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Stallion Uranium Corp
Symbol STUD
Shares Issued 123,409,065
Close 2024-02-20 C$ 0.14
Market Cap C$ 17,277,269
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Stallion Uranium completes MobileMT survey at Atha JV

2024-02-21 09:52 ET - News Release

Also News Release (C-SASK) Atha Energy Corp

Mr. Drew Zimmerman reports

STALLION URANIUM COMPLETES LARGEST AIRBORNE GEOPHYSICAL SURVEY IN SOUTHWESTERN ATHABASCA BASIN

Stallion Uranium Corp. has released the preliminary results from the completion of the MobileMT airborne geophysical survey. The survey covered the entire 2,200 square kilometres of the Atha Energy joint venture (JV) uranium project, a new frontier of exploration in the prolific southwestern Athabasca basin and part of the largest exploration land package held by Stallion.

Highlights:

  • Over 560 km of new basement conductive trends have been outlined.
  • Successfully identified and extended the Patterson Lake corridor, Carter corridor, Derkson corridor, R7 corridor, Virgin River conductive trend and the Coyote corridor across the project.
  • Large multikilometre conductive trends coincide with basement structures interpreted to be present in multiple locations across the project.
  • The latest in 2-D and 3-D inversion processing will be utilized to further identify sandstone and basement alteration zones associated with uranium mineralization in the basin.

"Stallion's strategy to build out the largest exploration land package, taking on a new frontier of exploration in the southwestern Athabasca basin, has been rewarded with the results of this regional survey," stated Drew Zimmerman, chief executive officer. "Utilizing the latest survey technology, we have transformed an underexplored land package, uncovering hundreds of kilometres of conductive trends that are highly prospective target areas for uranium mineralization. Not only have we extended known prolific conductive corridors, but we have also been able to uncover completely new zones. We believe the process of identifying, prioritizing and advancing the best targets from over 2,200 square km gives our team the potential and probability of finding the next significant uranium discovery."

Preliminary results

The preliminary interpretation of the survey data has changed the landscape in a meaningful way, successfully identifying over 560 km of new conductive trends across the Atha Energy JV project. This opens a new frontier of exploration in the southwestern Athabasca basin, as the project area has never had effective exploration. With the completion of the survey, the company has been able to identify and extend new conductive corridors that were previously unknown. These new conductive corridors will be the cornerstone that the next phase of exploration is built on. The survey was able to identify structural complexities, including bends and splays, in the basement geology, which suggest favourable conditions for uranium mineralization. These results, along with the advanced 2-D and 3-D inversion modelling, will be used to prioritize the newly identified conductor corridors for the next stages of exploration.

Darren Slugoski, vice-president of exploration, commented: "We are incredibly excited to see the quality and number of targets that were identified by the completion of the regional MobileMT survey. The 560 km of conductive corridors identified greatly exceeded our expectations. This survey provides Stallion with a significant number of high-priority target areas the company can prioritize and advance towards the drilling."

Survey objectives

Expert Geophysics Ltd. completed 11,875 line km of MobileMT covering the entirety of Stallion's Atha Energy JV project in the southwestern Athabasca. The objective of the survey was to identify new conductive trends over claims which have not been effectively or thoroughly surveyed for uranium. Stallion's goal was to identify and open new highly prospective areas for uranium exploration.

Basement- and unconformity-related uranium deposits in the Athabasca basin are usually associated with conductive graphitic rocks in the basement, which are detectable with the helicopter-borne MobileMT system. MobileMT is the latest innovation in airborne electromagnetic technology and the most advanced generation of airborne AFMAG technologies utilizing naturally occurring electromagnetic fields which are capable of detecting the conductivity of basement rocks to a depth of over 1,000 metres.

Next steps

Stallion will now be putting the AFMAG data through advanced digital processing, including 2-D and 3-D inversions. This advanced modelling of the data will allow for a better analysis and prioritization of the numerous conductive trends uncovered across the project. The top-tier areas will be prioritized for further exploration as the company looks to advance Tier 1 targets toward readiness for drill testing, in its efforts to find the next significant uranium deposit in the Athabasca basin.

Qualifying statement

The foregoing scientific and technical disclosures for Stallion Uranium have been reviewed by Mr. Slugoski, PGeo, vice-president of exploration, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Mr. Slugoski is a qualified person as defined by National Instrument 43-101.

About Stallion Uranium Corp.

Stallion Uranium is working to fuel the future with uranium through the exploration of over 3,000 square kilometres in the Athabasca basin, home to the largest high-grade uranium deposits in the world. The company, with joint venture partner Atha Energy, holds the largest contiguous project in the western Athabasca basin adjacent to multiple high-grade discovery zones.

The company's leadership and advisory teams comprise uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties.

Stallion offers optionality with two gold projects in Idaho and Nevada that neighbour world-class gold deposits offering exposure to upside potential from district advancement with limited capital expenditures.

We seek Safe Harbor.

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