Standard Uranium Ltd. is pleased to announce that it has signed a definitive property option agreement, dated September 26, 2025, with Collective Metals Inc., an arms-length party. Pursuant to the Option Agreement, the Optionee has been granted the option to acquire a seventy-five percent interest in the 4,002-hectare Rocas Project located in the eastern Athabasca Basin region.
“We are very pleased to have executed the Rocas Option deal with our new partners at Collective Metals quickly, allowing our team to get boots on the ground before the snow flies in Saskatchewan,” Sean Hillacre, Standard Uranium President and VP Exploration, stated. “This inaugural program will allow us to build a comprehensive understanding of the geology across Rocas prior to a maiden drill program, in addition to ground-truthing historic uranium occurrences through scintillometer prospecting and re-sampling.”
About the Rocas Project
The Rocas project comprises 4,002 hectares, located 75 kilometers southwest of the Key Lake Mine and Mill facilities along Highway 914, and approximately 72 kilometers south of the present-day margin of the Athabasca Basin. The project was acquired via staking in May 2023 and recently expanded by an additional 931 hectares. Standard Uranium holds a 100%-interest in the Property.
The Project covers 7.5 kilometres of a northeast trending magnetic low/electromagnetic (“EM”) conductor corridor which hosts several uranium showings, including historical mineralised outcrop grab samples along approximately 900 metres of strike length, grading up to 0.5 wt.% U3O8. Notably, none of the historical uranium occurrences have been drill-tested.
Historical airborne EM work in 2017 defined conductive trends on the Project west of and sub-parallel to the Key Lake Road shear zone, corresponding with favourable metasedimentary basement lithologies. Multiple parallel conductors, offsets, and termination points indicate the trend widening and potential cross-cutting structures. Additionally, a 2007 field sampling program identified anomalous lakebed geochemical anomalies that statistically rank as greater than 95th percentile U, Co, V, and Zn along the conductor corridor, including high U/Th ratios.
Exploration plans
The Company’s technical team will mobilise to the Rocas Project on September 30th, 2025, to undertake a detailed mapping, prospecting, and sampling program to ground-truth historical uranium showings at surface. Collected grab samples will be transported to Saskatchewan Research Council Geoanalytical Laboratories in Saskatoon, SK for geochemical analysis.
In 2024, the Company contracted MWH Geo-Surveys (Canada) Ltd. to complete a high-resolution ground gravity survey along known conductive exploration trends on the Rocas project. The survey was designed to aid in the identification of potential zones of hydrothermal alteration of host rocks associated with uranium mineralisation events.
Multiple new drill target zones have been identified on the Rocas project, outlined via the confluence of low gravity anomalies, historical surface mineralisation, lakebed geochemical anomalies, EM conductors, and crosscutting fault zones.
Ongoing geophysical interpretation and modelling is planned throughout 2025 to integrate historical results with newly collected datasets, which will provide high-priority drill targets and significantly derisk the Project prior to modern drilling next year.
The Company believes the Project is highly prospective for the discovery of shallow, high-grade* basement-hosted uranium mineralisation. Located south of the current margin of the Athabasca Basin, Rocas boasts shallow drill targets with bedrock under minimal cover of glacial till.
3-year earn-in option
Prior to exercise of the Option, the Company will act as the operator of the Project and will be entitled to charge a 10% fee on expenditures in Year 1, increasing to 12% in Year 2 and Year 3.
Following successful completion of the obligations of the Option (i.e., at the end of Year 3), Optionee will acquire a 75% equity in the Property, with Standard retaining 25% as well as a 2.5% net smelter returns royalty on the Project, of which 1.0% may be purchased back at any time for a one-time cash payment of $1,000,000.
The parties intend on forming an unincorporated joint venture for the further development of the Project. No finders’ fee is payable by the Company in connection with the Option.
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