Stallion Uranium Corp. (the
"Company" or
"Stallion") (TSX-V: STUD; OTCQB: STLNF; FSE: HM40)
is pleased to announce the preliminary results from the completion
of the MobileMTTM airborne geophysical survey (the
“
Survey”). The Survey covered the entire 2,200
sq/km of the Atha Energy (CSE: SASK) JV Uranium Project (the
“
Project”), a new frontier of exploration in the
prolific southwestern Athabasca Basin and part of the largest
exploration land package held by Stallion.
Highlights
- Over 560 km of new basement
conductive trends have been outlined.
- Successfully identified and
extended the Patterson Lake Corridor, Carter Corridor, Derkson
Corridor, R7 Corridor, Virgin River Conductive Trend and the Coyote
Corridor across the project.
- Large multi-kilometer conductive
trends coincide with basement structures interpreted to be present
in multiple locations across the project.
- The latest in 2D and 3D inversion
processing will be utilized to further identify sandstone and
basement alteration zones associated with uranium mineralization in
the basin.
“Stallion’s strategy to build out the largest
exploration land package, taking on a new frontier of exploration
in the southwestern Athabasca Basin, has been rewarded with the
results of this regional survey,” stated Drew Zimmerman, CEO.
“Utilizing the latest survey technology we have transformed an
underexplored land package, uncovering hundreds of kilometers of
conductive trends that are highly prospective target areas for
uranium mineralization. Not only have we extended known prolific
conductive corridors, but we have also been able to uncover
completely new zones. We believe the process of identifying,
prioritizing, and advancing the best targets from over 2,200sq/km
gives our team the potential and probability of finding the next
significant uranium discovery.”
Preliminary Results
The preliminary interpretation of the survey
data has changed the landscape in a meaningful way, successfully
identifying over 560 km of new conductive trends across the Atha
Energy JV Project. This opens a new frontier of exploration in the
southwestern Athabasca Basin, as the project area has never had
effective exploration. With the completion of the survey, the
company has been able to identify and extend new conductive
corridors that were previously unknown (shown in Figure 1). These
new conductive corridors will be the cornerstone that the next
phase of exploration is built on. The survey was able to identify
structural complexities, including bends and splays, in the
basement geology which suggest favorable conditions for uranium
mineralization. These results, along with the advanced 2-D and 3-D
inversion modeling, will be used to prioritize the newly identified
conductor corridors for the next stages of exploration.
Darren Slugoski, VP of Exploration commented,
“We are incredibly excited to see the quality and number of targets
that were identified by the completion of the regional MobileMT
survey. The 560 km of conductive corridors identified greatly
exceeded our expectations. This survey provides Stallion with a
significant number of high priority target areas the company can
prioritize and advance towards the drilling.”
Figure 1 – Stallion / Atha’s
Western Athabasca Project – AFMAG Survey Results
Survey Objectives
Expert Geophysics Ltd.
(“Expert”) completed 11,875 line-kilometres of
MobileMTtm covering the entirety of Stallion’s Atha Energy JV
Project in the Southwestern Athabasca. The objective of the survey
was to identify new conductive trends over claims which have not
been effectively or thoroughly surveyed for uranium. Stallion’s
goal was to identify and open new highly prospective areas for
uranium exploration.
Basement and unconformity-related uranium
deposits in the Athabasca Basin are usually associated with
conductive graphitic rocks in the basement which are detectable
with the helicopter-borne MobileMT™ system. MobileMT is the latest
innovation in airborne electromagnetic technology and the most
advanced generation of airborne AFMAG technologies utilizing
naturally occurring electromagnetic fields which are capable of
detecting the conductivity of basement rocks to a depth of over
1,000 meters.
Next Steps
Stallion will now be putting the AFMAG data
through advanced digital processing, including 2D and 3D
inversions. This advanced modeling of the data will allow for a
better analysis and prioritization of the numerous conductive
trends uncovered across the project. The top tier areas will be
prioritized for further exploration as the company looks to advance
tier one targets toward readiness for drilling testing in its
efforts to find the next significant uranium deposit in the
Athabasca Basin.
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/02a6f96d-e7fe-4151-a90a-0d17f6d4a6f6
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