Profiles

Fueling the future: Standard Uranium is on the hunt for the next big find

Photo provided by Standard Uranium

Saskatchewan is home to the Athabasca Basin, a region in the Canadian Shield known for its high-grade uranium. The Basin is the world’s leading source of that high-grade uranium, supplying about 20 per cent of the global market. Uranium was first discovered in the area in the 1940s, and the region is now home to many large mining and milling operations including McArthur River, Cigar Lake, Key Lake, and McClean Lake.

In the beginning

Before a uranium mine can begin production and supply this important market, an economically and environmentally feasible source must be found. This is where you’ll find junior exploration companies—on the ground looking for the next great mineral resource to be developed into an operating mine. Standard Uranium Ltd. is one of these companies, looking to make the next big discovery in the lucrative Athabasca Basin.

The next big thing

Standard Uranium CEO Jon Bey

Created in 2017, Standard Uranium went public on the TSX Venture Exchange on May 4, 2020. The company has five exploration projects underway in Saskatchewan’s north, all showing potential as viable sources for the province’s uranium sector.

“We created Standard Uranium to find the next major uranium discovery in Canada. The world is transitioning towards cleaner sources of energy, and nuclear energy is one of the cleanest. To power nuclear reactors, the world needs uranium,” says Jon Bey, CEO at Standard Uranium. “There is a shortage of uranium globally and the supply gap is getting larger each year. The world needs uranium mines more than ever and Saskatchewan is the best place on earth to find those mines.”

Boots on the ground

Sean Hillacre, vice president of exploration, leads the exploration work on Standard’s five projects which include the company’s Davidson River and Sun Dog projects. “Our flagship Davidson River project is next-door to NexGen Energy’s Arrow deposit which has proved itself a world-class resource since its discovery in 2014,” says Hillacre. “Davidson River shows similar geological promise, and we’re excited to be headed back in May for our fourth drilling program.”

Sean Hillacre, vice president of exploration, Standard Uranium.

The company’s Sun Dog project is near Uranium City and is also showing potential. It’s near the historic Gunnar uranium mines in the Beaverlodge district and its inaugural winter drilling program ended in April. The program identified several new high priority targets for exploration in the next phase of drilling in 2023. Hillacre admits that hunting uranium is a little like “finding a needle in a haystack” but the potential payoff is worth the effort. “Our investors believe in the work we’re doing to find high-grade uranium in the Basin,” he says. “Their investment combines with our exploration expertise to help drive the mining sector here in the province.”

Drill and deliver

The goal, of course, is to find a rich, viable and long-term source of uranium to be developed by a mining company. “Junior explorers are not actual miners,” says Hillacre. “Our goal is to find the source, prove it economic, and sell it to a company that will develop a working mine. All of which benefits the industry, our investors, and the economy.”

“Mining and exploration play a large role in the economy of Canada and Saskatchewan. Companies like ours create a great deal of employment and provide opportunities for communities that benefit from the work we are doing,” says Bey. “Saskatchewan has an abundance of natural resources and skilled labour forces. We are proud to partner with our First Nations and northern communities to drive growth and work to find solutions to power a clean energy future.”

Learn more about Standard Uranium at standarduranium.ca and follow them on Facebook, Twitter, YouTube, and LinkedIn.

Standard Uranium Ltd.
Unit 1220 – 606 Spadina Crescent East
Saskatoon
306.850.6699

200-550 Denman St
Vancouver
standarduranium.ca