VANCOUVER, British Columbia, June 27, 2024 (GLOBE NEWSWIRE) — Stallion Uranium Corp. (the “Company” or “Stallion”) (TSX-V: STUD; OTCQB: STLNF; FSE: FE0) is pleased to announce the preliminary results from the completion of a MobileMT™ airborne geophysical survey (the “Survey”) on its 100% owned Sandy Lake Project (the “Project”). The project is roughly 11km west of Shea Creek and the Cluff Lake Mine in the prolific Southwestern Athabasca Basin, in northern Saskatchewan.
Highlights
- 27 kms of basement conductive trends have been outlined.
- Large multi-kilometer conductive trends coincide with basement structures interpreted to be similar to structures at Shea Creek and Cluff Lake
- Project advancing towards drill readiness with defined target areas
- Follow-up will include ground geophysics to refine targets in advance of drill testing
“The completion of this survey has identified compelling target areas at Sandy Lake and takes the project another step closer to drill readiness,” said Stallion CEO, Drew Zimmerman. “With geological features similar to the nearby Shea Creek and Cluff Lake Mine, Sandy Lake is becoming a top tier project with major discovery potential.”
Figure 1 – Stallion’s 100% Owned Sandy Lake Mobile MT Survey Results
Darren Slugoski, VP of Exploration said, “The comprehensive MobileMT™ survey was able to identify and prioritize five discrete conductive trends which will be the target of the next phase of exploration. The survey gives Stallion the additional detail and resolution needed to interpret the geological features known to host uranium mineralization.”
Results
Convolutions Geoscience was contracted to complete an interpretation of the 2024 AFMAG results collected by Expert Geophysics. The results of the survey identified five discrete conductive trends (Figure 1) label SL1 to SL5. The conductors are oriented in three dominant directions with conductors SL1, SL3 and SL4 trending NW-SE, conductor SL2 is trending east-west and conductor SL5 is trending north-south.
The SL1, SL3 and SL4 represent conductive corridors that occur sub-parallel to the Saskatoon Lake conductive trend which hosts the Shea Creek Deposits only 11km to the east. SL1 & SL3 conductor corridors are located above and below the unconformity model surface, indicating that the sandstone may have been breached. SL2 and SL4 are interpreted to lie at and below the unconformity. The data further indicates that some of the conducive anomalies are consistent with ring and radial structures from the Carswell impact nearby. SL5 is interpreted to occur deeper in the basement than the other conductors. The interactions with the regional conductors and the radial Carswell structures are compelling targets as they could create locations necessary to trap and concentrate uranium bearing fluids.
The survey was able to identify structural complexities, including bends and splays, in the basement geology which suggest further favorable conditions for uranium mineralization. These results will be used to prioritize the newly identified conductor corridors for the next stages of exploration.
Survey Objectives
Expert Geophysics Ltd. (“Expert”) completed 190 line-kilometres of MobileMT™ covering the entirety of the Sandy Lake Project in the Southwestern Athabasca Basin. The purpose of the survey was mapping bedrock structure and lithology, including possible alteration and mineralization zones by observing apparent conductivity corresponding to different frequencies and inverting the EM data obtains the distribution of resistivity with depth. Using the VLF EM and magnetic data to study properties of the bedrock units to gain additional information for identifying target area prioritization to advance exploration.
Next Steps
Stallion has clearly outlined 5 priority trends that feature additional geophysical anomalies known to be associated with uranium mineralization in the area. This new data continues to check all the boxes that warrant further exploration with a ground electromagnetic survey. The ground survey would cover the SL1 and SL2 conductive corridors to identify the top locations for drilling on each trend.
Qualifying Statement
The foregoing scientific and technical disclosures for Stallion Uranium have been reviewed by Darren Slugoski, P.Geo., VP 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
Stallion Uranium is working to Fuel the Future with Uranium through the exploration of over 3,000 sq/km in the Athabasca Basin, home to the largest high-grade uranium deposits in the world. The company, with JV partner Atha Energy (TSX-V: SASK), holds the largest contiguous project in the Western Athabasca Basin adjacent to multiple high-grade discovery zones.
Our leadership and advisory teams are comprised 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.
For more information visit stallionuranium.com or contact:
Drew Zimmerman
Chief Executive Officer
778-686-0973
[email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”) that relate to the Company’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this material change report should not be unduly relied upon. These statements speak only as of the date they are made.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3274060d-84d4-4881-92f2-52e90ecf23bb
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