Considering the news of the major breakthrough announced by Stallion Uranium Corp. (OTC:STLNF) on Wednesday, it could be a good move for investors to keep track of the company’s stock today.
The company announced yesterday that it had been awarded the requisite permits to conduct diamond drilling exploration work and geophysical surveys at the Coffer Uranium Project, situated in the Athabasca Basin in Saskatchewan. The Saskatchewan Government awarded the permits pertaining to the company’s 100% owned project. In its news release yesterday, the company provided some of the key details about its plans for the project.
“We are thrilled to share the news that Stallion has secured an exploration permit for our Coffer project in the Athabasca Basin,” stated Drew Zimmerman, CEO of Stallion Uranium. “This permit represents a key step in our ability to continue to advance our high-potential uranium targets. The Southwestern Athabasca Basin is an underexplored corner of the globally recognized Athabasca Basin and we are eager to advance our exploration activities in this burgeoning region that holds the potential to host the next significant uranium discovery.”
Stallion Uranium Corp. revealed that it had made plans for the commencement of targeted ground geophysics surveys in the coming weeks. The permitted activities following the award of the permit include the temporary establishment of a camp, access trail construction, diamond drilling, and geophysical surveying work.
The permits would be valid up until November 1, 2026, and would allow Stallion Uranium Corp. to conduct multiple seasons of drill testing as well as geophysical surveying. Drew Zimmermann, the Chief Executive Officer of the company, noted that the award of the permits was a major step for the company in its pursuit of advancing its high-potential uranium targets. Zimmermann also stated that the Southwestern Athabasca Basin remained an unexplored portion of the larger Athabasca Basin, which commanded global recognition.
The Coffer Project consists of eight mineral claims and encompasses an expanse of 35875 hectares of prospective ground. It is interesting to note that the project has never been drill tested and comprises a number of prospective zones on a kilometer scale inside the key target areas. Stallion Uranium Corp. announced yesterday in its news release that the geophysical survey would commence on the Appaloosa Target at the Coffer Project at some point in the upcoming weeks. The company will reveal more information in due course.