STND - Standard Uranium on track to begin exploration on the Canary Project in Athabasca basin
(NewsDirect)
Standard Uranium CEO Jon Bey joined SteveDarling from Proactive to provide an update on the planned explorationactivities at the Canary Project, currently under a three-year earn-inoption agreement with Mamba Exploration. Under the agreement, Mambaaims to earn a 75% interest in the project by funding $6 million inexploration expenditures over three years, with the inaugural drillprogram scheduled for this spring.
Bey informed Proactive that the company has engaged drill andhelicopter contractors for the inaugural Spring 2024 drill program,set to commence in early May. The drill program will entailhelicopter-supported diamond drilling, focusing on high-priorityunconformity-related uranium targets that have been refined throughgeophysical work conducted by the company in 2022. The idealunconformity target zones on the project are situated approximately200-300 meters below the surface.
Highlighting the underexplorednature of the northeast portion of the eastern Athabasca Basin interms of drilling, Bey emphasized that the Canary project contains twomain conductive corridors, yet only has three historical drill holes,representing a drilling density of 0.04 drill holes per squarekilometer.
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