May 1, 2024
ATHA Energy Corp. (TSXV:SASK, Not Rated, David A. Talbot) has mobilized equipment and supplies in support of the 2024 exploration program at its 100%-owned Angilak project in Nunavut. The 10,000m Phase I drill program is set to begin in June and is designed to expand the 43M lb U3O8 Lac 50 deposit and test high-priority targets on parallel structures (read notable). The mobilization included the delivery of two X10 diamond drills, which are anticipated to nearly double daily meterage compared to previous Angilak drill campaigns. Management estimates direct drill costs of ~C$550/m and all in costs only slightly higher than in the Athabasca Basin. A Phase II airborne geophysics program comprising EM, magnetic and VLF surveys and ground geochemistry to develop targets for future drill programs is also planned in concert with the Phase I drill program. Given that a new MRE will be required to make the historical resource current, we look forward to seeing this program potentially add uranium pounds to the Lac 50 deposit, where mineralization remains open in all directions. Read more
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ATHA Energy Corp. – TSXV:SASK – 1,2,3
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