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

Uraniumx Reports Anomalous Radioactivity in 300-metre Step-out Holes at Murphy Lake

Athabasca Basin uranium explorer advances Murphy Lake drilling with consistent conductive corridor, awaiting assay confirmation.

By The Northwire Desk — AI Analysis Jun 09, 2026 · 03:05 STMN · 0.11 UraniumX Discovery Corp.
Executive Summary
  • UraniumX Discovery Corp. reported preliminary radiometric and geological results from drill holes ML26-017 and ML26-018 at the Murphy Lake Property.
  • Both holes intersected anomalous handheld and downhole gamma readings, alongside graphitic and sulphide-bearing deformation zones.
  • Combined with the first two holes (ML26-015 and ML26-016), all four drill holes have returned zero barren results, confirming a consistent ~300-metre conductive corridor along the Murphy Lake North Trend.
  • Preliminary spectrometer and gamma readings are not a substitute for laboratory assays; assay results for the first four holes are expected in the second half of 2026.
  • The 2026 exploration program is advancing to Target Area 4 to test along strike from historical hole ML22-006, with capital availability and continued positive results as prerequisites for expansion.
Material Impact
  • The release confirms geological continuity and validates the targeting model derived from the company-funded MLEM survey.
  • However, the data remains preliminary (radiometric readings only) and does not yet provide the definitive uranium grades required to re-rate the asset.
  • The market has already priced in the initial pitchblende discovery from early June. The stock has traded sideways to lower since the June 2 announcement, indicating the incremental step-out results are viewed as expected execution rather than a surprise.
  • No immediate change to the capital structure or near-term liquidity is triggered by this release.
STMN · Price
Company Overview
  • UraniumX Discovery Corp. is a junior uranium exploration company focused on the Athabasca Basin in Saskatchewan, Canada.
  • The flagship asset is the Murphy Lake Property, located approximately 5 km from IsoEnergy's Hurricane Deposit and 4 km from Cameco's La Rocque Lake Uranium Zone.
  • The company employs a project generation model, holding 100% interests in the Zoo Bay and NeoCore uranium properties while advancing Murphy Lake through an option agreement with F4 Uranium Corp.
  • The company recently rebranded from Stearman Resources Inc. and appointed Esen Boldkhuu as CEO in December 2025, shifting focus toward data-driven exploration and strategic partnerships.
Read the original news release →

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