Exploring 3000+ Sq/Kms in Canada’s Western Athabasca Basin
Against the backdrop of the search for carbon-free energy sources, governments across the globe are developing nuclear power projects at a record pace. The International Atomic Energy Agency (IAEA) publishes yearly estimates of nuclear power growth over the next few decades. The most recent report anticipates 25% more nuclear energy capacity installed by 2050 than the one just three years prior, in 2020. The high case scenario now sees global nuclear capacity increasing 141% by 2050. The low case scenario puts the increase at 24% by 2050.
“Climate change is a big driver, but so is security of energy supply,” IAEA Director General Rafael Mariano Grossi said in describing the reasons for the improved outlook. “Many countries are extending the lifetime of their existing reactors, considering or launching construction of advanced reactor designs and looking into small modular reactors (SMRs), including for applications beyond the production of electricity.”
Canada is moving forward with an aggressive expansion plan of its own. John Wilkinson, the country’s Energy and Natural Resources Minister, recently pledged that the government would expedite the approval process for new nuclear projects (including uranium mining projects) without bypassing the necessary environmental reviews.
Canada is currently the world’s second largest producer of uranium. In particular, the Athabasca Basin is home to the world’s largest high-grade uranium deposits, featuring grades up to 100 times greater than the average global ore deposits. The Athabasca Basin covers about 39,000 square miles, mostly in northern Saskatchewan. There are three uranium mines operating there currently, with three more proposed projects in various stages of review.
Still, Canada is encouraging further uranium exploration. Both the federal and provincial governments are offering tax incentives and credits to companies developing prospective uranium deposits. There is plenty of room in the market for future projects and a robust domestic supply of uranium is a matter of national security.
Stallion Uranium Corp. Exploration Program
In response to the exploding uranium market and the Canadian government’s desire to shepherd more projects, Stallion Uranium Corp. (TSX.V: STUD) (OTCQB: STLNF) (FSE: FE0) has assembled the largest land package in the southwestern region of the Athabasca Basin, historically less explored than the more developed eastern area but home to several recent discoveries. The company has identified nine tier one targets in the area following extensive airborne and ground-based electromagnetic surveys of its holdings.
For its initial drill program Stallion chose the Appaloosa Target, one of four identified target zones from its 100% owned Coffer Project. The Appaloosa Target hosts a ~3km long conductor zone, which shares similar geological structures to the proven Shea Creek deposit just 13km to the west. In this clip, Stallion Uranium’s CEO Drew Zimmerman discusses the promise shown by the initial Appaloosa drill results.
https://content.jwplatform.com/videos/R6YTbiUt-OXlGzjEC.mp4 (Video will be embedded when posted on our sites.)
In the next segment, Zimmerman talks about the company’s plans to follow up with a more informed and targeted drill program now that the company has successfully identified the conductive corridor. The area where the corridor intersects the geologic unconformity is the most likely location of a significant uranium deposit, the same type of geology that hosts the Shea Creek deposit.
In the final clip, Zimmerman explains why Stallion Uranium is focused on the southwestern portion of the Athabasca Basin. Compared to the more developed eastern region, home to two of the largest uranium mines in the world, the southwest has only recently been subjected to extensive exploration. Numerous conductive corridors remain untouched, and many of these areas are covered by the company’s vast land package.
Interested investors are encouraged to follow Stallion Uranium’s progress. Visit the company’s website for more details, and the company’s latest corporate presentation can be found here. Considering the government incentives for exploration and its desire to bring more uranium projects online, uranium exploration has probably never been a more attractive sector.
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