VANCOUVER, British Columbia, Aug. 21, 2024 (GLOBE NEWSWIRE) -- Stallion Uranium Corp. (the "Company" or "Stallion") (TSX-V: STUD; OTCQB: STLNF; FSE: FE0) is pleased to announce the results of an airborne gravity survey over sections of the companies Southwestern Athabasca Basin JV Project with Atha Energy (“Atha”)(TSX-V:SASK) in northern Saskatchewan. The survey results reveal promising gravity anomalies that are associated with possible uranium alteration and prospective rock types highlighting more prospective target areas for Stallion.
Darren Slugoski, VP Exploration stated, “We are highly encouraged by the gravity survey results from our Southwestern Athabasca Basin Joint Venture Project. The central gravity anomaly has a strong correlation with the uranium bearing Patterson Lake Trend which adds to the prospectivity of targets of the stronger Northern and Southern gravity anomalies.”
Key Findings from the Gravity Survey:
- Significant Correlation: The survey detected the central gravity low which correlates to the mineralized Patterson Lake trend which hosts the world class Triple R and Arrow Deposits.
- Significant Anomalies: The four anomalies were identified and correspond to subsurface zones that were previously identified as high priority areas.
- Future Exploration Plans: Based on these positive results, the company is able to further prioritize these targets in conjunction with other available datasets for further exploration.
The completed gravity survey is another step forward in the company’s ability to prioritize prospective targets across its large land package. The information gained from the gravity survey builds further confidence in its targets as the company compares the targets to known deposits in the area that share similar gravity features and anomalies. The Northern and Southern gravity anomalies shown in Figure 1 are the strongest and are associated with conductive corridors that were identified in the previous MobileMT survey. The gravity survey signals the density of the rock, and the gravity lows may represent more alteration which are commonly associated with world class uranium deposits. This survey was an important survey in the discovery of NexGen’s Arrow deposit on the nearby Patterson Lake Trend.
The added data from the completed gravity survey furthers the company’s understanding of the previously underexplored land package. All the compiled and modeled data provides valuable information for the next stages of exploration as the company continues to focus in on the very best target areas available, increasing the probability of a uranium discovery.
The Gravity Survey Parameters
The gravity survey, conducted over a 637-square-kilometer area, was designed to identify subsurface density variations typically associated with uranium-bearing deposits. This non-invasive geophysical method was implemented to better define priority target areas and is a key indicator used in locating the world-class uranium deposits in the region.
Axiom Exploration Group carried out a high resolution Xplorer™ NxT gravity survey, flown using the NxT Helicopter Gravimeter and Magnetic system on an AS350B2 helicopter platform. NxT includes NRG’s patented split ring laser gyro and NRG’s patented Active Thermal Control System (ATCS) greatly improves the drift characteristics and performance. The survey consisted of 1 block, totaling 4,277 line-kms with a traverse line spacing of 200 m and tie line spacing of 2000 m.
Figure 1 – Gravity Results at 600m below surface. Highlighting the gravity low anomalies in blue.
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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4d3dd695-e0ea-4d7a-8b1f-45e9a88a10fe
