- Standard Uranium (STND) has provided a progress update on the company’s flagship Davidson River Project
- The Vancouver-based mineral resource exploration firm’s project is located in Saskatchewan’s Athabasca Basin
- Drilling on the project began May 16, and the company has now completed 2,672 metres to date
- Based on results from the first two holes at the Thunderbird target, the company has shifted the focus of the program to that area
- Standard Uranium is unchanged, trading at $0.09 at 10:58 am ET
Standard Uranium (STND) has provided a progress update on the company’s flagship Davidson River Project.
The Vancouver-based mineral resource exploration firm’s project is located in Saskatchewan’s Athabasca Basin.
Drilling on the project began May 16, and the company has now completed 2,672 metres to date.
The first hole drilled during the current campaign intersected redox fronts and metasomatic alteration zones associated with shallow graphitic structures.
Based on results from the first two holes at the Thunderbird target, the company has shifted focus of the program to that area.
“The Davidson River drill program had a very successful start and our drill team from Base Drilling are meeting the expected drilling objectives. The first two dill holes on the Thunderbird trend have excited our geologists and we have decided to focus the majority of remaining holes on this trend,” said CEO and Chair Jon Bey.
“The technical team and I are extremely pleased with how well drilling is going at Davidson River, and we are encouraged by the alteration and structure we’re seeing in our first couple of holes on the Thunderbird trend. The strong redox fronts associated with graphitic structures are a common geological ‘pathfinder’ assemblages observed proximal to uranium mineralization in the Athasbasca Basin. We are excited to follow up drill down-dip and along strike of these altered structures. We look forward to continuing the program and incorporating our new observations into our drill targeting strategy as we continue to progress the summer program,” said Vice President of Exploration Sean Hillacre.
Drilling will continue through July and drill core samples will be sent periodically as they are collected throughout the season.
Several kilometres of graphitic conductors remain to be tested at Davidson River.
The company also announced Monday it has successfully raised $3.15 million in financing through a brokered private placement.
Standard Uranium is unchanged, trading at $0.09 at 10:58 am ET.
