VANCOUVER, British Columbia, Sept. 11, 2024 (GLOBE NEWSWIRE) -- Stallion Uranium Corp. (the "Company" or "Stallion") (TSX-V: STUD; OTCQB: STLNF; FSE: FE0) is pleased to provide an exploration update outlining 9 high priority target areas discovered across its land package in the prolific Southwestern Athabasca Basin. The targets highlighted are the compilation of all available data from surveys completed by the company that have allowed for the identification of previously unknown high priority targets. The company is continuing to undertake survey programs that will work to further upgrade these target areas and help prioritize them for advanced exploration and drill testing.
Key Exploration Highlights
- Uncovered over 600km of prospective conductive corridors
- Outlining only high priority targets from over 3,000 sq/km of prospective land
- Discovered 9 Tier One target areas across land package
- Successful maiden drill program following Exploration Funnel, near term discovery potential
“Stallion’s vision to discover the next significant uranium deposit in the Athabasca Basin is well underway,” said CEO Drew Zimmerman “We acquired over 3,000 sq/km of highly prospective, yet vastly underexplored ground in the southwestern basin that borders industry majors like Cameco, Orano, Uranium Energy Company, NexGen Energy, and Fission Uranium. With the utilization of the latest exploration technology, we have transformed our ground from an unknown expanse into a land package that hosts not one, two or three areas with the potential for a world class deposit, but the nine being highlighted today!”
Overview
Stallion has covered every square kilometre of their land package with regional airborne surveys to uncover the most prospective conductive corridors. These conductive corridors are the “plumbing” network for uranium deposits that are detectable through airborne surveys in the Athabasca Basin. The company has continued their survey work, continuing to layer on more new data, which has allowed the company to highlight 9 tier one target areas that hold significant potential for discovery.
At the beginning of this year Stallion took huge strides, moving from early-stage exploration to the advanced stage with its maiden drill program. As the company implemented its exploration funnel, the Appaloosa target moved to the top of the list for drill testing, yielding great initial success in completing its objectives. The technical success that came from the first target has bolstered the company’s confidence. With 8 additional tier one targets moving through the exploration funnel Stallion’s opportunity, and probability, of making a significant uranium discovery continue to grow.
Figure 1 – Stallion’s Target Locations
Darren Slugoski, Vice President Exploration said, “The targets have been developed from the integration of the results from our new geophysical surveys and drilling, along with historical data and interpretations. The target criteria included geophysical signatures, geological/structural setting, proximity to historical uranium occurrences. The targets identified have limited drilling and represent a significant opportunity to locate all three uranium deposit types, perched, unconformity or basement hosted deposits.”
Stallion’s Highlighted Tier One Targets
Appaloosa Target
- Verified graphitic conductor with drilling, which is hosted in a gravity and magnetic low, an indication of alteration known to correlate with uranium mineralization.
- Intersected conductive structure over 94.7m wide, verifying the target as a top priority for follow-up drilling as the size of the structure can host a large deposit.
- Encountered above background radioactivity near the unconformity and in graphitic structure as well as geochemical enrichment and hydrothermal alteration.
- Along the edge of the deep-seated Beaverlodge and Taltson Domains
- Clear analogs to the Shea Creek Deposit only 13km to the west
Figure 2 – Stallion’s Appaloosa Target
Fishhook Target
- Stallion project hosts 18 kms of the Fishhook Trend that has never been drill tested.
- Structurally complex conductive trend that bifurcates into the Five of Diamonds Trend, evidence of massive structural corridor for “trapping” potential uranium mineralization
- Fishhook Occurrence consists of historical drillhole FH-07 which intersected 0.139% U3O8 occurring 8 kms south of the property edge.
Figure 3 – Stallion’s Fishhook Target
Coyote Target
- Coyote corridor hosts uranium mineralization in historic drillhole KLL-3 (255 ppm U3O8, 127 ppm U3O8).
- The conductor occurs as an East-West trending anomaly cutting across the claim block.
- Contains complex structures identified in the geophysics.
- Estimated thickness of Athabasca Sandstone is 450 metres.
Five of Diamonds Target
- Very long conductive length of 30 km.
- Conductor is hosted in a magnetic low.
- Untested with Drilling.
- 16 km west from Cameco’s Centennial Deposit.
R7 North Target
- MobileMT survey identified 15 km long R7 Corridor crossing 3 claims
- The R7 North Target hosts the strongest conductive anomaly identified with Stallions 2023 MobileMT.
- The corridor occurs along the southern contact of the Patterson Lake Shear Zone.
- NexGen is conducting drilling operations along the R7 Corridor.
- World class neighbors (Cameco and NexGen Energy) activity with active exploration programs.
SL1 Target (Sandy Lake Property)
- 11km west of Shea Creek and Cluff Lake Mine.
- Occurs near the Harrison Fault which marks the boundary between two large lithological domains (Beaverlodge and Taltson Domains).
- The conductor interacts with the radial structures developed from the nearby Carswell structure making it a compelling target for follow-up work.
- The structural complexity identified are prime locations for uranium deposits.
- Large multi-kilometer conductive trends coincide with basement structures interpreted to be similar to structures at Shea Creek and Cluff Lake Mine.
Holsteiner Target
- Recently identified with 2023 MobileMT survey.
- Conductor trends from F3’s Minto Property (previously known as the Patterson Lake North Property).
- Extremely close to hydrothermal heat source (Clearwater Domain).
Mustang Target
- Located at the southern tip of the Appaloosa Corridor.
- Branches off the deep-seated Beatty River Fault.
Clydesdale Target
- The target branches off the Appaloosa Corridor.
- Target occurs in a magnetic and gravity low.
Stallion has been able to highlight these 9 tier one targets areas from the interpretation of the electromagnetic survey data and historical exploration datasets. Each target area is unique in its degree of historical exploration work that helps guide future programs. Stallion is continuing to upgrade and optimise the target areas to prepare each of them for drill testing. The company’s maiden drill program on the Appaloosa target is the only drilling to occur on Stallion’s land package. At Appaloosa, the company’s objective is to follow-up the results from winter drilling which intersected anomalous radioactivity and the graphitic conductor in the final hole of the season. Coyote, Fishhook, Five of Diamonds and R7 North targets are the next stage of priority targets discovered from the recent MobileMT survey. Future exploration of these target areas will consist of additional airborne surveys to upgrade and refine the targets before launching high resolution ground electromagnetic surveys for precise drill targeting.
For more information on the priority targets view the updated corporate presentation: https://www.stallionuranium.com/investors/presentations/
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 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 the Horse Heaven gold project in Idaho that neighbours the world class Stibnite Gold deposit, offering exposure to upside potential from district advancement with limited capital expenditures.
For more information visit stallionuranium.com or contact:
Drew Zimmerman
Chief Executive Officer
778-686-0973
info@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.
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