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Be the first with the news that moves the market- Standard Uranium (STND) has revealed the initial results from its recent drilling work at the Davidson uranium project in Saskatchewan
- Standard has sunk six drill holes into the property, hitting basement rocks at between 70 and 111 metres
- The basement rocks are similar to two other neighbouring uranium projects, that are the host rocks of the uranium found on those projects
- The company has compared the results to the nearby Triple R and Arrow deposits, which are located between 25 and 30 kilometres
- The drilling has thus far focused on the Warrior trend, which the company hopes to extend by up to 200 metres
- Standard Uranium (STND) is up 11 per cent and is trading at C$0.25 per share
Standard Uranium (STND) has revealed the initial results from its recent drilling work at the Davidson uranium project in Saskatchewan.
The company has thus far sunk six drill holes into the property, focusing on the Warrior trend. The results from this first batch of drilling are currently being assayed in Saskatoon and are expected within the next two weeks. Currently the drill program is ahead of schedule and on budget.
Standard hit relatively shallow basement rocks in all of its completed drill holes, with mineralization ranging between 70 metres and 111 metres.
The company has compared the results to the nearby Triple R and Arrow deposits, which are located between 25 and 30 kilometres away and are currently being developed by Fission Uranium and NexGen, respectively. The company has called these basement rock types favourable and said they resemble other uranium deposits in the region.
President and CEO of Standard Uranium Jon Bey said he was extremely pleased with how the inaugural drilling work has progressed thus far.
“This is an exciting time for our team of geologists as we receive the fish drill core each morning.
“We have focussed on testing the highest priority geophysical trend on the property, the Warrior trend and we have surpassed our expectations so far, not only by proving the right rock types, but also identifying basement alteration and structure.
“We will be using this information to guide our work as we search for high-grade uranium mineralization,” he said.
Standard Uranium (STND) is up 11 per cent and is trading at C$0.25 per share at 11:30 am EDT.
