Corvo is prime real estate for a basement-hosted uranium discovery
Vancouver, British Columbia--(Newsfile Corp. - May 20, 2025) - Standard Uranium Ltd. (TSXV: STND) (OTCQB: STTDF) (FSE: 9SU0) ("Standard Uranium" or the "Company") is pleased to provide a comprehensive summary of exploration insights and historical data gathered at its Corvo Uranium Project ("Corvo", or the "Project"), currently under a three-year earn-in option agreement with Aventis Energy Inc. (CSE: AVE) ("Aventis"), formerly Vital Battery Metals Inc1.
Highlights:
Basement-hosted Uranium Prospect: Historical drill holes intersected multiple intervals of uranium mineralization, notably along a strike length of 800 metres between historical drill holes TL-79-3 (0.116% U3O8 over 1.05 m) and TL-79-5 (0.065% U3O8 over 0.15 m)2.
High-grade* Uranium at Surface: Prospecting, mapping, geochemical surveying, and drilling completed in the late 1970s and 80s identified graphitic metasedimentary rocks in outcrop along the conductive corridor and led to the discovery of multiple uraniferous outcrops including the Manhattan showing (1.19 to 5.98% U3O8) and SMDI showing 2052 (0.137% U3O8 and 2,300 ppm Th)3.
Favorable Host Rocks: An airborne Time-Domain Electromagnetic ("TDEM") survey was recently completed to pinpoint graphitic rocks (conductors) favourable for hosting significant concentrations of uranium4. This modern electromagnetic survey will infill and improve upon historical surveys which have identified at least 25 km of combined conductor strike length.
Target Development & Drilling: The results of the recent airborne TDEM survey will be subject to geophysical interpretation and modelling, and integrated with the Project's existing datasets, to prioritize target areas for additional geophysics and inaugural drilling.
Sean Hillacre, President & VP Exploration of Standard Uranium, commented: "The Corvo Project is highly prospective for shallow basement-hosted uranium mineralization and is largely underexplored. Modeling of the new TDEM survey data covering the entire project will be underway imminently, and we expect the results to identify a significant number of high-priority drill targets for follow-up in 2025. We look forward to developing our target areas with additional work programs throughout the year as we advance towards our maiden drilling program."
Figure 1. Regional map of the Corvo Project. The Project is located 45 km northeast of Atha Energy's Gemini Mineralized Zone ("GMZ") and 60 km due east of Cameco's McArthur River mine.
Corvo Project Overview and Historical Exploration:
The Project is located along the eastern edge of the Athabasca Basin and is currently under option (the "Option") to Aventis Energy Inc. (the "Optionee") an arms-length company (TSXV: AVE). Pursuant to the Option Agreement, the Optionee can acquire 75% of the Project by funding C$4.5 million in exploration expenditures (which is subject to an operator's fee to the Company), making cash payments totalling C$225,000, and issuing C$725,000 in common shares, over a 3-year period. Following the 3-year Option period, Standard will retain a 25% stake in the Project and form a Joint Venture with Aventis to advance exploration.
Standard Uranium strategically acquired 12,265 hectares in the eastern Athabasca Basin region, targeting high-grade basement-hosted uranium on the 100%-owned Corvo project. The Corvo Project is situated 1.5 km outside the current margin of the Athabasca Basin, approximately 45 kilometres northeast of the Gemini Mineralized Zone ("GMZ") (Figure 1).
The Company believes the Project is highly prospective for the discovery of high-grade basement-hosted uranium mineralization akin to the Rabbit Lake deposit and the recently discovered Gemini Mineralized Zone. Several outcrop showings of mineralized veins and fractures are present on the Project, notably the Manhattan Showing that returned historical sample results up to 59,800 ppm U at surface3 and has never been drill tested. The Project is also prospective for rare earth element ("REE") mineralization, potentially providing additional value upside.
Basement-hosted uranium deposits in the Athabasca Basin region are typically associated with graphite-rich rocks, evident as electromagnetic ("EM") conductors in geophysical surveys. These graphite-rich rocks, softer than surrounding quartzite and granitoid lithologies, are not frequently exposed at the surface due to glacial cover. However, prospecting, mapping, and geochemical surveying completed in the late 1970s and 80s on the Project identified graphitic metasedimentary rocks in outcrop along conductive corridors and led to the discovery of multiple uriniferous outcrops including the Manhattan Showing (up to 59,800 ppm U) and SMDI showing 2052 (0.137% U3O8 & 2,300 ppm Th)3.
Historical airborne and ground electromagnetic work between 1979 and 2017 identified a broad, northeast-southwest trending, conductive system that is approximately 2.5-km wide with prospective targets associated with magnetic-low corridors and cross-cutting faults.
Historical drilling on the Project by Norbaska Mines Ltd. in 1979 and 1980 has outlined multiple intercepts of basement-hosted uranium mineralization (Figure 2). Historical drill hole TL-79-3 intersected 4.63 metres of composite mineralization >0.05% U3O8across multiple mineralized zones, including 0.116% U3O8 over 1.05 metres2. Drill hole TL-79-5 intersected 0.065% U3O8 over 0.15 metres, approximately 800 metres along strike from TL-79-32.
Figure 2. Summary map showing low/EM conductor trends on the Corvo project and highlighting historical samples and drill holes with anomalous uranium and/or radioactivity, with first vertical derivative magnetics in the background.
Earlier this year, the Company contracted Axiom Exploration Group Ltd. in partnership with New Resolution Geophysics to carry out a helicopter-borne Xcite time domain electromagnetic and total field magnetic survey over the Corvo project. The survey totalled approximately 1,380 line-kms with a traverse line spacing of 100 m and tie-line spacing of 1,000 m. The airborne TDEM survey outlines several kilometers of conductive anomalies and magnetic features in bedrock, effectively enhancing the resolution of the conductive trends on the project. The magnetic survey contributes to definition of potential fault systems and structural trends not previously identified across the project related to historical uranium showings at surface and in historical drill holes.
The Company is planning supplementary geophysical surveys across the Project in 2025 to further refine drill targets for an inaugural drill program, in addition to a mapping, prospecting, and sampling program to ground-truth historical uranium showings at surface.
Ongoing geophysical interpretation and modeling is planned to integrate historical surveys with newly collected datasets, which will provide high-priority drill targets and significantly derisk the Project prior to modern drilling.
*The Company considers uranium mineralization with concentrations greater than 1.0 wt% U3O8 to be "high-grade".
**The Company considers radioactivity readings greater than 300 counts per second (cps) to be "anomalous".
Qualified Person Statement
The scientific and technical information contained in this news release has been reviewed, verified, and approved by Sean Hillacre, P.Geo., President and VP Exploration of the Company and a "qualified person" as defined in NI 43-101.
Historical data disclosed in this news release relating to sampling results from previous operators are historical in nature. Neither the Company nor a qualified person has yet verified this data and therefore investors should not place undue reliance on such data. The Company's future exploration work may include verification of the data. The Company considers historical results to be relevant as an exploration guide and to assess the mineralization as well as economic potential of exploration projects. Any historical grab samples disclosed are selected samples and may not represent true underlying mineralization.
Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in the world's richest uranium district. The Company holds interest in over 233,455 acres (94,476 hectares) in the world-class Athabasca Basin in Saskatchewan, Canada. Since its establishment, Standard Uranium has focused on the identification, acquisition, and exploration of Athabasca-style uranium targets with a view to discovery and future development.
Standard Uranium's Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, comprises ten mineral claims over 30,737 hectares. Davidson River is highly prospective for basement-hosted uranium deposits due to its location along trend from recent high-grade uranium discoveries. However, owing to the large project size with multiple targets, it remains broadly under-tested by drilling. Recent intersections of wide, structurally deformed and strongly altered shear zones provide significant confidence in the exploration model and future success is expected.
Standard Uranium's eastern Athabasca projects comprise over 42,384 hectares of prospective land holdings. The eastern basin projects are highly prospective for unconformity related and/or basement hosted uranium deposits based on historical uranium occurrences, recently identified geophysical anomalies, and location along trend from several high-grade uranium discoveries.
Standard Uranium's Sun Dog project, in the northwest part of the Athabasca Basin, Saskatchewan, is comprised of nine mineral claims over 19,603 hectares. The Sun Dog project is highly prospective for basement and unconformity hosted uranium deposits yet remains largely untested by sufficient drilling despite its location proximal to uranium discoveries in the area.
For further information contact:
Jon Bey, Chief Executive Officer, and Chairman Suite 3123, 595 Burrard Street Vancouver, British Columbia, V7X 1J1
This news release contains "forward-looking statements" or "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements include, but are not limited to, statements regarding: the timing and content of upcoming work programs; geological interpretations; timing of the Company's exploration programs; and estimates of market conditions.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements are highlighted in the "Risks and Uncertainties" in the Company's management discussion and analysis for the fiscal year ended April 30, 2024.
Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company's actual financial results, performance, or achievements to be materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop forward-looking statements include, without limitation: that the transaction with the Optionee will proceed as planned; the future price of uranium; anticipated costs and the Company's ability to raise additional capital if and when necessary; volatility in the market price of the Company's securities; future sales of the Company's securities; the Company's ability to carry on exploration and development activities; the success of exploration, development and operations activities; the timing and results of drilling programs; the discovery of mineral resources on the Company's mineral properties; the costs of operating and exploration expenditures; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); uncertainties related to title to mineral properties; assessments by taxation authorities; fluctuations in general macroeconomic conditions.
The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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