Stallion Discoveries Corp. (the
"Company" or
"Stallion") (TSX-V: STUD; OTCQB: STLNF; FSE: HM4)
is pleased to report the preliminary results from the airborne
geophysical survey flown over the Company’s 100% owned projects in
the Athabasca Basin. The survey covered over 195,000 acres across 8
projects in the eastern and western Athabasca Basin, Saskatchewan,
Canada.
The helicopter-borne VTEM™ Plus survey that
totaled over 5,200 line-kilometers was carried out by Geotech Ltd.
to provide detailed magnetic and electromagnetic data of the
entirety of Stallion’s projects. The focus of the survey is to
locate basement hosted graphitic conductors, which are known to be
associated with high-grade uranium deposits, and is a key step in
Stallion’s roadmap to discovery. Preliminary magnetic data
highlighted below has been released to Stallion. The next stage of
results from Condor Consulting arriving in the coming weeks will
include advanced processing and analysis of this data, which will
allow the Company to outline conductors across our projects to
identify and prioritize drill targets.
“We are very pleased with these preliminary
results. The complex geological structures can be identified with
the new high quality magnetic data. These structures are important
for uranium mobilization and mineralization,” stated Darren
Slugoski, Vice President Exploration of Stallion. “We are excited
to receive the processed EM data from Condor Consulting, which will
identify the EM conductors on the properties. The EM conductors in
combination with the magnetic data should highlight highly
attractive target areas and provide prospective drill targets.”
Survey Details:
The VTEM™ Plus survey was flown over the
projects with flight lines spacing at 200m apart to provide high
resolution data. The survey will be used to characterize the
geology and locate conductive and altered zones with associated
structural complexity on each of the projects.
Preliminary Highlights
Include:
Coffer Property:The project is located 3
kilometres to the southeast of the Shea Creek Project (85.05
million lb. of U3O8 combined indicated and inferred) and 13 km east
of F3’s JR Zone (6.97% U3O8 over 15.0m, including 5.5m of 18.6%
U3O8 in drill hole PLN22-035). Magnetic Tilt Angle Derivative shows
excellent structure, including Northwest – Southeast trending
geology, which occurs parallel to the Shea Creek’s Saskatoon Lake
conductor. The Beatty River Fault is visible in the map as a
magnetic low cutting through middle of the project claims. The
Coffer Property is a highly attractive project ideally situated
both proximal to the Saskatoon Lake conductor and the clearwater
domain which are both believed to contribute to uranium
mineralization in the Western Athabasca basin (Figure 1).
Ford Lake Property:Magnetic Tilt Angle
Derivative on the eastern half of the block shows North/South
fabric. In the western half of the block, the North-South oriented
fabric is interpreted to be overprinted by a secondary Northwest
trending fabric. The Ford Lake project is located just 10 km to the
Southwest of CanAlaska/Denison’s Moon Lake South project (2.46%
U3O8 over 8.0 metres, including 3.71% U3O8 over 4.5 metres in drill
hole MS-23-10A) (Figure 2).
Gunter Property:The Gunter Lake Property
consists of four adjoining claims with a total area of 17,769
hectares situated in the heart of the Patterson Lake uranium
district in the southwestern Athabasca Basin, approximately 30 km
east of Nexgen Energy’s Arrow Deposit (256.7 million lb. of U3O8
combined measured and indicated) (Figure 3).
Qualifying Statement:
The foregoing scientific and technical
disclosures for Stallion Discoveries 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 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.
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.
Figure 1: Coffer Property Magnetic Tilt
Angle Derivative
Figure 2: Ford Lake Property Magnetic
Tilt Angle Derivative
Figure 3: Gunter Lake Property Magnetic
Tilt Angle Derivative
Photos accompanying this announcement are available
at:https://www.globenewswire.com/NewsRoom/AttachmentNg/6092ec9f-c1af-4f86-8575-72659e484f8c
https://www.globenewswire.com/NewsRoom/AttachmentNg/8ee0f4a6-294c-4495-9458-099189c18b7b
https://www.globenewswire.com/NewsRoom/AttachmentNg/8efecea7-5ca1-46b7-af20-b9c35c20796c
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