Standard Uranium Announces Promising Results from Spring 2024 Drill Program at Canary Project

2 min read | September 20, 2024 06:00 PM AEST | By Team Kalkine Media

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Standard Uranium Announces Promising Results from Spring 2024 Drill Program at Canary Project — Image source: Shutterstock

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Standard Uranium Ltd. (TSX-V: STND, OTCQB: STTDF, Frankfurt: FWB: 9SU) has released a summary of analytical results from its inaugural spring 2024 drill program at the 7,302-hectare Canary Project, located in the prolific eastern Athabasca Basin of northern Saskatchewan. The program has confirmed the presence of localized anomalous uranium and pathfinder elements characteristic of basement-hosted uranium deposits.

Strategic Partnership and Exploration Goals

Currently, the Canary Project is under a three-year earn-in option agreement with Mamba Exploration Limited. According to this agreement, Mamba can earn a 75% interest in the project by funding CAD$6 million in exploration expenditures over three years. The recently completed drill program marks the fulfillment of the first year's exploration spend.

Key Analytical Results

The spring 2024 drill program comprised 1,863 meters of diamond drilling across four drill holes, commencing on May 3rd and finishing ahead of schedule on May 31st, 2024. The results revealed:

Uranium Mineralization Confirmed: Drilling at holes CAN-24-001 and CAN-24-003 showed moderately anomalous uranium with Uranium

) ratios ≥3:1, indicating hydrothermal uranium input.

Basement-Hosted Uranium: Elevated uranium levels were linked to structural zones and lithological contacts, suggesting a uranium-fertile system.
Elevated Uranium Pathfinders: Multiple drill holes returned significant amounts of key uranium pathfinder elements, particularly anomalous Boron. Spectroscopy confirmed the presence of fracture-hosted dravitic clay (13.4%) associated with semi-pelitic gneiss in drill hole CAN-24-001.

Next Steps and Future Targets

The Canary Project presents significant potential for discovery across three largely underexplored conductor systems. The company plans to conduct supplementary geophysical surveys across these corridors to refine future drill targets for phase II and III drilling.

The spring 2024 drilling successfully intersected multiple indicators of a uranium-bearing mineralized system along the previously untested northern conductive trend. Key characteristics observed included favorable hydrothermal alteration, highly deformed metasedimentary, and metasomatized basement rock packages, as well as a potential "quartzite ridge" in the corridor footwall.

Additionally, legacy GeoTEM data defining the southeastern electromagnetic corridor is comparable to the response seen in the GeoTEM conductor that hosts the Roughrider/J-zone uranium deposits to the south. Historical drill hole CRK-137 along this southeastern conductor has returned highly anomalous geochemistry, marking it as a promising follow-up target for phase II drilling.

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