(via TheNewswire)
The Project is currently under option (the “Option”) with Standard Uranium Ltd. (the “Optionor”)an arms-length company listed on the
Highlights:
Uranium Mineralization Confirmed:Analytical results from the winter 2024 drill program at the Project confirmed highly anomalous uranium in drill holes ATL-24-002, ATL-24-004A, and ATL-24-005A, coinciding with prospective structural zones and favorable alteration includingdravite-rich clays
Sandstone Basement-Hosted Uranium:Multiple zones of elevated uranium linked to the sub-
Athabasca unconformity and basement structural zones were intersected, indicating a uranium-fertile system.Uranium Pathfinders:Several key uranium pathfinder elements are present in anomalous quantities in multiple drill holes, providing vectoring information for future programs. Intersections of dravitic-clay associated with structural zones has been confirmed in drill holes ATL-24-002, ATL-24-004A, and ATL-24-005A.
Verified Targets:Massive structural disruption confirmed in the sandstone column and multiple wide (10 metres) brittle-reactivated graphitic shear zones confirm the main interpreted electromagnetic (“EM”) corridor on the western claim block which was not reached by previous operators. The inaugural program results have confirmed the Company’s exploration thesis on the Project, highlighting a uranium-fertile system with several kilometres of still untested strike length across the Project.
Follow Up Targets Next Steps:
Atlantic holds significant upside for discovery along the untested portions of the E-W conductor system. Supplementary geophysical surveys over the central claim blocks are currently being planned and will provide further target areas for phase II and III drilling, along with the additional untested gravity low anomalies on the western block identified in 2022.
“The intensity and scale of the dravite alteration in combination with the confirmed elevated uranium has me very encouraged with this modestly size initial drilling on Atlantic” says
“I am extremely excited with the drill results of this first phase” says
The
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Figure1. Regional summary map of the
Winter 2024 Drill Program Analytical Highlights:
The winter 2024 drill program comprised 3,316 metres of diamond drilling across 5 drill holes (Table 1). Inaugural drilling intersected the key characteristics of a uranium-bearing mineralized system in previously untested “Target Area A” (Figure 2), confirming the presence of a significant graphitic fault system in the basement rock linked touranium mineralization and prospective hydrothermal alteration at the unconformity and in the basement rock. Uranium analytical highlights are summarized in Table 2 and anomalous uranium pathfinder elements highlights are summarized in Table 3.
The highly prospective drilling results are visually summarized in schematic cross-sections highlighting dravite alteration, structure, and uranium results intersected during the inaugural drill program in Figures 3 and 4.
The drill program was designed to follow up on highly anomalous uranium results returned from drill hole BL-16-32, in addition to testing the newly outlined gravity lows defined by the 2022 ground survey. On the western
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Figure2. Map of the western
Table1.
DDH | Easting | Northing | Elevation (m.a.s.l.) | Azimuth (°) | Dip (°) | EOH (m) |
ATL-24-001 | 519790 | 6498261 | 412 | 344.80 | -69 | 599 |
ATL-24-002 | 519828 | 6498570 | 394 | 336.90 | -67 | 641 |
ATL-24-003 | 520190 | 6498305 | 396 | 338.20 | -74 | 588 |
ATL-24-004* | 519851 | 6498546 | 388 | 336.20 | -74 | 60 |
ATL-24-004A | 519851 | 6498546 | 388 | 336.20 | -74 | 657 |
ATL-24-005* | 519936 | 6498584 | 398 | 335.90 | -69 | 111 |
ATL-24-005A | 519936 | 6498584 | 398 | 336.40 | -69 | 660 |
* Restarted due to difficult ground conditions.
Table2.
DDH | From (m) | To (m) | Width (m) | Lithology | Uranium (partial, ppm) | U3O8(wt%) |
ATL-24-001 | 590.0 | 590.1 | 0.1 | Basement | 24.6 | - |
ATL-24-002 | 508.5 | 509.0 | 0.5 | Sandstone | 93.1 | 0.015 |
509.0 | 509.5 | 0.5 | 448 | 0.054 | ||
509.5 | 510.0 | 0.5 | 52.8 | 0.008 | ||
ATL-24-003 | 558.0 | 558.5 | 0.5 | Basement | 111 | - |
ATL-24-004A | 491.0 | 491.5 | 0.5 | Sandstone | 16.6 | - |
530.0 | 530.5 | 0.5 | Basement | 274 | 0.048 | |
544.0 | 544.5 | 0.5 | 88.2 | 0.014 | ||
544.5 | 545.0 | 0.5 | 109 | 0.015 | ||
549.0 | 549.5 | 0.5 | 128 | - | ||
549.5 | 550.0 | 0.5 | 120 | 0.018 | ||
ATL-24-005A | 492.5 | 493.0 | 0.5 | Sandstone | 41.2 | 0.008 |
493.0 | 493.5 | 0.5 | 44.7 | 0.007 | ||
494.5 | 495.0 | 0.5 | 64.2 | 0.01 | ||
495.0 | 495.5 | 0.5 | 17.4 | 0.002 | ||
495.5 | 496.0 | 0.5 | 13 | 0.002 | ||
496.0 | 496.5 | 0.5 | 44.4 | 0.006 | ||
496.5 | 496.8 | 0.3 | 82.7 | 0.012 |
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Figure3. Schematic cross-section of drill holes ATL-24-001, ATL-24-002, and ATL-24-004A, facing west. Drill hole intersections of uranium, dravite alteration, and structure are highlighted.
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Figure4. Schematic cross-section of drill holes ATL-24-003, ATL-24-005A, and historical drill hole BL-16-32 (Denison Mines), facing west. Drill hole intersections of uranium, dravite alteration, and structure are highlighted.
Table 3.
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Samples collected for analysis were sent to
Samples containing clay alteration were sent to
1The Company considers radioactivity readings greater than 300 counts per second (cps) to be “anomalous”.
2The Company considers uranium mineralization with concentrations greater than 1.0 wt% U3O8to be “high-grade”.
3Natural gamma radiation in diamond drill core reported in this news release was measured in counts per second (cps) using a handheld RS-125 super-spectrometer and verified using a down-hole
The scientific and technical information contained in this news release, including the sampling, analytical and test data underlying the technical information contained in this news release, has been reviewed, verified and approved by Mr.
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