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Bayridge Resources Engages Geotech for VTEM Survey at Waterbury East Project
https://www.newsfilecorp.com/release/208466
May 09, 2024 6:00 AM EDT | Source: Bayridge Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2024) - Bayridge Resources Corp. (CSE: BYRG) ("Bayridge" or the "Company") is pleased to announce the engagement of Geotech Ltd., to undertake a helicopter supported VTEM survey on its 1,337 ha Waterbury East uranium project in Canada's Athabasca Basin.
"Bayridge is getting a quick start on exploration of its key Athabasca Basin assets with the imminent VTEM survey at Waterbury East," commented President & CEO Saf Dhillon. "The Company anticipates the results of the Geotech survey will further delineate the prospective ENE trending corridor in preparation for a fully funded 2024 Q2 drill program," he continued.
The Waterbury East project is underlain by geology favourable to hosting both unconformity-hosted and basement-hosted uranium deposits. These deposits are typically associated with graphitic metasediments and structural zones that exhibit strong EM conductor responses. Historical airborne EM surveys have defined an ENE-striking conductor across the property, with a depth to unconformity of ~200m. Most of the uranium discoveries in the Athabasca Basin are concentrated along the unconformity edge, where the sedimentary cover is the thinnest (<300m).
In 2006, CanAlaska reported encouraging results from an initial drill program, with an intersection of 17.0 m of anomalous basement-hosted uranium mineralization, containing a highlight value of 324 ppm U over 0.6 m in a structurally controlled zone. Interpreted geophysical magnetic lineaments suggest additional structures occur in the basement. *Readers are cautioned that Bayridge has not verified these historical results.
The 2024 VTEM survey on Waterbury East is designed to better delineate the historically-defined ENE-trending conductor across the property in higher spatial resolution. The results from the VTEM survey will assist in defining exploration targets for 2024 Q2 drilling. The Company anticipates the survey to commence mid to late May.
Bayridge holds an option to earn up to an 80% interest in Waterbury East through a series of cash payments, share issuances and exploration expenditures over the next 4 years. Waterbury East is located 25 km northeast of the Cigar Lake Mine, 15 km south of Points North and is accessible from the Cigar Lake winter road.
R. Tim Henneberry, P.Geo. (BC) and a consultant to the Company, is the Qualified Person under National Instrument 43-101 who has reviewed and approved the technical content of this release.
About Bayridge Resources Corp.
Bayridge Resources Corp. is a green energy company advancing its portfolio of Canadian uranium and lithium projects. The 1,337 ha Waterbury East project is located 25 km northeast of the Cigar Lake Mine in the northeastern Athabasca Basin region. Geophysical surveys have identified a 7km long conductivity corridor where mid-2000's drilling highlighted faulted and altered basement rock with local uranium enrichment. Large sections of this corridor remain untested. The 11,142 ha Constellation project is located 60 km south of the present-day Athabasca Basin edge in an area of significant exploration activity for basement hosted uranium. Historic airborne radiometric, electromagnetic, and magnetic surveys identified electromagnetic conductors associated with magnetic lows. The 4,413 ha Sharp Lake project, located in the Red Lake Mining District of Northern Ontario, hosts peraluminous S-type muscovite bearing pegmatite bearing granites in contact with metasediments. Preliminary sampling has highlighted anomalous rare-element values, potentially indicative of lithium mineralization.
For more information, please contact:
Saf Dhillon, President & Chief Executive Officer
E-mail: saf@bayridgeresources.com
Tel: 604-484-3031
Forward-looking information
Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding Geotech's engagement, the scope and timing of Geotech's services and the Company's exploration plans. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.
The CSE has not reviewed, approved, or disapproved the contents of this press release.
SOURCE: Bayridge Resources Corp.
ALX Resources Announces Definitive Option Agreement with Trinex Minerals for the Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan
https://www.newsfilecorp.com/release/208342
May 08, 2024 7:30 AM EDT | Source: ALX Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2024) - ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF
TONOGOLD Announces that Its Merger Partner has Added to Its Uranium Portfolio
https://www.accesswire.com/861652/tonogold-announces-that-its-merger-partner-has-added-to-its-uranium-portfolio
Thursday, 09 May 2024 05:20 PM
Highlights
Two leases have been granted near the Sky Project, providing an additional 5.2km2 in the highly prospective region.
Sky Property is adjacent to one of Uranium Energy Corp (NYSE: UEC) Wyoming Projects (see Figure 4), with proximity to licensed, operating processing plants using both conventional an in-situ recovery.
WOODLAND HILLS, CA / ACCESSWIRE / May 9, 2024 / TONOGOLD Resources Inc (OTC PINK:TNGL)
Eagle Plains and Xcite Provide Update on Don Lake Uranium Project
https://www.accesswire.com/861202/eagle-plains-and-xcite-provide-update-on-don-lake-uranium-project
Thursday, 09 May 2024 07:00 AM
CRANBROOK, BC / ACCESSWIRE / May 9, 2024 / Eagle Plains Resources Ltd. (TSXV:EPL) or ("Eagle Plains") and Xcite Resources Inc. (TSX-V:XRI) ("XRI or Xcite"), have received the results from a data compilation on the Don Lake uranium project, located 4 km NE of Uranium City, Saskatchewan. The Don Lake project hosts near surface high grade uranium mineralization and is one of six 100% owned Eagle Plains uranium properties under option to Xcite (see EPL/XRI news release Dec 14, 2023). The compilation and interpretation of available data will lead to recommendations for 2024 fieldwork.
Don Lake Data Compilation Highlights
Six uranium mineral showings on property, spatially related to cross-faulting and regional Boom Lake and Black Bay faults.
Structurally controlled mineralization associated with EM conductors.
Excellent infrastructure - road-accessible from Uranium City.
Property underlain by Archean granitic gneisses of the Tazin Group, prospective rock-types for Beaverlodge-style basement-hosted U mineralization.
Historical drilling that tested structurally-controlled uranium mineralization in faults and fractures returned up to 10.7% U3O8 over 0.3m (DDH No. 23) and 2.14% U3O8 over 0.67m (DDH No. 6).
See EPL Don Lake Compilation map HERE
About the Don Lake Project
The road accessible 524ha project overlies 6 Saskatchewan Mineral Deposit Index ("SMDI") occurrences associated with Beaverlodge-type basement hosted uranium mineralization.
The property is transversed by the parallel, northeasterly-striking Boom Lake and Black Bay Fault, the latter of which is a regional structure that is inferred to control uranium mineralization in the Beaverlodge camp. In the southeast corner of the property Martin Group sediments form an unconformable contact with older Tazin Group gneisses, along the hanging wall of the Black Bay Fault.
Uranium mineralization at Don Lake is structurally controlled, occurring as pitchblende hosted in fractures and veins associated with faults and shear zones, and often associated with graphite and sulphides.
Three zones of radioactivity and U mineralization have been identified at the Don Lake A, B and C Zones (SMDI 1393), which has been traced by historical drilling and trenching over approximately 525m.
Zone A is a vein system with a length of 213.4 m, that crosses the trend of a northeast-striking lineament. Fourteen trenches and 20 shallow drill holes have been completed over the zone. Analytical results range from trace values up to 8.57% U3O8 over 0.91m and 2.86% U3O8 over 0.61m in trenching and 10.7% U3O8 over 0.3m and 2.14% U3O8 over 0.67m in drilling (AF74N10-0422).
Zone B, positioned to the northwest and interpreted to be a continuation of the mineralized trend observed at Zone A, has seen 12 shallow diamond drill holes and 20 trenches completed. Trench sampling reported grades as high as1.17% U3O8 over 1.98m, with drilling results including 0.71% U3O8 over 0.34m and 0.64% U3O8 over 0.3m. The uranium mineralization occurs in series of veins and fractures.
Zone C is positioned to the southeast of Zones A and B and further defines the NW-SE mineralized trend. 6 shallow drillholes and 9 trenches have been completed at Zone C, where trench samples returned from trace amounts up to 3.02% U3O8 over 0.61m and drilling intercepts included 0.80% U3O8 over 0.3m and 0.85% U3O8 over 0.52m.
At Radioactive Occurrence 50-CC3-10 and -44 (SMDI 1383), and the Midas Cu-U Showing (SMDI 1384) pitchblende occurs as in shears associated with the Crackingstone Fault. Showings associated with the Townend Fault Uranium Showings (SMDI 1385) host pitchblende in fracture splays and breccia zones. A 10 ft (3.1 m) channel sample taken across a width of 1.0 ft (0.30 m) assayed 1.63% U3O8. (AF74N10-0056).
At the A.R. Hawker Trench ARH-2 (SMDI 2116) structurally controlled uranium and sulphide mineralization is associated with net textured quartz veins. Grab samples from trenches and surface showings returned from trace values up to 1.2% and 0.78% U3O8 (AF74N10-0453).
Don Lake History
Anomalous radioactivity at Don Lake was first noted by the Geological Survey of Canada in 1948, with the first claims recorded later that year by the Eldorado Mining and Refining Company. In 1950, Aurora Yellowknife Mines identified 28 radioactive occurrences on the property, including the 50-CC3-10 and 50-CC3-44 (SMDI 1383), Midas Cu-U Showing (1384) and Townend Fault Uranium Showings (SMDI 1385). The same year Eldorado completed three short diamond drill holes at the Don Lake Zone A showing (SMDI 1393), with hole D-1 returning 2.0% U3O8 over 0.6m from 49.7-50.3m (AF 74N10-0345).
Between 1948-1968, various operators conducted work within the current Don Lake tenure, including prospecting, scintillometer surveying, trenching and limited diamond drilling. Most of this work is poorly documented. The next significant work was by Matrix Exploration in 1969, who carried out prospecting, scintillometer surveying, trenching and the 1200m of diamond drilling in 37 holes at the Don Lake A, B, and C Zones. Trenching in the A Zone returned from trace values up to 8.57% U3O8 over 0.91m and 2.86% U3O8 over 0.61m. The best drill intercept was from Zone A, where hole 23 returned 10.7% U3O8 over 0.3m (AF 74N10-0422).
Between 1971-78 August Hawker, Matrix Exploration and Kodiak Developments carried out prospecting, scintillometer surveys, trenching, and ground geophysics on various areas of the current Don Lake tenure.
Parts of the property were covered by airborne geophysics flown by Greater Lenora Resources Corp in 1997 (EM) and by the Geological Survey of Canada and Saskatchewan Energy and Mines who contracted Sander Geophysics to obtain gamma-ray spectrometric, aeromagnetic and VLF-EM data.
Rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property. The above results were taken directly from the SMDI descriptions and assessment reports (AF) filed with the Saskatchewan government. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person, but form a basis for ongoing work on the subject properties.
About the Beaverlodge Uranium District
See EPL Beaverlodge Uranium Projects map HERE
The Don Lake, Black Bay, Don Lake, Gulch, Larado, and Smitty projects are located in the Beaverlodge District near Uranium City in the Lake Athabasca region of Saskatchewan. Occurrences of uranium mineralization are abundant in the Uranium City area and have been explored and documented since the 1940s. The Beaverlodge camp was the first uranium producer in Canada, with historic production of approximately 70.25 million pounds of U3O8 between 1950-1982, from ore grades averaging 0.23% U3O8. The two largest producers were the Eldorado Beaverlodge (Ace-Fay-Verna) mine and the Gunnar uranium mine. The Beaverlodge area has seen limited uranium focused exploration since the early 1990's.
Eagle Plains' management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties.
Beaverlodge-style uranium deposits host structurally controlled, high grade mineralization in veins and breccia-fills within basement rocks. Mineralization often occurs at geological contacts and consists of structures filled with hematite, chlorite and graphite associated with pitchblende.
Uranium City Option Agreement
Under the terms of the agreements, Xcite may earn an 80% interest in each of the Don Lake, Black Bay, Don Lake, Gulch, Larado, and Smitty projects by completing CDN$3,200,000 in exploration expenditures, issuing 750,000 common shares of Xcite and making cash payments to Eagle Plains of CDN$55,000 over four years, for an aggregate of CDN$19,200,000 in exploration expenditures, 4,500,000 shares and $330,000 in cash to Eagle Plains. Upon Xcite fulfilling the terms of any or all of the earn-in agreements, an 80/20 joint venture will be formed, with Eagle Plains retaining a carried interest in all expenditures until delivery by Xcite or its assigns of a bankable feasibility study. During the option earn in period, XRI will be appointed as operator, and EPL will manage the exploration programs under the direction of a joint technical committee. The projects are owned 100% by EPL, who will retain an underlying 2% NSR royalty on the each of the properties.
Eagle Plains currently holds a 100% interest in 18 individual projects comprising a total of 40,050 ha of mineral dispositions in Saskatchewan covering both basement and unconformity hosted uranium targets. The projects range from early-stage grassroots to drill ready and are distributed throughout the prospective Athabasca Basin including the Patterson Lake South (PLS), Beaverlodge, and Dufferin-Centennial camps.
See EPL Saskatchewan U project map HERE
Qualified Person
Technical information in this News Release has been reviewed and approved by C.C. Downie, P.Geo., a director and officer of Eagle Plains, hereby identified as the "Qualified Person" under N.I. 43-101.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains is a well-funded, prolific project generator that continues to conduct research, acquire and explore mineral projects throughout western Canada, with a focus on critical metals integral to an increasingly electrified, decarbonized economy.
The Company was formed in 1992 and is the ninth-oldest listed issuer on the TSX-V (and one of only three that has not seen a roll-back or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and through numerous spin outs has transferred over $100,000,000 in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold Corp. being notable examples. Eagle Plains latest spinout; Eagle Royalties Ltd. (CSE:"ER") was listed on May 24, 2023, and holds a diverse portfolio of royalty assets throughout western Canada.
Eagle Plains' core business is acquiring grassroots critical- and precious-metal exploration properties. The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team.
Expenditures from 2010-2023 on Eagle Plains-related projects exceed $38M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 50,000m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.
Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.
On behalf of the Board of Directors of Eagle Plains
"C.C. (Chuck) Downie, P.Geo"
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at https://www.eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE: Eagle Plains Resources Ltd.
Denison Reports Financial and Operational Results for Q1 2024
https://www.prnewswire.com/news-releases/denison-reports-financial-and-operational-results-for-q1-2024-302140533.html
Denison Mines Corp. May 08, 2024, 18:25 ET
TORONTO, May 8, 2024 /PRNewswire/ - Denison Mines Corp. ('Denison' or the 'Company') (TSX: DML) (NYSE American: DNN) today filed its Condensed Consolidated Financial Statements and Management's Discussion & Analysis ('MD&A') for the quarter ended March 31, 2024. Both documents will be available on the Company's website at www.denisonmines.com, SEDAR+ (at www.sedarplus.ca) and EDGAR (at www.sec.gov/edgar.shtml). The highlights provided below are derived from these documents and should be read in conjunction with them. All amounts in this release are in Canadian dollars unless otherwise stated. View PDF
David Cates, President and CEO of Denison commented, "This year, Denison commemorates its 70th year of uranium mining, exploration, and development. Denison's long history in uranium mining has been characterized by strategic vision, technological advancement, and an entrepreneurial drive to accomplish things others thought impossible. Modern Denison's defining moment can be traced to a decision, from approximately 15-years ago, to reposition the Company away from a high-cost global expansion platform to focus on the exploration and development of high-grade uranium deposits in the Athabasca Basin region of northern Saskatchewan. This strategy built on Denison's discovery of the Phoenix deposit in 2008 and demonstrated a steadfast conviction that uranium and nuclear energy would be recognized as an essential source of baseload power generation in the long-run – offering an unrivaled combination of emission-free energy and energy security.
Our tireless efforts to advance the Company's strategy, and complete technical evaluations of our flagship Wheeler River project, led to the bold selection of the In-Situ Recovery ('ISR') mining method for the Phoenix deposit in 2018, and have put us in a position where we are nearing a final investment decision to proceed with the construction of potentially one of the lowest-cost uranium mines in the world. In Q1'2024 we made several important steps towards this objective, including the transition from Front-End Engineering Design to detailed design, and the exclusive acquisition of MaxPERF tooling systems, which are expected to support our industry leading deployment of the low-cost ISR mining method in the Athabasca Basin.
Denison's portfolio of uranium reserves, resources, and physical holdings has greatly appreciated in value through late 2023 and into early 2024, as positive sentiment in the uranium and nuclear energy markets has sustained and uranium prices have rapidly increased. As Denison has avoided entering low-priced uranium supply contracts in recent years and has held its physical uranium investment to support future project financing efforts for Phoenix, we are now in an enviable spot with significant uncommitted uranium production and physical holdings potentially available to the market at time of expected scarcity. Taken together with continued geopolitical instability and the expected emergence of significant additional demand from new nuclear builds, it is an ideal time for our Company to be readying to build a low-cost Saskatchewan-based uranium mine.
As we celebrate Denison's legacy of uranium mining in 2024, we look forward to marking this year with several additional notable milestones from our exciting portfolio of Saskatchewan-based uranium mining, exploration, and development projects."
Highlights
Transition to Detailed Design Engineering for Flagship Phoenix ISR Project with Award of $16 Million Contract to Wood
In January 2024, Denison awarded a contract for approximately $16 million to Wood Canada Limited ('Wood'), for the completion of detailed design engineering for the In-Situ Recovery ('ISR') mining project planned for the Phoenix uranium deposit ('Phoenix').
Wood completed a Feasibility Study ('Phoenix FS') in 2023 to evaluate the use of the ISR mining method at Phoenix, the results of which reflected several years of technical de-risking efforts successfully completed by Denison and demonstrated robust economics. Following completion of the Phoenix FS, Denison's Board of Directors approved the continuation of efforts to advance Phoenix towards a final investment decision ('FID') and, in late 2023, the Management Committee of the Wheeler River Joint Venture approved a budget for the applicable 2024 expenditures, including detailed engineering design.
The scope of the facilities to be designed by Wood under the contract is extensive, with work commencing in the first quarter of 2024 and potentially extending into the first half of 2025.
Announcement of Planned Restart of McClean Lake Mining Operations
In January 2024, Orano Canada Inc. ('Orano Canada') and Denison announced the planned restart of uranium mining operations on the McClean Lake property. Mining is expected to be carried out using the joint venture's patented Surface Access Borehole Resource Extraction ('SABRE') mining method and is planned to commence at the McClean North deposit in 2025. Activities in 2024 are intended to be focused on completing the preparations necessary to ready the existing SABRE mining site and equipment for continuous commercial operations, as well as the installation of eight pilot holes for the first mining cavities planned for excavation. The approved budget for this work in 2024 is $7.0 million (100% basis). Approximately 800,000 lbs U3O8 (100% basis) are targeted for production from McClean North in 2025, with approximately 3,000,000 lbs U3O8 (100% basis) identified for potential additional production from a combination of the McClean North and Caribou deposits during the years 2026 to 2030.
Signing of Sustainable Communities Investment Agreement
In March 2024, Denison signed a Sustainable Communities Investment Agreement with the municipalities of the Northern Village of Beauval, the Northern Village of Île-à-la Crosse, the Northern Hamlet of Jans Bay, and the Northern Hamlet of Cole Bay (the 'Communities').
The agreement with the Communities establishes commitments of Denison in support of community development initiatives, with consideration towards contributing to the current and future economic prosperity and sustainability of the Communities by promoting economic development and investments in capital projects, job creation and training, housing, education, and other initiatives.
As part of the agreement, the Communities have provided their consent and support for the Wheeler River project and have committed, amongst other things, to support all regulatory approvals issued for the project related to exploration, evaluation, development, operation, reclamation, and closure activities.
Acquisition of MaxPERF Tool Systems
In February 2024, the Company announced an acquisition of fixed and mobile MaxPERF Tool Systems from Penetrators Canada Inc. ('Penetrators'). The MaxPERF Tool Systems have been successfully deployed several times as a method of permeability enhancement in ISR field studies conducted on the Company's potential ISR mining projects, including at Phoenix. Penetrators has also agreed to work exclusively with Denison for a 10-year period with respect to the use of the MaxPERF Tool Systems for uranium mining applications, and related services, in Saskatchewan.
Sale of Uranium
In April 2024, Denison completed the sale of 100,000 pounds of U3O8 from its physical uranium holdings, at a price of US$100.00 per pound. The sale was agreed in January 2024, and is part of the Company's plans (see Outlook 2024) to sell approximately 300,000 pounds U3O8 from its physical uranium holdings during 2024. Denison acquired its physical uranium position in 2021 at an average cost of US$29.65 per pound U3O8.
Earn-In Agreement with Grounded Lithium Corp.
In January 2024, Denison entered into an agreement with Grounded Lithium Corp. ('Grounded Lithium') to acquire up to a 75% interest in the Kindersley Lithium Project ('KLP') in Saskatchewan. The agreement includes a series of earn-in options, with each earn-in option requiring a cash payment to Grounded Lithium as well as work expenditures to advance the KLP. Should Denison complete all three earn-in options, it will have made cumulative cash payments to Grounded Lithium of $3.2 million and have funded $12.0 million in project expenditures to earn a 75% interest in the KLP. The Company is currently evaluating its 2024 plans and will update its outlook for the year once the plan has been finalized.
About Denison
Denison Mines Corp. was formed under the laws of Ontario and is a reporting issuer in all Canadian provinces and territories. Denison's common shares are listed on the Toronto Stock Exchange (the 'TSX') under the symbol 'DML' and on the NYSE American exchange under the symbol 'DNN'.
Denison is a uranium mining, exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. The Company has an effective 95% interest in its flagship Wheeler River Uranium Project, which is the largest undeveloped uranium project in the infrastructure rich eastern portion of the Athabasca Basin region of northern Saskatchewan. In mid-2023, the Phoenix FS was completed for the Phoenix deposit as an ISR mining operation, and an update to the previously prepared 2018 Pre-Feasibility Study ('PFS') was completed for Wheeler River's Gryphon deposit as a conventional underground mining operation. Based on the respective studies, both deposits have the potential to be competitive with the lowest cost uranium mining operations in the world. Permitting efforts for the planned Phoenix ISR operation commenced in 2019 and have advanced significantly, with licensing in progress and a draft Environmental Impact Study ('EIS') submitted for regulatory and public review in October 2022.
Denison's interests in Saskatchewan also include a 22.5% ownership interest in the McClean Lake Joint Venture ('MLJV'), which includes unmined uranium deposits (planned for extraction via the MLJV's SABRE mining method starting in 2025) and the McClean Lake uranium mill (currently utilizing a portion of its licensed capacity to process the ore from the Cigar Lake mine under a toll milling agreement), plus a 25.17% interest in the Midwest Joint Venture ('MWJV')'s Midwest Main and Midwest A deposits, and a 69.35% interest in the Tthe Heldeth Túé ('THT') and Huskie deposits on the Waterbury Lake Property ('Waterbury'). The Midwest Main, Midwest A, THT and Huskie deposits are located within 20 kilometres of the McClean Lake mill. Taken together, the Company has direct ownership interests in properties covering ~384,000 hectares in the Athabasca Basin region.
Additionally, through its 50% ownership of JCU (Canada) Exploration Company, Limited ('JCU'), Denison holds additional interests in various uranium project joint ventures in Canada, including the Millennium project (JCU, 30.099%), the Kiggavik project (JCU, 33.8118%) and Christie Lake (JCU, 34.4508%).
In 2024, Denison is celebrating its 70th year in uranium mining, exploration, and development, which began in 1954 with Denison's first acquisition of mining claims in the Elliot Lake region of northern Ontario.
Technical Disclosure and Qualified Person
The technical information contained in this press release has been reviewed and approved by Chad Sorba, P.Geo., Denison's Vice President Technical Services & Project Evaluation, and Andy Yackulic, P.Geo., Denison's Vice President Exploration, who are both Qualified Persons in accordance with the requirements of NI 43-101.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
Certain information contained in this press release constitutes 'forward-looking information', within the meaning of the applicable United States and Canadian legislation concerning the business, operations and financial performance and condition of Denison. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes', or the negatives and/or variations of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur', 'be achieved' or 'has the potential to'.
In particular, this press release contains forward-looking information pertaining to the following: projections with respect to exploration, development and expansion plans and objectives, including the scope, objectives and interpretations of FS, PFS and the Wheeler River technical de-risking process for the proposed ISR operation for the Phoenix deposit; expectations with respect to the EA and EIS; expectations regarding the restart of mining operations at McClean Lake; Denison's plans with respect to its physical uranium holdings; expectations regarding the performance of the uranium market and global sentiment regarding nuclear energy; expectations regarding Denison's joint venture ownership interests; and expectations regarding the continuity of its agreements with third parties. Statements relating to 'mineral reserves' or 'mineral resources' are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions that the mineral reserves and mineral resources described can be profitably produced in the future.
Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Denison to be materially different from those expressed or implied by such forward-looking statements. For example, the results and underlying assumptions and interpretations of the FS and PFS may not be maintained after further testing or be representative of actual conditions within the applicable deposits. In addition, Denison may decide or otherwise be required to discontinue testing, evaluation, engineering, and development work if it is unable to maintain or otherwise secure the necessary approvals or resources (such as testing facilities, capital funding, etc.). Denison believes that the expectations reflected in this forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be accurate and results may differ materially from those anticipated in this forward-looking information. For a discussion in respect of risks and other factors that could influence forward-looking events, please refer to the factors discussed in the Company's Annual Information Form dated March 28, 2024 under the heading 'Risk Factors'. These factors are not, and should not be, construed as being exhaustive.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. Any forward-looking information and the assumptions made with respect thereto speaks only as of the date of this press release. Denison does not undertake any obligation to publicly update or revise any forward-looking information after the date of this press release to conform such information to actual results or to changes in Denison's expectations except as otherwise required by applicable legislation.
SOURCE Denison Mines Corp.
Cosa Resources Announces Summer Exploration Plans for Athabasca Basin Uranium Projects
https://www.newsfilecorp.com/release/208453
May 09, 2024 7:30 AM EDT | Source: Cosa Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2024) - Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU) ("Cosa" or the "Company") is pleased to announce its summer exploration plans for its portfolio of Athabasca Basin uranium projects.
Highlights
Diamond drilling at Ursa to follow up positive winter drilling results and test second high priority target area
Ambient Noise Tomography (ANT) surveys to prioritize strike at Ursa and follow-up airborne survey results at Orion
Airborne Electromagnetic (EM) and Gravity surveying at Aurora and Orbit to advance these shallow, prospective projects toward drill readiness for 2025
Keith Bodnarchuk, President & CEO, commented: "After a successful winter drill program, we are eager to return to the field and continue exploration at the 100% owned Ursa Project. Alongside summer drilling at Ursa, including following up on the exciting results at drill hole UR-24-03, we will be advancing multiple other projects to drill readiness for 2025. With the completion of our oversubscribed C$6.5 million bought deal financing earlier this year, we are fully funded to complete this work and well positioned to take advantage of a strengthening uranium market by expanding our pipeline of exciting drill targets across many of our highly underexplored uranium projects."
Andy Carmichael, VP of Exploration, commented: "We are planning a busy summer season in the southeastern Athabasca with exploration plans that respond to the encouraging results of initial drilling at Ursa and reflect the discovery potential we see in our Orion, Aurora, and Orbit projects. Completing ANT before resuming drilling at Ursa will improve prioritization of existing targets and potentially highlight new target areas on trend. ANT work at Orion will follow-up the prominent, kilometre-scale sandstone hosted conductivity anomaly identified in 2023 and guide future exploration efforts. Work at Aurora and Orbit will advance these prospective projects towards drill readiness, which, despite being within 25 kilometres of the Key Lake Mill, have seen little to no modern exploration."
Ursa and Orion Ambient Noise Tomography Surveys
Ambient Noise Tomography (ANT) surveying is planned at Ursa and Orion beginning in May (Figures 1 to 3). Cosa expects ANT to prove a rapid, low-cost, low-impact method to evaluate broad areas for prospective structures and alteration zones. Using data collected from a grid of compact, standalone sensors to measure naturally occurring seismic activity, ANT produces a three-dimensional model of subsurface seismic wave velocity. As the Athabasca sandstone is relatively homogenous and seismic wave velocity varies with changes in the host rock, velocity variations can be attributed to post-Athabasca faulting and/or alteration zones characteristic of the region's high-grade uranium deposits. Although ANT is relatively new to the Athabasca Basin, recent exploration drilling in the region targeting ANT anomalies has successfully intersected zones of hydrothermal alteration at depth.
At Ursa, ANT will be deployed over the 27-kilometres of conductive strike length hosting the alteration and structure intersected by UR24-03 at Kodiak, the Kodiak North, Smokey, and Panda West target areas, and all three weakly mineralized historical drill holes within the Project (Figure 2). Cosa anticipates preliminary ANT results will influence Ursa summer drilling planned to begin in August.
At Orion, ANT will follow up a prominent zone of anomalous sandstone conductivity identified by Cosa's 2023 MobileMT™ survey. The 4-kilometre-long, 1.4-kilometre-wide anomaly is coincident with flexures in basement conductive trends (Figure 3). Cosa will use ANT to locate seismic velocity anomalies coincident with the conductivity features and to optimize the locations of ground EM surveying used to generate targets for diamond drilling.
Aurora and Orbit Airborne Surveys
Cosa will complete comprehensive airborne electromagnetic (EM) and gravity surveys to advance its Aurora and Orbit properties toward drill readiness for 2025 (Figure 4). EM surveying will be completed by Geotech Ltd.'s helicopter borne VTEM™ Plus system with the objective of identifying basement-hosted conductivity anomalies consistent with prospective graphitic structures and/or large zones of hydrothermal alteration. Gravity surveying will be completed by Xcalibur Multiphysics's Falcon® Airborne Gravity Gradiometer system (AGG) with the objective of identifying gravity anomalies consistent with large zones of hydrothermal alteration and to improve the understanding of basement geology. Top priority drill targets would be gravity low anomalies coincident with basement-hosted conductive features. Airborne surveys commenced in early May.
Ursa Diamond Drilling
Planning is ongoing for summer diamond drilling at Ursa. Drilling is expected to include following-up the broad zone of hydrothermal alteration and post Athabasca structure intersected well above the unconformity by drill hole UR24-03 (Figure 5; see Cosa news release dated April 24, 2024) as well as initial drill testing of a second target area. It is anticipated that ANT survey results will be used to influence drill strategy and targeting.
Figure 1 – Cosa's Portfolio of Athabasca Basin Region Uranium Exploration Properties
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9865/208453_abfdd89d1407f905_003full.jpg
Figure 2 – Ursa ANT Survey Areas over 2023 MobileMT™ Results
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9865/208453_abfdd89d1407f905_004full.jpg
Figure 3 – Orion ANT Survey Area at over 2023 MobileMT™ Results
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https://images.newsfilecorp.com/files/9865/208453_abfdd89d1407f905_005full.jpg
Figure 4 – Aurora and Orbit Airborne Survey Areas
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https://images.newsfilecorp.com/files/9865/208453_abfdd89d1407f905_006full.jpg
Figure 5 – Cross Section of the Kodiak Target Area (Looking Northeast)
To view an enhanced version of this graphic, please visit:
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About Cosa Resources Corp.
Cosa Resources is a Canadian uranium exploration company operating in northern Saskatchewan. The portfolio comprises roughly 209,000 ha across multiple projects in the Athabasca Basin region, all of which are underexplored, and the majority reside within or adjacent to established uranium corridors.
Cosa's award-winning management team has a long track record of success in Saskatchewan. In 2022, members of the Cosa team were awarded the AME Colin Spence Award for their previous involvement in discovering IsoEnergy's Hurricane deposit. Prior to Hurricane, Cosa personnel led teams or had integral roles in the discovery of Denison Mines' Gryphon deposit and 92 Energy's Gemini Zone and held key roles in the founding of both NexGen and IsoEnergy.
Cosa's primary focus through 2024 is initial drilling at our Ursa Project, which captures over 60-kilometres of strike length of the Cable Bay Shear Zone, a regional structural corridor with known mineralization and limited historical drilling. It potentially represents the last remaining eastern Athabasca corridor to not yet yield a major discovery. Modern geophysics completed by Cosa in 2023 identified multiple high-priority target areas characterized by conductive basement stratigraphy beneath or adjacent to broad zones of inferred sandstone alteration – a setting that is typical of most eastern Athabasca uranium deposits. Initial drilling results from Ursa in winter 2024 are positive and include the intersection of a broad zone of alteration with associated structure in the Athabasca sandstone located 250 to 460 metres above the sub-Athabasca unconformity. Follow-up is planned in the second half of 2024.
Qualified Person
The Company's disclosure of technical or scientific information in this press release has been reviewed and approved by Andy Carmichael, P.Geo., Vice President, Exploration for Cosa. Mr. Carmichael is a Qualified Person as defined under the terms of National Instrument 43-101.
Contact
Keith Bodnarchuk, President and CEO
info@cosaresources.ca
+1 888-899-2672 (COSA)
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Forward-looking statements in this news release include, among others, statements relating to: the exploration, development, and production at the Company's mineral projects.
Forward-looking statements and forward-looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of the Company, future growth potential for the Company and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of uranium and other commodities; no escalation in the severity of public health crises; costs of exploration and development; the estimated costs of development of exploration projects; the Company's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect the Company's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company's dependence on one mineral project; precious metals price volatility; risks associated with the conduct of the Company's mining activities; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; the ongoing military conflict around the world; general economic factors; and the factors identified under the caption "Risk Factors" in the Company's management discussion and analysis and other public disclosure documents.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.
SOURCE: Cosa Resources Corp.
Bayridge Resources Engages Geotech for VTEM Survey at Waterbury East Project
https://www.newsfilecorp.com/release/208466
May 09, 2024 6:00 AM EDT | Source: Bayridge Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2024) - Bayridge Resources Corp. (CSE: BYRG) ("Bayridge" or the "Company") is pleased to announce the engagement of Geotech Ltd., to undertake a helicopter supported VTEM survey on its 1,337 ha Waterbury East uranium project in Canada's Athabasca Basin.
"Bayridge is getting a quick start on exploration of its key Athabasca Basin assets with the imminent VTEM survey at Waterbury East," commented President & CEO Saf Dhillon. "The Company anticipates the results of the Geotech survey will further delineate the prospective ENE trending corridor in preparation for a fully funded 2024 Q2 drill program," he continued.
The Waterbury East project is underlain by geology favourable to hosting both unconformity-hosted and basement-hosted uranium deposits. These deposits are typically associated with graphitic metasediments and structural zones that exhibit strong EM conductor responses. Historical airborne EM surveys have defined an ENE-striking conductor across the property, with a depth to unconformity of ~200m. Most of the uranium discoveries in the Athabasca Basin are concentrated along the unconformity edge, where the sedimentary cover is the thinnest (<300m).
In 2006, CanAlaska reported encouraging results from an initial drill program, with an intersection of 17.0 m of anomalous basement-hosted uranium mineralization, containing a highlight value of 324 ppm U over 0.6 m in a structurally controlled zone. Interpreted geophysical magnetic lineaments suggest additional structures occur in the basement. *Readers are cautioned that Bayridge has not verified these historical results.
The 2024 VTEM survey on Waterbury East is designed to better delineate the historically-defined ENE-trending conductor across the property in higher spatial resolution. The results from the VTEM survey will assist in defining exploration targets for 2024 Q2 drilling. The Company anticipates the survey to commence mid to late May.
Bayridge holds an option to earn up to an 80% interest in Waterbury East through a series of cash payments, share issuances and exploration expenditures over the next 4 years. Waterbury East is located 25 km northeast of the Cigar Lake Mine, 15 km south of Points North and is accessible from the Cigar Lake winter road.
R. Tim Henneberry, P.Geo. (BC) and a consultant to the Company, is the Qualified Person under National Instrument 43-101 who has reviewed and approved the technical content of this release.
About Bayridge Resources Corp.
Bayridge Resources Corp. is a green energy company advancing its portfolio of Canadian uranium and lithium projects. The 1,337 ha Waterbury East project is located 25 km northeast of the Cigar Lake Mine in the northeastern Athabasca Basin region. Geophysical surveys have identified a 7km long conductivity corridor where mid-2000's drilling highlighted faulted and altered basement rock with local uranium enrichment. Large sections of this corridor remain untested. The 11,142 ha Constellation project is located 60 km south of the present-day Athabasca Basin edge in an area of significant exploration activity for basement hosted uranium. Historic airborne radiometric, electromagnetic, and magnetic surveys identified electromagnetic conductors associated with magnetic lows. The 4,413 ha Sharp Lake project, located in the Red Lake Mining District of Northern Ontario, hosts peraluminous S-type muscovite bearing pegmatite bearing granites in contact with metasediments. Preliminary sampling has highlighted anomalous rare-element values, potentially indicative of lithium mineralization.
For more information, please contact:
Saf Dhillon, President & Chief Executive Officer
E-mail: saf@bayridgeresources.com
Tel: 604-484-3031
Forward-looking information
Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding Geotech's engagement, the scope and timing of Geotech's services and the Company's exploration plans. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.
The CSE has not reviewed, approved, or disapproved the contents of this press release.
SOURCE: Bayridge Resources Corp.
Basin Uranium Announces Maiden Mineral Resource Estimate at Its Chord Uranium Project
https://www.newsfilecorp.com/release/208529
May 09, 2024 3:05 AM EDT | Source: Basin Uranium
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2024) - BASIN URANIUM CORP. (CSE: NCLR) (CNSX: NCLR.CN)
Western Uranium & Vanadium Provides Shareholder Updates
https://ca.finance.yahoo.com/news/western-uranium-vanadium-provides-shareholder-130000521.html
Western Uranium & Vanadium Corp.
Tue, May 7, 2024 at 6:00 a.m. PDT·5 min read
WSTRF
+6.17%
Toronto, Ontario and Nucla, Colorado, May 07, 2024 (GLOBE NEWSWIRE) -- Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (“Western” or the ”Company”) is pleased to offer the following update on uranium markets and Company operations.
Prohibiting Russian Uranium Imports Act (H.R. 1042)
In response to Russia’s war in Ukraine, the United States legislature passed the Prohibiting Russian Uranium Imports Act (H.R. 1042). We expect the President to sign this legislation into law shortly as the Biden administration has previously considered using an executive order to limit Russian uranium imports. The ban will go into effect 90 days after its enactment and will be phased in under Department of Energy conditional waivers before becoming a complete ban on January 1, 2028. Importantly, the enactment of a Russian ban releases funding to support the American nuclear supply chain.
Uranium/Vanadium Buying Program
Energy Fuels has announced that it expects to offer an ore buying program. A uranium milling run is scheduled to begin in late 2024 or 2025 at their White Mesa Mill, the only operational conventional uranium/vanadium mill in the United States. Western and Energy Fuels have had initial discussions regarding the delivery of mined material from the Sunday Mine Complex. If a mutually beneficial arrangement can be established, Western could pivot its current mining operations to begin deliveries of uranium/vanadium mined material in as little as 30 days at annualized quantities up to 250,000 pounds of uranium and 1,000,000 pounds of vanadium.
Joint Venture with Rimrock Exploration and Development Inc.
Western has entered into a joint venture with Rimrock Exploration and Development Inc. (“Rimrock”), a private company which owns two fully permitted, developed, and past producing uranium mines in Colorado. Western will fund mining operations and initially Rimrock will be the operator. Upon the payment of the full initial contribution, each party will own a 50% interest in the underlying mines and mining claims. Western has already funded more than half of the initial contribution. These mines access shallow uranium deposits where mined material is available at depths of 60 and 120 feet. The joint venture will sell the mined material to Western under terms to be determined. The mines do not have a technical report but are anticipated to provide marginal production to supplement Western’s Sunday Mine Complex production.
Mining Operations and Processing Plant
Western continues to ramp up operations to achieve its annualized production target of 1 million pounds of uranium and 6 million pounds of vanadium. Participation in the aforementioned buying program should not hinder the development of an adequate uranium feedstock supply for the Maverick Minerals Processing Plant. Precision Systems Engineering (PSE) is targeting to release the preliminary engineering design and cost estimate in June.
At the beginning of 2024 Western expanded the Sunday Mine Complex mining operations by deploying two alternating mining crews and two alternating drilling teams who operate seven days a week. Following the expansion of infrastructure deeper into the West Sunday Mine, the mining teams commenced driving a drift approximately 2,700 feet to the Leonard & Clark deposit. So far, the teams have drifted approximately 317 feet and are now deploying a jumbo drill to increase progress. The drilling teams continue to define additional mining areas utilizing underground horizontal drilling. Between January 25th and March 31st, the team has drilled a total of 8,170 linear feet with 43 long hole drill targets at three separate areas of the GMG deposit.
About Western Uranium & Vanadium Corp.
Western Uranium & Vanadium Corp. is ramping-up high-grade uranium and vanadium production at its Sunday Mine Complex. In addition to the flagship property located in the prolific Uravan Mineral Belt, the production pipeline also includes conventional projects in Colorado and Utah. The Maverick Minerals Processing Plant is being licensed in Utah and will include the kinetic separation process.
Cautionary Note Regarding Forward-Looking Information: Certain information contained in this news release constitutes “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking statements”). Statements of that nature include statements relating to, or that are dependent upon: the Company’s expectations, estimates and projections regarding the Offering and exploration and production plans and results; the timing of planned activities; whether the Company can raise any additional funds required to implement its plans; whether regulatory or analogous requirements can be satisfied to permit planned activities; and more generally to the Company’s business, and the economic and political environment applicable to its operations, assets and plans. All such forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond the Company’s ability to control or predict. Please refer to the Company’s most recent Management’s Discussion and Analysis, as well as its other filings at www.sec.gov and/or www.sedarplus.com, for a more detailed review of those risk factors. Readers are cautioned not to place undue reliance on the Company’s forward-looking statements, and that these statements are made as of the date hereof. While the Company may do so, it does not undertake any obligation to update these forward-looking statements at any particular time, except as and to the extent required under applicable laws and regulations.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
George Glasier
President and CEO
970-864-2125
gglasier@western-uranium.com
Robert Klein
Chief Financial Officer
908-872-7686
rklein@western-uranium.com
Canadian Securities Exchange Welcomes Listing of Global Uranium
https://www.newsfilecorp.com/release/208259
May 07, 2024 1:06 PM EDT | Source: Canadian Securities Exchange (CSE)
Toronto, Ontario--(Newsfile Corp. - May 7, 2024) - The Canadian Securities Exchange ("CSE" or "the Exchange") today welcomed the listing of Global Uranium Corp. The common shares of the Vancouver, BC-based company began trading today under the symbol: GURN.
Global Uranium, a junior exploration company, is currently focused on the Wing Lake Property located in the Mudjatik Domain of northern Saskatchewan, an area known for uranium and base metal deposits. The Company also targets other mineral exploration opportunities in North America and may acquire interests in additional mineral projects of sufficient geological or economic merit.
"Demand for nuclear capacity as a source of clean energy is increasing worldwide," said James Black, the CSE's Vice President, Listings Development. "The addition of Global Uranium to the CSE marks another success in the Exchange's mandate to support companies in emerging businesses."
"Listing on the CSE is a significant step towards establishing Global Uranium Corp. as a leader in uranium exploration and development," said John Kim, CEO of Global Uranium. "Continuing geopolitical uncertainty has accelerated the importance of developing new reliable resources. We are excited to leverage our CSE listing to grow and advance our assets to address the critical demand for a domestically sourced uranium."
About the Canadian Securities Exchange:
The Canadian Securities Exchange is a rapidly growing exchange invested in working with entrepreneurs, innovators and disruptors to access public capital markets in Canada. The Exchange's efficient operating model, advanced technology and competitive fee structure help its listed issuers of all sectors and sizes minimize their cost of capital and enhance global liquidity.
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The CSE offers global investors access to an innovative collection of growing and mature companies.
STAY CONNECTED WITH THE CSE
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Contact:
Richard Carleton, CEO
416-367-7360
richard.carleton@thecse.com
SOURCE: Canadian Securities Exchange (CSE)
MegaWatt Metals Provides Corporate Update, Including Advancing Clean-Energy Focus Through Agreement to Acquire Uranium Property
https://ca.finance.yahoo.com/news/megawatt-metals-provides-corporate-including-110000343.html
MegaWatt Lithium and Battery Metals Corp.
Wed, May 8, 2024 at 4:00 a.m. PDT·6 min read
WALRF
0.00%
? Acquired Canada-based uranium property
? Closed non-brokered private placement
Vancouver, British Columbia, May 08, 2024 (GLOBE NEWSWIRE) -- MegaWatt Lithium and Battery Metals Corp. (CSE:MEGA) (FSE: WR20) (OTCQB: WALRF) (the "Company", "MegaWatt Metals" or “MegaWatt”) is pleased to provide a corporate update regarding the Company’s recent developments and upcoming milestones.
MegaWatt’s CEO, Casey Forward, commented: “We successfully completed a private placement capital raise a month ago. And on April 1 we announced a major milestone toward advancing our clean-energy focus through our agreement to acquire Labrador Mineral Resources Inc. and their Canada-based Benedict Mountains Uranium Property. While we already hold a project in Australia that is prospective for uranium mineralization, the Benedict Mountains Uranium Property represents a new level of opportunity for MegaWatt to benefit from multiple long-term drivers supporting the uranium sector: Canada is 1 of the top 3 uranium producing nations; uranium prices are strongly trending upward and are up 30% over last year’s average; the US and 20 other countries plan to triple their nuclear power capacity by 2050 [1]; and market analysts are forecasting an average uranium supply deficit of 35 million pounds per year over the next decades [2]. With all the renewed market interest in uranium and its clean energy applications, the MegaWatt team is excited about the year ahead and the new milestones we expect to reach as we continue to advance our portfolio of mineral assets and build shareholder value.”
Acquisition of Labrador Mineral Resources Inc. and its Uranium Property
As announced in the Company’s news release of May 7, 2024, titled “MegaWatt Completes the Acquisition of Labrador Mineral Resources Inc.,” and further to its news release of April 1, 2024, the Company completed the acquisition (the “Transaction”) of all of the issued and outstanding shares in the capital of Labrador Mineral Resources Inc. (“Labrador”).
Labrador holds a 100% interest (subject to a 1.5% NSR) in the Benedict Mountains Uranium Property, consisting of 2 mineral licenses covering an area of approximately 350 hectares in the Central Mineral Belt on the east coast of Labrador, Canada, approximately 200 km NE of Goose Bay.
Closing of Private Placement
As announced in the Company’s news releases of March 8, 2024, titled “MegaWatt Announces Closing of Non-Brokered LIFE Offering and First Tranche of Concurrent Private Placement of Shares,” and of March 15, 2024, titled “MegaWatt Metals Announces Closing of Final Tranche of Concurrent Private Placement of Shares and Engagement of Outside The Box Capital for Marketing Services,” MegaWatt Metals closed its concurrent non-brokered private placement of common shares in the capital of the Company by the issuance of 4,290,000 shares (first tranche) and 1,300,000 shares (second tranche) at $0.10 per share for combined gross proceeds of $559,000.
The Company will use the net proceeds for property payments, property exploration and for general working capital.
Encouraging Ongoing Battery Metals Exploration Developments
As announced in the Company’s news release of April 4, 2023, titled “MegaWatt Metals Identifies Numerous Anomalous Lithium Zones at Mistumis,” the Company’s latest exploration results from its large Mistumis project (12,116 hectares; 121 sq km) in the prolific James Bay Region, Quebec, included 1,918 soil geochemistry samples that were analyzed for lithium and for correlations with lithium pathfinder elements (i.e., more-easily-found elements that occur in close association with the lithium being sought).
The 2022-2023 program explored the potential for lithium mineralization under cover and near surface by building a soil geochemical data base in conjunction with an airborne geophysical program within the project boundaries. The program identified strong lithium pathfinder correlation and numerous general and broad anomalous lithium zones.
Qualified Person
Mr. Geoffrey Reed (MAusMM (CP)) (MAIG), Consultant for the Company, is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure or Mineral Projects and has reviewed and approved the scientific and technical information in this press release.
For Additional Information
Investors can learn more about the Company, our team and latest news at https://megawattmetals.com.
About MegaWatt Lithium and Battery Metals Corp.
MegaWatt is a British Columbia based company involved in the acquisition and exploration of mineral properties.
MegaWatt has acquired a 100% interest in a company that holds a 100% interest (subject to a 1.5% NSR) in the Benedict Mountains Uranium Property, consisting of 2 mineral licenses covering an area of approximately 350 hectares in the Central Mineral Belt on the east coast of Labrador, Canada, approximately 200 km NE of Goose Bay (see press release dated April 1, 2024).
MegaWatt holds a 100% undivided interest (subject to a 1.5% NSR) on all base, rare earth elements and precious metals, in the Cobalt Hill Property, consisting of 8 mineral claims covering an area of approximately 1,727.43 hectares located in the Trail Creek Mining Division in the Province of British Columbia, Canada.
Additionally, the Company has acquired a 100% interest in a company that indirectly holds a 100% interest (subject to a 2% NSR) in the Tyr Silver Project (see press release dated October 15, 2020).
MegaWatt holds a 100% interest (subject to a 2% NSR) in and to the Route 381 Lithium Property, comprised of 40 mineral claims located in James Bay Territory, north of Matagami in the Province of Quebec, covering 2,126 hectares (see press release dated February 3, 2021), and a 100% interest in 229 additional mineral exploration claims prospective for lithium, also in the James Bay area of Quebec covering an area of 12,116 hectares or 121 square kms.
On Behalf of the Board of Directors,
MegaWatt Lithium and Battery Metals Corp.
Casey Forward, CEO
1055 West Georgia Street, Suite 1500
Vancouver, BC, Canada
V7X 1M5
For Further Information Please Contact:
Kelvin Lee, Chief Financial Officer
kelvin @qtips - greasy ear spammer
Sources:
1. https://tradingeconomics.com/commodity/uranium
2. https://resourceworld.com/bullish-outlook-on-uranium-sector/
The CSE does not accept responsibility for the adequacy or accuracy of this release.
The securities issued in connection with the Transaction have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.
This press release includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These forward-looking statements or information may relate to the Company’s business plans, the exploration plans of the Company and the timing thereof, the potential mineralization of the Company’s properties, the performance of uranium as a commodity, the future of uranium production and supply, the use of proceeds from the Company’s recent private placement, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
Atomic Minerals Looks to Advance Uranium Exploration with Historical Gamma Ray Logs at Dolores Anticline, Colorado
https://www.newsfilecorp.com/release/208195
May 07, 2024 7:30 AM EDT | Source: Atomic Minerals Corp.
Vancouver, British Columbia--(Newsfile Corp. - May 7, 2024) - Atomic Minerals Corporation (TSXV: ATOM) ("ATOMIC MINERALS" or the "Company") ( is pleased to announce the results of a detailed analysis of stratigraphic and gamma ray logs from the historical oil well log data at the Dolores Anticline Project ("Dolores Anticline") in SW Colorado.
This initiative underlines the Company's commitment to integrating advanced geophysical techniques to refine its exploration strategies and enhance the geological understanding of its central uranium prospects.
"Utilizing historical gamma ray logs for a refined geological analysis at the Dolores Anticline enables us to pinpoint geological formations and evaluate their uranium potential with precision," remarked Clive H. Massey, President & CEO of Atomic Minerals. "This advanced technology bolsters our efforts in uranium exploration and optimizes our strategy for assessing our broad portfolio. We are particularly grateful for the support from the communities in Monticello and San Juan County, which is crucial as we advance our projects."
Gamma Ray Logs in Geophysical Evaluation
Atomic Minerals analyzed the stratigraphic logs or stratigraphic estimates in conjunction with the gamma ray logs from historic oil and gas holes drilled throughout the Dolores Anticline to zero in on the favorable Moss Back member of the Chinle formation. The Moss Back hosts the bulk of the Triassic uranium mineralization within the salt anticlines throughout the Paradox Basin within the Colorado Plateau, America's premier uranium mining district. The Chinle formation has produced 120 million pounds of U3O8 to date.1
A total of 93 Colorado oil and gas hole locations were found in the database and were analyzed: 21 holes were permitted but never drilled, 31 holes either did not have a gamma log or were cased through the Chinle, 1 was collared below the base of the Chinle and 1 was lost before intersecting the Chinle. Of the remaining 39 holes, 19 recorded anomalous gamma ray values associated with the suspected base of the Chinle formation, a success rate of almost 50%.
A review of the plan map of the western arcuate belt of the Lisbon Valley Anticline, the type location for the Chinle uranium deposits, shows the uranium occurred in distinct deposits along the 17 km long belt, some clustered and others widespread, most notedly with barren gaps within the deposit clusters.2
Uranium Projects in SE Utah / SW Colorado- A Rich Mining Heritage
Southeastern Utah / Southwesten Colorado hosts a number of prominent uranium districts for both Morrison and/or Chinle uranium deposits, with the majority of the Chinle deposits intimately associated with the salt anticlines. With a long history of uranium exploration, development and production and fully permitted uranium mill, this area of the Colorado Plateau is poised to take advantage of the current uranium boom and the recently announced tarrif on Russian uranium imports.
Community and Operational Insights in Moab and Monticello
Exploration activities at the SW US Projects are feasible throughout the year, albeit with some interruptions due to potential seasonal muddy conditions during the rainy season. The town of Moab, situated near the 10 Mile project and the town of Monticello near the Harts Point and Dolores Projects, provide a comprehensive array of essential services and infrastructure, from healthcare and education to retail and lodging. This supportive community backdrop ensures a steady supply of skilled labor and sufficient resources, such as power and water, to sustain continuous mining operations.
Dolores Anticline
As a result of the Dolores database thorough analysis, the Company is now laying out drill hole locations, guided by the oil and gas drilling, to allow commencement of the permitting process for summer drilling.
The Dolores claim group (SC claims) lies in San Miguel County, Colorado, on the northern end of the Dolores anticline and proximal to the southern end of the Uravan mineral belt. The Uravan (a contraction of uranium-vanadium) mineral belt produced 75.5 million pounds of uranium oxide and 331.8 million pounds of vanadium from the Salt Wash member of the Jurassic Morrison formation during the years between 1947 and 1979, from more than 1,200 mines.3 While these mining claims are located on the southern end of the Uravan, they were located in an area considered to be very favourable for the concentration of uranium mineralization in the Moss Back member of the Triassic-age Chinle formation and the Permian Cutler formation, as well as the Salt Wash member of the Morrison formation. Atomic Minerals' geological consultants have confirmed the presence of uranium mineralization in several prospects in the Dolores River Canyon, where the favourable Moss Back member has been exposed and appears to have a wide extent, which guided the location of the SC claim block.
In the late 1970s, widely spaced exploration drilling for uranium by the Hunt Oil Company and Newmont Mining Company confirmed the presence of the highly favourable Moss Back member of the Chinle formation on this anticlinal structure. Gamma ray logs of a number of these holes reported spikes within the Moss Back.
Sources
Hall,S.M.; Van Gosen,B.S. and Zielinski,R.R. (2023). Sandstone-hosted uranium deposits of the Colorado Plateau, USA. Ore Geology Reviews 155. 39p.
DahlKamp,F.J. (2010) Uranium Deposits of the World - USA and Latin America. Springer-Verlag Berlin Heidelberg. 499p.
Chenoweth, W.L. (1981). The Uranium-Vanadium Deposits of the Uravan Mineral Belt and Adjacent Areas, Colorado and Utah. New Mexico Geological Society Guidebook, 32nd Field Conference. pp. 165-170.
The data disclosed in this news release are related to historical exploration and drilling results. Atomic Minerals has not undertaken any independent investigation of the sampling, nor has it independently analyzed the results of the historical exploration work in order to verify the results. Atomic Minerals considers these historical exploration and drill results relevant as the Company is using these data as a guide to plan exploration programs. The Company's current and future exploration work includes verification of the historical data through sampling and drilling.
Qualified Person
Mr. R. Tim Henneberry, P.Geo. (BC), an advisor to the Company, is the "Qualified Person" under National Instrument 43-101 responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.
About the Company
Atomic Minerals Corp. is a publicly listed exploration company on the TSX Venture Exchange, trading under the symbol ATOM, led by a highly skilled management and technical team with a proven track record in the junior mining sector. Atomic Minerals' objective is to identify exploration opportunities in regions that have been previously overlooked but are geologically similar to those with previous uranium discoveries. These underexplored areas hold immense potential and are in stable geopolitical and economic environments.
Atomic Minerals' property portfolio contains uranium projects in three locations within North America, all of which have significant technical merit and or are known for hosting uranium production in the past. Three of the properties are located on the Colorado Plateau, an area which has previously produced 597 million pounds of U3O8; Three others are in the prolific Athabasca Basin region and nine uranium projects are located Northern Saskatchewan, encompassing a total exploration area of 6,495 hectares.
For additional information about the Company and its projects, please visit our website at www.atomicminerals.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
"Clive Massey"
Clive H. Massey
President & CEO
For further information, please contact:
info@atomicminerals.ca
Neither TSX Venture Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements:
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Atomic Minerals Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Atomic Minerals Corporation management on the date the statements are made. Except as required by law, Atomic Minerals Corporation undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE: Atomic Minerals Corp.
Stallion Uranium Intersects Significant Conductive Structure
https://ca.finance.yahoo.com/news/stallion-uranium-intersects-significant-conductive-100000877.html
Stallion Uranium Corp.
Tue, May 7, 2024 at 3:00 a.m. PDT·8 min read
STLNF
-7.05%
VANCOUVER, British Columbia, May 07, 2024 (GLOBE NEWSWIRE) -- Stallion Uranium Corp. (the "Company" or "Stallion") (TSX-V: STUD; OTCQB: STLNF; FSE: HM40)
Hertz Energy Submits Applications to Acquire Uranium Focused Claims in Namibia
https://www.newsfilecorp.com/release/207966
May 03, 2024 3:15 PM EDT | Source: Hertz Energy Inc.
Vancouver, British Columbia--(Newsfile Corp. - May 3, 2024) - Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QE2) (the "Company") is pleased to announce that is has submitted applications for uranium Exclusive Prospecting Licenses (EPLs) in Namibia.
Namibia is a country of diverse geology and has one of the richest uranium mineral reserves in the world. There are currently two large operating mines, the Husab and Rossing mines, in the Erongo Region and five major exploration projects planned to advance to production in the next few years as the country embraces the green energy transition. Uranium mining in Namibia is of considerable importance to the national economy1. In 2023, Namibia produced the 3rd largest quantity of uranium worldwide at 6,382 tonnes, ranked only behind Kazakhstan and Australia2.
Namibia is a premier operational uranium jurisdiction with a 45-year history of safe uranium production and exportation3. It possesses excellent utilities, transportation, and exportation infrastructure as well as established support for uranium mining from both the Namibian Government and local communities. Namibia enjoys a combination of political stability, security, a strong rule of law and an assertive development agenda. In 2023, mining contributed approximately 12% of Namibia's GDP and employs approximately 16,000 people4.
Hertz Energy Namibia Uranium Project
The application areas cover an area of 9,627.84 hectares located in Central Namibia in the Erongo Region which hosts numerous primary and secondary uranium deposits. Primary economic uranium is hosted mainly in sheeted D-type alaskites which occur both as cross-cutting dykes and as bedding and/or foliation-parallel sills. The sheets can amalgamate to form larger granite plutons or granite stockworks made up of closely spaced dykes and sills. The mineralized alaskites tend to occur at marked stratigraphic levels, often associated with the Khan-Rössing Formation boundary, or, where the Rössing Formation is missing, the Khan-Chuos/Arandis Formation boundary. Secondary uranium deposits occur in calcretes in the coastal plain of the Namib Desert. The deposits are associated with ancient river systems that flowed westward from the Great Escarpment during the upper Cretaceous and lower Cenozoic periods. Uranium mineralization is typically located in calcretised fluvial channels which tend to be buried with little or no obvious surface expression to identify them.
Figure 1: Licence applications in the Erongo Uranium Province of Namibia.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9656/207966_6a780ed514756a46_003full.jpg
Licence Application EPL-10185
EPL-10185 is located 22 km east of the coastal town of Swakopmund. Its geology is comprised of units from the Kuiseb, Karibib, Arandis, Chuos and Khan Formations intruded by granodiorites and uranium prospective granites. Most of the western and central parts of the licence is under recent surficial cover made up of sand, gravel, scree, and calcrete. Preliminary interpretation of regional airborne radiometric data from the Namibian Ministry of Mines and Energy indicates radiometric anomalies coinciding with favourable geology for primary alaskite-hosted uranium mineralization. This is the similar style of mineralization found at Bannerman Energy's Etango deposit located 15 km southeast of EPL-10185 as well as that at the Rossing Mine located 30km to the northeast. The Rossing Mine is one of the largest and longest operating uranium open cast mines in the world producing now for 46 years. In 2022, Rossing produced 2,659t U3O8 and currently has a feasibility study underway to extend the mine life beyond 20265.
Figure 2: The geology and the airborne radiometric anomaly targets (red) of EPL-10185.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9656/207966_6a780ed514756a46_005full.jpg
Licence Application EPL-10186
EPL-10186 is located 40 km northeast of the coastal town of Swakopmund. Most of the licence is covered by recent sand, gravel, scree and calcrete, with a few outcrops of mica schist, calc-silicate rock, marble and red granite. There are two prominent sub-surface water conduits/streams which in general, are believed to be geographically similar to where paleo-channels carrying uranium-rich waters would have flowed. Preliminary interpretation of regional airborne radiometric data from the Namibian Ministry of Mines and Energy indicates a strong and consistent radiometric anomaly trending northeast-southwest and coincident with the subsurface streams. The Company is targeting secondary uranium mineralization with potential for primary mineralization to the east of the application area. This is the similar style of mineralization found at ORANO's Trekkopje Mine 6 kilometres north of EPL-10186 and Elevate Uranium's Marenica deposit 40km to the north with a resource of 46Mlb U308 at a 93ppm U3O8 cutoff grade.
Figure 3: The geology (A) and the airborne radiometric targets over EPL-10186.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9656/207966_6a780ed514756a46_007full.jpg
The applications were filed by Odikwa Geoservices, led by Mary Barton, a Professional Natural Scientist (SACNASP) and a Qualified Person for the purposes of National Instrument 43-101 (NI 43-101). In conjunction with filing the prospecting licenses, Odikwa Geoservices conducted a geological desktop review to locate prospective ground within the region of Erongo for the purposes of the licensing application. Odikwa Geoservices is a respected local geology company, providing high quality geology, exploration, mineral resource, mining and revenue management solutions to the Namibian mining industry.
"We are devoted to increasing our footprint in the green energy metals markets and are excited to enter Namibia this year. Namibia has a long history of uranium exploration and production," stated Kal Malhi, CEO & Director of Hertz Energy. "Mary Barton and her team at Odikwa Geoservices have been instrumental in setting up our operations in the country. We are fortunate to have access to an expert local Geological Consultant Company and look forward to developing and executing our exploration initiatives in the coming months once we receive government approvals."
The EPL applications have been acquired for the cost of the applications submissions and no other payments of stock issuances are payables on the EPL acquisitions.
Qualified Person
Mary Barton Pr.Sci.Nat., MGSSA - MSc. Geology, is the Qualified Person for the Hertz Energy Namibia Uranium Project as defined by National Instrument 43-101 and has approved the technical disclosure contained in this news release.
About the Company
The Company is a British Columbia based junior exploration company primarily engaged in the acquisition and exploration of energy metals mineral properties. The Company's lithium exploration projects include the Lucky Mica Lithium Project, the AC/DC Lithium Project, and the Patriota Lithium Project. The Lucky Mica Project is 939 hectares located within the Arizona Pegmatite Belt in the Maricopa County of Arizona, USA. The AC/DC Project is 26,500 hectares located in the renowned James Bay Lithium District in Quebec, Canada, just 26kms southeast of the Covette Lithium Project owned by Patriot Battery Metals and is contiguous to Rio Tinto's Kaanaayaa project claims. The Patriota Lithium Project is 2,963 hectares located within the Eastern Brazilian Pegmatite Province in Minas Gerais, Brazil and hosts similar geology as Sigma's "Green Lithium Mine". The Company's uranium projects include the Cominco Uranium Project located in Bathurst Inlet, Nunavut, Canada and its recent applications for Exclusive Prospecting Licenses in Namibia.
For further information, please contact Mr. Kal Malhi or view the Company's filings at www.sedarplus.ca.
On Behalf of the Board of Directors
Kal Malhi
Chief Executive Officer and Director
Phone: 604-805-4602
Email: kal@bullruncapital.ca
https://en.wikipedia.org/wiki/Uranium_mining_in_Namibia#:~:text=Namibia%20has%20one%20of%20the,in%20the%20next%20few%20years.&text=Uranium%20mining%20in%20Namibia%20is%20of%20considerable%20importance%20to%20the%20national%20economy.
https://wisevoter.com/country-rankings/uranium-production-by-country/
https://www.africanmining.co.za/2021/10/01/namibia-presents-golden-opportunities/
https://economist.com.na/82061/columns/mining-industry-has-potential-to-drive-namibias-economic-fortunes/
https://www.namibianuranium.org/wp-content/uploads/2023/06/NUA-2022_03.pdf
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding "Forward-Looking" Information
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE: Hertz Energy Inc.
Eagle Plains Completes Initial Compilation on Theory Copper-Gold Project in the Toodoggone District
https://www.accesswire.com/859438/eagle-plains-completes-initial-compilation-on-theory-copper-gold-project-in-the-toodoggone-district
Monday, 06 May 2024 07:00 AM
CRANBROOK, BC / ACCESSWIRE / May 6, 2024 / Eagle Plains Resources Ltd. (TSXV:EPL) or ("Eagle Plains") has completed an initial data compilation on its recently consolidated 9156 ha Theory Copper-Gold project, located in the Toodoggone Mining District of British Columbia. The project is considered to be highly prospective for both epithermal gold and copper-gold porphyry deposits. The property is owned 100% by Eagle Plains, with 122 hectares of the property subject to an underlying 0.5% Net Smelter Royalty held by a third party.
Project Highlights
Large contiguous land position
Located in highly prospective Toodoggone Copper & Gold Mining District
Multiple occurrences of low-sulphidation quartz-carbonate gold-silver veins
Presence of argillic and propylitic hydrothermal alteration
Favourable geological setting including a significant extent of the "Red-Line" unconformity
Last significant exploration was 1988 with no modern geophysics or drilling
See Theory Project Map here
The 9156 ha Theory Property is located in northern BC within the Toodoggone Mining District. The district is endowed with both epithermal gold and porphyry copper-gold deposits, most notably the past producing Kemess Mine owned by Centerra Gold. The Omineca Resource Road provides access to the region from Mackenzie, BC. Recent road upgrades completed in 2023 by Thesis Gold on their Lawyers-Ranch Project brought road access to within 8 kms of the Theory property.
Geology in the Theory region is primarily comprised of lower Jurassic Hazelton Group volcanics which unconformably overlie late Triassic Takla Group volcanics. The entire package of rocks is intruded by late Triassic and early Jurassic stocks. The majority of the Theory property encompasses the highly prospective Jurassic-Triassic unconformity (~200 Ma), termed by the BC Geologic Survey as the ‘Red-Line', which is known to have a high spatial correlation to many of the known deposits throughout the Golden Triangle and Toodoggone.
Although exploration within the property boundaries by previous operators has been intermittent since the mid-60's and regional government surveys are limited, encouraging mineralization and alteration commonly associated with both epithermal and porphyry systems has been documented.
Exploration success in the area has been highlighted by the recent announcement by Thesis Gold at their Lawyers-Ranch Project of a combined Measured and Indicated Mineral Resource of 4.0 Moz and an Inferred Mineral Resource of 727 Koz at respective grades of 1.51 and 1.82 g/t AuEq. (Thesis Gold, May 1, 2024 News Release)
FRED 4 Showing
Discovered by Sumac Mines in 1973, the Fred 4 showing consists of sulphide bearing quartz-carbonate veins, accompanied by argillic alteration of the host andesitic Takla volcanics, which yielded assays from trace amounts up to 0.33 oz/ton (10.26 g/t) Au and 1.44 oz/ton (44.79 g/t) Ag over narrow widths. The veins and adjacent propylitic alteration have a total width of 1.2m.
FRED 1 Showing
Discovered in 1987 by Prolific Resources Ltd., the FRED 1 showing is a 5m wide and 20m long quartz carbonate vein system. Grab samples from the zone returned gold results ranging from trace amounts up to 6.80 g/t Au, 4.34 g/t Au, and 3.7 g/t Au, as well as silver results up to 1101 g/t Ag & 1480 g/t Ag. Propylitic alteration is noted in many of the structural zones and copper mineralization, including chalcopyrite, bornite and malachite, is commonly noted in sample descriptions.
In late 2023 Eagle Plains acquired the property through staking and third-party agreements. The company is highly encouraged by initial data compilation and believes the project area is prospective for both epithermal gold and copper-gold porphyry deposit types. Detailed compilation and interpretation of available data from historical work programs is ongoing and will lead to recommendations for future work.
The Theory project is available for option and Eagle Plains is actively seeking partners.
Rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property. The above results were taken directly from MINFILE descriptions and assessment reports filed with the BC government. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person but form a basis for ongoing work on the subject properties. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties.
Qualified Person
Technical information in this News Release has been reviewed and approved by C.C. Downie, P.Geo., a director and officer of Eagle Plains, hereby identified as the "Qualified Person" under N.I. 43-101.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains is a well-funded, prolific project generator that continues to conduct research, acquire and explore mineral projects throughout western Canada, with a focus on critical metals integral to an increasingly electrified, decarbonized economy.
The Company was formed in 1992 and is the ninth-oldest listed issuer on the TSX-V (and one of only three that has not seen a roll-back or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and through numerous spin outs has transferred over $100,000,000 in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold Corp. being notable examples. Eagle Plains latest spinout; Eagle Royalties Ltd. (CSE:"ER") was listed on May 24, 2023, and holds a diverse portfolio of royalty assets throughout western Canada.
Eagle Plains' core business is acquiring grassroots critical- and precious-metal exploration properties. The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team.
Expenditures from 2010-2023 on Eagle Plains-related projects exceed $38M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 50,000m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.
Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.
On behalf of the Board of Directors of Eagle Plains
"C.C. (Chuck) Downie, P.Geo"
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at https://www.eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE: Eagle Plains Resources Ltd.
Energy Fuels Announces Q1-2024 Results, Including Continued Net Income, Continued Successful Uranium Ramp-Up, Commissioning Rare Earth Oxides Production, and Steps to Secure World-Scale Sources of Heavy Mineral Sands and Monazite
https://www.prnewswire.com/news-releases/energy-fuels-announces-q1-2024-results-including-continued-net-income-continued-successful-uranium-ramp-up-commissioning-rare-earth-oxides-production-and-steps-to-secure-world-scale-sources-of-heavy-mineral-sands-and-monazite-302135969.html
Energy Fuels Inc. May 03, 2024, 16:43 ET
Conference Call and Webcast on May 6, 2024
LAKEWOOD, Colo., May 3, 2024 /PRNewswire/ - Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR)
Eagle Plains and Xcite Provide Update on Beaver River Uranium Project
https://www.accesswire.com/858743/eagle-plains-and-xcite-provide-update-on-beaver-river-uranium-project
Thursday, 02 May 2024 07:00 AM
CRANBROOK, BC / ACCESSWIRE / May 2, 2024 / Eagle Plains Resources Ltd. (TSXV:EPL) or ("Eagle Plains") and Xcite Resources Inc. (TSXV:XRI) ("XRI or Xcite"), have received the results from a data compilation on the Beaver River uranium project, located 40km SE of Uranium City, Saskatchewan. The Beaver River project hosts near surface high grade uranium mineralization and is one of six Eagle Plains uranium properties under option to Xcite (see EPL/XRI news release Dec 14, 2023). The compilation and interpretation of available data will lead to recommendations for 2024 fieldwork.
Beaver River Data Compilation Highlights
Historical assays up to 29.89% U3O8 in trench chip samples
Historical drill intersections include 0.18% U3O8 over 0.3m and 0.06% U3O8 over 0.61m
Recognized mineralized trend >1km in length
Prospective for polymetallic Beaverlodge-type uranium mineralization in E-W and NW-SE trending fault zones
See Beaver River Compilation Map here
About the Beaver River Project
The 1455ha project overlies 5 Saskatchewan Mineral Deposit Index ("SMDI") occurrences associated with Beaverlodge-type uranium mineralization.
The polymetallic VIC U-Cu-Ni zone (SMDI 1551, 1553, and 1994) occurs along a NW-SE trending fault zone which has been traced for approximately 1 km. Mineralization occurs in fracture filling of quartz veins hosting sulphides, graphite, and pitchblende and uraninite, ore minerals of uranium. Historical assays of channel samples in this zone yield up to 29.89% U3O8 over 0.3m, 18.09% U3O8 over 0.2m and 3.09% U3O8 over 0.6m (AF 74O05-0077). The southeast zone has been tested by nine shallow drill holes, averaging 80m in length, returning assays of 0.18% U3O8 over 0.3m (AF74O05-0016) and 0.06% U3O8 over 0.61m along with anomalous copper, nickel, gold and silver (AF74O05-0051). The northwest portion of the VIC zone, identified as a priority for follow-up by Denison Mines, has yet to be tested by drilling.
Another significant mineral occurrence on the Beaver River property is the Combined Mining Uranium
Showing(SMDI 1557) where northeast-trending pitchblende-bearing fractures have ben mapped over a strike length of 137.2m. Assays from trenches yielded 0.23% U3O8 over 0.5m and 1.77% U3O8 over 0.9m.
Since uranium mineralization on the Beaver River property was first noted in 1958 the property has seen a total of 1708m of diamond drilling in 26 shallow holes, with the last drilling completed in 1969 by Trans-Canada Resources. Other historical work includes prospecting, mapping, scintillometer surveys, trenching at the main showing areas, and airborne and ground-based geophysics.
An electromagnetic and magnetic VTEM survey flown by Geotech for Fission 3.0 in 2016 covered the eastern part of the Beaver River property. The survey outlined numerous areas of enhanced conductivity including areas of parallel conductors with offsets and termination points indicative of cross structure, including a high priority conductive trend located west of the Combined SMDI occurrence. Follow-up prospecting and geochemical sampling was recommended to evaluate the source of the anomalies.
The last recorded assessment work on the project was by Fission 3.0 who successfully located and resampled historic trenches at the VIC occurrence.
Management of Eagle Plains and Xcite are encouraged by the tenor of mineralization displayed in trenches and shallow historical drilling at Beaver River and the potential for additional uranium mineralization both along strike and to depth within known mineralized areas, along trends identified by historical geophysical surveys, and on any additional targets generated by 2024 work.
Rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property. The above results were taken directly from the SMDI descriptions and assessment reports) filed with the Saskatchewan government. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person, but form a basis for ongoing work on the subject properties. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties.
About the Beaverlodge Uranium District
See Uranium City Area Projects Map here
The Beaver River, Black Bay, Don Lake, Gulch, Larado, and Smitty projects are located in the Beaverlodge District near Uranium City in the Lake Athabasca region of Saskatchewan. Occurrences of uranium mineralization are abundant in the Uranium City area and have been explored and documented since the 1940s. The Beaverlodge camp was the first uranium producer in Canada, with historic production of approximately 70.25 million pounds of U3O8 between 1950-1982, from ore grades averaging 0.23% U3O8. The two largest producers were the Eldorado Beaverlodge (Ace-Fay-Verna) mine and the Gunnar uranium mine. The Beaverlodge area has seen limited uranium focused exploration since the early 1990's.
Eagle Plains' management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties.
Beaverlodge-style uranium deposits host structurally controlled, high grade mineralization in veins and breccia-fills within basement rocks. Mineralization often occurs at geological contacts and consists of structures filled with hematite, chlorite and graphite associated with pitchblende.
Uranium City Option Agreement
Under the terms of the agreements, Xcite may earn an 80% interest in each of the Beaver River, Black Bay, Don Lake, Gulch, Larado, and Smitty projects by completing CDN$3,200,000 in exploration expenditures, issuing 750,000 common shares of Xcite and making cash payments to Eagle Plains of CDN$55,000 over four years, for an aggregate of CDN$19,200,000 in exploration expenditures, 4,500,000 shares and $330,000 in cash to Eagle Plains. Upon Xcite fulfilling the terms of any or all of the earn-in agreements, an 80/20 joint venture will be formed, with Eagle Plains retaining a carried interest in all expenditures until delivery by Xcite or its assigns of a bankable feasibility study. During the option earn in period, XRI will be appointed as operator, and EPL will manage the exploration programs under the direction of a joint technical committee. The projects are owned 100% by EPL, who will retain an underlying 2% NSR royalty on the each of the properties.
Eagle Plains currently holds a 100% interest in 18 individual projects comprising a total of 40,050 ha of mineral dispositions in Saskatchewan covering both basement and unconformity hosted uranium targets. The projects range from early-stage grassroots to drill ready and are distributed throughout the prospective Athabasca Basin including the Patterson Lake South (PLS), Beaverlodge, and Dufferin-Centennial camps.
See Saskatchewan Uranium Projects Map here
Qualified Person
Technical information in this News Release has been reviewed and approved by C.C. Downie, P.Geo., a director and officer of Eagle Plains, hereby identified as the "Qualified Person" under N.I. 43-101.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains is a well-funded, prolific project generator that continues to conduct research, acquire and explore mineral projects throughout western Canada, with a focus on critical metals integral to an increasingly electrified, decarbonized economy.
The Company was formed in 1992 and is the ninth-oldest listed issuer on the TSX-V (and one of only three that has not seen a roll-back or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and through numerous spin outs has transferred over $100,000,000 in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold Corp. being notable examples. Eagle Plains latest spinout; Eagle Royalties Ltd. (CSE:"ER") was listed on May 24, 2023, and holds a diverse portfolio of royalty assets throughout western Canada.
Eagle Plains' core business is acquiring grassroots critical- and precious-metal exploration properties. The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team.
Expenditures from 2010-2023 on Eagle Plains-related projects exceed $38M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 50,000m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.
Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.
On behalf of the Board of Directors of Eagle Plains
"C.C. (Chuck) Downie, P.Geo"
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at https://www.eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE: Eagle Plains Resources Ltd.
Bayridge Engages TerraLogic for 2024 Exploration Program at Athabasca Basin Properties
https://www.newsfilecorp.com/release/207349
April 30, 2024 6:00 AM EDT | Source: Bayridge Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 30, 2024) - Bayridge Resources Corp. (CSE: BYRG) ("Bayridge" or the "Company"), an emerging uranium and lithium exploration company, is pleased to announce the Company has engaged TerraLogic Exploration Inc. ("TerraLogic"), of Cranbrook, BC, to facilitate the 2024 exploration and development work programs on the Company's Waterbury East and Constellation uranium projects in Saskatchewan's prolific Athabasca Basin.
The 1,337 ha Waterbury East project is located 25 km northeast of the Cigar Lake Mine in the northeastern Athabasca Basin region. Geophysical surveys have identified a 7km long conductivity corridor where mid-2000s drilling highlighted faulted and altered basement rock with local uranium enrichment. Large sections of this corridor remain untested.
The 11,142 ha Constellation project is located 60 km south of the present-day Athabasca Basin edge in an area of significant exploration activity for basement hosted uranium. Historic airborne radiometric, electromagnetic, and magnetic surveys identified electromagnetic conductors associated with magnetic lows.
"We are excited to partner with TerraLogic for our upcoming 2024 work programs at Waterbury East and Constellation," commented Bayridge CEO Saf Dhillon. "TerraLogic has already submitted our drilling permit for Waterbury East and is currently soliciting bids for upcoming VTEM surveys at both projects," he continued. "TerraLogic has proven technical expertise and a long track record of First Nations engagement, critical to exploration in the Athabasca Basin," he concluded.
R. Tim Henneberry, P.Geo. (BC) and a consultant to the Company, is the Qualified Person under National Instrument 43-101 who has reviewed and approved the technical content of this release.
About TerraLogic Exploration Inc.
TerraLogic Exploration Inc. is a dynamic and innovative company that provides a full spectrum of mineral exploration consulting services to the mineral exploration industry ranging from permitting through to surveying / prospecting, drilling and resource modelling. TerraLogic has been operating mineral exploration projects in North America since 2004. Since then, TerraLogic has successfully managed hundreds of exploration programs including numerous uranium focused projects in the Athabasca Basin.
About Bayridge Resources Corp.
Bayridge Resources Corp. is a mining exploration company that currently operates the Sharpe Lake property, a lithium exploration project in Ontario. The Company also has an interest in two uranium exploration projects located in the Athabasca Basin in Saskatchewan, which were optioned from Canalaska Uranium Corp.
For more information, please contact:
Saf Dhillon, Director, Chief Executive Officer and President
E-mail: saf@bayridgeresources.com
Tel: 604-484-3031
Forward-looking information
All statements included in this press release that address activities, events or developments that Bayridge expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements may involve, but are not limited to, statements with respect to: the Company's exploration plans for 2024 and the Company's engagement of TerraLogic. These forward-looking statements involve numerous assumptions made by Bayridge based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond Bayridge's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, Bayridge does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
The CSE has not reviewed, approved, or disapproved the contents of this press release.
SOURCE: Bayridge Resources Corp.
Basin Uranium Announces Permitting for Drill Program at Chord
https://www.newsfilecorp.com/release/207315
April 30, 2024 3:02 AM EDT | Source: Basin Uranium
Vancouver, British Columbia--(Newsfile Corp. - April 30, 2024) - BASIN URANIUM CORP. (CSE: NCLR) (CNSX: NCLR.CN) ("Basin Uranium" or the "Company") is pleased to provide an update on permitting for the Company's flagship Chord uranium project in South Dakota. A permit application was submitted in March, which would allow for the drilling of up to 50 holes totaling up to 35,000 feet. The drill program will focus on delineating the southern extension of known mineralization from the October Jinx mineralized body within the recently-acquired 640 acre state section (Section 36-7S-2E) which was announced on November 22, 2023 (news release). The Company and its consultants are in active dialogue with the South Dakota Department of Agriculture and Natural Resources, stakeholders and partners.
"We designed the upcoming drill program and corresponding permit application to focus on the delineation of potentially ore grade mineralization, of the October Jinx mineralized zone to the south, where modelling by our consultants demonstrate the constraint due to the historical property boundary," commented Mike Blady, CEO of Basin Uranium. "The resource modelling exercise, which we anticipate the results of in the coming weeks, has highlighted the potential for significant expansion of potentially ISR-amendable uranium mineralization."
About Basin Uranium Corp.
Basin Uranium is a Canadian junior exploration company focused on mineral exploration and development in the green energy sector. The company has three advanced-stage uranium projects located in the United States, namely the Chord project in South Dakota, the South Pass project in Wyoming, and the Wray Mesa project in Utah. All three projects have seen extensive historical exploration and are located in prospective development areas. The Company also has the Mann Lake uranium project, located in the world-class Athabasca basin of Northern Saskatchewan, Canada, in addition to the CHG gold project in south-central British Columbia.
For further information, please contact Mr. Mike Blady or view the Company's filings at www.sedarplus.ca.
On Behalf of the Board of Directors
Mike Blady
Chief Executive Officer
info@basinuranium.ca
604-722-9842
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.
FORWARD-LOOKING STATEMENTS:
Cautionary Note Regarding Forward-Looking Statements: This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary include, without limitation, uncertainties affecting the expected use of proceeds. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
SOURCE: Basin Uranium
Atomic Minerals Announces Advancement on the Colorado Plateau Projects in the Southwest US
https://www.newsfilecorp.com/release/207323
April 30, 2024 7:30 AM EDT | Source: Atomic Minerals Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 30, 2024) - Atomic Minerals Corporation (TSXV: ATOM) ("ATOMIC MINERALS" or the "Company") is delighted to announce significant progress on its strategic claim blocks located on the Colorado Plateau in the US Southwest, specifically at ("Harts Point"), (the "10 Mile Anticline"), and (the "Dolores Anticline"). This update highlights the Company's ongoing commitment to advancing its exploration efforts in these highly prospective salt anticlines.
"We are thrilled to update shareholders on our exploration plans and proud of the significant progress we've made on our claim blocks on the Colorado Plateau, including Harts Point, 10 Mile, and Dolores Anticline," stated Clive Massey, President, and CEO of Atomic Minerals. "Our comprehensive review and analysis of historic uranium mining and oil and gas drilling data have been instrumental in refining our exploration strategy. The historical drill data, particularly from the Chinle Formation basal sandstones, underscores the robust potential for uranium mineralization across these properties. With this promising foundation, we are advancing our drilling plans as we initiate the permitting process. Our focus now turns to utilizing our technical expertise, forged through decades of geological insights, to qualify and quantify the uranium mineralization at Dolores, 10 Mile and Harts Point."
Harts Point
Atomic Minerals, alongside Joint Venture Partner Kraken Energy Corp., successfully completed a maiden two-hole drill program at the Harts Point Uranium Property in Utah, as detailed in the (March 26, 2024) news release. Kraken's technical team reported the drilling proved the existence of the basal Moss Back member sandstone of the Triassic Chinle formation with gamma ray logs recording elevated gamma ray counts over a 12.9 metre downhole length in one hole and over a 16.2 metre down hole length in the other, recording a maximum reading of was 2,162 counts per second. Results are pending, and the Company anticipates obtaining permits soon for further exploration at Harts Point.
Dolores Anticline
Atomic Minerals has completed a thorough review of the Colorado Oil and Gas drill hole database, compiling the holes drilled along the flanks of the Dolores Anticline. The Company is now laying out drill hole locations, guided by the oil and gas drilling to allow commencement of the permitting process for summer drilling.
The Dolores claim group (SC claims) lies in San Miguel County, Colorado on the northern end of the Dolores Anticline and proximal to the southern end of the Uravan Mineral Belt ("Uravan"). The Uravan (a contraction of Uranium-Vanadium) Mineral Belt produced 75.5 million pounds of uranium oxide and 331.8 million pounds of vanadium from the Salt Wash Member of the Jurassic Morrison Formation during the years between 1947 and 1979 from more than 1,200 mines.* While these mining claims are located on the southern end of the Uravan, they were located in an area considered to be very favorable for the concentration of uranium mineralization in the Moss Back Member of the Triassic Age Chinle Formation and the Permian Cutler Formation as well as the Salt Wash Member of the Morrison Formation. Atomic Minerals' geological consultants have confirmed the presence of uranium mineralization in several prospects in the Dolores River Canyon, where the favorable Moss Back Member has been exposed and appears to have a wide extent, which guided the location of the SC claim block.
*Source Chenoweth, W.L. (1981). The Uranium-Vanadium Deposits of the Uravan Mineral Belt and Adjacent Areas, Colorado and Utah. New Mexico Geological Society Guidebook, 32nd Field Conference. pp. 165-170.
In the late 1970s, widely spaced exploration drilling for uranium by the Hunt Oil Company and Newmont Mining Company confirmed the presence of the highly favorable Moss Back Member of the Chinle Formation on this anticlinal structure. Gamma ray logs of a number of these holes reported spikes within the Moss Back.
10 Mile Anticline
Atomic Minerals has completed a thorough review of the Utah Oil and Gas drill hole database, compiling the holes drilled along the flanks of the 10 Mile Anticline. The Company is now laying out drill hole locations, guided by the historic oil and gas drilling to allow commencement of the permitting process for summer drilling.
The 10 Mile property consists of four separate claim blocks totaling 10,400 acres, lying 25 miles northwest of Moab, in Grand County, Utah. The claim blocks cover the eastern and western flanks and southern nose of the Ten Mile Anticline. Several of the historic oil and gas holes throughout the area recorded gamma ray spikes at the base of the Chinle formation, which the Company believes are indicative of uranium mineralization. This oil and gas drilling indicates the depth to Moss Back is 1,400 feet on the southwestern flank and 2,390 to 2,500 on the northeast flank. Further supporting the uranium potential of the 10 Mile property is the 7 Mile district, located 8 miles to the southeast. Seven Mile is located on the northwestern flank of northern nose of the Moab Anticline and produced over 1,700,000 pounds of U3O8 and 890,000 pounds of vanadium from thicknesses ranging from 1 foot and 8 feet at an average grade of 0.26% U3O8 from the basal Moss Back Member of the Chinle Formation.
Source: Seven Mile Canyon Mining District, Grand County, Utah, USA. https://www.mindat.org/loc-203792.html. This description referenced Droullard, R.F., and Jones, E.E. (1955) Geology of the Seven Mile Canyon uranium deposits. U.S. Atomic Energy Commission Rare Metals Evaluation RME-4066, 14 pages.
The data disclosed in this news release are related to historical exploration and drilling results. Atomic Minerals has not undertaken any independent investigation of the sampling, nor has it independently analyzed the results of the historical exploration work in order to verify the results. Atomic Minerals considers these historical exploration and drill results relevant as the Company is using these data as a guide to plan exploration programs. The Company's current and future exploration work includes verification of the historical data through sampling and drilling.
Qualified Person
Mr. R. Tim Henneberry, P.Geo. (BC), an advisor to the Company, is the "Qualified Person" under National Instrument 43-101 responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.
About the Company
Atomic Minerals Corp. is a publicly listed exploration company on the TSX Venture Exchange, trading under the symbol ATOM, led by a highly skilled management and technical team with a proven track record in the junior mining sector. Atomic Minerals' objective is to identify exploration opportunities in regions that have been previously overlooked but are geologically similar to those with previous uranium discoveries. These underexplored areas hold immense potential and are in stable geopolitical and economic environments.
Atomic Minerals' property portfolio contains uranium projects in three locations within North America, all of which have significant technical merit and or are known for hosting uranium production in the past. Three of the properties are located on the Colorado Plateau, an area which has previously produced 597 million pounds of U3O8; Three others are in the prolific Athabasca Basin region and nine uranium projects are located Northern Saskatchewan, encompassing a total exploration area of 6,495 hectares.
For additional information about the Company and its projects, please visit our website at www.atomicminerals.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
"Clive Massey"
Clive H. Massey
President & CEO
For further information, please contact:
Mitchell Adam
(778) 960-0869
Neither TSX Venture Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements:
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Atomic Minerals Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Atomic Minerals Corporation management on the date the statements are made. Except as required by law, Atomic Minerals Corporation undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
###
SOURCE: Atomic Minerals Corp.
C2C Metals Stakes Uranium Claims in the Prolific Uravan District, Utah
https://www.newswire.ca/news-releases/c2c-metals-stakes-uranium-claims-in-the-prolific-uravan-district-utah-827179680.html
C2C Metals Corp. Apr 30, 2024, 07:00 ET
CSE: CTOC
www.c2cmetals.com
VANCOUVER, BC, April 30, 2024 /CNW/ - C2C Metals Corp. (CSE: CTOC) (the "Company" or "C2C") today reports the acquisition, through staking, of the Sun Uranium Project located in easternmost Utah between the prolific Uravan, Lisbon Valley and La Sal Uranium Districts. The Sun Uranium Project was identified through research of proprietary mineral databases. The Company also advises that Jason Bagg, Chief Executive Officer, will present on Tuesday April 30th, 2024 at the Uranium, Battery and Precious Metals Investor Conference | Virtual Investor Conferences.
Significant highlights include:
The Sun Uranium Property consists of 120 claims, covering almost 4 square miles, located approximately 40 miles southeast of Moab, Utah;
1950's exploration at the Sun Uranium Project included 23 drill holes by New Jersey Zinc with good grade uranium and vanadium mineralization from the Salt Wash sandstone, the host of most uranium production from the La Sal and Uravan Districts;
Historical shallow drilling was conducted adjacent to mineralized outcrops that extend below surface. Planned exploration will focus upon uranium exploration in the Salt Wash sandstone, along trend, from the successful previous drilling;
The combined Uravan District of western Colorado, the Lisbon Valley and La Sal Districts of eastern Utah, produced more than 150+ million pounds of uranium plus hundreds of millions of pounds of vanadium;
Utah is an Agreement State, which provides state-controlled permitting as devolved from the Nuclear Regulatory Commission resulting in expected shorter permitting timelines.
To view maps of the Sun Uranium Project, please visit: https://bit.ly/3UiVuxQ.
The Sun Uranium Project
The uranium-vanadium mineralization at the Sun Uranium Project is hosted in the Salt Wash Sandstone as originally discovered in outcrops along the erosional edge of a mesa. These Salt Wash deposits differ from both the roll-type uranium deposits of Wyoming and the tabular-type deposits of New Mexico because of the universal association of vanadium with the uranium.
A small part of the area covered by the Sun Uranium Project has seen historical drilling and sampling, as recorded in a written report by the New Jersey Zinc Company1, together with other historical supporting information. Historic drilling in 1954, of 23 holes less than 100 feet in depth, from a very small area near the outcrop included 10 "definite ore" grade uranium intercepts ranging from 0.15% U3O8 to 1.50% U3O8. An early non-compliant historical resource estimate made using data from the 23 drill holes was 32,100 lbs. U3O8, at an average grade of 0.20% U3O8.*
1 Westcoat, George J., Consultant, 1954, "Memorandum report on 104 Sinder and Sunset mineral claims, Grease Wood Canyon District, San Juan County, Utah".
Other historical exploration included a 243 lb. open cut bulk sample that assayed 0.44% U3O8 and 1.08% V2O5. A 2.5 ft long channel sample was collected from a short adit near the open cut and provided average weighted chemical values of 0.62 % U3O8 and 1.25% V2O5, as assayed by Climax Uranium Company, a major historical uranium producer.
George Westcoat, a consultant to New Jersey Zinc, reported: "Mineral outcrops were observed at several places along the rims of the Morrison Formation." The consultant further recommended: "From the small amount of exploration done thus far, that a much more extensive exploration program be instituted." His recommendations included further drilling to a depth of at least 200 ft.
In addition to historic drilling and sampling, seven radiometric anomalies were later identified within the area of the Sun Uranium Project in an airborne radiometric survey flown by the U.S. Atomic Energy Agency.
*A Qualified Person (as defined in NI 43-101) has not done sufficient work to verify the historical drilling data. Additional work, including drilling and logging will be required to confirm and update the historical drilling and logging data, including a review of data integrity, assumptions, parameters, methods, and testing. Historical exploration data do not meet reporting requirements as prescribed under NI 43-101. C2C is not treating the historical data as current and it should not be relied upon.
The technical content concerning the Property in this news release was reviewed and approved by Dr. Douglas H. Underhill, CPG, Chief Geologist for C2C Metals Corp., a Qualified Person as defined by National Instrument 43-101.
A bout C2C Metals Corp.
C2C Metals is a mineral exploration company which holds a portfolio of uranium, gold and copper projects in the United States and Canada. C2C Metals is focused on acquiring conventional uranium assets in the United States while maintaining a portfolio of advanced gold and copper assets in Canada.
www.c2cmetals.com
@C2CMetalsCorp
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties and can be identified by the use of forward-looking terminology such as "expected", "will be", "anticipated", "may" or variations of such words and phrases or statements that certain actions, events or results "will" occur. All statements within, other than statements of historical fact, are to be considered forward looking. Forward-looking statements in this news release include but are not limited to: the completion of the name change. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
SOURCE C2C Metals Corp.
For further information: Jason Bagg, Chief Executive Officer, (833) 888-2862, info@c2cmetals.com
ALX Resources Announces Hydra Lithium Project Exploration Update
https://www.newsfilecorp.com/release/207360
April 30, 2024 7:30 AM EDT | Source: ALX Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 30, 2024) - ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce that planning is underway for 2024 summer exploration at the Hydra Lithium Project ("Hydra") located in the Eeyou Istchee-James Bay region of Quebec, Canada. Hydra is the subject of a joint venture between ALX and Forrestania Resources Limited of West Perth, Australia ("Forrestania", ASX: FRS) formed to explore for lithium-cesium-tantalum ("LCT") bearing pegmatites, with ALX as operator.
2024 Hydra Exploration Plans
ALX plans to commence the 2024 prospecting and geological mapping program (the "Program") on or about June 1, 2024, with a helicopter and a 4-person geological crew supplied by Dahrouge Geological Consulting of Montreal, Quebec. The Program is designed to locate pegmatite bodies in the field as follow-up to ALX's 2023 exploration activities at Hydra, which included:
Helicopter-assisted surface prospecting and geological mapping at seven of the eight properties comprising Hydra;
An Airborne Light Detection And Ranging ("LiDAR") and orthophoto survey at the Volta property covering approximately 47.5 square kilometres to aid in the identification of outcrops that may represent pegmatite bodies;
Remote sensing analysis performed on the Volta, Nike, Echo and Sprite properties utilizing synthetic aperture radar ("SAR") data, multispectral Sentinel satellite data and Advanced Spaceborne Thermal Emission and Reflection (or, "ASTER") data in order to interpret geological structures and to recognize subtle lithium anomalies in outcrop.
Figure 1: ALX - Forrestania lithium properties in the James Bay Region, April 2024
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3046/207360_bc8564fb1468a8c8_001full.jpg
In late 2023, ALX employed modern remote sensing techniques using multispectral imaging and SAR data to analyze vegetation, structure, alteration, and ground movement at the Volta, Nike, Sprite and Echo properties. This multivariate approach, combining existing geological, geochemical, and geophysical data with multiple satellite analyses, allows complex anomalies covering large areas to be quickly and effectively identified, thus recognizing new targets. Figure 2 depicts the first-priority targets at Echo generated by this process.
Figure 2: 2024 Exploration Target Areas at the Echo Property
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3046/207360_bc8564fb1468a8c8_002full.jpg
2023 Exploration Statistics and Results
A total of 106 rock samples were collected by ALX in three phases during 2023, work that was suspended by forest fires and by pauses in exploration to respect the hunting seasons of the local communities of the Cree Nation. All geochemical analytical results are described in parts per million ("ppm").
2023 Pegmatite sample from Python West - 273 ppm Lithium/ 575 ppm Cesium/ 865 ppm Rubidium
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3046/207360_bc8564fb1468a8c8_003full.jpg
Python West: 30 samples collected. Sample #F435054 taken from a pegmatite boulder returned 278 ppm Lithium, 575 ppm Cesium and 865 ppm Rubidium. Positive geochemical ratios were calculated and are interpreted as pathfinders for LCT pegmatites: K/Rb (17.1), K/Cs (26) and Nb/Ta (2.1);
Python East: 15 samples collected. Sample #F435156 taken from a pegmatite boulder returned 387 ppm Lithium, 24.5 ppm Cesium and 326 ppm Rubidium;
Sprite: 27 samples collected. Two samples collected from granitic and paragneiss outcrops samples returned Lithium and Rubidium values over 100 ppm;
Volta: 21 samples collected. Biotite crystals were described in one outcrop sample that also showed orange luminescence under ultraviolet light that may suggest a fertile environment for LCT pegmatites. Follow-up in 2024 is planned.
Echo: 1 sample collected. Prospecting in 2023 was impeded by fires, weather conditions and schedule constraints. Follow-up on first-priority targets detected by remote sensing is planned for 2024.
Cobra: 10 samples collected. Follow-up on second-priority targets is planned for 2024.
Nike: 2 samples were collected. Follow-up on second-priority targets is planned for 2024.
Viper: No samples were collected. Airborne reconnaissance was carried out. Follow-up on second priority targets is planned for 2024.
About Hydra
Hydra consists of eight sub-projects totaling 29,262 hectares (ha.) (72,306 acres) known as Volta (4,751 ha.), Echo (5,566 ha.), Nike (2,462 ha.), Sprite (3,437 ha.), Cobra (4,249 ha.), Viper (1,280 ha.), Python East (3,218 ha.) and Python West (4,298 ha.), located within a fertile lithium exploration district that hosts the James Bay, Rose, Whabouchi and Corvette lithium deposits, and numerous other lithium showings.
The eight Hydra properties were originally selected for staking based upon the presence of historical lithium, cesium and tantalum lake sediment anomalies and by a review of public-domain geological mapping and archived assessment reports. The application of remote sensing and artificial intelligence studies for pegmatite detection has assisted in prioritizing targets for surface prospecting.
To view maps and more information on Hydra, visit our website at: https://alxresources.com/hydra-lithium/
National Instrument 43-101 Disclosure
Samples collected in the 2023 exploration program were shipped to AGAT Laboratories ("AGAT") for geochemical analysis. AGAT dried, crushed and pulverized the rock samples to create a pulp whereby at least 85% of the material passed a 75 micron screen. The pulp was fused with sodium peroxide and sodium hydroxide to produce a cake that was then dissolved and diluted to 100 ml with 30% hydrochloric acid to create an aliquot. The aliquot was then analyzed for a 58-element suite of trace and rare earth elements utilizing inductively coupled optical emission spectroscopy ("ICP-OES") with an inductively coupled mass spectroscopy ("ICP-MS") finish. A subset of the rock samples were submitted for whole rock oxide and loss on ignition ("LOI") analyses (14 oxides plus LOI). The whole rock oxides analyses were completed utilizing wave dispersive X-ray fluorescence (or "XRF") spectroscopy on a glass disc created by a lithium borate fusion method. Another subset of samples were submitted for gold and other trace elements analyses (53 elements). A 0.5 gram sample was digested with a hot mixture of hydrochloric and nitric acids, and a residue from this digestion underwent Aqua Regia digestion and dilution for analyses by ICP-OES with an ICP-MS finish. AGAT routinely inserts certified reference materials, and conducts sample replicates and duplicate analyses, as part of their quality assurance program.
The technical information in this news release has been reviewed and approved by Robert Campbell, P.Geo., a consultant to ALX, who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Readers are cautioned that mineral deposits or occurrences on adjacent or nearby properties are not indicative of mineral deposits or occurrences on the Company's properties.
About ALX
ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL", on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF".
ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties in Canada, which include uranium, lithium, nickel-copper-cobalt and gold projects. The Company uses the latest exploration technologies and holds interests in over 240,000 hectares of prospective lands in Saskatchewan, a stable jurisdiction that hosts the highest-grade uranium mines in the world, a producing gold mine, diamond deposits, and historical production from base metals mines.
ALX's uranium holdings in northern Saskatchewan include 100% interests in the Gibbons Creek Uranium Project (now the subject of an option earn-in agreement with Trinex Minerals Limited), the Sabre Uranium Project, the Bradley Uranium Project, and the Javelin and McKenzie Lake Uranium Projects, a 40% interest in the Black Lake Uranium Project (a joint venture with Uranium Energy Corporation and Orano Canada Inc.), and a 20% interest in the Hook-Carter Uranium Project, located within the uranium-rich Patterson Lake Corridor with Denison Mines Corp. (80% interest) as operator of exploration since 2016.
ALX also owns 100% interests in the Firebird Nickel Project, the Flying Vee Nickel/Gold and Sceptre Gold projects, and can earn up to an 80% interest in the Alligator Lake Gold Project, all located in northern Saskatchewan, Canada. ALX owns, or can earn, up to 100% interests in the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, and in the Vixen Gold Project (now under option to First Mining Gold Corp., who can earn up to a 100% interest in two stages).
ALX owns a 50% interest in eight lithium exploration properties staked in 2022-2023 collectively known as the Hydra Lithium Project, located in the James Bay region of northern Quebec, Canada, a 100% interest in the Anchor Lithium Project in Nova Scotia, Canada, and 100% interests in the Crystal Lithium Project and the Reindeer Lithium Project, both located in northern Saskatchewan, Canada.
For more information about the Company, please visit the ALX corporate website at www.alxresources.com or contact Roger Leschuk, Manager, Corporate Communications at: PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: rleschuk@alxresources.com
On Behalf of the Board of Directors of ALX Resources Corp.
"Warren Stanyer"
Warren Stanyer, CEO and Chairman
FORWARD-LOOKING STATEMENTS
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include: ALX's interpretation of the 2023 exploration results and 2024 joint venture exploration plans at the Hydra Lithium Project, and ALX's ability to continue to expend funds at that project. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that ALX may not be able to fully finance exploration on our exploration projects, including drilling; our initial findings at our exploration projects may prove to be unworthy of further expenditures; commodity prices may not support further exploration expenditures; exploration programs may be delayed or changed due to any delays experienced in consultation and engagement activities with First Nations communities and local landowners in the region, and the results of such consultations; and economic, competitive, governmental, societal, public health, weather, environmental and technological factors may affect the Company's operations, markets, products and share price. Even if we explore and develop our projects, and even if lithium, uranium, nickel, copper, gold or other metals or minerals are discovered in quantity, ALX's projects may not be commercially viable. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Year Ended December 31, 2023, which is available under the Company's SEDAR profile at www.sedarplus.ca. Except as required by law, we will not update these forward-looking statement risk factors.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
SOURCE: ALX Resources Corp.
ATHA Energy Completes Angilak Project Equipment and Supply Mobilization, Update on Commencement of Diamond Drilling
https://ca.finance.yahoo.com/news/atha-energy-completes-angilak-project-110000844.html
ATHA Energy Corp.
Tue, April 30, 2024 at 4:00 a.m. PDT·11 min read
SASKF
+3.17%
HIGHLIGHTS:
The Company has completed its equipment and supply mobilization to its 100%-owned Angilak Project in Nunavut, Canada.
Mobilization included the delivery of two X10 Diamond Drills (Tactex Industries Ltd.), which are anticipated to nearly double daily meterage production compared to previous drilling campaigns conducted on the Angilak Project.
The mobilization was completed in support of the 2024 Exploration Program at the Angilak Project, scheduled to commence Phase I (Diamond Drilling) in early June 2024.
ATHA has signed a service agreement with Base Diamond Drilling to execute Phase I (Diamond Drilling) at the Angilak Project. Base Drilling operators have extensive experience operating in Canada’s northern regions, as well as many of the Athabasca Basin’s largest and highest-grade uranium deposits.
Angilak Project: The Angilak Project is host to the Lac 50 Uranium Deposit, which is one of the largest high-grade deposits outside of the Athabasca Basin, with a historical mineral resource estimate of 43.3MM lbs at an average grade of 0.69% U3O8.1
Angilak Project 2024 Exploration Programs: build upon the work previously completed by Latitude Uranium (acquired by ATHA):
Phase I (diamond drilling): A ~10,000 m diamond drilling program is planned to begin June 2024, targeting expansion of the Lac 50 Deposit, which remains open in all directions. Exploration drilling is also expected to test high-priority targets on parallel structures to Lac 50 that were previously identified as being prospective to host uranium mineralization.
Phase II (geophysics & ground geochemistry): In concert with the Phase I diamond drilling program, ATHA will also undertake a targeted airborne geophysics program comprised of electromagnetic (“EM”), Mag, and VLF survey types in addition to targeted ground geochemistry sampling and mapping. The objective of Phase II is to identify and derisk a pipeline of additional high-priority targets for future exploration programs.
Angilak Recent Activity: Latitude Uranium (acquired by ATHA) recently completed (September 2023) a diamond drill-based exploration program comprising total a total of 18 holes (5,665 m). The 2023 Program focused on delineation and expansion of the Main Zone within the Lac 50 Deposit, and successfully achieved all objectives:
Extension of known mineralization along strike and at depth within the Main Tuff Horizon, demonstrated by drill hole 23-LC-005 – designed to infill a 100 m gap in historic drilling – intersected grades of up to 7.54 % U3O8 over 1.6 m and represents continuity of high-grade mineralization at depth.
Discovery of a new lense of uranium mineralization within the Lac 50 Deposit
Increased understanding of structural controls on uranium mineralization, and identification of similar settings at regional prospective targets
VANCOUVER, British Columbia, April 30, 2024 (GLOBE NEWSWIRE) -- ATHA Energy Corp. (TSX.V: SASK) (FRA: X5U) (OTCQB: SASKF) (“ATHA” or the “Company”), holder of the largest uranium exploration portfolio in two of the highest-grade uranium districts in the world, is pleased to announce that the Company has completed its equipment and supply mobilization to its 100%-owned Angilak Project in Nunavut.
The mobilization is in support of the 2024 Exploration Program at the Angilak Project, which is anticipated to begin in early June with Phase I diamond drilling and includes an annual fuel supply, drilling, and logging materials, two centrifuges, and most significantly – two state-of-the-art X10 diamond drills. The X10 diamond drill, manufactured by Tactex Industries, from Parksville, BC, is the most versatile and efficient diamond drill available for helicopter supported exploration programs. The two new X10’s are anticipated to nearly double daily meterage production compared to previous drilling on the Angilak Project, significantly decreasing exploration costs.
The Company is also pleased to announce it has signed a service agreement with Base Diamond Drilling Ltd. (“Base”) from Smithers BC to execute Phase I diamond drilling of ATHA’s previously announced 2024 Exploration Program at the Angilak Project. Base has extensive experience working throughout the northern regions of Canada. In the Athabasca Basin in Saskatchewan, Base drillers have successfully and efficiently executed diamond drill programs on the largest and highest-grade uranium deposits in the world, such as Cameco’s Cigar Lake, McArthur River, and NexGen’s Rook I.
ANGILAK PROJECT – NUNAVUT
Angilak Project, situated within the Angikuni Basin approximately 225 km southwest of Baker Lake in the Kivalliq Region of Nunavut (Figure 1). The Angilak Project is host to the Lac 50 Uranium Deposit, which has a historical mineral resource estimate of 43.3MM lbs at an average grade of 0.69% U3O8.1
The 2024 Angilak exploration program will consist of diamond drilling, airborne geophysical surveys, and surficial sampling and mapping programs, prioritized to expand the footprint of known uranium mineralization, while also advancing regional exploration targets. Approximately 10,000 m of diamond drilling is planned to be completed during the June to August time frame. Drill targeting will focus on the Lac 50 Deposit and mineralized corridor, targeting expansion of the deposit footprint both along strike and down-dip, as well as testing parallel structures which may host uranium mineralization. Diamond drilling will also test additional regional targets that have been identified through past exploration campaigns – the most recent of which was completed in 2023 by Latitude Uranium (“Latitude”) (acquired by ATHA). During Latitude’s most recent exploration program completed in the fall of 2023, the company reported uranium drill hole intersections with grades of up to 7.54 % U3O8 over 1.6 m from hole 23-LC-005, which targeted the Lac 50 Deposit.
Figure 1
Figure 1: Plan Map detailing the Angilak Project location within Nunavut1
Qualified Person
The scientific and technical information contained in this news release have been reviewed and approved by Cliff Revering, P.Eng., the Vice President, Exploration of ATHA, who is a "qualified person" as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About ATHA
ATHA is a Canadian mineral company engaged in the acquisition, exploration, and development of uranium assets in the pursuit of a clean energy future. With a strategically balanced portfolio including three 100%-owned post discovery uranium projects (the Angilak Project located in Nunavut, and CMB Discoveries in Labrador hosting historical resource estimates of 43.3 million lbs and 14.5 million lbs U3O8 respectively, and the newly discovered basement hosted GMZ high-grade uranium discovery located in the Athabasca Basin). In addition, the Company holds the largest cumulative prospective exploration land package (8.1 million acres) in two of the world’s most prominent basins for uranium discoveries - ATHA is well positioned to drive value. ATHA also holds a 10% carried interest in key Athabasca Basin exploration projects operated by NexGen Energy Ltd. and IsoEnergy Ltd. For more information visit www.athaenergy.com. 1,2,3
For more information, please contact:
Troy Boisjoli
Chief Executive Officer
Email: info@athaenergy.com
www.athaenergy.com
Historical Mineral Resource Estimates
All mineral resources estimates presented in this news release are considered to be “historical estimates” as defined under NI 43-101, and have been derived from the following (See notes below). In each instance, the historical estimate is reported using the categories of mineral resources and mineral reserves as defined by the CIM Definition Standards for Mineral Reserves, and mineral reserves at that time, and these “historical estimates” are not considered by ATHA to be current. In each instance, the reliability of the historical estimate is considered reasonable, but a Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource, and ATHA is not treating the historical estimate as a current mineral resource. The historical information provides an indication of the exploration potential of the properties but may not be representative of expected results.
Notes on the Historical Mineral Resource Estimate for the Angilak Deposit:
This estimate is considered to be a “historical estimate” under NI 43-101 and is not considered by any of to be current. See below for further details regarding the historical mineral resource estimate for the Angilak Property.
Mineral resources which are not mineral reserves do not have demonstrated economic viability.
The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues.
The quality and grade of the reported inferred resource in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource, and it is uncertain if further exploration will result in upgrading them to an indicated or measured resource category.
Contained value metals may not add due to rounding.
A 0.2% U3O8 cut-off was used.
The mineral resource estimate contained in this press release is considered to be “historical estimates” as defined under NI 43-101 and is not considered to be current.
The “historical estimate” is derived from a Technical Report entitled “Technical Report and Resource Update For The Angilak Property, Kivalliq Region, Nunavut, Canada”, prepared by Michael Dufresne, M.Sc., P.Geol. of APEX Geosciences, Robert Sim, B.Sc., P.Geo. of SIM Geological Inc. and Bruce Davis, Ph.D., FAusIMM of BD Resource Consulting Inc., dated March 1, 2013 for ValOre Metals Corp.
As disclosed in the above noted technical report, the historical estimate was prepared under the direction of Robert Sim, P.Geo, with the assistance of Dr. Bruce Davis, FAusIMM, and consists of three-dimensional block models based on geostatistical applications using commercial mine planning software. The project limits area based in the UTM coordinate system (NAD83 Zone14) using nominal block sizes measuring 5x5x5m at Lac Cinquante and 5x3x3 m (LxWxH) at J4. Grade (assay) and geological information is derived from work conducted by Kivalliq during the 2009, 2010, 2011 and 2012 field seasons. A thorough review of all the 2013 resource information and drill data by a Qualified Person, along with the incorporation of subsequent exploration work and results, which includes some drilling around the edges of the historical resource subsequent to the publication of the 2013 technical report, would be required in order to verify the Angilak Property historical estimate as a current mineral resource.
The historical mineral resource estimate was calculated in accordance with NI 43-101 and CIM standards at the time of publication and predates the current CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014) and CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (November, 2019).
A thorough review of all historical data performed by a Qualified Person, along with additional exploration work to confirm results would be required to produce a current mineral resource estimate prepared in accordance with NI 43-101.
Notes on the Historical Mineral Resource Estimate for the Moran Lake Deposit:
Jeffrey A. Morgan, P.Geo. and Gary H. Giroux, P.Eng. completed a NI 43-101 technical report titled “Form 43-101F1 Technical Report on the Central Mineral Belt (CMB) Uranium Project, Labrador, Canada, Prepared for Crosshair Exploration & Mining Corp.” and dated July 31, 2008, with an updated mineral resource estimate for the Moran Lake C-Zone along with initial mineral resources for the Armstrong and Area 1 deposits. They modelled three packages in the Moran Lake Upper C-Zone (the Upper C Main, Upper C Mylonite, and Upper C West), Moran Lake Lower C-Zone, two packages in Armstrong (Armstrong Z1 and Armstrong Z3), and Trout Pond. These mineral resources are based on 3D block models with ordinary kriging used to interpolate grades into 10 m x 10 m x 4 m blocks. A cut-off grade of 0.015% U3O8 was used for all zones other than the Lower C Zone which employed a cut-off grade of 0.035%. A thorough review of all historical data performed by a Qualified Person, along with additional exploration work to confirm results, would be required to produce a current mineral resource estimate prepared in accordance with NI 43-101 standards.
3. Notes on the Historical Mineral Resource Estimate for the Anna Lake Deposit:
The mineral resource estimate contained in this table is considered to be a “historical estimate” as defined under NI 43-101, and is not considered to be current and is not being treated as such. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources. A qualified person would need to review and verify the scientific information and conduct an analysis and reconciliation of historical drill and geological data in order to verify the historical estimate as a current mineral resource.
Reported by Bayswater Uranium Corporation in a Technical Report entitled “Form 43-101 Technical Report on the Anna Lake Uranium Project, Central Mineral Belt, Labrador, Canada”, prepared by R. Dean Fraser, P.Geo. and Gary H. Giroux, P.Eng., dated September 30, 2009.
A 3-dimensional geologic model of the deposit was created for the purpose of the resource estimate using the Gemcom/Surpac modeling software. A solid model was created using a minimum grade x thickness cutoff of 3 meters grading 0.03% U3O8. Intersections not meeting this cutoff were generally not incorporated into the model. The shell of this modeled zone was then used to constrain the mineralization for the purpose of the block model. Assay composites 2.5 meters in length that honoured the mineralized domains were used to interpolate grades into blocks using ordinary kriging. An average specific gravity of 2.93 was used to convert volumes to tonnes. The specific gravity data was acquired in-house and consisted of an average of seventeen samples collected from the mineralised section of the core. The resource was classified into Measured, Indicated or Inferred using semi-variogram ranges applied to search ellipses. All resources estimated at Anna Lake fall under the “Inferred” category due to the wide spaced drill density. An exploration program would need to be conducted, including twinning of historical drill holes in order to verify the Anna Lake Project estimate as a current mineral resource.
Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. These forward-looking statements or information may relate to ATHA’s proposed exploration program, including statements with respect to the expected benefits of ATHA’s proposed exploration program, any results that may be derived from ATHA’s proposed exploration program, the timing, scope, nature, breadth and other information related to ATHA’s proposed exploration program, any results that may be derived from the diversification of ATHA’s portfolio, the prospects of ATHA’s projects, including mineral resources estimates and mineralization of each project, the prospects of ATHA’s business plans and any expectations with respect to defining mineral resources or mineral reserves on any of ATHA’s projects, and any expectation with respect to any permitting, development or other work that may be required to bring any of the projects into development or production.
Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions that the anticipated benefits of ATHA’s proposed exploration program will be realized, that no additional permit or licenses will be required in connection with ATHA’s exploration programs, the ability of ATHA to complete its exploration activities as currently expected and on the current anticipated timelines, including ATHA’s proposed exploration program, that that ATHA will be able to execute on its current plans, that ATHA’s proposed explorations will yield results as expected, the synergies between ATHA, 92 Energy and Latitude Uranium’s assets, and that general business and economic conditions will not change in a material adverse manner. Although ATHA has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
Such statements represent the current view of ATHA with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by ATHA, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: inability of ATHA to realize the benefits anticipated from the exploration and drilling targets described herein or elsewhere; in ability of ATHA to complete current exploration plans as presently anticipated or at all; inability for ATHA to economically realize on the benefits, if any, derived from the exploration program; failure to complete business plans as it currently anticipated; overdiversification of ATHA’s portfolio; failure to realize on benefits, if any, of a diversified portfolio; unanticipated changes in market price for ATHA shares; changes to ATHA’s current and future business and exploration plans and the strategic alternatives available thereto; growth prospects and outlook of the business of ATHA; any impacts of COVID-19 on the business of ATHA and the ability to advance the Company projects and its proposed exploration program; risks inherent in mineral exploration including risks related worker safety, weather and other natural occurrences, accidents, availability of personnel and equipment, and other factors; aboriginal title; failure to obtain regulatory and permitting approvals; no known mineral resources/reserves; reliance on key management and other personnel; competition; changes in laws and regulations; uninsurable risks; delays in governmental and other approvals, community relations; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions in Canada and other jurisdictions where ATHA conducts business. Other factors which could materially affect such forward-looking information are described in the filings of ATHA with the Canadian securities regulators which are available on ATHA’s profile on SEDAR+ at www.sedarplus.ca. ATHA does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/afef15c2-7551-4a5c-a65b-131ee5cc78a6
Cameco Reports Q1 Results: 2024 Outlook Remains Solid; Financial Discipline and Strong Cash Position Result in Focused Debt Reduction; Operationally, Segments Performing to Plan; Attributes of Baseload Nuclear Power Attracting Tech Sector Investment
https://ca.finance.yahoo.com/news/cameco-reports-q1-results-2024-105000444.html
Business Wire
Tue, April 30, 2024 at 3:50 a.m. PDT·28 min read
CCO.TO
-5.75%
CCJ
-6.45%
SASKATOON, Saskatchewan, April 30, 2024--(BUSINESS WIRE)--Cameco (TSX: CCO; NYSE: CCJ)
Nuclear Fuels Announces Resumption of Drilling at Its Kaycee ISR Uranium Project, Powder River Basin, Wyoming
https://www.newswire.ca/news-releases/nuclear-fuels-announces-resumption-of-drilling-at-its-kaycee-isr-uranium-project-powder-river-basin-wyoming-852490703.html
Nuclear Fuels Inc. Apr 29, 2024, 08:00 ET
CSE:NF
VANCOUVER, BC, April 29, 2024 /CNW/ - Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF)
Mamba Exploration/Standard Uranium Prepare to Mobilize for JV-Partner Funded Inaugural Drill Program at Canary Project, Eastern Athabasca Basin
https://ca.finance.yahoo.com/news/standard-uranium-prepares-mobilize-jv-110000251.html
Standard Uranium Ltd.
Mon, April 29, 2024 at 4:00 a.m. PDT·6 min read
STTDF
+4.14%
VANCOUVER, British Columbia, April 29, 2024 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to announce that drilling and mobilization plans have been finalized for the inaugural drill program on the 7,302-hectare Canary Project (“Canary” or “the Project”). The Project is currently under a three-year earn-in option agreement (the “Option Agreement”) with Mamba Exploration Limited. (“Mamba”). Pursuant to the Option Agreement, Mamba has been granted an option (the “Option”) to earn a 75% interest in the Project by funding CAD$6M in exploration expenditures over three years, with the inaugural drill program planned for spring 2024.
The Company and Mamba are pleased to announce that final planning is complete for the inaugural Spring/Summer drill program on the Project, situated in the prolific eastern Athabasca Basin (Figure 1). Exploration teams will be mobilizing to the field in early May, ahead of schedule.
Highlights:
Drill Plan Finalized: Approximately 1,000-1,500 metres planned across 3-4 drill holes, targeting shallow high-grade1 unconformity-related uranium mineralization.
Robust & Shallow Drill Targets: Drill plans comprise helicopter-supported diamond drilling focused on high-priority unconformity-related uranium targets refined by geophysical work completed by the Company in 2022. Ideal unconformity and basement target zones on the Project lie within approximately 200-350 metres below surface.
Untapped Uranium Potential: One diamond drill will focus on the highest-priority target area along the northern electromagnetic (“EM”) corridor (Figure 2), investigating a significant resistivity anomaly coincident with modeled VTEM conductors for the first time.
Fully Funded: Mamba Exploration will be funding 100% of the program to meet the year-one expenditure requirements under the Option Agreement.
Mobilization: Diamond drilling crews will mobilize to the Canary Project on May 3rd.
1 The Company considers uranium mineralization with concentrations greater than 1.0 wt% U3O8 to be “high-grade”.
“Our technical team and partners at Mamba are thrilled to begin drilling the exciting targets identified on the first of three EM corridors on the Project for the first time, exploring for shallow high-grade unconformity-related uranium mineralization,” said Sean Hillacre, President & VP Exploration for the Company. “Our exploration thesis on the Project is directly analogous to the targeting strategies that lead to recent discoveries in the Mudjatik Domain such as the high-grade Hurricane deposit just to the south of Canary.”
Overview of northeastern Athabasca Basin region, highlighting the Canary Project. Hurricane Deposit Indicated Resource from IsoEnergy Ltd. Technical Report on the Larocque East Project, Northern Saskatchewan, Canada. Dates July 8, 2022.
Figure 1. Overview of northeastern Athabasca Basin region, highlighting the Canary Project. Hurricane Deposit Indicated Resource from IsoEnergy Ltd. Technical Report on the Larocque East Project, Northern Saskatchewan, Canada. Dates July 8, 2022.
Inaugural 2024 Drill Program
The spring/summer program will be the first drill campaign completed by the Company on the Project with partner company Mamba Exploration, following successful identification of high-priority targets in 2022-2023. The Project covers more than 16 km of conductive corridors across three prospective exploration trends which locally host anomalous historical uranium occurrences. The Company completed a high-resolution ground DC/IP survey on the project in 2022, providing valuable structural and lithological information in the area to identify conductive bodies and potential fault systems. Significant resistivity-low anomalies are present along the northern conductor on the project, potentially representing substantial hydrothermal alteration zones in the sandstone and coincident with basement conductors.
The Base Diamond Drilling team is scheduled to arrive at the Project on May 3rd to begin drill pad preparation, and the Standard Uranium team is slated to mobilize on May 8th, 2024.
The Project is situated in the Mudjatik geological domain where several recent discoveries have been made, including IsoEnergy’s Hurricane Deposit located 11 km directly to the south, and is significantly underexplored relative to adjacent magnetic low/EM conductor corridors. Drill targets have been prioritized on the northern Canary EM corridor, providing robust and untested drill targets for the Phase I drilling program (Figure 2 and Figure 3).
Geophysical map highlighting basement-linked resistivity anomalies identified through the 2022 DC/IP survey on the Canary Project. The 2024 drill target area is circled in red. Three main exploration trends and historical drill holes are displayed with first vertical derivative (1VD) magnetics in the background.
Figure 2. Geophysical map highlighting basement-linked resistivity anomalies identified through the 2022 DC/IP survey on the Canary Project. The 2024 drill target area is circled in red. Three main exploration trends and historical drill holes are displayed with first vertical derivative (1VD) magnetics in the background.
Schematic cross-section A-A’ (Figure 2) facing west through the northern conductor trend on the Project, highlighting significant resistivity anomalies coincident with modeled EM conductors.
Figure 3. Schematic cross-section A-A’ (Figure 2) facing west through the northern conductor trend on the Project, highlighting significant resistivity anomalies coincident with modeled EM conductors.
Additionally, legacy GeoTEM data defining the southeastern EM corridor on the project is directly comparable to the response and scale of the GeoTEM conductor which hosts the Roughrider/J-zone uranium deposits further to the south. Highly anomalous geochemistry and favorable alteration was returned from historical drill hole CRK-137 along the southeastern conductor, providing an exceptional follow-up target for Phase II drilling.
The scientific and technical information contained in this news release has been reviewed, verified, and approved by Sean Hillacre, P.Geo., President & VP Exploration of the Company and a “qualified person” as defined in NI 43-101.
About Standard Uranium (TSX-V: STND)
We find the fuel to power a clean energy future
Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in the world’s richest uranium district. The Company holds interest in over 209,867 acres (84,930 hectares) in the world-class Athabasca Basin in Saskatchewan, Canada. Since its establishment, Standard Uranium has focused on the identification, acquisition, and exploration of Athabasca-style uranium targets with a view to discovery and future development.
Standard Uranium has successfully completed four joint venture earn in partnerships on their Sun Dog, Canary, Atlantic and Ascent projects totaling over $31M in work commitments over the next three years from 2024-2026.
Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, comprises ten mineral claims over 30,737 hectares. Davidson River is highly prospective for basement-hosted uranium deposits due to its location along trend from recent high-grade uranium discoveries. However, owing to the large project size with multiple targets, it remains broadly under-tested by drilling. Recent intersections of wide, structurally deformed and strongly altered shear zones provide significant confidence in the exploration model and future success is expected.
Standard Uranium’s eight eastern Athabasca projects comprise thirty mineral claims over 32,838 hectares. The eastern basin projects are highly prospective for unconformity related and/or basement hosted uranium deposits based on historical uranium occurrences, recently identified geophysical anomalies, and location along trend from several high-grade uranium discoveries.
Standard Uranium's Sun Dog project, in the northwest part of the Athabasca Basin, Saskatchewan, is comprised of nine mineral claims over 19,603 hectares. The Sun Dog project is highly prospective for basement and unconformity hosted uranium deposits yet remains largely untested by sufficient drilling despite its location proximal to uranium discoveries in the area.
For further information contact:
Jon Bey, Chief Executive Officer, and Chairman
Suite 918, 1030 West Georgia Street
Vancouver, British Columbia, V6E 2Y3
Tel: 1 (306) 850-6699
E-mail: info@standarduranium.ca
Cautionary Statement Regarding Forward-Looking Statements
This news release contains “forward-looking statements” or “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements include, but are not limited to, statements regarding: the timing and content of upcoming work programs; geological interpretations; timing of the Company’s exploration programs; and estimates of market conditions.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements are highlighted in the “Risks and Uncertainties” in the Company’s management discussion and analysis for the fiscal year ended April 30, 2023.
Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company’s actual financial results, performance, or achievements to be materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop forward-looking statements include, without limitation: that the transaction with the Optionee will proceed as planned; the future price of uranium; anticipated costs and the Company’s ability to raise additional capital if and when necessary; volatility in the market price of the Company’s securities; future sales of the Company’s securities; the Company’s ability to carry on exploration and development activities; the success of exploration, development and operations activities; the timing and results of drilling programs; the discovery of mineral resources on the Company’s mineral properties; the costs of operating and exploration expenditures; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); uncertainties related to title to mineral properties; assessments by taxation authorities; fluctuations in general macroeconomic conditions.
The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/27e7afc7-a5e0-45b4-88da-cbd0e453c6a1
https://www.globenewswire.com/NewsRoom/AttachmentNg/cbadae22-5074-4b45-8e60-37fb451c5a16
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Bedford Metals Reaches Definitive Agreement for Ubiquity Lake Uranium Project in Athabasca, Canada
https://ca.finance.yahoo.com/news/bedford-metals-reaches-definitive-agreement-060000751.html
Bedford Metals Corp.
Sun, April 28, 2024 at 11:00 p.m. PDT·4 min read
URGYF
0.00%
VANCOUVER, British Columbia, April 29, 2024 (GLOBE NEWSWIRE) -- Bedford Metals Corp. (TSX-V: BFM) (the “Company” or “Bedford”) announces that following a successful diligence review, it has elected to enter into a definitive option agreement (the “Agreement”), with an arms-length party, to acquire the Ubiquity Lake Uranium Project located in the renowned Athabasca Basin, Canada. This Agreement allows Bedford Metals to expand its existing mineral property portfolio with a highly prospective uranium project.
The Ubiquity Lake Uranium Project, covering 1382 hectares, lies just south of the bottom lip of the Athabasca Basin, adjacent to ALX Uranium’s Carpenter Lake Project to the east. Situated near the Cable Bay Shear Zone, parallel to the Virgin River Shear Zone, which hosts Cameco’s Centennial uranium deposit, the project holds immense potential. Furthermore, it is located 100 km west of Cameco’s past-producing Key Lake uranium mine, underscoring the strategic significance of its location.
Peter Born, President of Bedford, expressed his appreciation for the Company's technical advisors in facilitating the successful completion of due diligence, stating, "The Ubiquity Lake Uranium Project represents a significant step forward in our mission to create shareholder value. The addition of this highly prospective uranium project to our portfolio gives us the potential to play a role in the new green energy economy."
Bedford reaffirms its commitment to environmental stewardship and collaboration with local nations and communities as it moves forward with the Ubiquity Lake Uranium Project. The Company remains dedicated to conducting its operations responsibly and ethically, ensuring minimal environmental impact and fostering positive stakeholder relationships.
For further information regarding the Ubiquity Lake Uranium Project, and the terms by which the Company can acquire the Project, readers are encouraged to review the news release issued by the Company on March 7, 2024. No finders' fees or commissions are payable by the Company in connection with the Agreement, nor does the Agreement contemplate that any securities of the Company would be issued.
About Bedford Metals Corp.
Bedford Metals Corp. is a mineral exploration company. We create value for our shareholders by identifying and developing highly prospective mineral exploration opportunities. Our strategy is to advance our projects from discovery to production, allowing Bedford to achieve exceptional shareholder value through the entire mining life cycle.
Ubiquity Lake Uranium Project, covering 1382 hectares, lies just south of the bottom lip of the Athabasca Basin, adjacent to ALX Uranium’s Carpenter Lake Project to the east. Situated near the Cable Bay Shear Zone, parallel to the Virgin River Shear Zone, which hosts Cameco’s Centennial uranium deposit, the project holds immense potential. Furthermore, it is located 100 km west of Cameco’s past-producing Key Lake uranium mine, underscoring the strategic significance of its location.
Margurete Gold Project. Bedford owns a one-hundred percent interest in the Margurete Gold Project. The primary target of the Margurete Gold Project is the FB Zone. The project was last explored in 2018 with property-wide prospecting, mapping, and rock chip sampling, in parallel with a targeted pack-sack diamond drilling program. An initial exploration program was completed on the Margurete property in 1986 by Falconbridge. This program consisted of geochemical surveys, ground-based geophysics, and a diamond drilling program, successfully identifying gold-bearing veins, which are believed to be genetically related to the same mineralizing events responsible for the nearby Doratha Morton and Alexandria Gold mines.
Dr. Peter Born, PGeo, is the designated qualified person as defined by National Instrument 43-101 and is responsible for, and has approved, the technical information contained in this release.
For further information, please contact the Company at info @hage-1199 or visit the Company’s website at www.bedfordmetals.com.
On behalf of the Board,
Bedford Metals Corp.
“Peter Born”
President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
CONTACT:
MRKT360 INC
https://mrkt360.com
Alex Zertuche
alexz@mrkt360.com
For E.S.T Office Hours, Call 1 416-477-0587
Ashley Provides Historical Drilling Summary of Sahara Utah Uranium-Vanadium Property
https://www.accesswire.com/856437/ashley-provides-historical-drilling-summary-of-sahara-utah-uranium-vanadium-property
Thursday, 25 April 2024 08:30 AM
CALGARY, AB / ACCESSWIRE / April 25, 2024 / Ashley Gold Corp. (CSE:ASHL)
ALX Resources Intersects Additional Uranium Mineralization at the Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan
https://www.newsfilecorp.com/release/206777
April 25, 2024 7:30 AM EDT | Source: ALX Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 25, 2024) - ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF)
Panther Minerals Significantly Expands Footprint of the Boulder Creek Uranium Property, Alaska
https://thenewswire.com/press-releases/1Be9Fap4G-panther-minerals-significantly-expands-footprint-of-the-boulder-creek-uranium-property-alaska.html
Vancouver, British Columbia - TheNewswire – April 25, 2024 - Panther Minerals Inc. (“Panther Minerals” or the “Company”) (CSE:PURR) (OTC:GLIOF) is pleased to announce that it has significantly enlarged the footprint of the Boulder Creek uranium property (the “Property”), located in western Alaska and in respect of which it has an option (“Boulder Creek Option”) to acquire a 100% ownership interest, by staking 140 State of Alaska mining claims. Each claim is 160 acres in size, bringing the total footprint of the Property to 22,400 acres or 9,065 hectares (90.65 square kms). The Property now extends in a North Northwest – South Southeast for approximately 30 kms and varies in width from 3 to 7 kms. The recent staking campaign was designed to duplicate the area that was held, and the subject of exploration work by, Triex Mineral Corp. (“Triex”).
In July 2006, Triex flew a total of 1,155 line-km of airborne radiometric surveying over the area covered by the newly-staked claims using Triex’s in-house Exploranium GR460 spectrometer system that utilized two GPX-256 sodium iodide crystals mounted on a Hughes 500E helicopter (Internal Triex Company Report – Summary Report on the Boulder Creek Property 2006). The Company concluded, based on a review of the radiometric anomalies that were previously identified by Triex, the newly staked claims warranted additional exploration. The Company notes that a Qualified Person (within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”) has not done sufficient work to verify the foregoing historical information. The Company is not treating such historical information as being reliable, and it should not be relied upon.
The Company is continuing to gather and assess the information from the field activities conducted by Triex between 2006 – 2008 in preparation for its planned summer 2024 exploration program.
About the Property
The Property is located on Alaska's Seward Peninsula in northwestern Alaska and hosts the Boulder Creek uranium deposit within tertiary-aged sandstones peripheral to a Late Cretaceous alkalic quartz monzonite intrusion.
The scientific and technical information in this news release has been reviewed and approved for disclosure by Mr. Lindsay Bottomer, P.Geo. Mr. Bottomer is a “Qualified Person” within the meaning of NI 43-101 and is a consultant to the Company.
The Company also announces that it has engaged Fairfax Partners Inc. (“Fairfax Partners”), for a nine-month term (“Term”), to provide marketing, communication and investor relations services for the Company (the “Fairfax Agreement”). The Company will pay a one-time startup fee of $50,000 to Fairfax Partners and $10,000 per month until the Term, or unless terminated or extended pursuant to the Fairfax Agreement. The Company will not issue any securities to Fairfax Partners in consideration for the services. Fairfax Partners does not have any prior relationship with the Company and the Company and Fairfax Partners deal at arm’s length. As of the date hereof, to the company's knowledge, Fairfax Partners (including its directors and officers) do not own any securities of the Company.
About Panther Minerals Inc.
Panther Minerals Inc. is a mineral exploration company actively involved in the exploration of its North American project portfolio. The acquisition of the Boulder Creek Option reflects the Company's ongoing intention of pursuing advanced, highly quality prospective uranium projects that can be readily worked and efficiently explored in a timely manner. For more information please visit: www.pantherminerals.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
Mr. Robert Birmingham: Chief Executive Officer
Head Office: 305-1770 Burrard St. Vancouver, British Columbia, V6J3G7
Telephone: +1 (604) 416 0569
Website: www.pantherminerals.ca
Email: info@pantherminerals.ca
The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Property, the timing of exploration programs in the summer of 2024, whether the Company will exercise the Boulder Creek Option, expectations relating to the additional 140 State of Alaska mining claims and the expected benefits and opportunities that will arise with respect to the Property. The forward-looking information reflects management's current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Such risk factors may include, among others, but are not limited to: general economic conditions in Canada and globally; the inability of the Company to exercise the Boulder Creek Option; the possibility that a counterparty may breach a contractual arrangement; industry conditions, including governmental regulation and environmental regulation; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; and (ii) other factors beyond the control of the Company. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedarplus.ca.
Cosa Resources Announces Completion of Inaugural Diamond Drilling Program at the 100% Owned Ursa Uranium Project in the Athabasca Basin, Saskatchewan
https://www.newsfilecorp.com/release/206631
April 24, 2024 7:43 AM EDT | Source: Cosa Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 24, 2024) - Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU)
Atomic Minerals Plans Exploration with New Initiatives in Northern Saskatchewan's Uranium Epicenter
https://www.newsfilecorp.com/release/206492
April 23, 2024 8:00 AM EDT | Source: Atomic Minerals Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2024) - Atomic Minerals Corporation (TSXV: ATOM) ("ATOMIC MINERALS" or the "Company") is pleased to announce that in anticipation of the upcoming exploration season the Company has engaged Grander Exploration Ltd. ("Grander") to drive preliminary exploration programs and provide recommendations and budgets for the lead projects in its newly acquired Northern Saskatchewan property portfolio (the "Property"). (see February 5, 2024, March 6, 2024, and April 16, 2024 news releases).
Initially the focus will be on the projects within the Athabasca Basin: Parks Lake and Pistol Lake, one project to the south, Archie Lake and one project to the southeast, Bleasdell Lake.
"Atomic Minerals is thrilled to announce the engagement of Grander Exploration to spearhead the planning and future execution of exploration programs, it's an exciting time for Atomic Minerals with these new prospects in Northern Saskatchewan's Athabasca Basin," said Clive Massey, President, and CEO of Atomic Minerals. "Grander's innovative geological tools, including IP, magnetometer, and radiometric surveys, will expand the capabilities of our geological team, enabling a thorough investigation of these prolific uranium properties and building on the region's rich uranium mining heritage to optimally position our projects for success," he continued.
The Property portfolio in Northern Saskatchewan is comprised of nine individual properties spanning nearly 6,500 hectares. This strategically located portfolio lies within and adjacent to the prolific Athabasca Basin, a crucial area for uranium exploration.
Atomic Minerals is committed to responsibly advancing these projects with a focused exploration strategy targeting the full exploration potential of these assets. The Company's dedication to sustainable practices, community engagement, and ethical exploration will drive the development of these projects, reinforcing Atomic Minerals' position as a leader in the uranium exploration sector.
Parks Lake
Parks Lake lies in a highly prospective area on the eastern side of the Athabasca Basin, 3 km to SE of historic Rabbit Lake Mine and 2 km to 4km E to NE of Uranium Energy Corp.'s Horseshoe and Raven deposits. Majors completely surround Parks Lake, with Uranium Energy bordering the west and south and Cameco bordering the east and north. Conductors appear to trend from Uranium Energy's land onto the Parks Lake property, suggesting a high priority target.
With good road access, Grander Exploration proposes a 6-line km combined induced polarization ("IP") and magnetometer program along with 12-line km of radiometry. The focus of this program is confirming conductors continue onto the Parks Lake property and delineate them for subsequent drilling.
Pistol Lake
Pistol Lake lies 600 metres north of Cameco's 5,000,000 LBS Sand Lake Uranium Deposits, completely surrounded by Cameco. Recent drilling has been undertaken on most of the nearby claims according to the property vendor, suggesting conductors that appear to trend onto the Pistol Lake property are high priority targets.
Grander Exploration proposes a helicopter supported program consisting of 20-line km of IP-magnetometer-radiometry surveying focused on the suspected strike extensions of conductors on the Cameco ground in advance of diamond drilling.
Bleasdell Lake
Bleasdell Lake, lying to the southeast of the Athabasca Basin, 95 kilometres southwest of Lynn Lake, Manitoba, is one of the key properties in the package. Exploration in the late 1950's discovered two uranium bearing pegmatite dykes on the west shore of Bleasdell Lake. The 400 metre Horn Zone hosted zones of 90 metres of 0.12% U3O8 over 2.56 metres and 0.062% U3O8 over 1.21 metres, while drill width intersections over the entire 400 metre ranged from 0.091% U3O8 over 1.86 metres to 0.2025% U3O8 over 2.99 metres. There is little information on the Jackpine Zone located 450 metres along strike to the northwest. The sampling, trenching and diamond drilling defined a 1957 historic resource of 620,700 pounds of U3O8 contained within two zones.
Grander Exploration proposes a helicopter supported program consisting of 18-line km of IP surveying and 50-line km of magnetometer surveying focused on the strike extensions of the Horn and Jackpine zones in advance of diamond drilling.
The 1957 Bleasdell Lake historic resource was disclosed in a shareholder report for Columbia Metals Exploration Co. Ltd. dated November 9, 1957 (the "Shareholder Report"). There is no technical report. The historic resource is relevant to the potential of the Bleasdell Lake property and is reliable as it was calculated to the standards of the day. The estimate was based on closely spaced shallow drill holes and more widely spaced deeper drill holes. The calculations, methods or parameters were not disclosed in the Shareholder Report. The resource would be comparable to a current inferred resource. There are no more recent estimates though subsequent geologists visited the Property in the 1960's and 1970's, confirming the showings and the drilling was completed. The Company will need to twin a considerable number of the historic drill holes to upgrade or verify the historical estimate as current mineral resources.
A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource. Therefore, Atomic Minerals is not treating the historical estimate as a current mineral resource.
Archie Lake
Archie Lake lies contiguous to the north, east and west to NexGen Energy, on the southwest edge of the Athabasca Basin. NexGen holds a significant land package across three large blocks in this area, focused on repeats of its Arrow high-grade basement hosted uranium deposit. Grander Exploration proposes a helicopter supported program consisting of 6-line km of IP and magnetometer and 12-line km of radiometry surveying as a first pass program to identify prospective geology and conductors for follow up exploration in advance of diamond drilling.
About Grander Exploration Ltd.
Grander Exploration Ltd. is a specialized company based in Vancouver, British Columbia, that provides comprehensive ground exploration services across Canada. Their services are tailored to both large and small projects, ensuring that every undertaking is managed with the highest level of expertise by qualified personnel, including Professional Geologists if required. The company is particularly adept in uranium exploration, utilizing advanced technologies such as gamma radiation detection with Radiation Solutions RS-125 spectrometers and RS-120 scintillometers, alongside radon gas collection methods. These techniques enable Grander Exploration to identify and map uranium deposits effectively. They also offer a range of other services, including diamond drilling, geophysical surveys like IP and VLF EM to locate subsurface features, and detailed program planning and administration for exploration projects?. For more detailed information about their services and capabilities, you can visit their official website: Grander Exploration.
The data disclosed in this news release are related to historical exploration and drilling results. Atomic Minerals has not undertaken any independent investigation of the sampling, nor has it independently analyzed the results of the historical exploration work in order to verify the results. The Company considers these historical exploration and drill results relevant as the Company is using these data as a guide to plan exploration programs. The Company's current and future exploration work includes verification of the historical data through sampling and drilling.
Qualified Person
Mr. R. Tim Henneberry, P.Geo. (BC), an advisor to the Company, is the "Qualified Person" under National Instrument 43-101 responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.
About the Company
Atomic Minerals Corp. is a publicly listed exploration company on the TSX Venture Exchange, trading under the symbol ATOM, led by a highly skilled management and technical team with a proven track record in the junior mining sector. Atomic Minerals' objective is to identify exploration opportunities in regions that have been previously overlooked but are geologically similar to those with previous uranium discoveries. These underexplored areas hold immense potential and are in stable geopolitical and economic environments.
Atomic Minerals' property portfolio contains uranium projects in three locations within North America, all of which have significant technical merit and or are known for hosting uranium production in the past. Three of the properties are located on the Colorado Plateau, an area which has previously produced 597 million pounds of U3O8; Three others are in the prolific Athabasca Basin region and nine uranium projects are located in Northern Saskatchewan, encompassing a total exploration area of 6,495 hectares.
For additional information about the Company and its projects, please visit our website at www.atomicminerals.ca
ON BEHALF OF THE BOARD OF DIRECTORS
"Clive Massey"
Clive H. Massey
President & CEO
For further information, please contact:
(604) 341-6870
Neither TSX Venture Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements:
This news release contains certain statements that may be deemed "forward-looking" statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Atomic Minerals Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Atomic Minerals Corporation management on the date the statements are made. Except as required by law, Atomic Minerals Corporation undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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SOURCE: Atomic Minerals Corp.
CanAlaska Uranium/ Nexus Uranium Provide Update on Cree East Project Permitting
https://www.newsfilecorp.com/release/206483
April 23, 2024 6:00 AM EDT | Source: Nexus Uranium Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2024) - Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) (FSE: 3H1) (the "Company" or "Nexus Uranium") is pleased to provide an update on permitting for the Cree East uranium project in the Athabasca Basin of Saskatchewan, Canada (the "Cree East" or the "Project"). Nexus Uranium has the right to earn up to a 75% interest in the Project from CanAlaska Uranium Ltd. (TSXV: CVV). A three-year exploration permit application for the Project was submitted on March 19, 2024 and, if granted will allow for year-round exploration of up to 40,000 metres of drilling plus 300 line-kilometres of geophysics and other exploration programs. In addition, Condor Consulting, Inc. has been engaged to provide a comprehensive review and reinterpretation of all previous geophysical studies. This review will aid the Company in both designing a follow-up ground exploration and drill program to test the four defined priority target areas, as well as potentially identifying new targets due to the advancements of modern geophysical techniques compared to the historical studies (due to the deepening of the unconformity basement contact in deeper portions of the Athabasca Basin within the Project).
"Having now submitted for exploration permits for a multi-year program, we anticipate having all the necessary approvals in place for a summer exploration program," commented Jeremy Poirer, CEO of Nexus Uranium. "Given the extensive amount of high-quality historical exploration, in conjunction with a thorough review of prior geophysical and geological models, we anticipate finalizing a number of high-priority targets for drilling in the upcoming exploration program."
About Nexus Uranium Corp.
Nexus Uranium is a multi-commodity development company focused on advancing the Cree East uranium project in the Athabasca Basin and the Wray Mesa uranium-vanadium project in Utah in addition to its precious metals portfolio that includes the development-stage Independence mine located adjacent to Nevada Gold Mine's Phoenix-Fortitude mine in Nevada, the Napoleon gold project in British Columbia, and a package of gold claims in the Yukon. The Cree East project is one of the largest projects within the Athabasca Basin of Saskatchewan spanning 57,752 hectares (142,708 acres) and has seen over $20 million in exploration to date. The Wray Mesa project covers 6,282 acres within the heart of the prolific Uruvan mining district in Utah and has extensive historical drilling of over 500 holes defining multiple mineralized zones. The Independence project hosts an M&I (measured and indicated) resource of 334,300 ounces of gold (28M tonnes at 0.41 g/t gold) and an inferred resource of 847,000 ounces (9M tonnes at 3.22 g/t gold) of gold with a substantial silver credit. A 2022 Preliminary Economic Assessment (PEA) outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of $1,078 (U.S.) per ounce of gold. The Napoleon project comprises over 1,000 hectares and prospective for multiple forms of gold mineralization, with exploration in the area dating back to the 1970s with the discovery of high-grade gold. The Yukon gold projects are comprised of almost 8,000 hectares of quartz claims prospective for high-grade gold mineralization with historical grab sampling highlights of 144 g/t gold.
Nexus Uranium cautions investors the preliminary economic assessment is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. The Company further cautions investors Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability and further cautions investors the quantity and grade of the reported inferred Mineral Resources are uncertain in nature ?and there has been insufficient exploration to define these inferred Mineral Resources as ?indicated Mineral Resources.
The Company cautions investors it has yet to verify the historical data and further cautions investors grab samples are selective by nature and are unlikely to represent average grades of sampling on the entire property.
The technical content of this news release has been reviewed and approved by Warren D. Robb, P.Geo. (BC), a Director and VP Exploration of Nexus Uranium Corp. and a Qualified Person under National Instrument 43-101.
--
FOR FURTHER INFORMATION PLEASE CONTACT:
Jeremy Poirier
Chief Executive Officer
info@nexusuranium.com
This news release includes certain statements and information that may constitute "forward-looking information" within the meaning of applicable Canadian securities laws. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information, including, but not limited to, planned permitting and exploration at the Cree East Project.
Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release, including, but not limited to the assumption that the Company will be successful in obtaining all necessary permits to complete exploration and the assumption that such exploration will be able to commence this summer.
These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including, but not limited to general market and industry conditions, as well as those risk factors discussed in the Company's most recently filed management's discussion & analysis.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.
SOURCE: Nexus Uranium Corp.
Myriad Announces Acquisition of Historic Bonanza and Kermac/Day Uranium Mines at Copper Mountain
https://www.newsfilecorp.com/release/206089
April 19, 2024 7:30 AM EDT | Source: Myriad Uranium Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 19, 2024) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that its earn-in partner Rush Rare Metals Corp. ("Rush"), again guided by proprietary data, has acquired the historic Bonanza and Kermac/Day uranium mines at Copper Mountain (See Figure 1 below). Various proprietary documents in Myriad's possession indicate that the Bonanza Mine produced around 780,000 lbs from 30,000 tons of ore at a grade of 1.3% eU3O8, while at the Day Mine, 1,152 tons of ore were mined at grades of between 0.12% and 0.56% eU3O8 in the early 1960's (see Figure 2 below).
"Bonanza-Kermac" aggregates 280 acres, and its acquisition increases the area subject to Myriad's 75% earnable interest under the property option agreement between Myriad and Rush from 3,605 acres to 3,886 acres.
Figure 1: Current Copper Mountain Project Area including Bonanza-Kermac
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6301/206089_47decf06b46b3b87_002full.jpg
Myriad's CEO Thomas Lamb commented, "We continue to add highly prospective acreage at Copper Mountain."
Production during the late 1950's and 1960's from the Bonanza Mine Area came from siltstones of the Wind River Formation overlying the pre-Cambrian basement granitic rocks. Mineralization in these areas formed by basinward migration of uranium in channel sediments with precipitation occurring at roll-front boundaries or fault/hydrocarbon redox areas. The deposit lies downstream of the old Little Mo (Arrowhead) Mine which was the first area of production (around 500,000 lbs U3O8) before final shutdown in 1971 (Figure 2).
Figure 2: Extracts from 1975 and 1968 charts of Copper Mountain
indicating the Bonanza Mine's estimated uranium endowment and grade.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6301/206089_47decf06b46b3b87_003full.jpg
Mineralization in the Kermac/Day Mine Area follows a similar configuration and was investigated by RME as a site for potential shallow uranium mineralization in the late 1970's. Previous production was from Tertiary bentonitic clay sediments overlying the basement granite.
A qualified person (as defined under NI 43-101) has not done sufficient work to classify the historical target estimates reported in this news release as current mineral resources or mineral reserves, and Myriad is not treating the historical target estimates as current mineral resources or mineral reserves. In particular, the Company considers that insufficient work has been done to estimate a resource at the Bonanza-Kermac property and the potential cannot be relied upon until further work is done.
Qualified Person
The scientific or technical information in this news release respecting the Company's Copper Mountain Project has been approved by George van der Walt, MSc., Pr.Sci.Nat., MGSSA, a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. It is based on the Qualified Person's initial review of historical reports which were recently obtained by the Company. The Qualified Person considers the information to be relevant based on the amount and quality of work undertaken and reported historically. However, the information did not include original data such as drilling records, sampling, analytical or test data underlying the information or opinions contained in the written documents. Therefore, the Qualified Person has not reviewed or otherwise verified the information and has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves. A more thorough review of any available original data will be undertaken and reported on in more detail in future releases.
About Myriad Uranium Corp.
Myriad Uranium Corp. is a uranium exploration company with an earnable 75% interest in the Copper Mountain Uranium Project in Wyoming, USA. Copper Mountain hosts several known uranium deposits and historic uranium mines, including the Arrowhead Mine which produced 500,000 lbs of eU3O8. Copper Mountain saw extensive drilling and development by Union Pacific, which developed a mine plan and built a leach pad for one of the deposits at Copper Mountain. Operations ceased in 1980 before mining could commence due to falling uranium prices. Approximately 2,000 boreholes have been drilled at Copper Mountain and the project area has significant exploration upside. Union Pacific is estimated to have spent C$117 million (2023 dollars) exploring and developing Copper Mountain, generating significant historical resource estimates which are detailed here.
Myriad also holds 80% ownership of over 1,800 km2 of uranium exploration licenses in the Tim Mersoi¨ Basin, Niger, with the option to earn up to 100%. These licenses are surrounded by many of the most significant uranium deposits in Africa, including Orano's 384 Mlbs eU3O8 Imouraren, Global Atomic's 236 Mlbs Dasa, and Goviex's 100 Mlbs Madaouela, and on the same fault structures. Myriad also has a 50% interest in the Millen Mountain Property in Nova Scotia, Canada, with the other 50% held by Probe Metals Inc. For further information, please refer to Myriad's disclosure record on SEDAR+ (www.sedarplus.ca), contact Myriad by telephone at +1.604.418.2877, or refer to Myriad's website at www.myriaduranium.com.
Recent interviews with Crux Investor and VSA are here and here. A video overview of the Copper Mountain Project is here.
Myriad Contacts:
Thomas Lamb
President and CEO
tlamb@myriaduranium.com
Forward-Looking Statements
Mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company's properties. This news release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of the Company's mineral properties, the proposed work program on the Company's mineral properties and the potential and economic viability of the Company's mineral properties. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
The CSE has not reviewed, approved or disapproved the contents of this news release.
SOURCE: Myriad Uranium Corp.
Inspiration Energy Options Two Uranium Projects in the Athabasca Basin, Saskatchewan, from Atha Energy .
https://thenewswire.com/press-releases/1Bb4FYVd4-inspiration-energy-options-two-uranium-projects-in-the-athabasca-basin-saskatchewan-from-atha-energy-corp.html
Vancouver, British Columbia, April 23,2024: Inspiration Energy Corp. (the "Company" or "Inspiration") (CSE: ISP) is pleased to announce that it has further expanded its presence in the Athabasca Basin by entering into Option Agreements to acquire a 70% undivided interest in two Uranium properties (the “Plateau Property” and “Ledge Property”) from Atha Energy Corp. (“Atha”). See Figure 1. for a map of Inspiration’s current land holdings in the Athabasca Basin.
Click Image To View Full Size
Figure 1. Map of Inspiration Energy Corp.'s current land holdings in the Athabasca Basin.
The Plateau Property, located in the southeast Athabasca Basin, consists of 9 mineral dispositions totalling 27,252ha (27km2). The Athabasca Basin unconformity-contact crosscuts the southern mineral dispositions of the property, and the sandstone extends northwards to a maximum thickness of 800 metres. The basement rock underlying the Plateau Property consists of mainly Archean felsic gneisses with lesser Archean and Paleoproterozoic supracrustal rocks. See Figure 2. for Plateau Property location map.
Figure 2. Plateau Property location map.
Highlights:
Targeting basement-hosted and unconformity-associated Uranium mineralization.
Property Structural Fabric: Curvilinear NE-trending belt dominated by dome-and-basin-style interference-folding of the Mudjatik Domain overprinted by NE-linear Cable Bay Shear Zone.
Major Structures include Cable Bay Shear Zone, Tabbernor faults, and Mackenzie diabase dykes.
Proximity to Known Mineralization: 1 km from Fleming Island Occurrence (3% U outcrop samples). There are multiple Saskatchewan Mineral Deposit Index showings proximal to the property that include Co, Cu, Zn, and Ni.
Recent Work: XciteTM helicopter-borne time-domain electromagnetic (HTDEM) system flown over entire property in 2023, which defined 73 linear-kilometres of conductors on the property.
XciteTM survey has highlighted coincident magnetic and electromagnetic anomalies within the northwest quadrant of the property that may host northeast trending splay faults of the Cable Bay Shear Zone.
About the Plateau Property:
The Plateau Property is comprised of 9 mineral dispositions encompassing a total land area of 27,252ha (27km2) and is located along the southeast margin of the Athabasca Basin. The property sits adjacent to, and potentially overlies, portions of the conductive Cable Bay Shear Zone that hosts multiple Saskatchewan Mineral Deposit Index (SMDI) occurrences relating to unconformity-associated Uranium mineralization and Mafic-Ultramafic Intrusion-hosted Ni-Cu-(Co-PGE) mineralization. The 4 southernmost mineral dispositions lay partially outside the extent of the Athabasca Basin unconformity contact. The sandstone overlying the remaining mineral dispositions dips downward to the north; the northernmost disposition contains sandstone up to 800m thick.
Future Work Recommendation for the remainder of 2024 through to the end of 2026:
I. Complete drillhole and surficial geochemistry compilation work initiated by Atha.
II. Property-wide airborne gravity survey.
III. Property-wide ground geochemistry/boulder sampling survey.
IV. Ground time-domain electromagnetic (TDEM) and ground DC-IP resistivity surveying over the northern dispositions.
V. Geologic mapping & prospecting over the southern dispositions.
The Ledge Property, located in the northeast Athabasca Basin, consists of 7 mineral dispositions totalling 38,784ha (38km2). The Athabasca Basin unconformity-contact crosscuts the northern mineral dispositions of the property, and the sandstone extends southwards to a maximum thickness of 200 metres. The basement rocks underlying the Ledge Property consist of mainly Archean felsic gneisses with lesser Archean and Paleoproterozoic supracrustal rocks. See Figure 3. For Ledge Property location map.
Click Image To View Full Size
Figure 3. Ledge Property location map.
Highlights:
Targeting basement-hosted and unconformity-associated Uranium mineralization.
Property Structural Fabric: Curvilinear NE-trending belt dominated by dome-and-basin-style interference-folding typical of the Mudjatik Domain.
Major Structures include Tabbernor faults, Mackenzie diabase dykes, and potential extension of the Cable Bay Shear Zone.
Numerous drill holes and boulder sampling has been completed on the property with anomalous Uranium and scintillometer values which have been linked to the granitoids.
Proximity to Known Mineralization: Moosonees Lake Bedrock Uranium Showing on Property ( Surficial Boulder Sample at 0.19% U3O8).
Recent Work: XciteTM helicopter-borne time-domain electromagnetic (HTDEM) system flown over entire property in 2023, which defined 50 linear-kilometres of conductive lineaments.
About the Ledge Property:
The Ledge Property is comprised of 7 mineral licences encompassing a total land area of 38,784ha (38km2) and is located along the northeast margin of the Athabasca Basin. The property potentially overlies portions of the conductive Cable Bay Shear Zone that hosts Saskatchewan Mineral Deposit Index (SMDI) occurrence #1617 relating to Felsic Intrusion-hosted Uranium mineralization with associated Fe, Mo, and Th. The 3 northernmost mineral dispositions of the property lay partially outside the extent of the Athabasca Basin unconformity contact. The sandstone overlying the remaining mineral dispositions dips downward to the south; the southernmost disposition contains sandstone up to 200m thick.
Future Work Recommendation for the remainder of 2024 through to the end of 2026:
I. Complete drillhole and surficial geochemistry compilation work initiated by ATHA Energy Corp.
II. Property-wide airborne gravity survey.
III. Property-wide geologic mapping, prospecting.
IV. Property-wide ground geochemistry/boulder survey.
Charles Desjardins. President and CEO of Inspiration states that “These 2 new, exciting projects we are joint venturing with Atha Energy Corp. dovetail extremely well with our existing portfolio of uranium projects. This new relationship with Atha brings Atha’s foothold and experience in both the Athabasca and Thelon Basins to the table and will provide many exploration synergies for shareholders of Inspiration.”
Terms of the Option Agreements:
In accordance with the terms of the Option Agreements, the Company can earn a 70% undivided interest (subject to underlying 2.0% NSR royalties on each property agreed to by the parties) in the Plateau Property and Ledge Property through the issuance of 4,330,228 common shares of the Company (the “Consideration Shares”) to Atha and incurring a total of $8,000,000 on exploration expenditures broken down as described below. Additionally, Atha is entitled to anti-dilution projection during the option period, such that the number of common shares issuable will be adjusted upwards to maintain a 9.0% shareholder interest upon any issuance of new common shares by the Company out of treasury. The anti-dilution feature will not be triggered by any shares issued upon exercise of outstanding stock options, warrants or other convertible securities.
Plateau Property
Inspiration may exercise the option on the Plateau Property by satisfying all of the following conditions:
Issuing an aggregate of 2,165,114 Consideration Shares to Atha within two (2) business days following regulatory approval at the market price of the common shares of the Company; and
Incurring exploration expenditures on the Plateau Property in the following amounts:
(i) $400,000 by September 1, 2024;
(ii) an additional $400,000 by September 1, 2025;
(iii) an additional $3,000,000 by September 1, 2028; and
This Option Agreement will terminate at Atha’s discretion if Inspiration fails to incur exploration expenditures and issue the Consideration Shares to Atha as set out above or if CSE acceptance is not granted within 35 days of the effective date of the Option Agreement.
Ledger Property
Inspiration may exercise the option on the Ledge Property by satisfying all of the following conditions:
Issuing an aggregate of 2,165,114 Consideration Shares to Atha within two (2) business days following regulatory approval at the market price of the common shares of the Company; and
Incurring Exploration Expenditures on the Ledge Property in the following amounts:
(i) $600,000 by September 1, 2024;
(ii) an additional $600,000 by September 1, 2025;
(iii) an additional $3,000,000 by September 1, 2028; and
This Option Agreement will terminate at Atha’s discretion if Inspiration fails to incur exploration expenditures and issue the Consideration Shares to Atha as set out above or if CSE acceptance is not granted within 35 days of the effective date of the Option Agreement.
NI 43-101 Disclosure
Paul Burry, P.Geo., (APEGS Licence #15000) is a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Burry has reviewed and approved the technical content in this release.
About Inspiration Energy Corp.
Inspiration Energy Corp. is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop properties of merit and to conduct exploration on the Company’s properties.
For more information, please refer to the Company's information available on SEDAR+ (www.sedarplus.ca).
On Behalf of the Board of Directors
Charles Desjardins
Chief Executive Officer, President, and Director
Phone: 604-808-3156
Email: info@inspiration.energy
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions, including with respect to the Company’s ability or intention to complete the Options Agreements, as described above. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR+ in Canada (available at WWW.SEDARPLUS.CA).
Ashley Gold Closes Option Agreement on the Sahara Uranium-Vanadium Property
https://thenewswire.com/press-releases/1k49Fgjpy-ashley-gold-closes-option-agreement-on-the-sahara-uranium-vanadium-property.html
CALGARY, ALBERTA – TheNewswire - April 23, 2024 - Ashley Gold Corp. (CSE:ASHL) (“Ashley” or the “Company”) is pleased to announce that, further to the news release dated March 4, 2024, it has executed a property option agreement dated April 22, 2024 (the “Agreement”) with San Rafael Resources LLC (“San Rafael”) to acquire a 100%-interest in the Sahara uranium-vanadium property, located in Emery County, Utah. (the “Property”).
Darcy Christian, CEO of Ashley comments “This is a defining moment for the Company as Ashley now has line of sight for production cash-flow to continue to develop its existing assets and provide capital for new opportunities. In addition, we have solidified a relationship with San Rafael and Greg Kofford, the Optionor, bringing his capital experience and knowledge to the table. Mr. Kofford is going to be aligned with the shareholders for the long-haul, participating in financings alongside new and existing shareholders, with the intent to grow Ashley into one of the largest public multi-district producers in North America.”
Option Agreement Terms
Under the terms of the Agreement, Ashley has the right to acquire a 100% undivided interest in the Property through staged cash and share payments, plus minimum work expenditures totaling USD $10 million over a three-year period, as summarized below:
4,500,000 Ashley common shares within 30 days of Ashley completing a private placement financing for first stage earn-in. Terms and conditions of the private placement will be disclosed in a future press release when finalized. Ashley previously issued 500,000 common shares to San Rafael as a deposit upon execution of the letter of intent.
1,000m drill program and completion of National Instrument 43-101 Report on the Property within 30 days of the first anniversary
To earn an initial 30% interest to the Property:
issue 18,500,000 common shares; and
pay USD $100,000 cash to San Rafael.
To earn a 50% interest to the Property:
issue 20,000,000 common shares; and
complete expenditures of USD $3,000,000 on the Property.
To earn 100% of the Property:
issue to San Rafael, the greater of 36,500,000 common shares and the number of Ashley common shares that would result in the aggregate number of common shares issued to San Rafael pursuant to the Agreement representing 40% of the issued and outstanding common shares;
pay USD $1,000,000 cash; and
USD $7,000,000 of expenditures on the Property.
In addition to the 100% earn-in, Ashley has agreed to issue additional common shares to San Rafael based on certain economic Uranium Resource identified in a Preliminary Economic Assessment, as follows:
10 million pounds of uranium in Preliminary Economic Assessment – 15,000,000 common shares and USD $500,000; and
30 million pounds of uranium in Preliminary Economic Assessment – 35,000,000 common shares and USD $2,500,000.
Upon completion of the acquisition of a 100% interest in the Property, Ashley will grant a 2% Net Smelter Return Royalty (the “NSR”) to San Rafael. Ashley will have the option to buy back 50% of the NSR for USD $2,000,000 prior to the commencement of commercial production.
As a prerequisite to executing the Agreement, Ashley has entered in to an investor rights agreement with San Rafael which gives San Rafael the right to participate in future financings on equal terms as well as the right to top up their equity position in any dilutive issuance (i.e., convertible securities) at the average 20-day Volume Weighted Average Price to maintain minimum ownership percentage. San Rafael shall also have the right to nominate a director to join the Board of Directors as Chairman upon initial earn-in, subject to regulatory approval.
About the Sahara Property
The Property represents 402 Federal claims and 3 State Claims locate in Emery County Utah. The Property is located 12 miles southwest of Green River, Utah and consists of over 10,000 acres. The region has produced 4,000,000 lbs of Uranium and 5,000,000 lbs of Vanadium with some historical production occuring on the Property until 1980. The Property is located one mile off of the I-70 and is accessed by all weather gravel roads. Water wells are located on the property and power is located less than a mile away to the northeast. In addition, a nearby telecommunicaions tower and fibre optics at the property provide internet and phone access.
The Property has over 900 historical drill holes over the Sahara, Jessies Twist and Acheson discoveries. Mineralization occurs in the Salt Wash Member of the Morrison Formation within fluvial sandstones. Additional targets have been identified with surficial gamma-ray spectrometry readings across the property. In additon, bulk tonnage targets have been identified for drilling as well as the hydrodynamic conditions for roll-front bluesky potential.
Click Image To View Full Size
Figure 1 - Ariel image of the Sahara Uranium-Vanadium Property with respect to Green River, Utah
ABOUT ASHLEY GOLD CORP.
Ashley Gold Corp. is focused on creating substantive, long-term value for its shareholders through the discovery and development of world class gold deposits. Ashley has acquired, 100% of the Tabor Lake Lease subject to a 1.5% royalty, 100% of the Santa Maria Project subject to a 1.75% royalty, 100% interest in the Howie Lake Project subject to a 0.5% royalty, 100% interest in the Alto-Gardnar Project subject to a 0.5% royalty, 100% interest in the Burnthut Property subject to a 1.5% NSR, and an option to earn 100% of the Sakoose claims subject to a 1.5% NSR. In addition, Ashley has entered into a Option to earn 100% of the Sahara Uranium-Vanadium property in Emery County, Utah subject to a 2% NSR.
Ashley Gold Corp. is an early-stage natural resource company engaged primarily in the acquisition, exploration, and if warranted, development of mineral projects. The Corporation’s objective is to conduct efficient and economical exploration on its growing portfolio of high-quality gold projects, currently focused in northwestern Ontario within the Eagle-Wabigoon-Manitou Lakes Greenstone Belts. In addition, Ashley has entered into a LOI to earn 100% of the Sahara Uranium-Vanadium property in Emery County, Utah subject to a 2% NSR.
Qualified Person
The technical and scientific information in this news release has been reviewed and approved by Darcy Christian, P.Geo., President of Ashley, who is a Qualified Person as defined by NI 43-101.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
DISCLAIMER & FORWARD-LOOKING STATEMENTS
This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Ashley Gold Corp. provides no assurance that actual results will meet management’s expectations. Factors which cause results to differ materially are set out in the Company’s documents filed on SEDAR. Undue reliance should not be placed on “forward looking statements”.
Myriad Uranium: Mining Lease Secured at Copper Mountain, Setting the Stage for Future Production
https://www.newsfilecorp.com/release/206309
April 22, 2024 7:30 AM EDT | Source: Myriad Uranium Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 22, 2024) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that its earn-in partner at the Copper Mountain Uranium Project, Rush Rare Metals Corp. ("Rush"), has entered into a 20-year mining lease (the "Lease") with Diamond X Ranch, LLC ("Diamond X") dated April 9, 2024, with automatic extensions if mining is in progress. The area subject to the Lease (see Figure 1 below) forms part of the Copper Mountain Uranium Project, in which Myriad has a 75% earnable interest pursuant to a property option agreement with Rush. With the Lease, the size of the Copper Mountain Uranium Project increases by 320 acres from 3,886 to 4,206 acres.
Figure 1: Copper Mountain area leased from Diamond X
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6301/206309_ea5d38fe14665b63_002full.jpg
Under the Lease, Myriad has paid Diamond X a US$5,000 signing bonus and the first-year property lease payment of US$8,000 (US$25 per acre). Uranium produced from portions of the leased area where Diamond X holds only surface rights will attract a flat 1% royalty on net returns. Uranium produced from areas where Diamond X holds both surface and mineral rights will attract a flat 3% royalty on net returns. "Net returns" means realised proceeds from the sale of uranium less processing, transportation, and some other costs.
The addition of the Diamond X claims is significant, as it completes the picture for the central part of the overall Myriad Uranium claims and secures the eastern portions of the North Canning (Canning) deposit area. The Canning deposit is known to contain between 8.79 Mlbs (at 0.017% eU3O8) and 19.0 Mlbs (at 0.039% eU3O8), as previously reported here, and is the primary target for planned verification work that is to be undertaken during the upcoming summer field season.
Thomas Lamb, Myriad's CEO, said: "This is a critical area at Copper Mountain and we're delighted to conclude a lease with Diamond X for access to it on fair terms. We have reasons to be optimistic that verification of resources and the pathway to uranium production at Copper Mountain could begin sooner than expected, especially if we opt for conventional mining, and it was important to secure this area well in advance. We have been boosted by our recent discovery and reporting of historical high grades (up to 3,850 ppm) and long (up to 291 ft) drill intervals relating to our central Canning Deposit (see our March 5, 2024 news release), which had never been publicly reported. Union Pacific was developing plans to mine Canning and several other deposits within the project area, when prices fell dramatically in the late 1970s. Rising prices raise this prospect to a new level of interest again. Now we have everything we need in terms of mineral and access rights at Canning to verify and restate the historical resources. I'd like to note that Union Pacific never drilled deeper than 183 metres anywhere at Copper Mountain and we believe that significant high grade potential could exist deeper along fault boundaries throughout the project areas. I'll be visiting Copper Mountain in a few weeks with our geologist George van der Walt to locate and examine old holes and plan our summer and fall exploration program there. I look forward to providing investors with an update after our visit."
A qualified person (as defined under NI 43-101) has not done sufficient work to classify the historical resource estimates reported in this news release as current mineral resources or mineral reserves, and Myriad is not treating the historical resource estimates as current mineral resources or mineral reserves.
Qualified Person
The scientific or technical information in this news release respecting the Company's Copper Mountain Project has been approved by George van der Walt, MSc., Pr.Sci.Nat., MGSSA, a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. It is based on the Qualified Person's initial review of historical reports which were recently obtained by the Company. The Qualified Person considers the information to be relevant based on the amount and quality of work undertaken and reported historically. However, the information did not include original data such as drilling records, sampling, analytical or test data underlying the information or opinions contained in the written documents. Therefore, the Qualified Person has not reviewed or otherwise verified the information and has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves. A more thorough review of any available original data will be undertaken and reported on in more detail in future releases.
About Myriad Uranium Corp.
Myriad Uranium Corp. is a uranium exploration company with an earnable 75% interest in the Copper Mountain Uranium Project in Wyoming, USA. Copper Mountain hosts several known uranium deposits and historic uranium mines, including the Arrowhead Mine which produced 500,000 lbs of eU3O8. Copper Mountain saw extensive drilling and development by Union Pacific, which developed a mine plan and built a leach pad for one of the deposits at Copper Mountain. Operations ceased in 1980 before mining could commence due to falling uranium prices. Approximately 2,000 boreholes have been drilled at Copper Mountain and the project area has significant exploration upside. Union Pacific is estimated to have spent C$117 million (2023 dollars) exploring and developing Copper Mountain, generating significant historical resource estimates which are detailed here.
Myriad also holds 80% ownership of over 1,800 km2 of uranium exploration licenses in the Tim Mersoi¨ Basin, Niger, with the option to earn up to 100%. These licenses are surrounded by many of the most significant uranium deposits in Africa, including Orano's 384 Mlbs eU3O8 Imouraren, Global Atomic's 236 Mlbs Dasa, and Goviex's 100 Mlbs Madaouela, and on the same fault structures. Myriad also has a 50% interest in the Millen Mountain Property in Nova Scotia, Canada, with the other 50% held by Probe Metals Inc. For further information, please refer to Myriad's disclosure record on SEDAR+ (www.sedarplus.ca), contact Myriad by telephone at +1.604.418.2877, or refer to Myriad's website at www.myriaduranium.com.
Recent interviews with Crux Investor and VSA are here and here. A video overview of the Copper Mountain Project is here.
Myriad Contacts:
Thomas Lamb
President and CEO
tlamb@myriaduranium.com
Forward-Looking Statements
Mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company's properties. This news release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of the Company's mineral properties, the proposed work program on the Company's mineral properties and the potential and economic viability of the Company's mineral properties. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
The CSE has not reviewed, approved or disapproved the contents of this news release.
SOURCE: Myriad Uranium Corp.
Baselode to Begin Bear Uranium Project Drill Program and Updates on Catharsis
https://www.newsfilecorp.com/release/205776
April 17, 2024 6:00 AM EDT | Source: Baselode Energy Corp.
1,500 metre inaugural Bear drill program scheduled to start in coming weeks
Catharsis drill program is complete, with results to be released when assays received
Toronto, Ontario--(Newsfile Corp. - April 17, 2024) - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to provide updates for its Bear ("Bear") and Catharsis ("Catharsis") uranium projects in the Athabasca Basin area, northern Saskatchewan (see Figure 1).
"This is an exciting time as we begin our inaugural drill exploration program on Bear. The geology looks compelling, with an apparent regional structure hosting uranium mineralization already being identified with historic drilling and overlapping geophysical gravity low anomalies associated with bends in EM conductors. A discovery at Bear would be fortuitous as it is located about 30 kilometres south of the Key Lake uranium mill, and 10 kilometres east of the Key Lake haul road.
"We're also pleased to announce that we completed our second drill program on Catharsis, testing six target areas. We're encouraged by the results from three target areas, which require additional follow-up exploration. Full detailed results for Catharsis will be made available after all of the assays have been received and interpreted by the Company," stated James Sykes, CEO, President, and Director of Baselode.
Bear Program Details
The Bear drill program is planned for 1,500 metres with 6 to 8 drill holes targeting 3 to 4 different target areas. The field crew has already commenced logistical support for Bear, and the drill crew are scheduled to be on-site within two weeks. The helicopter-support program allows expedient drill targeting and lessens any ground impacts on the environment. The Company has received the necessary permits to complete the program.
In addition to the drill program, a low altitude, high-resolution airborne radiometric and magnetic survey was completed on Bear in March. Final results have yet to be received but are expected prior to the start of the drill program.
Catharsis Program Details
A total of 11 drill holes were completed for 2,837 metres covering six different target areas. In addition to previously announced results (see News Release dated March 4, 2024), the Company intersected encouraging hydrothermal alteration and structures in two additional target areas. Baselode will release a detailed news release and video after all the assay results have been received and interpreted by the Company.
In addition to the drill program, a low altitude, high-resolution airborne radiometric and magnetic survey was completed on Catharsis in April.
About Baselode Energy Corp.
Baselode controls 100% of approximately 272,804 hectares for exploration in the Athabasca Basin area of northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.
The Company discovered the ACKIO near-surface, uranium prospect in September 2021. ACKIO measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 9 separate uranium Pods, with mineralization starting as shallow as 28 m and 32 m beneath the surface in Pods 1 and 7, respectively, and down to approximately 300 m depth beneath the surface with the bulk of mineralization occurring in the upper 120 m. ACKIO remains open at depth, and to the north, south and east.
Baselode's Athabasca 2.0 exploration thesis focuses on discovering near-surface, basement-hosted, high-grade uranium orebodies outside the Athabasca Basin. The exploration thesis is further complemented by the Company's preferred use of innovative and well-understood geophysical methods to map deep structural controls to identify shallow targets for diamond drilling.
QP Statement
The technical information contained in this news release has been reviewed and approved by Cameron MacKay, P.Geo., Vice-President, Exploration & Development for Baselode Energy Corp., who is considered to be a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
For further information, please contact:
James Sykes, CEO, President and Director
Baselode Energy Corp.
jsykes@oregroup.ca
306-221-8717
www.baselode.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release.
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Baselode Energy Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Baselode Energy Corp. Additional information identifying risks and uncertainties is contained in the Company's filings with Canadian securities regulators, which filings are available under Baselode Energy Corp. profile at www.sedarplus.ca.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
FIGURE 1 — Baselode projects location map. ACKIO uranium prospect identified with yellow circle.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/205776_baselode.jpg
SOURCE: Baselode Energy Corp.
Victory Battery Metals Options Kachiwiss Uranium Project and Other Uranium Anomalies
https://www.accesswire.com/854310/victory-battery-metals-corp-options-kachiwiss-uranium-project-and-other-uranium-anomalies
Thursday, 18 April 2024 07:00 AM
VANCOUVER, BC / ACCESSWIRE / April 18, 2024 / VICTORY BATTERY METALS CORP. (CSE:VR)(OTC PINK:VRCFF)(FWB:VR6) is pleased to announce that it has entered into an option agreement dated April 11, 2024 to acquire 100% interest in four claim groupings in the Sept Iles region of Quebec. These claims are being optioned from GLOBEX MINING ENTERPRISES INC. (GMX - Toronto Stock Exchange, G1MN - Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exchangesand GLBXF - OTCQX International in the US). Under terms of the agreement Victory will pay to Globex $400,000 in cash and 1,500,000 Victory shares over 3 years. In addition, Victory commits to execute a work program of a minimum of $3,000,000 on the claims over a 4-year period.
The claims cover the Kachiwiss Uranium deposit with a reported historical, 1978 non-Ni 43-101, compliant, non-classified resource of 16,598,000 tonnes grading 0.016% U3O8 within a pegmatic dyke oriented NW45o. The zone, as currently defined, measures 975 metres long by 610 metres to 760 metres wide and is open. Historical metallurgical test work suggested recoveries of up to 92.9% can be achieved 1. The same report mentions the presence of thorium in the region, In addition to the Kachiwiss deposit, the option includes a large package of claims covering lake bottom sediment sample uranium anomalies farther to the north. In total, 156 mining claims make up the package with Globex retaining a 10-kilometre area of mutual interest surrounding the current claim blocks.
Under the agreement, Globex also retains a 3% Gross Metal Royalty on all metals, minerals, elements or compounds including but not limited to uranium, thorium or any other marketable product from the claims. Victory may, at anytime, purchase 1% GMR from Globex for a single cash payment of $1,000,000.
Mr. Mark Ireton, Victory President and CEO noted "This is the first meaningful uranium acquisition of such that will position the company in both battery metals and energy metals spaces. We at Victory Battery Metals are excited by the potential this property holds. Uranium is a proven source of clean cheap power and advanced research into thorium is emerging a primary source of power for the future Located in the mining friendly province of Quebec, the project is in a region known for its deep-water port, its excellent infrastructure, and a labor pool strongly rooted in the mining industry."
Quebec Government Sigeom - Lac Kachiwiss File CGM 22J/01.001 - Oct 21/2011.
Scientific and technical information contained in this press release was reviewed and approved by Mr. Réjean Girard, Quebec Geologist, P.Geo (OGQ 521) and a "qualified person" under NI 43-101.
About Victory Battery Metals Corp.
VICTORY BATTERY METALS CORP. (CSE: VR) is a publicly traded diversified investment corporation with mineral interests in North America. The company is also actively seeking other exploration opportunities.
For further information, please contact:
Mark Ireton, President
Telephone: +1 (236) 317 2822 or TOLL FREE 1 (855) 665-GOLD (4653)
E-mail: info@victorybatterymetals.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE: Victory Battery Metals Corp.
Aero Energy/Standard Uranium Report on Recent Exploration Insights at the Sun Dog Project with Option Partner Aero Energy Ltd.
https://ca.finance.yahoo.com/news/standard-uranium-reports-recent-exploration-113000951.html
Standard Uranium Ltd.
Tue, April 16, 2024 at 4:30 a.m. PDT·11 min read
AAUGF
-8.89%
STTDF
-0.36%
Sun Dog is host to globally significant former uranium producer.
VANCOUVER, British Columbia, April 16, 2024 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to provide a comprehensive summary of exploration insights and historical data gathered at its Sun Dog Uranium Project (“Sun Dog”, or the “Project”), currently under a three-year earn-in option agreement with Aero Energy Ltd. (“Aero”) (TSX-V: AERO).
Highlights:
History of Production: The project hosts the historical Gunnar Mine which produced 18M pounds of U3O8 between 1953 and 1981 and was formerly the world’s largest uranium producer1,2.
Uranium Above and Below the Unconformity: Numerous historical high-grade* uranium showings ranging between 0.10% and 12.39% U3O8 have been documented at surface3,4. These showings occur in both basement rocks below the Unconformity and perched within Athabasca sandstones above the Unconformity thus confirming the presence of unconformity-related high-grade uranium on the Sun Dog Project.
Radioactivity at the Unconformity: Prospecting conducted by Standard Uranium has identified anomalous** to strong radioactivity ranging between 500 cps and >65,535 cps immediately associated with sandstone and basement faults, and along the surface expression of the Unconformity at multiple target areas providing further compelling support for the high prospectivity of the Sun Dog Project.
Favorable Host Rocks: An airborne VTEM™ Plus survey is currently underway designed to pinpoint graphitic rocks (conductors) favourable for hosting significant concentrations of uranium. This modern electromagnetic (“EM”) survey will infill and improve upon historical surveys which have identified at least 40 km of combined conductor strike length.
Target Development & Drilling: The results of the VTEM™ Plus survey will be subject to geophysical interpretation and modelling, and integrated with the Project’s existing datasets, to select and prioritize targets for the upcoming summer drill program scheduled to begin in early June.
Jon Bey, CEO of Standard Uranium, commented: “We are thrilled to return to the Sun Dog Project and continue advancing our exploration strategy targeting prospective high-grade uranium targets. The 2024 exploration program will leverage the results of the modern VTEM™ Plus survey currently underway, in addition to the combined uranium expertise of our joint technical team with partners at Aero Energy. The summer of 2024 will be an exciting time for active exploration in the Uranium City region and we are eager to get our drills spinning.”
Galen McNamara, CEO of Aero Energy, commented: “The Sun Dog Project is highly prospective for shallow high-grade uranium mineralization and is largely underexplored. The VTEM™ Plus survey covering both the Sun Dog and Murmac projects is nearing completion, and we expect the results to identify a significant number of high-priority drill targets for follow-up during our planned drill program scheduled to begin in early June. We look forward to sharing target information more specifically in the coming weeks as we advance towards our maiden drilling program”.
Uranium mineralization in Athabasca Group sandstone above the Unconformity on Stewart Island with radioactivity exceeding 65,535 counts-per-second.
Figure 1. Uranium mineralization in Athabasca Group sandstone above the Unconformity on Stewart Island with radioactivity exceeding 65,535 counts-per-second.
Sun Dog Project Overview and Historical Exploration:
The Project is currently under option (the “Option”) to Aero Energy Ltd. (the “Optionee”) an arms-length company (TSX-V: AERO). Pursuant to the Option Agreement, the Optionee will be granted the option to acquire 100% of the Project located along the northwestern edge of the Athabasca Basin, by funding C$6.5 million in exploration expenditures over a three-year period, making cash payments totalling C$650,000, and issuing C$650,000 in common shares, over a 2-year period. Following exercise of the Sun Dog Option, Standard will retain a 2% net smelter returns royalty, which may be reduced to 1% for a $1,000,000 cash payment.
The Project covers an area of 48,443 acres in nine mining claims, located 15 km from Uranium City on the northern margin of the Athabasca Basin. It hosts the historical Gunnar Uranium Mine, discovered in 1952, which doubled Canada’s uranium production and became the largest uranium producer globally in 1956. The Gunnar Mine produced approximately 18M lbs of U3O8 between 1953 and 19811,2.
During this time exploration efforts in the area primarily focused on “Beaverlodge-style” deposits, typically lower-grade, fault-hosted mineralization visible at the surface. This approach did not target, and would not have been effective for, the high-grade "Unconformity-related" basement-hosted deposits associated with graphitic rocks more recently discovered near the Athabasca Basin's edge (e.g. Arrow, Triple R).
These deposits are associated with graphite-rich rocks, evident as electromagnetic (EM) conductors in geophysical surveys. These graphite-rich rocks, softer than surrounding quartzite and granitoid lithologies, are not exposed at the surface. Instead, they are found in deeply weathered valleys, concealed by glacial till, soil and small lakes. The historical exploration methods applied included airborne radiometric and surface prospecting, identifying radioactive anomalies and drill testing their extents. This approach is not effective for this type of basement-hosted mineralization.
With only limited previous drilling, the extensive (>40 km strike length) conductors targeted at Sun Dog remain largely unexplored, offering significant potential for future discovery (Figure 2).
Selected uranium occurrences and known EM-conductors present on the Sun Dog Project
Figure 2: Selected uranium occurrences and known EM-conductors present on the Sun Dog Project
Preliminary Modern Exploration
Recent exploration efforts by Standard Uranium have focused on the most promising historical target areas, namely Skye, Java, and Stewart Island, testing down-dip extensions of structures hosting uranium at surface with the aim of discovering high-grade unconformity mineralization and basement “roots” of the mineralizing systems underlying the Athabasca sandstones.
Prospecting & Surface Exploration
In the fall of 2020, crews collected 56 outcrop grab samples, 6 boulder samples, and 14 historical core samples from the Project. These were primarily collected from mineralized target areas and from historical drill holes completed by former operators of the project.
Prospecting led to the discovery of a new high-grade uranium showing named the Haven discovery and several zones of visible uranium mineralization at surface that returned uranium assay results of 3.58% U3O8, 1.7% U3O8, and 0.7% U3O8.
Additionally, the analytical results revealed a correlation between uranium and gold, while boron and other pathfinder elements highlighted the potential for a robust alteration footprint associated with uranium mineralization. Surficial grab samples from faults and veins cutting sandstone outcrop returned high concentrations of dravite (up to 75%), a uranium pathfinder mineral commonly associated with uranium-fertile systems.
In the summer of 2022, Standard Uranium executed a field mapping and prospecting program to expand upon the results of the 2020 prospecting program. Scintillometers were used to track radioactivity with more than 80 new mineralized boulder and bedrock locations discovered on Johnston and Stewart islands.
The expanded surface expression of mineralization on south Johnston Island displayed scintillometer readings >10,000 cps and locally off-scale (>65,535 cps) and the historical mineralized surface occurrences on Stewart Island were confirmed with scintillometer measurements ranging from >500 cps to >65,535 cps. Radioactivity measurements were collected with hand-held RS-121 or RS-125 scintillometers. These occurrences provide compelling support for the presence of high-grade unconformity-associated uranium mineralization on the project.
Gravity and Magnetic Surveys
In the winter of 2022, MWH Geo-Surveys Ltd. carried out a ground gravity survey and UAV-borne magnetic surveys in the areas of Johnston and Stewart islands on behalf of Standard Uranium.
The gravity survey consisted of 3,388 unique gravity measurement stations and 155 repeat stations with a station spacing of 50 to 100 m. The survey identified several variations in residual gravity and outlined multiple gravity low target areas on and around Stewart and Johnston islands.
The magnetic survey consisted of 572 line-kilometres of UAV magnetics at a line spacing of 50 m. Flightlines were flown either southeast or northwest at an elevation of approximately 48 m above ground level. The survey effectively mapped magnetic variations corresponding to changes in lithology and alteration which assisted in drill targeting.
First Pass Drilling
Standard Uranium carried out two drill programs on the Project during the winters of 2022 and 2023. In total 2,469 m of diamond drilling was completed across fourteen drill holes (Figure 3).
Drilling focused on testing for zones of high-grade unconformity-related uranium mineralization with targets identified based on the ground gravity and UAV magnetic data, lakebed radiometric anomalies, and resistivity lows, all coincident with cross-cutting faults and historical surface mineralization. Several gravity low anomalies have been identified and coincide with breaks or flexures in electromagnetic conductors under Athabasca sandstone cover, interpreted to potentially represent zones of strong alteration in bedrock, specifically clay alteration, commonly associated with the footprint of high-grade uranium deposits.
The 2022 and 2023 diamond drill programs were successful in identifying key geological characteristics prospective for significant uranium mineralizing systems on the Project, which in turn will aid in planning and prioritization of additional exploration targets for follow-up drill programs.
Drilling highlights include5:
Widespread hydrothermal alteration zones containing illite-rich and dravitic clays and abundant iron-oxide minerals intersected in multiple drill holes, indicating a robust fluid system with prospective chemistry for uranium.
Significant structural influence evidenced to control high-grade uranium mineralization and anomalous radioactivity in drill holes.
Reactivated graphitic shear zones & quartz-hematite breccias intersected over 10s of metres in several drill holes indicate ideal structural regime providing the plumbing system for uranium mobilization.
Favorable geochemistry returned in multiple drill holes, including prospective clay spectroscopy results (dravite), elevated pathfinder elements, and anomalous uranium correlated to lead isotope ratios which may be used as an additional exploration vector.
Elevated radioactivity over a total of 1.5 metres up to 1,300 cps*** intersected in drill hole SD-23-013 at the Haven discovery. Assay highlights include 0.042 wt.% U308 from 79.0 to 79.5 m and 0.021 wt.% U308 from 79.5 to 80.0 m.
Historical and Standard Uranium Drill Holes with Target Areas on the Sun Dog Project
Figure 3. Historical and Standard Uranium Drill Holes with Target Areas on the Sun Dog Project
*The Company considers uranium mineralization with concentrations greater than 1.0 wt% U3O8 to be “high-grade”.
** The Company considers radioactivity readings greater than 300 counts per second (cps) to be “anomalous”.
***Natural gamma radiation in diamond drill core reported in this news release was measured in counts per second (cps) using a handheld RS-125 super-spectrometer and verified using a down-hole Mount Sopris 32GR slim gamma probe. The 32GR gamma probe has been calibrated to optimize the probe for uranium exploration logging and estimating weight percent U3O8 content. Readers are cautioned that scintillometer and gamma probe readings are not uniformly or directly related to uranium grades of the rock sample measured and should be treated only as a preliminary indication of the presence of radioactive minerals. All drill hole intersections are measured down-hole. Core interval measurements and true thicknesses are yet to be determined.
The scientific and technical information contained in this news release has been reviewed, verified, and approved by Sean Hillacre, P.Geo., President and VP Exploration of the Company and a “qualified person” as defined in NI 43-101.
Historical data disclosed in this news release relating to sampling results on the Sun Dog Project is historical in nature. Neither the Company nor a qualified person has yet verified this data and therefore investors should not place undue reliance on such data. The Company’s future exploration work will include verification of the data. The Company considers historical results to be relevant as an exploration guide and to assess the mineralization as well as economic potential of the Project.
About Standard Uranium (TSX-V: STND)
We find the fuel to power a clean energy future
Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in the world’s richest uranium district. The Company holds interest in over 209,867 acres (84,930 hectares) in the world-class Athabasca Basin in Saskatchewan, Canada. Since its establishment, Standard Uranium has focused on the identification, acquisition, and exploration of Athabasca-style uranium targets with a view to discovery and future development.
Standard Uranium has successfully completed four joint venture earn in partnerships on their Sun Dog, Canary, Atlantic and Ascent projects totaling over $31M in work commitments over the next three years from 2024-2027.
Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, comprises ten mineral claims over 30,737 hectares. Davidson River is highly prospective for basement-hosted uranium deposits due to its location along trend from recent high-grade uranium discoveries. However, owing to the large project size with multiple targets, it remains broadly under-tested by drilling. Recent intersections of wide, structurally deformed and strongly altered shear zones provide significant confidence in the exploration model and future success is expected.
Standard Uranium’s eight eastern Athabasca projects comprise thirty mineral claims over 32,838 hectares. The eastern basin projects are highly prospective for unconformity related and/or basement hosted uranium deposits based on historical uranium occurrences, recently identified geophysical anomalies, and location along trend from several high-grade uranium discoveries.
Standard Uranium's Sun Dog project, in the northwest part of the Athabasca Basin, Saskatchewan, is comprised of nine mineral claims over 19,603 hectares. The Sun Dog project is highly prospective for basement and unconformity hosted uranium deposits yet remains largely untested by sufficient drilling despite its location proximal to uranium discoveries in the area.
For further information contact:
Jon Bey, Chief Executive Officer, and Chairman
Suite 918, 1030 West Georgia Street
Vancouver, British Columbia, V6E 2Y3
Tel: 1 (306) 850-6699
E-mail: info@standarduranium.ca
References
Gunnar Uranium Mine: From Cold War Darling to Ghost Town, L. Schramm, Saskatchewan Research Council, 2018.
Geology and Genesis of Major World Hardrock Uranium Deposits, United States Geological Survey, Open-File Report 81-166, 1981.
2022 Winter Mineral Assessment Report, Sun Dog Property, Northern Saskatchewan, Canada, Standard Uranium, 2022
Information obtained from Saskatchewan Mineral Deposit Index, occurrence number 1254
Standard Uranium News Release, November 2, 2023
Cautionary Statement Regarding Forward-Looking Statements
This news release contains “forward-looking statements” or “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements include, but are not limited to, statements regarding: the timing and content of upcoming work programs; geological interpretations; timing of the Company’s exploration programs; and estimates of market conditions.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements are highlighted in the “Risks and Uncertainties” in the Company’s management discussion and analysis for the fiscal year ended April 30, 2023.
Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company’s actual financial results, performance, or achievements to be materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop forward-looking statements include, without limitation: that the transaction with the Optionee will proceed as planned; the future price of uranium; anticipated costs and the Company’s ability to raise additional capital if and when necessary; volatility in the market price of the Company’s securities; future sales of the Company’s securities; the Company’s ability to carry on exploration and development activities; the success of exploration, development and operations activities; the timing and results of drilling programs; the discovery of mineral resources on the Company’s mineral properties; the costs of operating and exploration expenditures; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); uncertainties related to title to mineral properties; assessments by taxation authorities; fluctuations in general macroeconomic conditions.
The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/786d0c9d-2c6f-47b9-b684-b63a493fb127
https://www.globenewswire.com/NewsRoom/AttachmentNg/4520e482-a137-41b0-b8df-6c5ce8dc0073
https://www.globenewswire.com/NewsRoom/AttachmentNg/b724b55c-4887-4a90-a854-164bd98b14a2
F3 Intersects Radioactivity Across Multiple Zones Uncovers Significant and Favorable Reverse Faulting at B1
https://www.newsfilecorp.com/release/205638
April 16, 2024 4:25 AM EDT | Source: F3 Uranium Corp.
Kelowna, British Columbia--(Newsfile Corp. - April 16, 2024) - F3 Uranium Corp (TSV: FUU) (OTCQB: FUUFF)
Myriad Uranium: Guided by Historical Data Trove, Myriad Acquires the 'Midnight Prospect' at Copper Mountain
https://www.newsfilecorp.com/release/205441
April 15, 2024 7:30 AM EDT | Source: Myriad Uranium Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 15, 2024) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that Myriad and its earn-in partner Rush Rare Metals Corp. ("Rush") have acquired by staking a new area identified in proprietary historical data as "The Midnight Prospect" or "Midnight" (see Figure 1 below). The historical data indicate that Midnight is highly prospective and may potentially contain up to 10 Mlbs eU3O8 according to earlier reports by Rocky Mountain Energy Corp ("RME"), a subsidiary of Union Pacific, and a map from a 1991 Anaconda report (see Figure 2 below). Rush's CEO Peter Smith recently visited the Midnight Prospect. A video of his visit can be viewed here.
Midnight aggregates 798 acres, and its acquisition increases the area subject to Myriad's 75% earnable interest under the property option agreement between Myriad and Rush (see Myriad's news release dated October 20, 2023 for further details) by 28%, from 2,807 acres to 3,605 acres.
Figure 1: Current Copper Mountain Project Area including the newly acquired Midnight Prospect
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6301/205441_f991f3c78498e935_002full.jpg
Previous work by RME (December 1979 report) indicated that both the granite and Tertiary sediments of the area are favourable source rocks from which uranium could be leached. Stream sediment sampling delineated several zones with anomalous uranium content that warrant further work. Structural preparation of the area is of a magnitude that would permit significant quantities of uranium to be leached, transported and concentrated in a reducing environment. Pyrite, the primary reducing agent for uranium, is present in most of the drill holes in the area and, along with the presence of hydrocarbons, indicates that an adequate reducing environment existed to precipitate uranium.
Initial drilling by RME intercepted trace to very low-grade mineralization; however only a very small portion of the Midnight Fault zone has been tested. The structural preparation, oxidation/alteration profile and presence of adequate reductant should be considered favourable elements for Canning-type mineralization, which RME concluded could represent a target of up to 10 million pounds eU3O8.
Figure 2: Midnight claims (red rectangle) on a map from a 1991 Anaconda report indicating the Midnight Prospect, which potentially contains up to 10 Mlbs eU3O8. (Confidential information redacted.).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6301/205441_f991f3c78498e935_003full.jpg
Myriad's CEO, Thomas Lamb, commented, "Midnight is the latest in a series of expansions we have planned, guided by our proprietary non-digital historical data set which indicates an array of uranium deposits and prospects in the Copper Mountain district. This data set was the product of C$117 million (2023$) in spending by Union Pacific in the 1970s. They drilled around 2,000 boreholes at Copper Mountain, discovering at least six uranium deposits and a significant number of highly prospective targets which they were not able to follow up. They believed just two of the six or more uranium deposits they identified at Copper Mountain have the potential to host up to 63.8 Mlbs of uranium. The potential of the entire district could be significantly greater."
Mr. Lamb continued, "Union Pacific did conduct surface work and limited drilling at Midnight but their resource estimates of between 15 and 30 million pounds for the Copper Mountain area, which we published in November 2023, did not take Midnight into account. Instead, Midnight was slated for future exploration and verification, but this was cut short by fast-falling uranium prices after 1979's Three Mile Island. The uranium-bearing structures at Copper Mountain were quite well understood by Union Pacific and we believe that they had a strong basis for their assessment of Midnight's potential. In a recent news release we discussed 82 historical boreholes at the "High Grade Area" within the Canning Deposit at Copper Mountain. The insights from those holes, and the very long mineralised intercepts encountered there of up to 291 feet and high grades up to 3,850 ppm, bolster our confidence that we can pursue high grades and big volumes across Copper Mountain, including Midnight and many other new areas, not just the areas Union Pacific included in its resource estimates that we previously reported. Union Pacific was only just starting to concern itself with the high grade in the structures when they paused. We're now going to really focus on them and look for high grade deeper than they did, since they never drilled deeper than roughly 183 metres. There is much more to come. Please stay tuned."
A qualified person (as defined under NI 43-101) has not done sufficient work to classify the historical target estimates reported in this news release as current mineral resources or mineral reserves, and Myriad is not treating the historical target estimates as current mineral resources or mineral reserves. In particular, the Company considers that insufficient work has been done to estimate a resource at the Midnight property and the potential cannot be relied upon until further work is done.
Qualified Person
The scientific or technical information in this news release respecting the Company's Copper Mountain Project has been approved by George van der Walt, MSc., Pr.Sci.Nat., MGSSA, a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. It is based on the Qualified Person's initial review of historical reports which were recently obtained by the Company. The Qualified Person considers the information to be relevant based on the amount and quality of work undertaken and reported historically. However, the information did not include original data such as drilling records, sampling, analytical or test data underlying the information or opinions contained in the written documents. Therefore, the Qualified Person has not reviewed or otherwise verified the information and has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves. A more thorough review of any available original data will be undertaken and reported on in more detail in future releases.
About Myriad Uranium Corp.
Myriad Uranium Corp. is a uranium exploration company with an earnable 75% interest in the Copper Mountain Uranium Project in Wyoming, USA. Copper Mountain hosts several known uranium deposits and historic uranium mines, including the Arrowhead Mine which produced 500,000 lbs of eU3O8. Copper Mountain saw extensive drilling and development by Union Pacific, which developed a mine plan and built a leach pad for one of the deposits at Copper Mountain. Operations ceased in 1980 before mining could commence due to falling uranium prices. Approximately 2,000 boreholes have been drilled at Copper Mountain and the project area has significant exploration upside. Union Pacific is estimated to have spent C$117 million (2023 dollars) exploring and developing Copper Mountain, generating significant historical resource estimates which are detailed here.
Myriad also holds 80% ownership of over 1,800 km2 of uranium exploration licenses in the Tim Mersoi¨ Basin, Niger, with the option to earn up to 100%. These licenses are surrounded by many of the most significant uranium deposits in Africa, including Orano's 384 Mlbs eU3O8 Imouraren, Global Atomic's 236 Mlbs Dasa, and Goviex's 100 Mlbs Madaouela, and on the same fault structures. Myriad also has a 50% interest in the Millen Mountain Property in Nova Scotia, Canada, with the other 50% held by Probe Metals Inc. For further information, please refer to Myriad's disclosure record on SEDAR+ (www.sedarplus.ca), contact Myriad by telephone at +1.604.418.2877, or refer to Myriad's website at www.myriaduranium.com.
Recent interviews with Crux Investor and VSA are here and here. A video overview of the Copper Mountain Project is here.
Myriad Contacts:
Thomas Lamb
President and CEO
tlamb@myriaduranium.com
Forward-Looking Statements
Mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company's properties. This news release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of the Company's mineral properties, the proposed work program on the Company's mineral properties and the potential and economic viability of the Company's mineral properties. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
The CSE has not reviewed, approved or disapproved the contents of this news release.
SOURCE: Myriad Uranium Corp.
Forum Energy: Ambient Noise Tomography Survey Establishes New Drill Targets over 1+ km Extension Along the Tatiggaq Fault Zone, Aberdeen Uranium Project, Nunavut
https://www.newsfilecorp.com/release/205494
April 15, 2024 7:00 AM EDT | Source: Forum Energy Metals Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 15, 2024) - Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") has reviewed initial data processed from its Ambient Noise Tomography (ANT) survey conducted over the Tatiggaq anomaly during the summer of 2023, The survey successfully established new drill targets over a one plus kilometer east-northeast extension along the Tatiggaq fault zone, which hosts the high-grade Tatiggaq uranium discovery at Forum's 100% owned Aberdeen Project in the Thelon Basin, Nunavut. The Aberdeen project comprises 95,500 hectares and is located adjacent to Orano's 133 million pound Kiggavik uranium project* (Figure 1).
Dr. Rebecca Hunter, Forum's VP, Exploration commented, "The ANT survey may be a game-changing geophysical method for targeting unconformity systems in the northeast Thelon Basin. By measuring the velocity change interfaces throughout our anomalies, we can potentially image the faults that host the mineralization and the location of the mineralized bodies themselves. The survey results obtained suggest we will be able to target our drilling with a much higher degree of precision than what could be done in the past. I am very excited to resume on our Aberdeen Project in 2024."
HIGHLIGHTS
New ANT survey data has potentially imaged the depth and location of the metasedimentary bodies that host the mineralization.
The steep-dipping ore controlling structures have been imaged by the ANT survey and will help greatly with targeting throughout the anomaly both along strike but also along sub-parallel structures.
The ANT survey suggests that potential additional mineralized bodies to the east-northeast are at similar depth to the known mineralization to date (<200 m).
ANT surveys were also conducted on both the Ned and Bjorn anomalies and are currently being processed with results expected by June.
Tatiggaq Deposit
Forum drilled four holes in 2023 and the first two holes targeted the Tatiggaq Main area. The objective was to drill through to main mineralized zone at a more optimal angle and show that the mineralization is within a series of steep-dipping, high-grade lenses. TAT23-001 was lost and TAT23-002 intersected 2.25% U3O8 over 11.1 from 148.5 to 159.6 m (incl. 3.32% U3O8 over 3.1 m). TAT23-003 and TAT23-004 were drilled along trend to the SW up to 200 m from TAT23-001/-002. These holes were designed to infill and expand known areas of mineralization at Tatiggaq West. TAT23-003 intersected 0.40% U3O8 over 12.8 m from 136.0 to 148.8 m (incl. 1.08% U3O8 over 1.3 m) and TAT23-004 intersected 0.40% U3O8 over 18.9 m from 151.4 to 170.3 m (incl. 1.01% U3O8 over 6.2 m).
Mineralization within the Tatiggaq deposit consists of two zones - the Main and West Zones and is located at depths between 80 and 180 m. The mineralization is hosted in a series of high-grade subparallel, steep, south-dipping fault zones that sit within a 50 m wide area (Figure 2). Individual high-grade mineralized structures are up to 10 m in width. The strike extent of the Main Zone is at least 60 m but is open to the northeast and the West Zone is now 150 m in strike length and is open to the southwest. Further delineation is required between the two zones to determine if they are connected. In addition, the entire 0.7 km wide by 1.5 km long Tatiggaq gravity anomaly remains open for additional uranium mineralization both along strike of the known zones but also along numerous sub-parallel fault zones to the north and south.
Ambient Noise Tomography Survey (ANT)
The ANT survey is a passive seismic technique that detects seismic waves by natural sources like ocean wave action that is then used to image the subsurface.
In 2023, Patterson Geophysics Inc. (PGI) was contracted to deploy and recover a total of 475 seismic 1D Nodular Recording Units (NRUs) over the Tatiggaq (Figure 3), Ned and Bjorn grids. Geophysical Technology Inc. NuSeis NRUN1 autonomous seismic nodal recording units were used for the survey. In total, 475 NRUs were deployed in three (3) grid areas on the Aberdeen Project in July 2023. 344 NRUs were deployed on the Tatiggaq grid at 60 m intervals; 77 NRUs were deployed on the Ned grid at 150 m intervals, and 54 NRUs were deployed on the Bjorn grid at 150 m intervals. The PGI crew returned to the Thelon project to retrieve the NRUs after a recording period of 24-26 days. The data was downloaded from the NRUs using GTI's Portable Data Management system and a GTI-supplied laptop with NuSite, NuSeis, and NuScribe software.
Ongoing data processing is being completed by Ambient Reservoir Monitoring Inc. (ARM) through the direction of Kyle Patterson at Convolutions Geoscience. A preliminary 3D slice of the processed velocity data is shown for the Tatiggaq Grid (Figure 4).
*Source: Areva Resources Canada Inc., The Kiggavik Project, Project Proposal, November 2008 and Kiggavik Popular Summary, April, 2012 submission to the Nunavut Impact Review Board.
Rebecca Hunter, Ph.D., P.Geo., Forum's Vice President of Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.
Figure 1 The Thelon Basin is a geologic analogue to the Athabasca Basin in Saskatchewan. Orano's uranium deposits are along the same controlling structures as Forum's Tatiggaq deposit and over 20 other targets are present within the project, which could host additional uranium deposits similar to the Athabasca Basin.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/205494_6b28dec534900b7c_003full.jpg
Figure 2 The Tatiggaq Main and West zones are interpreted to be a series of near vertical, uranium- bearing lenses that trend for 1.5 km. The width of the mineralized section is interpreted to be approximately 50 m but its total width is not yet determined. TAT23-002 only intersected two of these lenses that were intersected in near vertical holes by Cameco's previous drilling (for example 0.85% over 13.7m in hole TUR14A). Proposed future drill holes will target mineralization to intersect the true width of the zone and its strike extent.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/205494_6b28dec534900b7c_004full.jpg
Figure 3 Location of Nodular Recording Units deployed at the Tatiggaq Grid.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/205494_6b28dec534900b7c_005full.jpg
Figure 4 ENE-WSW section through the Tatiggaq Grid showing the ANT processed 3D velocity data. Data viewed in Leapfrog Geo. Velocity data highlights steep NW-trending faults and changes in velocity are possible interfaces of different alteration strengths and/or rock units. Interpretation is still preliminary.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/205494_6b28dec534900b7c_006full.jpg
About Forum Energy Metals
Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. In addition, Forum holds a diversified energy metal portfolio of copper, nickel, and cobalt projects in Saskatchewan and Idaho.
For further information: https://www.forumenergymetals.com.
This press release contains forward-looking statements. Forward-Looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Forward-Looking information is subject to known and unknown risks, uncertainties and other factors that may cause Forum's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the historical data, the work expenditure commitments; the ability to raise sufficient capital to fund future exploration or development programs; changes in economic conditions or financial markets; changes commodity prices, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or an inability to obtain permits required in connection with maintaining or advancing its exploration projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Richard J. Mazur, P.Geo.
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
Rick Mazur, P.Geo., President & CEO
mazur@forumenergymetals.com
Tel: 604-630-1585
SOURCE: Forum Energy Metals Corp.
Green Shift Closes Previously Announced Sale of the Berlin Project, Colombia
https://ca.finance.yahoo.com/news/green-shift-closes-previously-announced-110000127.html
Green Shift Commodities Ltd.
Tue, April 9, 2024 at 4:00 a.m. PDT·4 min read
GRCMF
0.00%
TORONTO, April 09, 2024 (GLOBE NEWSWIRE) -- Green Shift Commodities Ltd. (TSXV: GCOM and OTCQB: GRCMF), (“Green Shift”, “GCOM” or the “Company”) is pleased to announce that it has closed the previously announced (see previous press release dated December 11, 2023), sale (the “Transaction”) of its Berlin Project (“Berlin” or the “Project”) located in Caldas, Colombia to Jaguar Uranium Corp. (formally Latam Battery Metals Inc.) (“Jaguar”). Jaguar is an arm’s length privately-held company focused on the uranium sector with strong operating experience in Colombia and intends to pursue a listing on a recognized stock exchange in North America (the “Listing”) in the coming months.
Trumbull Fisher, CEO and Director of GCOM, commented, “We are pleased to complete this transaction which offers GCOM several benefits. Firstly, with multiple lithium exploration opportunities, our portfolio now appropriately reflects our exploration focus and technical expertise in Canada and Argentina. Secondly, our equity position in Jaguar complements our basket of uranium holdings which includes IsoEnergy Ltd., Atha Energy Corp., and Premier American Uranium Inc., offering significant leverage as the sector’s momentum continues. Finally, as a result of offsetting the liabilities and taxes associated with Berlin and future cash payments as the Project is advanced, we now have an improved and strengthened balance sheet to continue advancing our projects and assessing additional strategic opportunities.”
Mr. Fisher, continued, “As a significant shareholder of Jaguar, we look forward to the Listing and remain committed to the Project’s advancement, which we believe has the potential to unlock significant value for our collective shareholders.”
Luis Ducassi, CEO of Jaguar, commented, “We believe Berlin is an exceptional asset and we are excited to utilize our in-country and capital markets expertise to advance the Project through a new and dedicated vehicle as sentiment for uranium grows. We thank the GCOM team for their invaluable support and anticipate further collaboration as we advance the Project. Additionally, we welcome Trumbull to our board and look forward to leveraging his expertise.”
Pursuant to the share purchase agreement between GCOM and Jaguar dated December 8, 2023 (the “Agreement”), Jaguar has acquired 100% of the issued and outstanding shares (the “Target Shares”) of two wholly-owned subsidiaries of GCOM, which together hold indirectly a 100% interest in the Project for consideration comprised of:
(i)
CDN$20,000 in cash;
(ii)
1,211,687 common shares of Jaguar (“Jaguar Shares”), representing 20% of the current outstanding Jaguar Shares; and
(iii)
a 1% NSR royalty payable on all production from the Property.
In addition, effective as of closing of the Transaction, Trumbull Fisher, CEO and Director of GCOM has been appointed to the Jaguar board of directors.
GCOM is also entitled to receive additional consideration upon the satisfaction of certain milestones as follows:
(a)
On the earlier of (i) 90 days after the date on which the Project has been brought into good standing, and (ii) five days following completion of the Listing, CDN$1,000,000 in cash;
(b)
Upon completion of the Listing, either (i) assuming the Listing is completed within 12 months following the Closing, the greater of (1) such number of additional Jaguar Shares that would result in GCOM owning 20% of the number of post-Listing Jaguar Shares; and (2) such number of additional Jaguar Shares with a value of CDN$5,000,000, in each case at a deemed price per share equal to the Listing price; or (ii) assuming the Listing is not completed within 12 months following Closing, the greater of (1) such number of additional Jaguar Shares that would result in GCOM owning 25% of the number of post-Listing Jaguar Shares; and (2) such number of additional Jaguar Shares with a value of CDN$6,000,000, in each case at a deemed price per share equal to the Listing price; and
(c)
As soon as practicable, and in any event within 30 days, after the date that Jaguar achieves commercial production of uranium ore from the Property, CDN$5,000,000 in cash.
From the date of closing the Transaction until such time as all the Consideration has been paid, Jaguar has agreed not to transfer any interest in the Target Shares or the Property without the prior written consent of GCOM, which consent may be withheld, conditioned or delayed in the sole discretion of GCOM.
GCOM issued 3,333,333 common shares to Generic Capital Corp. as compensation for advisory services in connection with the Transaction.
About Green Shift Commodities Ltd.
Green Shift Commodities Ltd. is focused on the exploration and development of commodities needed to help decarbonize and meet net-zero goals. The Company is advancing a portfolio of lithium prospects across the Americas. This includes the Rio Negro Project, a district-scale project in an area known to contain hard rock lithium pegmatite occurrences that were first discovered in the 1960s, yet largely underexplored since and the Santiago Luis Lithium Project, both located in Argentina. The Company is also exploring the Armstrong Project, located in the Seymour-Crescent-Falcon lithium belt in northern Ontario, known to host spodumene-bearing lithium pegmatites and significant discoveries.
For further information, please contact:
Green Shift Commodities Ltd.
Trumbull Fisher
Director and CEO
Email: tfisher @optomam
Website: www.greenshiftcommodities.comTwitter: @greenshiftcom
LinkedIn: https://www.linkedin.com/company/greenshiftcommodities/
Forward-Looking Statements
This news release includes certain “forward looking statements”. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intentions for the future, and include, but not limited to, statements with respect to: the future direction of the Company’s strategy; the expected benefits from completion of the Transaction; the Listing; and other activities, events or developments that are expected, anticipated or may occur in the future. These statements are based on assumptions, including that: (i) expectations and assumptions concerning the Transaction; (ii) actual results of exploration, resource goals, metallurgical testing, economic studies and development activities will continue to be positive and proceed as planned, (iii) requisite regulatory and governmental approvals will be received on a timely basis on terms acceptable to Green Shift (iv) economic, political and industry market conditions will be favourable, and (v) financial markets and the market for uranium, battery commodities and rare earth elements will continue to strengthen. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such statements, including, but not limited to: (1) the failure to satisfy the conditions to completion of the arrangement, (2) changes in general economic and financial market conditions, (3) changes in demand and prices for minerals, (4) the Company’s ability to source commercially viable reactivation transactions and/or establish appropriate joint venture partnerships, (5) litigation, regulatory, and legislative developments, dependence on regulatory approvals, and changes in environmental compliance requirements, community support and the political and economic climate, (6) the inherent uncertainties and speculative nature associated with exploration results, resource estimates, potential resource growth, future metallurgical test results, changes in project parameters as plans evolve, (7) competitive developments, (8) availability of future financing, (9) the effects of COVID-19 on the business of the Company, including, without limitation, effects of COVID-19 on capital markets, commodity prices, labour regulations, supply chain disruptions and domestic and international travel restrictions, (10) exploration risks, and other factors beyond the control of Green Shift including those factors set out in the “Risk Factors” in our Management Discussion and Analysis dated May 1, 2023 for the fiscal year ended December 31, 2022 and other public documents available under the Company’s profile on SEDAR+ at www.sedarplus.ca.Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Green Shift assumes no obligation to update such information, except as may be required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Standard Uranium Intersects Anomalous Radioactivity, Prospective Structure and Alteration in Multiple Drill Holes at Atlantic Project; Concludes Inaugural Drill Program
https://ca.finance.yahoo.com/news/standard-uranium-intersects-anomalous-radioactivity-110000866.html
Standard Uranium Ltd.
Thu, April 11, 2024 at 4:00 a.m. PDT·9 min read
STTDF
-4.36%
VANCOUVER, British Columbia, April 11, 2024 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU)
Anfield Energy Achieves Significant Milestone to Recommence Uranium Production at Shootaring as the Company Submits its Mill Reactivation Plan to the State of Utah, Which Includes a Tripling of Licensed Production Capacity
https://ca.finance.yahoo.com/news/anfield-energy-achieves-significant-milestone-110000641.html
Anfield Energy Inc.
Tue, April 9, 2024 at 4:00 a.m. PDT·12 min read
ANLDF
-1.33%
VANCOUVER, British Columbia, April 09, 2024 (GLOBE NEWSWIRE) -- Anfield Energy, Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (
Strathmore Finalizes Agate Permit for 200 Hole Drilling Program
https://www.newsfilecorp.com/release/204882
April 10, 2024 7:00 AM EDT | Source: Strathmore Plus Uranium Corp.
Kelowna, British Columbia--(Newsfile Corp. - April 10, 2024) - Strathmore Plus Uranium Corporation (TSX: SUU) (OTCQB: SUUFF) ("Strathmore" or "the Company") is pleased to announce we are planning a 200-hole drill program in 2024 for Agate totaling 30,000 feet. The active drill permit has been amended and sent to state and federal regulators with exploration planned to begin in spring upon approval of proposed permit amendments.
Mr. Terrence Osier, VP Exploration of Strathmore said "During our Phase 1 drill program in 2023, we successfully discovered uranium roll front mineralization saturated with groundwater at shallow depths, from 80 to 150 feet deep, confirming the available historical data. The 2024 drill targets are planned this year to extend the discovered roll front into untested ground, in addition to other targets across the Project. One of these targets lies a mile south of the area we drilled in 2023, including historic intercepts of 4 feet of 0.35% eU3O8 from 85 to 89 feet (hole KM-23-119) and 7 feet of 0.062% eU3O8 from 87 to 94 feet (hole KM-15-138). Strathmore intends to subcontract with the same drilling contractor and geophysical logger as was used in 2023- Single Water Services, Hawkins CBM Logging."
Strathmore is very encouraged by UR-Energy's announcement last month to begin construction of a satellite in-situ operation at their nearby Shirley Basin Project, located 6 miles from Agate. We look forward to advancing our working agreement with UR-Energy which should result in shorter lead times and lower costs for developing and operating an in-situ operation at Agate. In addition to exploring Agate, we plan to drill this summer at our Beaver Rim Project in the Gas Hills Uranium District.
About the Agate Property
The Agate property consists of 52 wholly owned lode mining claims covering 1,075 acres. The uranium mineralization is contained in classic Wyoming-type roll fronts within the Eocene Wind River Formation, an arkosic-rich sandstone. Historically, 55 million pounds of uranium were mined in Shirley Basin, including from open-pit, underground, and the first successful in-situ recovery operation in the USA during the 1960s. At the property, the uranium mineralization is shallow, from 15 to approximately 150 feet deep, much of which is below the water table and likely amenable to in-situ recovery.
The Project was previously explored by Kerr-McGee Corporation in the 1970s, which was the largest producer of uranium in the United States, including from their Shirley Basin deposits. Other uranium companies in the basin include Cameco, enCore Energy, UR Energy, and UEC, whose claims border the Agate property. Available Kerr-McGee historical drill results from the Wyoming Geological Survey include drill hole location maps and 330 geophysical logs which have been digitized and reinterpreted for entry into a modern, verifiable database. In 2023, Strathmore completed 100 drill holes on the Project, confirming the historical drill results. The exploratory drilling targeted the Lower "A" sand of the Eocene Wind River Formation, an arkosic-rich sandstone which is noted for its high porosity, permeability, and groundwater transmissivity.
About Strathmore Plus Uranium Corp.
Strathmore has three permitted uranium projects in Wyoming, including Agate, Beaver Rim, and Night Owl. The Agate and Beaver Rim properties contain uranium in typical Wyoming-type roll front deposits based on historical drilling data. The Night Owl property is a former producing surface mine that was in production in the early 1960s.
Cautionary Statement: "Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release".
Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Strathmore Plus Uranium Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Strathmore Plus Uranium Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Terrence Osier, P.Geo., Vice President, Exploration of Strathmore Plus Uranium Corp., a Qualified Person.
Strathmore Plus Uranium Corp.
Contact Information:
Investor Relations
Telephone: 1 888 882 8177
Email: info@strathmoreplus.com
ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Strathmore Plus Uranium Corp.
Standard Uranium Provides Exploration Activities Update on the Canary Project, Eastern Athabasca Basin
https://ca.finance.yahoo.com/news/standard-uranium-provides-exploration-activities-110000854.html
Standard Uranium Ltd.
Mon, April 8, 2024 at 4:00 a.m. PDT·5 min read
STTDF
-4.36%
VANCOUVER, British Columbia, April 08, 2024 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to provide an update on exploration activities planned for the 7,302-hectare Canary Project (“Canary” or “the Project”) currently under a three-year earn-in option agreement (the “Option Agreement”) with Mamba Exploration Limited (“Mamba”). Pursuant to the Option Agreement, Mamba has been granted an option (the “Option”) to earn a 75% interest in the Project by funding $6M in exploration expenditures over three years, with the inaugural drill program planned for spring 2024.
The Company is pleased to announce that planning for the inaugural drill program on the Project is nearing completion with the engagement of key vendors for the planned Spring/Summer exploration program at the Project, situated in the prolific eastern Athabasca Basin.
Highlights:
Key Vendors Secured: The Company has engaged drill and helicopter contractors for the inaugural Spring 2024 drill program slated to begin early-May.
Robust & Shallow Drill Targets: Drill plans comprise helicopter-supported diamond drilling focused on high-priority unconformity-related uranium targets refined by geophysical work completed by the Company in 2022. Ideal unconformity target zones on the Project lie within approximately 200-300 metres below surface.
Fully Funded: Mamba has secured funding for the inaugural drill program at Canary on the east side of the Basin, contributing towards year-one expenditure requirements under the Option Agreement.
“Our exploration thesis and targeting strategy in eastern Athabasca uranium district had been bolstered by the high-quality geophysical surveys and interpretations we have completed in preparation for this inaugural program,” said Sean Hillacre, President & VP Exploration for the Company. “Our technical team and partners at Mamba are excited to begin drilling the robust targets identified on Canary for the first time, exploring for shallow high-grade1 unconformity-related uranium mineralization.”
The Company considers uranium mineralization with concentrations greater than 1.0 wt% U3O8 to be “high-grade”.
“The northeast portion of the eastern Athabasca Basin remains comparatively underexplored in terms of drilling. Immediately to the south of the Project, in the greater well-explored eastern-Athabasca region, the drilling density is roughly 1.7 drill holes per square-km. The Canary project contains two main conductive corridors, yet only contains three historical drill holes, or a drilling density of 0.04 drill holes per square-km,” stated Neil McCallum, Technical Director of Standard Uranium. “I am incredibly enthusiastic to have our inaugural drilling beginning soon, after several years of methodical targeting work.”
Overview of Standard Uranium’s northeastern Athabasca Basin projects, highlighting the Canary Project.
Figure 1. Overview of Standard Uranium’s northeastern Athabasca Basin projects, highlighting the Canary Project.
Inaugural 2024 Drill Program
The Company’s Canary project is situated in the Mudjatik geological domain where several recent discoveries have been made, including IsoEnergy’s Hurricane deposit 11 km directly to the south, and is significantly underexplored relative to adjacent magnetic low/electromagnetic (‘EM’) conductor corridors. Drill targets are being prioritized on the Canary claims based on historic exploration and geophysical surveys completed in 2022 (Figure 2).
Geophysical map and schematic cross-section A-A’ highlighting basement-linked resistivity anomalies identified through the 2022 DC/IP survey on the...
Figure 2. Geophysical map and schematic cross-section A-A’ highlighting basement-linked resistivity anomalies identified through the 2022 DC/IP survey on the Canary Project. General drill target areas are circled in red. Local exploration trends and historical drilling are also displayed with first vertical derivative magnetics in the background.
The Company completed a high-resolution ground DC/IP survey on the project in 2022, providing valuable structural and lithological information in the area to identify conductive bodies and potential fault systems. Significant resistivity-low anomalies are present along the northern conductor on the project, potentially representing substantial hydrothermal alteration zones in the sandstone and proximal to basement conductors.
Additionally, legacy GeoTEM data defining the southeastern EM corridor on the project is directly comparable to the response and scale of the GeoTEM conductor which hosts the Roughrider/J-zone uranium deposits futher to the south. Highly anomalous geochemistry and favorable alteration was returned from historical drill hole CRK-137 along the southeastern conductor, providing an exceptional follow-up target. The project is drill-ready with multiple overlapping geophysical anomalies having been identified on the property, coinciding with previously identified conductive corridors and anomalous historical drill results.
The scientific and technical information contained in this news release has been reviewed, verified, and approved by Sean Hillacre, P.Geo., President and VP Exploration of the Company and a “qualified person” as defined in NI 43-101.
About Standard Uranium (TSX-V: STND)
We find the fuel to power a clean energy future
Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in the world’s richest uranium district. The Company holds interest in over 209,867 acres (84,930 hectares) in the world-class Athabasca Basin in Saskatchewan, Canada. Since its establishment, Standard Uranium has focused on the identification, acquisition, and exploration of Athabasca-style uranium targets with a view to discovery and future development.
Standard Uranium has successfully completed four joint venture earn in partnerships on their Sun Dog, Canary, Atlantic and Ascent projects totaling over $31M in work commitments over the next three years from 2024-2027.
Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, comprises ten mineral claims over 30,737 hectares. Davidson River is highly prospective for basement-hosted uranium deposits due to its location along trend from recent high-grade uranium discoveries. However, owing to the large project size with multiple targets, it remains broadly under-tested by drilling. Recent intersections of wide, structurally deformed and strongly altered shear zones provide significant confidence in the exploration model and future success is expected.
Standard Uranium’s eight eastern Athabasca projects comprise thirty mineral claims over 32,838 hectares. The eastern basin projects are highly prospective for unconformity related and/or basement hosted uranium deposits based on historical uranium occurrences, recently identified geophysical anomalies, and location along trend from several high-grade uranium discoveries.
Standard Uranium's Sun Dog project, in the northwest part of the Athabasca Basin, Saskatchewan, is comprised of nine mineral claims over 19,603 hectares. The Sun Dog project is highly prospective for basement and unconformity hosted uranium deposits yet remains largely untested by sufficient drilling despite its location proximal to uranium discoveries in the area.
For further information contact:
Jon Bey, Chief Executive Officer, and Chairman
Suite 918, 1030 West Georgia Street
Vancouver, British Columbia, V6E 2Y3
Tel: 1 (306) 850-6699
E-mail: info@standarduranium.ca
Cautionary Statement Regarding Forward-Looking Statements
This news release contains “forward-looking statements” or “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements include, but are not limited to, statements regarding: the timing and content of upcoming work programs; geological interpretations; timing of the Company’s exploration programs; and estimates of market conditions.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements are highlighted in the “Risks and Uncertainties” in the Company’s management discussion and analysis for the fiscal year ended April 30, 2023.
Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company’s actual financial results, performance, or achievements to be materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop forward-looking statements include, without limitation: that the transaction with the Optionee will proceed as planned; the future price of uranium; anticipated costs and the Company’s ability to raise additional capital if and when necessary; volatility in the market price of the Company’s securities; future sales of the Company’s securities; the Company’s ability to carry on exploration and development activities; the success of exploration, development and operations activities; the timing and results of drilling programs; the discovery of mineral resources on the Company’s mineral properties; the costs of operating and exploration expenditures; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); uncertainties related to title to mineral properties; assessments by taxation authorities; fluctuations in general macroeconomic conditions.
The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9935a4ee-8bd4-46da-8d86-22e3c75b9882
https://www.globenewswire.com/NewsRoom/AttachmentNg/3fc4756e-6448-48d5-b8e0-4f445d0a866b
Oberon Uranium Closes Acquisition of Mineral Claims in Saskatchewan
https://www.newsfilecorp.com/release/204584
April 05, 2024 7:00 PM EDT | Source: Oberon Uranium Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 5, 2024) - OBERON URANIUM (CSE: OBRN) ("Oberon" or the "Company") is pleased to announce that it has closed its previously announced acquisition of three mineral claims totalling 365 hectares in Saskatchewan, Canada pursuant to a share purchase agreement dated March 28, 2024 (the "SPA") with Carbon Markets Inc. ("Carbon") and the Carbon shareholders (see Oberon's news release dated April 1, 2024 for further details).
Pursuant to the SPA, to acquire all of the issued and outstanding Carbon shares from the Carbon shareholders, Oberon issued an aggregate of 17,600,000 Class A common shares of Oberon (the "Consideration Shares") to the Carbon shareholders. The Consideration Shares were issued in accordance with applicable securities legislation and are subject to a hold period that will expire on August 6, 2024. The transaction is an arms-length transaction and does not constitute a fundamental change or result in a change of control of the Company, within the meaning of the policies of the CSE.
About the Company
Oberon Uranium Corp. is a mineral exploration company with a 100% interest in the past producing Lucky Boy Uranium Property located in Arizona, USA. Oberon also owns a 100% interest in the Fusion Uranium Zone Project located in the Athabasca Region of Saskatchewan, Canada. For further information, please refer to the Company's disclosure record on SEDAR+ (www.sedarplus.ca) or contact the Company by email at info@oberonuranium.com.
On Behalf of the Board of Directors
"Lawrence Hay"
President and CEO
Tel: 778.317.8754
Email: info@oberonuranium.com
Forward-Looking Information
Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The CSE has not reviewed, approved or disapproved the contents of this news release.
SOURCE: Oberon Uranium Corp.
Atha Energy Announces Closing of 92 Energy Scheme
https://ca.finance.yahoo.com/news/atha-energy-announces-closing-92-034800923.html
ATHA Energy Corp.
Wed, April 10, 2024 at 8:48 p.m. PDT·8 min read
SASKF
-1.60%
VANCOUVER, British Columbia, April 10, 2024 (GLOBE NEWSWIRE) -- ATHA Energy Corp. (TSXV: SASK) (FRA: X5U) (OTCQB: SASKF) (“ATHA”) is pleased to announce the successful completion of the previously announced Australian scheme (the “Scheme”) involving ATHA and 92 Energy Limited (ASX: 92E) (“92 Energy”) pursuant to which ATHA has acquired all of the fully paid ordinary shares in 92 Energy (the “92 Energy Shares”).
SCHEME CONSIDERATION
Pursuant to the Scheme, shareholders of 92 Energy (the “92 Energy Shareholders”) who hold 92 Energy Shares as at 4:00 p.m. (AWST) on April 4, 2024 (the “Record Date”), will receive 0.5834 ATHA common shares (each, an “ATHA Share”) per 92 Energy Share held (the “Scheme Consideration”) (other than ineligible foreign holders and Electing Selling Scheme Participants (as defined below) who made a valid election to participate in the Sale Facility (as defined below) (the “Electing Selling Scheme Participants”)). In the aggregate, ATHA issued 64,101,404 ATHA Shares under the Scheme.
Ineligible foreign holders and Electing Selling Scheme Participants will have the Scheme Consideration that they would have otherwise been entitled to receive issued to a sale agent, who will sell those ATHA Shares at such price and on such other terms as the sale agent determines in good faith, within a reasonable timeframe and in any event not more than 20 trading days (on which ATHA Shares are capable of being traded on the TSX Venture Exchange (the “TSXV”)) after April 11, 2024 (being the implementation date of the Scheme). The sale agent will then pay the total proceeds of those sales of ATHA Shares (after deducting any applicable fees, foreign exchange, stamp duty, brokerage and other selling costs, taxes and charges of the sale agent and after having converted such proceeds into Australian currency) to ATHA (or its agent), who will then remit to each such shareholder their proportion of the aggregate net sale proceeds (in Australian dollars) in accordance with the terms of the Scheme (the “Sale Facility”).
In connection with the closing of the Scheme, trading in 92 Energy Shares on the Australian Securities Exchange (the “ASX”) was suspended at the closing of trading on March 28, 2024. An application has been made to remove 92 Energy from the official list of ASX, which is expected to take effect on and from the close of trade on April 12, 2024.
For additional information on the Scheme, please refer to ATHA’s news releases dated December 7, 2023, and January 25, 2024, March 25, 2024, and March 27, 2024.
Board of Directors and Management
ATHA’s board of directors now consists of six directors, including Mike Castanho (Chair), Doug Engdahl, Sean Kallir, Jeff Barber, Phil Williams, and Richard Pearce.
About ATHA
ATHA is a Canadian mineral company engaged in the acquisition, exploration, and development of uranium assets in the pursuit of a clean energy future. With a strategically balanced portfolio including three 100%-owned post discovery uranium projects (the Angilak Project located in Nunavut, and CMB Discoveries in Labrador, hosting historical resource estimates of 43.3 million lbs and 14.5 million lbs U3O8 respectively, and the newly discovered basement hosted GMZ high-grade uranium discovery located in the Athabasca Basin). In addition, the Company holds the largest cumulative prospective exploration land package (8.1 million acres) in two of the world’s most prominent basins for uranium discoveries - ATHA is well positioned to drive value. ATHA also holds a 10% carried interest in key Athabasca Basin exploration projects operated by NexGen Energy Ltd. and IsoEnergy Ltd. For more information visit www.athaenergy.com. 1,2,3
For more information, please contact:
Troy Boisjoli
Chief Executive Officer
Email: info@athaenergy.com
www.athaenergy.com
Historical Mineral Resource Estimates
All mineral resources estimates presented in this news release are considered to be “historical estimates” as defined under NI 43-101, and have been derived from the following (See notes below). In each instance, the historical estimate is reported using the categories of mineral resources and mineral reserves as defined by the CIM Definition Standards for Mineral Reserves, and mineral reserves at that time, and these “historical estimates” are not considered by ATHA to be current. In each instance, the reliability of the historical estimate is considered reasonable, but a Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource, and ATHA is not treating the historical estimate as a current mineral resource. The historical information provides an indication of the exploration potential of the properties but may not be representative of expected results.
Notes on the Historical Mineral Resource Estimate for the Angilak Deposit:
This estimate is considered to be a “historical estimate” under NI 43-101 and is not considered by any of to be current. See below for further details regarding the historical mineral resource estimate for the Angilak Property.
Mineral resources which are not mineral reserves do not have demonstrated economic viability.
The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues.
The quality and grade of the reported inferred resource in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource, and it is uncertain if further exploration will result in upgrading them to an indicated or measured resource category.
Contained value metals may not add due to rounding.
A 0.2% U3O8 cut-off was used.
The mineral resource estimate contained in this press release is considered to be “historical estimates” as defined under NI 43-101 and is not considered to be current.
The “historical estimate” is derived from a Technical Report entitled “Technical Report and Resource Update For The Angilak Property, Kivalliq Region, Nunavut, Canada”, prepared by Michael Dufresne, M.Sc., P.Geol. of APEX Geosciences, Robert Sim, B.Sc., P.Geo. of SIM Geological Inc. and Bruce Davis, Ph.D., FAusIMM of BD Resource Consulting Inc., dated March 1, 2013 for ValOre Metals Corp.
As disclosed in the above noted technical report, the historical estimate was prepared under the direction of Robert Sim, P.Geo, with the assistance of Dr. Bruce Davis, FAusIMM, and consists of three-dimensional block models based on geostatistical applications using commercial mine planning software. The project limits area based in the UTM coordinate system (NAD83 Zone14) using nominal block sizes measuring 5x5x5m at Lac Cinquante and 5x3x3 m (LxWxH) at J4. Grade (assay) and geological information is derived from work conducted by Kivalliq during the 2009, 2010, 2011 and 2012 field seasons. A thorough review of all the 2013 resource information and drill data by a Qualified Person, along with the incorporation of subsequent exploration work and results, which includes some drilling around the edges of the historical resource subsequent to the publication of the 2013 technical report, would be required in order to verify the Angilak Property historical estimate as a current mineral resource.
The historical mineral resource estimate was calculated in accordance with NI 43-101 and CIM standards at the time of publication and predates the current CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014) and CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (November, 2019).
A thorough review of all historical data performed by a Qualified Person, along with additional exploration work to confirm results would be required to produce a current mineral resource estimate prepared in accordance with NI 43-101.
Notes on the Historical Mineral Resource Estimate for the Moran Lake Deposit:
Jeffrey A. Morgan, P.Geo. and Gary H. Giroux, P.Eng. completed a NI 43-101 technical report titled “Form 43-101F1 Technical Report on the Central Mineral Belt (CMB) Uranium Project, Labrador, Canada, Prepared for Crosshair Exploration & Mining Corp.” and dated July 31, 2008, with an updated mineral resource estimate for the Moran Lake C-Zone along with initial mineral resources for the Armstrong and Area 1 deposits. They modelled three packages in the Moran Lake Upper C-Zone (the Upper C Main, Upper C Mylonite, and Upper C West), Moran Lake Lower C-Zone, two packages in Armstrong (Armstrong Z1 and Armstrong Z3), and Trout Pond. These mineral resources are based on 3D block models with ordinary kriging used to interpolate grades into 10 m x 10 m x 4 m blocks. A cut-off grade of 0.015% U3O8 was used for all zones other than the Lower C Zone which employed a cut-off grade of 0.035%. A thorough review of all historical data performed by a Qualified Person, along with additional exploration work to confirm results, would be required to produce a current mineral resource estimate prepared in accordance with NI 43-101 standards.
3. Notes on the Historical Mineral Resource Estimate for the Anna Lake Deposit:
The mineral resource estimate contained in this table is considered to be a “historical estimate” as defined under NI 43-101, and is not considered to be current and is not being treated as such. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources. A qualified person would need to review and verify the scientific information and conduct an analysis and reconciliation of historical drill and geological data in order to verify the historical estimate as a current mineral resource.
Reported by Bayswater Uranium Corporation in a Technical Report entitled “Form 43-101 Technical Report on the Anna Lake Uranium Project, Central Mineral Belt, Labrador, Canada”, prepared by R. Dean Fraser, P.Geo. and Gary H. Giroux, P.Eng., dated September 30, 2009.
A 3-dimensional geologic model of the deposit was created for the purpose of the resource estimate using the Gemcom/Surpac modeling software. A solid model was created using a minimum grade x thickness cutoff of 3 meters grading 0.03% U3O8. Intersections not meeting this cutoff were generally not incorporated into the model. The shell of this modeled zone was then used to constrain the mineralization for the purpose of the block model. Assay composites 2.5 meters in length that honoured the mineralized domains were used to interpolate grades into blocks using ordinary kriging. An average specific gravity of 2.93 was used to convert volumes to tonnes. The specific gravity data was acquired in-house and consisted of an average of seventeen samples collected from the mineralised section of the core. The resource was classified into Measured, Indicated or Inferred using semi-variogram ranges applied to search ellipses. All resources estimated at Anna Lake fall under the “Inferred” category due to the wide spaced drill density. An exploration program would need to be conducted, including twinning of historical drill holes in order to verify the Anna Lake Project estimate as a current mineral resource.
Neither the TSXV nor its Market Regulator (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
None of the securities to be issued pursuant to the Scheme have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issuable in the Scheme are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities.
Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. These forward-looking statements or information may relate to, among other things, ATHA’s ongoing business plan, exploration and work program.
Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, delisting of 92 Energy Shares from the ASX, administration of the Sale Facility, assumptions regarding expectations and assumptions concerning the Scheme and that general business and economic conditions will not change in a material adverse manner. Although each of ATHA and 92 Energy have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
Such statements represent the current views of ATHA and 92 Energy with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by ATHA and 92 Energy, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: the TSXV not providing approval to the Scheme and all required matters related thereto; the inability of the consolidated entity to realize the benefits anticipated from the Scheme and the timing to realize such benefits, including the exploration and drilling targets; unanticipated changes in market price for ATHA Shares; changes to ATHA’s and/or 92 Energy’s current and future business and exploration plans and the strategic alternatives available thereto; growth prospects and outlook of the business of each of ATHA and 92 Energy; any impacts of COVID-19 on the business of the consolidated entity and the ability to advance its projects; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions in Canada and other jurisdictions where the applicable party conducts business. Other factors which could materially affect such forward-looking information are described in the filings of ATHA with the Canadian securities regulators which are available on ATHA’s profile on SEDAR+ at www.sedarplus.ca, and filings of 92 Energy with the Australian regulatory authorities. Neither ATHA nor 92 Energy undertake to update any forward-looking information, except in accordance with applicable securities laws.
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