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Standard Uranium Samples Off-Scale Uranium Mineralization at Surface, Gunnar Uranium Project
VANCOUVER, British Columbia, Sept. 24, 2020 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (Frankfurt: FWB:9SU) i
About this update from Standard Uranium Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, Sept. 24, 2020 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (Frankfurt: FWB:9SU) is pleased to announce that off-scale uranium mineralization has been sampled at surface from historical uranium prospects at its 15,770 hectare, 100% owned, Gunnar Uranium Project (the “Project”). The Project is located at the northwest edge of the Athabasca Basin, Saskatchewan, and is south of the first uranium mining camp in Canada, the Beaverlodge District, near Uranium City. Geologists have thus far visited the two main exploration targets on the project, the JSW1 prospect, herein re-named the “Java Target”, and the historical Stewart Island Deposit, herein re-named the “Skye Target”. In addition, a previously un-documented strongly radioactive occurrence has been located near two historically documented prospects, and the area has been collectively named the “Haven Target”. These three target areas will have a high priority, given the historically observed radioactivity at surface hosted in Athabasca Supergroup sandstones, and their proximity to nearby targets at the unconformity and within the basement rocks. (Figure 1). As noted in the July 15, 2020 news release, the target areas at the Gunnar Project have many attributes that are favourable for the formation of high-grade unconformity-related uranium mineralization. The key geological factors include uranium-enriched bedrock, re-activated and graphitized structures, Athabasca Supergroup sandstone cover, and favourable basement rheology contrasts. Java Target Historical Context The Java Target at the north-west end of Johnston Island encompasses the historical JNW-1 prospect and the unconformity-related uranium target to the north The JNW-1 prospect was channel sampled in 1977 by SMDC with results of 0.43% U3O8 over 4.2 m at surface. Individual grab samples were as high as 12.4% U3O8. Located approximately 350 metres to the north of the JNW-1 prospect is a 1.5 km long electromagnetic trend that was drill-tested by several drill holes which encountered strongly altered and brecciated, chlorite-, sulphide-, and graphite-bearing metasediments underlying the Athabasca sandstone. The best hole of the area, LAO-1, contains 0.10% U3O8 over 1 metre. (Figure 2) is a stylized representation of the exploration model at the J...