Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF) announced that it has completed its spring/summer drill program at its flagship Davidson River uranium project in Saskatchewan, Canada, ahead of schedule and under budget, with the program finding intersections of elevated radioactivity.
The company said its 4,107.7 metre, 10-hole drill program had followed up on prospective structures and alteration intersected during previous programs and tested brand new target areas.
Highlights from the drill program include intersects of elevated radioactivity and significant lithological signatures of a basement-hosted uranium-bearing system and the identification of highly deformed and graphitic structural zones as new priority follow-up targets along the Thunderbird and Bronco trends.
READ: Standard Uranium closes second tranche of $3.6M private placement to fund exploration of its Davidson River project
Priority follow-up targets are being planned and are scheduled to be drilled in 2023, Standard Uranium said.
“Davidson River contains significant blue-sky potential to make a high-grade, basement-hosted uranium discovery,” the company said.
Standard Uranium CEO Jon Bey said the company’s technical team had been very successful in hitting targets that reveal the ideal geological environment for uranium mineralization, leading them to believe they were "getting closer to a major discovery".
“While identifying high-quality drill targets below extensive cover, we recognize drilling on the Davidson River project is very complex and I would like to congratulate the Base Diamond Drilling team for delivering drilling results that exceeded our expectations and completing the program ahead of schedule and under budget,” Bey said in a statement.
“We look forward to again working with the Base team for our 2023 drill programs as we continue to hone in on a high-grade basement-hosted deposit," he added.
Further, the company announced that it had engaged GoldSpot Discoveries Corp to develop new and advanced drill targets on all five of the company’s projects.
GoldSpot CEO Vincent Dube-Bourgeois said the company was excited to partner with Standard Uranium in the current global climate where the benefits of nuclear energy had never been clearer.
“Our senior staff bring years of Athabasca-based uranium exploration experience and the combination of that expertise, and our machine learning targeting makes this a very exciting opportunity,” he said. “We look forward to the long-term partnership with Standard Uranium and working together on both on asset-specific and regional scale uranium targeting.”
Based in Vancouver, Standard Uranium is a mineral resource company focused on the identification and development of prospective exploration stage uranium projects in the Athabasca Basin in Saskatchewan, Canada.
Contact the author Emily Jarvie at emily.jarvie@proactiveinvestors.com
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