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Generation Uranium To Initiate Large-Scale Airborne Electromagnetic Survey in Conjunction With Atha Energy on its Flagship Yath Uranium Project in Nunavut, Canada
https://thenewswire.com/press-releases/1BglFWVbj-generation-uranium-to-initiate-large-scale-airborne-electromagnetic-survey-in-conjunction-with-atha-energy-on-its-flagship-yath-uranium-project-in-nunavut-canada.html
Vancouver, British Columbia, Canada – TheNewswire - August 22nd, 2024, Generation Uranium Inc. (the “Company” or “Generation”) (TSXV: GEN) (OTCQB: GENRF) (FSE: W85) is pleased to announce that it has engaged the services of Expert Geophysics Ltd., based out of Aurora, Ontario, to conduct an airborne electromagnetic on its flagship Yath Uranium Project (“Yath”) located in Nunavut, Canada. The survey will use advanced Mobile MagnetoTellurics (“MMT”) geoelectrical mapping technology to collect electromagnetic (EM) survey data with the most advanced generation of airborne AFMAG (Audio-frequency Magnetic) technology, based on exploiting natural EM fields.
A total of 890 line-km will be surveyed at 150-meter line spacing, collecting high-resolution magnetic and VLF data. The survey will cover the entire 123.45 km² Yath Uranium Project surface area and is part of a larger survey being conducted by Atha Energy Corp (“Atha”). The collaboration is a mutually beneficial agreement between both companies to reduce exploration costs by way of proximity, with Yath located within several kilometers of the commercial-scale uranium Angilak historical deposit* under advancement by Atha.
"We are pleased to have procured the services of Expert Geophysics to initiate some of the most advanced mapping technology available in the industry,” said Generation CEO Anthony Zelen. “Our collaboration with Atha Energy makes sense by using economies of scale to deliver a cost-effective way to survey Yath and advance the project towards the drill.”
To date, over $6 million dollars has been apportioned to develop the Yath property by Generation and previous property owners. Generation will continue to evaluate the geophysical data from the upcoming survey to determine if there are additional high priority targets alongside those identified by Kivalliq Energy and previous operators.
For additional information on Yath and other company assets, please visit our investor presentation and website.
Derrick Strickland, P. Geo. (L5669), a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects), has reviewed the scientific information that forms the basis for this news release and has approved the disclosure herein.
* The Historical Resource was reported by ValOre Metals Corp. in a Technical Report entitled “Technical Report and Resource Update For The Angilak Property, Kivalliq Region, Nunavut, Canada” (Report), 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. The Report consists of three-dimensional block models based on geostatistical applications using commercial mine planning software 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. 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). The Company is not treating the resource as current.
FOR FURTHER INFORMATION CONTACT
Anthony Zelen
President and Chief Executive Officer
Admin@generationuranium.com
778-388-5258
About Generation Uranium
The Company is a natural resource company engaged in the exploration and development of mineral properties. The Company holds a 100% interest in the 123.45 km² Yath Uranium Project, located in the Yathkyed Basin in Nunavut and located within close proximity to the commercial-scale Angilak deposit under advancement by Atha Energy Corp. The Basin is renowned for hosting commercial grade deposits comparable in scale to the Athabasca Basin in the Canadian Shield of northern Saskatchewan and Alberta, Canada, and McArthur district in Australia.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers 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 including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
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. The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.
Stallion Uranium Advances Southwestern Athabasca Basin Uranium Project with Gravity Survey
https://ca.finance.yahoo.com/news/stallion-uranium-advances-southwestern-athabasca-113000200.html
Stallion Uranium Corp.
Wed, August 21, 2024 at 4:30 a.m. PDT·3 min read
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+4.01%
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-2.60%
VANCOUVER, British Columbia, Aug. 21, 2024 (GLOBE NEWSWIRE) -- Stallion Uranium Corp. (the "Company" or "Stallion") (TSX-V: STUD; OTCQB: STLNF; FSE: FE0) is pleased to announce the results of an airborne gravity survey over sections of the companies Southwestern Athabasca Basin JV Project with Atha Energy (“Atha”)(TSX-V:SASK) in northern Saskatchewan. The survey results reveal promising gravity anomalies that are associated with possible uranium alteration and prospective rock types highlighting more prospective target areas for Stallion.
Darren Slugoski, VP Exploration stated, “We are highly encouraged by the gravity survey results from our Southwestern Athabasca Basin Joint Venture Project. The central gravity anomaly has a strong correlation with the uranium bearing Patterson Lake Trend which adds to the prospectivity of targets of the stronger Northern and Southern gravity anomalies.”
Key Findings from the Gravity Survey:
Significant Correlation: The survey detected the central gravity low which correlates to the mineralized Patterson Lake trend which hosts the world class Triple R and Arrow Deposits.
Significant Anomalies: The four anomalies were identified and correspond to subsurface zones that were previously identified as high priority areas.
Future Exploration Plans: Based on these positive results, the company is able to further prioritize these targets in conjunction with other available datasets for further exploration.
The completed gravity survey is another step forward in the company’s ability to prioritize prospective targets across its large land package. The information gained from the gravity survey builds further confidence in its targets as the company compares the targets to known deposits in the area that share similar gravity features and anomalies. The Northern and Southern gravity anomalies shown in Figure 1 are the strongest and are associated with conductive corridors that were identified in the previous MobileMT survey. The gravity survey signals the density of the rock, and the gravity lows may represent more alteration which are commonly associated with world class uranium deposits. This survey was an important survey in the discovery of NexGen’s Arrow deposit on the nearby Patterson Lake Trend.
The added data from the completed gravity survey furthers the company’s understanding of the previously underexplored land package. All the compiled and modeled data provides valuable information for the next stages of exploration as the company continues to focus in on the very best target areas available, increasing the probability of a uranium discovery.
The Gravity Survey Parameters
The gravity survey, conducted over a 637-square-kilometer area, was designed to identify subsurface density variations typically associated with uranium-bearing deposits. This non-invasive geophysical method was implemented to better define priority target areas and is a key indicator used in locating the world-class uranium deposits in the region.
Axiom Exploration Group carried out a high resolution Xplorer™ NxT gravity survey, flown using the NxT Helicopter Gravimeter and Magnetic system on an AS350B2 helicopter platform. NxT includes NRG’s patented split ring laser gyro and NRG’s patented Active Thermal Control System (ATCS) greatly improves the drift characteristics and performance. The survey consisted of 1 block, totaling 4,277 line-kms with a traverse line spacing of 200 m and tie line spacing of 2000 m.
Gravity Results at 600m below surface. Highlighting the gravity low anomalies in blue.
Figure 1 – Gravity Results at 600m below surface. Highlighting the gravity low anomalies in blue.
Qualifying Statement
The foregoing scientific and technical disclosures for Stallion Uranium have been reviewed by Darren Slugoski, P.Geo., VP Exploration, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Mr. Slugoski is a Qualified Person as defined by National Instrument 43-101.
About Stallion Uranium
Stallion Uranium is working to ‘Fuel the Future with Uranium’ through the exploration of over 3,000 sq/km in the Athabasca Basin, home to the largest high-grade uranium deposits in the world. The company, with JV partner Atha Energy holds the largest contiguous project in the Western Athabasca Basin adjacent to multiple high-grade discovery zones.
Our leadership and advisory teams are comprised of uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties.
Stallion offers optionality with the Horse Heaven gold project in Idaho that neighbours the world class Stibnite Gold deposit, offering exposure to upside potential from district advancement with limited capital expenditures.
For more information visit stallionuranium.com or contact:
Drew Zimmerman
Chief Executive Officer
778-686-0973
info@stallionuranium.com
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 contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”) that relate to the Company’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this material change report should not be unduly relied upon. These statements speak only as of the date they are made.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4d3dd695-e0ea-4d7a-8b1f-45e9a88a10fe
Uranium Energy Corp Intersects 12.7% eU3O8 over 7.2 metres, 850 m northeast of Roughrider Deposit
https://www.newswire.ca/news-releases/uranium-energy-corp-intersects-12-7-eu3o8-over-7-2-metres-850-m-northeast-of-roughrider-deposit-800279636.html
Uranium Energy Corp Aug 20, 2024, 06:30 ET
NYSE American: UEC
CORPUS CHRISTI, Texas, Aug. 20, 2024 /CNW/ - Uranium Energy Corp (NYSE American: UEC) t
ATHA Energy Announces Proposed Option Agreements with Terra Uranium for Spire, Horizon, and Pasfield Projects
https://ca.finance.yahoo.com/news/atha-energy-announces-proposed-option-110000515.html
ATHA Energy Corp.
Tue, August 20, 2024 at 4:00 a.m. PDT·13 min read
T92.AX
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VANCOUVER, British Columbia, Aug. 20, 2024 (GLOBE NEWSWIRE) -- ATHA Energy Corp. (TSXV: SASK) (FRA: X5U) (OTCQB: SASKF) (“ATHA”) is pleased to announce that it has entered into a non-binding letter of intent (the “LOI”) with Terra Uranium Ltd. (ASX: T92) (“T92”), whereby the parties will work to negotiate a definitive option and joint venture agreement for T92 to earn an option to acquire a 70% interest in ATHA’s Spire and Horizon properties (together, the “Spire Horizon Projects”) and a definitive option and joint venture agreement for ATHA to earn an option to acquire up to a 60% interest in T92’s Pasfield Lake property (the “Pasfield Project”).
SPIRE HORIZON PROJECTS
The Spire Horizon Projects are comprised of 12 mineral claims totalling 60,965 hectares, located on the eastern rim of the Athabasca Basin, Saskatchewan, within the Company’s East Rim Exploration District (Figure 1). The properties are situated within the Needle Falls Shear Zone (“NFSZ”), where associated cross cutting regional scale tabernor fault – known for hosting uranium mineralization – have been identified. The Spire Horizon Projects are highly prospective for uranium exploration with numerous uraniferous boulders and outcrops, associated with NFSZ, have been discovered (Figure 2). Recent exploration activities in the area include ATHA’s Gemini Project, which contains the shallow basement-hosted, high-grade uranium GMZ discovery. In addition to uranium prospectivity, high-grade copper showings in outcrops have been identified, along with anomalous copper returned from testing of lake sediments. During ATHA’s maiden 2023 Exploration Program, the Company completed electromagnetic (“EM”) surveys utilizing Xcite’s MobileMT (MMT) & Mag system, as well as Geotech’s VTEM-max system. Those surveys identified approximately 144 km of cumulative conductors, associated with the NFSZ and regional cross-cutting structures. These results demonstrate that the Spire Horizon Projects have a high concentration of shallow prospective exploration targets for discovery of uranium mineralization.
Figure 1
Figure 1: ATHA Energy – Mineral claims Athabasca Basin
Figure 2
Figure 2: Spire Horizon Project (ATHA Energy Corp)
PASFIELD LAKE PROJECT
The Pasfield Project is comprised of 16 mineral claims totalling 68,768 hectares, located within the Athabasca Basin, Saskatchewan (Figure 3). The Pasfield Project is situated within the Cable Bay Shear Zone, contiguous to the north of ATHA’s Ridge Project (“Ridge”) within the Company’s Cable Bay Exploration District. During ATHA’s maiden 2023 Exploration Program, the Company completed an EM survey on Ridge using Xcite’s MMT system. Subsequently, in Q1 of 2024 ATHA deployed GNR’s airborne gravity system and Space Fleet’s Ambient Noise Tomography (“ANT”). Those surveys resulted in the identification of structural corridors that extend from Ridge through to the Pasfield Project – along which T92’s 2023 ANT survey previously detected a low velocity anomaly – evidence of a prospective alteration halo. In 2023, T92 completed a Reverse Circulation (RC) drill exploration program targeting the prospective structural corridor. Drilling intersected anomalous uranium within the sandstone, in addition to the detection of significant helium anomalies – a decay product, and potential pathfinder for uranium mineralization.
Figure 3
Figure 3: Pasfield Project (Terra Uranium Ltd)
T92 has previously made significant investments into project infrastructure at their Pasfield Project, including road access and a year-round exploration camp. As part of the option ATHA will have access to this infrastructure, which will significantly decrease capital costs for any future exploration programs at Ridge and the Pasfield Project.
SPIRE HORIZON OPTION
In accordance with the terms of the LOI and upon entering into a Definitive Agreement, ATHA shall grant T92 the sole and exclusive right and option to acquire up to a 70% interest in the Spire Horizon Projects (the “Spire Horizon Option”) in consideration for incurring a minimum of $4,750,000 exploration expenditures as set out below:
(i) on or before December 20, 2024, T92 must incur at least $750,000 of statutory exploration expenditure, which must also include the costs associated with the payment for a mineral exploration assessment report (the “First Expenditure”);
(ii) on or before September 21, 2025, T92 must incur additional statutory exploration expenditures of at least $1,000,000 (the “Second Expenditure”);
(iii) on or before September 21, 2026, T92 must incur additional statutory exploration expenditures of at least $1,000,000 (the “Third Expenditure”);
(iv) on or before September 21, 2027, T92 must incur additional statutory exploration expenditures of at least $1,000,000 (the “Fourth Expenditure”); and
(v) on or before September 21, 2028, T92 must incur additional statutory exploration expenditures of at least $1,000,000 (the “Fifth Expenditure”).
ATHA and T92 agree to form a joint venture on the Spire Horizon Projects upon the satisfaction of the First Expenditure, Second Expenditure, and the Third Expenditure, with the initial interest of T92 being a 50% participating interest and ATHA’s being a 50% carried interest (subject to the 5% carried interest in favour of a third party).
Upon the satisfaction of the Fourth Expenditure and the Fifth Expenditure, T92’s interest will increase to a 70% participation interest and ATHA’s interest will adjust to a 30% participation interest. If at any time during the period where ATHA holds a carried interest, T92 prepares and delivers a “preliminary economic assessment” prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects in respect of the Spire Horizon Projects to ATHA, ATHA’s carried interest may be converted into a participating interest at the election of ATHA.
PASFIELD OPTION
In accordance with the terms of the LOI and upon entering into a Definitive Agreement, T92 shall grant to ATHA the four exclusive and separate rights and options to acquire undivided legal and beneficial interests in the Pasfield Project (together the “Pasfield Options” and each, a “Pasfield Option”) as follows:
(i) an undivided 15% interest in the Pasfield Project, which may be exercised by either: (a) funding exploration expenditures totalling $1,000,000 or (b) successfully completing one deep hole of at least 1,000 m into the geophysical target on or before December 31, 2025;
(ii) an undivided 15% interest for a total of 30% interest in the Pasfield Project, which may be exercised by either: (a) funding exploration expenditures totalling $2,000,000 or (b) successfully completing two deep holes of at least 1,000 m into the geophysical target on or before December 31, 2026;
(iii) an undivided 15% interest in the Pasfield Project, which may be exercised by either: (a) funding exploration expenditures totalling $3,000,000 or (b) successfully completing three deep holes of at least 1,000 m into the geophysical target on or before December 31, 2027; and
(iv) an undivided 15% interest in the Pasfield Project (the “Fourth CP Option”), which may be exercised by either: (a) funding exploration expenditures totalling $4,000,000 or (b) successfully completing four deep holes of at least 1,000 m into the geophysical target on or before December 31, 2028.
After exercising each Pasfield Option and upon written notice by ATHA to T92, each undivided 15% interest in the Pasfield Project can, at ATHA’s election, be converted into a 1% net smelter returns royalty (“NSR”) for an aggregate maximum NSR of 4%. Upon the satisfaction of the Fourth CP Option and assuming ATHA has not converted its interests in the Pasfield Project into a NSR, the parties will be deemed to form a joint venture on the Pasfield Project (the “Pasfield Joint Venture”) with T92 holding an initial 40% participating interest in the Pasfield Joint Venture and ATHA holding a 60% participation interest. ATHA will also have the sole and exclusive right to access and use all camp facilities located on the Pasfield Project for a daily fee to be negotiated between ATHA and T92.
The full details of the terms will be released in a future press release if the parties proceed to a Definitive Agreement. The closing of the Definitive Agreements will be subject to due diligence results, as well as receipt of stock exchange and other third-party approvals.
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
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.
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:
1. 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.
2. 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 the transactions contemplated herein, including statements with respect to the expected benefits of the transactions described herein to ATHA and the ATHA shareholders, the expectation that the parties will successfully negotiate the terms of the Definitive Agreement, the approval by the securities exchanges, the successful incurrence of exploration expenditure as required to earn the options, 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 regarding ATHA following completion of the transactions, that the anticipated benefits of the transactions will be realized, completion of the transactions, including receipt of required stock exchange approvals, the ability of ATHA and T92 to satisfy, in a timely manner, the other conditions to the closing of the transactions or earning the option, other expectations and assumptions concerning the transactions, the ability of ATHA and T92 to complete its exploration activities as currently expected, 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 ATHA will be able to execute on its current plans, and that general business and economic conditions will not change in a material adverse manner. Although each of ATHA and T92 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 T92 with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by ATHA and T92, 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 parties being unable to negotiate the terms of the Definitive Agreement, inability of ATHA to complete the exploration expenditures to earn the option, a material adverse change in the timing of any completion and the terms and conditions upon which the transactions is completed; inability to satisfy or waive all conditions to closing the transactions as set out in the Definitive Agreement; inability of ATHA to realize the benefits anticipated from the exploration and drilling targets described herein or elsewhere; inability 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; and changes to ATHA’s current and future business and exploration plans and the strategic alternatives available thereto. 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, respectively, 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.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/79c8df06-6c78-46bb-9fd5-b5969a668349
https://www.globenewswire.com/NewsRoom/AttachmentNg/d9a0f7ea-9742-49a0-be1e-627796b6123e
https://www.globenewswire.com/NewsRoom/AttachmentNg/2003d2d2-e3b5-45e0-946c-27e96493100a
Nexus Granted Multi Year Drill Permit for Cree East
https://www.newsfilecorp.com/release/220411
August 20, 2024 8:00 AM EDT | Source: Nexus Uranium Corp.
Vancouver, British Columbia--(Newsfile Corp. - August 20, 2024) - Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) (FSE: 3H1) (the "Company" or "Nexus") is pleased to announce the receipt of a three-year exploration permit from the Saskatchewan Ministry of Environment for the Cree East uranium project in the Athabasca Basin of Saskatchewan, Canada (the "Cree East" or the "Project"). Nexus has the right to earn up to a 75% interest in the Project from CanAlaska Uranium Ltd. ("CanAlaska") (TSX: CVV).
The permit, including the Ministry of Environment Crown Land Work Authorization, was issued under CanAlaska Uranium Ltd. and are valid through July 31st, 2027. The permit allows the Company to conduct mineral exploration activities including geophysics and drilling, in addition to the construction of camps to facilitate the various planned programs.
The Company is currently reviewing data to finalize targets for an upcoming drill program. A successful fieldwork program was completed in July which included the relogging of drill core which will be combined with the reinterpretation of prior airborne and ground geophysical surveys currently being conducted by Condor Consulting Inc., is nearing completion. Subsequent to which, the Company will finalize the location of drill targets.
"The receipt of permits ahead of expectations is a testament to the team our partners at CanAlaska have assembled and the relationship they have fostered with both the various First Nations groups and the Saskatchewan Government" commented Jeremy Poirier, CEO of Nexus Uranium. "We look to finalize drill targets for our upcoming drill program on the receipt of the reinterpreted geophysical data."
About Nexus Uranium Corp.
Nexus Uranium Corp. 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 Uravan 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; any exercise of the option to acquire the Cree East Project and the anticipated potential for discovery of high-grade unconformity-style uranium mineralization at the 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 CSE will approve the Option Agreement; the assumption that the Project has the potential for high-grade unconformity-style uranium mineralization; 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 year.
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: the risk that the CSE will not approve the Option Agreement and inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties, stock market volatility and capital market fluctuations, 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.
Blue Sky Uranium Provides Update on Activities and Informs About New Positive Investment Legislation in Argentina
https://www.newswire.ca/news-releases/blue-sky-uranium-provides-update-on-activities-and-informs-about-new-positive-investment-legislation-in-argentina-872582272.html
Blue Sky Uranium Corp. Aug 20, 2024, 07:00 ET
TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF
VANCOUVER, BC, Aug. 20, 2024 /CNW/ - Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF), "Blue Sky" or the "Company") is pleased to provide an update on activities at its Amarillo Grande Uranium-Vanadium Project ("AGP") in Argentina. Field work is currently concentrating on surface exploration while the updating of environmental permits for further drilling is underway. The aim of the on-going program is to apply different techniques to detect the presence and continuity of blind uranium mineralization at depth. The recent work included mapping, soil and pit sampling, auger drilling and the first isotopic survey. The isotopic technique uses geochemical analysis of soils to detect uranium at depth based on its natural decay into specific lead isotopes detectable in surface samples, a method that has been successfully demonstrated in other uranium districts. Blue Sky's work to date was concentrated in the Ivana sector, where anomalous isotopic patterns or footprints identified at the Ivana deposit will be compared with samples collected at other areas of known mineralization, like Ivana Central, in order to identify new drill targets. If successful, this technique will be used as a regional tool to identify new targets and vector drilling for the potential discovery of blind uranium mineralization throughout the 145-km long AGP. Final results of sample analyses and interpreted target generation from the program are in progress.
"This new program is another step in the execution of our strategic plan to discover and develop a cluster of deposits that could feed a central processing facility at Ivana and expand the proposed development scenario presented in the recent positive PEA. Once the Company closes the proposed JV transaction with COAM, and in light of the recent positive tax measures in Argentina, summarized below, we anticipate advancing Ivana towards pre-feasibility, and, if positive, then feasibility and development, as quickly as possible," commented Nikolaos Cacos, Blue Sky President & CEO.
These exploration activities continue while the Company works towards finalizing the transaction with Corredor Americano S.A. ("COAM"). As announced on June 10, 2024, Blue Sky has signed a binding term sheet with COAM, an Argentine affiliate of Corporación América Group, to complete an option agreement in respect to the Company's Ivana Uranium-Vanadium deposit. The transaction provides COAM the option to earn up to a 50% indirect interest in the Property by advancing Ivana through to completion of a feasibility study. Following a positive feasibility study, COAM can earn an additional 30% interest by funding 100% of the estimated capital costs to achieve commercial production.
In addition, the term sheet includes a call-option that will allow COAM to fund the exploration programs at targets located in adjacent areas of the Ivana deposit over the next five years.
Both companies are currently advancing the transaction towards the conclusion of due diligence and finalization of the definitive agreement.
New Argentina Investment Legislation:
On June 28, 2024, Argentine President Javier Milei obtained approval of his main legislative initiative, termed the Bases Law (Ley de Bases), that includes a package of proposed changes over a significant number of laws and regimes in Argentina. In particular, the Bases Law contains an Incentive Regime for Large Investments (RIGI) applicable to new investments over US$200 million in mining, among others, presented within the next 2 to 3 years. The RIGI grants 30-year special status for these investments, including tax stability, reduction of income tax (25% tax rate rather than general scale which ranges from 25-35%), exemptions of import-export duties, accelerated depreciation, staged ability to keep export proceeds in foreign currency reaching 100% after 3-4years, and the option to settle disputes using international arbitration courts, as the main benefits.
The Amarillo Grande Project is located in Rio Negro Province, which was the first province to adopt the RIGI shortly after the approval of the new law. By the end of July, the joint-venture between YPF, the national oil and gas (O&G) company, and Petronas, the Malaysian O&G national company, chose Rio Negro as the location in which to invest US$30 billion on the construction of a liquification plant for the exportation of the unconventional natural gas produced from the Neuquén basin.
Qualified Persons
The design of the Company's exploration program was undertaken by the Company's geological staff under the supervision of David Terry, Ph.D., P. Geo. Dr. Terry is a Director of the Company and a Qualified Person as defined in National Instrument 43-101. The technical contents of this news release have been reviewed and approved by Dr. Terry.
About the Amarillo Grande Project
The Company's 100% owned Amarillo Grande Uranium-Vanadium Project in Rio Negro Province, Argentina is a new uranium district controlled by Blue Sky. The Ivana deposit is the cornerstone of the Project and the first part of the district for which both a Mineral Resource Estimate and a Preliminary Economic Assessment have been completed. Mineralization at the Ivana deposit has characteristics of sandstone-type and surficial-type uranium-vanadium deposits. The sandstone-type mineralization is related to a braided fluvial system and indicates the potential for a district-size system. In the surficial-type deposits, mineralization coats loosely consolidated pebbles, and is amenable to leaching and simple upgrading.
The Project includes several other target areas over a regional trend, at or near surface. The area is flat-lying, semi-arid and accessible year-round, with nearby rail, power and port access. The Company's strategy includes delineating resources at multiple areas and advancing the project to prefeasibility level.
For additional details on the project and properties, please see the Company's website: www.blueskyuranium.com.
About Blue Sky Uranium Corp.
Blue Sky Uranium Corp. is a leader in uranium discovery in Argentina. The Company's objective is to deliver exceptional returns to shareholders by rapidly advancing a portfolio of surficial uranium deposits into low-cost producers, while respecting the environment, the communities, and the cultures in all the areas in which we work. Blue Sky has the exclusive right to properties in two provinces in Argentina. The Company's flagship Amarillo Grande Project was an in-house discovery of a new district that has the potential to be both a leading domestic supplier of uranium to the growing Argentine market and a new international market supplier. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
"Nikolaos Cacos"
______________________________________
Nikolaos Cacos, President, CEO and Director
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.
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's plans for its mineral properties; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company; and future exploration and operating plans are forward-looking statements.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the impact of COVID-19; risks and uncertainties related to the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
SOURCE Blue Sky Uranium Corp.
For further information please contact: Corporate Communications, Tel: 1-604-687-1828, Toll-Free: 1-800-901-0058, Email: info@blueskyuranium.com
Valleyview Resources Announces Proposed Acquisition of Shift Rare Metals
https://www.newsfilecorp.com/release/220524
August 20, 2024 8:00 AM EDT | Source: Valleyview Resources Ltd.
Vancouver, British Columbia--(Newsfile Corp. - August 20, 2024) - Valleyview Resources Ltd. (TSXV: VVR) ("Valleyview" or the "Company") is pleased to announce that it has entered into a definitive agreement dated August 16, 2024 (the "Acquisition Agreement") to acquire all of the outstanding shares of Shift Rare Metals Inc. ("Shift") by way of a three-cornered amalgamation (the "Proposed Transaction"). Shift is an arm's length privately held British Columbia company which, through its wholly owned U.S. subsidiary, has staked certain claims in northwestern Colorado known as the Coyote Basin claims and the Red Walsh claims (together, the "Properties").
About the Properties
The Properties are located on northwestern Colorado close to the border with Utah, within Moffat and Rio Blanco counties. Several known Colorado Plateau-type uranium-vanadium showings and deposits have been found historically in the area. According to the Colorado Geological Survey's Bulletin No. 40 published in 1978, a total of 4.2 million pounds of U3O8 has been produced from regional historical mine operations from the 1950's through 1970's from Moffat County and another 223,000 pounds from Rio Blanco County (see https://coloradogeologicalsurvey.org/publications/bibliography-radioactive-minerals-colorado/.).
The reader is cautioned that the past uranium production information is historical in nature and to the Company's knowledge, a qualified person has not done sufficient work to confirm this estimate of historical uranium production from the area.
The key part of the Proposed Transaction is the acquisition of the Coyote Basin claims, which are 699 claims totaling approximately 14,000 acres (5,665 ha) located approximately 8 miles (13 km) southeast of Elk Springs, Colorado. The property is underlain by the sandstones of the Lower Wasatch Formation and shales and sandstones of the Fort Union Formation and straddles the gently east-plunging Crooked Wash Syncline and Midland Anticlinal structures. In their September 2006 SEC quarterly filings, historical property owner Energy Metals Corporation reported historical resources of 8,850,000 tons averaging 0.20% U3O8 and 0.10% V2O5 for a total of 35.4 million pounds of U3O8 and 17.7 million pounds of V205 on the Coyote Basin Property. Energy Metals Corporation indicated that the resource was estimated during the 1970's by then project operator Western Mining Resources using surface sampling, coring, and drill chip sampling of 24 holes over a 4 mile (6 km) strike length. (See https://www.sec.gov/Archives/edgar/data/1361605/000106299306003601/exhibit99-2.htm).
To the Company's knowledge, a qualified person has not done sufficient work to classify these historical estimates as current mineral resources. The Company is not treating this information as current mineral resources, has not verified this information and is not relying on it. The Coyote Basin Project and any future NI 43-101 resource estimate will require considerable further evaluation, which the Company's management intends to carry out in due course.
As part of the Proposed Transaction, the Company has also acquired the Red Wash claims, a group of 207 newly staked claims located approximately 27 miles west (43.7 km) of the Coyote Basin Properties, totaling 5,424 acres (2194 ha). This Red Wash Property covers almost 15 km of the northern limb of the east-west striking Red Wash Syncline, which hosts multiple known uranium-bearing sandstone and carbonaceous units within the upper Mancos Formation, including the Sego Sandstone.
Proposed Transaction Terms
Pursuant to the Acquisition Agreement, on closing of the Proposed Transaction, the Company has agreed to issue 11,000,000 on a post Share Split basis ("Post-Split Common Shares") and pay US$250,000 to the shareholders of Shift (the "Shift Shareholders").
In addition, the Company has agreed to (i) issue 4,500,000 Post-Split Common Shares and pay an additional US$250,000 to the Shift Shareholders upon the issuance of a technical report on the Properties; and (ii) issue an additional 4,500,000 Post-Split Common Shares and pay an additional US$500,000 to the Shift Shareholders upon the issuance of a mineral resource estimate on Coyote Basin claims of 28.75 M lbs of U308 (the "Second Milestone Payment"). In the event the mineral resource estimate is at least 17.7 M lbs U308 but less than 28.75 M lbs, the Second Milestone Payment will be reduced on a pro rata basis. No Second Milestone Payment will be due if the resource estimate is less than 17.7 M lbs of U308. Finally, the Acquisition Agreement provides that, in the event a mineral resource estimate is issued on certain claims in the vicinity of the Red Walsh claims which Shift intends to acquire prior to closing of the Proposed Transaction (the "Additional Claims"), for each 5 M lbs of U308 (up to a maximum of 45 M lbs of U308) contained in such estimate, the Company will issue 2,222,222 Post-Split Common Shares and pay US$1,111,111 (the "Contingency Payment"). The Contingency Payment would be split 50/50 between the Shift Shareholders and certain third-party lenders to Shift. The Company has also agreed to facilitate a loan to Shift of up to US$650,000 (up to US$310,000 of which may be advanced by the Company and the remainder of which would be advanced by third parties) for payments due on the Properties and to acquire the Additional Claims. Subject to the approval of the TSX Venture Exchange, the Company has agreed to issue 1,000,000 Post-Split Common Shares to an arm's length finder in connection with the Proposed Transaction.
Prior to completion of the Proposed Transaction, the Company intends to conduct a share split (the "Share Split") on its outstanding common shares on the basis of 1.5 new common shares for each one outstanding common share. The Company currently has 12,750,000 common shares outstanding and, assuming there are no common shares issued in the interim period, it is anticipated that following the Share Split the Company will have 19,125,000 common shares outstanding (prior to completion of the Proposed Transaction). Completion of the Proposed Transaction is subject to a number of conditions, including, but not limited to, approval by the TSX Venture Exchange, approval by the Shift Shareholders and completion by the Company of a financing of Post-Split Common Shares at a minimum price of $0.30 per Post-Split Common Share for gross proceeds of not less $7,000,000 (the "Concurrent Financing"). Details of the Concurrent Financing will be provided once determined.
Trading of the Company's common shares will remain halted pending receipt and review of acceptable documentation pursuant to Section 5.6 (d) of TSX Venture Exchange Policy 5.3 regarding a Fundamental Acquisition.
Qualified Person
The scientific and technical information contained herein has been reviewed and approved by Roger Lemaitre, P.Eng., P.Geo., who is a consultant (and not independent) to the Company and a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Valleyview Resources Ltd.: Valleyview Resources Ltd. is a mineral exploration company dedicated to the identification, acquisition, and exploration of mineral properties, with a primary focus on the Fraser Lake property in British Columbia. The Company's strategic vision is to develop and expand its mineral resource portfolio through diligent exploration and development efforts.
For further information, please contact:
Joel Leonard
Chief Executive Officer
Valleyview Resources Ltd.
Tel: 778-838-3692
Email: joel.leonard@jclpartners.ca
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 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, the completion of the Proposed Transaction.
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 all conditions to completion of the Proposed Transaction will be satisfied, including TSX Venture Exchange, approval of the Shift Shareholders and completion of the Concurrent Financing. 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: the risk that the TSX Venture Exchange will not approve the Proposed Transaction, the risk that the Company will not be successful in completing the Concurrent Financing and inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties, stock market volatility and capital market fluctuations, 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: Valleyview Resources Ltd.
Forum Drilling Update, Aberdeen Uranium Project, Nunavut
https://www.newsfilecorp.com/release/220526
August 20, 2024 6:30 AM EDT | Source: Forum Energy Metals Corp.
Vancouver, British Columbia--(Newsfile Corp. - August 20, 2024) - Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") is pleased to announce that drilling at Forum's 100% owned Aberdeen Uranium Project has continued to intersect uranium mineralization, prolific structural and lithological controls and intense alteration at the Main and West deposits along the Tatiggaq Fault (Figure 1). A recent tour of Directors to the Aberdeen project and the Kiggavik Core Storage Facility with Forum's Geological Advisor, Dr. Peter Wollenberg, who discovered two of the largest deposits at Kiggavik, verified that the uranium mineralization processes on Forum's property are identical to the Kiggavik uranium deposits (Figure 2). Seventeen holes have been completed, totalling 4,307 metres along the Tatiggaq Fault within the 1.5km by 0.7km Tatiggaq anomaly (Figure 3). A total of 685 samples have been shipped to SRC Laboratories in Saskatoon, Saskatchewan for analysis. Results are expected by the end of September.
Rick Mazur, President & CEO, stated, "We thank Orano for access to their drill core storage facility for the three deposits at the 133 million pound Kiggavik deposit. Our visit to the Aberdeen project and the Kiggavik core storage area validates our view that we are in an emerging uranium district for unconformity-style uranium deposits akin to the prolific Athabasca Basin."
The Company has entered into Phase Two of its drill program. One drill has moved to the Qavvik deposit and Forum will now focus on a number of other high priority targets on the property for basement-hosted and sandstone-covered unconformity targets The Company's 30-person drill camp and crew have performed well over the summer (Figure 4). Drilling is expected to continue for another four to six weeks.
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.
Marketing Agreement
At the request of the TSX Venture Exchange (the "TSXV") the Company wishes to provide certain disclosure with respect to an advisory agreement (the "Agreement") it has entered into with DS Market Solutions Inc. ("DS Market Solutions"), with effect as of July 1, 2024. DS Market Solutions is an equity trading advisory and liquidity provider located in Mississauga, Ontario. Pursuant to the Agreement DS Market Solutions has agreed to provide the Company with liquidity services (the "Services") in compliance with the provisions of TSXV Policy 3.4, with the object of enhancing market depth and increasing liquidity of the Company's common shares. The Agreement is on a month-by-month basis and provides for remuneration of $5,000 per month, plus applicable taxes. The $5,000 comes from the Company's working capital and DS Market Solutions has confirmed that it uses its own funds and securities in providing the Services and, other than securities used for liquidity purposes, it has no interest, directly or indirectly, in the securities of the Company nor has it any right to acquire same. It has also confirmed that, to the extent needed, DS Market Solutions provides the Services through Canaccord Direct DMA.
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 area, 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/4908/220526_8742a6a574684a91_003full.jpg
Figure 2 Review of Andrew Lake uranium deposit core at the Kiggavik Core Storage Facility.
From left to right, Peter Wollenberg, Forum Geological Advisor; Brian Christie, Forum Director; Rebecca Hunter, Forum Vice President, Exploration.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/220526_fig2forumenergy.jpg
Figure 3 Tatiggaq gravity anomaly, 2023 drill holes and 2024 Phase One drilling to the west-southwest and the east-northeast along the Tatiggaq Fault. Ambient Noise Tomography (ANT) modelled sub-parallel east-northeast-trending faults have also been targeted.
To view an enhanced version of this graphic, please visit:
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Figure 4 Forum's newly-constructed 30-person drill camp located on Aberdeen Lake at the western end of the property.
To view an enhanced version of this graphic, please visit:
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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. 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.
Sienna More Than Doubles its Acreage Bordering Cameco Corporation in the Athabasca Basin of Saskatchewan
https://www.newsfilecorp.com/release/220503
August 20, 2024 3:01 AM EDT | Source: Sienna Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - August 20, 2024) - Sienna Resources Inc. (TSXV: SIE) (OTC Pink: SNNAF) (FSE: A1XCQ0) ("Sienna" or the "Company") is pleased to announce that it has more than doubled its acreage on the Dragon Uranium Project directly bordering Cameco Corporation (CCO) in the world-class uranium district of the Athabasca Basin. This project now consists of 23,134 contiguous acres. Sienna Resources' management cautions that past results or discoveries on properties in proximity to Sienna Resources may not necessarily be indicative of the presence of mineralization on the company's properties. Management is formulating plans for the Athabasca Basin Uranium projects.
Jason Gigliotti, President of Sienna Resources Inc. stated, "We are very pleased to significantly increase our acreage directly bordering Cameco Corporation (CCO.t) in the Athabasca Basin. The Athabasca Basin is world renowned as the world's highest grade uranium district and home to many of the world's largest and highest grade uranium discoveries. There has been a renewed interest in uranium recently as the USA's first new major uranium project in 30 years has just come on line in Georgia. Sienna also just increased its landholdings bordering Ramp Minerals Inc in Saskatchewan. Sienna is one of the larger landholders in this exciting new gold mining camp and with Eric Sprott taking a major stake in the area it shows the promises of this new potentially world-class mining district. Sienna management is currently developing plans to move forward on this large sized new gold project at a time when gold is at all-time highs. Sienna is coming into a very active period and management is very optimistic about the short and long term growth drivers in place now."
Recently (July 22, 2024), Sienna significantly increased its acreage on the Stonesthrow Gold Project in Saskatchewan now consisting of approximately 18,350 contiguous acres prospective for gold directly bordering Ramp Metals Inc (RAMP). Ramp announced (June 17, 2024) multiple zones of gold mineralization, including 73.55 grams per tonne gold and 19.50 grams per tonne silver. Ramp has just announced a strategic investment led by Eric Sprott for the drilling of this prospect. Sienna Resources' management cautions that past results or discoveries on properties in proximity to Sienna Resources may not necessarily be indicative of the presence of mineralization on the company's properties.
Recently, (May 23, 2024) Sienna acquired Case Lake West Cesium and Spodumene Pegmatite Project in the Larder Lake Mining division of Ontario, Canada, roughly 100 km north of Kirkland Lake, NE Ontario. This project consists of approximately 2,200 contiguous acres prospective for Cesium and Spodumene Pegmatites directly bordering Power Metals Corp's (PWM) Case Lake cesium and pegmatite swarm discovery. On May 22, 2024 Power Metals announced "WORLD-CLASS CESIUM RESULTS UP TO 18.13% AT CASE LAKE." This was very exciting news regarding this growing cesium district. Sienna management cautions that past results or discoveries on properties in proximity to Sienna may not necessarily be indicative of the presence of mineralization on the company's properties.
About Sienna Resources Inc.
Sienna has acquired the "Stonesthrow Gold Project", consisting of approximately 18,350 contiguous acres prospective for gold. Sienna has also recently acquired the "Case Lake West Cesium and Spodumene Pegmatite Project" in Larder Lake Mining division of Ontario, Canada roughly 100 km north of Kirkland Lake, NE Ontario. This project consists of approximately 2,200 contiguous acres prospective for Cesium and Spodumene Pegmatites. Sienna has also just acquired the 10,357 acre "Uranium Town Project" bordering Denison Mines Corporation (DML, DNN) , the now 23,134 contiguous acre "Dragon Uranium Project" bordering Cameco Corporation (CCO, CCJ) and the 55,440 acre "Atomic Uranium Project" in the world renowned Athabasca Basin of Saskatchewan. Also, Sienna recently expanded the "Elko Lithium Project" in Elko County, Nevada. This project consists of approximately 1840 contiguous acres directly bordering Surge Battery Metals' (NILI) "Nevada North Lithium Project" in Elko County, Nevada who announced the highest grade lithium deposit in the USA. Sienna is also one of the larger landholders in Clayton Valley Nevada. Sienna's Clayton Valley projects include the Blue Clay Lithium Project, the Silver Peak South Project, and the Clayton Valley Deep Basin Lithium Project. Clayton Valley is home to the only lithium production in North America, being Albemarle Corp's (NYSE: ALB) Silver Peak deposit. This project is also near Tesla Motors Inc.'s (NASDAQ: TSLA) Gigafactory in Nevada. On March 18, 2021, Schlumberger New Energy Venture (NYSE: SLB) announced the development of a lithium extraction pilot plant through its new venture, NeoLith Energy in a strategic partnership with Pure Energy (TSXV: PE). The deployment of the pilot plant will be in Clayton Valley, Nevada, USA. The NeoLith Energy sustainable approach uses a differentiated direct lithium extraction (DLE) process to enable the production of high-purity, battery-grade lithium material while reducing the production time from over a year to weeks. Results from this pilot plant are expected in 2024 and could have a significant impact on the brine prospects within Clayton Valley Nevada as Sienna is located in the deepest section of this brine deposit.
This new acreage was acquired via staking.
Qualified Person:
Mr. Frank Bain, PGeo, a qualified person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained within this news release.
If you would like to be added to Sienna's email list, please email info@siennaresources.com for information or join our twitter account at @SiennaResources.
Contact Information
Tel: 1.604.646.6900
Fax: 1.604.689.1733
www.siennaresources.com
info@siennaresources.com
"Jason Gigliotti"
President, Director
Sienna Resources Inc.
Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections - statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", "potential", "should", "anticipates", "likely", "believes" and words of similar import tend to identify forward-looking statements. Forward-looking statements in this news release include uncertainty of exploration and development plans regarding the property; commodity price fluctuations; political or economic instability and regulatory changes; currency fluctuations, the state of the capital markets; uncertainty in the measurement of mineral reserves and resource estimates; the Company's ability to attract and retain qualified personnel and management; potential labour unrest; reclamation and closure requirements for mineral properties and the availability of capital to fund the Company's projects, as well as other risks and uncertainties identified under the heading "Risk Factors" in the Company's continuous disclosure documents filed on SEDAR. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. The Company cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. These forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and the Company does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on 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 press release.
SOURCE: Sienna Resources Inc.
Saville Announces Uranium Asset Acquisition in Hornby Basin, Nunavut Territory
https://www.accesswire.com/902696/saville-announces-uranium-asset-acquisition-in-hornby-basin-nunavut-territory
Friday, 16 August 2024 07:50 PM
VANCOUVER, BC / ACCESSWIRE / August 16, 2024 / Saville Resources Inc. (TSXV:SRE)(FSE:S0J) (the "Company") is pleased to announce that it has entered into an agreement (the "Agreement") with 2362516 Ontario Inc. ("PrivCo") to acquire six mineral leases (the "Leases") in the Hornby Basin, Nunavut Territory (the "Transaction").
About PrivCo and the Property
PrivCo is a private company incorporated pursuant to the laws of Ontario and headquartered in Toronto, Ontario.
The property is located in the Hornby Basin, Nunavut Territory and is comprised of 6 mineral leases comprising a total land area of approximately 6,201 ha (~62 km2). Between 1996 and 2004 the leases were part of a land package controlled by Hornby Bay Exploration Ltd, which spent approximately $10 million on exploration and completed a technical report in 2004.
Transaction Terms
Pursuant to the Agreement, the Company has agreed to issue 12,500,000 Common Shares to a syndicate of vendors led by PrivCo in consideration of the acquisition of a 100% legal and beneficial interest in the Leases.
Upon closing of the Transaction, the Company will add the Leases to its existing property portfolio, and further assess the exploration and development potential thereof. Following the closing of the Transaction, the Company may also target other mineral exploration opportunities if it determines such targets have sufficient geological or economic merit and if the Company has adequate financial resources to complete such acquisitions.
Closing of the Transaction is subject to the satisfaction of customary closing conditions, including TSXV acceptance, as well as applicable board approvals.
On behalf of the Board of Directors
SAVILLE RESOURCES INC.
"Rob Leckie"
Rob Leckie, CEO
Tel: 604.681.1568
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the TSX Venture Exchange nor its Regulation Service 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 does not constitute an offer to sell or 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 a U.S. person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Forward-Looking Statements
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include but are not limited to market conditions and the risks detailed from time to time in the filings made by the Company with securities regulators. 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. The reader is cautioned not to place undue reliance on any forward-looking information, including, but not limited to, statements regarding the Transaction, including the closing of the Transaction, the Company's anticipated business and operational activities following the closing of the Transaction, the anticipated satisfaction of closing conditions and receipt of regulatory approvals for the Transaction, the prospects of the Property, and the Company's plans with respect to the exploration of the Property. Factors that could cause actual results to vary from forward-looking statements or may affect the operations, performance, development and results of the Company's business include, among other things, the ability of the parties to satisfy the conditions to closing of the Transaction in a timely manner (or at all); the Company's receipt of all regulatory approvals necessary to complete the Transaction in a timely manner (or at all); the risk that the Transaction is not completed; the risk that the Transaction does not result in the anticipated benefits to the Company, including that the Company is unable or determines not to carry out exploration or development work on the Property; the Company's ability to generate sufficient cash flow to meet its current and future obligations; that mineral exploration is inherently uncertain and may be unsuccessful in achieving the desired results; that mineral exploration plans may change and be re-defined based on a number of factors, many of which are outside of the Company's control; the Company's ability to access sources of debt and equity capital; competitive factors, pricing pressures and supply and demand in the Company's industry; and general economic and business. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
SOURCE: Saville Resources Inc.
Bedford Metals Identifies Multiple Radioactive Zones at Ubiquity Lake Uranium Project
https://ca.finance.yahoo.com/news/bedford-metals-identifies-multiple-radioactive-060000899.html
Bedford Metals Corp.
Sun, August 18, 2024 at 11:00 p.m. PDT·5 min read
URGYF
+1.99%
VANCOUVER, British Columbia, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Bedford Metals Corp. (TSX-V: BFM, FWB: O8D, ISIN: CA0762301012) (the “Company” or “Bedford”) is pleased to announce the completion of its Phase 1 prospecting program at the Ubiquity Lake Uranium Project in Northern Saskatchewan. The purpose of the program was to map historic showings, as well as high-value target zones identified through historic prospecting and geophysical programs. As part of the survey, the entire claim block was surveyed with state-of-the-art RS100 scintillometers to establish a baseline and investigate radioactive target zones.
Of particular interest, the crew identified two previously undiscovered radioactive zones.
ZONE 1: The Ubiquity West Radioactive Zone is 350m x 350m, northwest of Ubiquity Lake, and displays consistently elevated spectrometer readings of 200-500 CPS with peak readings of up to 3613 CPS.
ZONE 2: The Warr Lake Radioactive Zone consists of 5 large outcrop groups to the west of Warr Lake, each measuring roughly 150m x 350m along ridges. The Warr Lake outcrops, which are adjacent to a regional fault, display elevated spectrometer readings in the 150-400 CPS range, with peak readings as high as 7472 CPS.
In addition, hematite-altered granitic rock with folded schist and gneiss were observed throughout the Ubiquity West outcrop zone and the Warr Lake outcrops. A total of 60 rock samples were collected from exposed outcrops and boulders. Assay results will be available in the near term.
Peter Born, President of Bedford, commented, “We are extremely pleased with the discovery of the new radioactive zones at a Ubiquity Lake. Results for this program will be integrated into the growing database with the ultimate intention of discovering an economic uranium deposit.”
Background:
The principal target zones at the Ubiquity Lake Uranium Project are northwest-trending subsurface conductive anomalies identified through a 2014 VTEM survey completed by Noka Resources Inc. and Alpha Exploration Inc. Additionally, the Company will be exploring conductive anomalies identified through a 2007 GEOTEM survey completed by Stikine Gold Corporation. A ground survey conducted in 2014 yielded numerous radioactive samples, with readings up to 2000 cps.
In 2014, a helicopter-borne EM and magnetic survey carried out by Aeroquest and Condor Consulting Inc. identified 13 target zones needing follow-up field exploration. The target model is structurally controlled conductive graphitic zones within the basement rocks that could potentially host uranium deposits. The predicted depth to the basement is less than 50 m, which was consistently achieved throughout the survey area. The Company will investigate areas with electromagnetic-magnetic targets and areas with anomalous uranium in surface outcrops.
Given the project’s proximity to the southern lip of the Athabasca Basin, the Company is pursuing an exploration model similar to Fission’s Patterson Lake South Deposit and NexGen’s Arrow Deposit, which are shear-hosted basement deposits with continuity at depth.
Bedford remains committed to conducting all exploration activities focusing on environmental responsibility. The Company prioritizes minimizing its ecological footprint and ensuring that all operations are sustainable and responsible. Additionally, Bedford values its relationships with local communities and indigenous groups and is committed to working collaboratively with these stakeholders to ensure its activities bring positive benefits to the region.
Dr. Peter Born, P.Geo., is the designated qualified person as defined by National Instrument 43-101 and the President of the Company and is responsible for and has approved the technical information in this release.
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.
The Close Lake Uranium Project lies on the eastern side of the Athabasca Basin, adjoining claims held by Cameco Corporation, the largest uranium producer in the world. The claim is approximately 245 hectares and lies within the primary exploration corridor, which hosts the Keys Lake Mine, the Cigar Lake Mine, and the McArthur River Mine. Access to the property is done through a network of roads and trails.
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.
The Sheppard Lake Uranium Project covers an area of approximately 2250 hectares and adjoins the Ubiquity Lake Project to the southeast. The project area is characterized by rocks of the Mudjatik domain, where uranium mineralization is typically basement-hosted, situated within shears or faults, and formed through hydrothermal redistributions of dissolved metals and subsequent redox reactions.
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
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/3ddf7b00-c6e2-4958-ba2f-42aae1d653e3
https://www.globenewswire.com/NewsRoom/AttachmentNg/fa90201a-aa63-4647-baca-eff0f1f08a27
NexGen Announces Best Hole (RK-24-207) to Date and Material Expansion of Mineralized Zone at Patterson Corridor East
https://www.prnewswire.com/news-releases/nexgen-announces-best-hole-rk-24-207-to-date-and-material-expansion-of-mineralized-zone-at-patterson-corridor-east-302217775.html
NexGen Energy Ltd. Aug 08, 2024, 06:30 ET
VANCOUVER, BC, Aug. 8, 2024 /PRNewswire/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG)
Indigo Reports Transaction Closing on Hot Uranium Project, Wyoming
https://www.newsfilecorp.com/release/220035
August 15, 2024 9:20 AM EDT | Source: Indigo Exploration Inc.
Vancouver, British Columbia--(Newsfile Corp. - August 15, 2024) - Indigo Exploration Inc. (TSXV: IXI) (OTCQB: IXIXF) FSE: INEN) (the "Company") is pleased to announce that further to its news release dated July 9, 2024, it has received TSX Venture Exchange ("TSXV") approval for and completed the acquisition of a 100% interest in the Hot Property (the "Property"), a highly prospective uranium project located in the past producing Shirley Basin of Wyoming, comprised of 71 unpatented mineral claims covering a 5.75 km2 area (the "Acquisition").
The Hot Property claims have seen extensive historical exploration dating back to the 1960's with over 200 holes drilled including near-surface intercepts of 1.83 metres of 1.1% U3O8 at a depth of 43.0 metres and 3.35 metres of 0.28% U3O8 at a depth of 26.8 metres. The Project is located adjacent to Uranium Energy Corp.'s (UEC-NYSE) Shirley Basin project, Ur-Energy Inc.'s (URG-NYSE) Shirley Basin mine, and Nuclear Fuels Inc.'s (NF-CSE) Bobcat Uranium Project. Ur-Energy's Shirley Basin project hosts an NI 43-101 Measured and Indicated Resource of 8.8 Mlb U3O8 grading 0.23%1 and is currently under construction2.
The Shirley Basin of Wyoming
Wyoming represents the largest uranium producing state and contains the greatest uranium ore reserves within the United States. The Shirley Basin located 40 miles southwest of Casper, Wyoming, produced over 51 million pounds of U3O8 from 1960 to 1992 at an average grade of 0.22% U3O8. The Shirley Basin mines closed not for a lack of resource but due to lower uranium prices. The importance and relevance of the Shirley Basin today is reflected in production resurgence with Ur-Energy's production plans.
Figure 1: Shirley Basin Uranium Project Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3717/220035_0236b77484564be3_001full.jpg
Hot Property
The Hot Property is strategically located just 800m east (0.5 mile) of an historic production area and 1.8km (1.1 miles) from Ur-Energy's uranium resource. Indigo uncovered 202 drill logs from public records from holes drilled in the 1950's on ground now covered by the Hot Property. One intercept (H1-Zeb-44) encountered 1.83m of 1.1% U3O8 at a depth of 43.0m and a second hole (H6-Zeb-44) encountered 3.35m of 0.28% U3O8 at a depth of 26.8m. Of the 202 holes, approximately 46% intercepted shallow uranium mineralization. Depth to mineralization ranges from 3m to 130m but average 46m deep in Eocene-aged Wind River Formation, the uranium host unit in the Shirley Basin. The Hot Property is particularly promising as one third of the mineralized holes on the property have two or more uranium intercepts.
Company geologists have designed an initial 50-hole reverse circulation drill program and has submitted a Notice of Intent permit application to the BLM for permitting of the RC drill program.
1 Updated Initial Assessment Technical Report Summary on Shirley Basin ISR Uranium Project, Carbon County Wyoming, USA dated March 4, 2024 and prepared by Western Water Consultants, Inc.
2 Ur-Energy Announces Decision to Build Out Shirley Basin Mine: Press Release dated March 13, 2024
Terms of Transaction
Pursuant to the Acquisition, the Company has acquired a 100% interest in a private limited liability Arizona company which holds the Property claims. The Company has paid an aggregate of CDN$20,000 and made a share issuance of 200,000 shares of the Company to earn the 100% interest, without any NSR royalty. In addition to the Acquisition costs, the Company will assume the annual land holding costs for the Property, which will amount to US$14,200 before September 1, 2024. The transaction closed on August 14, 2024.
On Behalf of the Board of Directors,
"Paul Cowley", President and CEO
For further information, please contact: Paul Cowley: (604) 340-7711 Website: www.indigoexploration.com
Bradley Parkes, P.Geo., VP Exploration and Director of Indigo Exploration Inc., is the Qualified Person as defined in
National Instrument 43-101, who has read and approved the technical content of this news release.
This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. The forward-looking statements contained in this press release are made as of the date hereof.
Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
SOURCE: Indigo Exploration Inc.
Kraken Energy Provides Corporate Update
https://www.newsfilecorp.com/release/220007
August 15, 2024 8:00 AM EDT | Source: Kraken Energy Corp.
Vancouver, British Columbia--(Newsfile Corp. - August 15, 2024) - Kraken Energy Corp. (CSE: UUSA) (OTCQB: UUSAF) (FSE: F2C) (the "Company" or "Kraken") is pleased to announce that, in partnership with optioned partner Atomic Minerals Corporation ("Atomic Minerals") (TSXV: ATOM), it has completed their application for submission to the Bureau of Land Management ("BLM") for drilling permits for up to fifteen holes at the Harts Point Uranium Property ("Harts Point" or the "Property") in San Juan County, Utah.
"With confirmation of radiometric anomalies over significant widths on our maiden drilling program at Harts Point, we are excited to continue moving forward on the property at our earliest opportunity," stated CEO Matthew Schwab. "We are excited to move forward jointly with the expertise of the team at Atomic Minerals, and while the rest of 2024 will be focused on Kraken's flagship Apex property in Nevada, we aim to be permitted and prepared to move forward again with Harts Point in early 2025."
The planned drilling program aims to explore and evaluate the potential uranium mineralization within the favorable uranium bearing sandstone units of the Chinle Formation at Harts Point, building on a previous successful Phase I drilling campaign. This collaboration with Atomic Minerals underscores both companies' commitment to advancing exploration and development projects in this promising region.
Harts Point Property Highlights:
World class uranium jurisdiction: located in the center of the Colorado Plateau, which has produced over 590 million ("M") pounds ("lbs") U3O8 at 0.2 to 0.4% U3O8 since the 1950s1,5-8.
Property consists of 324 lode mining claims on Bureau of Land Management ("BLM") ground that covers an area of 2,622 hectares ("ha") (6,480 acres).
Harts Point Anticline is Analogous to the Lisbon Valley Anticline: where the Lisbon Valley Uranium District hosted 17 large uranium mines which produced approximately 80M lbs U3O8 at 0.34% U3O8 from 1948 to 19882.
The dimensions of these tabular sandstone-hosted uranium deposits range from 2 to 13 m (7 to 43 feet) thick, 100 to 3,048 m (328 to 10,000 feet) long, and 31 to 427 m (100 to 1,400 feet) wide3.
Significant Historic Uranium Production:
Several historic mines located 11 km (7 miles) west of the Harts Point Property produced approximately 280,000 lbs U3O8 at 0.3% U3O8 from the favorable Chinle Formation host rock4.
The Lisbon Valley Anticline is located 31 km (19 miles) to the east of the Harts Point Property produced approximately 80M lbs U3O8 0.34% U3O82.
Excellent Infrastructure: located approximately 64 km (40 miles) north of the White Mesa uranium processing facility.
There is also excellent access throughout the Property, which is situated 45 km (28 miles) from the town of Monticello, Utah.
Figure 1: Harts Point Property
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8684/220007_0ec0ccccd4737ac3_001full.jpg
Private Placement:
The Company also announces that, further to its news release dated June 28th, 2024, it will not be proceeding with the final tranche of the non-brokered private placement offering.
References
1 Holger Albrethsen, Jr. and Frank E. McGinley (1982). Summary History of Domestic Procurement Under U.S. Atomic Energy Commission Contracts, September 1982.
2 Chenoweth, W.L. (1990). Lisbon Valley, Utah's Premier Uranium Area, a Summary of Exploration and Ore Production. Utah Geological Survey Open File Report 188, July 1990.
3 Gordon W. Weir and Willard P. Puffett (1981). Incomplete manuscript on stratigraphy and structural geology and uranium-vanadium and copper deposits of the Lisbon Valley area, Utah-Colorado. Open-File Report 81-39. Pages 153 to 163. United States Department of the Interior
Geological Survey.
4 Chenoweth, W.L. (1993): The geology and Production History of the Uranium deposits in the White Canyon Mining District, San Juan County, Utah, Utah Geological Survey Miscellaneous Publication 93-3.
5 Mills, Stephanie E. and Bear Jordan (2021). Uranium and Vanadium Resources of Utah: An Update in the Era of Critical Minerals and Carbon Neutrality, Open File Report 735, Utah Geological Survey.
6 Chenoweth, William 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, Western Slope Colorado.
7 McLemore, Virginia T. and Willam L. Chenoweth (1989). Uranium Resources in New Mexico, Resource Map 18, New Mexico Bureau of Mines and Mineral Resources.
8 Chenoweth, William L. and Virginia T. McLemore (1989). Uranium Resources on the Colorado Plateau in Energy Frontiers in the Rockies, Albuquerque Geological Society.
Technical Information
All scientific and technical information in this news release has been prepared by or reviewed and approved by Matthew Schwab, P.Geo., President and CEO of the Company, and Garrett Ainsworth, P.Geo., Chairman of the Company. Each of Mr. Schwab and Mr. Ainsworth is a Qualified Person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
The data disclosed in this news release is related to historical drilling results. Kraken 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. Kraken considers these historical drill results relevant as the Company is using this data as a guide to plan exploration programs. The Company's current and future exploration work includes verification of the historical data through drilling.
About the Harts Point Property
Harts Point is located in the center of the Colorado Plateau, referred to by some as "the Athabasca Basin of the US" and is 64 kilometers ("km") (40 miles) north of the White Mesa Uranium Mill, the only fully licensed and operating conventional uranium mill in the United States. The Property consists of 324 lode mining claims on Bureau of Land Management ("BLM") ground and drill permits are in place for up to 20 exploration drill holes.
About Kraken Energy Corp.
Kraken Energy Corp. is an energy company advancing its portfolio of high-grade uranium properties in the Unites States. The Company is advancing its 100%-owned Apex Uranium Property, located 280 km (174 miles) east from Reno, Nevada which is recognized as Nevada's largest past-producing uranium mine. The Company has additionally entered into an option agreement to earn 100% of the Garfield Hills Uranium Property. The past-producing Garfield Hills Uranium Property covers 1,238 ha (3,060 acres) and is located 19 km (12 miles) east of Hawthorne in Mineral County, Nevada. Kraken has also staked the Huber Hills Uranium Property, located 136 km (85 miles) north of Elko, Nevada which covers 1,044 ha (2,580 acres) and encompasses the historic Race Track open pit mine. The Company has also entered into an option agreement to earn 75% of the Harts Point Uranium Property. The Harts Point Uranium Property covers 2,622 ha (6,480 acres) and is located 49 km (30 miles) northwest of Monticello in San Juan County, Utah.
For more information about the Company, please visit; www.krakenenergycorp.com.
On Behalf of the Board of Kraken Energy Corp.
Matthew Schwab
President & Chief Executive Officer
Corporate Office:
Suite 907 - 1030 West Georgia Street
Vancouver, British Columbia
V6E 2Y3
T: (604) 628-2669
For investor relations inquiries, contact:
Kin Communications Inc.
T: (604) 684-6730
E: uusa@kincommunications.com
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward-looking statements in this press release include our plans for exploration at the properties. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, conditions changing such that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine can be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
SOURCE: Kraken Energy Corp.
IsoEnergy Generates Six New, High-Priority Drill Targets at Larocque East Project Following ANT Surveys
https://www.newswire.ca/news-releases/isoenergy-generates-six-new-high-priority-drill-targets-at-larocque-east-project-following-ant-surveys-806805364.html
IsoEnergy Ltd. Aug 15, 2024, 07:00 ET
TORONTO, Aug. 15, 2024 /CNW/ - IsoEnergy Ltd. ("IsoEnergy" or the "Company") (TSX: ISO) (OTCQX: ISENF) is pleased to provide an update on its summer exploration program at the Larocque East Project (the "Project"), located in the eastern Athabasca Basin (Figure 1). The Company has successfully completed Ambient Noise Tomography ("ANT") surveys covering an additional 20 km2 constituting the remaining eastern extent of the property not previously covered. The surveys outlined six additional highly prospective target areas on strike of the Hurricane deposit to the east. To date, 23 diamond drill holes of the planned 27-hole program have been completed as part of the ongoing summer exploration program, totaling 9,660 meters, the results of which will be forthcoming on completion of the program anticipated in late August.
Figure 1 – Location map of the Hurricane deposit and IsoEnergy exploration projects in the eastern Athabasca Basin. (CNW Group/IsoEnergy Ltd.)
Figure 2 – The Hurricane deposit footprint illustrating the close proximity of the three pre-discovery drill holes (KER-07, 11 & 12) and the IsoEnergy discovery drill hole LE18-01A within the ANT Anomaly (CNW Group/IsoEnergy Ltd.)
Figure 3 – New ANT survey results from the eastern portion of the Larocque East Project illustrating six new target areas (E through to J). (CNW Group/IsoEnergy Ltd.)
Figure 4 – Altered sandstone 12 to 20 metres above the unconformity in Target Area B (LE24-181, 269.0- 276.7m). The core is strongly bleached with intervals of desilicification, strong clay alteration (lower three rows) and local secondary hematite (patchy in upper two rows). Mineral spectroscopy results are pending. (CNW Group/IsoEnergy Ltd.)
Figure 5 – Altered sandstone 17 to 35 metres above the unconformity in Target Area B (LE24-165, 269.7-288.1m). The core is strongly bleached with intervals of desilicification, strong clay alteration (mostly in the lower six rows) and local secondary hematite (some of the hematite in rows two to four). Mineral spectroscopy classifies the clay as 100% illite. (CNW Group/IsoEnergy Ltd.)
Figure 6 – Altered sandstone 35 to 55 metres above the unconformity in Target Area A (LE24-158, 242.4-263m). The core is pervasively bleached and exhibits limonite staining in strongly clay altered and desilicified rubbly intervals that make up about 50% of the photographed core. Mineral spectroscopy indicates an illite – dickite clay species mixture. (CNW Group/IsoEnergy Ltd.)
Figure 7 – Altered sandstone 10 to 30 metres above the unconformity in Target Area D (LE24-172, 260.7- 278.7m). The core is moderately to strongly bleached with patches of preserved purple diagenetic hematite. Much of the photographed interval is rubbly and desilicified, with local intervals of intense clay alteration and patchy secondary hematite. Mineral spectroscopy indicates an illite – dickite clay species mixture. (CNW Group/IsoEnergy Ltd.)
Figure 8 – Chloritized basement gneisses 5 to 10 metres below the unconformity in Target Area D (LE24-176, 283.4-289.5m). The mineral spectroscopy classification is dominated by sudoite (chlorite) with lesser illite. (CNW Group/IsoEnergy Ltd.)
Highlights:
ANT Surveys Underpinned by Proven Results at the Hurricane Deposit – ANT continues to be a critical tool for guiding exploration across the Project. Initially tested over the Hurricane deposit, the surveys successfully traced a low-velocity response that correlated with alteration and structural disruption seen in pre-discovery drilling by previous owner Cameco Corporation and IsoEnergy's discovery drilling (Figure 2).
ANT Survey Coverage Over the Full Eastern Extent Now Complete – Between May and August 2024, ANT surveys covered 20 km2 and over 7 kms of the prospective conductor corridor to the east of the Hurricane deposit, designed to assess the remaining eastern extent of the property which has seen limited previous drilling.
Survey Results Identified Six New Drill Targets – Newly identified targets from E through J, within two conductor corridors trend east-northeast and merge in apparent fold closure on the east end of the property as shown in Figure 3.
Expanded Summer Drilling Program to Test New Targets – Summer drilling at the Project to date has focused on target areas defined by the 2023 ANT surveys (Areas A – D). With the ANT results from the 2024 surveys in hand, the Company intends to expand the current program and test the new target areas (Areas E – J) (Figure 3).
Early Results Showing Strong Hydrothermal Alteration, Typically Associated with Uranium Mineralization – Drilling ANT target areas A, B and D have confirmed a strong correlation between low-velocity zones and alteration and structural disruption. Alteration, structural disruption and graphitic-pyritic basement units intersected in holes (Figures 4 to 8) continue to indicate that the Hurricane conductor corridor east of the deposit remains highly prospective.
Dr. Darryl Clark, Executive Vice President Exploration and Development, commented, "As our summer exploration program continues, we are encouraged by the recent ANT survey results, which highlight that the potential of the mineralizing system extends further to the east than was identified by historical exploration at Larocque East, uncovering numerous high-priority targets. We have now confirmed that the overall hydrothermal system extends over a proven strike length of more than 9 kms along a known conductor corridor, which hosts our high-grade Hurricane deposit. Reconnaissance drill testing of the new anomalies is already underway, with early results showing strong hydrothermal alteration in both the sandstone and basement—an indicator typically associated with uranium mineralization in the Athabasca Basin. Furthermore, it's common in the Athabasca Basin for these large uranium mineralizing systems to contain multiple deposit zones at the unconformity as well as transitioning into the basement. We believe this underscores the significant residual prospectivity of the Larocque East Project, as there remains a vast amount of untested potential."
Qualified Person Statement
The scientific and technical information contained in this news release was reviewed and approved by Dr. Darryl Clark, P.Geo., IsoEnergy's Executive Vice President, Exploration and Development, who is a "Qualified Person" (as defined in NI 43-101 – Standards of Disclosure for Mineral Projects).
For additional information regarding the Company's Larocque East Project, including its quality assurance and quality control procedures applied to the exploration work described in this news release, please see the Technical Report titled "Technical Report on the Larocque East Project, Northern Saskatchewan, Canada" dated August 4, 2022, on the Company's profile at www.sedarplus.ca.
About IsoEnergy Ltd.
IsoEnergy Ltd. (TSX: ISO) (OTCQX: ISENF) is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of Canada, the U.S., Australia, and Argentina at varying stages of development, providing near, medium, and long-term leverage to rising uranium prices. IsoEnergy is currently advancing its Larocque East Project in Canada's Athabasca Basin, which is home to the Hurricane deposit, boasting the world's highest grade Indicated uranium Mineral Resource.
IsoEnergy also holds a portfolio of permitted, past-producing conventional uranium and vanadium mines in Utah with a toll milling arrangement in place with Energy Fuels Inc. These mines are currently on stand-by, ready for rapid restart as market conditions permit, positioning IsoEnergy as a near-term uranium producer.
www.isoenergy.ca
Neither the TSX Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
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, the anticipated results thereof and the anticipating timing for reporting of such results. 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.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated and will be reported when anticipated, the price of uranium, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves, the limited operating history of the Company, the influence of a large shareholder, alternative sources of energy and uranium prices, aboriginal title and consultation issues, reliance on key management and other personnel, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals and the risk factors with respect to the Company set out in the Company's filings with the Canadian securities regulators and available under IsoEnergy's profile on SEDAR+ at www.sedarplus.ca.
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 IsoEnergy Ltd.
For More Information, Please Contact: Philip Williams, CEO and Director info @Scotty-572-2333, X: @IsoEnergyLtd
Atomic Minerals Announces 2024 Prospecting Program for Archie Lake Uranium Project, Northern Saskatchewan
https://www.newsfilecorp.com/release/219817
August 14, 2024 7:45 AM EDT | Source: Atomic Minerals Corp.
Vancouver, British Columbia--(Newsfile Corp. - August 14, 2024) - Atomic Minerals Corporation (TSXV: ATOM) ("ATOMIC MINERALS" or the "Company") is pleased to announce plans for its initial prospecting program at its 100% owned Archie Lake Project ("Archie Lake") in northern Saskatchewan. A Grander Exploration Ltd. eight-man prospecting team will undertake an extensive grab and chip sampling program to explore the 264-hectare property for basement-hosted hosted uranium mineralization in this active exploration area of northeast Saskatchewan.
Grander has identified target areas TZ1 and TZ2 (see July 18, 2024 News Release) after a detailed review of historic geophysical data. A first pass scintillometer survey with 25-meter spacing will cover the entire property, focusing on TZ1 and TZ2. Anomalous areas will be soil sampled and examined for bedrock with rock or Shaw drill sampling to follow.
Clive Massey, President & CEO of Atomic Minerals, commented, "We are excited to commence planning for our 2024 prospecting program at Archie Lake. This project represents a significant opportunity for Atomic Minerals, and we are confident that our systematic exploration approach will yield promising results. The use of advanced technology and meticulous planning underscores our commitment to uncovering the full potential of this uranium-rich region."
Archie Lake
Situated in northern Saskatchewan and straddling the southwestern edge of the Athabasca Basin, the Archie Lake Project lies contiguous to NexGen Energy's significant land package to the north, east, and west. NexGen's holdings in this area focus on repeats of its Arrow high-grade basement-hosted uranium deposit. The Athabasca Basin in Canada is renowned for hosting the vast majority of the world's high-grade uranium deposits. The Company is currently designing a multiphase exploration strategy to explore these target zones, with further details to be announced shortly.
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.
Atomic has not undertaken any independent investigation of the geophysical surveys, nor has it independently analyzed the results of the historical exploration work in order to verify the results. Atomic considers these historical geophysical surveys relevant as it is using these surveys as a guide to plan exploration programs.
Figure 1. Location of Target Zones 1 & 2 from Historic Falcon AGG Survey1
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10252/219817_2c87aae4f410486e_002full.jpg
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
(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.
###
1 Sourced: Analysis and Interpretation of Falcon Airborne Gravity Gradiometer Survey by Condor Consulting, Inc. for Nexgen Energy Ltd. - June 3, 2015 - Nicole Pendrigh, M.Sc. and Ken Witherly CPG-11536
SOURCE: Atomic Minerals Corp.
Madison Metals Granted Nuclear Fuels Licence For Khan Uranium Project in Namibia, Africa
https://ca.finance.yahoo.com/news/madison-metals-granted-nuclear-fuels-171400470.html
Madison Metals Inc.
Mon, August 12, 2024 at 10:14 a.m. PDT·2 min read
MMTLF
+67.25%
TORONTO, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Madison Metals Inc. (“Madison” or the “Company”) (CSE: GREN) (OTCQB: MMTLF) (FSE: 4EF0) is pleased to announce that the Ministry of Mines and Energy of Namibia has granted permission for nuclear fuels extraction to the Company’s active Mining Licence 86A (“ML-86A”), the same licence within Madison West that hosts the past-producing Khan Copper Mine and the recent discovery of high-grade uranium intrusions.
"I wish to extend my sincere gratitude to the Government of Namibia for supporting mining projects for the benefit of their citizens in a calculated and sustainable manner that provides further confidence to foreign investors,” said Duane Parnham, Executive Chairman and CEO for Madison. “On behalf of the Madison team, once again, I would like to offer heartfelt thanks to our Namibian partners for their professionalism, friendship, and unwavering support as we work together to systematically fast-track the Khan project back into production.”
Madison Metals remains dedicated to its mission of delivering value to shareholders and advancing world-class uranium assets while exploring complementary opportunities in base, precious, and critical metals.
The letter from the Ministry of Mines and Energy of Namibia granting permission for nuclear fuels extraction at ML-86A was dated August 1, 2024 and received by the Company on the afternoon of August 9, 2024.
About Madison Metals Inc.
Madison Metals Inc. (CSE: GREN) (OTCQB: MMTLF) (FSE: 4EF0) is an upstream mining and exploration company focused on sustainable uranium production in Namibia and Canada. With over 50 years of mining experience, including 22 years in Namibia, its management team has geological and financial expertise and a track record of creating shareholder value.
Additional information about Madison Metals Inc. can be found at madisonmetals.ca and on the Company’s SEDAR+ profile at www.sedarplus.ca.
For further information, please contact:
Duane Parnham
Executive Chairman & CEO
Madison Metals Inc.
+1 (416) 489-0092
ir@madisonmetals.ca
Media inquiries:
Adam Bello
Manager, Media & Analyst Relations
Primoris Group Inc.
+1 (416) 489-0092
media@primorisgroup.com
Neither the Canadian Securities Exchange nor CIRO accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Statements
This release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to statements regarding the proposed future exploration and drilling by Madison.
Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “schedule”, “estimates”, “forecasts”, “intends”, “continue”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “will”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are made based upon certain assumptions and other important facts that, if untrue, could cause the actual results, performance or achievements of the Company to be materially different from future results, performances or achievements expressed or implied by such statements. 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.
Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others: the global economic climate; competition; labour shortages, and unanticipated expenses of the Company. Forward-looking statements are subject to known and unknown risks, uncertainties and other important 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, including but not limited to: failure of the Company or its contractual partners to fulfil their respective obligations under agreements; unanticipated delays in drilling as described in this press release; the impact the COVID 19 pandemic may have on the Company’s activities and the economy in general; the impact of the recovery post COVID 19 pandemic and its impact on precious metals; receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; accidents, labour disputes and shortages; environmental risks; and other risks of the mining industry.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, 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.
You can find further information with respect to these and other risks in filings made with the Canadian securities regulatory authorities that are available on the Company’s SEDAR+ profile page at www.sedarplus.ca. The Company disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.
Greenridge Exploration Provides Updated Technical Review of its Nut Lake Uranium Project in the Thelon Basin, Nunavut
https://ca.finance.yahoo.com/news/greenridge-exploration-provides-updated-technical-120000526.html
Greenridge Exploration Inc.
Thu, August 15, 2024 at 5:00 a.m. PDT·8 min read
GXP.CN
+3.75%
HW3.F
-1.89%
VANCOUVER, British Columbia, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Greenridge Exploration Inc. (“Greenridge” or the “Company”) (CSE: GXP | FRA: HW3), is pleased to announce it has completed an updated technical review of the Nut Lake Uranium Project (the “Nut Lake Property” or the “Project”) located in the Thelon Basin in Nunavut. The Project covers approximately 5,853 hectares near the Northern Tip of the Yathkyed Basin, a sub-basin of the Thelon Basin (please see Figure 1).
Figure 1
Figure 1 - Nut Lake Property Claim Map
Technical Review Update
Dahrouge Geological Consulting Ltd. (“DGC”), on behalf of the Company, completed a secondary assessment of the historical data compiled for the Nut Lake Property, building on the previous technical review detailed in the Company’s news release dated April 4, 2024. The second pass performed by DGC was focused on compiling and investigating historical data for the Project, including digitizing drillhole information, georeferencing maps, and pulling data from historical reports on or near the Nut Lake Property. The highlights of this secondary assessment are listed below:
Tundra Showing
Historical Rock Sampling
Fifteen (15) total samples with six (6) cut from trenches and nine (9) high-grade float samples2.
Trench assayed up to 42% U3O8 in small, 6 cm wide, saw cut grab sample with four (4) samples containing >7% U3O8.
Float samples assayed up to 28% U3O8.
Historical Drilling
Thirty-five (35) drillholes completed on this showing, totaling 394 meters of drilling1&3.
1.54% U3O8 over 3.5 ft including 8.84% U3O8 over 0.5 ft (DDH: W-10).
1.13% U3O8 over 6.0 ft including 4.89% U3O8 over 1 ft (DDH: W-24).
1.35% U3O8 over 2.5 ft including 3.33% U3O8 over 1 ft, and including 4.72% over 0.5 ft (DDH: W-8).
1.08% U3O8 over 2.5 ft including 3.83% U3O8 over 0.5 ft (DDH: W-12B).
Figure 2
Figure 2 - Historical work map of the Tundra Showing on the Nut Lake Property
Heartbreak Showing1
The Heartbreak showing uncovered two pitchblende fractures in an area where a swarm of biotite trachyte occurs, 200 meters to the east-southeast of the Tundra showing.
The most noteworthy samples were from the Heartbreak showing which returned samples across a 3.0” and 3.5” fracture that assayed 2.11% U3O8 and 4.36% U3O8, respectively1.
Fracture descriptions and assay results indicate significant mineralization potential.
Frost heave on the surface suggests a potential strike length for the fractures.
Figure 3
Figure 3 - Historical work map of the Heartbreak Showing on the Nut Lake Property
Lakeshore Showing
Historical Rock Sampling1&4
79LLR005 - 0.32% U3O8, 7.01% Ni, 23.46 oz/ton Ag.
79LLR006 - 0.15% U3O8, 1.02% Ni, 53.16 oz/ton Ag.
L-6 – 0.08% U3O8.
6349 – 0.07% U3O8, 36.3 oz/ton Ag, 3.81% Ni.
6348 – 0.06% U3O8, 58.3 oz/ton Ag, 3.06% Ni.
6263 – 209.8 oz/ton Ag - fracture within mafic gneiss containing native silver.
6350 – 186.2 oz/ton Ag - fracture within mafic gneiss containing native silver.
6352 – 15.48 oz/ton Ag, 2.84% Pb.
6270 – 4.21% Pb.
Historical Drilling
Four (4) drillholes completed on this showing, totaling 62 meters of drilling4:
0.015% U3O8 over 2 ft (DDH: Lake #3).
Figure 4
Figure 4 - Historical work map of the Lakeshore Showing on the Nut Lake Property
431 Dike Swarm Showing
Historical Rock Sampling
Outcrop samples assayed up to 0.29% U3O8 (D175) with five (5) samples >0.02% U3O82.
Trenches assayed up to 1.18% U3O8 (D172) with five (5) samples >0.1% U3O8 and nineteen (19) samples >0.02% U3O8.
Historical Drilling
Forty-one (41) drillholes completed on this showing, totaling 2,735 meters of drilling1&3:
0.667% U3O8 over 3ft including 1.627% U3O8 over 1ft (DDH: PO-25).
0.485% U3O8 over 4ft including 1.7% U3O8 over 1ft (DDH: WC-5).
0.177% U3O8 over 3ft, including 0.425% U3O8 over 1ft (DDH: PO-18).
Figure 5
Figure 5 - Historical work map of the 431 Dike Swarm Showing on the Nut Lake Property
448 Anomaly Showing4
Historical Rock Sampling
Outcrop samples assayed up to 0.10% U3O8.
Samples from trenches assayed up to 10.39% U3O8 with nine (9) samples >1% U2O8 and twenty-four (24) samples >0.10% U3O8:
Trench L3 grab sampled with 5.51% Cu and 0.45% U3O8.
Historical Drilling
Thirty-two (32) drillholes completed on this showing, totaling 320 meters of drilling:
0.318% U3O8 over 0.75ft (DDH: Pitch 16).
0.433% U3O8 over 0.25ft and 0.082% U3O8 over 2ft (DDH: Pitch 5).
0.102% U3O8 over 1.41ft including 0.170% U3O8 over 0.66ft (DDH: Pitch 19).
Figure 6
Figure 6 - Historical work map of the 448 Anomaly Showing on the Nut Lake Property
SE Regional Anomalies
Historical Rock Sampling
Outcrop samples assayed up to 0.55% U3O8 with two (2) samples >0.1% U3O8 and thirteen (13) samples >0.02% U3O81&2.
Historical Drilling
Twelve (12) drillholes completed in this region, totaling approximately 1,081 meters of drilling1&3:
0.026% U3O8 over 36ft including 0.054% U3O8 over 1.5ft (DDH: PO-46).
0.025% U3O8 over 15ft (DDH: PO-45).
0.025% U3O8 over 14.1ft (DDH: PO-44).
Figure 7
Figure 7 - Historical work map of the SE Regional Anomalies on the Nut Lake Property
About The Nut Lake Property
The Project is located approximately 55km north of the Angilak Uranium Deposit5 or 180Km southwest of Baker Lake, Nunavut in the Yathkyed Basin (a sub-basin of the prolific Thelon Basin) in Nunavut Territory, Canada. The Project consists of three contiguous mineral licences encompassing a total land area of approximately 4,036 hectares (~40km²).
In 1979, Pan Ocean Oil Ltd. performed an exploration program consisting of ground geophysics, geological mapping, prospecting and Winkie drilling as follow up to previous sampling with elevated uranium in dyke swarms, fractures and contacts between syenites and trachytes. The geology of the Project area consists of basal sedimentary rocks of the South Channel Formation, composed of white quartzites and pink to grey arkose and arkosic rocks. The sedimentary sequences of the lower Dubawnt Group are unconformably or disconformably overlain by volcanic rocks of the Christopher Island Formation.
The Project hosts high grade vein hosted grab samples of up to 4.36% U3O8, 53.16 oz/t Ag, 1.15% Pb and 7.0% Ni.¹
During the 1979 field season, geological mapping at a scale of 1:1,000 was completed on a major portion of the Project. This was concurrent with prospecting on, and in the immediate area of the Project. Results from prospecting were the discovery of two (41 m wide) syenite dikes and a frost heaved area of felsic gneiss with up to 3,000 cps on fracture surfaces. Two significant Uranium bearing showings were discovered, the “Lake Showing” and the “Heartbreak Showing”. The most noteworthy was the Heartbreak showing which revealed 3.0” and 3.5” samples across a fracture that assayed 2.11% U3O8 and 4.36% U3O8 respectively. The results were followed up with a radon gal survey, a VLF-EM survey and an overburden sampling program. The radon survey results showed that the response is irregular with several good highs and the VLF-EM survey showed a series of northwesterly trending anomalies. It was concluded that further drilling of the Lake Showing is recommended.
The Project and surrounding proximal area have seen approximately 805ft of Winkie Drilling and 6,920ft of diamond drilling completed on it. Multiple holes intersected significant uranium mineralization, with the most noteworthy being at the “Tundra Showing” where Hole Winkie AX W-24 intersected 9ft of 0.69% U3O8 including 4.90% U3O8 over 1ft from 8ft depth.¹ Additional noteworthy holes were hole P049 which returned approximately 0.20% U3O8 over a one-foot interval and hole 068 which was drilled to intersect fracture mineralization and successfully encountered approximately 0.59% over 1 foot (Pan Ocean Oil Ltd., 1979 Assessment Report #81075).
The combination of historically defined anomalies and modern exploration techniques provides prime ingredients for the potential of discovering a high-grade uranium system within the Project area. The Nut Lake Property has the potential to host unconformity vein and breccia type, sygenentic and sandstone-hosted phosphatic type mineralization.
Qualified Person
The technical information contained in this news release has been reviewed by Neil McCallum B.Sc., P.Geo., of Dahrouge Geological Consulting Ltd., who is a “Qualified Person” as defined in NI 43-101 - Standards of Disclosure for Mineral Projects.
A qualified person has not done sufficient work to verify the results. The Company believes that the historical information is relevant to an appraisal of the merits of the Project and forms a reliable basis upon which to develop future exploration programs. The Company will need to conduct further exploration which will include drill testing and sampling to verify historical data, and there is no guarantee that the results obtained will reflect the historical results.
References
1Source: 1979 Assessment report (number 81075) by Pan Ocean Oil Ltd.
2Source: 1978 Assessment report (number 61692) by Pan Ocean Oil Ltd.
3Source: 1978 Assessment report (number 61815) by Pan Ocean Oil Ltd.
4Source: 1980 Assessment report (number 81190) by Pan Ocean Oil Ltd.
Assessment reports can be found here: https://nunavutgeoscience.ca/gateway/browseA.php
5Source: Reported by ValOre Metals Corp. in a Technical Report entitled “Technical Report and Resource Update For The Angilak Property, Kivalliq Region, Nunavut, Canada”, prepared by Michael Dufresne, M.Sc., P.Geo. 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. Note: 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).
About Greenridge Exploration Inc.
Greenridge Exploration Inc. (CSE: GXP | FRA: HW3) is a mineral exploration company dedicated to creating shareholder value through the acquisition, exploration, and development of critical mineral projects in North America. The Carpenter Lake Uranium Project is located in the Athabasca Basin consisting of 7 mineral claims covering 13,387 hectares across the Cable Bay Shear Zone and the Company is advancing the Project to test multiple high priority targets. The Company’s Nut Lake Uranium Project located in the Thelon Basin includes historical drilling which intersected up to 9ft of 0.69% U3O8 including 4.90% U3O8 over 1ft from 8ft depth2. Additionally, the Company’s Weyman Copper Project in southeast British Columbia sits on the south portion of the famous Quesnel Terrance. The Company is led by an experienced management team and board of directors with significant expertise in capital raising and advancing mining projects.
On Behalf of the Board of Directors
Russell Starr
Chief Executive Officer, Director
Telephone: +1 (778) 897-3388
Email: info@greenridge-exploration.com
Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the project acquisition bringing a low-risk opportunity, the Company, building a strong battery metals portfolio with low-risk opportunities that positively impact the Company and its shareholders and the Company providing an initial work plan are “forward-looking statements”. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Project and its mineralization potential; the Company’s objectives, goals, or future plans with respect to the Project; the Company’s anticipated exploration program at the Project. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether because of new information, future events or otherwise, unless so required by applicable securities laws.
The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release.
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Generation Uranium Initiates Permitting Process on its Flagship Yath Uranium Project in Nunavut, Canada
https://thenewswire.com/press-releases/1AD4FgZwv-generation-uranium-initiates-permitting-process-on-its-flagship-yath-uranium-project-in-nunavut-canada.html
Vancouver, British Columbia, Canada – TheNewswire - August 15th, 2024, Generation Uranium Inc. (the “Company” or “Generation”) (TSXV: GEN) (OTCQB: GENRF) (FSE: W85) is pleased to announce that, in preparation for an upcoming diamond drill program in 2025, the Company has initiated the permitting process to engage in advanced exploration activities on its flagship Yath Uranium Project (“Yath”) located in Nunavut, Canada. The applications include the recent acquisitions of the Yellow Frog and Pink Toad Uranium Projects, contiguous extensions to Yath on the Angilak Trend in the Yathkyed Basin.
Through APEX Geoscience Ltd., the Company is preparing a multi-year permit application for drilling, camp, and water use, which will be submitted to the Land Use Permit office through Crown-Indigenous Relations and Northern Affairs Canada for approval. The application will include provisions for a base camp accommodating 10-15 individuals, who will commence prospecting on the property to follow up on historical results, conduct mapping, and identify the locations of previous drill hole collars as permitting allows.
"We are thrilled to be at the cusp of heightened exploration activities at Yath," said CEO Anthony Zelen. "We look forward to moving swiftly with our team once the necessary approvals are in place."
Historic surface sampling conducted by Pan Ocean Oil Ltd. in 1981 yielded uranium values of 9.81%, 3.95%, and 2.14% U3O8 within surface float boulders. More recent field work by Kivalliq Energy between 2010-2012 returned 14 rock samples with U3O8 values ranging from 1% to 10%, concentrated around fault lines and basin unconformities. Notable concentrations of high-grade samples aligning with regional fault lines, as corroborated by a 2012 seismic line indicating a VGR trend, affirm the findings from the 1970’s and 1980’s, underscoring the substantial uranium mineralization potential within the zone.
The Company believes that Yath remains uniquely positioned within the Yathkyed Basin, one of a few global unconformity basins with proven economic potential. The Basin is renowned for hosting commercial grade deposits comparable in scale to the Athabasca Basin in the Canadian Shield of northern Saskatchewan and Alberta, Canada, and McArthur district in Australia*.
For additional information on Yath and other company assets, please visit our investor presentation and website.
Derrick Strickland, P. Geo. (L5669), a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects), has reviewed the scientific information that forms the basis for this news release and has approved the disclosure herein.
FOR FURTHER INFORMATION CONTACT
Anthony Zelen
President and Chief Executive Officer
Admin@generationuranium.com
778-388-5258
About Generation Uranium
The Company is a natural resource company engaged in the exploration and development of mineral properties. The Company holds a 100% interest in the 123.45 km² Yath Uranium Project, located in the Yathkyed Basin in Nunavut and located within close proximity to the commercial-scale Angilak deposit under advancement by Atha Energy Corp. The Basin is renowned for hosting commercial grade deposits comparable in scale to the Athabasca Basin in the Canadian Shield of northern Saskatchewan and Alberta, Canada, and McArthur district in Australia.
About APEX Geoscience Ltd.
APEX is a privately-owned, independent, full-service geological consulting company that provides high quality, cost effective and timely geological consulting services – worldwide.
The APEX team provides services ranging from casual project staffing through to full project management including resource estimation and geological modeling.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers 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 including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
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. The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.
Bedford Metals Obtains Satellite Survey Results on the Sheppard Lake Uranium Project, Northern Saskatchewan
https://ca.finance.yahoo.com/news/bedford-metals-obtains-satellite-survey-060000572.html
Bedford Metals Corp.
Sun, August 11, 2024 at 11:00 p.m. PDT·5 min read
VANCOUVER, British Columbia, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Bedford Metals Corp. (TSX-V: BFM, FWB: O8D, ISIN: CA0762301012) (the “Company” or “Bedford”) is pleased to announce the results of its VNIR (Visible Near Field Infrared) and SWIR (Shortwave Infrared) satellite investigation at its Sheppard Lake Uranium Project, which adjoins the Ubiquity Lake Uranium project, just south of the Athabasca Basin, Saskatchewan.
The statistical analysis, conducted by Dr. Neil Pendock, PhD in Applied Mathematics, successfully identified several positive indicators. Of particular interest was the identification of methane gas, believed to be produced by altered clays, particularly illite. This finding is significant because unconformity-style uranium deposits in the Athabasca Basin are often associated with hydrothermal events that produce illite.
The investigation revealed a series of discrete methane anomalies correlating to a northwest-trending fault, with the southern end terminating at the TZ1 anomaly located on the Ubiquity Lake claims. Additionally, hydrogen gas was noted, adhering strongly to the northwest-trending fault. This trend has led to the outlining of a broader exploration corridor, approximately 8km in length and 1.5km in width. This corridor will form the first line of investigation for field crews in 2024.
Peter Born, President of Bedford, commented, “The results of the satellite survey at Sheppard Lake are highly encouraging. The identification of key methane and hydrogen anomalies along the northwest-trending fault provides us with a clear exploration focus. We are excited to begin field investigations in this newly identified corridor and build on these promising findings.”
Bedford remains committed to conducting all exploration and development work in an environmentally responsible manner and in consultation with local stakeholders. The Company prioritizes minimizing its environmental footprint and ensuring that all operations are sustainable and responsible.
Additionally, Bedford values its relationships with local communities and indigenous groups and is committed to working collaboratively to ensure that its activities bring positive benefits to the region.
Background: The Region of Interest (ROI) is close to the Carpenter Lake Uranium Project of ALX Resources. The project is located along the Cable Bay Shear Zone (CBSZ), parallel to the Virgin River Shear Zone, which hosts Cameco's Centennial uranium deposit. It is 95 km west of Cameco's past-producing Key Lake uranium mine and 45 km southeast of the Centennial deposit.
The dominant lithologies are granite gneiss and granite pegmatite, with lesser mafic gneiss, pelitic schist, and scattered mafic dykes. The CBSZ is delineated by three parallel electromagnetic conductor axes, suggesting the hanging wall, footwall, and middle of a conductive panel of graphitic or sulfide-rich rocks. The project is situated on basement-type unconformity-related uranium deposits, similar to the Millennium, Eagle Point, and P-Patch deposits.
The area remains underexplored despite strong radiometric and base metal geochemistry indicators. Previous exploration includes airborne gravity gradiometer and VTEM surveys, radon-in-water and in-soil surveys, lake sediment sampling, and detailed follow-up geochemical surveys. These efforts have identified multiple high-priority targets across the CBSZ.
Dr. Peter Born, P.Geo., is the designated qualified person as defined by National Instrument 43-101, and the President of the Company, and is responsible for and has approved the technical information in this release.
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.
The Close Lake Uranium Project lies on the eastern side of the Athabasca Basin, adjoining claims held by Cameco Corporation, the largest uranium producer in the world. The claim is approximately 245 hectares and lies within the primary exploration corridor, which hosts the Keys Lake Mine, the Cigar Lake Mine, and the McArthur River Mine. Access to the property is done through a network of roads and trails.
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.
The Sheppard Lake Uranium Project covers an area of approximately 2250 hectares and adjoins the Ubiquity Lake Project to the southeast. The project area is characterized by rocks of the Mudjatik domain, where uranium mineralization is typically basement-hosted, situated within shears or faults, and formed through hydrothermal redistributions of dissolved metals and subsequent redox reactions.
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
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Showcase Minerals Commences Phase 1 Exploration on Pontiac Uranium Project in Quebec
https://www.newsfilecorp.com/release/219136
August 07, 2024 10:27 AM EDT | Source: Showcase Minerals Inc.
Calgary, Alberta--(Newsfile Corp. - August 7, 2024) - Showcase Minerals Inc. (CSE: SHOW) (FSE: ZJ0) ("Showcase" or the "Company") is pleased to announce that it has commenced its Phase 1 exploration program on the Pontiac Uranium Project located in Québec, Canada this week.
The Phase 1 exploration program will involve prospecting, geological mapping, and sampling activities, complemented by scintillometer radiometric surveys. This initial phase aims to verify historical mineralization and exploration targets, and to identify new potential areas of interest on the Project. Historical data indicates uranium mineralization at surface levels ranging from 0.11% to 1% uranium oxide (U3O8), with drill hole results revealing values of 0.07% U3O8 over 4.6 meters within granitic rocks interbedded with hornblende gneisses.
"We are thrilled to embark on this exploration program, which marks a significant step forward in advancing the Pontiac Uranium Project," said Kirk Reed, CEO of Showcase Minerals. "Our objective with Phase 1 is to validate and expand upon the promising historical data, laying the groundwork for potential future exploration and development. We are optimistic about the potential findings and are committed to advancing the project through diligent and thorough exploration."
Pending the successful results of Phase 1, Showcase plans to proceed with a Phase 2 work program, which will include trenching and stripping operations focused on defined targets for uranium exploration.
Qualified Person:
Afzaal Pirzada, P.Geo., a "Qualified Person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
About Showcase Minerals Inc.
Showcase is a Canadian mineral exploration company with an option to acquire a 100% interest, subject to a 2% net smelter returns royalty, in 60 mineral claims comprising the Pontiac Uranium Project located near the town of Fort Coulange in southwestern Québec.
For further information, please contact:
Kirk Reed, President
Showcase Minerals Inc.
Telephone: 1-800-982-0670
Neither the CSE nor its Market Regulator (as that term is defined in CSE policies) accepts responsibility for the adequacy or accuracy of this news release.
Not for distribution to United States newswire services or for dissemination in the United States.
SOURCE: Showcase Minerals Inc.
IsoEnergy Reopens the Underground and Initiates Comprehensive Work Program at the Tony M Mine in Utah
- Expands land position in the Henry Mountains by over 400%
https://www.prnewswire.com/news-releases/isoenergy-reopens-the-underground-and-initiates-comprehensive-work-program-at-the-tony-m-mine-in-utah-302216123.html
IsoEnergy Ltd. Aug 07, 2024, 07:00 ET
TORONTO, Aug. 7, 2024 /PRNewswire/ - IsoEnergy Ltd. ("IsoEnergy" or the "Company") (TSX: ISO) (OTCQX: ISENF
Searchlight Resources and Refined Energy Enter into Option Agreements for the Basin and Milner Uranium Properties in Saskatchewan
Option of Basin claims to Refined Energy for $75,000 cash, 175,000 shares and $200,000 work commitment.
Option of Milner claim to Refined Energy for $45,000 cash, 100,000 shares and $150,000 work commitment.
2% NSR
https://www.newsfilecorp.com/release/219101
August 07, 2024 8:00 AM EDT | Source: Searchlight Resources Inc.
Vancouver, British
Stallion Uranium Confirms Uranium Presence in Graphitic Structure from Final Assay Results
https://ca.finance.yahoo.com/news/stallion-uranium-confirms-uranium-presence-113000598.html
Stallion Uranium Corp.
Wed, August 7, 2024 at 4:30 a.m. PDT·7 min read
STLNF
+3.70%
VANCOUVER, British Columbia, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Stallion Uranium Corp. (the "Company" or "Stallion") (TSX-V: STUD; OTCQB: STLNF; FSE: FE0) is pleased to announce that the assay results have been received from the winter 2024 drilling program. The assay results confirm the presence of uranium in the intersected graphitic structure on the Coffer uranium project in the Western Athabasca Basin, Saskatchewan, Canada. The maiden drill program was focused on the Appaloosa Target Zone with the preliminary results from each hole reported in news releases on April 2, 2024, April 17, 2024 and May 7, 2024.
Highlights:
Drillhole CF24-003 intersected anomalous uranium within the graphitic structure, averaging 5 ppm U (uranium) and reaching a maximum of 14 ppm U over a span of 94.7 meters.
Elevated lead (Pb), nickel (Ni), arsenic (As) and uranium (U) anomalies are located within the graphitic structure, which correlate well to the known high grade, uranium mineralization located at the Shea Creek deposits.
The assay results are confirmation of the initial anomalous radioactivity readings, confirming the presence of uranium-bearing fluids within the identified alteration system.
Outlined priority follow-up target area are shown in Figures 1.
“The assay results have confirmed initial results as to the presence of uranium in the large conductive structure intersected in the third drillhole at the Coffer Project,” said VP, Exploration, Darren Slugoski. “The structure, and zones of alteration, are substantial in size and have the potential to host a large uranium deposit. Our model from all the data collected during the drill program has identified multiple key targets that give Stallion great potential to make a discovery. The intersection of the graphitic conductor with the unconformity will be a top priority target for our future drilling program.”
The figure is an interpretation of the geological structure with target area
Figure 1 – Cross section of CF24-003.
The figure is an interpretation of the geological structure with target area
Assay Results:
A total of 267 assay samples and 15 samples QAQC samples were collected throughout the 2,798.2 meters completed in 3 drill holes and sent to the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon for analysis. The third and final hole of the inaugural drilling program intersected a large structural system in the previously untested “Appaloosa Target” (Figure 1), confirming the presence of a significant graphitic fault system linked to prospective hydrothermal alteration in the basement rock.
CF24-003 intersected a deep-rooted conductive structure, spanning 94.7 meters in down-hole thickness. Assay results show that the structure and alteration is associated with anomalous uranium with all samples in the graphic structure averaging 5 ppm U up to a maximum of 14 ppm U. The structure also contains anomalous 206Pb/204Pb, one of the most important indicators of proximal uranium. Large quantities of uranium will decay to 206Pb (238U decays to 206Pb) causing uranium bearing structures to be enriched with 206Pb relative to common lead (204Pb). The structure also hosted anomalous arsenic, thorium and vanadium which indicates the presence of uranium bearing fluids. Also of significance is that the Athabasca Basin Sandstone is enriched with Boron averaging 288 ppm B throughout the entire column and hosts maximum of 1,600 ppm B over 10 metres. Boron can be found in certain clay minerals such as dravite, which can form in the alteration halos around uranium deposits.
The assay results are confirmation of the initial anomalous radioactivity readings, confirming the presence of uranium-bearing fluids within the identified alteration system that highlight that the system is a fertile structure for concentrated uranium mineralization. The follow-up drill program will test areas of the system with the highest probability of fluid concentration and the zones likely to host high-grade uranium mineralization.
Additional Results
Geochemical results from CF24-001 and 002 also show anomalous uranium, 206Pb/204Pb ratios, thorium and lanthanum.
CF24-001 was drilled targeting a conductive anomaly along the eastern edge of a gravity low anomaly. After completion of the hole it was determined that the hole was drilled down dip of the geology. Despite drilling down dip of geology the hole successfully encountered anomalous radioactivity in the Athabasca Sandstone just above the unconformity as well as a second interval of anomalous radioactivity located 1.6 m into the basement. Anomalous radioactivity encountered in the Athabasca Sandstone interested a radioactive peak of 1,540 CPS in a 4.2 m interval that averaged 358 cps, including 0.3 m at 1,322 cps. Assay results indicate the radioactivity is associated with anomalous 206Pb/204Pb ratios and thorium. This hole was successful in identifying the trends of the geology and the true depth of the unconformity.
CF24-002 was a large step-out that was successful in following up radioactivity intersected in CF24-001 and to reorient the drill based on the results from CF24-001. Although the drill did not intersect the conductor, anomalous radioactivity was encountered in the Athabasca Sandstone at the unconformity with radioactivity of 333 cps over 3.4 m including 644 cps over 0.3 with a radioactive peak of 771 cps. As seen in CF24-001, assay results indicate the radioactivity is associated with anomalous uranium, 206Pb/204Pb ratios, thorium and lanthanum.
2024 Drill Hole locations on the Coffer Project
Figure 2 – 2024 Drill Hole locations on the Coffer Project
Future Drilling Priority Targets
A thorough review and interpretation of the results of the winter 2024 program at Coffer Project is continuing and preparation for a follow up program is planned to continue evaluating the alteration and structure encountered in CF24-003.
Drilling to date has successfully confirmed the geophysical targets are graphitic structural corridors which hosts significant alteration with associated anomalous radioactivity and indicator minerals. CF24-003 intersected the graphitic structure and alteration but did not properly test the unconformity for mineralization which makes this location a top priority to test with drilling. The target area will test the conductor intersected in CF24-003 near the unconformity as well as along strike.
Sample Quality Assurance / Quality Control (QAQC)
A total of 15 QAQC samples were collected throughout the program at regular intervals in accordance with Stallion Uranium’s quality assurance/quality control (QA/QC) protocols. Nine of the QAQC samples were duplicates and six of the samples were blanks. All samples passed internal QA/QC protocols and the results presented in this release are deemed complete, reliable, and repeatable.
Gamma Logging and Geochemical Assaying
All core radioactivity was measured using a RS-230 BGO Super-SPEC Handheld Gamma-Ray Spectrometer. Down hole probing radiometric surveying was conducted with a Mount Sopris 2PGA-1000 downhole total gamma probe with a maximum depth of investigation of 850 meters. The Company considers greater than 300 cps (on the borehole probe) to be anomalous radioactivity. Radioactivity greater than 80 cps using the RS-230 handheld scintillometer is considered to be “above background”. The background radioactivity levels in the Appaloosa Target area are considered 30-60 cps.
All drill core samples from the 2024 program will be shipped to the Saskatchewan Research Council Geoanalytical Laboratories ("SRC") in Saskatoon, Saskatchewan, an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. Stallion Uranium requests multi-element analysis by ICP-MS and ICP-OES using total (HF:NHO3:HClO4) and partial digestion (HNO3:HCl), boron by fusion. One half of the split core samples are retained and the other half cores are sent to the SRC for analyses. Blanks, standard reference materials, and repeats are inserted into the sample stream at regular intervals by Stallion Uranium geologists and SRC in accordance with industry-standard quality assurance/quality control ("QA/QC") procedures.
All reported depths and intervals are drill hole depths and intervals, unless otherwise noted, and do not represent true thicknesses. The reader is cautioned that gamma probe readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication of the presence of radioactive materials.
Qualifying Statement
The foregoing scientific and technical disclosures for Stallion Uranium have been reviewed by Darren Slugoski, P.Geo., VP Exploration, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Mr. Slugoski is a Qualified Person as defined by National Instrument 43-101.
About Stallion Uranium
Stallion Uranium is working to ‘Fuel the Future with Uranium’ through the exploration of over 3,000 sq/km in the Athabasca Basin, home to the largest high-grade uranium deposits in the world. The company, with JV partner Atha Energy holds the largest contiguous project in the Western Athabasca Basin adjacent to multiple high-grade discovery zones.
Our leadership and advisory teams are comprised of uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties.
Stallion offers optionality with the Horse Heaven gold project in Idaho that neighbours the world class Stibnite Gold deposit, offering exposure to upside potential from district advancement with limited capital expenditures.
For more information visit stallionuranium.com or contact:
Drew Zimmerman
Chief Executive Officer
778-686-0973
info@stallionuranium.com
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 contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”) that relate to the Company’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this material change report should not be unduly relied upon. These statements speak only as of the date they are made.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/780e156e-a433-439d-a77a-f7c456dc961c
https://www.globenewswire.com/NewsRoom/AttachmentNg/74dbfb33-d92e-46cd-be0a-015e2bec17b2
Navajo Nation plans to test limit of tribal law preventing transportation of uranium on its land
https://ca.finance.yahoo.com/news/navajo-nation-plans-test-limit-222442369.html
FELICIA FONSECA
Updated Tue, July 30, 2024 at 6:56 p.m. PDT·5 min read
UUUU
-6.79%
PHOENIX (AP) — The Navajo Nation planned Tuesday to test a tribal law that bans uranium from being transported on its land by ordering tribal police to stop trucks carrying the mineral and return to the mine where it was extracted in northern Arizona.
But before tribal police could catch up with two semi-trucks on federal highways, they learned the vehicles under contract with Energy Fuels Inc. no longer were on the reservation.
Navajo President Buu Nygren vowed to carry out the plan to enact roadblocks while the tribe develops regulations over the first major shipments of uranium ore through the reservation in years.
“Obviously the higher courts are going to have to tell us who is right and who is wrong,” he told The Associated Press. “But in the meantime, you're in the boundaries of the Navajo Nation.”
The tribe passed a law in 2012 to ban the transportation of uranium on the vast reservation that extends into Arizona, New Mexico and Utah. But the law exempts state and federal highways that Energy Fuels has designated as hauling routes between the Pinyon Plain Mine south of Grand Canyon National Park for processing in Blanding, Utah.
Still, Nygren and Navajo Attorney General Ethel Branch believe the tribe is on solid legal footing with a plan for police to block federal highways, pull over drivers and prevent them from traveling farther onto the reservation.
Energy Fuels said it began hauling the ore as planned Tuesday and had informed federal, state, county and tribal officials more than 10 days ago about the legal requirements, safety, emergency response and the imminent shipping of uranium ore, though it didn't give a specific date. Spokesman Curtis Moore said no one said that wasn't sufficient.
“Tens of thousands of thousands of trucks have safely transported uranium ore across northern Arizona since the 1980s with no adverse health or environmental effects,” the company's president and chief executive, Mark Chalmers, said in a statement. ”Materials with far greater danger are transported every day on every road in the county. Ore is simply natural rock. It won’t explode, ignite, burn or glow, contrary to what opponents claim.”
The Arizona Department of Transportation and the Arizona Department of Public Safety, which have jurisdiction on state and federal highways through the reservation, didn't immediately return email messages seeking comment.
The Kaibab National Forest where the mine is permitted said it was notified after hauling began Tuesday morning, then contacted tribes, local officials and others, spokeswoman Brienne Pettit said. The forest also requested advanced notification, she said.
Officials with Coconino County and the Navajo Nation said Energy Fuels verbally agreed — but is not required to — give communities along the route at least a week's notice before any truck hauled uranium through them. Nygren said the tribe got a notification Tuesday that trucks had left the mine site and were driving north through Flagstaff.
Energy Fuels, the largest uranium producer in the United States, recently started mining at the Pinyon Plain Mine for the first time since the 1980s, driven by higher uranium prices and global instability. The industry says uranium production is different now than decades ago when the country was racing to build up its nuclear arsenal.
No other sites are actively mining uranium in Arizona.
Chalmers said uranium ore mined from Pinyon Plain is transported in tightly covered vehicles that have placards indicating the contents are radioactive. The shipments, driven by licensed and trained operators, comply with regulations and law, he said. Mining during World War II and the Cold War left a legacy of death, disease and contamination on the Navajo Nation and in other communities across the country, making any new development of the ore a hard pill to swallow. The Havasupai tribe is among the tribes and environmentalists that have raised concerns about potential water contamination.
Republicans have touted the economic benefits the jobs would bring to the region known for high-grade uranium ore.
In 2013, the Navajo Nation told another uranium producer that it would deny access to a ranch that surrounded a parcel of Arizona state trust land where the company planned to mine. At the time, the tribe cited a 2005 law that banned uranium mining on its lands and another 2006 law that addressed transport. The mining never occurred, although it also needed other things like a mineral lease and environmental permits.
Stephen Etsitty, executive director of the Navajo Nation Environmental Protection Agency, said the tribe had been meeting with Energy Fuels since March to coordinate emergency preparedness plans and enact courtesy notifications.
Based on those meetings, Etsitty said the tribe didn't expect Energy Fuels to transport uranium through the Navajo reservation for at least another month or until the fall.
On Tuesday, he said the tribe found out indirectly about the trucks, leaving officials frustrated on what is primary election day in Arizona. Moore, the company spokesman, said Energy Fuels is required to notify the tribe of any spills or accidents.
Etsitty said accidents involving trucks carrying hazardous or radioactive material occur on average once every three to five years on the reservation. But the possibility requires the tribe to notify emergency responders along the route. Because the material being transported from the mine is uranium ore, rather than processed ore, the risk of radiation exposure is lower, Etsitty said.
“It is a danger, but it would take a longer period of time for somebody to get acute exposure at a spill site,” he said. “Precautions still need to be taken.”
Madison Metals Drill Program Confirms Subsurface Uranium at Khan Project in Namibia, Africa
https://ca.finance.yahoo.com/news/madison-metals-drill-program-confirms-145200141.html
Madison Metals Inc.
Thu, August 1, 2024 at 7:52 a.m. PDT·6 min read
MMTLF
0.00%
TORONTO, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Madison Metals Inc. (“Madison” or the “Company”) (CSE: GREN) (OTCQB: MMTLF) (FSE: 4EF0)
Bayridge Resources Receives Drilling Permit for Waterbury East Project
https://www.newsfilecorp.com/release/218340
July 31, 2024 6:00 AM EDT | Source: Bayridge Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - July 31, 2024) - Bayridge Resources Corp. (CSE: BYRG) ("Bayridge") is pleased to announce that it has received the drilling permit for its 1,337 ha Waterbury East uranium project in Canada's Athabasca Basin. The 3-year permit is valid until 2027-Jul-31 and includes 40 drill collar sites, along with the clearing of exploration trails and line cutting.
"The Waterbury East drilling permit is a significant milestone for the Company," commented President and CEO, Saf Dhillon. "Bayridge is fully funded to undertake a multi-hole drill program slated for late Q3 2024," he continued. "in3D Geoscience is working with the recently completed Geotech VTEM data to prioritize drilling targets within the magnetic and electromagnetic anomalies defined by the survey'" he concluded.
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 2007, CanAlaska Uranium Ltd. ("CanAlaska") reported encouraging results from a drill program, with an intersection of 17.0 m of anomalous basement-hosted uranium enrichment, containing a highlight value of 324 ppm U over 0.6 m in a structurally controlled zone in WAT005. Interpreted geophysical magnetic lineaments suggest additional structures occur in the basement. *Readers are cautioned that Bayridge has not verified these historical results.
Bayridge holds a staged option to earn up to an 80% interest in Waterbury East from CanAlaska 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.
Cameco reports Q2 results: 2024 outlook on track; strong operational performance; financial results reflect transition to tier-one economics; durable demand outlook driving long-term price increases; disciplined strategy capturing long-term value
https://ca.finance.yahoo.com/news/cameco-reports-q2-results-2024-104100318.html
Wed, July 31, 2024 at 3:41 a.m. PDT
CCJ
-9.85%
SASKATOON, Saskatchewan, July 31, 2024--(BUSINESS WIRE)--Cameco (TSX: CCO; NYSE: CCJ) t
NexGen Provides Updated Economics for the Rook I Project
https://www.newswire.ca/news-releases/nexgen-provides-updated-economics-for-the-rook-i-project-871508756.html
NexGen Energy Ltd. Aug 01, 2024, 09:05 ET
Revised Capital Cost C$2.2 Billion /USD$1.58 Billion (C$/US$ 0.72)
Average Annual After-Tax Net Cash Flow (Years 1-5) of C$1.93 Billion (at US$95/lb U3O8)
Consistent Mine Life and Production Capability up to 30 Million Pounds U3O8 Annually
Elite Environmental Plan Incorporates Reclamation during Operations resulting in minimal C$70 Million Closure Cost.
VANCOUVER, BC, Aug. 1, 2024 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG
Cosa Resources Enters Agreement to Expand its 100% Owned Orbit Uranium Project, Athabasca Basin, Saskatchewan
https://www.newsfilecorp.com/release/218056
July 29, 2024 7:30 AM EDT | Source: Cosa Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - July 29, 2024) - Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU) ("Cosa" or the "Company") is pleased to announce it has entered into an asset purchase agreement (the "Purchase Agreement") with Skyharbour Resources Ltd. (the "Vendor") dated July 26, 2024, for the acquisition (the "Acquisition") of two mineral claims in the Athabasca Basin, Saskatchewan (the "Claims").
Highlights
Two mineral dispositions totalling 6,049 hectares to be acquired, doubling the footprint of the Orbit uranium project (the "Orbit Project") to 12,718 hectares
Expands Cosa's control of untested strike length to eight kilometres located on trend with uranium mineralization, hydrothermal alteration, and reactivated graphitic faulting to the southwest
Keith Bodnarchuk, President and CEO of Cosa, commented: "This acquisition adds significant value and exploration runway to the Orbit Project, which is proximal to infrastructure and within 25 kilometres of the Key Lake Uranium Mill and the former Key Lake Uranium Mine. We are very pleased to expand this project, which is situated in a highly prospective area that has been largely overlooked by modern exploration despite having shallow target areas with no sandstone cover. We appreciate the effort from the Skyharbour team to complete this agreement in a timely manner. Cosa will continue to identify and pursue cost-effective opportunities to add to our pipeline of exciting projects and drill targets as we remain fully funded to complete all of our exploration plans into 2025."
Andy Carmichael, VP of Exploration of Cosa, commented: "The northern magnetic-low trend at the Orbit Project hosts known occurrences of uranium mineralization, hydrothermal alteration, and reactivated graphitic faulting on strike to the southwest, all of which can be important indicators of a uranium deposit on trend. We are excited to have nearly doubled the completely untested strike length of this trend contained by the Orbit Project. Furthermore, the southern portion of the Orbit Project hosts several complex magnetic low trends that have not been significantly explored and warrant additional work."
The Expanded Orbit Project
The Orbit Project is located roughly 19 kilometres south of the Athabasca Basin and 22 kilometres south of the Key Lake Mill and former Key Lake Mine (Figure 1) and is accessible by a network of trails extending to within 11 kilometres of the Orbit Project from Provincial Highway 914. Despite the Key Lake Mine's historical production of over 209 million lbs U3O8 at an average grade of 2.3%, the Orbit Project and surrounding area have seen little modern exploration.
The northern portion of the expanded Orbit Project captures nearly eight kilometres of the interpreted strike extension of a northeast-trending magnetic low corridor that hosts occurrences of graphitic faulting, strong hydrothermal alteration, and weak uranium mineralization including 0.07% U3O8 in drill hole TED-01 (106.4 - 106.6 metres). The trend is sub-parallel to that which hosts the Gaertner and Deilmann uranium deposits of the former Key Lake Mine.
The southern portion of the Orbit Project covers curvilinear, northeast-trending magnetic lows crosscut by lineaments identified from regional magnetic data which suggest favourable structural complexity. As with the northern portion of the Orbit Project, this area is untested by drilling. Like the 100% owned Aurora project to the northeast, Cosa believes that the Orbit Project is underexplored and remains prospective for near surface and open-pit amenable uranium mineralization. The Company aims to complete initial drill testing at the Orbit Project in 2025.
Acquisition Details
Pursuant to the Purchase Agreement, Cosa has agreed to acquire a 100% unencumbered ownership of two mineral claims from the Vendor in exchange for 250,000 common shares of the Company (the "Consideration Shares"). The Consideration Shares will be subject to a four-month hold period pursuant to applicable Canadian securities laws, after which 50% of the Consideration Shares will become free trading. The Vendor has agreed to voluntary resale restrictions whereby the balance of 50% of the Consideration Shares will become free trading six months after closing. The Acquisition is subject to standard closing conditions, including the approval of the TSX Venture Exchange (the "TSXV").
Figure 1 - Orbit Uranium Project and Expanded Claims
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9865/218056_4c1bf1d1d4de7b03_003full.jpg
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. This news release refers to properties in which the Company has no interest. Mineralization on those neighboring properties does not necessarily indicate mineralization on the Company's properties.
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.
This press release contains forward-looking information within the meaning of Canadian securities laws (collectively "forward-looking statements"). Forward-Looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-Looking statements in this press release include but are not limited to statements regarding, the Company's exploration and development plans. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedarplus.ca. Forward-Looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including the price of uranium and other commodities; 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. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
SOURCE: Cosa Resources Corp.
Bedford Metals Receives Exploration Permit for Ubiquity Lake Uranium Project, Northern Saskatchewan
https://ca.finance.yahoo.com/news/bedford-metals-receives-exploration-permit-060000266.html
Bedford Metals Corp.
Sun, July 28, 2024 at 11:00 p.m. PDT·5 min read
URGYF
0.00%
VANCOUVER, British Columbia, July 29, 2024 (GLOBE NEWSWIRE) -- Bedford Metals Corp. (TSX-V: BFM, FWB: O8D, ISIN: CA0762301012) (the “Company” or “Bedford”) is pleased to announce that it has received the necessary exploration permit from the Ministry of Environment for its 2024 prospecting program at the Ubiquity Lake Uranium Project in Northern Saskatchewan. This permit marks a significant milestone, allowing the Company to advance its exploration activities as planned.
The previously announced prospecting program at Ubiquity Lake will include investigating and mapping historic showings and target zones identified through successive geophysical programs. The claim block will be surveyed with state-of-the-art RS100 scintillometers, and outcrops from high-value targets will be collected and sent for assay.
Peter Born, President of Bedford, commented, “Receiving the exploration permit is a crucial step forward for our Ubiquity Lake project. With this approval, we are set to commence our field activities and validate the promising targets identified in our previous surveys. We are committed to advancing our exploration efforts responsibly and sustainably.”
The 2024 Phase I exploration program will specifically target UL2014, where a 2014 prospecting and grab rock sampling program yielded values of 187 ppm U and 449 ppm Th from pegmatitic quartz-rich zones in a granite gneiss outcrop and 678 ppm U and 679 ppm Th from a quartz-rich pegmatitic granitic gneiss boulder.
Additionally, the field crew will prospect Target Zones 1 and 2 (T1 and T2), high-priority anomalies identified through an interpretation of geophysical datasets by Condor Consulting of Lakewood, Colorado.
Background:
The principal target zones at the Ubiquity Lake Uranium Project are northwest-trending subsurface conductive anomalies identified through a 2014 VTEM survey completed by Noka Resources Inc. and Alpha Exploration Inc. Additionally, the Company will be exploring conductive anomalies identified through a 2007 GEOTEM survey completed by Stikine Gold Corporation. A ground survey conducted in 2014 yielded numerous radioactive samples, with readings up to 2000 cps.
In 2014, a helicopter-borne EM and magnetic survey carried out by Aeroquest and Condor Consulting Inc. identified 13 target zones needing follow-up exploration. The target model is structurally controlled conductive graphitic zones within the basement rocks that could potentially host uranium deposits. The predicted depth to the basement is less than 50 m, which was consistently achieved throughout the survey area. The company will investigate areas with electromagnetic-magnetic targets and areas with anomalous uranium in surface outcrops.
Given the project’s proximity to the southern tip of the Athabasca Basin, the Company is pursuing an exploration model similar to Fission’s Patterson Lake South Deposit and NexGen’s Arrow Deposit, which are shear-hosted basement deposits with continuity at depth.
Bedford remains dedicated to conducting all exploration activities to the highest environmental standards. The Company is committed to minimizing its environmental footprint and ensuring that all operations are sustainable and responsible. Additionally, Bedford values its relationships with local communities and indigenous groups and is committed to working collaboratively with these stakeholders to ensure its activities bring positive benefits to the region.
Dr. Peter Born, P.Geo., is the designated qualified person as defined by National Instrument 43-101, and the President of the Company, and is responsible for and has approved the technical information in this release.
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.
The Close Lake Uranium Project lies on the eastern side of the Athabasca Basin, adjoining claims held by Cameco Corporation, the largest uranium producer in the world. The claim is approximately 245 hectares and lies within the primary exploration corridor, which hosts the Keys Lake Mine, the Cigar Lake Mine, and the McArthur River Mine. Access to the property is done through a network of roads and trails.
image3.png
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.
image1.png
The Sheppard Lake Uranium Project, covers an area of approximately 2250 hectares and adjoins the Ubiquity Lake Project to the southeast. The project area is characterized by rocks of the Mudjatik domain, where uranium mineralization is typically basement-hosted, situated within shears or faults, and formed through hydrothermal redistributions of dissolved metals and subsequent redox reactions.
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
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/daccaf19-bc2c-413b-ab31-c831b672607bhttps://www.globenewswire.com/NewsRoom/AttachmentNg/3e0eff03-3f36-4824-ad51-6526b6df1faa
Ashley Samples 1.26% Uranium within Historic Portal along the Big Body Trend, Utah
https://thenewswire.com/press-releases/1AG9FgMjg-ashley-samples-1-26-uranium-within-historic-portal-along-the-big-body-trend-utah.html
CALGARY, ALBERTA – TheNewswire - July 30, 2024 - Ashley Gold Corp. (CSE: “ASHL”)
Aero Energy Begins Drilling at the Sun Dog Uranium Project, Saskatchewan
Drill Holes to Test New Shallow High-Priority Targets
https://www.newsfilecorp.com/release/217605
July 25, 2024 7:00 AM EDT | Source: Aero Energy Limited
Vancouver, British Columbia--(Newsfile Corp. - July 25, 2024) - Aero Energy Ltd (TSXV: AERO) (OTC Pink: AAUGF) (FSE: UU3) ("Aero" or the "Company") is pleased to announce that drilling activities have commenced at the Company's Sun Dog Uranium Project ("Sun Dog", or the "Project") located near Uranium City in northwestern Saskatchewan (Figure 1). Field crews have arrived at the Project and drilling has commenced. The drill program is being funded by Aero and operated by Standard Uranium Ltd. ("Standard") (TSXV: STND), pursuant to the underlying option agreement between the companies.
Highlights:
Drilling Underway: Drilling activities began on July 23, 2024. Approximately 1,000-1,200 metres are planned across 5-7 drill holes targeting shallow high-grade basement-hosted uranium mineralization, beginning with the Wishbone target area (Figure 2).
Undrilled & Shallow Drill Targets: Drill plans comprise helicopter-supported diamond drilling focused on high-priority targets refined by geophysical work completed by the Company earlier this year, bolstered by recent prospecting and identification of strong radioactivity at surface within ideal uranium host rocks.
Untapped Uranium Potential: Drilling will focus on target areas along refined VTEMTM corridors with the proven exploration thesis of focusing on major conductor trends associated with cross-cutting faults and surficial radioactivity expressions.
Fully Funded: The drill program is fully funded and may be expanded based on results.
Caption: Aero Energy and Standard Uranium Personnel Prospecting Upcoming Drill Targets
Cannot view this video? Visit:
https://www.youtube.com/watch?v=hCKFXwHrEZY
Galen McNamara, CEO of Aero Energy, stated, "With drilling now underway at Sun Dog we are very much looking forward to testing the targets. Each target was carefully chosen based on a number of features and strengthened by the identification of favourable radioactive host rocks at surface. In my experience, targets like this are rare so I'm glad we are in a position to quickly test them via drilling."
Figure 1: Overview of the Sun Dog Project highlighting 2024 summer drill target areas, high-grade uranium occurrences, and EM-conductors.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/217605_c33bc0b2d451f8f9_002full.jpg
Figure 2: Detail map of the Wishbone target area highlighting newly discovered mineralized graphitic metapelite outcrop, anomalous surface radioactivity***, and untested VTEM conductors. The first drill hole of the 2024 program will test the Wishbone target for the first time.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/217605_c33bc0b2d451f8f9_003full.jpg
2024 Summer Drill Program
Diamond drilling on the first hole is currently underway. This program will comprise approximately 1,000-1,200 metres of drilling at high-priority target areas following completion of a VTEM Plus survey and geophysical modeling earlier this year.
Target Selection for 2024 Drill Campaign
Targets were selected and prioritized through an iterative approach working in collaboration with the teams from Standard and Convolutions Geoscience. Recent prospecting and mapping at the Wishbone, McNie, and Spring-Dome target areas has outlined multiple outcrops of favourable uranium host-rocks, including graphitic pelite, which is commonly radioactive over >200 m of collective strike length. Structural measurements and radioactivity mapping has further refined drill targets in these areas.
Targets are ranked and prioritized based on geophysical signature, geological/structural setting, proximity to historical uranium occurrences of interest, and the Company's recent prospecting and mapping campaign. A total of seven priority targets were identified (Figure 1) to encompass a variety of target types and provide a third phase of regional testing across the Project:
Wishbone Target Area:
- Approximately five kilometres of strike length along a regional scale anticline, defined by strong VTEM conductors with associated radioactivity that has never been drill tested.
- Graphitic pelitic rocks have been mapped along both fold limbs, hosting strong radioactivity up to 22,300 cps.
- Mineralized cross-cutting faults have been mapped in the overlying rocks which intersect the uranium-bearing graphitic pelite unit.
- Historical outcrop sampling at the northwestern graphitic pelite exposure returned assay results of 0.32% U3O8 and 0.30% Cu (SMDI #2095).
McNie Target Area:
- Approximately four kilometres of untested VTEM conductor strike length.
- The corridors are off-set by significant E-W trending regional faults, which host known uranium showings to the east towards the newly discovered zone at target H15 on the Murmac Project, and to the west towards the past-producing Gulch uranium mine.
Spring-Dome Target Area:
- Historically explored Gunnar-style target focused on mineralized carbonatized granites and pitchblende veins and fractures.
- The Spring-Dome area has been historically drilled with intersections over 1.0% U3O8; however, several showings of uranium south of known drilling with values up to 17.4% U3O8 and radioactivity readings >65,535 cps have not been properly drill-tested.
- The Company is currently evaluating the priority of this area through prospecting, mapping, and geological modeling. The target area south of Spring Lake represents the possibility of a uranium deposit akin to the nearby past-producing "Beaverlodge-style" Gunnar mine.
Other high-priority target areas including Haven, Java, and Skye are being reviewed with new datasets and models for a possible winter drill program in 2025.
*Natural gamma radiation in outcrop reported in this news release was measured in counts per second (cps) using a handheld RS-125 super-spectrometer. 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.
**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".
Qualified Person
The technical content of this news release has been reviewed and approved by Galen McNamara, P. Geo., CEO of the Company and a qualified person as defined by National Instrument 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 the Sun Dog Project
Sun Dog 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.
About Aero Energy Limited
Aero Energy is a mineral exploration and development company advancing a district-scale 250,000-acre land package in the historic Uranium City district within Saskatchewan's Athabasca Basin. Aero Energy is focused on uncovering high-grade uranium deposits across its flagship optioned properties - Sun Dog, Strike, and Murmac - in addition to its fully owned properties. With the application of modern exploration techniques, the Company has identified over 50 shallow drill-ready targets and 125 kilometres of target horizon on the frontier north rim of the Athabasca Basin. Aero Energy is tapping into the Athabasca Basin's emerging potential for high-grade, unconformity-style mineralization.
On Behalf of the Board of Directors
Galen McNamara, Chief Executive Officer
Further information on the Company can be found on the Company's website at aeroenergy.ca and at www.sedarplus.ca, or by contacting the Company by email at info@aeroenergy.ca.
References
2022 Winter Mineral Assessment Report, Sun Dog Property, Northern Saskatchewan, Canada, Standard Uranium, 2022
Information obtained from Saskatchewan Mineral Deposit Index and historical report from Uranium City Resources, 2007
Cautionary Statement Regarding Forward-Looking Information
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 contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. These forward-looking statements or information relate to, among other things the exploration and development of the Company's mineral exploration projects including completion of drilling activities.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the requirement for regulatory approvals; enhanced uncertainty in global financial markets as a result of the public health crises; unquantifiable risks related to government actions and interventions; stock market volatility; regulatory restrictions; and other related risks and uncertainties.
Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such 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.
The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
SOURCE: Aero Energy Limited
Terra Balcanica Closes Option Agreement for Saskatchewan Uranium Assets
https://ca.finance.yahoo.com/news/terra-balcanica-closes-option-agreement-002900640.html
Terra Balcanica Resources Corp.
Wed, July 24, 2024 at 5:29 p.m. PDT·2 min read
TERA.CN
0.00%
Vancouver, British Columbia, July 24, 2024 (GLOBE NEWSWIRE) -- Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1), a multi-jurisdictional, polymetallic exploration company focused on supporting the global transition to clean energy, is pleased to announce that further to its press release dated July 3rd, 2024, it has closed its option agreement dated July 2nd, 2024 (“Agreement”) between the Company, Fulcrum Metals Plc. (“Fulcrum”, AIM:FMET) and Fulcrum Metals (Canada) Ltd. (“Fulcrum Canada”), a wholly-owned subsidiary of Fulcrum, pursuant to which the Company has obtained a four-year option (the “Option”) to acquire a 100% interest in Fulcrum’s uranium portfolio of exploration licences located in northern Saskatchewan, Canada and collectively encompassing 596.71 km2 of highly prospective terrain for a tier one uranium discovery. See the Company’s press release dated July 3rd, 2024 for further details regarding the Agreement.
On closing of the Agreement, the Company issued 1,997,151 common shares of the Company to Fulcrum Canada, at a deemed issue price of $0.125 per share, and issued 1,198,291 common shares of the Company to Global Energy Metals Corporation as a finder’s fee, at a deemed issue price of $0.125 per share. The common shares of the Company issued in connection with the Option are subject to a hold period of four months from the date of issuance in accordance with applicable securities laws in Canada.
About the Company
Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and northern Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina and owns 100% of the Ceovishte mineral exploration licence in southern Serbia. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.
ON BEHALF OF THE BOARD OF DIRECTORS
Terra Balcanica Resources Corp.
“Aleksandar Miškovic”
Aleksandar Miškovic
President and CEO
For the complete information on this news release, please contact Aleksandar Miškovic at amiskovic @pratt, or visit www.terrabresources.com/en/news.
Cautionary Statement
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to the acquisition of the licenses under the terms of the Agreement. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including, consents or authorizations required for mining activities, environmental regulations or hazards and compliance with complex regulations associated with mining activities, climate change and climate change regulations, fluctuations in exchange rates, the availability of obtaining necessary financings to complete the Option conditions and the business objectives of the Company, and such further risks as disclosed in the Company’s periodic filings with Canadian securities regulators. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.
Myriad Uranium Announces Exit from Niger
https://www.newsfilecorp.com/release/217530
July 23, 2024 6:40 PM EDT | Source: Myriad Uranium Corp.
Vancouver, British Columbia--(Newsfile Corp. - July 23, 2024) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") announces that the Company has resolved to quit or relinquish, as appropriate, any interests it may hold in Niger, effective immediately. In connection with such resolution, Myriad has terminated its property option agreement dated as of August 17, 2022 with Loxcroft Resources Ltd., as optionor of the Niger properties referenced therein.
Myriad's CEO Thomas Lamb commented: "Myriad has been prevented by reasons beyond its control from conducting operations in Niger since the July 2023 coup d'etat. We are now focusing all our attention on the Copper Mountain Uranium Project in Wyoming, USA., a project with significant past production, a large historical uranium resource, and exciting exploration upside."
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 (2024 dollars) exploring and developing Copper Mountain, generating significant historical resource estimates which are detailed here. A recent detailed update with Crux Investor can be viewed here. The Company's presentation can be viewed here.
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.
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.
Aero Energy and Fortune Bay Announce Completion of Drilling Program on the Murmac Uranium Project, Saskatchewan
Drill Currently Moving to the Adjacent Sun Dog Project
https://www.newsfilecorp.com/release/217524
July 24, 2024 7:00 AM EDT | Source: Aero Energy Limited
Vancouver, British Columbia--(Newsfile Corp. - July 24, 2024) - Aero Energy Ltd (TSXV: AERO) (OTC Pink: AAUGF) (FSE: UU3)
Bedford Metals Announces Phase 1 of Exploration Program for Close Lake Uranium Project
https://ca.finance.yahoo.com/news/bedford-metals-announces-phase-1-060000793.html
Bedford Metals Corp.
Mon, July 22, 2024 at 11:00 p.m. PDT·4 min read
URGYF
+3.31%
VANCOUVER, British Columbia, July 23, 2024 (GLOBE NEWSWIRE) -- Bedford Metals Corp. (TSX-V: BFM, FWB: O8D, ISIN: CA0762301012) (the “Company” or “Bedford”) is pleased to announce its 2024 Phase I field program for the Close Lake Uranium Project, located on the west side of the Athabasca Basin. Results from this program will be integrated with historical datasets to further enhance the dataset for the project.
The Phase I exploration program will include a comprehensive radon gas survey over the identified helium blooms (He1 and He2), as well as a 1000m hematite anomaly detected through VNIR (Visible Near Field Infrared) and SWIR (Shortwave Infrared) satellite investigations. Radon gas, like helium, is a decay product of uranium and serves as a pathfinder element for uranium.
The program will be executed in two stages. The initial stage involves deploying gas cups to collect radon gas. In the subsequent recovery stage, the cups will be collected and analyzed. This survey aims to prioritize and refine the exploration targets at Close Lake, setting the stage for subsequent diamond drilling.
Peter Born, President of Bedford, commented, “We are excited to commence the Phase I exploration program at Close Lake. The radon gas survey will provide us with critical data to better understand the subsurface uranium potential and refine our drilling targets. This program underscores our commitment to leveraging advanced exploration techniques to unlock the full potential of our projects.”
This exploration program at Close Lake will build on the Company’s other initiatives to advance its uranium projects. By integrating the radon gas survey data with existing datasets, Bedford aims to enhance its understanding of the project area and move closer to a significant uranium discovery.
Bedford remains dedicated to conducting all exploration activities to the highest environmental standards. The Company is committed to minimizing its environmental footprint and ensuring that all operations are sustainable and responsible. Additionally, Bedford values its relationships with local communities and indigenous groups and is committed to working collaboratively with these stakeholders to ensure its activities bring positive benefits to the region.
Dr. Peter Born, P.Geo., is the designated qualified person as defined by National Instrument 43-101, and the President of the Company, and is responsible for and has approved the technical information in this release.
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.
The Close Lake Uranium Project lies on the eastern side of the Athabasca Basin, adjoining claims held by Cameco Corporation, the largest uranium producer in the world. The claim is approximately 245 hectares and lies within the primary exploration corridor, which hosts the Keys Lake Mine, the Cigar Lake Mine and the McArthur River Mine. Access to the property is done through a network of roads and trails.
Close Lake Image #2 (1)
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.
Ubiquity-Location-rev1-April-25-2024-1024x791
The Sheppard Lake Uranium Project, covers an area of approximately 2250 hectares and adjoins the Ubiquity Lake Project to the southeast. The project area is characterized by rocks of the Mudjatik domain, where uranium mineralization is typically basement-hosted, situated within shears or faults, and formed through hydrothermal redistributions of dissolved metals and subsequent redox reactions.
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
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/a6a187ac-a91d-402f-92c4-591b31328b0c
https://www.globenewswire.com/NewsRoom/AttachmentNg/0d7531a8-ddf0-4ac0-9548-dacd7dc3d160
Searchlight Resources Reports Anomalous Uranium & Rare Earth MMI Results from Kulyk Lake Project
MMI survey highlights new Uranium and Rare Earth anomalies
Anomalous Uranium zone up to 400 m length at Whalesback Ridge
196 MMI samples collected on 2 grids along strike of 2022 sampling
Overlapping Uranium and Rare Earth anomalies
https://www.newsfilecorp.com/release/217393July 23, 2024 6:00 AM EDT | Source: Searchlight Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - July 23, 2024) - Searchlight Resources Inc. (TSXV: SCLT) (OTCQB: SCLTF) ("Searchlight" or the "Company") is pleased to report results of the Mobile Metal Ion (MMI) surveys on the Kulyk Lake Uranium and Rare Earth project, located approximately 75 kilometers northwest of La Ronge, Saskatchewan.
In October 2023, Searchlight conducted MMI surveys on the west side of Kulyk Lake, to expand on previous MMI surveys conducted in 2022. Two grids with 50 metre spaced sampling were established along strike of the 2022 grids (Maps 1, 2). In total, 196 MMI samples were collected in 2023, adding to the 242 samples collected in 2022. The combined MMI results highlight multiple Uranium and Rare Earth Element ("REE") anomalies.
Uranium results show an anomalous zone up to 400 metres in length at Whalesback Ridge, and new uranium anomalies at Hot Ridge (Map 1). Both Whalesback Ridge and Hot Ridge anomalies were initially discovered by Searchlight's 2021 airborne radiometric survey. Limited prospecting at Whalesback Ridge in 2022 yielded 670 ppm U3O8, and 540 ppm U3O8 in grab samples.
REE results identified a large anomalous zone at the north end of the Whalesback Ridge, and an anomalous zone at Hot Ridge (Map 2). Limited prospecting at Hot Ridge in 2022 yielded 0.95% Total Rare Earth Oxide ("TREO") and 0.85% TREO in grab samples. Of particular interest, the REE zone at Whalesback Ridge is coincident with the Uranium zone, demonstrating a close association between the Uranium and REE anomalies.
These anomalies parallel the Eldorado (Uranium) and Fanta (REE) drill-ready targets on the east side of Kulyk Lake.
"These results reinforce that Kulyk Lake is both a Uranium and REE prospect, with strong proximal association of the Uranium and REE mineralization. These new data add to Searchlight's belief that there are multiple additional Uranium and REE targets on the Kulyk Lake claims, yet to be discovered," stated Stephen Wallace, Searchlight's CEO.
Future exploration will include MMI sampling to connect the existing grids, along with detailed sampling at 25 m spacing in anomalous areas, plus prospecting and geological mapping. Additionally, airborne radiometric surveys will be flown over the rest of the 212.9 sq km claim block.
The Company is also planning a 1,500-metre diamond drill program for the Fanta REE and Eldorado Uranium targets. Fanta is a high-grade REE target, with historical results of up to 56.18% TREO from a monazite outcrop. At Eldorado, historical trench results include 0.785% U3O8 and 0.208% TREO over 1.1 m, and 0.365% U3O8 and 0.459% TREO over 0.25 m.
Map 1. 2022 and 2023 MMI results for Uranium (ppb), Kulyk Lake project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9828/217393_5afc66f57460db59_002full.jpg
Map 2. 2022 and 2023 MMI results for Rare Earth Elements (ppb), Kulyk Lake project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9828/217393_5afc66f57460db59_003full.jpg
According to SGS Canada Inc, the developers of the Mobile Metal Ion (MMI) technology, MMI™ is a proven advanced geochemical exploration technique known to find mineral deposits. MMI measures metal ions that travel upward from mineralization to unconsolidated surface materials such soil, till, sand and other media. Using careful soil sampling strategies, sophisticated chemical ligands, and ultra sensitive instrumentation, SGS is able to measure these ions. After interpretation, MMI data can indicate anomalous areas.
Source: SGS website, https://www.sgs.com/en-ca/services/mobile-metal-ions-mmi
Note on TREO
TREO = Total Rare Earth Oxides = Ce2O3+Dy2O3+Er2O3+Eu2O3+Gd2O3+Ho2O3+La2O3+Nd2O3+Pr6O11+Sm2O3+Tb4O7+Yb2O3
Qualified Person
Stephen Wallace, P.Geo., is Searchlight's Qualified Person within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.
About Searchlight Resources - Where the Critical Elements Supply Chain Begins
Searchlight Resources Inc. (TSXV: SCLT) (OTCQB: SCLTF) is a Canadian mineral exploration and development company focused on Saskatchewan, Canada, which has been ranked as the top location for mining investment in Canada by the Fraser Institute. The Company's exploration model of Project Generation coupled with Targeted Exploration, focuses on uranium, rare earths, copper, nickel and gold throughout the province.
On behalf of the Board of Directors,
"Stephen Wallace"
Stephen Wallace, President, CEO and Director
SEARCHLIGHT RESOURCES INC.
For further information, visit the Company's website at www.searchlightresources.com or contact:
Searchlight Resources Inc.
Alf Stewart, VP Corporate Development
(604) 331-9326
info@searchlightresources.com
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
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: Searchlight Resources Inc.
Western Uranium & Vanadium Provides Company Update
https://ca.finance.yahoo.com/news/western-uranium-vanadium-provides-company-124500532.html
Western Uranium & Vanadium Corp.
Mon, July 22, 2024 at 5:45 a.m. PDT·4 min read
WSTRF
-0.73%
Toronto, Ontario and Nucla, Colorado, July 22, 2024 (GLOBE NEWSWIRE) -- Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (“Western” or the ”Company”) is pleased provide the following updates.
New Director Election and Incentive Stock Option Grant
Michael Skutezky was recently elected as a new director at the Company’s Annual General and Special Meeting of Shareholders. In light of the significant improvements in uranium markets over the past year, the development of Western’s mining operations, and substantial advancements in our projects, the Company also sought to enhance its governance. To achieve this, we expanded our board of directors, adding an independent director with a complementary skill set and extensive expertise in the uranium industry.
Mr. Skutezky brings over 40 years of experience as an officer, counsel, and director of private and public resource sector companies, including several uranium and critical materials issuers. Previously, he served as Assistant General Counsel of the Royal Bank, where he specialized in international and Canadian project financing.
Following his election as a director, Michael has been granted 100,000 stock options ("Options") to purchase common shares under the Company’s Incentive Stock Option Plan. The Options were granted on July 14, 2024, and with the exercise price being set at CAD$2.00 based on the closing prices on both the last trading day and the prior trading day, and the pricing of units offered in the most recent private placement conducted by Western. Each option is exercisable to acquire one common share for a five-year term starting with the vesting date. The Options vest equally in two installments: July 31, 2024 and January 31, 2025.
Sunday Mine Complex Mining Operations
The mining teams are currently advancing the approximately 2,700-foot drift toward the Leonard & Clark deposit. To date, a total of 454 feet has been developed, including 362 feet of ramp footage. During the second quarter, the underground horizontal drilling program has achieved 12,339 linear feet of drilling.
San Rafael Uranium Project
The San Rafael Uranium Project, located in Emery County, Utah, is being developed as the Company's second production facility. Western has submitted a Notice of Intent to the U.S. Bureau of Land Management (BLM) and anticipates approval for this mineral and groundwater exploration project within approximately 30 days. The phase 1 drilling program is set to begin in 2024, following the completion of repairs to access roads. Initially, groundwater monitoring wells will be installed at five drilling locations, reaching depths of approximately 1,000 feet. During the borehole completion process, mineralization will also be assessed and confirmed against historical drill data. This project will provide the baseline data needed for permitting application submission.
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
SKRR Exploration Commences Drilling at the F3 Uranium Clearwater West Uranium Project, Saskatchewan
https://www.newswire.ca/news-releases/skrr-exploration-commences-drilling-at-the-f3-uranium-clearwater-west-uranium-project-saskatchewan-839301817.html
SKRR EXPLORATION INC. Jul 22, 2024, 04:00 ET
VANCOUVER, BC, July 22, 2024 /CNW/ - SKRR Exploration Inc. (TSXV: SKRR) (FSE: B04Q) ("SKRR" or the "Company") is pleased to announce that summer drilling has commenced to test conductors on the Clearwater West property which is located 13km to the south of Fission Uranium's Triple R uranium deposit (see SKRR's news release dated June 18, 2024).
Clearwater West is an early-stage exploration project prospective for uranium mineralization. The uranium mineralization model for the Clearwater West property is basement hosted and structurally controlled Athabasca Basin unconformity related deposits.
SKRR has an option to acquire up to a 70% interest in the Clearwater West Project from F3 Uranium Corp. (TSXV: FUU) ("F3").
Summary of the Clearwater West Property
The Clearwater West Project is comprised of 3 contiguous mineral claims totaling approximately 11,786 hectares and is located ~20km outside the edge and in the south-west area of the Athabasca Basin in Saskatchewan. SKRR cautions that past results or discoveries on proximate lands are not necessarily indicative of the results that may be achieved on the Clearwater West Project.
Basement hosted Athabasca unconformity related deposits often feature unique characteristics that can be identified by various geophysical surveys. A VTEM survey flown over the property in early 2014 defined electromagnetic (EM) conductors, some of which are interpreted to be possible extensions of the EM conductors identified on the PLS property immediately to the north.
F3's experienced and successful management and technical team, with a track record of three major high-grade uranium discoveries in the Athabasca Basin region since 2010 (Waterbury Lake project J Zone, PLS Triple R deposit and most recently the PLN JR Zone) will operate and manage Clearwater West.
Qualified Person
The scientific and technical contents of this news release have been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and have been reviewed and approved by Michelle McKeough, M.Sc., P.Geo., President of Terralogic Exploration Inc., a Qualified Person. Ms. McKeough has verified the data disclosed. The information provides an indication of the exploration potential of the Clearwater West Project but may not be representative of expected results.
About SKRR Exploration Inc.
SKRR is a Canadian-based precious and base metal explorer with properties in Saskatchewan – some of the world's highest ranked mining jurisdictions. The primary exploration focus is on the Trans-Hudson Corridor in Saskatchewan in search of world class uranium, precious, and base metal deposits. The Trans-Hudson Orogen – although extremely well known in geological terms has been significantly under-explored in Saskatchewan. SKRR is committed to all stakeholders including shareholders, all its partners and the environment in which it operates.
ON BEHALF OF THE BOARD
Sherman Dahl
President & CEO
Tel: 250-558-8340
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.
Forward-Looking Information
This news release contains "forward–looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, statements relating to the drill program at the Clearwater West project, statements relating to the technical, financial and business prospects of the Company, its projects, its goals and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. 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. 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, including the price of metals, the ability to achieve its goals, the ability to secure equipment and personnel to carry out work programs, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks filed under the Company's profile on SEDAR+ at www.sedarplus.ca. There is a possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, failure to obtain or maintain all necessary government permits, approvals and authorizations, decrease in the price of gold, copper, uranium and other metals, failure to obtain or maintain community acceptance (including First Nations), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward–looking statements or forward–looking information, except as required by law.
SOURCE SKRR EXPLORATION INC.
Sherman Dahl, President & CEO, Tel: 250-558-8340
IsoEnergy Announces Strategic Sale of its Argentina Portfolio
https://www.newswire.ca/news-releases/isoenergy-announces-strategic-sale-of-its-argentina-portfolio-850414379.html
IsoEnergy Ltd. Jul 22, 2024, 07:00 ET
SASKATOON, SK, July 22, 2024 /CNW/ - IsoEnergy Ltd. ("IsoEnergy", "ISO" or the "Company") (TSX: ISO) (OTCQX: ISENF) is pleased to announce that it has completed the sale (the "Transaction") to Jaguar Uranium Corp. ("Jaguar") of 100% of the issued and outstanding shares (the "Target Shares") of a wholly-owned subsidiary of IsoEnergy, which holds, indirectly, a 100% interest in the Laguna Salada Project located in Chubut and the Huemul Project located in Mendoza (together the "Properties"). Jaguar is an arm's length privately held company focused on the uranium sector with strong operating experience in Latin America and intends to pursue a listing on a recognized stock exchange in North America (the "Listing") in the coming months.
Transaction Highlights
Demonstrates Execution of Business Plan – The Transaction aligns with the Company's strategy to maximize shareholder value through accretive opportunities, demonstrating its ability to leverage non-core assets in favourable market conditions.
Enhances Focus on Core Jurisdictions – The Company maintains a focused production strategy, prioritizing near-term production in the US and ongoing development and exploration in Canada and Australia, all three of which are top uranium jurisdictions. The Transaction allows for the efficient allocation of resources and capital, maximizing the value of core assets.
Bolsters Equity Portfolio While Retaining Upside Potential – With a history of successful accretive M&A, the Transaction will enhance the Company's equity portfolio, which is estimated at C$16.9 million1 and includes holdings in NexGen Energy Ltd., Premier American Uranium Inc. and Atha Energy Corp., by adding approximately C$13.6 million in value. Additionally, IsoEnergy will enter into an investor rights agreement, securing continued exposure as the Properties are advanced through the right to participate in future equity financings and the right to elect one representative to the board of Jaguar.
Unlocks Value Through Expertise in Latin America – The Properties will be in the hands of Jaguar, a well-capitalized company with proven technical and operational expertise in Latin America, ensuring successful exploration and development.
Philip Williams, CEO and Director of IsoEnergy, commented, "Since the merger with Consolidated Uranium late last year, IsoEnergy has been largely focused on advancing the Laroque East project in the Athabasca Basin, host to the high-grade Hurricane Deposit, and restarting its past producing uranium mines in Utah, the Tony M, Daneros and Rim Mines. At the same time, we have been pursuing opportunistic transactions to realize value from "non-core" assets in the portfolio. Today's announcement is one such transaction. We firmly believe that every uranium pound in every jurisdiction will be required to meet expected future uranium demand and Jaguar, with its Berlin project in Colombia and now the IsoEnergy Argentinian Properties, has an important roll to play in South America. By taking equity as consideration IsoEnergy remains exposed to the upside in Jaguar shares and we look forward to supporting the company and its accomplished leadership team going forward."
____________________________
1 Estimated as of July 19, 2024 market close
Transaction Details
As consideration for the acquisition of the Target Shares, Jaguar has agreed to deliver to the Company (collectively, the "Consideration"):
(a) upon closing of the Transaction ("Closing"):
i. USD$10 million of Class A common shares of Jaguar (the "Jaguar Shares"), being 2,000,000 Jaguar Shares at a deemed price of USD$5.00 per share.
ii. A 2% net smelter returns (NSR) royalty payable on all production from the Laguna Salada Project. Jaguar will have the right to buy back 1% of the royalty for a period of seven years at a price of USD$2.5 million.
iii. A 1% NSR royalty payable on all production from a portion of the Huemul Project.
iv. An option to acquire a 1% NSR royalty payable on all production from the remainder of the Huemul project.
(b) if the Listing is not completed within 12 months following Closing, 400,000 additional Jaguar Shares at a deemed price of USD$5.00 per share; and
(c) assuming the Listing occurs, if the Listing price of the Jaguar Shares (the "Listing Price") is less than USD$5.00 per share, such number of additional Jaguar Shares to reflect (1) if the Listing is completed on or before 12 months following Closing, USD$10 million valuation of the Properties at the Listing Price (subject to a minimum price per Jaguar Share of USD$4.00); and (2) if the Listing is completed later than 12 months following Closing, USD$12 million valuation of the Properties at the Listing Price (subject to a minimum price per Jaguar Share of USD$4.00); provided that, in the event that Jaguar does not complete a concurrent financing for gross proceeds of at least USD$5 million in connection with the Listing, all of the Jaguar Shares issuable pursuant to this subparagraph will be issued at a deemed price of USD$4.00 per Jaguar Share.
The Jaguar Shares comprising the Consideration will be subject to a contractual resale restriction of six months following the date of the Listing.
In connection with Closing, ISO and Jaguar have also entered into an investor rights agreement (the "Investor Rights Agreement"), which provides ISO with, among other things:
(a) the right to participate in any future equity financing of Jaguar to maintain its pro rata interest in Jaguar (the "Participation Right"); and
(b) the right to nominate one member (the "Nominee") to the Jaguar Board, such Nominee to be supported by Jaguar in the same manner as all other members of the Jaguar Board (the "Nomination Right").
The Participation Right and Nomination Right will continue until such time as IsoEnergy and its affiliates cease to own at least 5% of the outstanding Jaguar Shares on partially-diluted basis.
About IsoEnergy Ltd.
IsoEnergy Ltd. (TSX: ISO) (OTCQX: ISENF) is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of Canada, the U.S., Australia, and Argentina at varying stages of development, providing near, medium, and long-term leverage to rising uranium prices. IsoEnergy is currently advancing its Larocque East Project in Canada's Athabasca Basin, which is home to the Hurricane deposit, boasting the world's highest grade Indicated uranium Mineral Resource.
IsoEnergy also holds a portfolio of permitted, past-producing conventional uranium and vanadium mines in Utah with a toll milling arrangement in place with Energy Fuels Inc. These mines are currently on stand-by, ready for rapid restart as market conditions permit, positioning IsoEnergy as a near-term uranium producer.
X: @IsoEnergyLtd
www.isoenergy.ca
About Jaguar Uranium Corp.
Jaguar Uranium Corp. is a rapidly growing Latin American consolidator of world-class assets, focused primarily on developing uranium as well as rare earths and other high value by-products. The Company's flagship assets include the Berlin deposit in Colombia as well as Laguna Salada, Huemul and Sierra Pintada in Argentina. The Company is led by a team with substantial uranium mining, permitting and capital markets experience with a focus on advancing the portfolio towards resource development, permitting and expansion across the continent. Jaguar's investors include leading global uranium developers who are aligned with the Company's goal of building shareholder value. More information can be found at the Company's website at www.jaguaruranium.com or info@jaguaruranium.com.
Neither the TSX Venture Exchange nor its Regulations 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 Information
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, completion of the Listing; the future direction of the Company's strategy; and other activities, events or developments that the Company expects or anticipates will or may occur in the future. 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.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the Listing will be completed, that that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: the failure of Jaguar to complete the Listing, negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves, the influence of a large shareholder, alternative sources of energy and uranium prices, aboriginal title and consultation issues, reliance on key management and other personnel, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals and the risk factors with respect to the Company set out in ISO's annual information form for the year ended December 31, 2023 and the other documents of ISO filed with the Canadian securities regulators and available under IsoEnergy's profile on SEDAR+ at www.sedarplus.ca.
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 IsoEnergy Ltd.
For More Information, Please Contact: IsoEnergy Ltd., Philip Williams, CEO and Director, info @Scotty-572-2333
Atomic Minerals Identifies Exploration Targets at Archie Lake Project, South of Athabasca Basin, Saskatchewan, Canada
https://www.newsfilecorp.com/release/216902
July 18, 2024 8:25 AM EDT | Source: Atomic Minerals Corp.
Vancouver, British Columbia--(Newsfile Corp. - July 18, 2024) - Atomic Minerals Corporation (TSXV: ATOM) ("ATOMIC MINERALS" or the "Company") is pleased to announce the identification of two distinct target zones at its 264-hectare Archie Lake Project in northern Saskatchewan. A detailed examination of historic datasets in conjunction with the increasing exploration activity and recent successes in the area immediately to the south of the Athabasca Basin drove the Atomic detailed review.
The Targets were highlighted from a review of a 2015 Falcon Airborne Gravity Gradiometry survey. Target Zone I (TZ1), located in the northwest quadrant of the property is characterized by a gravity low, while Target Zone 2 (TZ2), located in the southeast quadrant consists of several parallel subsurface conductors within a magnetic low, a classic Athabasca Basin uranium target. TZ1 and TZ2 are both associated with local faults or folds.
"Identifying these new exploration targets at our Archie Lake Project is a significant step forward for Atomic Minerals. Saskatchewan, particularly the Athabasca Basin, is a world-renowned jurisdiction for uranium, known for its high-grade deposits and stable regulatory environment. We are excited about the potential these targets present and are committed to advancing our exploration strategy to unlock their value," said Clive Massey, President & CEO of Atomic Minerals.
The 2015 FALCON® Airborne Gravity Gradiometry ("AGG") survey was completed by CGG Aviation (Australia) Pty Ltd for NexGen Energy Ltd. The nominal flight line spacing was 200 m with a nominal altitude of 80 m., with a total of 1,815-line km of data were evaluated and interpreted. AGG surveys acquire regional magnetic and electromagnetic data, which are evaluated alongside high-resolution gravity gradients to determine optimal target locations based on structural information and relative intensity. The purpose of the AGG is for the understanding of basement geology and assists in identifying potential alteration zones1.
Archie Lake
Situated in northern Saskatchewan and straddling the southwestern edge of the Athabasca Basin, the Archie Lake Project lies contiguous to NexGen Energy's significant land package to the north, east, and west. NexGen's holdings in this area focus on repeats of its Arrow high-grade basement-hosted uranium deposit. The Athabasca Basin in Canada is renowned for hosting the vast majority of the world's high-grade uranium deposits. The Company is currently designing a multiphase exploration strategy to explore these target zones, with further details to be announced shortly.
Figure 1. Location of Target Zones over Historic Falcon AGG data1
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10252/216902_25c48b0a24b78b72_002full.jpg
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.
Atomic has not undertaken any independent investigation of the geophysical surveys, nor has it independently analyzed the results of the historical exploration work in order to verify the results. Atomic considers these historical geophysical surveys relevant as it is using these surveys as a guide to plan exploration programs.
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
(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.
###
1Sourced: Analysis and Interpretation of Falcon Airborne Gravity Gradiometer Survey by Condor Consulting, Inc. for Nexgen Energy Ltd. - June 3, 2015 - Nicole Pendrigh, M.Sc. and Ken Witherly CPG-11536
SOURCE: Atomic Minerals Corp.
PANTHER MINERALS ENTERS INTO DEFINITIVE AGREEMENT TO ACQUIRE THE HUBER HEIGHTS URANIUM PROPERTY, ELKO COUNTY, NEVADA
https://www.newswire.ca/news-releases/panther-minerals-enters-into-definitive-agreement-to-acquire-the-huber-heights-uranium-property-elko-county-nevada-838226229.html
Panther Minerals Inc. Jul 18, 2024, 08:00 ET
VANCOUVER, BC, July 18, 2024 /CNW/ - Panther Minerals Inc. ("Panther Minerals" or the "Company") (CSE: PURR) (OTC: GLIOF) (FWB: 2BC) is pleased to announce that further to it's press release on July 9th, 2024, it has entered into a definitive agreement (the "Definitive Agreement") with 1484506 B.C. Ltd. ("148 BC") dated July 18th, 2024, providing for the acquisition by the Company of 148 BC, which holds the beneficial interest in the Huber Heights Uranium property (the "Property"), located in northern Elko County, Nevada from the shareholders of 148 BC (the "Transaction").
The Property is comprised of 35 unpatented mineral claims (700 acres, 283 ha), located near the village of Mountain City, Elko County, Nevada. The Property covers known uranium prospects and showings that were discovered in the 1950s, including the Autunite and October Group prospects, and the Huber Hills Granite Ridge prospect.(1)
As previously disclosed, the Property lies within the Mountain City Mining District, centered approximately 110 kilometres north of the gold mining city of Elko, Nevada. The district was founded on gold and silver in the late 1860s, but the most significant discovery was the Rio Tinto copper deposit in 1931. Mined until 1947, the Rio Tinto mine at Mountain City was the highest-grade copper mine during much of its operating life with a grade of 9.7% Cu.(2).
Nevada government reports(1) and online sources indicate that there are two general types of uranium deposits on the Property and in the surrounding area. One type of uranium mineralization occurs along vertical fractures and/or shear zones in quartz monzonite (Autunite and October prospects), associated with intense alteration that tends to weather recessively. This target is expected to be largely overburden covered, requiring geophysical applications and shallow drilling. This uranium mineralization can be associated, or close to molybdenum mineralization,(1) which may be a useful geochemical pathfinder mineral.
The other type of uranium mineralization is related to the contact zone between the underlying Cretaceous quartz monzonite and the overlying Tertiary volcanic sediments. At the Race Track mine, contiguous to, and south of the Property, an apparent basal tuffaceous layer with bentonite (and possibly montmorillonite) alteration, has been described as a shear zone separating the quartz monzonite from the granite. The Race Track mine was the largest producer of uranium during the 1950s and 1960s in Elko county, producing nearly 10,000 pounds of U3O8 from ore grading 0.24 per cent U3O8.(1).
Vikre, P.G et.al, reports "The deposits formed between 40 and 20 million years ago where groundwater leached uranium from local ash-flow tuffs or granites and redeposited this uranium in zones of high porosity and permeability (faults or poorly consolidated sediments below ash-fall tuffs) (Proffitt and others, 1982). Uranium was chemically trapped and removed from groundwater by montmorillonite clay that is derived from alteration of volcanic rocks and by carbonaceous debris incorporated into the volcanic and sedimentary host rocks."
The Property is interpreted to covers the north-western portion of the Mountain West property, formerly owned and worked by Bayswater Uranium (Kilgore Minerals Co.). The Mountain West property was explored between 1967 and 1983 by Pathfinder Mines (owned by Cogema) and its predecessor Utah Construction and Mining Co. According to Bayswater press releases, the exploration program consisted of the drilling of 359 holes in the general area.(1) The Property is under-explored by modern exploration technology. The Company plans to complete rapid and cost-efficient exploration activities such as drone magnetics, geological mapping, geophysical and radiometric surveys to confirm existing targets and outline new anomalies, followed by drilling.
The Company does not have any information of the drill holes on the Property. The exploration information presented herein includes historical data developed by previous operators of the Property. The Company is providing these historical data for informational purposes only and gives no assurance as to their reliability and relevance to the Company's proposed exploration program at the Property. The Company has not completed any quality assurance program or applied quality control measures to the historical data.
Under the terms of the Definitive Agreement, at closing of the Transaction (the "Closing"), the Company will issue an aggregate of 5,000,000 common shares in the Company (the "Consideration Shares") to the shareholders of 148 BC pro rata to their respective shareholdings in 148 BC. The Company will also make a cash payment of CAD$20,000 to one of the shareholders of 148 BC in payment of 148 BC's legal and professional costs for the Proposed Transaction. The Transaction arm's length and there are no finder's fees payable in connection therewith. The Consideration Shares expected to be issued at Closing will be subject to a 6-month voluntary lock-up period, whereby the recipients of the Consideration Shares will be restricted from trading the Consideration Shares (the "Initial Lockup Period"). Following the Initial Lockup Period, the Consideration Shares will be released at a rate of 20% per month. Closing of the Transaction is expected on or around July 25, 2024.
The Closing is subject to a range of conditions, including, but not limited to, the receipt of all required shareholder and regulatory approvals.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved for disclosure by Lindsay Bottomer, PGeo. Mr. Bottomer is a qualified person within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and is a consultant for the Company.
Sources
(1)
Vikre, P.G., et.al.,, 2016, Geology and Mineral Resources of the Sheldon-Hart Mountain National Wildlife Refuge Complex (Oregon and Nevada), the Southeastern Oregon and North-Central Nevada, and the Southern Idaho and Northern Nevada (and Utah) Sagebrush Focal Areas, U.S. Geological Survey U.S. Geological Survey Scientific Investigations Report 2016–5089–B, 225 p.
(2)
LaPointe, D.D., Tingley, J.V., and Jones, R.B., 1991, Mineral resources of Elko County Nevada: Nevada Bureau of Mines and Geology Bulletin 106, 236 p.
About Panther Minerals Inc.
Panther Minerals 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 continuing intention of pursuing advanced, high-quality prospective uranium projects that can be readily worked on and efficiently explored, in a timely manner.
ON BEHALF OF THE BOARD OF DIRECTORS
Mr. Robert Birmingham, Chief Executive Officer
For more information please visit: www.pantherminerals.ca or 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 news release contains forward-looking information relating to the timeline associated with Closing of the Transaction, the benefits of the Transaction to the Company and the receipt of all required approvals including without limitation applicable regulatory authorities. 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; 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 on the Company's profile at www.sedarplus.ca.
SOURCE Panther Minerals Inc.
Myriad Uranium Initiates Geophysical Survey at Copper Mountain Uranium Project, Wyoming, USA
Myriad Uranium holds a 75% earnable interest in the Copper Mountain Uranium Project which saw US$78m (2024$) in exploration and development expenditures by Union Pacific during the 1970s.
Union Pacific drilled approximately 2,000 boreholes, discovered 7 uranium deposits, and developed a 6-pit mine plan at Copper Mountain, estimating resources of between 15.7 and 30.1 Mlbs eU3O8 and estimating the further potential of known and speculated targets within the project area to be over 65 Mlbs. These estimates are historical and not yet current under NI 43-101.
Myriad intends to bring these historical resources current under NI 43-101 and, if possible, go beyond them, initially focusing on the 'High Grade Zone' of the Canning Deposit (see Figure 1) which hosts the largest estimated historical resource at Copper Mountain.
A ground magnetometer survey is now underway over 571 acres at Canning. Line spacing is 25 metres along a total of 104.8 line-kilometres. The magnetometer survey will be followed by an 84-hole exploration drill program later this summer.
The goal of the drill program is to begin converting the large historic uranium resource at Copper Mountain into current categories under National Instrument 43-101.
Myriad's CEO Thomas Lamb commented: "The Copper Mountain Uranium Project has a very large historical resource and significant expansion potential. The goal of this season's program is to begin bringing those pounds current under NI 43-101. Thanks to considerable review work conducted since 1982 by Anaconda (ARCO), Neutron Energy (now enCore), and several leading consultants, we now have a much better understanding of the project's mineralisation than Union Pacific had, and we believe there is significant potential to increase historic grades and volumes and discover new large deposits."
https://www.newsfilecorp.com/release/216793
July 17, 2024 7:30 AM EDT | Source: Myriad Uranium Corp.
Vancouver, British Columbia--(Newsfile Corp. - July 17, 2024) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that the Company has initiated a ground magnetometer survey over the Canning Deposit, at the centre of the 4,206 acre Copper Mountain Uranium Project, located in Wyoming, U.S.A. Myriad Uranium is planning to follow up the ground magnetometer survey with an 84-hole exploration drill campaign to commence later this summer.
Myriad Uranium holds a 75% earnable interest in the Copper Mountain Uranium Project which underwent US$78m (2024$) in exploration and development expenditures by Union Pacific during the 1970s, including more than 2,000 boreholes, and the discovery of 7 uranium deposits and numerous prospects. Union Pacific developed a 6-pit mine plan focused on the Canning Deposit based on estimated historical resources across the 7 uranium deposits (excluding other historical prospects and past producing mines) of 15.7 to 30.1 million pounds ("Mlbs"). Union Pacific estimated the further potential of known and speculated targets within the project area to be over 65 Mlbs. These estimates are historical and not yet current under
NI 43-101.
The principal goal of Myriad Uranium's geophysical survey program and upcoming drilling program is to convert the large historic uranium resource at Copper Mountain into current categories under National Instrument 43-101. With important insights drawn from review work since Union Pacific's drilling, Myriad's field program will also aim to re-assess the mineralisation associated with steeply dipping structures that are believed to run from surface or near-surface to a depth well beyond what was generally the maximum depth of historic drilling by Union Pacific during the 1970s, which was approximately 183 metres. These structures, and their associated fracture zones, which were relatively poorly understood by Union Pacific, are known to host higher grades of uranium and thought to continue to considerable depth.
Ground Magnetometer Survey
A team from Géophysique TMC has been deployed to carry out a ground magnetometer survey over the Canning deposit area. The aim of the survey is to delineate the aerial extent of known favourable structures and to help identify and delineate other structures with zones of intense fracturing and brecciation. Variations in magnetic intensity are expected to arise from several factors including varying degrees of alteration and weathering in the fracture stock (slight to total destruction of magnetic minerals), the presence of mafic dikes and metasedimentary xenoliths of Precambrian age scattered throughout the area, varying depths of burial of quartz monzonite (horsts, grabens and tilted blocks), or variations in primary concentrations of magnetic minerals in the stock, all of which could demonstrate an association with uranium mineralisation.
The survey is planned to cover an area of approximately 231 hectares (571 acres) at 25 m line spacing in the north-south orientation (with 250 m east-west tie lines) along a total of 104.8 line-km.
Figure 1: Planned ground magnetic survey lines over the Canning Deposit area
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Drilling
The Company has applied for permission to drill. BRS Engineering based in Riverton, Wyoming, has prepared and submitted a Drilling Notification to Wyoming's Department of Environmental Review, and related archaeological and ecological surveys are underway. Subject to a successful application, the Company plans to commence drilling at Copper Mountain later this summer.
The focus of the 2024 field program will be the "High Grade Zone" along the north side of the Canning Deposit, which is associated with the Canning Fault zone (see Figure 2). In a March 5, 2024 news release viewable here, the Company reported grade intervals relating to 82 boreholes drilled into western portion of this area by Union Pacific during the 1970s. The reported intervals were derived from cross-sections drawn by Anaconda (ARCO) during 1996-1997. The drilling encountered uranium mineralization in intervals of up to 291 feet and grades of up to 3850 ppm eU3O8. Some of these holes were terminated in mineralization.
Figure 2: Planned Drill Grid at the Canning Deposit's High-Grade Zone
To view an enhanced version of this graphic, please visit:
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The Company's goal is to report a maiden mineral resource estimate by the end of Q1 2025 and then continue drilling the project intensively.
Myriad's CEO Thomas Lamb commented: "The Copper Mountain Uranium Project has a very large historical resource and significant expansion potential. The goal of this season's program is to begin bringing those pounds current under NI 43-101. Thanks to considerable exploration work conducted since 1982 by Anaconda (ARCO), Neutron Energy (now enCore), and several leading consultants, we now have a much better understanding of the project's mineralisation than Union Pacific had, and we believe there is significant potential to increase historic grades and volumes and discover new large deposits."
A total of 84 boreholes (56 by reverse circulation and 28 by diamond core drilling) are planned to fully test the high-grade zone of the Canning deposit. An average depth of 500 feet per borehole is budgeted, but some holes will be selected to drill to 1,000 feet or more to test the deeper parts of the high-grade zone, which is known to be fault-controlled.
Historical Estimates
While Myriad Uranium has determined that the historical estimates described in this news release are relevant to the Copper Mountain Project area and are reasonably reliable given the authors and circumstances of their preparation, and are suitable for public disclosure, readers are cautioned to not place undue reliance on these historical estimates as an indicator of current mineral resources or mineral reserves at the project area. A qualified person (as defined under NI 43-101) has not done sufficient work to classify any of the historical estimates as current mineral resources or mineral reserves, and Myriad Uranium is not treating the historical estimates as a current mineral resource or mineral reserve. Also, while the Copper Mountain Project area contains all or most of each deposit referred to, some of the resources referred to may be located outside the current Copper Mountain Project area. Furthermore, the estimates are decades old and based on drilling data for which the logs are, as of yet, predominantly unavailable. The historical resource estimates, therefore, should not be unduly relied upon.
Inherent limitations of the historical estimates include that the nature of the mineralization (fracture hosted) makes estimation from drill data less reliable than other deposit types (e.g, those that are thick and uniform). From Myriad Uranium's viewpoint, limitations include that the Company has not been able to verify the data itself and that the estimate may be optimistic relative to subsequent work which applied a "delayed fission neutron" (DFN) factor to calculate grades. On the other hand, DFN is controversial, in that the approach is viewed by some experts as too conservative. Nevertheless, it was applied in later resource estimations by Union Pacific relating to Copper Mountain.
In order to verify the historical estimates and potentially re-state them as current resources, a program of digitization of available data is required. This must be followed by re-logging and/or re-drilling to generate new data to the extent necessary that it is comparable with the original data, or new data that and can be used to establish the correlation and continuity of geology and grades between boreholes with sufficient confidence to estimate mineral resources.
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. Mr van der Walt is employed by The MSA Group (Pty) Ltd (MSA), a leading geological consultancy providing services to the minerals industry, based in Johannesburg, South Africa. He has more than 20 years industry experience and sufficient relevant experience in the type and style of mineralisation to report on exploration results.
The information and interpretations thereof are based on the Qualified Person's initial review of historical reports, which were recently obtained by the Company. 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. The Qualified Person considers the information to be relevant based on the amount and quality of work undertaken and reported historically. 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 (2024 dollars) exploring and developing Copper Mountain, generating significant historical resource estimates which are detailed here. A recent detailed update with Crux Investor can be viewed here. The Company's presentation can be viewed here.
Myriad also has a 50% interest in the Millen Mountain Property in Nova Scotia, Canada, with the other 50% held by Probe Metals Inc., and an 80% interest in uranium exploration licences in Niger. 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.
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.
Saville Announces TSX Venture Approval of Acquisition and Closing of Transaction
https://www.accesswire.com/889539/saville-announces-tsx-venture-approval-of-acquisition-and-closing-of-transaction
Tuesday, 16 July 2024 08:05 PM
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESSWIRE / July 16, 2024 / Saville Resources Inc. (TSXV:SRE)(FSE:S0J) (the "Company") is pleased to announce that, further to its news release dated June 23, 2024, it has received TSX Venture Exchange ("TSXV") approval in respect of its securities exchange agreement (the "Securities Exchange Agreement") dated June 21, 2024 with 1398827 B.C. Ltd., ("PrivCo") and the securityholders of PrivCo to acquire all of the issued and outstanding securities of PrivCo in exchange for securities of the Company issued on a one-for-one basis (the "Transaction"). The Transaction subsequently closed on July 16, 2024.
The Company intends to assume the exploration of PrivCo's flagship mineral resource asset, the Hornby Property (the "Property") located in Nunavut Territory, Canada.
About PrivCo and the Hornby Property
PrivCo is a private company incorporated pursuant to the laws of British Columbia and headquartered in Vancouver, British Columbia.
The Property is located in the Hornby Basin, Nunavut Territory with mineral licences located directly adjacent to IsoEnergy's Mountain Lake Deposit that contains a historical mineral resource of 1.6M Tonnes of 0.23% U3O8 (8.2Mlbs of Uranium) ("Mountain Lake Property Nunavut" dated February 15, 2005 reported by Triex Mineral Corporation). The Property is large, consisting of 51 mineral licences, encompassing a total land area of ~72,048ha (~72km2).
Transaction Terms
Pursuant to the Securities Exchange Agreement, the Company issued 5,100,000 common shares to the shareholders of PrivCo on closing. In addition, the 2,550,000 outstanding warrants of PrivCo, which are exercisable at $0.075 until May 27, 2025, and 400,000 options of PrivCo exercisable at a price of $0.20 until June 1, 2026 were replaced by warrants and options (respectively) of the Company on the same terms.
Pursuant to theSecurities Exchange Agreement, PrivCo is now a wholly-owned subsidiary of the Company. The Company added the Property to its existing Property portfolio, and will further assess the exploration and development potential thereof. Following the closing of the Transaction, the Company may also target other mineral exploration opportunities if it determines such targets have sufficient geological or economic merit and if the Company has adequate financial resources to complete such acquisitions.
On behalf of the Board of Directors
SAVILLE RESOURCES INC.
"Mike Hodge"
Mike Hodge, President
Tel: 604.681.1568
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the TSX Venture Exchange nor its Regulation Service 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 does not constitute an offer to sell or 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 a U.S. person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Forward-Looking Statements
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include but are not limited to market conditions and the risks detailed from time to time in the filings made by the Company with securities regulators. 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. The reader is cautioned not to place undue reliance on any forward-looking information, including, but not limited to, statements regarding the Transaction, including the Company's anticipated business and operational activities following the closing of the Transaction, the prospects of the Property, and the Company's plans with respect to the exploration of the Property. Factors that could cause actual results to vary from forward-looking statements or may affect the operations, performance, development and results of the Company's business include, among other things, the risk that the Transaction does not result in the anticipated benefits to the Company, including that the Company is unable or determines not to carry out exploration or development work on the Property; the Company's ability to generate sufficient cash flow to meet its current and future obligations; that mineral exploration is inherently uncertain and may be unsuccessful in achieving the desired results; that mineral exploration plans may change and be re-defined based on a number of factors, many of which are outside of the Company's control; the Company's ability to access sources of debt and equity capital; competitive factors, pricing pressures and supply and demand in the Company's industry; and general economic and business. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
SOURCE: Saville Resources Inc.
Aero Energy Discovers New Visible Mineralization at Surface and Pinpoints Drill Targets at Sun Dog Project near Uranium City, Saskatchewan
Recent prospecting by Aero Energy and Standard Uranium has bolstered drill targets through discovery of new uranium zones at multiple target areas
https://www.newsfilecorp.com/release/216974
July 18, 2024 7:05 AM EDT | Source: Aero Energy Limited
Vancouver, British Columbia--(Newsfile Corp. - July 18, 2024) - Aero Energy Ltd. (TSXV: AERO) (OTCQB: AAUGF) (FSE: UU3) ("Aero" or the "Company") is pleased to announce new prospecting results and drill target areas at its Sun Dog Uranium Project ("Sun Dog", or the "Project") located near Uranium City in northwestern Saskatchewan. An additional fully funded drilling campaign is scheduled to commence in the coming week, designed to test high-priority targets with the potential to discover high-grade, unconformity-related basement-hosted uranium mineralization along structural and conductive corridors.
The Project is currently under a three-year earn-in option agreement (the "Option") with Standard Uranium Ltd. ("Standard") (TSXV: STND) that was executed on October 20, 2023. The program will be funded by Aero and will be operated by Standard.
Highlights:
Drilling at Sun Dog Imminent: Multiple prospective drill targets have been prioritized following prospecting of conductive (graphitic) rock trends identified from the recent VTEMTM Plus airborne survey.
Undrilled Target Areas: Targets are designed to test conductive corridors marked by newly discovered radioactive graphitic fault zones outcropping at surface (Figure 1).
Wishbone Target Area: Recent prospecting has outlined new and historical uranium mineralization at surface with radioactivity readings up to 22,300 counts per second* ("cps") within and immediately adjacent to graphitic pelite (Figure 2) that has never been drill tested.
McNie Target Area: More than 4km of untested VTEMTM conductors off-set by major faults which host known uranium showings to the east and to the west towards the past-producing Gulch uranium mine (Figure 3).
Spring-Dome Target Area: New and historical zones of strong radioactivity >65,535 cps* at surface associated with visible uranium mineralization have been discovered during the recent prospecting program at the Spring-Dome target area (Figure 4).
Historical High-Grade Uranium Assays: The Wishbone and Spring-Dome Target Areas contain numerous historical high-grade** uranium assays from outcrop samples that range from 0.30% to 17.4% U3O83,4.
2024 Sun Dog Drill Program: Drilling is expected to commence on July 21st with the program comprising approximately 1,000 to 1,200 metres within five (5) to seven (7) drill holes. The program will be results-driven with modification made based on ongoing results and interpretations.
Drilling Continues at Murmac: Drilling is progressing well at the adjacent Murmac Project and the Company looks forward to sharing a progress update in combination with Fortune Bay Corp in the immediate future.
Galen McNamara CEO of Aero Energy stated: "Our recent discovery of strong radioactivity in the right host rocks known as graphitic pelite in hole M24-017 on the adjacent Murmac Property with partner Fortune Bay Corp proves that our exploration thesis in the area is correct. This in turn unlocks a new search space spanning over 30 km along which there are extensive and untested bodies of these graphitic pelite trap rocks known to host significant high-grade uranium deposits like Arrow and Triple R around the Athabasca Basin. These areas now represent very high priority drill targets and we look forward to testing them."
Below: Aero Energy CEO, Galen McNamara, and Technical Advisor, Garrett Ainsworth, measuring surface radioactivity at the Wishbone target area on the Sun Dog Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/216974_f28944f8b451e845_002full.jpg
Figure 1. High-grade uranium occurrences and EM-conductors present on the Sun Dog Project, highlighting 2024 summer drill target areas.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/216974_f28944f8b451e845_003full.jpg
Figure 2. Detail map of the Wishbone target area highlighting newly discovered mineralized graphitic pelite outcrop and untested VTEM conductors.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/216974_f28944f8b451e845_004full.jpg
Figure 3. Detail map of the McNie target area highlighting uranium showings and untested VTEM conductors.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/216974_f28944f8b451e845_005full.jpg
Figure 4. Detail map of the Spring-Dome target area highlighting newly discovered strong radioactivity >65,535 cps and drill targets.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/216974_f28944f8b451e845_006full.jpg
Drill Target Selection
Target Selection for 2024 Drill Campaign
Targets were selected and prioritized through an iterative approach working in collaboration with Standard Uranium and Convolutions Geoscience teams. Recent prospecting and mapping at the Wishbone, McNie, and Spring-Dome target areas has outlined multiple outcrops of favourable uranium host-rocks, including graphitic pelite, which is commonly radioactive over >200 m of collective strike length. Structural measurements and radioactivity mapping has further refined drill targets in these areas.
Targets are ranked and prioritized based on geophysical signature, geological/structural setting, proximity to historical uranium occurrences of interest, and the Company's recent prospecting and mapping campaign. A total of seven (7) priority targets were identified (Figure 1) to encompass a variety of target types and provide a third phase of regional testing across the Project:
Wishbone Target Area:
Approximately five kilometres of strike length along a regional scale anticline, defined by strong VTEM conductors with associated radioactivity that has never been drill tested.
Graphitic pelitic rocks have been mapped along both fold limbs, hosting strong radioactivity up to 22,300 cps.
Mineralized cross-cutting faults have been mapped in the overlying rocks which intersect the uranium-bearing graphitic pelite unit.
Historical outcrop sampling at the northwestern graphitic pelite exposure returned assay results of 0.32% U3O8 and 0.30% Cu (SMDI #2095).
McNie Target Area:
Approximately four kilometres of untested VTEM conductor strike length.
The corridors are off-set by significant E-W trending regional faults, which host known uranium showings to the east towards the newly discovered zone at target H15 on the Murmac Project, and to the west towards the past-producing Gulch uranium mine.
Spring-Dome Target Area:
Historically explored Gunnar-style target focused on mineralized carbonatized granites and pitchblende veins and fractures.
The Spring-Dome area has been historically drilled with intersections over 1.0% U3O8; however, several showings of uranium values up to 17.4% U3O8 and radioactivity readings >65,535 cps have not been properly drill-tested.
The Company is currently evaluating the priority of this area through prospecting, mapping, and geological modeling. The target area represents the possibility of a uranium deposit akin to the nearby past-producing "Beaverlodge-style" Gunnar mine.
Other high-priority target areas including Haven, Java, and Skye are being reviewed with new datasets and models for a possible winter drill program in 2025.
Recent Geophysical Data Acquisition & Interpretation
A helicopter-borne geophysical survey, including electromagnetics and magnetics, was completed during late April 2024. The survey was undertaken by Geotech Ltd. using the VTEM™ Plus geophysical system. The survey covered the entire Project on a 100-metre line spacing, obtaining new coverage and refining historical EM surveys on the Project. Ground gravity data acquired during 2022 and historical resistivity data were subject to 3D inversion and modelling. The geophysical data processing, interpretation and integration to assist in the prioritization of drill targets was completed by Convolutions Geoscience Corporation ("Convolutions").
Background & Previous Work
Sun Dog 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 largely not exposed at the surface. Instead, they are typically 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.
Recent exploration efforts by Standard Uranium have focused on the most promising historical target areas along the edge of the Athabasca Basin, 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 by Standard Uranium 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. 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.
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. The 2022 and 2023 diamond drill programs were successful in identifying key geological characteristics prospective for significant uranium mineralizing systems on the Project, including widespread hydrothermal alteration zones containing dravitic clays, reactivated graphitic shear zones and quartz-hematite breccias, and uranium mineralization including 0.042 wt.% U308 from 79.0 to 79.5 m and 0.021 wt.% U308 from 79.5 to 80.0 m in drill hole SD-23-013.
*Natural gamma radiation in outcrop reported in this news release was measured in counts per second (cps) using a handheld RS-125 super-spectrometer. 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.
**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".
Qualified Person
The technical content of this news release has been reviewed and approved by Galen McNamara, P. Geo., CEO of the Company and a qualified person as defined by National Instrument 43-101.
Historical Data
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 Aero Energy Ltd.
Aero Energy is a mineral exploration and development company advancing a district-scale 250,000-acre land package in the historic Uranium City district within Saskatchewan's Athabasca Basin. Aero Energy is focused on uncovering high-grade uranium deposits across its flagship optioned properties - Sun Dog, Strike, and Murmac - in addition to its fully owned properties. With the application of modern exploration techniques, the Company has identified over 50 shallow drill-ready targets and 125 kilometres of target horizon on the frontier north rim of the Athabasca Basin. Aero Energy is tapping into the Athabasca Basin's emerging potential for high-grade, unconformity-style mineralization.
On Behalf of the Board of Directors
Galen McNamara, Interim Chief Executive Officer
Further information on the Company can be found on the Company's website
at aeroenergy.ca and at www.sedarplus.ca, or by contacting the Company by email
at info@aeroenergy.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 and historical report from Uranium City Resources, 2007
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.
SOURCE: Aero Energy Limited
Premier American Uranium Commences Inaugural Exploration Drill Program at its Cyclone ISR Project, Wyoming
https://ca.finance.yahoo.com/news/premier-american-uranium-commences-inaugural-110000866.html
Premier American Uranium Inc
July 11, 2024·7 min read
PAUIF
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TORONTO, July 11, 2024 (GLOBE NEWSWIRE) -- Premier American Uranium Inc. (“PUR”, the “Company” or “Premier American Uranium”) (TSXV: PUR) (OTCQB: PAUIF) is pleased to announce that it has commenced its inaugural exploration drill program at the wholly-owned Cyclone ISR Uranium Project (“Cyclone” or the “Project”) in the Great Divide Basin, Wyoming, in the vicinity of Ur-Energy Inc.’s Lost Creek ISR uranium mine and other former uranium mining facilities (Figure 1). The exploration drill program at Cyclone is designed to systematically investigate the resource potential identified in the National instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101) (“Technical Report”), with an effective date of June 30, 2023, which outlined a resource exploration target of 7.9 million pounds to 12.6 million pounds of eU3O8 at a grade of approximately 0.06% U3O8. This target is underpinned by data from 88 holes drilled in 2007-2008 by previous operators, which demonstrated the presence of sandstone-hosted uranium mineralization within a geologic setting conducive to In Situ Recovery (“ISR”) extraction.1
Highlights
71 reverse circulation drill holes totalling approximately 49,700 ft. are planned for 2024 and 2025 drill seasons.
Two priority targets are expected to be tested, including Cyclone Rim Target (North Block) and Osborne Draw Target (East Block), see Figure 2 below.
At the Cyclone Rim Target, drilling has commenced with one rig scheduled to drill 35 holes to an average depth of approximately 500 ft.
At the Osborne Draw Target, drilling is anticipated for the 2025 season (~July to October) and contemplates approximately 36 drill holes with an average depth of ~800 ft.
The budget for the program is approximately US$2.3 million.
The reverse circulation drilling services contract has been awarded to Boart Longyear.
Colin Healey, CEO of PUR commented, “We are extremely excited to have mobilized for the inaugural exploration program at Cyclone. With the systematic approach we have put in place, we believe we are in the best position possible to locate and delineate uranium resources at the targets. We are proud of our technical and regulatory teams’ success in designing and permitting the exploration program in Wyoming and look forward to announcing results of drilling in due course throughout the summer. Additionally, we wish to acknowledge the support of the US Bureau of Land Management (BLM), Wyoming Department of Environmental Quality and the Wyoming Game and Fish Department throughout the permitting process and look forward to strengthening these working relationships as we advance the Project. Exploration is a key pillar of PUR’s strategy to unlock value for shareholders from our portfolio of US assets in premium jurisdictions and today’s announcement is a major milestone in PUR’s short history as we commence exploration drilling at Cyclone.”
Cyclone Project
The Cyclone Project is situated in the Wyoming Basin physiographic province in south-central Wyoming and within the Great Divide Basin (Figure 1). Uranium mineralization occurs in the Tertiary Battle Spring Formation as sandstone-hosted roll-fronts. PUR’s mineral holdings include 1,150 unpatented mining claims and 7 State leases. In total, the Project comprises approximately 27,629 acres. The area was explored by various companies and the US government beginning in the 1950’s.
Wyoming has led the US in uranium mining since 1995, and since the first uranium mines started operating in 1951, the state has produced more than 238 million pounds of uranium concentrate. Wyoming hosts the largest known economic uranium ore reserves in the US, which are located in the Powder River Basin, Great Divide Basin, Shirley Basin, and Gas Hills (Wind River Basin).2
Figure 1: Location of the Cyclone Project, Great Divide Basin, Wyoming
Location of the Cyclone Project, Great Divide Basin, Wyoming
Exploration Drilling at Cyclone Project
The Project consists of two target areas known as the Cyclone Rim Target (North Block) and the Osborne Draw Target (East Block). PUR expects to drill-test both targets in a fully permitted, staged, program totalling approximately US$2.3 million (~71 holes, ~49,700 ft.) that will span the 2024 and 2025 drilling seasons.
Figure 2: Drill Targets with Radiometrics at the Cyclone Project, Great Divide Basin, Wyoming
Drill Targets with Radiometrics at the Cyclone Project, Great Divide Basin, Wyoming
The first stage of drilling envisions the completion of approximately 35 holes at the Cyclone Rim target this summer, and now underway, carrying an average depth of approximately 500 ft. (total of ~17,500 ft.). Mineralization at the Cyclone Rim target occurs at approximately 400 ft.
The majority of the drilling on the Osborne Draw target is expected to occur during the 2025 drilling season (~July to October), with the potential, weather and time permitting, to conduct some initial drilling this year. Mineralization at the Osborne Draw target occurs at approximately 700 ft. Approximately 36 holes drilled to an average depth of ~800 feet (total of ~28,800 ft.) are planned.
Qualified Person Statement
The scientific and technical information contained in this news release was reviewed and approved by Dean T. Wilton, PG, CPG, MAIG, a consultant of PUR who is a “Qualified Person” (as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects).
For additional information regarding the Company’s Cyclone Project, including data verification related to certain scientific and technical information described in this news release, please see the Technical Report titled “Technical Report on the Cyclone Rim Uranium Project, Great Divide Basin, Wyoming, USA” dated June 30, 2023, which is available under the Company’s profile on SEDAR+ at www.sedarplus.ca.
About Premier American Uranium
Premier American Uranium Inc. is focused on the consolidation, exploration, and development of uranium projects in the United States. One of PUR’s key strengths is the extensive land holdings in three prominent uranium-producing regions in the United States: the Grants Mineral Belt of New Mexico, the Great Divide Basin of Wyoming and the Uravan Mineral Belt of Colorado. With a rich history of past production and both current and historic uranium mineral resources, PUR has work programs underway to advance its portfolio.
Backed by Sachem Cove Partners, IsoEnergy Ltd., Mega Uranium Ltd., and additional corporate and institutional investors, and an unparalleled team with U.S. uranium experience, PUR’s positioning in the market represents a compelling opportunity, as uranium fundamentals are currently the strongest they have been in more than a decade.
For More Information, Please Contact:
Premier American Uranium Inc.
Colin Healey, CEO
info@premierur.com
Toll-Free: 1-833-223-4673
Twitter: @PremierAUranium
www.premierur.com
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements with respect to, planned exploration activities; anticipated exploration results; whether additional exploration will result in the exploration target will be delineated as a mineral resource; the potential for mineral resource identification at the Cyclone Project; and other activities, events or developments that are expected, anticipated or may occur in the future. 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 statements 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 information and statements are based on our current expectations, beliefs, assumptions, estimates and forecasts about PUR’s business and the industry and markets in which it operates. Such forward-information and statements are based on numerous assumptions, including among others, that the planned exploration activities will be completed as an anticipated and that the results of such exploration activities are as anticipated, that additional exploration will result in the exploration target being delineated as a mineral resource the price of uranium, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by PUR in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of Premier American Uranium to differ materially from any projections of results, performances and achievements of Premier American Uranium expressed or implied by such forward-looking information or statements, including, among others: limited operating history, negative operating cash flow and dependence on third party financing, uncertainty of additional financing, delays or failure to obtain required permits and regulatory approvals, changes in mineral resources, that additional exploration may not result in the exploration target being delineated as a mineral resource, no known mineral reserves, aboriginal title and consultation issues, reliance on key management and other personnel; potential downturns in economic conditions; availability of third party contractors; availability of equipment and supplies; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; changes in laws and regulation, competition, and uninsurable risks and the risk factors with respect to Premier American Uranium set out in PUR’s annual information form for the year ended December 31, 2023 and the other documents of PUR filed with the Canadian securities regulators and available under PUR’s profile on SEDAR+ at www.sedarplus.ca.
Although PUR has attempted to identify important factors that could cause actual actions, events or 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. PUR 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.
1 See Technical Report on the Cyclone Rim Uranium Project, Great Divide Basin Wyoming, USA, with an effective date of June 30, 2023, prepared by BRS Engineering Inc., Douglas L. Beahm. P.E. P.G.
This is not a current estimate of mineral resources or reserves. The potential quantities and grades of the exploration target are conceptual in nature and there has been insufficient exploration to date to define a current mineral resource. Furthermore, it is uncertain if additional exploration will result in the exploration target being delineated as a mineral resource.
As determined by BRS Engineering Inc., sufficient historical exploration data is available for the North and East claim blocks to define an exploration target, which shows a range of 6.5 million short tons averaging 0.06% U3O8 (7.9 million lbs. U3O8) to 10.5 million short tons averaging 0.06% U3O8 (12.6 million lbs. U3O8). The potential quantity and grade of this exploration target is conceptual in nature and based on the geologic interpretation that mineralization is Sandstone Type mineralization, aerial radiometric anomalies, and indications of the presence of oxidation reduction interfaces with mineralization from available drill data. There has been insufficient exploration to define a mineral resource and it is uncertain if a mineral resource will be delineated. For the definition of the exploration target, the following criteria based on direct knowledge and experience in the area and similar sandstone hosted uranium deposits in Wyoming was used: (i) a minimum cut-off grade of 0.02% U3O8 and a grade thickness product (GT) of 0.10, (ii) a radiometric disequilibrium factor of 1, and (iii) a bulk density of 16 cubic feet per ton.
2 Uranium resources summary of 2023 (wyo.gov)
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/90c4d15b-a175-42d5-97e0-c4d361517dc0
https://www.globenewswire.com/NewsRoom/AttachmentNg/b887935b-1542-4068-b1e6-be277b01a081
Ashley Assays Acerson Workings with over 1.2% Uranium at Sahara Property Utah
https://thenewswire.com/press-releases/1A0vFv44D-ashley-assays-acerson-workings-with-over-1-2-uranium-at-sahara-property-utah.html
CALGARY, ALBERTA – TheNewswire - July 18, 2024 - Ashley Gold Corp. (CSE: ASHL) (“Ashley” or the “Company”) is pleased to announce a successful surface sampling program at the Acerson
Baselode Discovers New Zone of Radioactivity Six Kilometres Northeast of ACKIO
Intersected over 30 metres of continuous radioactivity within a massive hydrothermal alteration system
New zone discovered on the second drill hole of Hook's regional exploration program, 6 km from ACKIO discovery
Demonstrates the fertility of the uranium corridor along Baselode's Hook Project
July 17, 2024 6:00 AM EDT | Source: Baselode Energy Corp.
Toronto, Ontario--(Newsfile Corp. - July 17, 2024) - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to announce the discovery of a new uranium prospect on the Hook project ("Hook") in the Athabasca Basin area of northern Saskatchewan (Figure 1).
"We're very excited about this new discovery on Hook, on the second hole of our regional exploration program. HK24-010 intersected over 30 metres of continuous radioactivity at approximately 173 metres vertical depth. This new discovery is hosted within a massive alteration corridor similar in scale to what we have observed at our ACKIO zone 6 km to the southwest. We believe the alteration corridor has mobilized uranium from the host rocks and deposited it within a redox front, similar to what we interpret for HK24-010. We intend to follow-up drilling in this area in the coming weeks after completing exploration drilling in a logistically efficient order on other targets with stronger geophysical anomalisms. Hook's regional exploration aim was to discover new zones of uranium mineralization and we're well on our way with this new prospect," commented James Sykes, CEO, President, and Director of Baselode.
Drill Hole Details
Drill holes HK24-009 and HK24-010 were collared 6 km northeast of ACKIO (see Figure 2). The drill holes targeted a coincident gravity low, magnetic low, and conductive response within the area of an interpreted north-south oriented Tabbernor fault. See Figure 3 for a cross-section interpretation, including a comparison to ACKIO.
HK24-009 intersected 130 m of structurally-controlled massive hydrothermal alteration including alternating hematite and white clay within orthogneiss starting immediately at the top of bedrock. Gamma probe radioactivity averaged 20 counts-per-second ("cps") within the altered rocks, 34 cps and 69 cps within two different fresh rock types, including a small zone of anomalous radioactivity measuring 177 cps over 4.3 m.
HK24-010 intersected over 230 m of structurally-controlled massive hydrothermal alteration similar to HK24-009 (Figures 4 and 5). Gamma probe radioactivity averaged 23 cps within the altered rocks down to 200.8 m, followed by an average of 275 cps over 33.7 m, including 473 cps over 6.8 m, associated with structurally-controlled hydrothermal hematite and minor redox alteration hosted within the basal 2.5 m of metasedimentary rocks and pegmatite for the remainder (Figure 5). The fresh rocks at the end of the drill hole averaged 60 cps.
Drill hole samples have been sent to Saskatchewan Research Council for uranium and multi-element analysis. Results will be released after being received and reviewed by the Company.
NOTES:
cps = "counts-per-second", as measured with a down hole 2GHF triple gamma probe. The reader is cautioned that Baselode uses gamma probe readings as a preliminary indication for the presence of radioactive materials (uranium, thorium and/or potassium), and that gamma probe results may not be used directly to quantify or qualify uranium concentrations of the rock samples measured.
The Company considers all 2GHF triple gamma probe readings greater than 100 cps to be considered anomalous radioactivity, with background radioactivity measuring between 20 to 70 cps.
"Continuous anomalous radioactivity" means drill core length with no greater than 2.0 m of consecutive drill hole length measuring less than 100 cps.
All reported drill hole depths and lengths do not represent true thicknesses which have yet to be determined.
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/6412/216808_f65fd7dfd4b0d90f_007full.jpg
FIGURE 2 - HK24-009 and HK24-010 drill hole location
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/216808_f65fd7dfd4b0d90f_010full.jpg
FIGURE 3 -HK24-009 and HK24-010 with ACKIO Ln 775N cross-sections for scale of altered structural zone
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/216808_f65fd7dfd4b0d90f_011full.jpg
FIGURE 4 -HK24-010 Alteration and Structure 1
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/216808_f65fd7dfd4b0d90f_012full.jpg
FIGURE 5 -HK24-010 Elevated Radioactivity and Oxidation In Metasediments and Pegmatite
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/216808_f65fd7dfd4b0d90f_013full.jpg
SOURCE: Baselode Energy Corp.
Showcase Minerals Enters Agreement to Acquire Quebec Uranium Property Interest
https://www.newsfilecorp.com/release/216771
July 16, 2024 4:09 PM EDT | Source: Showcase Minerals Inc.
Calgary, Alberta--(Newsfile Corp. - July 16, 2024) - Showcase Minerals Inc. (CSE: SHOW) (FSE: ZJ0) ("Showcase" or the "Company") is pleased to announce that it has entered into an option agreement to acquire a 100% interest, subject to a 2% net smelter returns royalty, in the Pontiac Uranium Project located near the town of Fort Coulange in southwestern Québec.
The Pontiac Uranium Project consists of 60 mineral claims in one contiguous block covering approximately 3,461 hectares. The property occurs in the Grenville Province which in this region, is characterized by the presence of highly deformed and magmatized paragneiss, biotite, and/or amphibole bearing schist and occasional carbonate rich horizons that now form marble and calc-silicate skarn. Dark pyroxene bearing amphibolite bands several tens to several hundred meters in thickness are present within the paragneiss units in this region and form an extensive unit southeast of this region. Slightly gneissic gabbro plutons have also been mapped west and south of the Property. Late in its orogenic history, the region was intruded by coarsely granular porphyroid to pegmatitic granite and syenite batholiths, plutons and related pegmatite dikes. Uranium and associated molybdenum and rare metal (niobium,tantalum, halfnium, and rare earths elements) mineralization in the region is related to the emplacement of these granitoid complexes. During late Hadyrain-early Cambrian period, the region was cut by steep west dipping east-west trending normal faults and emplaced by parallel trending diabase dikes up to several hundred meters in thickness. The mineralization on the Project is disseminated and consists of uraninite and thorite. Previous drilling on the property returned 0.57% U3O8 over 1.5 metres. Additional grab samples have 0.11 to 1.00% U3O8 and up to 16.0% thorium dioxide.
Showcase intends to conduct an initial exploration program on the property imminently, which will consist of prospecting, mapping and sampling, and a scintillometer radiometric survey. The purpose of this work is to confirm historical mineralization and other exploration targets, as well as to establish new targets.
Pursuant to the option agreement, Showcase may acquire a 100% interest, subject to a 2% net smelter returns royalty, by making a $25,000 cash payment, issuing 250,000 shares to the optionor, and funding exploration expenditures of $250,000 in stages over two years.
In connection with the agreement, Mr. Kirk Reed, the President and C.E.O. of Showcase, stated, "We are committed to evaluating and acquiring additional mineral property interests that will have a positive impact on shareholder value. Given the uranium market outlook and the growing interest in uranium prospects in Québec, we are excited about the potential of the Pontiac Uranium Project."
Qualified Person:
Afzaal Pirzada, P.Geo., a "Qualified Person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
About Showcase Minerals Inc.
Showcase is a Canadian mineral exploration company with (1) an option to acquire a 100% interest in Dixie Flats-North Star Gold Project and the Woodruff Gold-Vanadium Project (subject to various net smelter returns royalties ranging from 2.25% to 4.25%), which collectively consist of unpatented 254 lode mining claims covering approximately 1,818 hectares located in Elko County, Nevada; and (2) an option to acquire a 100% interest, subject to a 2% net smelter returns royalty, in 60 mineral claims comprising the Pontiac Uranium Project located near the town of Fort Coulange in southwestern Québec.
For further information, please contact:
Kirk Reed, President
Showcase Minerals Inc.
Telephone: 1-800-982-0670
Neither the CSE nor its Market Regulator (as that term is defined in CSE policies) accepts responsibility for the adequacy or accuracy of this news release.
Not for distribution to United States newswire services or for dissemination in the United States.
SOURCE: Showcase Minerals Inc.
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