Impact: Very Positive
Standard Uranium has completed its winter drill program (~1,227m) at its 100%-owned Sun Dog project in the Athabasca Basin. Certain drill holes are demonstrating elevated radioactivity, dravite clay alteration associated with oxidized fault breccia and shear zones. We view this news very positively as these intersections in previously untested areas are showing characteristics typical for uranium-bearing mineralized systems. The right rocks, structure and alteration have been identified that is typical of high grade, Athabasca style, unconformity-type, uranium deposits. While pending assays will likely show relatively low grades over narrow widths, the radioactivity does suggest that these structures, as noted by the alteration, are potential conduits for hydrothermal fluids.