ATHA is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties
Stallion Discoveries and ATHA Energy Corp. Form Option for Joint Venture. (Credit: Khusen Rustamov from Pixabay)
Stallion Discoveries Corp. (the “Company” or “Stallion”) (TSX-V: STUD; OTCQB: STLNF; FSE: HM4) is pleased to announce that the Company has entered into a binding letter of intent with Atha Energy Corp. (“Atha”) (CSE: SASK) pursuant to which the Company and Atha shall seek to enter into definitive agreements which shall give the Company an option (the “Option”) to acquire a 70% interest in 47 mineral claims covering 547,524 acres in Saskatchewan’s prolific Western Athabasca Basin (the “Project”) by acquiring the requisite interest from Atha, which currently holds a 90% interest in the Project.
The addition of the Project to Stallion’s existing holdings is expected to significantly expand the Company’s land package in the Western Athabasca Basin to total 715,450 acres. Should the Option be exercised, the Company may hold an aggregate 692,647 acres that could form the largest contiguous project in the Western Athabasca basin. This Project’s lands, together with the Company’s current holdings, share significant borders with projects held by Cameco Corporation, Orano Canada Inc., NexGen Energy Ltd., Denison Mines Corp. and F3 Uranium Corp., as illustrated in Figure 1. The scale and strategic location of the asset base is expected to provide numerous high-potential target zones along several major trends as Stallion continues its exploration efforts.
“We are thrilled to announce this transformational option to expand our position in the Western Athabasca basin. There is significant strategic value in gaining access to this land package that is directly adjacent to our current projects. We and other key stakeholders in the district believe that the Western Basin is underexplored and provides tremendous opportunity for exploration success. Stallion now has the potential to hold the largest continuous land package in the Western Athabasca basin, offering exploration synergies and more target areas as we execute on our exploration plan,” stated Stallion CEO, Mr. Drew Zimmerman.
As previously announced on March 1, 2023, the Company has commenced the first phase of its exploration program in the Athabasca Basin, completing the data acquisition phase announced on April 27, 2023, and will provide further updates to the program in the coming weeks.
Source: Company Press Release