Northwire Canada EditionTuesday, September 1, 2026
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Drill Results Routine +

Uraniumx Reports Visually Identified Pitchblende At Murphy Lake

UraniumX’s Murphy Lake Drill Hit Validates Athabasca Targeting Model as Assays Loom

By The Northwire Desk — AI Analysis Jun 02, 2026 · 07:00 STMN · 0.13 UraniumX Discovery Corp.
Executive Summary
  • UraniumX Discovery Corp. released initial results from the first two drill holes (ML26-015 and ML26-016) of its 2026 diamond drill program at the Murphy Lake Property.
  • Hole ML26-015 intersected visually identified pitchblende with anomalous radioactivity up to 460 cps over 1.0 metre, located approximately 3 metres above the unconformity.
  • Downhole gamma readings exceeded 500 cps over 4.3 metres, accompanied by a complete suite of hydrothermal alteration (bleaching, clay, chlorite, sulphides, graphite) characteristic of unconformity-hosted uranium deposits.
  • Hole ML26-016, a step-out hole, intersected similar but less intense alteration with spectrometer readings under 300 cps.
  • The program has completed 934 metres across two holes, with samples submitted to SRC Geoanalytical Laboratories for assay confirmation.
  • Drilling is advancing to Target Area 2 to test additional conductors along a multi-kilometre prospective corridor near major uranium producers.
  • The property is located 5 km from IsoEnergy’s Hurricane Deposit, 4 km from Cosa Resources’ Cyclone trend, and 4 km from Cameco’s La Rocque Lake zone.
Material Impact
  • The news represents the first tangible geological confirmation from the 2026 drill program, validating the company's targeting model and the MLEM geophysical survey results.
  • The discovery of visually identified pitchblende and a full alteration suite is geologically significant and aligns with the high-grade unconformity-hosted deposits in the immediate vicinity.
  • However, the results are preliminary, relying on handheld spectrometers and downhole gamma probes rather than laboratory assays. True thicknesses and grade estimates remain pending.
  • The market was already primed for these results following the May 26 commencement announcement and the $2 million fully funded program. Consequently, the release is incremental and expected rather than a surprise catalyst.
  • The impact is positive but routine, as junior exploration stocks typically require assay confirmation and multi-hole intersections to drive material price appreciation.
STMN · Price
Company Overview
  • UraniumX Discovery Corp. (formerly Stearman Resources) is a uranium exploration company focused on the Athabasca Basin in Saskatchewan, Canada.
  • The flagship Murphy Lake Property covers 609 hectares and is located approximately 30 km northwest of Orano's McClean Lake milling operations.
  • The company holds up to a 70% interest in Murphy Lake via an option agreement with F4 Uranium Corp.
  • Additional assets include the 100% owned Zoo Bay Uranium Project (19,850 hectares) and the NeoCore Uranium Property (13,012 hectares), acquired via option.
  • The company rebranded and transitioned to the OTCQB Venture Market under the symbol STMXF in May 2026.
Read the original news release →

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