Categories: Mining Stocks
Topics: Uranium Stocks

Ultra low-priced uranium stock expands partner-funded exploration in Canadian epicenter

Prospect generator Standard Uranium Ltd. (TSX-V: STND)(OTC: STTDF) — currently trading undiscovered around C$0.07 per share in the 2024 uranium bull market — is off to a very busy start in 2024 marked by a number of significant milestones and accomplishments in Canada’s Athabasca Basin region, including:

• Optioned the Ascent Uranium Project to Summitt Fusion Ltd. 
• Expanded the Ascent property by 3,728 hectares, effectively doubling the project size 
• Acquired the Cable Bay Southwest, Ox Lake, Brown Lake, and Harrison uranium projects through staking
• Optioned the Atlantic Uranium Project to Atco Mining Inc.  

Standard Uranium CEO Jon Bey — whom you’re about to hear from momentarily in our exclusive interview — commented on the upward momentum via press release:

“We are pleased to announce our fourth option agreement since transitioning to a project generator in July 2023. The Company now has over thirty million dollars committed to our exploration programs over the next three years and nine million dollars committed to exploration in 2024.  Heading into the 2024 exploration season, we now have 11 projects across the prolific Athabasca Basin, with a minimum of seven exploration programs planned with five of those being drill programs at the Atlantic, Sun Dog, Canary, Ascent, and Davidson River projects.”

The five properties mentioned in the press release quote above — Atlantic, Sun Dog, Canary, Ascent, and Davidson River — are the current flagships; more on those in a moment.

First, a key component of the project generator model Standard Uranium is systematically deploying in Saskatchewan’s Athabasca Basin region is that all current and future option/JV agreements on the company’s properties will have Standard as operator with the option or JV partner paying the company cash and/or shares to secure an interest in the property and, as well, to fund exploration. 

In essence, exploration and drilling expenditures are mostly, if not entirely, paid for by the option/JV partner with Standard Uranium running the projects from top to bottom as operator while maintaining a partial ownership stake in each optioned property. 

The brilliant execution of that proven model has Standard Uranium (click link for brief video presentation) set for partner-funded exploration across seven Athabasca-based projects with four projects being fully-funded by partners. 

Of course, that level of participation and funding would have been near impossible to amass at ~US$30 uranium — which is what the market had grown boringly accustomed to the last several years. 

Yet today, with uranium surging to 15-year highs above US$100 per pound, there’s simply no shortage of highly experienced, well-funded exploration firms looking to participate in the potential upside of an exploration/drilling project in key areas of the Athabasca Basin region — the undisputed epicenter of North American uranium production. 

Standard Uranium is systematically proving that it has not only the properties but also the team and the uranium exploration acumen to make things happen in the basin. And that points to even more potential option/JV agreements to come over the next few quarters and, hence, more exploration and more drill holes going into the ground in search of the next Athabasca-based uranium discovery of significance. 

To use a hockey analogy, it’s like having multiple, multiple shots-on-goal — mostly on other companies’ dimes. With all that being said, let’s take a quick look at Standard Uranium’s primary flagships. And then, we’ll get you right over to Gerardo’s exclusive interview with CEO Jon Bey.  

Davidson River Uranium Project: Recently expanded property size to 37,700 hectares; planned drilling in H2 2024 to follow up on prospective drilling results from 2022 and to test new high-priority targets akin to F3 Uranium’s neighboring JR Zone discovery within the newly added southeast claim blocks.

Source:

Atlantic Uranium Project: ~C$1M inaugural drill program planned for H2 2024 to be fully funded by option partner Atco Mining; project covers 6.5 km of an 18-km-long east-west trending conductive exploration trend hosting numerous uranium occurrences; high-res ground gravity survey completed on western claim block identified multiple subsurface density anomalies for follow up. 

Sun Dog Uranium Project: Optioned to Angold Resources Ltd.; ~C$1.5M exploration/drill program planned for H1 2024 to be fully funded by Angold; high-grade uranium mineralization present at surface to be tested at depth. 

Canary Uranium Project: Optioned to Mamba Exploration Ltd.; located 11 km north of IsoEnergy’s high-grade Hurricane uranium deposit; Mamba will fund inaugural ~C$1M drill program planned for H1 2024 to ground-truth historic uranium intersections and test new resistivity targets along strike. 

Ascent Uranium Project: Option term sheet signed with Summit Fusion whereby Summit will fund ~C$6M in exploration expenditures during the full earn-in period; inaugural ~C$1M drill program planned for spring 2024; prime targets for uranium mineralization have been delineated through airborne magnetics. 

A couple of honorable mentions are the Corvo and Rocas uranium projects, which Standard Uranium staked in August 2023 and May 2023, respectively. 

The Corvo project covers approximately 12 km of two northeast trending magnetic low/electromagnetic (EM) conductor corridors with previous showings of anomalous uranium and/or radioactivity. The Rocas project covers 5.5 km of a northeast trending EM corridor hosting several uranium anomalies. Standard Uranium is planning geophysics for both properties with plans to get both projects drill-ready by 2025. 

What it all adds up to is the potential to drive over C$9.5 million in exploration/drilling across multiple Athabasca-based projects this year alone (see below) — all at a current market cap well below C$20 million. And that, my friends, is the prospect generator model firmly in-play at the expert direction of CEO Jon Bey and the rest of the highly-adept team at Standard Uranium.

As promised, and to get the full picture of all the activity surrounding this impressive, yet completely undiscovered junior uranium explorer, our own Gerardo Del Real of Junior Resource Monthly caught up with Standard Uranium CEO Jon Bey for a chat. 

Inside, they delve into the prospect generator model and the multi-project exploration and drilling underway and being planned for 2024-25 in Saskatchewan’s Athabasca Basin region — the highest-grade uranium depository on the planet. We hope you’ll enjoy this candid conversation.  

For more on Vancouver-based Standard Uranium Ltd., please contact the company’s IR department at 306-850-6699 or via email at info@standarduranium.ca.

Visit the Standard Uranium corporate website and sign up to receive updates directly from the company here. 

Yours in profits,

Mike Fagan
Editor, Resource Stock Digest