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Stallion Uranium Corp
Symbol STUD
Shares Issued 123,409,065
Close 2024-04-17 C$ 0.13
Market Cap C$ 16,043,178
Recent Sedar Documents

Stallion Uranium drills 3.4 m of 333 cps at Coffer

2024-04-17 09:53 ET - News Release

Mr. Drew Zimmerman reports

STALLION URANIUM DRILLING CONTINUES TO HIT ANOMALOUS RADIOACTIVITY

Stallion Uranium Corp. has encountered anomalous radioactivity in the second completed hole of the company's maiden drill program on its 100-per-cent-owned Coffer project in the prolific Southwestern Athabasca basin in Saskatchewan, Canada.

Highlights:

  • Hole CF24-002 encountered anomalous radioactivity near the unconformity in the Athabasca sandstone of 333 counts per second (cps) over 3.4 metres, including 0.4 m at 664 cps with a peak of 771 cps;
  • Hole CF24-002 hit the unconformity at 736.2 m and completed at a depth of 914 m;
  • CF24-002 is located 700 m west along strike from CF24-001;
  • Stallion holds a 100-per-cent ownership of the project.

"We are thrilled to continue to encounter anomalous radioactivity along the Appaloosa trend," said Darren Slugoski, vice-president of exploration, Canada. "CF24-002 was able to reaffirm radioactivity at the unconformity previously intersected in drill hole CF24-001, as well as demonstrate the fertility of the Appaloosa target and its potential to host a significant deposit. With each drill hole we continue to make significant strides in understanding the geology and structure of the target area."

Technical summary for CF24-002 (zone 12 V 598869 easting, 6457227 northing, 000 degrees azimuth/dip minus 85 degrees)

CF24-002 is located 700 metres west of CF24-001 and is targeting an EM (electromagnetic) conductor located within a gravity low. CF24-002 was a large stepout that was successful in following up radioactivity intersected in CF24-001. Anomalous radioactivity was encountered in the Athabasca sandstone at the unconformity with radioactivity of 333 cps over 3.4 m, including 644 cps over 0.3 with a radioactive peak of 771 cps. Radioactivity is associated with bleaching, hematite and stockwork fractures. A RS-230 BGO Super-SPEC hand-held gamma-ray spectrometer measured a radioactive peak of 120 counts per second and a Mount Sopris 2PGA-1000 downhole gamma probe measured a radiometric peak of 771 cps at 735.2 m depth. The unconformity was intersected at 736.2 m, which is 26.4 m shallower than the unconformity in CF24-001. Basement-oriented structural measurements taken from CF24-001 indicate that the geology is dipping to the south and, to properly test the geology, CF24-002 was drilled facing north.

"Our technical team is continuing to deliver positive results along the Appaloosa target, which is extremely promising," asserted Drew Zimmerman, chief executive officer. "Each drill hole is providing valuable information as we further our understanding of the target area. It is truly thrilling to see such insights from our maiden drill program. We know uranium deposits are likened to a pearl necklace, we are currently on the string tracking towards our pearl."

Hole CF24-003

The third hole of the drill program is already under way. The collar of the hole is a further stepout of 700 m to the west of the second hole. This drill hole will continue to test the extent of radioactivity at the unconformity intersected in drill holes CF24-001 and 002. Drill hole CF24-003 is also designed to provide geological information for the western edge of the Appaloosa target area, and to support observations made in CF24-001 and 002.

Appaloosa target

The Appaloosa target is located at the north end of the 100-per-cent-owned Coffer project and was first identified from the regional VTEM (versatile time domain electromagnetics) survey conducted in early 2023. The survey data, when compiled and modelled with all available historical data, showed the key characteristics for potential uranium mineralization. To best refine drill targets Stallion utilized the latest technology to complete an advanced ground TDEM (time domain electromagnetic) survey over the target area. Further bolstering confidence in the target, the Shea Creek deposit (Orano/UEC) of over 93 million pounds (Mlb) is only 13 kilometres west of the target area, highlighting the uranium endowment in the area. The company has completed plate modelling for exact drill targets. This three-hole, 3,000-metre drill program at Appaloosa marks the company's first drilling campaign in its efforts to discover the next significant uranium deposit in the Athabasca basin.

The Coffer project is located 224 km north of the community of La Loche and is accessible via Highway 955. The accommodations are located 15 km away from the drill site and is accessible by drill trails. The company has secured all necessary permits and approvals for the program.

Gamma logging and geochemical assaying

All core radioactivity was measured using an RS-230 BGO Super-SPEC hand-held gamma-ray spectrometer. Downhole probing radiometric surveying was conducted with a Mount Sopris 2PGA-1000 downhole total gamma probe. The total gamma results provided in the table entitled "Downhole total gamma results from CF24-002" were selected using a cut-off of 300 cps over a 0.3-metre downhole width.

All drill core samples from the 2024 program will be shipped to the Saskatchewan Research Council Geoanalytical Laboratories (SRC) in Saskatoon, Sask., an ISO/IEC 17025/2005 and Standards Council of Canada-certified analytical laboratory. Stallion Uranium requests multielement analysis by ICP-MS (inductively coupled plasma mass spectrometry) and ICP-OES (inductively coupled plasma optical emission spectrometry) using total (HF:NHO3:HClO4) and partial digestion (HNO3:HCl), boron by fusion. One-half of the split core samples are retained and the other half cores are sent to the SRC for analyses. Blanks, standard reference materials and repeats are inserted into the sample stream at regular intervals by Stallion Uranium geologists and SRC in accordance with industry-standard quality assurance/quality control procedures.

All reported depths and intervals are drill hole depths and intervals, unless otherwise noted, and do not represent true thicknesses, which have yet to be determined. The reader is cautioned that gamma probe readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication of the presence of radioactive materials.

Qualifying statement

The foregoing scientific and technical disclosures for Stallion Uranium have been reviewed by Darren 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 km 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.

Stallion's leadership and advisory teams are composed of 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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