There’s still plenty of support for uranium, especially with utilities looking to diversify the origin of their uranium supply amid geopolitical developments, as noted by Proactive Investors. We also have to consider that spot prices have been on the run over the last few years, especially with a supply-demand imbalance, and changing sentiment on nuclear energy. All of which is a key catalyst for uranium companies, such as Stallion Discoveries Corp. (TSXV: STUD) (OTCQB: STLNF), Skyharbour Resources (TSXV: SYH) (OTCQX: SYHBF), F3 Uranium (TSXV: FUU) (OTCQB: FUUFF), NexGen Energy (TSX: NXE) (NYSE: NXE), and IsoEnergy Ltd. (TSXV: ISO) (OTCQX: ISENF). In addition, according to News Direct, “A secure supply of energy is essential and so uranium will remain a hot topic in 2023 due to its role in the world’s power supply.”
“While renewable energy remains the end goal for most countries, uranium’s place in the clean energy revolution can no longer be ignored. Nuclear restarts are already in the works, meaning more uranium will be needed soon. Right now, 437 nuclear reactors provide 10% of the world’s electrical needs. Over the next decade, this figure is projected to increase dramatically when around 60 more reactors enter service,” they added.
Look at Stallion Discoveries Corp. (TSXV: STUD) (OTCQB: STLNF), For Example
Stallion Discoveries Corp. just announced that the Company has entered into a binding letter of intent with Atha Energy Corp. (CSE: SASK) pursuant to which the Company and Atha shall seek to enter into definitive agreements which shall give the Company an option to acquire a 70% interest in 47 mineral claims covering 547,524 acres in Saskatchewan’s prolific Western Athabasca Basin by acquiring the requisite interest from Atha, which currently holds a 90% interest in the Project.
The addition of the Project to Stallion’s existing holdings is expected to significantly expand the Company’s land package in the Western Athabasca Basin to total 715,450 acres. Should the Option be exercised, the Company may hold an aggregate 692,647 acres that could form the largest contiguous project in the Western Athabasca basin. This Project’s lands, together with the Company’s current holdings, share significant borders with projects held by Cameco Corporation, Orano Canada Inc., NexGen Energy Ltd., Denison Mines Corp. and F3 Uranium Corp. The scale and strategic location of the asset base is expected to provide numerous high-potential target zones along several major trends as Stallion continues its exploration efforts.
“We are thrilled to announce this transformational option to expand our position in the Western Athabasca basin. There is significant strategic value in gaining access to this land package that is directly adjacent to our current projects. We and other key stakeholders in the district believe that the Western Basin is underexplored and provides tremendous opportunity for exploration success. Stallion now has the potential to hold the largest continuous land package in the Western Athabasca basin, offering exploration synergies and significant upside potential as we execute on our exploration plan,” stated Stallion CEO, Mr. Drew Zimmerman.
As previously announced on March 1, 2023, the Company has commenced the first phase of its exploration program in the Athabasca Basin, completing the data acquisition phase announced on April 27, 2023, and will provide further updates to the program in the coming weeks.
Other related developments from around the markets include:
Skyharbour Resources announced that it has acquired 100% of the South Dufferin Uranium Project from Denison Mines Corp. The South Dufferin Project comprises 12,282 hectares (30,349 acres) over nine claims in the Athabasca Basin, which is host to the highest-grade uranium deposits in the world and is consistently ranked as a top mining jurisdiction by the Fraser Institute. The new properties recently staked along with South Dufferin bring Skyharbour’s total land package that it has ownership interest in to 504,356 hectares (1,246,290 acres), across twenty-four properties, representing one of the largest project portfolios in the region. As the Company remains focused at its ongoing 10,000m drill program at the Russell Lake project, South Dufferin will become a part of Skyharbour’s prospect generator business as the Company will seek strategic partners to advance this asset.
F3 Uranium announced final results from the 9 remaining drill holes of the 21 hole Winter 2023 program, including drill hole PLN23-061, drilled at the JR Zone on the Patterson Lake North (PLN) property. The analysis for PLN23-061, cored 75m grid south from the discovery hole, returned one continuous 12.5m interval averaging 4.6% U3O8, including a high-grade 5.0m interval averaging 10.9% U3O8, which further includes a 3.0m interval which assayed 16.1% U3O8. Planning is in progress for a $12M summer exploration program, scheduled to commence early June, to continue JR Zone expansion, in addition to exploration along the A1 Main Shear Zone where previous drilling in 2014 and 2019 intersected the same structure as what is interpreted to be hosting the JR Zone. The work permits for the program have been received from the Saskatchewan Ministry of Environment.
NexGen Energy announced that it has received significant initial interest from prospective financial institutions, including commercial lenders and export credit agencies, for providing project financing for the Rook I Project. To date, NexGen has received non-binding expressions of interest totalling over US$1 Billion in available debt for the Project, subject to acceptable financing terms and conditions as well as satisfactory due diligence (including environmental and social reviews) and the entering into of definitive documentation. The progress of project financing discussions with external parties further validates the high-quality nature of Rook I – a low-cost operation in the tier-one jurisdiction of Saskatchewan that continues to demonstrate elite technical, environmental, and social standards with strong support from local communities. NexGen will continue to progress discussions with the groups and provide updates on this matter as appropriate. Finalization of the agreements is scheduled for Q4 2023 in line with the Project development schedule.
IsoEnergy Ltd. provided an update on winter 2023 exploration activities on its 100% owned Larocque East, Hawk and Geiger projects, all located in the northeastern region of the Athabasca Basin of Saskatchewan. Larocque East hosts the Company’s high-grade Hurricane Deposit. Tim Gabruch, President and Chief Executive Officer commented: “IsoEnergy has completed a safe and successful winter program of drilling and geophysics at our Larocque East, Hawk and Geiger projects. This valuable work has further advanced our understanding of these projects and the information will be analyzed to help develop our pipeline of drill-ready targets, starting with plans for the upcoming summer exploration program. As with all drill programs IsoEnergy undertakes, we employ a systematic methodology to optimize the value of each metre drilled and determine what prospectivity exists to make future discoveries.”
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