VANCOUVER, British Columbia, July 11, 2024 (GLOBE NEWSWIRE) -- Stallion Uranium Corp. (the "Company" or "Stallion") (TSX-V: STUD; OTCQB: STLNF; FSE: FE0) announces that they have released the Richmond Mountain gold project (the “Project”) back to Bronco Creek Exploration Inc., a wholly-owned subsidiary of EMX Royalty Corporation (TSX-V: EMX).
The Richmond Mountain project consists of 117 mining claims that cover over 950 hectares at the southern end of the Battle Mountain-Eureka Trend, located roughly 1km east of Eureka, NV. The target of the Project was the Paleozoic sedimentary formations or the Graveyard Flats intrusive, first identified from a Controlled Source Audio-frequency Magneto-Tellurics (CSAMT) geophysical survey, which indicated the presence beneath the volcanic cover. A previous company completed a historical 2010 drill hole that reached 1,500 feet and bottomed within the post-mineralized volcanic cover. Stallion conducted a deep penetrating TITAN MT survey in 2023 that outlined the potential for the graveyard flats to begin just past the 1,500-foot depth. Stallion completed a drill hole, RM-24-001 to a depth of 2,282.8 feet, to test the new geophysical results. The upper 673.8 feet comprised colluvium and overburden, followed by a sequence of volcanic rocks including tuff, rhyolitic tuff, andesite, and basalt interspersed throughout the remaining depth. Despite extending to 2,282.8-foot depth, the anticipated Paleozoic sedimentary formations or the Graveyard Flats intrusive were not intercepted and drilling was halted due to the unexpectedly deep volcanic cover. These results led to the decision to release the project.
Qualifying Statement William Breen, (Registered Member 04203997 of SME), is the Qualified Person as defined by NI 43-101, Standards of Disclosure for Mineral Projects, who has reviewed and approved the scientific and technical content of this press release. Mr. Breen is an officer of the Company.
About Stallion Uranium
Stallion Uranium is working to Fuel the Future with Uranium through the exploration of over 3,000 sq/km in the Athabasca Basin, home to the largest high-grade uranium deposits in the world. The company, with JV partner ATHA Energy, holds the largest contiguous project in the Western Athabasca Basin adjacent to multiple high-grade discovery zones.
Our leadership and advisory teams are comprised of uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties.
Stallion offers optionality with a gold project in Idaho that neighbours a world class gold deposit offering exposure to upside potential from district advancement with limited capital expenditures.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”) that relate to the Company’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this material change report should not be unduly relied upon. These statements speak only as of the date they are made.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement.
