Stallion Discoveries Initiates Exploration Efforts in the Athabasca Basin
VANCOUVER, British Columbia, March 01, 2023 (GLOBE NEWSWIRE) — Stallion Discoveries Corp. (the “Company” or “Stallion”) (TSX-V: STUD; OTCQB: STLNF) is pleased to announce that it has initiated its exploration efforts in the Athabasca Basin, Saskatchewan.
The Company has contracted Geotech Airborne Geophysical Surveys to complete a Versatile Time-Domain Electromagnetic (VTEM™ Plus) geophysical survey over all 78,831 hectares of the 8 projects Stallion holds in the basin. This survey will be spaced at 200m intervals and consist of 5,150km’s of flight lines. The company has engaged Condor Consulting given their vast experience in geophysical surveys for the QA/QC of this survey.
“The scale and coverage of this survey is truly impressive as the specialized helicopters will have over 5,000km’s of flight lines covering over 800sq/km’s. Given that this survey has been a key starting point for many companies in the region, to not only locate, but successfully outline conductors, it will lay the groundwork for our prospective target areas moving forward,” comments Stallion CEO, Drew Zimmerman. “To be able to cover such an extensive land package that is situated throughout some of the most prospective areas of the Athabasca Basin is an exciting time for the Company.”
About the Survey
Geotech’s exclusive and industry-leading VTEM™ (Versatile Time-Domain Electromagnetic) system has surveyed more than two million line-kilometers with confirmed results in many different deposits and host geologies for various industries.
This survey was utilized by both Fission Uranium and F3 Uranium in the Western Athabasca Basin during early exploration to successfully outline conductors on their properties.
How it Works
To see beneath the surface as clearly as possible, it’s critical to achieve the optimal ratio of power to noise. VTEM™ does this with a coincident vertical dipole transmitter-receiver configuration that provides a symmetric system response and features a high-power transmitter and low noise receiver.
VTEM™ generates currents that diffuse into the earth and, similar to water, always take the path of least resistance. Conductive material absorbs the currents and releases a secondary field that the
VTEM™ system measures. A strong conductor absorbs and releases more or all of the VTEM™ signal. A weak conductor absorbs and releases some or none of the VTEM™ signal.
VTEM™’s capacity to vary the pulse width provides our clients with an important competitive advantage. A long pulse energizes the earth for a longer period of time, allowing strong conductors to absorb more signal and release a secondary field. This enables VTEM™ to accurately assess the true conductance of the material. However, a long pulse shortens the time available to listen to the earth’s response. A short pulse, in contrast, provides more time to listen and allows for deeper exploration.
Further to the Company’s news release dated February 16, 2023, two insiders of the Company subscribed for a total of 240,000 units in connection with the Company’s non-brokered $0.25 unit private placement. Such participation is considered to be a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”). The transaction was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of any securities issued to nor the consideration paid by such persons exceeded 25% of the Company’s market capitalization. In addition, the Company would like to clarify that the total aggregate finder’s fees paid to eligible arm’s-length parties was $296,040. For additional details on the closing of the Company’s non-brokered private placement, please reference the news release of the Company dated February 16, 2023.
The Company also announces that it has engaged First Phase Media Inc. (“First Phase”) of Vancouver, BC, to provide marketing services through social media channels and online media distribution on an ongoing basis commencing on February 23, 2023, in consideration of CAD $4,000 per month, pursuant to an agreement dated February 23, 2023. First Phase does not currently own any interest, directly or indirectly, in the Company or its securities. The agreement with First Phase remains subject to approval of the TSX Venture Exchange.
William Breen, (Registered Member 04203997 of SME), is the Qualified Person as defined by NI 43-101, Standards of Disclosure for Mineral Projects, who has reviewed and approved the scientific and technical content of this press release. Mr. Breen is an officer of the Company.
About Stallion Discoveries
Stallion Discoveries is an exploration company bred to pursue the exploration of large, underexplored land packages located in the best jurisdictions next to world class projects with the singular ambition of making significant discoveries. Stallion is using modern exploration techniques to explore historical and new mineral targets on its expansive land packages in Saskatchewan, Idaho and Nevada. Our leadership and advisory team 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 with highly prospective targets.
For more information visit Stalliondiscoveries.com
For further information contact:
Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.