Stallion Discoveries Geophysical Survey in Interpretation Phase
June 19 2023 - 3:35PM
Stallion Discoveries Corp. (the
"Company" or
"Stallion") (TSX-V: STUD; OTCQB: STLNF; FSE: HM4)
is pleased to announce that Geotech Ltd. (Geotech) has completed
processing the data from the VTEM™ Plus electromagnetic (EM)
and magnetic survey that covered all of Stallion’s 100% owned
78,831 hectares in the Athabasca Basin, Saskatchewan.
Stallion has engaged Condor North Consulting ULC
(“Condor”) to interpret the survey data, as
previously announced on April 27th. Condor has now begun this
interpretation work, which includes a full range of services for
processing, modeling, and analysis of geophysical data. The team
has extensive experience in all aspects of geophysics and works
with clients to integrate geoscience data into a coherent project
data set from which sound exploration decisions can be based.
Condor has significant expertise in the Athabasca Basin and in
uranium exploration. This technical continuity from data
acquisition phase through to interpretation ensures best data
quality leading to the success of the geophysical compilation and
targeting of high priority zones and potential drill targets.
Stallion holds the largest contiguous land
package in the western Athabasca Basin, when including its 100%
owned and optioned joint-venture land with Atha Energy. The Company
is continuing to execute on its exploration plans with a view to
identifying target zones and high potential drill targets later
this year.
Stallion has made the strategic decision to
terminate the previously announced $4 million non-brokered private
placement financing.
Management has determined that the Company has a
sufficient cash balance to fund the ongoing exploration plans for
its Athabasca Basin and Gold projects. “We recognize the transitory
softness in the current market environment and have concluded that
the financing is not necessary at this time given our balance
sheet. We are focused on progressing our exploration plan and look
forward to updating our investors on the results of the geophysical
survey in the weeks ahead,” stated Mr. Zimmerman, Stallion’s
CEO.
About Stallion Discoveries
Stallion Discoveries 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 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 Stalliondiscoveries.com or
contact:
Lisa StewartInvestor Relations(604)
341-8177 lstewart@stalliondiscoveries.com
Drew ZimmermanChief Executive Officer
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.
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