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Standard Uranium has initiated its inaugural drill program at the Canary Project in the Eastern Athabasca Basin. The project is under a three-year earn-in agreement with Mamba Exploration , who will fund CAD$6M in exploration expenditures to earn a 75% interest. Drilling has begun ahead of schedule to target high-grade uranium mineralization at shallow depths. The project shows significant untapped uranium potential, with Mamba Exploration fully funding the program.
Standard Uranium confirms the effective date for a share consolidation, where every five pre-consolidation common shares will be exchanged for one post-consolidation common share. The goal is to enhance market flexibility and appeal to a wider investor base. The consolidation will reduce the outstanding common shares from 230,649,292 to approximately 46,129,859 common shares.
Standard Uranium announced a private placement to raise up to C$3.0 million for its Davidson River project in the global uranium sector. The Company plans to consolidate its shares on a one-for-five basis to increase market appeal. The net proceeds will be used for exploration and working capital. The Offering is conditional upon TSX Venture Exchange approval. The Company will continue its corporate existence from Canada to British Columbia. The Share Consolidation aims to reduce outstanding common shares to approximately 46 million common shares.
Standard Uranium announces the finalization of drilling and mobilization plans for the inaugural drill program at the 7,302-hectare Canary Project in the eastern Athabasca Basin. The Project is under a three-year earn-in option agreement with Mamba Exploration , with Mamba funding CAD$6M in exploration expenses to earn a 75% interest. The drill program, scheduled for spring 2024, will target high-grade unconformity-related uranium mineralization. Exploration teams will mobilize to the field in early May.
Drill plans comprise approximately 1,000-1,500 meters across 3-4 holes, focusing on shallow high-grade uranium targets refined by geophysical work. The program is fully funded by Mamba Exploration, with crews mobilizing to the Project on May 3rd. The Company is excited to begin exploring the high-priority targets identified in the northeastern Athabasca Basin region.