Standard Uranium (TSX-V:STND) announces a non-brokered private placement to raise up to C$4 million ($4.04 million) to expand its upcoming Davidson River project drill program.
The placement offers units at C$0.10 each, comprising one common share and half a warrant. Each warrant entitles the holder to purchase additional shares at C$0.15 within 36 months, subject to TSX-V and securities approvals and accelerated expiry if shares trade above C$0.30 for 10 consecutive days.
With the placement, the company plans to use the proceeds to substantially increase drilling across the Warrior, Bronco, and Thunderbird conductor corridors during its 2026 summer program at the flagship Davidson River Project in Saskatchewan’s southwest Athabasca Basin.
Drilling campaign takes shape
Standard Uranium enters the final operational countdown to its first Davidson River drill program since 2022, with targets confirmed, permits secured, the Clearwater River Dene Nation exploration agreement signed, and key contractors in place.
Targeting basement-hosted, ‘high-grade’ uranium mineralisation, the campaign focuses on regional structural trends hosting significant deposits — including the Arrow deposit of NexGen Energy (ASX:NXG) and the Triple R deposit of Paladin Energy (ASX:PDN).
The company completed the first ExoSphere Multiphysics surveys, partnering with Fleet Space Technologies to integrate three-dimensional ambient noise tomography, horizontal-to-vertical spectral ratio, and ground gravity data.
These surveys generated cover-corrected, three-dimensional models of basement velocity, density, and structural architecture across the three corridors, producing models that the company considers its ‘highest-confidence drill targets’ at Davidson River.
Standard Uranium will deploy two drill rigs simultaneously to maximise metres and accelerate testing of priority targets. Mobilisation to site begins 31 May, with drilling commencing shortly thereafter.
Davidson River spans 30,737 hectares across 10 contiguous mineral claims along the western extension of structural corridors hosting the southwest Athabasca’s most significant uranium discoveries. The company holds interest in over 219,327 acres across the Athabasca basin.
Standard Uranium is a Canadian uranium exploration company focused on discovering and advancing basement‑hosted and unconformity‑related uranium deposits in the Athabasca Basin to support global energy supply security.
Write to JC Villarba at Mining.com.au
Images: Standard Uranium
