Welcome to our dedicated page for Atha Energy news (Ticker: SASKF), a resource for investors and traders seeking the latest updates and insights on Atha Energy stock.
ATHA Energy Corp (SASKF) generates frequent news flow related to its uranium exploration activities and capital markets transactions. As a Canadian mineral company focused on uranium assets, ATHA issues detailed updates on drilling, geophysical work, technical reporting, and financing that are relevant to investors following the uranium and energy sectors.
Many of the company’s recent news releases center on the Angilak Uranium Project in Nunavut. ATHA reports on drill results along the Lac 50 Trend and the RIB–Nine Iron Trend, including the Mineralized RIB Corridor, where discoveries at RIB East, RIB West, RIB North, and RIB South have been announced. These updates often include information on composite uranium mineralization, high-grade intervals, and the use of EM inversion modeling to guide targeting.
News items also cover technical and regulatory developments, such as the filing and amendment of NI 43-101 Technical Reports, clarification of historical mineral resource disclosure, and the filing of an annual information form. Financing-related releases describe bought-deal private placements of special warrants, short form prospectus filings, and a convertible debenture financing with Queen’s Road Capital Investment Ltd., outlining how proceeds are intended to support exploration at Angilak and other projects.
In addition, ATHA publishes announcements on corporate matters such as equity incentive grants, market making agreements, and investor rights arrangements connected to financings. Readers of this news page can review a continuous record of ATHA’s exploration results, technical updates, and financing activities, providing context for the company’s progress across its uranium project portfolio.
ATHA Energy (SASKF) has completed mobilization for its 2025 exploration program at the Angilak Uranium Project in Nunavut and commenced ground gravity and electromagnetic surveys. The program focuses on the highly prospective 31 km Rib-Nine Iron Trend, which extends under the Angikuni Basin.
Key targets include: the RIB Discovery with historic shallow mineralization, the KU Discovery with historical trench samples up to 30.7% U3O8, and the Nine-Iron Discovery with surface samples reaching 30.3% U3O8. Diamond drilling is anticipated to begin in early June 2025, targeting shallow, high-grade uranium deposits along the corridor.
The project, located 225 km southwest of Baker Lake, builds on ATHA's successful 2024 campaign where all 25 step-out holes at the Lac 50 Deposit were mineralized. The company aims to define discoveries that could reshape the region's significance in global uranium production.
ATHA Energy Corp (OTCQB:SASKF) has successfully completed a fully-subscribed private placement offering, raising aggregate gross proceeds of $10 million. The offering consisted of:
- 16,766,490 flow-through common shares at $0.47 per share
- 3,475,000 Charity FT Shares at $0.61 per share
The offering was conducted through an agency agreement with Stifel Nicolaus Canada Inc. and Canaccord Genuity Corp. as co-lead agents, with Red Cloud Securities Inc. participating. Agents received a 6.0% cash fee from the gross proceeds. The funds will be used for eligible Canadian exploration expenses, qualifying as flow-through critical mining expenditures for the Angilak project and other exploration-stage projects, to be completed by December 31, 2026.
ATHA Energy has announced significant findings from SRK Consulting's independent report on their Angilak Uranium Project in Nunavut, Canada. The report highlights a major uranium discovery with the Rib-Nine Iron Trend extending to 31 km, featuring surface grades up to 30.3% U3O8, and the Mushroom Lake Outcrop showing grades up to 47.8% U3O8.
Key developments include:
- Expansion of project area by 25,194 additional acres
- Completion of >10,000m drill program with 100% of holes intersecting uranium mineralization
- Discovery of multiple high-grade uranium outcrops
- Identification of Athabasca-style mineralization with grades up to 5.6% U3O8
The company plans to execute aerial and ground geophysical surveys in April 2025, preparing for diamond drilling phase. The project shows similarities to the Athabasca Basin, with the structural interpretation suggesting potential for additional high-grade uranium discoveries.
ATHA Energy Corp (SASKF) has announced significant results from its Airborne Mobile MagnetoTellurics (MMT) survey at the Angilak Uranium Project in Nunavut, Canada. The 5,946-line kilometer survey successfully identified more than 100 km of prospective conductors and achieved four primary objectives.
Key findings include: 1) Confirmation that the Lac 50 Deposit's conductive horizons extend beyond 1 km depth; 2) Discovery of a new 25 km conductive trend along the western margin of the Angikuni Basin; 3) Identification of the Western Margin Trend (WMT) showing similarities to Athabasca Basin deposits, with historic drilling revealing grades up to 5.6% U3O8.
The Lac 50 Deposit has a 2024 Exploration Target Model ranging between 60.8M and 98.2M lbs U3O8, with average grades between 0.37% and 0.48% U3O8. The MMT results significantly increase the prospectivity of the mineralized envelope by demonstrating that conductive horizons extend well beyond the current 500m depth limit used in the model.
Atha Energy announces significant findings from its 2024 surficial mapping program at the Angilak Uranium Project in Nunavut, Canada. The company identified high-grade uranium mineralization on surface beyond the Lac 50 Deposit's Exploration Target Model, which ranges between 60.8M and 98.2M lbs U3O8 with grades between 0.37% and 0.48% U3O8.
A notable discovery includes extensive bedrock outcrop with radioactivity up to >60,000 counts per second over a 3-kilometer strike length between the Mushroom Lake zone and Hot zone, which remains untested by drilling. The mapping program successfully identified numerous uranium-bearing outcrops between Lac 48, 50, 52, and 54 trends, demonstrating the area's potential for additional mineralized trends.
ATHA Energy announces results from its 2024 Angilak Exploration Program, revealing significant uranium findings at the Lac 50 Deposit. A third-party Technical Report establishes an Exploration Target ranging between 60.8M and 98.2M lbs U3O8, with grades between 0.37% and 0.48% U3O8. The 2024 drilling program, comprising 25 holes totaling 10,051m, successfully intercepted uranium mineralization in all holes, with grades up to 5.85% U3O8. The Lac 50 Deposit remains open along strike and at depth, with only 24% of the prospective trends drill-tested to date.
ATHA Energy Corp (OTCQB: SASKF) announces key leadership changes with the appointment of Erinn Broshko as Non-Executive Director and Rhéal Assié as Chief Financial Officer. Broshko brings 25 years of experience as a corporate executive and lawyer, while Assié has over 15 years in accounting and mining, including uranium sector expertise. The company also announces the departures of Jeffrey Barber from the Board and Akash Patel as CFO, both of whom will provide transition consulting services. Additionally, ATHA has engaged ICP Securities for automated market making services at C$7,500 monthly, effective October 15, 2024, for an initial three-month term.
ATHA Energy Corp. (CSE: SASK) (FRA: X5U) (OTCQB: SASKF) has announced option agreements with Terra Uranium (ASX: T92) for their respective projects. T92 can earn up to a 70% interest in ATHA's Spire and Horizon properties by incurring $4,750,000 in exploration expenditures over four years. Conversely, ATHA can acquire up to a 60% interest in T92's Pasfield Lake property through exploration expenditures or deep hole drilling over four years.
The agreements include provisions for forming joint ventures and the option for ATHA to convert its Pasfield interests into a net smelter returns royalty. Additionally, ATHA has extended or modified investor relations agreements with Hybrid Financial Inc., Gold Standard Media , and Creative Direct Marketing Group Inc., subject to TSX Venture Exchange approval where applicable.
ATHA Energy Corp (TSXV:SASK) participated in the TD Securities Annual Nuclear Fuel Cycle and Next Generation Nuclear Roundtable on October 8, 2024. CEO Troy Boisjoli discussed the company's significant growth since its listing in April 2023. ATHA now holds 8.5 million acres of exploration property across the Athabasca Basin, Thelon Basin, and Labrador. Key priorities for 2024 include maturing the Angilak project, which boasts a 43.3 million pound uranium resource at 0.69% average grade. The company has also executed a 10,000-meter drill program and identified three new prospective corridors for resource growth. Additionally, ATHA is focusing on the Gemini project and expanding its pipeline of exploration targets. Boisjoli highlighted the technical expertise of the team and their success in raising over $55 million. He also discussed the company's strategic use of data and AI in exploration and potential farm-out agreements to advance long-term projects. ATHA maintains a strong cash position with approximately $60 million on the balance sheet.
ATHA Energy Corp. (TSX.V: SASK) has expanded its Angilak Project in Nunavut by staking an additional 69,704 hectares, bringing the total project size to 158,447 hectares. The expansion includes the entire prospective Lac 50 structural corridor and a parallel corridor, both related to the Snowbird Tectonic Zone. The Angilak Project hosts the Lac 50 Uranium Deposit, with a historical resource of 43.3M lbs at 0.69% U3O8.
The company recently completed a successful 2024 exploration program, drilling 25 holes totaling ~10,051 m. The program expanded mineralization along the Lac 50 Trend and identified new parallel trends. ATHA also announced an agreement with Oak Hill Financial Inc. for investor relations services, subject to TSXV approval.