FULL DISCLOSURE: This is sponsored content for ATHA Energy.
Exploration plans have finally been released for ATHA Energy’s (TSXV: SASK) massive 7.1 million acre land package. The 2024 exploration program will see the company focus on exploring projects in two of the highest grade uranium districts globally.
In Nunavut at the Angilak Project, ATHA Energy intends to build upon work recently completed by Latitude Uranium. The project recently saw a 5,665 metre, 18-hole drill program completed at the Lac 50 Deposit, highlight results for which include the intersection of 7.54% U3O8 over 1.6 metres.
As part of the 2024 exploration program, a 10,000 metre diamond drill program is slated to begin in June, which will target the expansion of the Lac 50 Deposit, which is currently open in all directions. High-priority targets on parallel structures to the deposit will also be drill tested, along with regional targets.
A phase two program at Angilak meanwhile will involve target airborne surveys that include EM, Mag, and VLF surveys, along with ground geochemistry sampling and mapping. The program intends to identify a pipeline of high-priority targets for further exploration.
READ: Anfield, ATHA Energy Added To Uranium Mining Index
“The Company is excited to provide guidance on ATHA’s industry leading exploration plans. At the recently acquired Angilak Project, ATHA will be leveraging the expansion potential of one of the highest-grade uranium deposits globally outside of the Basin through a combination of diamond drilling and geophysics,” commented CEO Troy Boisjoli.
In the Athabasca Basin, once the acquisition of 92 Energy is concluded, the company intends to make 92’s Gemini project and other assets a focal point of the exploration program. Here, drilling is planned for summer 2024, with further plans to be revealed once the transaction with 92 Energy formally closes.
Exploration is also set to take place on nine of ATHA’s fully owned projects within the basin, which is to include a combination of ground and airborne geophysical surveys. These geophysical surveys are anticipated to inform future exploration programs within the basin, with the surveys to target each of the four exploration districts being developed by ATHA. The exploration program is currently underway, and expected to run through to the end of the third quarter.
“In the Athabasca Basin, home to the highest-grade uranium deposits and mines globally, our program will focus on adding to our pipeline of exceptional drill ready targets. Additionally, we look forward to providing guidance on our exploration plans – inclusive of diamond drilling – on the Gemini Project which hosts the high-grade GMZ discovery. Our objective through 2024 is to continue to advance and develop our uranium assets within the world’s most prospective, highest grade uranium jurisdictions.”
The Gemini project contains a high-grade discovery made in 2021, which has been defined over a 250 metre by 290 metre footprint. The basement hosted uranium discovery has had intercepts such as 43.0 metres at 0.62% U3O8, including 18.0 metres of 1.16% U3O8, and a subinterval of 6.0 metres at 2.17% U3O8, which was found in hole GEM22-025. Hole GEM23-061 meanwhile intercepted 5.0 metres of 1.47% U3O8, which had a subinterval of 0.5 metres at 9.66% U3O8.
ATHA Energy last traded at $0.795 on the TSX Venture.
FULL DISCLOSURE: ATHA Energy is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of ATHA Energy. The author has been compensated to cover ATHA Energy on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
