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A Deep Dive Into Standard Uranium’s Davidson River Project

Standard Uranium (TSX-V: STND) is a new player in the uranium exploration space, having made their IPO debut on the Toronto Venture Exchange in early May. Their flagship property is the Davidson River project, which sits in the far south-west corner of the Athabasca Basin in Saskatchewan, Canada and has never seen any prior diamond drilling. Despite being highly prospective ground for potential basement-hosted uranium mineralization, in the past the Davidson River project was off-limits to uranium exploration and then subsequently was tied up in a lengthy legal battle involving the property vendor.Those issues have been resolved and STND has acquired 100% ownership of the property with drilling fully permitted.

The company has had a number of recent and notable developments. In early July, Standard Uranium added Galen McNamara and Sean Hillacre as technical advisors to complement the already strong technical team. Galen, Sean and STND director Garrett Ainsworth all have significant experience with the geology and geophysical analysis of the southwest Athabasca Basin. STND has also recently acquired prospective uranium properties in the north-east and north-west parts of the Athabasca Basin. The company recently completed a heavily oversubscribed prospectus financing featuring broad institutional support, putting them in a strong capital position and leaving them fully funded for their planned summer drill campaign at Davidson River and initial exploration work at their other properties. As they recently press released, STND is currently mobilizing and preparing to commence their Phase I drilling campaign at Davidson River in August, now that infection rates of COVID-19 in the area's northern Indigenous communities have subsided.

In this interview, we sit down with Neil McCallum, Vice President of Exploration and Director at Standard Uranium. Neil is a geologist with over 15 years of experience, much of that focused on exploring for uranium in the Athabasca Basin. We were able to ask Neil about recent property acquisitions the company has made, as well as recent additions to the company's technical team and why their addition is important to success at Davidson River. Notably, we asked Neil to outline, in detail, exactly why STND is so excited about Davidson River and what data they have used to help identify their initial drill locations for their Phase I drilling program. Neil will explain to viewers the Clearwater Domain theory and why it is believed that Davidson River could lie on the same main conductive corridor that also hosts well-known, high-grade uranium deposits such as NexGen Energy's Arrow deposit and Fission Uranium's Triple R deposit. As the specific Davidson River area has never been drilled before, the company has relied heavily on geophysics to help with vectoring to the most prospective drill targets. We find out exactly what geophysical techniques and signatures the company has used, and importantly, how many of the geophysical features at Davidson River have similarities to features at the Arrow and Triple R deposits. It is these similarities that have the team at Standard Uranium, including Neil, quite excited and confident that they could be sitting on a future discovery of merit at Davidson River.

This interview is longer than normal and is designed for investors who are looking for a deeper level of due diligence and who may not be overly familiar with geophysics. Neil and Jon attempt to dissect the important geophysical elements in a manner that non-technically minded people can still understand. We provide timestamps below in case you want to skip to particular parts of the interview.

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You can find out more information on Standard Uranium at their website: https://www.standarduranium.ca/

00:00 Pre-Interview Intro
01:39 Interview Introduction
02:27 Neil's Thoughts on the Uranium Space
03:29 Neil's Background
06:40 Discussing Standard Uranium's Latest Property Acquisitions
10:38 Discussing Addition of Key Technical Advisors
13:00 What are Key Ingredients for Forming & Finding a Good Uranium Deposit
18:30 What is the Clearwater Domain and Why Is It Important
24:05 What Role Does Sandstone Cover Play at Davidson River
28:00 How Large Is the Alteration Envelope
30:34 Discussing the Geochemistry at Davidson River
35:02 Geophysics - EM Surveys & Magnetics
43:06 Geophysics - Cross Structures
48:33 Geophysics - Breaks and Offsets
53:55 Geophysics - VTEM Bright Spots
59:26 Geophysics - Change in Conductor Dip Direction
1:02:38 Geophysics - Integrating All Vectors
1:04:06 Scale Potential at Davidson River
1:10:01 Expectations Management on Initial Drilling
1:18:11 Concluding Discussion