ATHA Completes Ground Geophysics and Commences 2025 Angilak Diamond Drill Exploration Program
4 June 2025
HIGHLIGHTS
The 2025 Angilak Exploration Program will comprise ~10,000 m of diamond drilling with two objectives:
Lac 50 Deposit – expansion of the footprint of uranium mineralization. Stepping out along strike and at depth from the 2024 Exploration Target (as defined below), which remains open and unconstrained.
Regional Exploration – focusing along the 31 km long Rib-Nine Iron Trend, which transects the Angikuni Basin extending under cover. Two high-priority target areas are anticipated to be Rib and KU Discoveries.
The Company will build upon the success of its 2024 maiden exploration campaign, which culminated in the release of an Exploration Target for Lac 50 Deposit, comprised of the Lac 48, 50, 52, and 54 Trends (the “Exploration Target”).
In May 2025, ATHA completed a ground gravity and electromagnetic (EM) survey, designed to vector in on priority targets along the highly prospective 31 km Rib-Nine Iron Trend, under cover of the Angikuni Basin – a direct analog to the Athabasca Basin. Two high-priority target areas were tested, representing ~5% of the currently identified trend:
KU Discovery – located within the basin along the northern margin, historical trench sampling has returned grades up to 30.7% U3O84,5,6 – KU remains untested with diamond drilling.
The survey identified a large gravity anomaly, measuring 2 km long by 500 m wide, coincident with a conductive corridor and numerous cross-cutting structures, where historic sampling has encountered high-grade uranium mineralization at surface.
Rib Discovery – located along the western margin of the Angikuni Basin where historic drilling by prior operators intersected shallow mineralization (<25 m depth) with grades up to 5.6% U3O81,2,3.
Two distinct areas were surveyed: Rib East, where a large gravity anomaly – measuring 2 km long by 500 m wide and coincident with a northeast-to-southwest conductive trend – was identified; and Rib West, which is highlighted by two large gravity anomalies. The first measures 900 m long by 250 m wide and is coincident with a highly conductive corridor that hosts the historic Rib Discovery. The second is 1.1 km long by 300 m wide, extending from the margin under the cover of the Angikuni Basin, and has yet to be drill tested.
At both Rib and KU Discoveries, the density lows, corresponding to gravity anomalies, along with the intensity of the conductive response and volumes, are consistent with alteration characteristics associated with high-grade basement and unconformity-style uranium mineralization, similar to the Athabasca Basin. The Rib and KU Discoveries are both high-priority targets that have been de-risked with modern geophysics, surficial geochemistry, and are associated with historic discoveries of high-grade uranium mineralization.
