Standard Uranium (CVE: STND- OTCQB: STTDF) CEO Jon Bey joined Steve Darling from Proactive to bring news about the company concluding their winter drill program.
Bey talks about how the program went and the fact the company plans to quadruple their summer drilling efforts.
Steve Darling [00:06]:
All right welcome back inside our Proactive newsroom and joining me now is John Bey the CEO of Standard uranium and john it's good to have you back again welcome
Jon Bey [00:14]:
Thanks Steve, great to be back again and great to be hosting on your program here
Jon Bey [00:18]:
Yeah, so we're gonna talk about uh what's going on in your project specifically about drilling so just before we do that just remind everyone a little bit about the project and just how excited you are about it
Steve Darling [00:30]:
Sure, would love to so first of all those people who may be new to our story we are Standard Uranium.
Jon Bey [00:34]:
We are a Canadian junior uranium exploration company and we're focused in the Athabasca Basin of Saskatchewan, Canada and our flagship project the Davidson River project we're going to be talking about today that's in the southwest corner just to the west of NexGen's Arrow and Fission's Triple-R project on the same conductor.
Steve Darling [00:51]:
So Jon, we had a chance to see some footage of you on-site during the winter drill program which was by all accounts a big success so tell everyone what happened over winter.
Jon Bey [01:03]:
Sure so winter was a great success. I mean dealing in the Saskatchewan winters is not always easy we started the program on time at the end of January it was -50 so for the first two weeks it was -50 so that kind of slowed us down at the start it was hard to operate you know the drill rigs have a hard time working fluids freeze up and it's just miserable at -50 so it warmed up to about minus 35 two weeks later and that was quite good so we managed to proceed throughout the drill program we had seven holes drilled over 3000 meters we had aimed to get nine holes in but the opposite thing happened at the end of the program it warmed up to plus 15 and that turned all our winter roads to mud so we have to be very careful not to damage the environment or damage our roads so we pulled up a couple holes short but those are all lined up for our summer program which is fantastic.
Steve Darling [01:51]
Yeah Jon, what did you learn during that winter program about the project?
Jon Bey [01:54]
We continue to gain insight into what we're hoping to find which is that we're identifying the same rock structures with the same formations and sheer stacked shear zones and good structure good alteration all leading us towards what we're hoping to be is our maiden discovery hole potentially this summer.
Steve Darling [02:12]
yeah and let's talk about the summer because you've put together a summer drill program and to say it's aggressive is a bit of an understatement you're quadrupling what were going to do just before your winter program?
Jon Bey [02:24]
Yeah so when that core comes out of the ground this winter and our geos are looking at it you know they get pretty excited and they're starting to identify certain things i mean i haven't mentioned that you know most of my geos have come to us from NexGen where they're heavily involved in the Arrow project and they know the rock formation's over there and they know exactly what we're looking for so when they saw the types of core that's coming through and it's identifying some of the things you can see from our website and on our news release it allows our team to get excited about what we wanted to do this summer and we made the strategic decision to go out and quadruple the size of the program we want to hit it it really hard and be aggressive this summer are you in a cash position to be able to do that we are we're fully funded right now we can continue to uh fund the entire program should we choose to do that we've got about three and a half million with more money coming in through warrants and potentially other options we've also um have people offering us money all the time but we don't need to take that right now we're to wait until the market's right and we don't want to you know keep the dilution down for our shareholders.
Steve Darling [03:21]
yeah and last question Jon when do you expect to when is the program start giving I know summer in Saskatchewan how does it start how does it work?
Jon Bey [03:29]:
So what we need to do is uh it has to clear out the snow then it has to dry up so that we can actually drive on those roads so typically that will be mid to late June.
Jon Bey [03:37]
So we anticipate a news release coming out in the near future we're going to talk about lining up all our vendors having those secured and then aiming to kick that off sort of mid to late June and we'll drill all the way through to the end of August, early September potentially.
Jon Bey [03:50]
One point to add on to that Steve. When you look at what's happening in the exploration programs right now and mining companies this is going to be a massive summer for drill programs all across Canada all across the U.S. companies are well funded they want to get drilling and the hard things are going to be to do is to secure your vendors to get the drillers you need and want to get all the vendors you need so it's really exciting when a company comes out and locks that down early on that's a great sign.
Steve Darling [04:17]
All right we'll keep an eye out for that news release for sure Jon, thank you very much good to see you again.
Jon Bey [04:21]
Hey great seeing you again Steve and I look forward to uh sharing our next news with your audience take care look forward to it.
Steve Darling [04:27]
All right you as well Jon Bey the CEO of Standard Uranium.