FULL DISCLOSURE: This is sponsored content for ATHA Energy.
ATHA Energy (TSXV: SASK) has completed its inaugural exploration program at its Angilak project in Nunavut. The program saw the company conduct both diamond drilling as well as regional exploration at the property.
The exploration program saw a total of 25 drill holes conducted across an aggregate 10,051 metres. The program is said to have been highly successful, with the company expanding the mineralization footprint along the Lac 50 trend, while also identifying the Lac 48, Lac 52 and Lac 54 trends, which consist of parallel mineralization. All four trends are said to remain open in all directions, while area between these trends remains prospective for new discoveries.
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Highlights from the discovery of these new trends include:
- Lac 48: The trend consists of multiple parallel mineralized corridors with strike lengths between 500 to 1,100 metres. One hole was drilled at this target, with a highlight intersect of 10,642 cps at 94.9 metres depth.
- Lac 52: Eight holes were conducted at this discovery, with highlight intersects of 30,273 cps over 0.3 metres in hole PL-DD-030, and 14,870 cps at 102.7 metres in hole ML-DD-009.
- Lac 54: Four holes intersected mineralization over a strike length of 1.1 kilometres.
13 of the holes conducted at Angilak were focused on regional exploration, with all holes said to have discovered new lenses of mineralization, expanded known showings, or identified prospective structures. 12 meanwhile were focused at the Lac 50 deposit, which were geared towards expanding mineralization outside of the historic mineralized domains.
“The successful identification of uranium mineralization along strike at the deposit, combined with the confirmation of uranium mineralization across multiple proximal parallel trends, underscores the immense potential of this project. These results not only extend the footprint of known mineralization but also illuminate new opportunities for significant resource growth. We believe this progress marks a pivotal moment for ATHA as we execute an aggressive growth strategy at a time when the uranium industry is facing a potential unprecedented structural supply deficit,” commented Troy Boisjoli, CEO of ATHA Energy.
ATHA Energy last traded at $0.65 on the TSX Venture.
FULL DISCLOSURE: ATHA Energy is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of ATHA Energy. The author has been compensated to cover ATHA Energy on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
