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Friday, May 24, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


ATHA Energy employs machine learning to pinpoint Athabasca Basin uranium targets

The prospector’s 2024 exploration program continues to run smoothly and on schedule

ATHA Energy employs machine learning to pinpoint uranium targets in Athabasca Basin
92 Energy employees joined the ATHA team in April following their merger. Photo: 92 Energy Limited (now ATHA Energy)

ATHA Energy Corp. (TSX-V: SASK) (OTCQB: SASKF) (FRA: X5U) has been utilizing AI for precision targeting at its recently acquired Gemini operation in northern Saskatchewan.

The uranium explorer, which has grown significantly since acquiring two other Canadian mining companies this year, gave an update on its current exploration program Wednesday.

This year’s campaign is the largest and most significant to date. In addition to ATHA’s work in the Athabasca Basin, the company is completing 10,000 metres of diamond drilling at its Angilak project in Nunavut starting next month. Its Lac 50 deposit is one of the world’s largest high-grade uranium resources.

“The combination of our dominant exploration portfolio and exceptional technical capacity have allowed us to deploy our most significant program to date and maximize discovery potential for the company,” chief executive Troy Boisjoli said this week.

At Gemini, ATHA had Fleet Space Technologies conduct an exosphere ambient noise tomography survey last month. It is a type of ground geophysical survey used to measure seismic vibrations in the earth’s crust with the help of AI. This helps identify uranium mineralization; some of the results are still pending.

The company is now compiling data to create a 3-dimensional geological model of the Gemini mineralized zone (GMZ). Once completed, with the help of machine learning, ATHA will complete an 8,000-metre diamond drill program beginning in August.

A series of surveys were completed at the company’s other sites in the Athabasca Basin as well.

Read more: ATHA readies equipment for June drilling at new Nunavut uranium project

Read more: ATHA enters C$8M option agreement with Inspiration Energy for Saskatchewan assets

Exploration outlook is bright

ATHA recently mobilized equipment to Angilak in preparation for the project’s upcoming drill program commencing in June. The company has two new diamond drills on-site, expected to increase production two-fold. The Nunavut project contains more than 43 million pounds of yellowcake uranium (U3O8) and over 10 million pounds of molybdenum, per estimates.

Latitude reported uranium drill hole intersections there with grades of up to 7.54 per cent U3O8 last year.

“With the successful acquisition of Latitude Uranium and 92 Energy in the first quarter of 2024, ATHA continues to execute on its strategy to invest at scale in its portfolio of diversified exploration assets,” VP of Exploration Cliff Revering said.

ATHA currently has a C$60 million cash position for its mining endeavours in Saskatchewan, Nunavut and Labrador. The Central Mineral Belt (CMB) project in Labrador was recently obtained through the Latitude acquisition, but it is not a focus during this year’s drill campaign. Nonetheless, ATHA has identified more than 140 targets for future exploration there.

“The 2024 exploration program is focused on advancing and developing our known deposits, discoveries and Tier 1 generative projects,” Revering added. “We are on track to deliver on our plan.”

ATHA Energy employs machine learning to pinpoint uranium targets in Athabasca Basin

Surveys completed and underway during this year’s campaign. Map: ATHA Energy


ATHA Energy is a sponsor of Mugglehead news coverage


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