern Athabasca Basin, Saskatchewan.
The company said high-resolution geophysical surveys are currently underway on the project, with its team and drill crews scheduled to mobilize in three weeks.
The project is comprised of six mineral claims over 15,770 hectares and is highly prospective for basement-hosted and unconformity-related uranium deposits.
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Inaugural Sun Dog Drill Program Summary:
- High-resolution ground gravity and UAV magnetic surveys will refine specific drill targets;
- Approximately 3,000 metres in ten diamond drill holes planned, subject to weather and ice conditions, to follow up on known high-grade* uranium mineralization;
- Drilling to commence first week of March 2022;
- Inaugural drilling by Standard Uranium at the Skye, Haven, and Java target areas;
- Exploring several kilometres of graphitic conductors coincident with cross-cutting faults and historical surface and drillhole intersections of high-grade uranium mineralization;
- Efficiently testing down-dip extensions of structures hosting mineralization at surface with the aim of discovering high-grade basement “roots” of the mineralizing systems underlying the Athabasca sandstones.
High-resolution ground gravity and UAV magnetic surveys are currently proceeding over Sun Dog target areas which will further refine existing high-priority drill targets, the company said.
The ice road access to the Project is presently underway, and Standard Uranium geologists and drill crews are slated to mobilize to site the last week of February 2022, with drilling commencing the first week of March, it added.
The Sun Dog Project boasts all the favorable characteristics to host an Athabasca-style unconformity-related uranium deposit, and despite positive historical results, it has not been drill tested in 14 years. The company aims to breathe new life into the Uranium City area through exploration for high-grade basement- and sandstone-hosted uranium using modern techniques and geological understanding.
Appointment of Sean McGrath as president
Standard Uranium also announced that Sean McGrath has been appointed president of the company, effective February 7, 2022. He will be working alongside Standard Uranium’s CEO Jon Bey as the company advances its uranium projects in the prolific Athabasca Basin in Saskatchewan.
McGrath has extensive experience as a mining executive over a 25-year career that includes both exploration stage and producing mining companies. He holds a Bachelor of Commerce (Hons) degree from Memorial University of Newfoundland and is Chartered Professional Accountant.
In his role as president, McGrath will work closely with the CEO supporting him in the company's financing and strategic activities on a day-to-day basis.
In a statement, Bey commented “We are thrilled that Sean has agreed to bring his experience to Standard Uranium as our new President. With a background in the resource sector and capital markets, he is a great fit for Standard Uranium in our exploration and growth stage. I look forward to working closely with him as we continue to unlock value for Standard Uranium shareholders.”
Standard Uranium also announced that, under its Stock Option Plan, it has granted stock options to certain directors, management, and consultants to purchase an aggregate of 2,860,000 common shares of the company at the price of $0.20 per share for a period of 5 years from the grant date. The options will vest immediately upon grant.
Contact the author at jon.hopkins@proactiveinvestors.com