Stallion Uranium Releases Non-Core Richmond Mountain Gold Project
July 11 2024 - 5:21PM
Stallion Uranium Corp. (the
"Company" or
"Stallion") (TSX-V: STUD; OTCQB: STLNF; FSE: FE0)
announces that they have released the Richmond Mountain gold
project (the “Project”) back to Bronco Creek Exploration Inc., a
wholly-owned subsidiary of EMX Royalty Corporation (TSX-V:
EMX).
The Richmond Mountain project consists of 117
mining claims that cover over 950 hectares at the southern end of
the Battle Mountain-Eureka Trend, located roughly 1km east of
Eureka, NV. The target of the Project was the Paleozoic sedimentary
formations or the Graveyard Flats intrusive, first identified from
a Controlled Source Audio-frequency Magneto-Tellurics (CSAMT)
geophysical survey, which indicated the presence beneath the
volcanic cover. A previous company completed a historical 2010
drill hole that reached 1,500 feet and bottomed within the
post-mineralized volcanic cover. Stallion conducted a deep
penetrating TITAN MT survey in 2023 that outlined the potential for
the graveyard flats to begin just past the 1,500-foot depth.
Stallion completed a drill hole, RM-24-001 to a depth of 2,282.8
feet, to test the new geophysical results. The upper 673.8 feet
comprised colluvium and overburden, followed by a sequence of
volcanic rocks including tuff, rhyolitic tuff, andesite, and basalt
interspersed throughout the remaining depth. Despite extending to
2,282.8-foot depth, the anticipated Paleozoic sedimentary
formations or the Graveyard Flats intrusive were not intercepted
and drilling was halted due to the unexpectedly deep volcanic
cover. These results led to the decision to release the
project.
Qualifying StatementWilliam
Breen, (Registered Member 04203997 of SME), is the
Qualified Person as defined by NI 43-101, Standards of Disclosure
for Mineral Projects, who has reviewed and approved the scientific
and technical content of this press release. Mr. Breen is an
officer of the Company.
About Stallion Uranium
Stallion Uranium is working to Fuel the Future
with Uranium through the exploration of over 3,000 sq/km in the
Athabasca Basin, home to the largest high-grade uranium deposits in
the world. The company, with JV partner ATHA Energy, holds the
largest contiguous project in the Western Athabasca Basin adjacent
to multiple high-grade discovery zones.
Our leadership and advisory teams are comprised
of uranium and precious metals exploration experts with the capital
markets experience and the technical talent for acquiring and
exploring early-stage properties.
Stallion offers optionality with a gold project
in Idaho that neighbours a world class gold deposit offering
exposure to upside potential from district advancement with limited
capital expenditures.
For more information visit stallionuranium.com
or contact:
Drew ZimmermanChief Executive
Officer778-686-0973info@stallionuranium.com
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This news release contains forward-looking
statements and forward-looking information within the meaning of
Canadian securities legislation (collectively, “forward-looking
statements”) that relate to the Company’s current expectations and
views of future events. Any statements that express, or involve
discussions as to, expectations, beliefs, plans, objectives,
assumptions or future events or performance (often, but not always,
through the use of words or phrases such as “will likely result”,
“are expected to”, “expects”, “will continue”, “is anticipated”,
“anticipates”, “believes”, “estimated”, “intends”, “plans”,
“forecast”, “projection”, “strategy”, “objective” and “outlook”)
are not historical facts and may be forward-looking statements and
may involve estimates, assumptions and uncertainties which could
cause actual results or outcomes to differ materially from those
expressed in such forward-looking statements. No assurance can be
given that these expectations will prove to be correct and such
forward-looking statements included in this material change report
should not be unduly relied upon. These statements speak only as of
the date they are made.
Forward-looking statements are based on a number
of assumptions and are subject to a number of risks and
uncertainties, many of which are beyond the Company’s control,
which could cause actual results and events to differ materially
from those that are disclosed in or implied by such forward-looking
statements. The Company undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required
by law. New factors emerge from time to time, and it is not
possible for the Company to predict all of them, or assess the
impact of each such factor or the extent to which any factor, or
combination of factors, may cause results to differ materially from
those contained in any forward-looking statement. Any
forward-looking statements contained in this presentation are
expressly qualified in their entirety by this cautionary
statement.