Stallion Uranium Corp. (TSXV: STUD) (OTCQB: STLNF) (FSE: HM40) announced on Friday that it found anomalous radioactivity in its second completed hole of its maiden program on the Coffer Project in the Southwestern portion of the Athabasca Basin.
Hole CF24-002 actively encountered anomalous radioactivity near the unconformity within the Athabasca Sandstone, recording 333 counts per second (cps) over a 3.4-meter stretch.
This includes a segment of 0.4 meters that registered 664 cps, with a peak reaching 771 cps. The drill reached the unconformity at a depth of 736.2 meters and continued down to a final depth of 914 meters. CF24-002 is found 700 meters west along strike from CF24-001.
CF24-002 is located 700 meters west of CF24-001. It’s targeting an electromagnetic (EM) conductor within a gravity low. This hole represents a significant step-out and successfully followed up on the radioactivity previously intersected in CF24-001.
The drill encountered anomalous radioactivity of 333 counts per second (cps) over 3.4 meters, including 644 cps over 0.3 meters, with a peak of 771 cps in the Athabasca Sandstone at the unconformity.
This radioactivity is associated with bleaching, hematite, and stockwork fractures. The RS-230 BGO Super-SPEC Handheld Gamma-Ray Spectrometer recorded a radioactive peak of 120 cps, while the Mount Sopris 2PGA-1000 downhole gamma probe measured a radiometric peak of 771 cps at a depth of 735.2 meters.
The drill intersected the unconformity at 736.2 meters, which is 26.4 meters shallower than the unconformity in CF24-001. CF24-002 was drilled facing north to properly test the geology.
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The Appaloosa target came from a regional VTEM survey
The drill program’s third hole, CF24-003, is already under way. Positioned a further 700 meters west of the second hole, this drill continues to test the extent of radioactivity at the unconformity intersected in drill holes CF24-001 and CF24-002. Additionally, CF24-003 aims to gather geological information for the western edge of the Appaloosa target area and support observations made in the previous holes.
The Appaloosa target is situated at the north end of Stallion’s Coffer project. It emerged from a regional VTEM survey conducted in early 2023. The compilation and modelling of survey data alongside all available historical data revealed key characteristics indicative of potential uranium mineralization.
“Our technical team is continuing to deliver positive results along the Appaloosa target, which is extremely promising,” said Drew Zimmerman, CEO.
“Each drill hole is providing valuable information as we further our understanding of the target area. It is truly thrilling to see such insights from our maiden drill program. We know uranium deposits are likened to a pearl necklace, we are currently on the string tracking towards our pearl!”
To refine drilling targets accurately, Stallion employed the latest technology to conduct an advanced ground TDEM survey over the area. The proximity of the Shea Creek deposit, with over 93 million pounds of uranium and located just 13 km west of the target area, further bolsters confidence in the region’s uranium potential.
Stallion has also completed plate modelling to pinpoint exact drilling locations. This three-hole, 3,000-meter drilling program at Appaloosa represents the company’s first drilling campaign, marking its efforts to discover the next significant uranium deposit in the Athabasca Basin.
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Stallion completed a helicopter survey in the basin
Recently, Stallion completed an extensive helicopter survey in the bottom left corner of the Basin.
This survey revealed more than 560 kilometers of conductive trends associated with uranium mineralization on the joint venture property that Stallion and ATHA Energy Corp. (CSE: SASK) (FRA: X5U) (OTCQB: SASKF) manage together.
These two companies control the largest project in the southwest corner of the Basin. Notably, NexGen Energy Ltd. (TSX: NXE) is developing the Arrow deposit at the Rook I project nearby.
Additionally, ATHA currently holds the largest land package in the region. The company intends on expanding this further now that it’s finalized its pending acquisition of 92 Energy Limited (ASX: 92E). Stallion’s joint venture partner has also received shareholder approval and authorization from the Federal Court of Australia for the transaction.
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