Stallion Uranium has secured permits to undertake geophysical surveys and diamond drilling exploration at the Coffer uranium project in Canada.

Valid until 1 November 2026, the permits from the Saskatchewan Government allow the company to commence a ground-based geophysics survey in the coming weeks.

Stallion said the work, which will focus on the project’s Appaloosa Target, will inform the planned maiden diamond drill programme scheduled for the first quarter of 2024.

The company plans to conduct multiple seasons of geophysical surveying and drill testing at the Coffer uranium project.

Other permitted activities include temporary camp establishment and access trail construction.

Stallion Uranium CEO Drew Zimmerman said: “We are thrilled to share the news that Stallion has secured an exploration permit for our Coffer project in the Athabasca Basin.

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“This permit represents a key step in our ability to continue to advance our high-potential uranium targets. The South-western Athabasca Basin is an under-explored corner of the globally recognised Athabasca Basin and we are eager to advance our exploration activities in this burgeoning region that holds the potential to host the next significant uranium discovery.”

Covering 35,875 hectares of highly prospective ground in the Western Athabasca Basin, the Coffer Project includes eight mineral claims.

The project is located around 3km to the south-east of the Shea Creek Project.

Stallion said the project, which was not subject to drill testing, holds several kilometre-scale prospective zones within the key target areas.

These target areas include Appaloosa, Clydesdale and Mustang.

In July 2023, Stallion agreed to buy a 70% stake in 47 mineral claims in Saskatchewan, Canada, from Atha Energy.

Under the terms of the agreement, Stallion will acquire the stake by issuing more than three million Stallion shares within two business days.