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Standard Uranium Ltd. ("Standard Uranium" or the "Company") (TSX-V: STND) (OTCQB:STTDF) (Frankfurt: FWB:9SU) is pleased to announce that mobilization of the Standard Uranium exploration team and the Geotech drilling crew has commenced to the Company's flagship 25,886 hectare Davidson River Project, (the "Project" or "Davidson River") located in the Southwest Athabasca Uranium District of Saskatchewan 25 km to 30 km to the west of Fission Uranium's Triple R and NexGen's Arrow deposits. The Company is planning to drill 10,000 metres of diamond drill core to follow up on the results of recent drilling this past winter. This program will test the previously drilled Warrior and Saint trends and will branch out to test the Thunderbird and Bronco trends for the first time.
Phase II Summer Drilling Program Summary :
- Objective is to make a basement hosted high-grade uranium discovery,
- 10,000 metres in approximately twenty (20) drill holes planned,
- Drilling to commence first week of June, 2021,
- Follow-up drilling on the Warrior and Saint corridors with vectoring information gained during the 2020 Phase I and 2021 Phase II winter programs (See Figure 1),
- Exploring two new corridors, Bronco and Thunderbird (See Figure 1), through drill testing offsets and flexures along major conductive corridors searching for: radioactivity, alteration, structure, and graphite-rich and sulphide-rich shear zones,
- Increasing the geological knowledge and discovery potential of the Davidson River Property through collection and interpretation of technical information from strategically planned drill holes.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c6140524-e10d-447a-94fc-37c2de449134
Appointment of VP of Exploration, plus Key Additions to Technical Team:
Mr. Sean Hillacre has been appointed Vice President of Exploration for the Company. This past year Mr. Hillacre has been a project geologist with Standard Uranium and has been instrumental in running the Davidson River drill programs and expanding the geological understanding on the Project. Prior to joining Standard Uranium, Mr. Hillacre spent five years working with NexGen Energy as an exploration geologist as part of the technical team progressing the Arrow uranium deposit towards production in the Athabasca Basin uranium district in Saskatchewan. He brings a unique and balanced background integrating academic geoscience with industry experience, along with a comprehensive understanding of project development. Mr. Hillacre is a licensed Professional Geoscientist and holds a B.Sc. and M.Sc. in Geology, both from the University of Saskatchewan.
Mr. Neil McCallum has been appointed Lead Technical Director and will continue to direct our technical team and advise Sean Hillacre in his new role as Vice President of Exploration. Mr. McCallum has been an integral part of Standard Uranium since its inception as a Director and VP of Exploration. His breadth of experience conducting exploration programs and evaluating projects in the Athabasca Basin region and other uranium districts will continue to add value to the Company.
Additionally, the Company announces the expansion of its technical team through the engagement of geologists Mr. Mason Ermel, Mr. Ezra Meszaros, and Mr. Robert Meek. All three additions to the technical team are experienced field geologists with backgrounds in uranium exploration and academia. Mr. Ermel has worked as a uranium geologist on two of the largest undeveloped high-grade uranium deposits in the Athabasca Basin with Denison Mines and NexGen Energy. Mr. Ermel brings diverse experience to the team through his involvement with projects ranging from green fields exploration to geotechnical project development. Mr. Meszaros has 5+ years of experience working with Orano Canada and has been involved in several uranium exploration projects across the Athabasca Basin. Mr. Meszaros brings a diverse skill set to the team with knowledge of geological interpretation, statistical analysis, and remote logistics. Mr. Meek is the former District Geologist for Southern Ontario and has worked for multiple junior exploration companies. He completed his B.Sc. and M.Sc. in Geology at Laurentian University focusing on uraninite mineralization from the Otish Basin in Quebec, and the sedimentology and stratigraphy of the Husky Creek Formation in Nunavut, respectively. The new additions to the Standard Uranium team bring a balanced approach to exploration strategies drawing from academic, government, and industry experience.
Jon Bey, President and CEO comments "As we embark on our largest drill program to date it gives me great pleasure to promote Sean Hillacre into the role of VP Exploration. He has added three very skilled and experienced geologists to our team, and I look forward to seeing them all in action at our Davidson River drill program. I would also like to thank Neil McCallum for his continued leadership. He is not only a technically talented geologist but also a strong mentor and under his guidance I am confident all our geologists will flourish and develop.
The scientific and technical information contained in this news release has been reviewed and approved by Sean Hillacre, P.Geo., VP Exploration of the Company and a "Qualified Person" as defined in NI 43-101.
About Standard Uranium (TSX-V: STND)
We find the fuel to power a clean energy future.
Standard Uranium is a mineral resource exploration company based in Vancouver, British Columbia. Since its establishment, Standard Uranium has focused on the identification and development of prospective exploration stage uranium projects in the Athabasca Basin in Saskatchewan, Canada. Standard Uranium's Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, is comprised of 21 mineral claims over 25,886 hectares. The Davidson River Project is highly prospective for basement hosted uranium deposits yet remains relatively untested by drilling despite its location along trend from recent high-grade uranium discoveries. A copy of the 43-101 Technical Report that summarizes the exploration on the Project is available for review under Standard Uranium's SEDAR profile ( www.sedar.com ).
For further information contact:
Jon Bey, President, Chief Executive Officer, and Chairman
550 Denman Street, Suite 200
Vancouver, BC V6G 3H1
Tel: 1 (306) 850-6699
E-mail: info@standarduranium.ca
Cautionary Statement Regarding Forward-Looking Statements
This news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute "forward looking statements", which are not composed of historical facts. Forward-looking statements may be identified by such terms as "believes", "anticipates", "intends", "expects", "estimates", "may", "could", "would", "will", or "plan", and similar expressions. Specifically, forward looking statements in this news release include, without limitation, statements regarding: the timing and content of upcoming work programs; timing of geochemical results; geological interpretations; and estimates of market conditions. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events, performance, or achievements of the Company to differ materially from those anticipated or implied in such forward-looking statements. The Company believes that the expectations reflected in these forward-looking statements are reasonable, but there can be no assurance that actual results will meet management's expectations. In formulating the forward-looking statements contained herein, management has assumed that business and economic conditions affecting the Company will continue substantially in the ordinary course and will be favourable to the Company. Factors that may cause actual results to differ materially from those anticipated by these forward looking statements include: the ability to commence and complete work on the Davidson River Project given the global COVID-19 pandemic; changes in equity markets; the Company's ability to raise additional capital if and when necessary; and other factors as described in detail in the Company's annual information form dated September 28, 2020 and other public filings, all of which may be viewed on SEDAR (www.sedar.com). Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
Neither 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.
Figure 1. Location Oasis project
Figure 2. Simplified Regional Geology