Stallion Uranium Receives Exploration Permit for Gunter Lake Uranium Project in the Athabasca Basin
December 20 2023 - 6:00AM
Stallion Uranium Corp. (the
“Company” or
“Stallion”) (TSX-V: STUD; OTCQB: STLNF; FSE: HM40)
is pleased to announce it has received the necessary permits from
the Saskatchewan Government to conduct ground-based geophysics and
diamond drilling exploration work on its 100% owned Gunter Lake
(“
Gunter Lake” or the “
Project”)
Uranium Project in the Athabasca Basin, Saskatchewan.
Highlights
- The company is planning for a
targeted ground geophysics survey to commence in H1/2024.
- Permitted activities include access
trail construction, temporary camp establishment, geophysical
surveying, and diamond drilling.
- Permits are valid until Dec 6,
2026, allowing for multiple seasons of geophysical surveying and
drill testing.
“This permit is a further expansion of Stallion
Uranium’s efforts to unlock the next significant uranium discovery
in the Athabasca Basin,” stated Drew Zimmerman, CEO of Stallion
Uranium. “We continue to work towards advancing high-potential
uranium assets in the prolific South-Western Athabasca Basin. The
Basin is globally recognized for its uranium resources at time when
western nations need to work together to advance projects with the
potential to fuel a cleaner energy future.”
The exploration permit is a significant step in
advancing the Gunter Lake Project towards drilling. The project is
ideally situated adjacent to NexGen’s SW2 Project which hosts the
prolific Arrow Deposit. NexGen recently announced their
comprehensive drill program targeting the massive 45 km long R7
corridor and the Morrow corridor which hosts 10 km of untested
geophysical targets (see NexGen news release Dated June 12, 2023).
Both targets are located proximal to the Gunter Lake Project. The
R7 corridor is located 2 km west and Morrow corridor is located to
the Southeast of the project with the Morrow Corridor trending onto
Gunter Lake claims. Stallions’ exploration in the area confirms the
confidence to advanced exploration on the Gunter Lake project. The
project represents not only a strategic investment for our company
but also contains the potential to host the next significant
uranium discovery.
About Gunter Lake Project
The 100% owned Gunter Lake Project 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). A VTEM™ Plus Survey was completed on the
property over the winter at the start of 2023 to cover the entirety
of the property. The company worked with Condor Consulting for
advanced data processing.
The company plans to follow-up geophysical
anomalies identified with Stallion’s ongoing AFMAG survey. The
project has never been drill tested and contains several
kilometer-scale prospective zones within the primary target areas
identified as the Coyote Target. The highly prospective Coyote
target will be the focus of the up-coming exploration programs as
the Company has magnetic lows on a conductive corridor known to
correlate to alteration that hosts uranium mineralization.
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
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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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