Stallion Uranium Corp. (the
"Company" or
"Stallion") (TSX-V: STUD; OTCQB: STLNF; FSE: HM40)
is pleased to announce crews have mobilized to conduct a
ground-based time-domain electromagnetic (TDEM) geophysical survey
over the high priority Appaloosa Target on its 100% owned Coffer
Uranium Project ("
Coffer” or the
"
Project") in the prolific Athabasca Basin,
Saskatchewan. Stallion continues to execute on its strategy of
completing regional surveys over its expansive land package that
provide high priority target areas requiring higher resolution
surveys to prepare for and enhance the probability of drilling
success.
Highlights
- The Geophysical crew are mobilizing
to the Coffer Project for the initiation of a Ground TDEM
survey.
- The detailed ground EM survey will
utilize SQUID (Superconducting Quantum Interference Device)
technology.
- The survey is designed to further
define conductors at depth and with high resolution over the target
area.
- The survey area will focus on the
Appaloosa Target of the Coffer Project in preparation for the
Company’s maiden drill program.
Darren Slugoski, VP of Exploration Canada
commented on the significance of this survey, "Our decision to
undertake a Ground TDEM survey follows our commitment to employ
industry leading and innovative technologies in our exploration
efforts. The Athabasca Basin is renowned for its uranium endowment
and we believe that this survey is an invaluable step in our
ability best determine the highest-potential drill targets, greatly
enhancing the company’s potential of making a discovery.”
The Appaloosa target hosts a ~3km long
conductive corridor with coincident geophysical anomalies including
magnetic low and gravity low signatures. These geophysical
signatures have been related with high grade uranium mineralization
including UEC’s Shea Creek, that lies straight east of the
Appaloosa target zone, and NexGen’s Arrow deposit. The complexities
seen in the magnetic and electromagnetic signatures have the
potential to trap high grade uranium.
Figure 1: North End Stallion Uranium’s Coffer
Project
Coffer Geophysical Survey
Stallion Uranium has engaged Discovery
International Geophysics Inc (“Discovery”) for the
ground TDEM survey over the Appaloosa Target on the Coffer Project
as outlined in Figure 1. The Company anticipates that the survey
results will not only contribute to refining its current
understanding of the geological structures on the Project but also
in identifying discrete drill targets with greater precision.
Discovery is a wholly owned division of Dias
Geophysical Ltd., a leading geophysical services company bringing
expertise and state-of-the-art equipment to ensure the success of
the survey. Discovery will utilize a low temperature (liquid helium
cooled) super conductor technology called Jessy Deep SQUID that has
been developed specifically for mineral exploration and resolving
conductors at extremely low-frequencies.
About Coffer Project
The Coffer Project is comprised of 8 mineral
claims that cover 35,875 hectares of highly prospective ground in
the Western Athabasca Basin. The project has never been drill
tested and contains several kilometer-scale prospective zones
within the key target areas identified as Appaloosa, Clydesdale and
Mustang. The Appaloosa target is the focus of the up-coming
exploration programs as the Company has identified gravity and
magnetic lows on a conductive corridor known to correlate to
alteration that hosts uranium mineralization. The highly
prospective target area shares geological analogues to the nearby
Shea Creek deposit, home to over 95M lbs. of uranium.
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 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 ZimmermanChief Executive
Officer778-686-0973info@stallionuranium.com
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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/d225467f-e43d-442c-b80f-7669037bb2c8
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