07:29 AM EDT, 06/27/2024 (MT Newswires) -- Stallion Uranium ( STLNF ) reported Thursday the preliminary results from the completion of a MobileMT airborne geophysical survey on its Sandy Lake uranium project in Saskatchewan.

The company said the results identified five discrete conductive trends as key target areas of the project.

"The completion of this survey has identified compelling target areas at Sandy Lake and takes the project another step closer to drill readiness," CEO Drew Zimmerman said.

Stallion said it is advancing the project towards drill readiness, and its follow-up work will include ground geophysics to refine targets in advance of drill testing.

The company's share price fell 7% yesterday on TSX to $0.065.