Canary Project

The Canary project comprises 2 mineral dispositions totalling 7,303 hectares, located along the Waterfound River in the Athabasca Basin. The project was acquired via staking in July 2020, and Standard Uranium holds a 100%-interest in the property. 

Historical airborne electromagnetic work between 1993 and 2006 identified 3 main conductive systems that represent trends of graphitic metasedimentary rocks - prospective host rocks for uranium mineralization. Furthermore, ground EM and IP surveys have confirmed two prospective target areas on the property related to structural disruptions of the conductive corridors. In addition, depth to the Athabasca-basement nonconformity is known to be between 84 and 230 metres from the surface on the project, resulting in shallow drill target depths. 

Historical drill-hole CRK-137 identified highly anomalous uranium enrichment near the unconformity with 10 ppm uranium over 7.4 metres in systematic composite sampling of the sandstone, and strong hydrothermal alteration observed throughout the interval. Within this zone, a discrete 0.5 m sub-interval returned 103.1 ppm uranium; and a 1.0 m interval in the graphitic metasediments immediately below the unconformity returned 200 ppm uranium. 

Only one of the three conductive targets on the property has been tested by drilling, and results are considered highly anomalous. Exploration at the Canary project is early stage, and it remains highly prospective for unconformity-related and basement hosted uranium mineralization. The ground-based DCIP resistivity survey completed by the Company in 2022 has defined high-priority drill targets for an inaugural drill program on the project.