September 4, 2024
Atha Energy Corp. (TSXV:SASK, Not Rated, David A. Talbot) announced the completion of the 25-hole (10,051m) drill program at its Angilak uranium project in Nunavut. Drilling has successfully expanded mineralization at the Lac 50 trend, which hosts the entire 43M lb resource at the project. The main zone at the project now extends to over a 3.9-km strike length, and the Jay 4/Ray zone in the eastern part of the Lac 50 trend has been extended over a 1.8km strike length. Additionally, 13 holes tested regional targets outside the Lac 50 trend and all holes discovered new lenses of mineralization. Key targets include the Lac 48, Lac 50, and Lac 54 trends. The 500-1,000m long Lac 48 trend is located ~1km SW of Lac 50 and drilling here returned radioactivity of up to 10,642 cps. The 5.2km long Lac 52 trend is located ~750m north of the Main zone at Lac 50, and drilling between the Pulse and Mushroom targets intersected radioactivity of up to 30,273 cps. The Lac 54 trend is located ~1.5km north of the J4/Ray zones and four holes completed here extended the mineralized strike length to ~1.1km. While assays are pending, we note that Atha is approaching drilling somewhat differently than previous owners of this property. New interpretation by Atha suggests that this system is part of series of stacked lenses associated with brittle faulting within Tuff horizons. Atha is now comparing Lac 50 to Athabasca-style basement-hosted uranium deposits, where stratigraphy plays an important role in relation to mineralization. Read more
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Atha Energy Corp. – TSXV:SASK – 1,2,3
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