Standard Uranium reached agreement to option its Atlantic Project in the Athabasca Basin
February 20, 2024 at 10:58 am EST
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Standard Uranium CEO Jon Bey joined Steve Darling from Proactive to unveil a significant development for the company: the signing of a term sheet with ATCO Mining, enabling them to acquire a seventy-five percent interest in the 3,061-hectare Atlantic Project situated in the eastern Athabasca Basin.
This marks the company's fourth option agreement and positions Standard Uranium as the operator of the project. With over thirty million dollars committed to exploration programs over the next three years and nine million dollars dedicated to exploration in 2024, Standard Uranium is poised for significant advancement.
In addition to this milestone, Bey disclosed that the company has made another strategic move through the acquisition of the Harrison uranium exploration project in the southwest Athabasca Basin region of Northern Saskatchewan.
Through staking, the Ascent project has been expanded by 3,728 hectares, effectively doubling its size. This expansion brings the company's ownership interests to eleven exploration properties, totaling over 209,867 acres across the uranium-rich Athabasca Basin.
Notably, the Harrison project presents a compelling opportunity as it has never undergone drill testing, offering Standard Uranium additional exploration exposure in the southwest Athabasca uranium district.
These developments underscore Standard Uranium's strategic focus on expanding its exploration portfolio and advancing its presence in key uranium-rich regions. With a robust exploration budget and an expanded project portfolio, the company is well-positioned to capitalize on opportunities in the uranium market. Stay tuned for further updates as Standard Uranium continues its exploration efforts and seeks to unlock significant value for its stakeholders in the dynamic uranium sector.
Contact Details
Proactive Canada
+1 604-688-8158
action@proactiveinvestors.com
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Copyright (c) 2024 TheNewswire - All rights reserved., source Press Releases
Standard Uranium Ltd. is a uranium exploration company. The Company has interests in 11 exploration properties, totaling over 209,867 acres across the Athabasca Basin. Its projects include the Davidson River Project, Sun Dog Project, Ascent Project, Atlantic Project, Canary Project, Rocas Project, Corvo Project, Cable Bay Southwest, Ox Lake, Brown Lake Project and Harrison project. The Davidson River property is in the southwest Athabasca uranium district of the Athabasca Basin, Saskatchewan and consists of 10 contiguous mineral dispositions totaling 30,737 hectares (ha). The Atlantic project consists of seven mineral dispositions totaling 3,061 ha. The Canary project comprises two mineral dispositions totaling 7,303 ha. The Rocas project comprises three mineral dispositions totaling 3,152 ha. The Corvo project consists of 10 mineral dispositions totaling 7,989 ha. The Ox Lake Project consists of one mineral claim totaling 397.5 ha. The Harrison project comprised two mineral claims.