Standard Uranium announces financing as company plans drilling at Davidson River
02.05.2024 | NewsDirect
Standard Uranium CEO Jon Bey joined Steve Darling from Proactive to announce the company's decision to proceed with a non-brokered private placement, aiming to raise gross proceeds of up to $3 million. This funding will facilitate the return to drilling activities at the company's flagship Davidson River project, capitalizing on the current strength in the global uranium sector and the increasing importance of uranium as a green energy source.Speaking with Proactive, Bey highlighted the significance of the upcoming drilling campaign, which will focus on the Davidson River project located in the southwestern uranium district of the Athabasca Basin. The 2024 drilling program will build upon previous successes, targeting the most prospective basement structures and alteration zones identified to date. Additionally, new target areas within recently staked claim blocks will be explored, incorporating cutting-edge targeting vectors and machine learning techniques.
Standard Uranium is leveraging data-driven machine learning techniques to enhance drill targeting at Davidson River, utilizing anomaly detection, electromagnetic data mapping, and anomaly matching based on known world-class uranium deposits in the area. The application of machine learning extends to the company's internal drilling and geochemical databases, enhancing the efficiency and accuracy of targeting strategies.
Furthermore, Bey mentioned the consideration of additional geophysical surveys over high-priority areas to further refine the targeting strategy on the Davidson River project. With over 70 kilometers of graphitic conductors, the project presents significant discovery potential, positioning Standard Uranium for success in its exploration endeavors.
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