VANCOUVER, British Columbia, March 20, 2024 (GLOBE NEWSWIRE) -- Stallion Uranium Corp. (the "Company" or "Stallion") (TSX-V: STUD; OTCQB: STLNF; FSE: HM40) is pleased to provide a corporate update on Stallion's current exploration efforts. Stallion holds the largest exploration land package in the Southwestern Athabasca Basin and are following their proven roadmap to discovery, learned through decades of exploration in the basin, to increase the probability of finding the next significant uranium discovery in the Athabasca Basin.
Stallion's Maiden Drill Program
Stallion maiden drill program is underway, as announced on March 6th, and continues to be progressing. Stallion has planned 3 holes totaling 3,300m utilizing a diamond core drill to test for uranium mineralization on it's 100% owned Appaloosa target. The target is a ~6 km long EM conductor located along the contact between the Beaverlodge and Taltson geological domains that can create an optimal location for uranium bearing fluid to concentrate. Each of the drill holes are focusing on a coincident gravity and magnetic lows associated with alteration which are known to be associated with uranium deposits. Given that these are the first drill holes on Stallion's projects, data collected from each drill hole is actively being used to adjust and fine tune the next drill hole to enhance the outcomes of uranium mineralization. Stallion will be announcing any anomalous scintillometer results from the program as a preliminary indication of the presence of radioactive materials if they are encountered. Final assay results will be released when available and are expected in the summer of 2024 after lithogeochemical analysis is completed.
Stallion and Atha Energy JV Project
Stallion completed the largest single airborne geophysical survey in the southwestern Athabasca basin, as announced on February 22nd. This survey was able to uncover over 560km of conductive trends, a significant achievement in adding several new high priority target areas that could have the potential to host uranium mineralization. The preliminary results were released from the survey and the team is now working with Convolutions Geoscience to take the data through advanced processing and modeling. The advanced interpretation will allow for Stallion to pragmatically prioritize the key target areas for additional survey work as the target areas move along Stallion's roadmap of discovery. The preliminary data indicate that these additional areas will provide the company with several tier one targets for drill testing.
Gunter Lake Project
Stallion has completed an airborne gravity survey over its 100% owned Gunter Lake project that was announced on January 31st. This survey utilized the latest technology to record the density in the underlying rocks and has now started to be processed. This data when compiled with VTEM survey data over the entire project and MobileMT data over the Coyote target will be interpreted to find the most prospective areas for drill targeting. Providing the company with further high priority target areas and potential drill ready targets.
Upper Mirror River Project
Stallion staked 6 new mineral claims this year, half announced January 17th and the remaining on February 28th, giving the company a new 100% owned, highly prospective project, covering 31,645 hectares. This project was staked to cover the extensions of conductive corridors that were newly discovered as part of the regional airborne survey completed over the Atha JV project. In uncovering unknown conductive trends Stallion continues to build on its advantage of completing the first effective survey work at scale across much of the southwestern Athabasca Basin. Stallion is evaluating the next steps across this project as it believes it will hold several kilometre long conductive corridors and when aligned with magnetic lows signatures are known to correlate with uranium mineralization, providing the company with additional high priority target areas.
Conclusion
Stallion has been executing on its roadmap to discovery by taking a land package of over 3,000 sq/km in the acclaimed yet under-explored southwestern Athabasca Basin from regional survey, all the way through to a maiden drill program. Stallion's vision was to effectively explore at scale, knowing there is a high probability of have a world class uranium deposit in the southwestern Athabasca Basin at the depth's of 300-1,000m, as there are over 1 billion pounds of uranium at the same depth in the eastern Athabasca Basin. Stallion is taking the unexplored southwestern basin through the work done in the 70's and 80's in the eastern basin, only aided with the use of the latest technological advancements. Following the proven roadmap to discovery the company has been able to uncover several high potential target areas from regional surveys. They have now advanced the compelling Appaloosa target through advanced ground surveys and are currently in the process of drill testing. Simultaneously the company is upgrading additional target areas to have multiple tier one targets that all have the potential of hosting a world class uranium deposit.
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 (CSE:SASK), 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 two gold projects in Idaho and Nevada that neighbour world class gold deposits 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
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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.
