Standard Uranium to option Atlantic Project in Athabasca Basin, Canada

Published by Jane Bentham,
Editorial Assistant

Global Mining Review,

Standard Uranium Ltd. has announced that it has signed a definitive option agreement, dated 16 February 2024, with ATCO Mining Inc., an arms-length company listed on the Canadian Securities Exchange.

Pursuant to the Option Agreement, the Optionee has been granted the option to earn a 75% interest over three years in the 3061 ha. Atlantic Project located in the eastern Athabasca Basin. The Option Agreement gives effect to the term sheet previously signed with ATCO Mining Inc., dated 9 February 2024.

Jon Bey, CEO and Chairman, commented, “The company is pleased to welcome the ATCO Mining team to the Athabasca Basin, Saskatchewan. We are excited to confirm the Atlantic project will have three partner-funded years of exploration run by our technical team. The Atlantic project has exceptional potential for a high-grade unconformity-related uranium discovery, and we are looking forward to kicking off the 2024 exploration season with the Atlantic drill programme in the immediate future.”

“Our technical team and new partners at ATCO are excited to begin drilling the Atlantic project imminently, exploring for high-grade unconformity-related uranium mineralisation. Our exploration thesis and targeting strategy in this booming district has been reinforced by high-quality geophysical interpretations, and all key vendors and personnel are in place to test our first batch of targets this winter,” said Sean Hillacre, President and VP Exploration for the company.

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