Impact: Neutral
Standard Uranium has completed its Phase 2 (~3,020m) winter diamond drilling program, at its flagship Davidson River uranium project in the southwest Athabasca Basin, SK. Based on positive indications from the program, Standard has decided to quadruple its summer 2021 drill plans to ~10,000m. With exploration work underway at both its Davidson River and Sun Dog projects, we believe investors should be looking at Standard Uranium for its high prospectivity of making a new uranium discovery. Initial drilling has identified weakly anomalous uranium and geological structures and alteration suggestive of the presence of hydrothermal fluid flow, while enhancing Standard’s geological understanding of the Warrior trend. Rocks appear similar to those found at nearby deposits along Patterson Lake corridor, including Fission Uranium’s (TSX:FCU, Not Rated) Triple R and NexGen Energy’s (TSX:NXE, Not Rated) Arrow deposits. A total of nineteen holes are drilled along the Warrior trend, with several high-priority targets remaining untested.
