Standard Uranium has expanded its portfolio in the Athabasca Basin region of northern Saskatchewan, Canada, with the acquisition of three new wholly owned uranium exploration properties.
These properties, acquired by staking, are the Cable Bay Southwest (CBSW), Ox Lake and Brown Lake projects.
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The CBSW project, one of the acquired properties, is situated around 18km south of the Athabasca Basin margin.
It encompasses two mineral claims totalling 3,158 hectares (ha) and spans 8.6km of the north-east-trending Cable Bay Shear Zone, an area marked by a regional magnetic high corridor and surrounded by magnetic gradients.
The Ox Lake project, located 3km south-east of the basin’s margin and 45km south-east of the McArthur River Mine, includes one mineral claim covering 397.5ha.
It is also 19.5km north-east of the Gemini Mineralized Zone and the ACKIO uranium discovery, indicating its potential for significant findings.
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By GlobalDataThe third property, the Brown Lake project, comprises one mineral claim of 312ha near the south-eastern margin of the Athabasca Basin, 13km north-west of the Key Lake Mill facilities.
This project features a 2.4km untested magnetic low/fault trend, which is 4km south-west along strike of the Shift Lake Uranium Zone.
With these acquisitions, Standard Uranium’s interests in the Athabasca Basin now comprise ten projects covering more than 196,300 acres.
The company has completed three earn-in option agreements since it broadened its business strategy to encompass project generation alongside pure exploration.
Standard Uranium is optimistic about the potential of these properties for the discovery of high-grade basement-hosted and unconformity-related uranium mineralisation and is open to option deals.
The expansion aligns with Standard Uranium’s objective to increase its landholdings in the infrastructure-rich eastern Athabasca Basin, enhancing its prospects in the region known for its uranium potential.
Standard Uranium Exploration president and vice-president Sean Hillacre said: “The acquisition of these new properties, further increasing our land holdings to ten projects, provides Standard Uranium shareholders with increased exposure to transactional and discovery upside.
“This is yet another example of our technical team continuing to identify areas with shallow drill targets and favourable geology for uranium discovery, and we look forward to what we will be able to do with these claims in 2024.”
