Mustang Energy initiates on-site planning for its 914W uranium project in Canada

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Release time：2025-05-28

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This field program will include ground exploration activities such as detailed rock and soil sampling to identify potential mineralized and altered zones.

Skyharbour Resources announced that its partner, Mustang Energy, has initiated a 2025 field exploration program at the 914W uranium project located in the Athabasca Basin of Saskatchewan, Canada. The 914W project covers 1,260 hectares and is situated 48 kilometers southwest of Cameco's Key Lake operation. The field program will include surface exploration activities such as detailed rock and soil sampling to identify potential mineralized and altered zones. This work aims to inform future exploration phases, including geophysical surveys and drilling. Mustang Energy can earn a 75% interest in the project subject to certain conditions, including share issuance, cash payments, and exploration expenditures within three years.

Mustang Energy CEO Nick Luksha stated: "We are pleased to be initiating the first field program this summer at 914W." "The geological characteristics of the project area are encouraging, and the work we are about to undertake is designed to generate meaningful results to guide the next phase of exploration." Skyharbour holds an extensive portfolio in the Athabasca Basin, encompassing over 614,000 hectares of uranium exploration projects.

Furthermore, the company also benefits from an improving uranium market and holds a 100% interest in the Moore Uranium project acquired from its significant shareholder, Denison Mines. Located near Denison's Wheeler River project and Cameco's McArthur River mine, the Moore project boasts high-grade uranium mineralization in the Maverick Corridor. Adjacent to Moore is the Russell Lake uranium project, which Skyharbour operates jointly with its partner RTEC. This project has shown extensive uranium mineralization with exploration potential. Skyharbour is actively advancing these projects through exploration and drilling programs. Additionally, Mustang Energy obtained an exploration license last October for the Ford Lake project, also located in the Athabasca Basin. This license, valid from September 1, 2024, to September 30, 2027, permits various exploration activities within the project's 7,743-hectare area.

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Mustang Energy initiates on-site planning for its 914W uranium project in Canada

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