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Atha Energy reports significant exploration results and updated resource potential at Angilak

Atha Energy CEO Troy Boisjoli joined Steve Darling from Proactive to share news the company has announced announced key findings from the updated 2024 Technical Report, Exploration Model and Phase I diamond drilling campaign at the company’s 100%-owned Angilak Uranium Project in Nunavut. The third-party Technical Report defines a baseline Exploration Target for the Lac 50 Deposit, estimating between 60.8 M lbs and 98.2 M lbs U₃O₈, with average grades ranging from 0.37% to 0.48% U₃O₈. This establishes the Lac 50 Deposit as a cornerstone of the project's resource potential. Assay results from the Phase I drilling campaign, completed in late August, further reinforce the project's promise. Key highlights include mineralized grades of up to 5.85% U₃O₈ over 0.5 meters and the expansion of mineralized domains along the Lac 50 Trend. The program also identified additional mineralized zones in parallel trends, named Lac 48, Lac 52, and Lac 54, signaling untapped potential across the property. The Lac 50 Deposit remains open along strike and at depth, and several high-priority exploration targets, such as the Dipole and Nine Iron showings, indicate further discovery opportunities outside the main deposit area. Atha’s 2024 Exploration Program focused on large step-outs from known uranium mineralization and testing parallel trends to advance the Angilak Project toward a production-scale uranium operation. The results bolster Atha Energy’s position as a leading uranium exploration company with significant growth potential in Nunavut. #proactiveinvestors #athaenergycorp #tsxv #sask #otcqb #saskf #mining #uranium #AthaEnergy #ResourceExpansion #UraniumExploration #NuclearEnergy #EnergyInvesting #AngilakProject #NaturalResources #CEOInterview #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews
Duration:
5m
Broadcast on:
27 Nov 2024
Audio Format:
other

All right, welcome back inside our proactive newsroom. Joining me now is Troy boys jolly is the CEO of ATHA Energy. And Troy, welcome back. Good to see you again. I see it great to be with you. Yeah, good stuff. So company with a really interesting news release. We've got some results. And we'll talk about those in just a second. But you also updated the technical report. And the reason why you did behind that is really to show a bit about the project itself and the potential for the size. And maybe you can sort of explain to us what this report really shows. Sure, maybe I'll step back for a second, Steve. Anglak, coming off a drill program at Anglak, 10,000 meters of drilling, 25 drill holes, all of them stepping out from the resource. And the resource, as it sits today, is a 43 million pound resource at an average rate of 0.69% U308. The objective of this program was adding scale. We wanted to demonstrate the scale that we saw in the project. We bought this project from Latitude Uranium. We bought Latitude Uranium for this project more specifically. And we bought it because we viewed that this is a project that had and has significant scale and significant upside. And the program that we just came through this year went a long way in defining that. And that exploration target model now has a range of 60 to 98 million pounds. And that's backed up and backstopped by drill holes in the ground with assay results. Absolutely. Let's talk about those assay results, because as you showed, we're very good. And these were some step outs as well. So as you just described there, you're starting to see that bit of depth and size of the project. Yeah, exactly. So drill program itself in the assay results. What we saw with the assay results is they fit right within the grade profile of Anglak. And that's something that was key for us. What it showed is, hey, we stepped out along the LAC 50 trend itself, along the deposit. Every hole within that trend was a step out hole from known mineralization. Then in addition to that, what we also did was we drilled in the LAC 48, the LAC 52, and the LAC 54 trends. Then identifying significant growth scale opportunities in these parallel structures and parallel trends to the LAC 50 deposit. Now, what that does for us, Steve, is it enables us to move from being reactive to predictive in terms of resource growth. And this was a key step for APHA in being able to de-risk future programs at Anglak with the objective of substantially increasing the size of the resource based up the work that we've done, the modeling that we've done. So significant de-risking event for us. And you think about it in the context and of uranium projects, both within the Canadian landscape and globally, and you start to talk about a project within the upper range that have 98 million pounds. And that's very substantial. There are very, very few projects of that scale within the uranium landscape. But moreover, Steve, that's a model that is based on drilling alone. And so you go outside of that, and then you look at an exploration window above that target range. Right within the footprint of the LAC 50 area, we have the mushroom lake outcrop. That's about 3 kilometers long, has sent results or radiometric results that were identified across the strike of it during the summer's program. That doesn't even have a drill hole into it yet. And so the growth potential on this project is very strong. And the work that we did this year took us a long way to de-risking that growth phase. Yeah, it really puts the company taking a step up above other companies within Canada and really within your sector to show the potential that you have here, especially when we talk about uranium and the desperate need for it. Yeah, that's right. And that comes back to-- I would agree with that. And that comes back to our strategy and our approach overall. At Alpha, we've had an aggressive growth strategy. We're not that old. We were listed in April of last year. We grew significantly over the first calendar year. The last number of months were spent adding value and solidifying the value in the transactions and the acquisitions that we made on the assets that we acquired. But expect us to continue with that approach. Expect us to continue to materially and aggressively advance our portfolio of assets. Because when you look at the macro-uranium environment, I've been in the uranium space a long time. And this is truly a generational opportunity in the uranium space. So we seek to take advantage of that. All right. Any plans for next year yet? Have you got to that point yet? I know there's a lot of data still to come in that you're mulling over. So have you got some thoughts for next year yet? Yeah, exactly. Data is coming in. Models based off this exploration model. We're now building out drill programs and plans for 2025. Expect us to be very active at AMULAC again. We have drills on site, fuel on site. We're good to go. OK, we'll leave it there. Troy, thanks very much. Good to see you again. Very interesting news release. I'd appreciate your time explaining it. Yeah, thanks. You appreciate it. All right, there's Troy Boyce Jolly, the CEO of ATHA Energy.
Atha Energy CEO Troy Boisjoli joined Steve Darling from Proactive to share news the company has announced announced key findings from the updated 2024 Technical Report, Exploration Model and Phase I diamond drilling campaign at the company’s 100%-owned Angilak Uranium Project in Nunavut. The third-party Technical Report defines a baseline Exploration Target for the Lac 50 Deposit, estimating between 60.8 M lbs and 98.2 M lbs U₃O₈, with average grades ranging from 0.37% to 0.48% U₃O₈. This establishes the Lac 50 Deposit as a cornerstone of the project's resource potential. Assay results from the Phase I drilling campaign, completed in late August, further reinforce the project's promise. Key highlights include mineralized grades of up to 5.85% U₃O₈ over 0.5 meters and the expansion of mineralized domains along the Lac 50 Trend. The program also identified additional mineralized zones in parallel trends, named Lac 48, Lac 52, and Lac 54, signaling untapped potential across the property. The Lac 50 Deposit remains open along strike and at depth, and several high-priority exploration targets, such as the Dipole and Nine Iron showings, indicate further discovery opportunities outside the main deposit area. Atha’s 2024 Exploration Program focused on large step-outs from known uranium mineralization and testing parallel trends to advance the Angilak Project toward a production-scale uranium operation. The results bolster Atha Energy’s position as a leading uranium exploration company with significant growth potential in Nunavut. #proactiveinvestors #athaenergycorp #tsxv #sask #otcqb #saskf #mining #uranium #AthaEnergy #ResourceExpansion #UraniumExploration #NuclearEnergy #EnergyInvesting #AngilakProject #NaturalResources #CEOInterview #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews