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Standard Uranium Completes Spring/Summer Drill Program at Flagship Davidson River Project, Announces Engagement of GoldSpot Discoveries
VANCOUVER, British Columbia, July 21, 2022 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB: STTDF) (Frankfu
About this update from Standard Uranium Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, July 21, 2022 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to announce that the spring/summer drill program on the Company’s flagship Davidson River Project (“Davidson River” or the “Project”) has been successfully completed ahead of schedule, under budget, and with intersections of elevated radioactivity. The 25,886-hectare Project is situated within the Southwest Athabasca Uranium District of Saskatchewan. The focused drill program followed up on prospective structures and alteration intersected during previous programs and tested brand new target areas. The Company is also pleased to announce the engagement of GoldSpot Discoveries Corp. (“GoldSpot”) (TSX-V: SPOT) (OTCQX: SPOFF) in a partnership to develop new and advanced drill targets on all five of the Company’s projects. Standard Uranium is pleased to be the first uranium company to collaborate with GoldSpot’s expert team of geoscientists and data scientists and utilize cutting-edge exploration techniques through a variety of traditional and machine learning applications. Key Focus Points: Davidson River diamond drill program successfully executed, totalling 4,107.7 metres in 10 drill holes. Elevated radioactivity and significant structural and lithological signatures of a basement-hosted uranium-bearing system were intersected. Highly deformed and graphitic structural zones identified several new priority follow-up targets along the Thunderbird and Bronco trends. Multi-kilometre portions of the conductive corridors on the property remain to be tested. Through engagement of GoldSpot Discoveries, the Company will extract further value from existing data sets in addition to new prospective intersections from the 2022 program. The fourth drill program at Davidson River focused on testing the Thunderbird conductor for the first time as well as following up on prospective graphitic structural zones intersected along the Bronco conductor in 2021 (Figure 1). Summer 2022 drilling on the Project has confirmed the presence of broad, graphitic shear zones overprinted by zones of strong brittle faulting and intense alteration, normally associated with basement-hosted uranium mineralization, along the Bronco and Thunderbird conductors (Figures 2 through 6). Jon ...