Standard Uranium Ltd. (“
Standard Uranium” or the
“
Company”) (TSX-V: STND) (OTCQB: STTDF)
(Frankfurt: FWB:9SU) is pleased to announce its exploration plans
for 2024, comprising multiple targeted exploration programs to
continue advancing its uranium projects in the Athabasca Basin (the
“
Basin”), Saskatchewan, Canada towards discovery.
The Company holds nearly 200,000 acres of prime
exploration real estate comprising eight projects across the
prolific Athabasca Basin, which hosts the world’s highest grade
uranium deposits (Figure 1). The Company boasts multiple turnkey,
drill-ready projects across the Basin, with permits in hand, First
Nations agreements signed, vendors secured, and highly prospective
uranium targets.
2024 Exploration Objectives
- Plan and operate
at minimum, three drill programs on three projects across the
Basin, two of which will be partner-funded and provide operator
fees to the Company.
- Complete initial
exploration and geophysical programs on the newly acquired Rocas
and Corvo projects.
- Execute
inaugural drill campaign(s) on Canary, Ascent, and Atlantic
projects, ripe for discovery with untested targets.
- Complete
definitive option agreement(s) on one or more additional projects,
securing exploration expenditures and non-dilutive cash-flow into
the Company – Ascent project term sheet signed January 9.
- 2024 will be the
most ambitious year of exploration activities for the Company to
date (Figure 2). The Company is well underway on preparations for
drill campaigns, in addition to planning inaugural reconnaissance
exploration on the Rocas and Corvo projects.
Jon Bey, CEO and Chairman of the Company,
stated: “2024 will be the Company’s most comprehensive and exciting
exploration season to date. We strongly believe the uranium market
will be one of the few bright spots in the investment landscape and
we are planning to apply a modern approach to historical data and
deploy more advanced analysis techniques in the upcoming drill
campaigns. We have our projects ready for drilling with our First
Nations agreements in place, drill permits in hand, and our vendors
contracted. With the uranium spot price breaking the $100/lb
barrier yesterday, the timing is fantastic to be embarking on
multiple drill programs as new investors enter the uranium
trade.”
Figure 1. Overview of the Athabasca Basin,
highlighting Standard Uranium’s projects.
Davidson River Project
In 2023, the Company expanded its flagship
Davidson River project (“Davidson River”) in the
southwest corner of the Basin to cover more than 37,700 hectares.
Standard Uranium plans to follow up on prospective drilling results
from 2022 and test brand new high-priority targets akin to the
neighboring JR Zone discovery within the new southeast claim
blocks.
- Drilling in H2
2024 will comprise a follow-up campaign on Davidson River, located
in the southwestern corner of the Basin.
- The summer 2022
program revealed the best intersections of prospective alteration
and structure to date along the Bronco and Thunderbird trends,
including wide graphitic structural zones on
Bronco and oxidized alteration on Thunderbird, in addition to
elevated radioactivity and dravite
alteration.
- 2024 drilling
will follow up on the most prospective basement structures and
alteration zones intersected to date and begin testing new target
areas within recently staked claim blocks.
- Data-driven
machine learning techniques will contribute to drill targeting at
Davidson River through anomaly detection and mapping of
electromagnetic (EM) data, in addition to anomaly matching based on
known world-class uranium deposits in the area including the Arrow
and Triple-R deposits. The machine learning techniques will also be
applied to the Company’s internal drilling and geochemical
databases.
- Several
kilometres of graphitic conductors remain to be tested at Davidson
River, with Davidson River still containing massive blue-sky
potential for high-grade discovery.
Sun Dog Project
The Company’s Sun Dog project (“Sun
Dog”) has recently been optioned into a three-year earn in
deal with Angold Resources Ltd. (“Angold”) and
incorporated into one of the largest land holdings in the Uranium
City area. A drill program funded by Angold is planned for H1 2024
to satisfy the year-one expenditure requirements, which will be
operated for a fee by the Company.
- Drilling will
focus on land-based targets, with ice targets contingent on weather
conditions. Targets are focused along the off-scale Haven trend,
Skye and Java target areas, Mitchell Island, and along strike of
the Gunnar mine:
- Perched
high-grade uranium mineralization present at surface on Sun Dog
will be properly tested at depth, and the Company aims to discover
the high-grade “roots” of these mineralizing systems in the
basement rocks underlying the Athabasca sandstones.
- The 2024 drill
program is planned to follow up on the drilling conducted in 2022
& 2023, including intersections of dravite and illite/kaolinite
clays, reactivated graphitic structures, hydrothermal brecciation,
and anomalous uranium.
Canary Project
In addition to programs along the north- and
southwest rims of the Basin, the Company has struck a definitive
option agreement with Mamba Exploration Ltd.
(“Mamba”) on its east side Canary project
(“Canary”), 11km north of the high-grade Hurricane
uranium deposit. The three-year earn-in deal stipulates Mamba to
fund $6M in exploration expenditures during the earn-in period,
with the inaugural drill program planned for spring 2024.
- Mamba will fund
the inaugural drill program at Canary on the east side of the Basin
in H1 2024.
- Drill targets
are being prioritized on the Canary claims based on historic
exploration and geophysical surveys completed in 2022. An inaugural
spring 2024 drill program of approximately three to four drill
holes is planned on Canary to ground truth historic uranium
intersections and test new resistivity targets along strike.
Ascent Project
An inaugural drill program at the Company’s
Ascent project (“Ascent”), is being planned for H1
2024. The Company has signed a Term Sheet on January 9, 2024 with
Summit Fusion Pty. Ltd. (“Summit Fusion”) on its
3,737-hectare, east side Ascent project. The three-year earn-in
deal stipulates Summit Fusion to fund $6M in exploration
expenditures during the earn-in period, with the inaugural $1M
drill program planned for spring 2024.
- Summit Fusion
will fund the inaugural $1M drill program at Ascent on the east
side of the Basin in H1 2024.
- Drill targets
are being prioritized on the Ascent claims based on historic
exploration and geophysical surveys completed in 2022. An inaugural
spring 2024 drill program of approximately three to four drill
holes is planned on Ascent to ground truth historic uranium
intersections and test new resistivity targets along strike.
- The Company
completed a high-resolution airborne TDEM survey on the project in
2022, bolstering the historical EM corridors which identified
significant structural disruptions presenting prime targets for
uranium mineralization.
Atlantic Project
An inaugural drill program at the Company’s
Atlantic project (“Atlantic”), is being planned
for H2 2024, dependent on funding and/or execution of definitive
option agreements with potential joint venture
(“JV”) partners. Standard Uranium is well underway
in JV discussions to unlock the potential for discovery at Atlantic
in 2024.
Rocas & Corvo Projects
Boots-on-the-ground mapping, prospecting, and
sampling programs are being planned on the Rocas and Corvo
projects, contemporaneous with high-resolution geophysical surveys
assisting in the development robust, shallow drill targets.
- Ground-truth
sample historical uranium showings at surface on both
projects.
- Upgrade EM data
on Corvo through high-resolution airborne survey, collecting EM,
magnetic, radiometric, and density (gravity) data
simultaneously.
- Refine main EM
corridor on the Rocas project through targeted 3D resistivity
grids.
Figure 2. Timeline of Standard Uranium’s proposed
2024 exploration plans
Permitting and First Nations and Metis
Engagement
- The Company
continues to build strong relationships with First Nations and
stakeholders in northern Saskatchewan communities through sustained
engagement activities and meetings. Standard Uranium has received
strong support of its exploration plans and activities on all its
projects to date and will continue to ensure that any concerns are
addressed, potential impacts mitigated, and that communities
benefit from the Company’s activities through support of local
business, employment and training opportunities, and support of
communal programs and initiatives.
- The Company
holds active exploration permits for all planned projects in
2024.
- Standard has
engaged all key vendors to execute the 2024 exploration plans
across all projects despite competitive conditions in the
industry.
Sean Hillacre, President and VP Exploration
commented: “The technical team and I are very enthusiastic for the
upcoming year of exploration in 2024, which is poised to be our
most exciting to date. We significantly expanded our Athabasca
portfolio last year and generated exceptional geoscience targets to
explore for high-grade uranium deposits during our 2024 exploration
programs. We look forward to driving our projects forward with our
new partners.”
Neil McCallum, Lead Technical Director, stated:
“2024 is expected to be a very active year for Standard Uranium,
with several opportunities to make a new discovery in the Basin.
I’m proud to say that Standard have built the foundations for
success by accumulating high quality projects, talented exploration
professionals and have been leaders in cultivating constructive
local First Nations partnerships. We have also combined the
innovative talents of consultants such as ALS GoldSpot with the
industry-leading drilling contractors to maximize our chances for
success.”
Grant of Compensation
Securities
The Company also announces that, pursuant to its
Omnibus Incentive Plan, it has granted stock options (the
“Options”) to certain directors, management, and
consultants of the Company to purchase an aggregate of 2,230,000
common shares of the Company at the price of $0.06 per common share
until January 12, 2029. The Options will vest in intervals over a
period of twelve months from the date of grant.
In addition to the Options, the Company has also
granted 3,725,000 restricted share units (the
“RSUs”) to certain directors and senior officers
of the Company. The RSUs entitle the holder to receive one common
share, the cash equivalent or a combination thereof upon vesting.
The RSUs will vest on January 12, 2025.
The scientific and technical information
contained in this news release, including the sampling, analytical
and test data underlying the technical information contained in
this news release, has been reviewed, verified, and approved by
Sean Hillacre, P.Geo., President & VP Exploration of the
Company and a “qualified person” as defined in NI 43-101.
About Standard Uranium (TSX-V:
STND)
We find the fuel to power a
clean energy future
Standard Uranium is a uranium exploration
company and emerging project generator poised for discovery in the
world’s richest uranium district. The Company holds interest in
over 199,095 acres (80,571 hectares) in the world-class Athabasca
Basin in Saskatchewan, Canada. Since its establishment, Standard
Uranium has focused on the identification, acquisition, and
exploration of Athabasca-style uranium targets with a view to
discovery and future development.
Standard Uranium’s Davidson River Project, in
the southwest part of the Athabasca Basin, Saskatchewan, comprises
ten mineral claims over 30,737 hectares. Davidson River is highly
prospective for basement-hosted uranium deposits due to its
location along trend from recent high-grade uranium discoveries.
However, owing to the large project size with multiple targets, it
remains broadly under-tested by drilling. Recent intersections of
wide, structurally deformed and strongly altered shear zones
provide significant confidence in the exploration model and future
success is expected.
Standard Uranium’s Atlantic, Canary, Ascent,
Corvo, and Rocas Projects, in the eastern Athabasca Basin, comprise
twenty-three mineral claims over 29,520 hectares. The eastern basin
projects are highly prospective for unconformity related and/or
basement hosted uranium deposits based on historical uranium
occurrences, recently identified geophysical anomalies, and
location along trend from several high-grade uranium
discoveries.
Standard Uranium's Sun Dog project, in the
northwest part of the Athabasca Basin, Saskatchewan,
is comprised of nine mineral claims over 19,603 hectares. The Sun
Dog project is highly prospective for basement and unconformity
hosted uranium deposits yet remains largely untested by sufficient
drilling despite its location proximal to uranium discoveries in
the area.
For further information contact:
Jon Bey, Chief Executive Officer, and Chairman Suite 918, 1030
West Georgia Street Vancouver, British Columbia, V6E 2Y3 Tel: 1
(306) 850-6699 E-mail: info@standarduranium.ca
Cautionary Statement Regarding Forward-Looking
Statements
This news release contains “forward-looking
statements” or “forward-looking information” (collectively,
“forward-looking statements”) within the meaning of applicable
securities legislation. All statements, other than statements of
historical fact, are forward-looking statements and are based on
expectations, estimates and projections as of the date of this news
release. Forward-looking statements include, but are not limited
to, statements regarding: execution of the definitive agreement;
conditions to the exercise the Option; completion of the Optionee’s
go public transaction; the timing and content of upcoming work
programs; geological interpretations; timing of the Company’s
exploration programs; and estimates of market conditions.
Forward-looking statements are subject to a
variety of known and unknown risks, uncertainties and other factors
that could cause actual events or results to differ from those
expressed or implied by forward-looking statements contained
herein. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Certain
important factors that could cause actual results, performance or
achievements to differ materially from those in the forward-looking
statements are highlighted in the “Risks and Uncertainties” in the
Company’s management discussion and analysis for the fiscal year
ended April 30, 2023.
Forward-looking statements are based upon a
number of estimates and assumptions that, while considered
reasonable by the Company at this time, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies that may cause the Company’s actual financial
results, performance, or achievements to be materially different
from those expressed or implied herein. Some of the material
factors or assumptions used to develop forward-looking statements
include, without limitation: that the transaction with the Optionee
will proceed as planned; the future price of uranium; anticipated
costs and the Company’s ability to raise additional capital if and
when necessary; volatility in the market price of the Company’s
securities; future sales of the Company’s securities; the Company’s
ability to carry on exploration and development activities; the
success of exploration, development and operations activities; the
timing and results of drilling programs; the discovery of mineral
resources on the Company’s mineral properties; the costs of
operating and exploration expenditures; the presence of laws and
regulations that may impose restrictions on mining; employee
relations; relationships with and claims by local communities and
indigenous populations; availability of increasing costs associated
with mining inputs and labour; the speculative nature of mineral
exploration and development (including the risks of obtaining
necessary licenses, permits and approvals from government
authorities); uncertainties related to title to mineral properties;
assessments by taxation authorities; fluctuations in general
macroeconomic conditions.
The forward-looking statements contained in this
news release are expressly qualified by this cautionary statement.
Any forward-looking statements and the assumptions made with
respect thereto are made as of the date of this news release and,
accordingly, are subject to change after such date. The Company
disclaims any obligation to update any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as may be required by applicable securities laws. There can
be no assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements.
Neither the TSX-V nor its Regulation Services
Provider (as that term is defined in the policies of the TSX-V)
accepts responsibility for the adequacy or accuracy of this
release.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/98ccd2e2-9051-4028-a9a1-57c8413b5c64
https://www.globenewswire.com/NewsRoom/AttachmentNg/cfec161e-ed95-4aa8-9120-640b11796222
Standard Uranium (TSXV:STND)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Standard Uranium (TSXV:STND)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024