Atha Energy Unveils Comprehensive 2024 Exploration Program Targeting Uranium Deposits in Nunavut and Athabasca Basin

Atha Energy has unveiled ambitious plans for its 2024 Exploration Program, with a particular emphasis on the Angilak Project in Nunavut and its projects in the Athabasca Basin. At the Angilak Project, the company is gearing up for an intensive diamond drilling campaign as part of its phase one program, scheduled to commence in June 2024. The primary objective is to expand the promising Lac 50 Deposit, which exhibits openness in all directions. With 10,000 meters of diamond drilling planned, Atha Energy aims not only to enhance the existing deposit but also unearth potential new discoveries within the vicinity.

Additionally, exploration drilling will target high-priority targets on parallel structures to Lac 50, previously identified as prime candidates for hosting uranium mineralization. Looking ahead to Phase II, Atha Energy will embark on a comprehensive airborne geophysics program encompassing electromagnetic, magnetic, and very low frequency (VLF) survey types. This phase will be complemented by targeted ground geochemistry sampling and mapping activities, with the overarching goal of pinpointing and de-risking a pipeline of additional high-priority targets, setting the stage for future exploration endeavors.

In the renowned Athabasca Basin, Atha Energy is poised to advance nine of its 100%-owned projects through a combination of ground and airborne geophysical surveys. By leveraging these techniques, the company aims to deepen its geological understanding across each project, thereby increasing the likelihood of making significant discoveries while optimizing capital expenditure for future drilling campaigns. Notably, Atha Energy's exploration efforts in the Athabasca Basin will be further augmented by the incorporation of projects such as Gemini, pending the completion of the proposed scheme of arrangement with 92 Energy Limited.

Gemini, which boasts the recently discovered high-grade GMZ showing, holds immense promise and will be seamlessly integrated into the company's broader exploration program. Atha Energy intends to provide a comprehensive update, including detailed drilling plans for the Gemini project, following the successful conclusion of the transaction. The company's ambitious plans highlight its commitment to expanding its portfolio and unlocking the potential of these promising regions. With a significant exploration program on the horizon, Atha Energy is well-positioned to drive growth and make significant contributions to the energy sector.