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Standard Uranium Stakes Gunnar Project, Focuses on Unconformity-Style Mineralization South of the Beaverlodge District
VANCOUVER, British Columbia, July 15, 2020 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) is pleased to announce
About this update from Standard Uranium Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, July 15, 2020 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) is pleased to announce that it has acquired, through staking, three new claims adjacent to the Company’s existing claim package in the Northern Athabasca Basin (the “Gunnar Project”), and the Gunnar Project now totals 15,770 Hectares. The new claims contain unconformity-and basement-hosted (“unconformity-style”) uranium targets in three areas that were historically explored by the predecessors of Cameco (Eldorado Nuclear and SMDC) between 1976 and 1981 and more recently by Canalaska between 2005 and 2010. The Gunnar Project is located at the south end of the prolific Beaverlodge Uranium District, where uranium was mined between 1953 and 1982. In addition to the uranium potential of the Gunnar Project, the Company believes that there is significant gold and PGE potential. The Goldfields District is currently being advanced by Fortune Bay Corp., with the Box and Athona deposits, that have a historical resource of 22,333,045 tonnes at an average grade of 1.42 g/t Au (1,020,000 ounces of gold) (*). The Goldfields District was Saskatchewan’s first gold mining camp and operated starting in 1934 until the Box Mine closed in 1942 due to a work force shortage with the onset of World War II. Additionally, several gold and PGE occurrences were discovered in the Goldfields District (Figure 1). Many parts of the Beaverlodge Uranium District, including the Company’s Gunnar Project, share the same Murmac Bay Group basement geology as the Goldfields District, but little-to-no gold exploration has occurred. The new claims of the Gunnar Project have many attributes that are favourable for high-grade unconformity-style uranium mineralization. The key geological factors include: 1. Uranium enriched bedrock (source of uranium)The Beaverlodge District is host to numerous zones of uranium mineralization that pre-date the formation of the Athabasca Basin. Additionally, the granitic basement rocks in the Beaverlodge District have an elevated background content of uranium. 2. Re-activated structures in the basement (plumbing system for fluids)The Beaverlodge area is host to several northeast-trending structures including the Black Bay and St Louis Faults. Uranium deposits in the Beaverlodge District are rel...