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Wednesday, Jun 12, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


Standard Uranium starts an airborne electromagnetic survey in the Athabasca basin

The technical team plans to undertake an extensive and detailed survey as part of the Sun Dog project

Standard Uranium starts an airborne electromagnetic survey in the Athabasca basin
Performing analysis at the Sun Dog project in the Athabasca Basin. Image via Standard Uranium.

Uranium explorer Standard Uranium Ltd. (TSXV: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) started an airborne versatile time-domain electromagnetic (VTEM) survey on the 19,604 Sun Dog Project in the Athabasca basin.

The survey is searching for structural corridors of electrically conductive graphite-rich rocks, which are common targets for basement-hosted uranium deposits. Announced on Wednesday, this survey comes as part of the servicing package of its three-year earn-in option agreement with Aero Energy Ltd (TSXV: AERO).

Additionally, the company engaged Team Drilling LP of Saskatoon as the drilling contractor for the exploration program at the project.

Standard Uranium’s technical team plans to undertake an extensive and detailed survey as part of the Sun Dog project, covering the entire area with 3,350 km of flight lines arranged in a grid pattern at 100 m intervals. This approach aims to prioritize existing drill targets during the search for new ones.

“The Aero technical team and I are thrilled to provide these updates to the market as we quickly move towards kicking off our ambitious 2024 exploration season,” said Sean Hillacre, president and VP of Exploration for Standard Uranium.

“We eagerly anticipate receiving the new EM data and will be putting it to work immediately as we refine our high-priority drill targets for this summer.”

Read more: ATHA Energy expands into new Canadian territory with 2024 exploration program

Read more: ATHA Energy closes acquisition of Latitude Uranium, obtains Nunavut and Labrador properties

Standard Uranium drilling campaign focuses on promising shallow targets

The company intends on focusing its 2024 drilling program on exploring its most promising options among the strongest shallow targets. The company identified these targets in collaboration with the Aero joint technical committee.

The company’s summer drilling plans entail helicopter-supported diamond drilling across the project. Standard Uranium intends on zeroing in on previously refined high-priority targets. As the planning phase progresses, specifics regarding the targets and the number of drill holes planned will be announced in the forthcoming weeks, underscoring the project’s commitment to thorough exploration and the potential discovery of valuable resources.

Aero Energy Ltd. currently holds an option on the project. The agreement terms give Aero Energy the opportunity to acquire the project.  The terms include three years of exploration and a series of cash and equity payments to exercise the option. Additionally, a 2 per cent net smelter royalty applies to Sun Dog. Aero can reduce it to 1 per cent by paying a CAD$1,000,000 cash payment to the company.

The strengths of the Athabasca Basin position it as one of the world’s most prolific uranium-producing regions. Its unique sedimentary environment and structural complexity actively contribute to the formation of these rich deposits, making the basin highly attractive for mineral exploration and extraction.

Cameco Corporation (NYSE: CCJ) (TSX: CCO), Denison Mines Corp. (TSX: DML), and ATHA Energy Corp. (CSE: SASK) (OTCQB: SASKF) (FRA: X5U) are among the companies currently engaged in operations within the basin.


ATHA Energy Corp. is a sponsor of Mugglehead news coverage


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