Stallion Uranium Corp. (the
"Company" or
"Stallion") (TSX-V: STUD; OTCQB: STLNF; FSE: HM40)
is pleased to announce that it has encountered anomalous
radioactivity in the second completed hole of the Company’s maiden
drill program on its 100% owned Coffer Project in the prolific
Southwestern Athabasca Basin in Saskatchewan, Canada.
Highlights
- Hole CF24-002 encountered anomalous
radioactivity near the unconformity in the Athabasca Sandstone of
333 cps over 3.4 m including 0.4 m at 664 cps with a peak of 771
cps (Counts per Second)
- Hole CF24-002 hit the unconformity
at 736.2 m and completed at a depth of 914 m.
- CF24-002 is located 700 m west
along strike from CF24-001.
- Stallion holds a 100% ownership of
the project.
“We are thrilled to continue to encounter
anomalous radioactivity along the Appaloosa trend,” said Darren
Slugoski, Vice President Exploration, Canada. “CF24-002 was able to
reaffirm radioactivity at the unconformity previously intersected
in drill hole CF24-001 as well as demonstrate the fertility of the
Appaloosa target and its potential to host a significant deposit.
With each drill hole we continue to make significant strides in
understanding the geology and structure of the target area.”
Technical Summary for
CF24-002(Zone 12 V 598869 Easting, 6457227 Northing, 0000
Azimuth / Dip -850)
CF24-002 is located 700 metres west of CF24-001
(Figure 1) and is targeting an EM conductor located within a
gravity low. CF24-002 was a large step-out that was successful in
following up radioactivity intersected in CF24-001. Anomalous
radioactivity was encountered in the Athabasca Sandstone at the
unconformity with radioactivity of 333 cps over 3.4 m including 644
cps over 0.3 with a radioactive peak of 771 cps. Radioactivity is
associated with bleaching, hematite and stockwork fractures. A
RS-230 BGO Super-SPEC Handheld Gamma-Ray Spectrometer measured a
radioactive peak of 120 counts per second ("cps") and a Mount
Sopris 2PGA-1000 downhole gamma probe measured a radiometric peak
of 771 cps at 735.2 m depth. The unconformity was intersected at
736.2 m, which is 26.4 m shallower than the unconformity in
CF24-001. Basement oriented structural measurements taken from
CF24-001 indicate that the geology is dipping to the south and to
properly test the geology CF24-002 was drilled facing north.
“Our technical team is continuing to deliver
positive results along the Appaloosa target, which is extremely
promising," asserted Drew Zimmerman, CEO. "Each drill hole is
providing valuable information as we further our understanding of
the target area. It is truly thrilling to see such insights from
our maiden drill program. We know uranium deposits are likened to a
pearl necklace, we are currently on the string tracking towards our
pearl!”
Table 1: Downhole Total Gamma
Results from CF24-002
Hole Number |
From (m) |
To (m) |
Width (m) |
Avg. cps |
Peak cps |
Rock Type |
CF24-002 |
733.1 |
736.5 |
3.4 |
333 |
771 |
Sandstone |
Including |
735.1 |
735.5 |
0.4 |
644 |
771 |
Sandstone |
Hole CF24-003
The third hole of the drill program is already
underway. The collar of the hole is a further step out of 700 m to
the west of the second hole. This drill hole will continue to test
the extent of radioactivity at the unconformity intersected in
drill holes CF24-001 and 002. Drill hole CF24-003 is also designed
will provide geological information for the western edge of the
Appaloosa target area and to support observations made in CF24-001
and 002.
Appaloosa Target
The Appaloosa target is located at the north end
of the 100% owned Coffer project and was first identified from the
regional VTEM survey conducted in early 2023. The survey data when
compiled and modeled with all available historical data showed the
key characteristics for potential uranium mineralization. To best
refine drill targets Stallion utilized the latest technology to
complete an advanced ground TDEM survey over the target area.
Further bolstering confidence in the target, the Shea Creek deposit
(Orano/UEC) of over 93M lbs. is only 13km west of the target area
highlighting the uranium endowment in the area. The company has
completed plate modeling for exact drill targets. This 3-hole,
3,000 meter drill program at Appaloosa marks the companies first
drilling campaign in its efforts to discover the next significant
uranium deposit in the Athabasca Basin.
The Coffer Project is located 224 km north of
the community of La Loche and is accessible via highway 955. The
accommodations are located 15 km away from the drill site and is
accessible by drill trails. The Company has secured all necessary
permits and approvals for the Program.
Gamma Logging and Geochemical
Assaying
All core radioactivity was measured using a
RS-230 BGO Super-SPEC Handheld Gamma-Ray Spectrometer. Down hole
probing radiometric surveying was conducted with a Mount Sopris
2PGA-1000 downhole total gamma probe. The total gamma results
provided in Table 1 were selected using a cut-off of 300 cps over a
0.3 metre downhole width.
All drill core samples from the 2024 program
will be shipped to the Saskatchewan Research Council Geoanalytical
Laboratories ("SRC") in Saskatoon, Saskatchewan, an ISO/IEC
17025/2005 and Standards Council of Canada certified analytical
laboratory. Stallion Uranium requests multi-element analysis by
ICP-MS and ICP-OES using total (HF:NHO3:HClO4) and partial
digestion (HNO3:HCl), boron by fusion. One half of the split core
samples are retained and the other half cores are sent to the SRC
for analyses. Blanks, standard reference materials, and repeats are
inserted into the sample stream at regular intervals by Stallion
Uranium geologists and SRC in accordance with industry-standard
quality assurance/quality control ("QA/QC") procedures.
All reported depths and intervals are drill hole
depths and intervals, unless otherwise noted, and do not represent
true thicknesses, which have yet to be determined. The reader is
cautioned that gamma probe readings are not directly or uniformly
related to uranium grades of the rock sample measured and should be
used only as a preliminary indication of the presence of
radioactive materials.
Figure 1. Drill Hole Location
Map
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, with JV partner Atha Energy (CSE:SASK),
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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/03530938-ade8-44af-9404-552e37b6da91
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