Stallion Uranium Up 6.6% as it Expands Drilling Program at Coyote to 5,500 Meters Following "Positive" Results
Stallion Uranium (STUD.V) shares rose 6.6% after it expanded its ongoing drilling program at the Coyote Target within the Moonlite Project in the Athabasca Basin, Saskatchewan, from 4,000 meters to 5,500 meters due to "encouraging early results," on Wednesday.This expansion follows the intersection of "significant" hydrothermal alteration, complex structural corridors, and elevated radioactivity in the initial drill holes, it said. These features are recognized as key indicators of a potentially larger mineralized uranium system in the Coyote Corridor, it added."The scale of alteration and strong structural features combined with elevated radioactivity reinforce our belief in the potential for a meaningful mineralized system," said Stallion Uranium Chief Executive Matthew Schwab. "We look forward to stepping up our drilling efforts to further test this highly prospective corridor."Based on the "promising" current drilling results, samples have been sent for assay, it said. The company has also engaged Abitibi Geophysics to complete additional Ground SWML TDEM survey coverage over the Coyote Corridor.Shares of the company were last seen up $0.02 at $0.325 on the TSX Venture Exchange.Price: $0.33, Change: $+0.02, Percent Change: +6.56%
