ATHA Energy Joint Venture With Stallion Uranium Identifies 560 Km Of Basement Conductive Trends
FULL DISCLOSURE: This is sponsored content for ATHA Energy.
ATHA Energy (CSE: SASK) has continued to see results from its ongoing airborne geophysical survey program, which is set to cover over 2.1 million acres of prospective land claims.
The latest preliminary results from the program come from Stallion Uranium (TSXV: STUD), who operates a joint venture with ATHA in the southwestern portion of the Athabasca Basin. The survey, which was flown over 2,200 square kilometres of land claims, is said to have identified over 560 kilometres of new basement conductive trends.
The program identified and extended six different mineralized corridors on the large land package, including the Patterson Lake and Carter Corridors, among others, while large conductive trends that are kilometres in length that coincide with basement structures are interpreted to be present at multiple spots across the property.
The findings include previously unknown conductive corridors, while structural complexities were identified that suggest favourable conditions for uranium mineralization exist. The results are expected to be utilized for the next stages of exploration at the property, with the new conductive corridors to be “the cornerstone that the next phase of exploration is built on.” Advanced modeling of the data is expected to be used to generate targets to advance toward drill testing.
READ: ATHA Energy Adds Uranium Bench Strength To Exploration, Corporate Teams
“Utilizing the latest survey technology we have transformed an underexplored land package, uncovering hundreds of kilometers of conductive trends that are highly prospective target areas for uranium mineralization. Not only have we extended known prolific conductive corridors, but we have also been able to uncover completely new zones. We believe the process of identifying, prioritizing, and advancing the best targets from over 2,200sq/km gives our team the potential and probability of finding the next significant uranium discovery,” commented Drew Zimmerman, CEO of Stallion.
ATHA separately this morning indicated that it its acquisition of 92 Energy has been deemed to be fair and reasonable by BDO Corporate Finance, an independent expert on the matter. The Federal Court of Australia meanwhile has approved the meeting of 92E shareholders to vote on the proposed merger, which is set for March 25.
ATHA Energy last traded at $0.98 on the CSE.
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