Categories: Mining Stocks
Topics: Uranium Stocks

Low-priced and drilling for high-grade uranium in Canada's prolific Athabasca Basin

Atco Mining Inc. (CSE: ATCM)(OTC: ATMGF) — currently trading undiscovered around C$0.06 per share — has announced the start of drilling at the Atlantic uranium project located in the prolific eastern Athabasca Basin in northern Saskatchewan, Canada.

The Atlantic project covers 6.5 km of an 18-km-long east-west trending conductive exploration trend, which lays host to numerous uranium occurrences. Atco has an option to earn a 75% interest in the project over three years from Standard Uranium Ltd. (TSX-V: STND)(OTC: STTDF).

The start of drilling at Atlantic comes just a week after the signing of the definitive option agreement — a true testament to Standard Uranium’s exploration proficiency in the Athabasca Basin region. 

With Standard Uranium as operator, and with Atco funding 100% of the exploration costs, the program is being deployed to test for high-grade unconformity-related uranium mineralization based on historical drill holes, geophysical anomalies, and EM conductors.

Standard completed a high-resolution ground gravity survey on the western claim block in 2022, revealing multiple subsurface density anomalies, potentially representing significant hydrothermal alteration zones in the sandstone rooted to basement conductors.

Standard Uranium has commenced drilling the first hole at Area A — a high-priority target based on EM conductors and interpreted faults — in what’s anticipated to be a 4 to 6 hole inaugural program spanning 2,000 to 3,000 meters. 

Additional holes will follow up on highly anomalous uranium results and a major structure intersected in Area A in previous drill hole BL-16-32 (see below, left).

Atco Mining CEO Etienne Moshevich commented on the fast start to drilling at the new JV project via press release:

“We are extremely excited that we’re able to kick-start our drill program so quickly. The next four to six weeks are going to be an important time for our Company and I look forward to updating our investors with our progress over the coming quarters.”

Additionally, Atco Mining holds a large portfolio of early-stage salt dome exploration assets (for potential green hydrogen storage) in southwestern Newfoundland, Canada, where the government of Newfoundland is moving forward with plans to utilize the province’s vast wind energy resources to power the production of green hydrogen and other gases.

As potential there materializes through an ongoing bidding process for large-scale wind farm projects designed to supply power for new hydrogen plants, the Atlantic uranium project gives ATCM shareholders immediate exposure to an active uranium drill play in the Athabasca Basin — the highest grade uranium depository in the world — in a climate of strong uranium prices. 

For additional information on Vancouver-based Atco Mining, please be encouraged to contact the company’s IR department at 604-681-0084 or via email at info@atcomining.com. 

Sign up to receive updates directly from the company at the Atco Mining corporate website.  

You can also follow our ongoing series of exclusive interviews with top Atco Mining personnel — including CEO Etienne Moshevich and director Neil McCallum. 

Yours in profits,

Mike Fagan
Editor, Resource Stock Digest

Click here to see more from Atco Mining