Standard Uranium Ltd. is gearing up for an exciting exploration program on their Canary Project located in the eastern Athabasca Basin. Under a three-year earn-in option agreement with Mamba Exploration Limited, Mamba has the opportunity to earn a 75% interest in the Project by funding $6M in exploration expenditures.
The Company has announced key vendors secured for the inaugural drill program scheduled to begin in early May. The drill program will focus on high-priority unconformity-related uranium targets refined by geophysical work completed in 2022. With ideal unconformity target zones just 200-300 meters below the surface, the Company is optimistic about discovering significant uranium mineralization.
Standard Uranium’s President & VP Exploration, Sean Hillacre, expressed confidence in the targeting strategy, citing the high-quality geophysical surveys conducted in preparation for the program. Neil McCallum, the Technical Director, highlighted the underexplored nature of the northeastern Athabasca Basin, where the drill density is significantly lower compared to other regions.
The Canary Project boasts two main conductive corridors with only three historical drill holes, indicating vast exploration potential. The Company completed a ground DC/IP survey in 2022, providing valuable information on potential hydrothermal alteration zones. Legacy GeoTEM data also points towards promising targets for exploration.
With multiple geophysical anomalies identified and a strong exploration model in place, Standard Uranium is optimistic about the upcoming drilling program. The Company’s commitment to clean energy and exploration in the Athabasca Basin positions them as a key player in the uranium sector.
