Stallion Discoveries Geophysical Survey in Interpretation Phase
VANCOUVER, British Columbia, June 19, 2023 (GLOBE NEWSWIRE) — Stallion Discoveries Corp. (the “Company” or “Stallion”) (TSX-V: STUD; OTCQB: STLNF; FSE: HM4) is pleased to announce that Geotech Ltd. (Geotech) has completed processing the data from the VTEM™ Plus electromagnetic (EM) and magnetic survey that covered all of Stallion’s 100% owned 78,831 hectares in the Athabasca Basin, Saskatchewan.
Stallion has engaged Condor North Consulting ULC (“Condor”) to interpret the survey data, as previously announced on April 27th. Condor has now begun this interpretation work, which includes a full range of services for processing, modeling, and analysis of geophysical data. The team has extensive experience in all aspects of geophysics and works with clients to integrate geoscience data into a coherent project data set from which sound exploration decisions can be based. Condor has significant expertise in the Athabasca Basin and in uranium exploration. This technical continuity from data acquisition phase through to interpretation ensures best data quality leading to the success of the geophysical compilation and targeting of high priority zones and potential drill targets.
Stallion holds the largest contiguous land package in the western Athabasca Basin, when including its 100% owned and optioned joint-venture land with Atha Energy. The Company is continuing to execute on its exploration plans with a view to identifying target zones and high potential drill targets later this year.
Stallion has made the strategic decision to terminate the previously announced $4 million non-brokered private placement financing.
Management has determined that the Company has a sufficient cash balance to fund the ongoing exploration plans for its Athabasca Basin and Gold projects. “We recognize the transitory softness in the current market environment and have concluded that the financing is not necessary at this time given our balance sheet. We are focused on progressing our exploration plan and look forward to updating our investors on the results of the geophysical survey in the weeks ahead,” stated Mr. Zimmerman, Stallion’s CEO.
About Stallion Discoveries
Stallion Discoveries 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 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 two gold projects in Idaho and Nevada that neighbour world class gold deposits offering exposure to upside potential from district advancement with limited capital expenditures.
For more information visit Stalliondiscoveries.com or contact:
Lisa Stewart
Investor Relations
(604) 341-8177
lstewart@stalliondiscoveries.com
Drew Zimmerman
Chief Executive Officer
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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.
