Stallion Uranium (TSXV: STUD) has begun mobilization for a deep drill program that will be conducted at its Coffer project in the Athabasca Basin of Saskatchewan.
The drill program is set to see a total of three holes drilled, targeting the Appaloosa Target Zone, with total drilling to amount to 3,300 metres in aggregate. The program, which is the first drill program to be conducted at Coffer, is targeting multiple stacked geophysical anomalies.
The target itself contains an electromagnetic conductor that is roughly six kilometres in length, which is found between the Beaverlodge and Taltson domains. Specifically, a coincident gravity and magnetic low associated with alteration is being targeted.
“The Appaloosa target is incredibly compelling and is born from our efforts over the past year. Our strategy is to find multiple high potential tier one targets by completing effective regional surveys that map key conductive corridors allowing our team to prioritize follow up surveys in preparation for drill testing. This pragmatic approach gives our team high confidence in the Appaloosa target, while our strategy will continue to develop additional tier one targets for drill testing,” commented Drew Zimmerman, CEO of Stallion.
The company expects to release any anomalous scintillometer results from the program in advance of full assay results.
The mobilization follows the news yesterday that Stallion has entered into a definitive agreement to sell seven mineral claims, referred to as the Eastern Basin Projects, to Glorious Creation Ltd. The assets were sold for $400,000 in cash and 2.5 million shares of Glorious. Stallion will retain a 3.0% NSR royalty on the assets.
Stallion Uranium last traded at $0.17 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
