The Prospector News

Standard Uranium Intersects Anomalous Radioactivity, Prospective Structure and Alteration in Multiple Drill Holes at Atlantic Project; Concludes Inaugural Drill Program

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Standard Uranium Intersects Anomalous Radioactivity, Prospective Structure and Alteration in Multiple Drill Holes at Atlantic Project; Concludes Inaugural Drill Program

 

 

 

 

 

Standard Uranium Ltd. (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to announce that inaugural drilling activities are now complete at the Company’s 3,061-hectare Atlantic Project highlighting anomalous radioactivity1 in all completed drill holes. Atlantic is situated in the prolific eastern Athabasca Basin, northern Saskatchewan (Figure 1).

 

Highlights:

  • Inaugural Success: Anomalous radioactivity (>300 cps) was intersected in all five of the Company’s inaugural drill holes at the Atlantic Project, coinciding with prospective structural zones and favorable alteration including dravite-rich clays.
  • Sandstone & Basement-Hosted Radioactivity: Multiple zones of elevated radioactivity linked to the sub-Athabasca unconformity and basement structural zones were intersected, indicating a uranium-fertile system.
  • Verified Targets: Massive structural disruption confirmed in the sandstone column and multiple wide (>10 metres) brittle-reactivated graphitic shear zones confirm the main interpreted electromagnetic corridor on the western claim block which was not reached by previous operators. The inaugural program results have confirmed the Company’s exploration thesis on the Project, highlighting a uranium-fertile system with several kilometres of still untested strike length across the Project.
  • Hydrothermal U Input: Uranium: Thorium (“U:Th”) ratios >3:1 measured with the handheld RS-125 Super-Spec suggest hydrothermal uranium input focused along structures.
  • On Time & Under Budget: Completion of 3,316 metres within 5 drill holes, surpassing meterage expectations both on time and under budget.
  • Follow Up Targets & Next Steps: Atlantic holds significant upside for discovery along the untested portions of the E-W conductor system. Supplementary geophysical surveys over the central claim blocks will provide further target areas for phase II and III drilling, along with the additional untested gravity low anomalies on the western block identified in 2022.

 

“Intersecting anomalous radioactivity across all five drill holes targeting a completely untested area on the Atlantic project is extremely encouraging. The results from this program have confirmed the presence of a significant structural framework on the property providing the ideal conditions for high-grade unconformity-related uranium mineralization,” said Sean Hillacre, Standard Uranium’s VP of Exploration. “The scale and intensity of deformation in the basement rocks we drilled this season is highly prospective and paired with the radioactivity and hydrothermal alteration intersected in the overlying sandstone, we are just in the beginning of uncovering the compelling story on the first of many target areas on Atlantic.”

 

The Atlantic project boasts all the key characteristics to host a high-grade unconformity-related uranium deposit, and the results of the inaugural drill program on the project have strengthened the validity of the exploration model. Follow up targets are being planned as geological data from the winter 2024 program is processed and interpreted. Core samples from the program have been submitted to Saskatchewan Research Council Geoanalytical Laboratory (“SRC”) in Saskatoon, for geochemical assay and results will be reported once received and examined by the technical team in accordance with the Company’s internal quality control processes.

 

“I am very encouraged with the magnitude of the structure and alteration that has been encountered thus far. Combined with the anomalous radioactivity, we’re setting the stage for more success on the project” said Neil McCallum, director of Standard Uranium and Atco Mining. “We are already planning the next steps, so having this information will be an incredible addition to our exploration model.”

 

The Project is currently under option to ATCO Mining Inc. (CSE: ATCM) an arms-length company listed on the Canadian Securities Exchange. Pursuant to the Option, the Optionee can earn a 75% interest in Atlantic over three years. The Optionee-funded winter 2024 drill program will contribute to satisfying the first year of minimum exploration expenditures required by the Option.

 

Figure 1. Regional summary map of the Atlantic Project highlighting uranium occurrences, historical and 2024 drill holes, geophysical anomalies, and EM conductors.

 

Technical Highlights:

 

The winter 2024 drill program comprised 3,316 metres of diamond drilling across 5 drill holes (Table 1). Two drill holes were restarted due to difficult ground conditions resulting from highly broken and desilicified sandstone intervals. Inaugural drilling intersected the key characteristics of a uranium-bearing mineralized system in previously untested “Target Area A” (Figure 2), confirming the presence of a significant graphitic fault system in the basement rock linked to anomalous radioactivity and prospective hydrothermal alteration at the unconformity. Handheld scintillometer and downhole gamma probe radioactivity results are summarized in Table 2.

 

Figure 2. Map of the western Atlantic claim block, highlighting winter 2024 drill holes and historical drill hole BL-16-32. The geophysical target area is defined by a significant residual gravity-low anomaly coinciding with EM conductors dipping to the south.

 

Table 1. Atlantic winter 2024 drill hole collar summary. Easting and Northing coordinates are reported in UTM Zone 13N, NAD83 datum; EOH = end of hole; m.a.s.l. = metres above sea level.

 

DDH Easting Northing Elevation (m.a.s.l.) Azimuth (°) Dip (°) EOH (m)
ATL-24-001 519790 6498261 412 344.80 -69 599
ATL-24-002 519828 6498570 394 336.90 -67 641
ATL-24-003 520190 6498305 396 338.20 -74 588
ATL-24-004* 519851 6498546 388 336.20 -74 60
ATL-24-004A 519851 6498546 388 336.20 -74 657
ATL-24-005* 519936 6498584 398 335.90 -69 111
ATL-24-005A 519936 6498584 398 336.40 -69 660

* Restarted due to difficult ground conditions.

 

Table 2. Atlantic winter 2024 drill hole radioactivity summary. Scintillometer readings are taken from down-hole depths, gamma probe peaks are corrected survey depths.

 

DDH From (m) To (m) Width (m) Lithology RS-125 Scintillometer 32GR Gamma Probe
Min Max Avg. Peak Depth (m)
ATL-24-001 520.5 521.0 0.5 Sandstone 170 360 265 337 518.55
ATL-24-001 521.5 522.0 0.5 130 310 220
ATL-24-001 523.5 524.0 0.5 160 340 250
ATL-24-002 509.0 509.5 0.5 Sandstone 200 590 395 1,204 506.27
ATL-24-003 505.0 505.5 0.5 Sandstone 160 280 220 323 506.59
ATL-24-003 558.0 558.5 0.5 Basement 110 280 195
ATL-24-004A 530.0 530.5 0.5 Basement 100 560 330 1,082 530.18
ATL-24-004A 544.5 545.0 0.5 140 360 250
ATL-24-004A 550.0 550.5 0.5 140 370 255
ATL-24-005A 493.0 493.5 0.5 Sandstone 120 310 215 647 490.99
ATL-24-005A 494.5 495.0 0.5 180 450 315
ATL-24-005A 496.5 497.0 0.5 140 310 225

 

The Atlantic Project covers 6.5 km of an 18 km long, east-west trending conductive exploration trend which hosts numerous uranium occurrences. The Company completed a high-resolution ground gravity survey on the western claim block in 2022, revealing multiple subsurface density anomalies, potentially representing significant hydrothermal alteration zones in the sandstone rooted to basement conductors.

 

The drill program was designed to follow up on highly anomalous uranium results returned from drill hole BL-16-32, in addition to testing the newly outlined gravity lows defined by the 2022 ground survey. On the western Atlantic claim block, drilling by Denison Mines in 2016 (Hole BL-16-32) identified 342 ppm uranium over 0.5 metres at the base of the sandstone, just north of Target Area A. Winter drilling was focused in Target Area A which is defined by a 1,400-metre x 850-metre density-low anomaly coinciding with stacked EM conductors and an interpreted regional fault. Figure 2 highlights winter 2024 drilling focused on testing the 3D density anomaly target at the unconformity linked to basement EM conductors and interpreted fault trends. Core photos of prospective alteration, structure, and radioactivity intersected during the inaugural drill program are presented in Figure 3, 4, and 5.

 

Figure 3. Core photos from drill hole ATL-24-002 highlighting significant structure and alteration intersected in the Athabasca sandstone and basement rocks. UC = Unconformity. A) Variably altered Athabasca sandstone throughout a highly structured interval above the unconformity (yellow box) hosting local anomalous radioactivity (red box) and dravite alteration at the UC. Maximum gamma probe reading of 1,204 cps at 506.3 m. B) Strongly deformed graphitic basement rocks displaying reactivation textures and variable alteration; 539 to 552.3 m.

 

 Figure 4. Core photos from drill hole ATL-24-004a highlighting basement structure and alteration zones intersected associated with anomalous radioactivity. A) Anomalous radioactivity up to 1,082 cps associated with a cross-cutting hematite-altered vein at 530.3 m. B) Anomalous radioactivity up to 314 cps associated with a hematite-altered breccia at 549.7 m. C) Anomalous radioactivity up to 483 cps associated with a hematite- and clay-altered vein at 544.2 m. D) Anomalous radioactivity up to 428 cps associated with a hematite-altered breccia and clay-lined fractures at 548.7 m.

 

 Figure 5. Core photos from drill hole ATL-24-005a highlighting structure and alteration intersected in the Athabasca sandstone and basement rocks. A) Subvertical fault structure filled with a clay-hematite matrix; 410.5 to 411.5 m. B) Subvertical fault structure filled with a white clay matrix; 483.4 to 483.7 m. C) Anomalous radioactivity in the basal Athabasca sandstone up to 647 cps at 491 m. D) Strongly deformed graphitic basement rock overprinted by cataclasis and associated clay alteration; 540.0 to 540.3 m.

 

Samples collected for analysis have been sent to SRC Geoanalytical Laboratories in Saskatoon, Saskatchewan for preparation, processing, and ICP-MS multi-element analysis using total and partial digestion, gold by fire assay and boron by fusion. Sandstone samples were tested using the ICP-MS1 uranium multi-element exploration package plus boron. Basement samples were tested with ICP-MS2 uranium multi-element exploration package plus boron. All sandstone samples, and basement samples marked as radioactive upon arrival to the lab were also analyzed using the U3O8 assay (reported in wt %). Basement rock split interval samples range from 0.1 to 0.5 m and sandstone composite samples are comprised of multiple equal sized full core “pucks” spaced over the sample interval. SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. Blanks, standard reference materials, and repeats were inserted into the sample stream at regular intervals in accordance with Standard Uranium’s quality assurance/quality control (QA/QC) protocols. Samples containing clay alteration have been sent to Rekasa Rocks Inc. in Saskatoon, Saskatchewan to be analyzed by Short Wavelength Infrared Reflectance (“SWIR”) via a Portable Infrared Mineral Analyzer (“PIMA”) to verify clay species. Geochemical assay results will be released as they are received and examined by the technical team in accordance with the Company’s internal quality control process.

 

1 The Company considers radioactivity readings greater than 300 counts per second (cps) to be “anomalous”.
2 The Company considers uranium mineralization with concentrations greater than 1.0 wt% U3O8 to be “high-grade”.
3Natural gamma radiation in diamond drill core reported in this news release was measured in counts per second (cps) using a handheld RS-125 super-spectrometer and verified using a down-hole Mount Sopris 32GR slim gamma probe. The 32GR gamma probe has been calibrated to optimize the probe for uranium exploration logging and estimating weight percent U3O8 content. Readers are cautioned that scintillometer and gamma probe readings are not uniformly or directly related to uranium grades of the rock sample measured and should be treated only as a preliminary indication of the presence of radioactive minerals. All drill hole intersections are measured down-hole. Core interval measurements and true thicknesses are yet to be determined.

 

The scientific and technical information contained in this news release has been reviewed, verified, and approved by Sean Hillacre, P.Geo., President and VP Exploration of the Company and a “qualified person” as defined in NI 43-101.

 

About Standard Uranium

 

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 209,867 acres (84,930 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 has successfully completed four joint venture earn in partnerships on their Sun Dog, Canary, Atlantic and Ascent projects totaling over $31M in work commitments over the next three years from 2024-2027.

 

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 eight eastern Athabasca projects comprise thirty mineral claims over 32,838 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.

 

Posted April 11, 2024

Share this news article

MORE or "UNCATEGORIZED"


NEW GOLD COMPLETES US$173 MILLION BOUGHT DEAL FINANCING

New Gold Inc. (TSX: NGD) (NYSE American: NGD) is pleased to annou... READ MORE

May 17, 2024

SILVER VIPER CLOSES LIFE OFFERING

Silver Viper Minerals Corp. (TSX-V: VIPR) (OTC: VIPRF) announces... READ MORE

May 17, 2024

MAX Power Closes $1.9 Million Private Placement

MAX Power Mining Corp. (CSE: MAXX) (OTC: MAXXF) (FRANKFURT: 89N) ... READ MORE

May 17, 2024

McEwen Copper Announces Completion of the Feasibility Drilling Program

70,000 meters completed, highlights include:   349.0 m of 0.77... READ MORE

May 17, 2024

Rupert Resources Reports Results From Project Drilling Including 120m at 6.2g/t Gold

Rupert Resources Ltd. (TSX:RUP) reports assay results from projec... READ MORE

May 16, 2024

Copyright 2024 The Prospector News