With the addition of the
“We have built an excellent uranium exploration company in the best place on earth to find high grade uranium,” said
In connection with this transition, the Company is pleased to announce the acquisition by staking of the
The Project covers 5.5 kilometres of a northeast trending magnetic low/electromagnetic (EM) conductor corridor which hosts several uranium anomalies, including historical mineralized outcrop grab samples along approximately 900 metres of strike length, grading up to 0.50 wt. % U3O8. Notably, none of the historical uranium occurrences have been drill-tested. Data compilation by the Company has identified multiple target areas for high-grade1 uranium mineralization within metasedimentary and orthogneissic basement rocks. The Project will benefit from additional surface sampling and geophysical surveys to aid in drill target vectoring.
Key Focus Points:
Standard Uranium shifting to broader scope exploration and project generation business model.- Newly staked
Rocas Project contains strong NE-SW magnetic low trend coincident with historical anomalous uranium outcrop samples up to 0.50 wt. % U3O8. - Anomalous lakebed geochemical anomalies that statistically rank as greater than 95th percentile U, Co, V, and Zn along the conductor corridor, in addition to high U/Th ratios.
- Planning for a prospecting, sampling, and mapping program in H2 2023 currently underway.
“The acquisition of the Rocas project provides yet another opportunity for the Company to make a uranium discovery in the eastern
1 The Company considers uranium mineralization with concentrations greater than 1.0 wt% U3O8 to be “high-grade”.
Figure 1. Overview map of Standard Uranium’s eastern
Figure 2. Plan map highlighting the magnetic low/EM conductor trend on the Rocas project coinciding with anomalous grab samples, with first vertical derivative magnetics in the background.
Figure 3. Plan map showing regional bedrock geology of the Rocas project area and EM conductors coincident with anomalous lakebed geochemical samples.
Following the discovery of the
The Company believes the
The scientific and technical information contained in this news release, including the sampling, analytical and test data underlying the technical information contained in this news release, has been reviewed, verified, and approved by
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For further information contact:
Tel: 1 (306) 850-6699
E-mail: info@standarduranium.ca
Cautionary Statement Regarding Forward-Looking Statements
This news release contains “forward-looking statements” or “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements include, but are not limited to, statements regarding: the timing and content of upcoming work programs; geological interpretations; timing of the Company’s exploration programs; and estimates of market conditions.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements are highlighted in the “Risks and Uncertainties” in the Company’s management discussion and analysis for the fiscal year ended
Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company’s actual financial results, performance, or achievements to be materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop forward-looking statements include, without limitation: the future price of uranium; anticipated costs and the Company’s ability to raise additional capital if and when necessary; volatility in the market price of the Company’s securities; future sales of the Company’s securities; the Company’s ability to carry on exploration and development activities; the success of exploration, development and operations activities; the timing and results of drilling programs; the discovery of mineral resources on the Company’s mineral properties; the costs of operating and exploration expenditures; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); uncertainties related to title to mineral properties; assessments by taxation authorities; fluctuations in general macroeconomic conditions.
The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at:
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Figure 1
Overview map of Standard Uranium’s eastern Athabasca projects. The newly staked Rocas Project is highlighted relative to the Wollaston-Mudjatik transition zone and uranium mines, mills, and occurrences. Rocas is located along the Wollaston-Mudjatik transition zone, which is related to multiple high-grade uranium deposits located to the north.
Figure 2
Plan map highlighting the magnetic low/EM conductor trend on the Rocas project coinciding with anomalous grab samples, with first vertical derivative magnetics in the background.
Figure 3
Plan map showing regional bedrock geology of the Rocas project area and EM conductors coincident with anomalous lakebed geochemical samples.
2023 GlobeNewswire, Inc., source