Standard Uranium CEO Jon Bey joined Steve Darling from Proactive to provide an update on the planned exploration activities at the Canary Project, currently under a three-year earn-in option agreement with Mamba Exploration. Under the agreement, Mamba aims to earn a 75% interest in the project by funding $6 million in exploration expenditures over three years, with the inaugural drill program scheduled for this spring.
Bey informed Proactive that the company has engaged drill and helicopter contractors for the inaugural Spring 2024 drill program, set to commence in early May. The drill program will entail helicopter-supported diamond drilling, focusing on high-priority unconformity-related uranium targets that have been refined through geophysical work conducted by the company in 2022. The ideal unconformity target zones on the project are situated approximately 200-300 meters below the surface.
Highlighting the underexplored nature of the northeast portion of the eastern Athabasca Basin in terms of drilling, Bey emphasized that the Canary project contains two main conductive corridors, yet only has three historical drill holes, representing a drilling density of 0.04 drill holes per square kilometer.
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