Interview with Troy Boisjoli, CEO of ATHA Energy
Our previous interview: https://www.cruxinvestor.com/posts/atha-energy-tsxvsask-district-scale-uranium-play-builds-momentum-with-dual-discoveries-11012
Recording date: 8th September 2026
ATHA Energy Corp. (TSXV:SASK) is a Canadian uranium explorer built around a strategy of maximising exposure to the country's best uranium jurisdictions before committing capital to resource definition. Founded three years ago, the company grew from an initial 3.5-million-acre position in the Athabasca Basin to a seven-million-acre portfolio spanning the Athabasca Basin (Saskatchewan), the Angikuni Basin (Nunavut) and the Central Mineral Belt (Labrador), while retaining a 10% carried interest in Athabasca Basin projects operated by NexGen Energy and IsoEnergy.
The company's flagship is the 100%-owned Angilak Uranium Project in Nunavut, which hosts two parallel value drivers: the Lac 50 Deposit Corridor, carrying an existing exploration target of 61 to 98 million pounds U3O8, and the Mineralized RIB Corridor, where 2025 drilling produced four new discoveries including RIB North.
ATHA reported results from seven additional RIB North drillholes, extending confirmed mineralisation continuity from 300 metres to 1.45 kilometres along the corridor's eastern limb. The standout intersection returned 20.0 metres of composite uranium mineralisation across fifteen zones, including 1.3 metres of high-grade material defined by the company as exceeding 10,000 counts per second on its downhole gamma probe. A separate horizon on the western limb was extended to approximately 220 metres of strike via follow-up drilling. None of this work has yet been converted into a formal resource estimate, and the corridor remains open in every direction.
CEO Troy Boisjoli, a former Cameco chief geologist who led the Rook I project through to feasibility, framed the results as evidence of a deliberate, staged strategy: address discovery risk first through widely spaced regional drilling, then prove continuity, then move into delineation. He argues this sequencing, rather than rushing toward a resource statement, is what reduces execution risk for a company at ATHA's stage. VP Exploration Cliff Revering, previously a senior resource geologist at Cameco and chief geologist at Cigar Lake during its production ramp-up, leads the technical program alongside him.
Management's emerging geological thesis is one of the more distinctive elements of the story. Rather than a conventional Athabasca Basin-style unconformity system, ATHA believes Angilak's basement-hosted, structurally controlled mineralisation behaves more like an orogenic gold system, with graphitic and sulphide-bearing structures making conductive geology itself prospective, rather than a background feature unrelated to mineralisation. If the model holds up against 3D geophysical inversion results due across the full Angikuni Basin in Q4 2026, management believes it could support drill targets across a structural trend extending tens of kilometres, well beyond the roughly 1.45 kilometres tested to date.
The company enters that catalyst window well capitalised, having raised $63 million in Q1 2026, including a $25 million US investment from Queen's Road Capital, funding a three-rig, roughly 20,000-metre program running through the end of September 2026. Investors could weigh the scale of the opportunity management describes against the fact that no resource has yet been defined at either RIB North or the broader corridor, and that the company itself says it cannot currently quantify the eventual size of the system.
Learn more: https://www.cruxinvestor.com/companies/atha-energy
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