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Eagle Plains and Xcite Provide Update on Beaver River Uranium Project
https://www.accesswire.com/858743/eagle-plains-and-xcite-provide-update-on-beaver-river-uranium-project
Thursday, 02 May 2024 07:00 AM
CRANBROOK, BC / ACCESSWIRE / May 2, 2024 / Eagle Plains Resources Ltd. (TSXV:EPL) or ("Eagle Plains") and Xcite Resources Inc. (TSXV:XRI) ("XRI or Xcite"), have received the results from a data compilation on the Beaver River uranium project, located 40km SE of Uranium City, Saskatchewan. The Beaver River project hosts near surface high grade uranium mineralization and is one of six Eagle Plains uranium properties under option to Xcite (see EPL/XRI news release Dec 14, 2023). The compilation and interpretation of available data will lead to recommendations for 2024 fieldwork.
Beaver River Data Compilation Highlights
Historical assays up to 29.89% U3O8 in trench chip samples
Historical drill intersections include 0.18% U3O8 over 0.3m and 0.06% U3O8 over 0.61m
Recognized mineralized trend >1km in length
Prospective for polymetallic Beaverlodge-type uranium mineralization in E-W and NW-SE trending fault zones
See Beaver River Compilation Map here
About the Beaver River Project
The 1455ha project overlies 5 Saskatchewan Mineral Deposit Index ("SMDI") occurrences associated with Beaverlodge-type uranium mineralization.
The polymetallic VIC U-Cu-Ni zone (SMDI 1551, 1553, and 1994) occurs along a NW-SE trending fault zone which has been traced for approximately 1 km. Mineralization occurs in fracture filling of quartz veins hosting sulphides, graphite, and pitchblende and uraninite, ore minerals of uranium. Historical assays of channel samples in this zone yield up to 29.89% U3O8 over 0.3m, 18.09% U3O8 over 0.2m and 3.09% U3O8 over 0.6m (AF 74O05-0077). The southeast zone has been tested by nine shallow drill holes, averaging 80m in length, returning assays of 0.18% U3O8 over 0.3m (AF74O05-0016) and 0.06% U3O8 over 0.61m along with anomalous copper, nickel, gold and silver (AF74O05-0051). The northwest portion of the VIC zone, identified as a priority for follow-up by Denison Mines, has yet to be tested by drilling.
Another significant mineral occurrence on the Beaver River property is the Combined Mining Uranium
Showing(SMDI 1557) where northeast-trending pitchblende-bearing fractures have ben mapped over a strike length of 137.2m. Assays from trenches yielded 0.23% U3O8 over 0.5m and 1.77% U3O8 over 0.9m.
Since uranium mineralization on the Beaver River property was first noted in 1958 the property has seen a total of 1708m of diamond drilling in 26 shallow holes, with the last drilling completed in 1969 by Trans-Canada Resources. Other historical work includes prospecting, mapping, scintillometer surveys, trenching at the main showing areas, and airborne and ground-based geophysics.
An electromagnetic and magnetic VTEM survey flown by Geotech for Fission 3.0 in 2016 covered the eastern part of the Beaver River property. The survey outlined numerous areas of enhanced conductivity including areas of parallel conductors with offsets and termination points indicative of cross structure, including a high priority conductive trend located west of the Combined SMDI occurrence. Follow-up prospecting and geochemical sampling was recommended to evaluate the source of the anomalies.
The last recorded assessment work on the project was by Fission 3.0 who successfully located and resampled historic trenches at the VIC occurrence.
Management of Eagle Plains and Xcite are encouraged by the tenor of mineralization displayed in trenches and shallow historical drilling at Beaver River and the potential for additional uranium mineralization both along strike and to depth within known mineralized areas, along trends identified by historical geophysical surveys, and on any additional targets generated by 2024 work.
Rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property. The above results were taken directly from the SMDI descriptions and assessment reports) filed with the Saskatchewan government. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person, but form a basis for ongoing work on the subject properties. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties.
About the Beaverlodge Uranium District
See Uranium City Area Projects Map here
The Beaver River, Black Bay, Don Lake, Gulch, Larado, and Smitty projects are located in the Beaverlodge District near Uranium City in the Lake Athabasca region of Saskatchewan. Occurrences of uranium mineralization are abundant in the Uranium City area and have been explored and documented since the 1940s. The Beaverlodge camp was the first uranium producer in Canada, with historic production of approximately 70.25 million pounds of U3O8 between 1950-1982, from ore grades averaging 0.23% U3O8. The two largest producers were the Eldorado Beaverlodge (Ace-Fay-Verna) mine and the Gunnar uranium mine. The Beaverlodge area has seen limited uranium focused exploration since the early 1990's.
Eagle Plains' management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties.
Beaverlodge-style uranium deposits host structurally controlled, high grade mineralization in veins and breccia-fills within basement rocks. Mineralization often occurs at geological contacts and consists of structures filled with hematite, chlorite and graphite associated with pitchblende.
Uranium City Option Agreement
Under the terms of the agreements, Xcite may earn an 80% interest in each of the Beaver River, Black Bay, Don Lake, Gulch, Larado, and Smitty projects by completing CDN$3,200,000 in exploration expenditures, issuing 750,000 common shares of Xcite and making cash payments to Eagle Plains of CDN$55,000 over four years, for an aggregate of CDN$19,200,000 in exploration expenditures, 4,500,000 shares and $330,000 in cash to Eagle Plains. Upon Xcite fulfilling the terms of any or all of the earn-in agreements, an 80/20 joint venture will be formed, with Eagle Plains retaining a carried interest in all expenditures until delivery by Xcite or its assigns of a bankable feasibility study. During the option earn in period, XRI will be appointed as operator, and EPL will manage the exploration programs under the direction of a joint technical committee. The projects are owned 100% by EPL, who will retain an underlying 2% NSR royalty on the each of the properties.
Eagle Plains currently holds a 100% interest in 18 individual projects comprising a total of 40,050 ha of mineral dispositions in Saskatchewan covering both basement and unconformity hosted uranium targets. The projects range from early-stage grassroots to drill ready and are distributed throughout the prospective Athabasca Basin including the Patterson Lake South (PLS), Beaverlodge, and Dufferin-Centennial camps.
See Saskatchewan Uranium Projects Map here
Qualified Person
Technical information in this News Release has been reviewed and approved by C.C. Downie, P.Geo., a director and officer of Eagle Plains, hereby identified as the "Qualified Person" under N.I. 43-101.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains is a well-funded, prolific project generator that continues to conduct research, acquire and explore mineral projects throughout western Canada, with a focus on critical metals integral to an increasingly electrified, decarbonized economy.
The Company was formed in 1992 and is the ninth-oldest listed issuer on the TSX-V (and one of only three that has not seen a roll-back or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and through numerous spin outs has transferred over $100,000,000 in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold Corp. being notable examples. Eagle Plains latest spinout; Eagle Royalties Ltd. (CSE:"ER") was listed on May 24, 2023, and holds a diverse portfolio of royalty assets throughout western Canada.
Eagle Plains' core business is acquiring grassroots critical- and precious-metal exploration properties. The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team.
Expenditures from 2010-2023 on Eagle Plains-related projects exceed $38M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 50,000m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.
Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.
On behalf of the Board of Directors of Eagle Plains
"C.C. (Chuck) Downie, P.Geo"
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at https://www.eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE: Eagle Plains Resources Ltd.
Bayridge Engages TerraLogic for 2024 Exploration Program at Athabasca Basin Properties
https://www.newsfilecorp.com/release/207349
April 30, 2024 6:00 AM EDT | Source: Bayridge Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 30, 2024) - Bayridge Resources Corp. (CSE: BYRG) ("Bayridge" or the "Company"), an emerging uranium and lithium exploration company, is pleased to announce the Company has engaged TerraLogic Exploration Inc. ("TerraLogic"), of Cranbrook, BC, to facilitate the 2024 exploration and development work programs on the Company's Waterbury East and Constellation uranium projects in Saskatchewan's prolific Athabasca Basin.
The 1,337 ha Waterbury East project is located 25 km northeast of the Cigar Lake Mine in the northeastern Athabasca Basin region. Geophysical surveys have identified a 7km long conductivity corridor where mid-2000s drilling highlighted faulted and altered basement rock with local uranium enrichment. Large sections of this corridor remain untested.
The 11,142 ha Constellation project is located 60 km south of the present-day Athabasca Basin edge in an area of significant exploration activity for basement hosted uranium. Historic airborne radiometric, electromagnetic, and magnetic surveys identified electromagnetic conductors associated with magnetic lows.
"We are excited to partner with TerraLogic for our upcoming 2024 work programs at Waterbury East and Constellation," commented Bayridge CEO Saf Dhillon. "TerraLogic has already submitted our drilling permit for Waterbury East and is currently soliciting bids for upcoming VTEM surveys at both projects," he continued. "TerraLogic has proven technical expertise and a long track record of First Nations engagement, critical to exploration in the Athabasca Basin," he concluded.
R. Tim Henneberry, P.Geo. (BC) and a consultant to the Company, is the Qualified Person under National Instrument 43-101 who has reviewed and approved the technical content of this release.
About TerraLogic Exploration Inc.
TerraLogic Exploration Inc. is a dynamic and innovative company that provides a full spectrum of mineral exploration consulting services to the mineral exploration industry ranging from permitting through to surveying / prospecting, drilling and resource modelling. TerraLogic has been operating mineral exploration projects in North America since 2004. Since then, TerraLogic has successfully managed hundreds of exploration programs including numerous uranium focused projects in the Athabasca Basin.
About Bayridge Resources Corp.
Bayridge Resources Corp. is a mining exploration company that currently operates the Sharpe Lake property, a lithium exploration project in Ontario. The Company also has an interest in two uranium exploration projects located in the Athabasca Basin in Saskatchewan, which were optioned from Canalaska Uranium Corp.
For more information, please contact:
Saf Dhillon, Director, Chief Executive Officer and President
E-mail: saf@bayridgeresources.com
Tel: 604-484-3031
Forward-looking information
All statements included in this press release that address activities, events or developments that Bayridge expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements may involve, but are not limited to, statements with respect to: the Company's exploration plans for 2024 and the Company's engagement of TerraLogic. These forward-looking statements involve numerous assumptions made by Bayridge based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond Bayridge's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, Bayridge does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
The CSE has not reviewed, approved, or disapproved the contents of this press release.
SOURCE: Bayridge Resources Corp.
Basin Uranium Announces Permitting for Drill Program at Chord
https://www.newsfilecorp.com/release/207315
April 30, 2024 3:02 AM EDT | Source: Basin Uranium
Vancouver, British Columbia--(Newsfile Corp. - April 30, 2024) - BASIN URANIUM CORP. (CSE: NCLR) (CNSX: NCLR.CN) ("Basin Uranium" or the "Company") is pleased to provide an update on permitting for the Company's flagship Chord uranium project in South Dakota. A permit application was submitted in March, which would allow for the drilling of up to 50 holes totaling up to 35,000 feet. The drill program will focus on delineating the southern extension of known mineralization from the October Jinx mineralized body within the recently-acquired 640 acre state section (Section 36-7S-2E) which was announced on November 22, 2023 (news release). The Company and its consultants are in active dialogue with the South Dakota Department of Agriculture and Natural Resources, stakeholders and partners.
"We designed the upcoming drill program and corresponding permit application to focus on the delineation of potentially ore grade mineralization, of the October Jinx mineralized zone to the south, where modelling by our consultants demonstrate the constraint due to the historical property boundary," commented Mike Blady, CEO of Basin Uranium. "The resource modelling exercise, which we anticipate the results of in the coming weeks, has highlighted the potential for significant expansion of potentially ISR-amendable uranium mineralization."
About Basin Uranium Corp.
Basin Uranium is a Canadian junior exploration company focused on mineral exploration and development in the green energy sector. The company has three advanced-stage uranium projects located in the United States, namely the Chord project in South Dakota, the South Pass project in Wyoming, and the Wray Mesa project in Utah. All three projects have seen extensive historical exploration and are located in prospective development areas. The Company also has the Mann Lake uranium project, located in the world-class Athabasca basin of Northern Saskatchewan, Canada, in addition to the CHG gold project in south-central British Columbia.
For further information, please contact Mr. Mike Blady or view the Company's filings at www.sedarplus.ca.
On Behalf of the Board of Directors
Mike Blady
Chief Executive Officer
info@basinuranium.ca
604-722-9842
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.
FORWARD-LOOKING STATEMENTS:
Cautionary Note Regarding Forward-Looking Statements: This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary include, without limitation, uncertainties affecting the expected use of proceeds. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
SOURCE: Basin Uranium
Atomic Minerals Announces Advancement on the Colorado Plateau Projects in the Southwest US
https://www.newsfilecorp.com/release/207323
April 30, 2024 7:30 AM EDT | Source: Atomic Minerals Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 30, 2024) - Atomic Minerals Corporation (TSXV: ATOM) ("ATOMIC MINERALS" or the "Company") is delighted to announce significant progress on its strategic claim blocks located on the Colorado Plateau in the US Southwest, specifically at ("Harts Point"), (the "10 Mile Anticline"), and (the "Dolores Anticline"). This update highlights the Company's ongoing commitment to advancing its exploration efforts in these highly prospective salt anticlines.
"We are thrilled to update shareholders on our exploration plans and proud of the significant progress we've made on our claim blocks on the Colorado Plateau, including Harts Point, 10 Mile, and Dolores Anticline," stated Clive Massey, President, and CEO of Atomic Minerals. "Our comprehensive review and analysis of historic uranium mining and oil and gas drilling data have been instrumental in refining our exploration strategy. The historical drill data, particularly from the Chinle Formation basal sandstones, underscores the robust potential for uranium mineralization across these properties. With this promising foundation, we are advancing our drilling plans as we initiate the permitting process. Our focus now turns to utilizing our technical expertise, forged through decades of geological insights, to qualify and quantify the uranium mineralization at Dolores, 10 Mile and Harts Point."
Harts Point
Atomic Minerals, alongside Joint Venture Partner Kraken Energy Corp., successfully completed a maiden two-hole drill program at the Harts Point Uranium Property in Utah, as detailed in the (March 26, 2024) news release. Kraken's technical team reported the drilling proved the existence of the basal Moss Back member sandstone of the Triassic Chinle formation with gamma ray logs recording elevated gamma ray counts over a 12.9 metre downhole length in one hole and over a 16.2 metre down hole length in the other, recording a maximum reading of was 2,162 counts per second. Results are pending, and the Company anticipates obtaining permits soon for further exploration at Harts Point.
Dolores Anticline
Atomic Minerals has completed a thorough review of the Colorado Oil and Gas drill hole database, compiling the holes drilled along the flanks of the Dolores Anticline. The Company is now laying out drill hole locations, guided by the oil and gas drilling to allow commencement of the permitting process for summer drilling.
The Dolores claim group (SC claims) lies in San Miguel County, Colorado on the northern end of the Dolores Anticline and proximal to the southern end of the Uravan Mineral Belt ("Uravan"). The Uravan (a contraction of Uranium-Vanadium) Mineral Belt produced 75.5 million pounds of uranium oxide and 331.8 million pounds of vanadium from the Salt Wash Member of the Jurassic Morrison Formation during the years between 1947 and 1979 from more than 1,200 mines.* While these mining claims are located on the southern end of the Uravan, they were located in an area considered to be very favorable for the concentration of uranium mineralization in the Moss Back Member of the Triassic Age Chinle Formation and the Permian Cutler Formation as well as the Salt Wash Member of the Morrison Formation. Atomic Minerals' geological consultants have confirmed the presence of uranium mineralization in several prospects in the Dolores River Canyon, where the favorable Moss Back Member has been exposed and appears to have a wide extent, which guided the location of the SC claim block.
*Source Chenoweth, W.L. (1981). The Uranium-Vanadium Deposits of the Uravan Mineral Belt and Adjacent Areas, Colorado and Utah. New Mexico Geological Society Guidebook, 32nd Field Conference. pp. 165-170.
In the late 1970s, widely spaced exploration drilling for uranium by the Hunt Oil Company and Newmont Mining Company confirmed the presence of the highly favorable Moss Back Member of the Chinle Formation on this anticlinal structure. Gamma ray logs of a number of these holes reported spikes within the Moss Back.
10 Mile Anticline
Atomic Minerals has completed a thorough review of the Utah Oil and Gas drill hole database, compiling the holes drilled along the flanks of the 10 Mile Anticline. The Company is now laying out drill hole locations, guided by the historic oil and gas drilling to allow commencement of the permitting process for summer drilling.
The 10 Mile property consists of four separate claim blocks totaling 10,400 acres, lying 25 miles northwest of Moab, in Grand County, Utah. The claim blocks cover the eastern and western flanks and southern nose of the Ten Mile Anticline. Several of the historic oil and gas holes throughout the area recorded gamma ray spikes at the base of the Chinle formation, which the Company believes are indicative of uranium mineralization. This oil and gas drilling indicates the depth to Moss Back is 1,400 feet on the southwestern flank and 2,390 to 2,500 on the northeast flank. Further supporting the uranium potential of the 10 Mile property is the 7 Mile district, located 8 miles to the southeast. Seven Mile is located on the northwestern flank of northern nose of the Moab Anticline and produced over 1,700,000 pounds of U3O8 and 890,000 pounds of vanadium from thicknesses ranging from 1 foot and 8 feet at an average grade of 0.26% U3O8 from the basal Moss Back Member of the Chinle Formation.
Source: Seven Mile Canyon Mining District, Grand County, Utah, USA. https://www.mindat.org/loc-203792.html. This description referenced Droullard, R.F., and Jones, E.E. (1955) Geology of the Seven Mile Canyon uranium deposits. U.S. Atomic Energy Commission Rare Metals Evaluation RME-4066, 14 pages.
The data disclosed in this news release are related to historical exploration and drilling results. Atomic Minerals has not undertaken any independent investigation of the sampling, nor has it independently analyzed the results of the historical exploration work in order to verify the results. Atomic Minerals considers these historical exploration and drill results relevant as the Company is using these data as a guide to plan exploration programs. The Company's current and future exploration work includes verification of the historical data through sampling and drilling.
Qualified Person
Mr. R. Tim Henneberry, P.Geo. (BC), an advisor to the Company, is the "Qualified Person" under National Instrument 43-101 responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.
About the Company
Atomic Minerals Corp. is a publicly listed exploration company on the TSX Venture Exchange, trading under the symbol ATOM, led by a highly skilled management and technical team with a proven track record in the junior mining sector. Atomic Minerals' objective is to identify exploration opportunities in regions that have been previously overlooked but are geologically similar to those with previous uranium discoveries. These underexplored areas hold immense potential and are in stable geopolitical and economic environments.
Atomic Minerals' property portfolio contains uranium projects in three locations within North America, all of which have significant technical merit and or are known for hosting uranium production in the past. Three of the properties are located on the Colorado Plateau, an area which has previously produced 597 million pounds of U3O8; Three others are in the prolific Athabasca Basin region and nine uranium projects are located Northern Saskatchewan, encompassing a total exploration area of 6,495 hectares.
For additional information about the Company and its projects, please visit our website at www.atomicminerals.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
"Clive Massey"
Clive H. Massey
President & CEO
For further information, please contact:
Mitchell Adam
(778) 960-0869
Neither TSX Venture Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements:
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Atomic Minerals Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Atomic Minerals Corporation management on the date the statements are made. Except as required by law, Atomic Minerals Corporation undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
###
SOURCE: Atomic Minerals Corp.
C2C Metals Stakes Uranium Claims in the Prolific Uravan District, Utah
https://www.newswire.ca/news-releases/c2c-metals-stakes-uranium-claims-in-the-prolific-uravan-district-utah-827179680.html
C2C Metals Corp. Apr 30, 2024, 07:00 ET
CSE: CTOC
www.c2cmetals.com
VANCOUVER, BC, April 30, 2024 /CNW/ - C2C Metals Corp. (CSE: CTOC) (the "Company" or "C2C") today reports the acquisition, through staking, of the Sun Uranium Project located in easternmost Utah between the prolific Uravan, Lisbon Valley and La Sal Uranium Districts. The Sun Uranium Project was identified through research of proprietary mineral databases. The Company also advises that Jason Bagg, Chief Executive Officer, will present on Tuesday April 30th, 2024 at the Uranium, Battery and Precious Metals Investor Conference | Virtual Investor Conferences.
Significant highlights include:
The Sun Uranium Property consists of 120 claims, covering almost 4 square miles, located approximately 40 miles southeast of Moab, Utah;
1950's exploration at the Sun Uranium Project included 23 drill holes by New Jersey Zinc with good grade uranium and vanadium mineralization from the Salt Wash sandstone, the host of most uranium production from the La Sal and Uravan Districts;
Historical shallow drilling was conducted adjacent to mineralized outcrops that extend below surface. Planned exploration will focus upon uranium exploration in the Salt Wash sandstone, along trend, from the successful previous drilling;
The combined Uravan District of western Colorado, the Lisbon Valley and La Sal Districts of eastern Utah, produced more than 150+ million pounds of uranium plus hundreds of millions of pounds of vanadium;
Utah is an Agreement State, which provides state-controlled permitting as devolved from the Nuclear Regulatory Commission resulting in expected shorter permitting timelines.
To view maps of the Sun Uranium Project, please visit: https://bit.ly/3UiVuxQ.
The Sun Uranium Project
The uranium-vanadium mineralization at the Sun Uranium Project is hosted in the Salt Wash Sandstone as originally discovered in outcrops along the erosional edge of a mesa. These Salt Wash deposits differ from both the roll-type uranium deposits of Wyoming and the tabular-type deposits of New Mexico because of the universal association of vanadium with the uranium.
A small part of the area covered by the Sun Uranium Project has seen historical drilling and sampling, as recorded in a written report by the New Jersey Zinc Company1, together with other historical supporting information. Historic drilling in 1954, of 23 holes less than 100 feet in depth, from a very small area near the outcrop included 10 "definite ore" grade uranium intercepts ranging from 0.15% U3O8 to 1.50% U3O8. An early non-compliant historical resource estimate made using data from the 23 drill holes was 32,100 lbs. U3O8, at an average grade of 0.20% U3O8.*
1 Westcoat, George J., Consultant, 1954, "Memorandum report on 104 Sinder and Sunset mineral claims, Grease Wood Canyon District, San Juan County, Utah".
Other historical exploration included a 243 lb. open cut bulk sample that assayed 0.44% U3O8 and 1.08% V2O5. A 2.5 ft long channel sample was collected from a short adit near the open cut and provided average weighted chemical values of 0.62 % U3O8 and 1.25% V2O5, as assayed by Climax Uranium Company, a major historical uranium producer.
George Westcoat, a consultant to New Jersey Zinc, reported: "Mineral outcrops were observed at several places along the rims of the Morrison Formation." The consultant further recommended: "From the small amount of exploration done thus far, that a much more extensive exploration program be instituted." His recommendations included further drilling to a depth of at least 200 ft.
In addition to historic drilling and sampling, seven radiometric anomalies were later identified within the area of the Sun Uranium Project in an airborne radiometric survey flown by the U.S. Atomic Energy Agency.
*A Qualified Person (as defined in NI 43-101) has not done sufficient work to verify the historical drilling data. Additional work, including drilling and logging will be required to confirm and update the historical drilling and logging data, including a review of data integrity, assumptions, parameters, methods, and testing. Historical exploration data do not meet reporting requirements as prescribed under NI 43-101. C2C is not treating the historical data as current and it should not be relied upon.
The technical content concerning the Property in this news release was reviewed and approved by Dr. Douglas H. Underhill, CPG, Chief Geologist for C2C Metals Corp., a Qualified Person as defined by National Instrument 43-101.
A bout C2C Metals Corp.
C2C Metals is a mineral exploration company which holds a portfolio of uranium, gold and copper projects in the United States and Canada. C2C Metals is focused on acquiring conventional uranium assets in the United States while maintaining a portfolio of advanced gold and copper assets in Canada.
www.c2cmetals.com
@C2CMetalsCorp
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties and can be identified by the use of forward-looking terminology such as "expected", "will be", "anticipated", "may" or variations of such words and phrases or statements that certain actions, events or results "will" occur. All statements within, other than statements of historical fact, are to be considered forward looking. Forward-looking statements in this news release include but are not limited to: the completion of the name change. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
SOURCE C2C Metals Corp.
For further information: Jason Bagg, Chief Executive Officer, (833) 888-2862, info@c2cmetals.com
ALX Resources Announces Hydra Lithium Project Exploration Update
https://www.newsfilecorp.com/release/207360
April 30, 2024 7:30 AM EDT | Source: ALX Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 30, 2024) - ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce that planning is underway for 2024 summer exploration at the Hydra Lithium Project ("Hydra") located in the Eeyou Istchee-James Bay region of Quebec, Canada. Hydra is the subject of a joint venture between ALX and Forrestania Resources Limited of West Perth, Australia ("Forrestania", ASX: FRS) formed to explore for lithium-cesium-tantalum ("LCT") bearing pegmatites, with ALX as operator.
2024 Hydra Exploration Plans
ALX plans to commence the 2024 prospecting and geological mapping program (the "Program") on or about June 1, 2024, with a helicopter and a 4-person geological crew supplied by Dahrouge Geological Consulting of Montreal, Quebec. The Program is designed to locate pegmatite bodies in the field as follow-up to ALX's 2023 exploration activities at Hydra, which included:
Helicopter-assisted surface prospecting and geological mapping at seven of the eight properties comprising Hydra;
An Airborne Light Detection And Ranging ("LiDAR") and orthophoto survey at the Volta property covering approximately 47.5 square kilometres to aid in the identification of outcrops that may represent pegmatite bodies;
Remote sensing analysis performed on the Volta, Nike, Echo and Sprite properties utilizing synthetic aperture radar ("SAR") data, multispectral Sentinel satellite data and Advanced Spaceborne Thermal Emission and Reflection (or, "ASTER") data in order to interpret geological structures and to recognize subtle lithium anomalies in outcrop.
Figure 1: ALX - Forrestania lithium properties in the James Bay Region, April 2024
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3046/207360_bc8564fb1468a8c8_001full.jpg
In late 2023, ALX employed modern remote sensing techniques using multispectral imaging and SAR data to analyze vegetation, structure, alteration, and ground movement at the Volta, Nike, Sprite and Echo properties. This multivariate approach, combining existing geological, geochemical, and geophysical data with multiple satellite analyses, allows complex anomalies covering large areas to be quickly and effectively identified, thus recognizing new targets. Figure 2 depicts the first-priority targets at Echo generated by this process.
Figure 2: 2024 Exploration Target Areas at the Echo Property
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3046/207360_bc8564fb1468a8c8_002full.jpg
2023 Exploration Statistics and Results
A total of 106 rock samples were collected by ALX in three phases during 2023, work that was suspended by forest fires and by pauses in exploration to respect the hunting seasons of the local communities of the Cree Nation. All geochemical analytical results are described in parts per million ("ppm").
2023 Pegmatite sample from Python West - 273 ppm Lithium/ 575 ppm Cesium/ 865 ppm Rubidium
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3046/207360_bc8564fb1468a8c8_003full.jpg
Python West: 30 samples collected. Sample #F435054 taken from a pegmatite boulder returned 278 ppm Lithium, 575 ppm Cesium and 865 ppm Rubidium. Positive geochemical ratios were calculated and are interpreted as pathfinders for LCT pegmatites: K/Rb (17.1), K/Cs (26) and Nb/Ta (2.1);
Python East: 15 samples collected. Sample #F435156 taken from a pegmatite boulder returned 387 ppm Lithium, 24.5 ppm Cesium and 326 ppm Rubidium;
Sprite: 27 samples collected. Two samples collected from granitic and paragneiss outcrops samples returned Lithium and Rubidium values over 100 ppm;
Volta: 21 samples collected. Biotite crystals were described in one outcrop sample that also showed orange luminescence under ultraviolet light that may suggest a fertile environment for LCT pegmatites. Follow-up in 2024 is planned.
Echo: 1 sample collected. Prospecting in 2023 was impeded by fires, weather conditions and schedule constraints. Follow-up on first-priority targets detected by remote sensing is planned for 2024.
Cobra: 10 samples collected. Follow-up on second-priority targets is planned for 2024.
Nike: 2 samples were collected. Follow-up on second-priority targets is planned for 2024.
Viper: No samples were collected. Airborne reconnaissance was carried out. Follow-up on second priority targets is planned for 2024.
About Hydra
Hydra consists of eight sub-projects totaling 29,262 hectares (ha.) (72,306 acres) known as Volta (4,751 ha.), Echo (5,566 ha.), Nike (2,462 ha.), Sprite (3,437 ha.), Cobra (4,249 ha.), Viper (1,280 ha.), Python East (3,218 ha.) and Python West (4,298 ha.), located within a fertile lithium exploration district that hosts the James Bay, Rose, Whabouchi and Corvette lithium deposits, and numerous other lithium showings.
The eight Hydra properties were originally selected for staking based upon the presence of historical lithium, cesium and tantalum lake sediment anomalies and by a review of public-domain geological mapping and archived assessment reports. The application of remote sensing and artificial intelligence studies for pegmatite detection has assisted in prioritizing targets for surface prospecting.
To view maps and more information on Hydra, visit our website at: https://alxresources.com/hydra-lithium/
National Instrument 43-101 Disclosure
Samples collected in the 2023 exploration program were shipped to AGAT Laboratories ("AGAT") for geochemical analysis. AGAT dried, crushed and pulverized the rock samples to create a pulp whereby at least 85% of the material passed a 75 micron screen. The pulp was fused with sodium peroxide and sodium hydroxide to produce a cake that was then dissolved and diluted to 100 ml with 30% hydrochloric acid to create an aliquot. The aliquot was then analyzed for a 58-element suite of trace and rare earth elements utilizing inductively coupled optical emission spectroscopy ("ICP-OES") with an inductively coupled mass spectroscopy ("ICP-MS") finish. A subset of the rock samples were submitted for whole rock oxide and loss on ignition ("LOI") analyses (14 oxides plus LOI). The whole rock oxides analyses were completed utilizing wave dispersive X-ray fluorescence (or "XRF") spectroscopy on a glass disc created by a lithium borate fusion method. Another subset of samples were submitted for gold and other trace elements analyses (53 elements). A 0.5 gram sample was digested with a hot mixture of hydrochloric and nitric acids, and a residue from this digestion underwent Aqua Regia digestion and dilution for analyses by ICP-OES with an ICP-MS finish. AGAT routinely inserts certified reference materials, and conducts sample replicates and duplicate analyses, as part of their quality assurance program.
The technical information in this news release has been reviewed and approved by Robert Campbell, P.Geo., a consultant to ALX, who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Readers are cautioned that mineral deposits or occurrences on adjacent or nearby properties are not indicative of mineral deposits or occurrences on the Company's properties.
About ALX
ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL", on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF".
ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties in Canada, which include uranium, lithium, nickel-copper-cobalt and gold projects. The Company uses the latest exploration technologies and holds interests in over 240,000 hectares of prospective lands in Saskatchewan, a stable jurisdiction that hosts the highest-grade uranium mines in the world, a producing gold mine, diamond deposits, and historical production from base metals mines.
ALX's uranium holdings in northern Saskatchewan include 100% interests in the Gibbons Creek Uranium Project (now the subject of an option earn-in agreement with Trinex Minerals Limited), the Sabre Uranium Project, the Bradley Uranium Project, and the Javelin and McKenzie Lake Uranium Projects, a 40% interest in the Black Lake Uranium Project (a joint venture with Uranium Energy Corporation and Orano Canada Inc.), and a 20% interest in the Hook-Carter Uranium Project, located within the uranium-rich Patterson Lake Corridor with Denison Mines Corp. (80% interest) as operator of exploration since 2016.
ALX also owns 100% interests in the Firebird Nickel Project, the Flying Vee Nickel/Gold and Sceptre Gold projects, and can earn up to an 80% interest in the Alligator Lake Gold Project, all located in northern Saskatchewan, Canada. ALX owns, or can earn, up to 100% interests in the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, and in the Vixen Gold Project (now under option to First Mining Gold Corp., who can earn up to a 100% interest in two stages).
ALX owns a 50% interest in eight lithium exploration properties staked in 2022-2023 collectively known as the Hydra Lithium Project, located in the James Bay region of northern Quebec, Canada, a 100% interest in the Anchor Lithium Project in Nova Scotia, Canada, and 100% interests in the Crystal Lithium Project and the Reindeer Lithium Project, both located in northern Saskatchewan, Canada.
For more information about the Company, please visit the ALX corporate website at www.alxresources.com or contact Roger Leschuk, Manager, Corporate Communications at: PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: rleschuk@alxresources.com
On Behalf of the Board of Directors of ALX Resources Corp.
"Warren Stanyer"
Warren Stanyer, CEO and Chairman
FORWARD-LOOKING STATEMENTS
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include: ALX's interpretation of the 2023 exploration results and 2024 joint venture exploration plans at the Hydra Lithium Project, and ALX's ability to continue to expend funds at that project. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that ALX may not be able to fully finance exploration on our exploration projects, including drilling; our initial findings at our exploration projects may prove to be unworthy of further expenditures; commodity prices may not support further exploration expenditures; exploration programs may be delayed or changed due to any delays experienced in consultation and engagement activities with First Nations communities and local landowners in the region, and the results of such consultations; and economic, competitive, governmental, societal, public health, weather, environmental and technological factors may affect the Company's operations, markets, products and share price. Even if we explore and develop our projects, and even if lithium, uranium, nickel, copper, gold or other metals or minerals are discovered in quantity, ALX's projects may not be commercially viable. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Year Ended December 31, 2023, which is available under the Company's SEDAR profile at www.sedarplus.ca. Except as required by law, we will not update these forward-looking statement risk factors.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
SOURCE: ALX Resources Corp.
ATHA Energy Completes Angilak Project Equipment and Supply Mobilization, Update on Commencement of Diamond Drilling
https://ca.finance.yahoo.com/news/atha-energy-completes-angilak-project-110000844.html
ATHA Energy Corp.
Tue, April 30, 2024 at 4:00 a.m. PDT·11 min read
SASKF
+3.17%
HIGHLIGHTS:
The Company has completed its equipment and supply mobilization to its 100%-owned Angilak Project in Nunavut, Canada.
Mobilization included the delivery of two X10 Diamond Drills (Tactex Industries Ltd.), which are anticipated to nearly double daily meterage production compared to previous drilling campaigns conducted on the Angilak Project.
The mobilization was completed in support of the 2024 Exploration Program at the Angilak Project, scheduled to commence Phase I (Diamond Drilling) in early June 2024.
ATHA has signed a service agreement with Base Diamond Drilling to execute Phase I (Diamond Drilling) at the Angilak Project. Base Drilling operators have extensive experience operating in Canada’s northern regions, as well as many of the Athabasca Basin’s largest and highest-grade uranium deposits.
Angilak Project: The Angilak Project is host to the Lac 50 Uranium Deposit, which is one of the largest high-grade deposits outside of the Athabasca Basin, with a historical mineral resource estimate of 43.3MM lbs at an average grade of 0.69% U3O8.1
Angilak Project 2024 Exploration Programs: build upon the work previously completed by Latitude Uranium (acquired by ATHA):
Phase I (diamond drilling): A ~10,000 m diamond drilling program is planned to begin June 2024, targeting expansion of the Lac 50 Deposit, which remains open in all directions. Exploration drilling is also expected to test high-priority targets on parallel structures to Lac 50 that were previously identified as being prospective to host uranium mineralization.
Phase II (geophysics & ground geochemistry): In concert with the Phase I diamond drilling program, ATHA will also undertake a targeted airborne geophysics program comprised of electromagnetic (“EM”), Mag, and VLF survey types in addition to targeted ground geochemistry sampling and mapping. The objective of Phase II is to identify and derisk a pipeline of additional high-priority targets for future exploration programs.
Angilak Recent Activity: Latitude Uranium (acquired by ATHA) recently completed (September 2023) a diamond drill-based exploration program comprising total a total of 18 holes (5,665 m). The 2023 Program focused on delineation and expansion of the Main Zone within the Lac 50 Deposit, and successfully achieved all objectives:
Extension of known mineralization along strike and at depth within the Main Tuff Horizon, demonstrated by drill hole 23-LC-005 – designed to infill a 100 m gap in historic drilling – intersected grades of up to 7.54 % U3O8 over 1.6 m and represents continuity of high-grade mineralization at depth.
Discovery of a new lense of uranium mineralization within the Lac 50 Deposit
Increased understanding of structural controls on uranium mineralization, and identification of similar settings at regional prospective targets
VANCOUVER, British Columbia, April 30, 2024 (GLOBE NEWSWIRE) -- ATHA Energy Corp. (TSX.V: SASK) (FRA: X5U) (OTCQB: SASKF) (“ATHA” or the “Company”), holder of the largest uranium exploration portfolio in two of the highest-grade uranium districts in the world, is pleased to announce that the Company has completed its equipment and supply mobilization to its 100%-owned Angilak Project in Nunavut.
The mobilization is in support of the 2024 Exploration Program at the Angilak Project, which is anticipated to begin in early June with Phase I diamond drilling and includes an annual fuel supply, drilling, and logging materials, two centrifuges, and most significantly – two state-of-the-art X10 diamond drills. The X10 diamond drill, manufactured by Tactex Industries, from Parksville, BC, is the most versatile and efficient diamond drill available for helicopter supported exploration programs. The two new X10’s are anticipated to nearly double daily meterage production compared to previous drilling on the Angilak Project, significantly decreasing exploration costs.
The Company is also pleased to announce it has signed a service agreement with Base Diamond Drilling Ltd. (“Base”) from Smithers BC to execute Phase I diamond drilling of ATHA’s previously announced 2024 Exploration Program at the Angilak Project. Base has extensive experience working throughout the northern regions of Canada. In the Athabasca Basin in Saskatchewan, Base drillers have successfully and efficiently executed diamond drill programs on the largest and highest-grade uranium deposits in the world, such as Cameco’s Cigar Lake, McArthur River, and NexGen’s Rook I.
ANGILAK PROJECT – NUNAVUT
Angilak Project, situated within the Angikuni Basin approximately 225 km southwest of Baker Lake in the Kivalliq Region of Nunavut (Figure 1). The Angilak Project is host to the Lac 50 Uranium Deposit, which has a historical mineral resource estimate of 43.3MM lbs at an average grade of 0.69% U3O8.1
The 2024 Angilak exploration program will consist of diamond drilling, airborne geophysical surveys, and surficial sampling and mapping programs, prioritized to expand the footprint of known uranium mineralization, while also advancing regional exploration targets. Approximately 10,000 m of diamond drilling is planned to be completed during the June to August time frame. Drill targeting will focus on the Lac 50 Deposit and mineralized corridor, targeting expansion of the deposit footprint both along strike and down-dip, as well as testing parallel structures which may host uranium mineralization. Diamond drilling will also test additional regional targets that have been identified through past exploration campaigns – the most recent of which was completed in 2023 by Latitude Uranium (“Latitude”) (acquired by ATHA). During Latitude’s most recent exploration program completed in the fall of 2023, the company reported uranium drill hole intersections with grades of up to 7.54 % U3O8 over 1.6 m from hole 23-LC-005, which targeted the Lac 50 Deposit.
Figure 1
Figure 1: Plan Map detailing the Angilak Project location within Nunavut1
Qualified Person
The scientific and technical information contained in this news release have been reviewed and approved by Cliff Revering, P.Eng., the Vice President, Exploration of ATHA, who is a "qualified person" as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About ATHA
ATHA is a Canadian mineral company engaged in the acquisition, exploration, and development of uranium assets in the pursuit of a clean energy future. With a strategically balanced portfolio including three 100%-owned post discovery uranium projects (the Angilak Project located in Nunavut, and CMB Discoveries in Labrador hosting historical resource estimates of 43.3 million lbs and 14.5 million lbs U3O8 respectively, and the newly discovered basement hosted GMZ high-grade uranium discovery located in the Athabasca Basin). In addition, the Company holds the largest cumulative prospective exploration land package (8.1 million acres) in two of the world’s most prominent basins for uranium discoveries - ATHA is well positioned to drive value. ATHA also holds a 10% carried interest in key Athabasca Basin exploration projects operated by NexGen Energy Ltd. and IsoEnergy Ltd. For more information visit www.athaenergy.com. 1,2,3
For more information, please contact:
Troy Boisjoli
Chief Executive Officer
Email: info@athaenergy.com
www.athaenergy.com
Historical Mineral Resource Estimates
All mineral resources estimates presented in this news release are considered to be “historical estimates” as defined under NI 43-101, and have been derived from the following (See notes below). In each instance, the historical estimate is reported using the categories of mineral resources and mineral reserves as defined by the CIM Definition Standards for Mineral Reserves, and mineral reserves at that time, and these “historical estimates” are not considered by ATHA to be current. In each instance, the reliability of the historical estimate is considered reasonable, but a Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource, and ATHA is not treating the historical estimate as a current mineral resource. The historical information provides an indication of the exploration potential of the properties but may not be representative of expected results.
Notes on the Historical Mineral Resource Estimate for the Angilak Deposit:
This estimate is considered to be a “historical estimate” under NI 43-101 and is not considered by any of to be current. See below for further details regarding the historical mineral resource estimate for the Angilak Property.
Mineral resources which are not mineral reserves do not have demonstrated economic viability.
The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues.
The quality and grade of the reported inferred resource in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource, and it is uncertain if further exploration will result in upgrading them to an indicated or measured resource category.
Contained value metals may not add due to rounding.
A 0.2% U3O8 cut-off was used.
The mineral resource estimate contained in this press release is considered to be “historical estimates” as defined under NI 43-101 and is not considered to be current.
The “historical estimate” is derived from a Technical Report entitled “Technical Report and Resource Update For The Angilak Property, Kivalliq Region, Nunavut, Canada”, prepared by Michael Dufresne, M.Sc., P.Geol. of APEX Geosciences, Robert Sim, B.Sc., P.Geo. of SIM Geological Inc. and Bruce Davis, Ph.D., FAusIMM of BD Resource Consulting Inc., dated March 1, 2013 for ValOre Metals Corp.
As disclosed in the above noted technical report, the historical estimate was prepared under the direction of Robert Sim, P.Geo, with the assistance of Dr. Bruce Davis, FAusIMM, and consists of three-dimensional block models based on geostatistical applications using commercial mine planning software. The project limits area based in the UTM coordinate system (NAD83 Zone14) using nominal block sizes measuring 5x5x5m at Lac Cinquante and 5x3x3 m (LxWxH) at J4. Grade (assay) and geological information is derived from work conducted by Kivalliq during the 2009, 2010, 2011 and 2012 field seasons. A thorough review of all the 2013 resource information and drill data by a Qualified Person, along with the incorporation of subsequent exploration work and results, which includes some drilling around the edges of the historical resource subsequent to the publication of the 2013 technical report, would be required in order to verify the Angilak Property historical estimate as a current mineral resource.
The historical mineral resource estimate was calculated in accordance with NI 43-101 and CIM standards at the time of publication and predates the current CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014) and CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (November, 2019).
A thorough review of all historical data performed by a Qualified Person, along with additional exploration work to confirm results would be required to produce a current mineral resource estimate prepared in accordance with NI 43-101.
Notes on the Historical Mineral Resource Estimate for the Moran Lake Deposit:
Jeffrey A. Morgan, P.Geo. and Gary H. Giroux, P.Eng. completed a NI 43-101 technical report titled “Form 43-101F1 Technical Report on the Central Mineral Belt (CMB) Uranium Project, Labrador, Canada, Prepared for Crosshair Exploration & Mining Corp.” and dated July 31, 2008, with an updated mineral resource estimate for the Moran Lake C-Zone along with initial mineral resources for the Armstrong and Area 1 deposits. They modelled three packages in the Moran Lake Upper C-Zone (the Upper C Main, Upper C Mylonite, and Upper C West), Moran Lake Lower C-Zone, two packages in Armstrong (Armstrong Z1 and Armstrong Z3), and Trout Pond. These mineral resources are based on 3D block models with ordinary kriging used to interpolate grades into 10 m x 10 m x 4 m blocks. A cut-off grade of 0.015% U3O8 was used for all zones other than the Lower C Zone which employed a cut-off grade of 0.035%. A thorough review of all historical data performed by a Qualified Person, along with additional exploration work to confirm results, would be required to produce a current mineral resource estimate prepared in accordance with NI 43-101 standards.
3. Notes on the Historical Mineral Resource Estimate for the Anna Lake Deposit:
The mineral resource estimate contained in this table is considered to be a “historical estimate” as defined under NI 43-101, and is not considered to be current and is not being treated as such. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources. A qualified person would need to review and verify the scientific information and conduct an analysis and reconciliation of historical drill and geological data in order to verify the historical estimate as a current mineral resource.
Reported by Bayswater Uranium Corporation in a Technical Report entitled “Form 43-101 Technical Report on the Anna Lake Uranium Project, Central Mineral Belt, Labrador, Canada”, prepared by R. Dean Fraser, P.Geo. and Gary H. Giroux, P.Eng., dated September 30, 2009.
A 3-dimensional geologic model of the deposit was created for the purpose of the resource estimate using the Gemcom/Surpac modeling software. A solid model was created using a minimum grade x thickness cutoff of 3 meters grading 0.03% U3O8. Intersections not meeting this cutoff were generally not incorporated into the model. The shell of this modeled zone was then used to constrain the mineralization for the purpose of the block model. Assay composites 2.5 meters in length that honoured the mineralized domains were used to interpolate grades into blocks using ordinary kriging. An average specific gravity of 2.93 was used to convert volumes to tonnes. The specific gravity data was acquired in-house and consisted of an average of seventeen samples collected from the mineralised section of the core. The resource was classified into Measured, Indicated or Inferred using semi-variogram ranges applied to search ellipses. All resources estimated at Anna Lake fall under the “Inferred” category due to the wide spaced drill density. An exploration program would need to be conducted, including twinning of historical drill holes in order to verify the Anna Lake Project estimate as a current mineral resource.
Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. These forward-looking statements or information may relate to ATHA’s proposed exploration program, including statements with respect to the expected benefits of ATHA’s proposed exploration program, any results that may be derived from ATHA’s proposed exploration program, the timing, scope, nature, breadth and other information related to ATHA’s proposed exploration program, any results that may be derived from the diversification of ATHA’s portfolio, the prospects of ATHA’s projects, including mineral resources estimates and mineralization of each project, the prospects of ATHA’s business plans and any expectations with respect to defining mineral resources or mineral reserves on any of ATHA’s projects, and any expectation with respect to any permitting, development or other work that may be required to bring any of the projects into development or production.
Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions that the anticipated benefits of ATHA’s proposed exploration program will be realized, that no additional permit or licenses will be required in connection with ATHA’s exploration programs, the ability of ATHA to complete its exploration activities as currently expected and on the current anticipated timelines, including ATHA’s proposed exploration program, that that ATHA will be able to execute on its current plans, that ATHA’s proposed explorations will yield results as expected, the synergies between ATHA, 92 Energy and Latitude Uranium’s assets, and that general business and economic conditions will not change in a material adverse manner. Although ATHA has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
Such statements represent the current view of ATHA with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by ATHA, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: inability of ATHA to realize the benefits anticipated from the exploration and drilling targets described herein or elsewhere; in ability of ATHA to complete current exploration plans as presently anticipated or at all; inability for ATHA to economically realize on the benefits, if any, derived from the exploration program; failure to complete business plans as it currently anticipated; overdiversification of ATHA’s portfolio; failure to realize on benefits, if any, of a diversified portfolio; unanticipated changes in market price for ATHA shares; changes to ATHA’s current and future business and exploration plans and the strategic alternatives available thereto; growth prospects and outlook of the business of ATHA; any impacts of COVID-19 on the business of ATHA and the ability to advance the Company projects and its proposed exploration program; risks inherent in mineral exploration including risks related worker safety, weather and other natural occurrences, accidents, availability of personnel and equipment, and other factors; aboriginal title; failure to obtain regulatory and permitting approvals; no known mineral resources/reserves; reliance on key management and other personnel; competition; changes in laws and regulations; uninsurable risks; delays in governmental and other approvals, community relations; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions in Canada and other jurisdictions where ATHA conducts business. Other factors which could materially affect such forward-looking information are described in the filings of ATHA with the Canadian securities regulators which are available on ATHA’s profile on SEDAR+ at www.sedarplus.ca. ATHA does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/afef15c2-7551-4a5c-a65b-131ee5cc78a6
Cameco Reports Q1 Results: 2024 Outlook Remains Solid; Financial Discipline and Strong Cash Position Result in Focused Debt Reduction; Operationally, Segments Performing to Plan; Attributes of Baseload Nuclear Power Attracting Tech Sector Investment
https://ca.finance.yahoo.com/news/cameco-reports-q1-results-2024-105000444.html
Business Wire
Tue, April 30, 2024 at 3:50 a.m. PDT·28 min read
CCO.TO
-5.75%
CCJ
-6.45%
SASKATOON, Saskatchewan, April 30, 2024--(BUSINESS WIRE)--Cameco (TSX: CCO; NYSE: CCJ)
Nuclear Fuels Announces Resumption of Drilling at Its Kaycee ISR Uranium Project, Powder River Basin, Wyoming
https://www.newswire.ca/news-releases/nuclear-fuels-announces-resumption-of-drilling-at-its-kaycee-isr-uranium-project-powder-river-basin-wyoming-852490703.html
Nuclear Fuels Inc. Apr 29, 2024, 08:00 ET
CSE:NF
VANCOUVER, BC, April 29, 2024 /CNW/ - Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF)
Mamba Exploration/Standard Uranium Prepare to Mobilize for JV-Partner Funded Inaugural Drill Program at Canary Project, Eastern Athabasca Basin
https://ca.finance.yahoo.com/news/standard-uranium-prepares-mobilize-jv-110000251.html
Standard Uranium Ltd.
Mon, April 29, 2024 at 4:00 a.m. PDT·6 min read
STTDF
+4.14%
VANCOUVER, British Columbia, April 29, 2024 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to announce that drilling and mobilization plans have been finalized for the inaugural drill program on the 7,302-hectare Canary Project (“Canary” or “the Project”). The Project is currently under a three-year earn-in option agreement (the “Option Agreement”) with Mamba Exploration Limited. (“Mamba”). Pursuant to the Option Agreement, Mamba has been granted an option (the “Option”) to earn a 75% interest in the Project by funding CAD$6M in exploration expenditures over three years, with the inaugural drill program planned for spring 2024.
The Company and Mamba are pleased to announce that final planning is complete for the inaugural Spring/Summer drill program on the Project, situated in the prolific eastern Athabasca Basin (Figure 1). Exploration teams will be mobilizing to the field in early May, ahead of schedule.
Highlights:
Drill Plan Finalized: Approximately 1,000-1,500 metres planned across 3-4 drill holes, targeting shallow high-grade1 unconformity-related uranium mineralization.
Robust & Shallow Drill Targets: Drill plans comprise helicopter-supported diamond drilling focused on high-priority unconformity-related uranium targets refined by geophysical work completed by the Company in 2022. Ideal unconformity and basement target zones on the Project lie within approximately 200-350 metres below surface.
Untapped Uranium Potential: One diamond drill will focus on the highest-priority target area along the northern electromagnetic (“EM”) corridor (Figure 2), investigating a significant resistivity anomaly coincident with modeled VTEM conductors for the first time.
Fully Funded: Mamba Exploration will be funding 100% of the program to meet the year-one expenditure requirements under the Option Agreement.
Mobilization: Diamond drilling crews will mobilize to the Canary Project on May 3rd.
1 The Company considers uranium mineralization with concentrations greater than 1.0 wt% U3O8 to be “high-grade”.
“Our technical team and partners at Mamba are thrilled to begin drilling the exciting targets identified on the first of three EM corridors on the Project for the first time, exploring for shallow high-grade unconformity-related uranium mineralization,” said Sean Hillacre, President & VP Exploration for the Company. “Our exploration thesis on the Project is directly analogous to the targeting strategies that lead to recent discoveries in the Mudjatik Domain such as the high-grade Hurricane deposit just to the south of Canary.”
Overview of northeastern Athabasca Basin region, highlighting the Canary Project. Hurricane Deposit Indicated Resource from IsoEnergy Ltd. Technical Report on the Larocque East Project, Northern Saskatchewan, Canada. Dates July 8, 2022.
Figure 1. Overview of northeastern Athabasca Basin region, highlighting the Canary Project. Hurricane Deposit Indicated Resource from IsoEnergy Ltd. Technical Report on the Larocque East Project, Northern Saskatchewan, Canada. Dates July 8, 2022.
Inaugural 2024 Drill Program
The spring/summer program will be the first drill campaign completed by the Company on the Project with partner company Mamba Exploration, following successful identification of high-priority targets in 2022-2023. The Project covers more than 16 km of conductive corridors across three prospective exploration trends which locally host anomalous historical uranium occurrences. The Company completed a high-resolution ground DC/IP survey on the project in 2022, providing valuable structural and lithological information in the area to identify conductive bodies and potential fault systems. Significant resistivity-low anomalies are present along the northern conductor on the project, potentially representing substantial hydrothermal alteration zones in the sandstone and coincident with basement conductors.
The Base Diamond Drilling team is scheduled to arrive at the Project on May 3rd to begin drill pad preparation, and the Standard Uranium team is slated to mobilize on May 8th, 2024.
The Project is situated in the Mudjatik geological domain where several recent discoveries have been made, including IsoEnergy’s Hurricane Deposit located 11 km directly to the south, and is significantly underexplored relative to adjacent magnetic low/EM conductor corridors. Drill targets have been prioritized on the northern Canary EM corridor, providing robust and untested drill targets for the Phase I drilling program (Figure 2 and Figure 3).
Geophysical map highlighting basement-linked resistivity anomalies identified through the 2022 DC/IP survey on the Canary Project. The 2024 drill target area is circled in red. Three main exploration trends and historical drill holes are displayed with first vertical derivative (1VD) magnetics in the background.
Figure 2. Geophysical map highlighting basement-linked resistivity anomalies identified through the 2022 DC/IP survey on the Canary Project. The 2024 drill target area is circled in red. Three main exploration trends and historical drill holes are displayed with first vertical derivative (1VD) magnetics in the background.
Schematic cross-section A-A’ (Figure 2) facing west through the northern conductor trend on the Project, highlighting significant resistivity anomalies coincident with modeled EM conductors.
Figure 3. Schematic cross-section A-A’ (Figure 2) facing west through the northern conductor trend on the Project, highlighting significant resistivity anomalies coincident with modeled EM conductors.
Additionally, legacy GeoTEM data defining the southeastern EM corridor on the project is directly comparable to the response and scale of the GeoTEM conductor which hosts the Roughrider/J-zone uranium deposits further to the south. Highly anomalous geochemistry and favorable alteration was returned from historical drill hole CRK-137 along the southeastern conductor, providing an exceptional follow-up target for Phase II drilling.
The scientific and technical information contained in this news release has been reviewed, verified, and approved by Sean Hillacre, P.Geo., President & VP Exploration of the Company and a “qualified person” as defined in NI 43-101.
About Standard Uranium (TSX-V: STND)
We find the fuel to power a clean energy future
Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in the world’s richest uranium district. The Company holds interest in over 209,867 acres (84,930 hectares) in the world-class Athabasca Basin in Saskatchewan, Canada. Since its establishment, Standard Uranium has focused on the identification, acquisition, and exploration of Athabasca-style uranium targets with a view to discovery and future development.
Standard Uranium has successfully completed four joint venture earn in partnerships on their Sun Dog, Canary, Atlantic and Ascent projects totaling over $31M in work commitments over the next three years from 2024-2026.
Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, comprises ten mineral claims over 30,737 hectares. Davidson River is highly prospective for basement-hosted uranium deposits due to its location along trend from recent high-grade uranium discoveries. However, owing to the large project size with multiple targets, it remains broadly under-tested by drilling. Recent intersections of wide, structurally deformed and strongly altered shear zones provide significant confidence in the exploration model and future success is expected.
Standard Uranium’s eight eastern Athabasca projects comprise thirty mineral claims over 32,838 hectares. The eastern basin projects are highly prospective for unconformity related and/or basement hosted uranium deposits based on historical uranium occurrences, recently identified geophysical anomalies, and location along trend from several high-grade uranium discoveries.
Standard Uranium's Sun Dog project, in the northwest part of the Athabasca Basin, Saskatchewan, is comprised of nine mineral claims over 19,603 hectares. The Sun Dog project is highly prospective for basement and unconformity hosted uranium deposits yet remains largely untested by sufficient drilling despite its location proximal to uranium discoveries in the area.
For further information contact:
Jon Bey, Chief Executive Officer, and Chairman
Suite 918, 1030 West Georgia Street
Vancouver, British Columbia, V6E 2Y3
Tel: 1 (306) 850-6699
E-mail: info@standarduranium.ca
Cautionary Statement Regarding Forward-Looking Statements
This news release contains “forward-looking statements” or “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements include, but are not limited to, statements regarding: the timing and content of upcoming work programs; geological interpretations; timing of the Company’s exploration programs; and estimates of market conditions.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements are highlighted in the “Risks and Uncertainties” in the Company’s management discussion and analysis for the fiscal year ended April 30, 2023.
Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company’s actual financial results, performance, or achievements to be materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop forward-looking statements include, without limitation: that the transaction with the Optionee will proceed as planned; the future price of uranium; anticipated costs and the Company’s ability to raise additional capital if and when necessary; volatility in the market price of the Company’s securities; future sales of the Company’s securities; the Company’s ability to carry on exploration and development activities; the success of exploration, development and operations activities; the timing and results of drilling programs; the discovery of mineral resources on the Company’s mineral properties; the costs of operating and exploration expenditures; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); uncertainties related to title to mineral properties; assessments by taxation authorities; fluctuations in general macroeconomic conditions.
The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/27e7afc7-a5e0-45b4-88da-cbd0e453c6a1
https://www.globenewswire.com/NewsRoom/AttachmentNg/cbadae22-5074-4b45-8e60-37fb451c5a16
https://www.globenewswire.com/NewsRoom/AttachmentNg/aa663073-44cb-4266-86d2-de8536852739
Bedford Metals Reaches Definitive Agreement for Ubiquity Lake Uranium Project in Athabasca, Canada
https://ca.finance.yahoo.com/news/bedford-metals-reaches-definitive-agreement-060000751.html
Bedford Metals Corp.
Sun, April 28, 2024 at 11:00 p.m. PDT·4 min read
URGYF
0.00%
VANCOUVER, British Columbia, April 29, 2024 (GLOBE NEWSWIRE) -- Bedford Metals Corp. (TSX-V: BFM) (the “Company” or “Bedford”) announces that following a successful diligence review, it has elected to enter into a definitive option agreement (the “Agreement”), with an arms-length party, to acquire the Ubiquity Lake Uranium Project located in the renowned Athabasca Basin, Canada. This Agreement allows Bedford Metals to expand its existing mineral property portfolio with a highly prospective uranium project.
The Ubiquity Lake Uranium Project, covering 1382 hectares, lies just south of the bottom lip of the Athabasca Basin, adjacent to ALX Uranium’s Carpenter Lake Project to the east. Situated near the Cable Bay Shear Zone, parallel to the Virgin River Shear Zone, which hosts Cameco’s Centennial uranium deposit, the project holds immense potential. Furthermore, it is located 100 km west of Cameco’s past-producing Key Lake uranium mine, underscoring the strategic significance of its location.
Peter Born, President of Bedford, expressed his appreciation for the Company's technical advisors in facilitating the successful completion of due diligence, stating, "The Ubiquity Lake Uranium Project represents a significant step forward in our mission to create shareholder value. The addition of this highly prospective uranium project to our portfolio gives us the potential to play a role in the new green energy economy."
Bedford reaffirms its commitment to environmental stewardship and collaboration with local nations and communities as it moves forward with the Ubiquity Lake Uranium Project. The Company remains dedicated to conducting its operations responsibly and ethically, ensuring minimal environmental impact and fostering positive stakeholder relationships.
For further information regarding the Ubiquity Lake Uranium Project, and the terms by which the Company can acquire the Project, readers are encouraged to review the news release issued by the Company on March 7, 2024. No finders' fees or commissions are payable by the Company in connection with the Agreement, nor does the Agreement contemplate that any securities of the Company would be issued.
About Bedford Metals Corp.
Bedford Metals Corp. is a mineral exploration company. We create value for our shareholders by identifying and developing highly prospective mineral exploration opportunities. Our strategy is to advance our projects from discovery to production, allowing Bedford to achieve exceptional shareholder value through the entire mining life cycle.
Ubiquity Lake Uranium Project, covering 1382 hectares, lies just south of the bottom lip of the Athabasca Basin, adjacent to ALX Uranium’s Carpenter Lake Project to the east. Situated near the Cable Bay Shear Zone, parallel to the Virgin River Shear Zone, which hosts Cameco’s Centennial uranium deposit, the project holds immense potential. Furthermore, it is located 100 km west of Cameco’s past-producing Key Lake uranium mine, underscoring the strategic significance of its location.
Margurete Gold Project. Bedford owns a one-hundred percent interest in the Margurete Gold Project. The primary target of the Margurete Gold Project is the FB Zone. The project was last explored in 2018 with property-wide prospecting, mapping, and rock chip sampling, in parallel with a targeted pack-sack diamond drilling program. An initial exploration program was completed on the Margurete property in 1986 by Falconbridge. This program consisted of geochemical surveys, ground-based geophysics, and a diamond drilling program, successfully identifying gold-bearing veins, which are believed to be genetically related to the same mineralizing events responsible for the nearby Doratha Morton and Alexandria Gold mines.
Dr. Peter Born, PGeo, is the designated qualified person as defined by National Instrument 43-101 and is responsible for, and has approved, the technical information contained in this release.
For further information, please contact the Company at info @hage-1199 or visit the Company’s website at www.bedfordmetals.com.
On behalf of the Board,
Bedford Metals Corp.
“Peter Born”
President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
CONTACT:
MRKT360 INC
https://mrkt360.com
Alex Zertuche
alexz@mrkt360.com
For E.S.T Office Hours, Call 1 416-477-0587
Ashley Provides Historical Drilling Summary of Sahara Utah Uranium-Vanadium Property
https://www.accesswire.com/856437/ashley-provides-historical-drilling-summary-of-sahara-utah-uranium-vanadium-property
Thursday, 25 April 2024 08:30 AM
CALGARY, AB / ACCESSWIRE / April 25, 2024 / Ashley Gold Corp. (CSE:ASHL)
ALX Resources Intersects Additional Uranium Mineralization at the Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan
https://www.newsfilecorp.com/release/206777
April 25, 2024 7:30 AM EDT | Source: ALX Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 25, 2024) - ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF)
Panther Minerals Significantly Expands Footprint of the Boulder Creek Uranium Property, Alaska
https://thenewswire.com/press-releases/1Be9Fap4G-panther-minerals-significantly-expands-footprint-of-the-boulder-creek-uranium-property-alaska.html
Vancouver, British Columbia - TheNewswire – April 25, 2024 - Panther Minerals Inc. (“Panther Minerals” or the “Company”) (CSE:PURR) (OTC:GLIOF) is pleased to announce that it has significantly enlarged the footprint of the Boulder Creek uranium property (the “Property”), located in western Alaska and in respect of which it has an option (“Boulder Creek Option”) to acquire a 100% ownership interest, by staking 140 State of Alaska mining claims. Each claim is 160 acres in size, bringing the total footprint of the Property to 22,400 acres or 9,065 hectares (90.65 square kms). The Property now extends in a North Northwest – South Southeast for approximately 30 kms and varies in width from 3 to 7 kms. The recent staking campaign was designed to duplicate the area that was held, and the subject of exploration work by, Triex Mineral Corp. (“Triex”).
In July 2006, Triex flew a total of 1,155 line-km of airborne radiometric surveying over the area covered by the newly-staked claims using Triex’s in-house Exploranium GR460 spectrometer system that utilized two GPX-256 sodium iodide crystals mounted on a Hughes 500E helicopter (Internal Triex Company Report – Summary Report on the Boulder Creek Property 2006). The Company concluded, based on a review of the radiometric anomalies that were previously identified by Triex, the newly staked claims warranted additional exploration. The Company notes that a Qualified Person (within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”) has not done sufficient work to verify the foregoing historical information. The Company is not treating such historical information as being reliable, and it should not be relied upon.
The Company is continuing to gather and assess the information from the field activities conducted by Triex between 2006 – 2008 in preparation for its planned summer 2024 exploration program.
About the Property
The Property is located on Alaska's Seward Peninsula in northwestern Alaska and hosts the Boulder Creek uranium deposit within tertiary-aged sandstones peripheral to a Late Cretaceous alkalic quartz monzonite intrusion.
The scientific and technical information in this news release has been reviewed and approved for disclosure by Mr. Lindsay Bottomer, P.Geo. Mr. Bottomer is a “Qualified Person” within the meaning of NI 43-101 and is a consultant to the Company.
The Company also announces that it has engaged Fairfax Partners Inc. (“Fairfax Partners”), for a nine-month term (“Term”), to provide marketing, communication and investor relations services for the Company (the “Fairfax Agreement”). The Company will pay a one-time startup fee of $50,000 to Fairfax Partners and $10,000 per month until the Term, or unless terminated or extended pursuant to the Fairfax Agreement. The Company will not issue any securities to Fairfax Partners in consideration for the services. Fairfax Partners does not have any prior relationship with the Company and the Company and Fairfax Partners deal at arm’s length. As of the date hereof, to the company's knowledge, Fairfax Partners (including its directors and officers) do not own any securities of the Company.
About Panther Minerals Inc.
Panther Minerals Inc. is a mineral exploration company actively involved in the exploration of its North American project portfolio. The acquisition of the Boulder Creek Option reflects the Company's ongoing intention of pursuing advanced, highly quality prospective uranium projects that can be readily worked and efficiently explored in a timely manner. For more information please visit: www.pantherminerals.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
Mr. Robert Birmingham: Chief Executive Officer
Head Office: 305-1770 Burrard St. Vancouver, British Columbia, V6J3G7
Telephone: +1 (604) 416 0569
Website: www.pantherminerals.ca
Email: info@pantherminerals.ca
The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Property, the timing of exploration programs in the summer of 2024, whether the Company will exercise the Boulder Creek Option, expectations relating to the additional 140 State of Alaska mining claims and the expected benefits and opportunities that will arise with respect to the Property. The forward-looking information reflects management's current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Such risk factors may include, among others, but are not limited to: general economic conditions in Canada and globally; the inability of the Company to exercise the Boulder Creek Option; the possibility that a counterparty may breach a contractual arrangement; industry conditions, including governmental regulation and environmental regulation; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; and (ii) other factors beyond the control of the Company. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedarplus.ca.
Cosa Resources Announces Completion of Inaugural Diamond Drilling Program at the 100% Owned Ursa Uranium Project in the Athabasca Basin, Saskatchewan
https://www.newsfilecorp.com/release/206631
April 24, 2024 7:43 AM EDT | Source: Cosa Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 24, 2024) - Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU)
Atomic Minerals Plans Exploration with New Initiatives in Northern Saskatchewan's Uranium Epicenter
https://www.newsfilecorp.com/release/206492
April 23, 2024 8:00 AM EDT | Source: Atomic Minerals Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2024) - Atomic Minerals Corporation (TSXV: ATOM) ("ATOMIC MINERALS" or the "Company") is pleased to announce that in anticipation of the upcoming exploration season the Company has engaged Grander Exploration Ltd. ("Grander") to drive preliminary exploration programs and provide recommendations and budgets for the lead projects in its newly acquired Northern Saskatchewan property portfolio (the "Property"). (see February 5, 2024, March 6, 2024, and April 16, 2024 news releases).
Initially the focus will be on the projects within the Athabasca Basin: Parks Lake and Pistol Lake, one project to the south, Archie Lake and one project to the southeast, Bleasdell Lake.
"Atomic Minerals is thrilled to announce the engagement of Grander Exploration to spearhead the planning and future execution of exploration programs, it's an exciting time for Atomic Minerals with these new prospects in Northern Saskatchewan's Athabasca Basin," said Clive Massey, President, and CEO of Atomic Minerals. "Grander's innovative geological tools, including IP, magnetometer, and radiometric surveys, will expand the capabilities of our geological team, enabling a thorough investigation of these prolific uranium properties and building on the region's rich uranium mining heritage to optimally position our projects for success," he continued.
The Property portfolio in Northern Saskatchewan is comprised of nine individual properties spanning nearly 6,500 hectares. This strategically located portfolio lies within and adjacent to the prolific Athabasca Basin, a crucial area for uranium exploration.
Atomic Minerals is committed to responsibly advancing these projects with a focused exploration strategy targeting the full exploration potential of these assets. The Company's dedication to sustainable practices, community engagement, and ethical exploration will drive the development of these projects, reinforcing Atomic Minerals' position as a leader in the uranium exploration sector.
Parks Lake
Parks Lake lies in a highly prospective area on the eastern side of the Athabasca Basin, 3 km to SE of historic Rabbit Lake Mine and 2 km to 4km E to NE of Uranium Energy Corp.'s Horseshoe and Raven deposits. Majors completely surround Parks Lake, with Uranium Energy bordering the west and south and Cameco bordering the east and north. Conductors appear to trend from Uranium Energy's land onto the Parks Lake property, suggesting a high priority target.
With good road access, Grander Exploration proposes a 6-line km combined induced polarization ("IP") and magnetometer program along with 12-line km of radiometry. The focus of this program is confirming conductors continue onto the Parks Lake property and delineate them for subsequent drilling.
Pistol Lake
Pistol Lake lies 600 metres north of Cameco's 5,000,000 LBS Sand Lake Uranium Deposits, completely surrounded by Cameco. Recent drilling has been undertaken on most of the nearby claims according to the property vendor, suggesting conductors that appear to trend onto the Pistol Lake property are high priority targets.
Grander Exploration proposes a helicopter supported program consisting of 20-line km of IP-magnetometer-radiometry surveying focused on the suspected strike extensions of conductors on the Cameco ground in advance of diamond drilling.
Bleasdell Lake
Bleasdell Lake, lying to the southeast of the Athabasca Basin, 95 kilometres southwest of Lynn Lake, Manitoba, is one of the key properties in the package. Exploration in the late 1950's discovered two uranium bearing pegmatite dykes on the west shore of Bleasdell Lake. The 400 metre Horn Zone hosted zones of 90 metres of 0.12% U3O8 over 2.56 metres and 0.062% U3O8 over 1.21 metres, while drill width intersections over the entire 400 metre ranged from 0.091% U3O8 over 1.86 metres to 0.2025% U3O8 over 2.99 metres. There is little information on the Jackpine Zone located 450 metres along strike to the northwest. The sampling, trenching and diamond drilling defined a 1957 historic resource of 620,700 pounds of U3O8 contained within two zones.
Grander Exploration proposes a helicopter supported program consisting of 18-line km of IP surveying and 50-line km of magnetometer surveying focused on the strike extensions of the Horn and Jackpine zones in advance of diamond drilling.
The 1957 Bleasdell Lake historic resource was disclosed in a shareholder report for Columbia Metals Exploration Co. Ltd. dated November 9, 1957 (the "Shareholder Report"). There is no technical report. The historic resource is relevant to the potential of the Bleasdell Lake property and is reliable as it was calculated to the standards of the day. The estimate was based on closely spaced shallow drill holes and more widely spaced deeper drill holes. The calculations, methods or parameters were not disclosed in the Shareholder Report. The resource would be comparable to a current inferred resource. There are no more recent estimates though subsequent geologists visited the Property in the 1960's and 1970's, confirming the showings and the drilling was completed. The Company will need to twin a considerable number of the historic drill holes to upgrade or verify the historical estimate as current mineral resources.
A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource. Therefore, Atomic Minerals is not treating the historical estimate as a current mineral resource.
Archie Lake
Archie Lake lies contiguous to the north, east and west to NexGen Energy, on the southwest edge of the Athabasca Basin. NexGen holds a significant land package across three large blocks in this area, focused on repeats of its Arrow high-grade basement hosted uranium deposit. Grander Exploration proposes a helicopter supported program consisting of 6-line km of IP and magnetometer and 12-line km of radiometry surveying as a first pass program to identify prospective geology and conductors for follow up exploration in advance of diamond drilling.
About Grander Exploration Ltd.
Grander Exploration Ltd. is a specialized company based in Vancouver, British Columbia, that provides comprehensive ground exploration services across Canada. Their services are tailored to both large and small projects, ensuring that every undertaking is managed with the highest level of expertise by qualified personnel, including Professional Geologists if required. The company is particularly adept in uranium exploration, utilizing advanced technologies such as gamma radiation detection with Radiation Solutions RS-125 spectrometers and RS-120 scintillometers, alongside radon gas collection methods. These techniques enable Grander Exploration to identify and map uranium deposits effectively. They also offer a range of other services, including diamond drilling, geophysical surveys like IP and VLF EM to locate subsurface features, and detailed program planning and administration for exploration projects?. For more detailed information about their services and capabilities, you can visit their official website: Grander Exploration.
The data disclosed in this news release are related to historical exploration and drilling results. Atomic Minerals has not undertaken any independent investigation of the sampling, nor has it independently analyzed the results of the historical exploration work in order to verify the results. The Company considers these historical exploration and drill results relevant as the Company is using these data as a guide to plan exploration programs. The Company's current and future exploration work includes verification of the historical data through sampling and drilling.
Qualified Person
Mr. R. Tim Henneberry, P.Geo. (BC), an advisor to the Company, is the "Qualified Person" under National Instrument 43-101 responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.
About the Company
Atomic Minerals Corp. is a publicly listed exploration company on the TSX Venture Exchange, trading under the symbol ATOM, led by a highly skilled management and technical team with a proven track record in the junior mining sector. Atomic Minerals' objective is to identify exploration opportunities in regions that have been previously overlooked but are geologically similar to those with previous uranium discoveries. These underexplored areas hold immense potential and are in stable geopolitical and economic environments.
Atomic Minerals' property portfolio contains uranium projects in three locations within North America, all of which have significant technical merit and or are known for hosting uranium production in the past. Three of the properties are located on the Colorado Plateau, an area which has previously produced 597 million pounds of U3O8; Three others are in the prolific Athabasca Basin region and nine uranium projects are located in Northern Saskatchewan, encompassing a total exploration area of 6,495 hectares.
For additional information about the Company and its projects, please visit our website at www.atomicminerals.ca
ON BEHALF OF THE BOARD OF DIRECTORS
"Clive Massey"
Clive H. Massey
President & CEO
For further information, please contact:
(604) 341-6870
Neither TSX Venture Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements:
This news release contains certain statements that may be deemed "forward-looking" statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Atomic Minerals Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Atomic Minerals Corporation management on the date the statements are made. Except as required by law, Atomic Minerals Corporation undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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SOURCE: Atomic Minerals Corp.
CanAlaska Uranium/ Nexus Uranium Provide Update on Cree East Project Permitting
https://www.newsfilecorp.com/release/206483
April 23, 2024 6:00 AM EDT | Source: Nexus Uranium Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2024) - Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) (FSE: 3H1) (the "Company" or "Nexus Uranium") is pleased to provide an update on permitting for the Cree East uranium project in the Athabasca Basin of Saskatchewan, Canada (the "Cree East" or the "Project"). Nexus Uranium has the right to earn up to a 75% interest in the Project from CanAlaska Uranium Ltd. (TSXV: CVV). A three-year exploration permit application for the Project was submitted on March 19, 2024 and, if granted will allow for year-round exploration of up to 40,000 metres of drilling plus 300 line-kilometres of geophysics and other exploration programs. In addition, Condor Consulting, Inc. has been engaged to provide a comprehensive review and reinterpretation of all previous geophysical studies. This review will aid the Company in both designing a follow-up ground exploration and drill program to test the four defined priority target areas, as well as potentially identifying new targets due to the advancements of modern geophysical techniques compared to the historical studies (due to the deepening of the unconformity basement contact in deeper portions of the Athabasca Basin within the Project).
"Having now submitted for exploration permits for a multi-year program, we anticipate having all the necessary approvals in place for a summer exploration program," commented Jeremy Poirer, CEO of Nexus Uranium. "Given the extensive amount of high-quality historical exploration, in conjunction with a thorough review of prior geophysical and geological models, we anticipate finalizing a number of high-priority targets for drilling in the upcoming exploration program."
About Nexus Uranium Corp.
Nexus Uranium is a multi-commodity development company focused on advancing the Cree East uranium project in the Athabasca Basin and the Wray Mesa uranium-vanadium project in Utah in addition to its precious metals portfolio that includes the development-stage Independence mine located adjacent to Nevada Gold Mine's Phoenix-Fortitude mine in Nevada, the Napoleon gold project in British Columbia, and a package of gold claims in the Yukon. The Cree East project is one of the largest projects within the Athabasca Basin of Saskatchewan spanning 57,752 hectares (142,708 acres) and has seen over $20 million in exploration to date. The Wray Mesa project covers 6,282 acres within the heart of the prolific Uruvan mining district in Utah and has extensive historical drilling of over 500 holes defining multiple mineralized zones. The Independence project hosts an M&I (measured and indicated) resource of 334,300 ounces of gold (28M tonnes at 0.41 g/t gold) and an inferred resource of 847,000 ounces (9M tonnes at 3.22 g/t gold) of gold with a substantial silver credit. A 2022 Preliminary Economic Assessment (PEA) outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of $1,078 (U.S.) per ounce of gold. The Napoleon project comprises over 1,000 hectares and prospective for multiple forms of gold mineralization, with exploration in the area dating back to the 1970s with the discovery of high-grade gold. The Yukon gold projects are comprised of almost 8,000 hectares of quartz claims prospective for high-grade gold mineralization with historical grab sampling highlights of 144 g/t gold.
Nexus Uranium cautions investors the preliminary economic assessment is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. The Company further cautions investors Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability and further cautions investors the quantity and grade of the reported inferred Mineral Resources are uncertain in nature ?and there has been insufficient exploration to define these inferred Mineral Resources as ?indicated Mineral Resources.
The Company cautions investors it has yet to verify the historical data and further cautions investors grab samples are selective by nature and are unlikely to represent average grades of sampling on the entire property.
The technical content of this news release has been reviewed and approved by Warren D. Robb, P.Geo. (BC), a Director and VP Exploration of Nexus Uranium Corp. and a Qualified Person under National Instrument 43-101.
--
FOR FURTHER INFORMATION PLEASE CONTACT:
Jeremy Poirier
Chief Executive Officer
info@nexusuranium.com
This news release includes certain statements and information that may constitute "forward-looking information" within the meaning of applicable Canadian securities laws. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information, including, but not limited to, planned permitting and exploration at the Cree East Project.
Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release, including, but not limited to the assumption that the Company will be successful in obtaining all necessary permits to complete exploration and the assumption that such exploration will be able to commence this summer.
These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including, but not limited to general market and industry conditions, as well as those risk factors discussed in the Company's most recently filed management's discussion & analysis.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.
SOURCE: Nexus Uranium Corp.
Myriad Announces Acquisition of Historic Bonanza and Kermac/Day Uranium Mines at Copper Mountain
https://www.newsfilecorp.com/release/206089
April 19, 2024 7:30 AM EDT | Source: Myriad Uranium Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 19, 2024) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that its earn-in partner Rush Rare Metals Corp. ("Rush"), again guided by proprietary data, has acquired the historic Bonanza and Kermac/Day uranium mines at Copper Mountain (See Figure 1 below). Various proprietary documents in Myriad's possession indicate that the Bonanza Mine produced around 780,000 lbs from 30,000 tons of ore at a grade of 1.3% eU3O8, while at the Day Mine, 1,152 tons of ore were mined at grades of between 0.12% and 0.56% eU3O8 in the early 1960's (see Figure 2 below).
"Bonanza-Kermac" aggregates 280 acres, and its acquisition increases the area subject to Myriad's 75% earnable interest under the property option agreement between Myriad and Rush from 3,605 acres to 3,886 acres.
Figure 1: Current Copper Mountain Project Area including Bonanza-Kermac
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6301/206089_47decf06b46b3b87_002full.jpg
Myriad's CEO Thomas Lamb commented, "We continue to add highly prospective acreage at Copper Mountain."
Production during the late 1950's and 1960's from the Bonanza Mine Area came from siltstones of the Wind River Formation overlying the pre-Cambrian basement granitic rocks. Mineralization in these areas formed by basinward migration of uranium in channel sediments with precipitation occurring at roll-front boundaries or fault/hydrocarbon redox areas. The deposit lies downstream of the old Little Mo (Arrowhead) Mine which was the first area of production (around 500,000 lbs U3O8) before final shutdown in 1971 (Figure 2).
Figure 2: Extracts from 1975 and 1968 charts of Copper Mountain
indicating the Bonanza Mine's estimated uranium endowment and grade.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6301/206089_47decf06b46b3b87_003full.jpg
Mineralization in the Kermac/Day Mine Area follows a similar configuration and was investigated by RME as a site for potential shallow uranium mineralization in the late 1970's. Previous production was from Tertiary bentonitic clay sediments overlying the basement granite.
A qualified person (as defined under NI 43-101) has not done sufficient work to classify the historical target estimates reported in this news release as current mineral resources or mineral reserves, and Myriad is not treating the historical target estimates as current mineral resources or mineral reserves. In particular, the Company considers that insufficient work has been done to estimate a resource at the Bonanza-Kermac property and the potential cannot be relied upon until further work is done.
Qualified Person
The scientific or technical information in this news release respecting the Company's Copper Mountain Project has been approved by George van der Walt, MSc., Pr.Sci.Nat., MGSSA, a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. It is based on the Qualified Person's initial review of historical reports which were recently obtained by the Company. The Qualified Person considers the information to be relevant based on the amount and quality of work undertaken and reported historically. However, the information did not include original data such as drilling records, sampling, analytical or test data underlying the information or opinions contained in the written documents. Therefore, the Qualified Person has not reviewed or otherwise verified the information and has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves. A more thorough review of any available original data will be undertaken and reported on in more detail in future releases.
About Myriad Uranium Corp.
Myriad Uranium Corp. is a uranium exploration company with an earnable 75% interest in the Copper Mountain Uranium Project in Wyoming, USA. Copper Mountain hosts several known uranium deposits and historic uranium mines, including the Arrowhead Mine which produced 500,000 lbs of eU3O8. Copper Mountain saw extensive drilling and development by Union Pacific, which developed a mine plan and built a leach pad for one of the deposits at Copper Mountain. Operations ceased in 1980 before mining could commence due to falling uranium prices. Approximately 2,000 boreholes have been drilled at Copper Mountain and the project area has significant exploration upside. Union Pacific is estimated to have spent C$117 million (2023 dollars) exploring and developing Copper Mountain, generating significant historical resource estimates which are detailed here.
Myriad also holds 80% ownership of over 1,800 km2 of uranium exploration licenses in the Tim Mersoi¨ Basin, Niger, with the option to earn up to 100%. These licenses are surrounded by many of the most significant uranium deposits in Africa, including Orano's 384 Mlbs eU3O8 Imouraren, Global Atomic's 236 Mlbs Dasa, and Goviex's 100 Mlbs Madaouela, and on the same fault structures. Myriad also has a 50% interest in the Millen Mountain Property in Nova Scotia, Canada, with the other 50% held by Probe Metals Inc. For further information, please refer to Myriad's disclosure record on SEDAR+ (www.sedarplus.ca), contact Myriad by telephone at +1.604.418.2877, or refer to Myriad's website at www.myriaduranium.com.
Recent interviews with Crux Investor and VSA are here and here. A video overview of the Copper Mountain Project is here.
Myriad Contacts:
Thomas Lamb
President and CEO
tlamb@myriaduranium.com
Forward-Looking Statements
Mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company's properties. This news release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of the Company's mineral properties, the proposed work program on the Company's mineral properties and the potential and economic viability of the Company's mineral properties. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
The CSE has not reviewed, approved or disapproved the contents of this news release.
SOURCE: Myriad Uranium Corp.
Inspiration Energy Options Two Uranium Projects in the Athabasca Basin, Saskatchewan, from Atha Energy .
https://thenewswire.com/press-releases/1Bb4FYVd4-inspiration-energy-options-two-uranium-projects-in-the-athabasca-basin-saskatchewan-from-atha-energy-corp.html
Vancouver, British Columbia, April 23,2024: Inspiration Energy Corp. (the "Company" or "Inspiration") (CSE: ISP) is pleased to announce that it has further expanded its presence in the Athabasca Basin by entering into Option Agreements to acquire a 70% undivided interest in two Uranium properties (the “Plateau Property” and “Ledge Property”) from Atha Energy Corp. (“Atha”). See Figure 1. for a map of Inspiration’s current land holdings in the Athabasca Basin.
Click Image To View Full Size
Figure 1. Map of Inspiration Energy Corp.'s current land holdings in the Athabasca Basin.
The Plateau Property, located in the southeast Athabasca Basin, consists of 9 mineral dispositions totalling 27,252ha (27km2). The Athabasca Basin unconformity-contact crosscuts the southern mineral dispositions of the property, and the sandstone extends northwards to a maximum thickness of 800 metres. The basement rock underlying the Plateau Property consists of mainly Archean felsic gneisses with lesser Archean and Paleoproterozoic supracrustal rocks. See Figure 2. for Plateau Property location map.
Figure 2. Plateau Property location map.
Highlights:
Targeting basement-hosted and unconformity-associated Uranium mineralization.
Property Structural Fabric: Curvilinear NE-trending belt dominated by dome-and-basin-style interference-folding of the Mudjatik Domain overprinted by NE-linear Cable Bay Shear Zone.
Major Structures include Cable Bay Shear Zone, Tabbernor faults, and Mackenzie diabase dykes.
Proximity to Known Mineralization: 1 km from Fleming Island Occurrence (3% U outcrop samples). There are multiple Saskatchewan Mineral Deposit Index showings proximal to the property that include Co, Cu, Zn, and Ni.
Recent Work: XciteTM helicopter-borne time-domain electromagnetic (HTDEM) system flown over entire property in 2023, which defined 73 linear-kilometres of conductors on the property.
XciteTM survey has highlighted coincident magnetic and electromagnetic anomalies within the northwest quadrant of the property that may host northeast trending splay faults of the Cable Bay Shear Zone.
About the Plateau Property:
The Plateau Property is comprised of 9 mineral dispositions encompassing a total land area of 27,252ha (27km2) and is located along the southeast margin of the Athabasca Basin. The property sits adjacent to, and potentially overlies, portions of the conductive Cable Bay Shear Zone that hosts multiple Saskatchewan Mineral Deposit Index (SMDI) occurrences relating to unconformity-associated Uranium mineralization and Mafic-Ultramafic Intrusion-hosted Ni-Cu-(Co-PGE) mineralization. The 4 southernmost mineral dispositions lay partially outside the extent of the Athabasca Basin unconformity contact. The sandstone overlying the remaining mineral dispositions dips downward to the north; the northernmost disposition contains sandstone up to 800m thick.
Future Work Recommendation for the remainder of 2024 through to the end of 2026:
I. Complete drillhole and surficial geochemistry compilation work initiated by Atha.
II. Property-wide airborne gravity survey.
III. Property-wide ground geochemistry/boulder sampling survey.
IV. Ground time-domain electromagnetic (TDEM) and ground DC-IP resistivity surveying over the northern dispositions.
V. Geologic mapping & prospecting over the southern dispositions.
The Ledge Property, located in the northeast Athabasca Basin, consists of 7 mineral dispositions totalling 38,784ha (38km2). The Athabasca Basin unconformity-contact crosscuts the northern mineral dispositions of the property, and the sandstone extends southwards to a maximum thickness of 200 metres. The basement rocks underlying the Ledge Property consist of mainly Archean felsic gneisses with lesser Archean and Paleoproterozoic supracrustal rocks. See Figure 3. For Ledge Property location map.
Click Image To View Full Size
Figure 3. Ledge Property location map.
Highlights:
Targeting basement-hosted and unconformity-associated Uranium mineralization.
Property Structural Fabric: Curvilinear NE-trending belt dominated by dome-and-basin-style interference-folding typical of the Mudjatik Domain.
Major Structures include Tabbernor faults, Mackenzie diabase dykes, and potential extension of the Cable Bay Shear Zone.
Numerous drill holes and boulder sampling has been completed on the property with anomalous Uranium and scintillometer values which have been linked to the granitoids.
Proximity to Known Mineralization: Moosonees Lake Bedrock Uranium Showing on Property ( Surficial Boulder Sample at 0.19% U3O8).
Recent Work: XciteTM helicopter-borne time-domain electromagnetic (HTDEM) system flown over entire property in 2023, which defined 50 linear-kilometres of conductive lineaments.
About the Ledge Property:
The Ledge Property is comprised of 7 mineral licences encompassing a total land area of 38,784ha (38km2) and is located along the northeast margin of the Athabasca Basin. The property potentially overlies portions of the conductive Cable Bay Shear Zone that hosts Saskatchewan Mineral Deposit Index (SMDI) occurrence #1617 relating to Felsic Intrusion-hosted Uranium mineralization with associated Fe, Mo, and Th. The 3 northernmost mineral dispositions of the property lay partially outside the extent of the Athabasca Basin unconformity contact. The sandstone overlying the remaining mineral dispositions dips downward to the south; the southernmost disposition contains sandstone up to 200m thick.
Future Work Recommendation for the remainder of 2024 through to the end of 2026:
I. Complete drillhole and surficial geochemistry compilation work initiated by ATHA Energy Corp.
II. Property-wide airborne gravity survey.
III. Property-wide geologic mapping, prospecting.
IV. Property-wide ground geochemistry/boulder survey.
Charles Desjardins. President and CEO of Inspiration states that “These 2 new, exciting projects we are joint venturing with Atha Energy Corp. dovetail extremely well with our existing portfolio of uranium projects. This new relationship with Atha brings Atha’s foothold and experience in both the Athabasca and Thelon Basins to the table and will provide many exploration synergies for shareholders of Inspiration.”
Terms of the Option Agreements:
In accordance with the terms of the Option Agreements, the Company can earn a 70% undivided interest (subject to underlying 2.0% NSR royalties on each property agreed to by the parties) in the Plateau Property and Ledge Property through the issuance of 4,330,228 common shares of the Company (the “Consideration Shares”) to Atha and incurring a total of $8,000,000 on exploration expenditures broken down as described below. Additionally, Atha is entitled to anti-dilution projection during the option period, such that the number of common shares issuable will be adjusted upwards to maintain a 9.0% shareholder interest upon any issuance of new common shares by the Company out of treasury. The anti-dilution feature will not be triggered by any shares issued upon exercise of outstanding stock options, warrants or other convertible securities.
Plateau Property
Inspiration may exercise the option on the Plateau Property by satisfying all of the following conditions:
Issuing an aggregate of 2,165,114 Consideration Shares to Atha within two (2) business days following regulatory approval at the market price of the common shares of the Company; and
Incurring exploration expenditures on the Plateau Property in the following amounts:
(i) $400,000 by September 1, 2024;
(ii) an additional $400,000 by September 1, 2025;
(iii) an additional $3,000,000 by September 1, 2028; and
This Option Agreement will terminate at Atha’s discretion if Inspiration fails to incur exploration expenditures and issue the Consideration Shares to Atha as set out above or if CSE acceptance is not granted within 35 days of the effective date of the Option Agreement.
Ledger Property
Inspiration may exercise the option on the Ledge Property by satisfying all of the following conditions:
Issuing an aggregate of 2,165,114 Consideration Shares to Atha within two (2) business days following regulatory approval at the market price of the common shares of the Company; and
Incurring Exploration Expenditures on the Ledge Property in the following amounts:
(i) $600,000 by September 1, 2024;
(ii) an additional $600,000 by September 1, 2025;
(iii) an additional $3,000,000 by September 1, 2028; and
This Option Agreement will terminate at Atha’s discretion if Inspiration fails to incur exploration expenditures and issue the Consideration Shares to Atha as set out above or if CSE acceptance is not granted within 35 days of the effective date of the Option Agreement.
NI 43-101 Disclosure
Paul Burry, P.Geo., (APEGS Licence #15000) is a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Burry has reviewed and approved the technical content in this release.
About Inspiration Energy Corp.
Inspiration Energy Corp. is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop properties of merit and to conduct exploration on the Company’s properties.
For more information, please refer to the Company's information available on SEDAR+ (www.sedarplus.ca).
On Behalf of the Board of Directors
Charles Desjardins
Chief Executive Officer, President, and Director
Phone: 604-808-3156
Email: info@inspiration.energy
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions, including with respect to the Company’s ability or intention to complete the Options Agreements, as described above. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR+ in Canada (available at WWW.SEDARPLUS.CA).
Ashley Gold Closes Option Agreement on the Sahara Uranium-Vanadium Property
https://thenewswire.com/press-releases/1k49Fgjpy-ashley-gold-closes-option-agreement-on-the-sahara-uranium-vanadium-property.html
CALGARY, ALBERTA – TheNewswire - April 23, 2024 - Ashley Gold Corp. (CSE:ASHL) (“Ashley” or the “Company”) is pleased to announce that, further to the news release dated March 4, 2024, it has executed a property option agreement dated April 22, 2024 (the “Agreement”) with San Rafael Resources LLC (“San Rafael”) to acquire a 100%-interest in the Sahara uranium-vanadium property, located in Emery County, Utah. (the “Property”).
Darcy Christian, CEO of Ashley comments “This is a defining moment for the Company as Ashley now has line of sight for production cash-flow to continue to develop its existing assets and provide capital for new opportunities. In addition, we have solidified a relationship with San Rafael and Greg Kofford, the Optionor, bringing his capital experience and knowledge to the table. Mr. Kofford is going to be aligned with the shareholders for the long-haul, participating in financings alongside new and existing shareholders, with the intent to grow Ashley into one of the largest public multi-district producers in North America.”
Option Agreement Terms
Under the terms of the Agreement, Ashley has the right to acquire a 100% undivided interest in the Property through staged cash and share payments, plus minimum work expenditures totaling USD $10 million over a three-year period, as summarized below:
4,500,000 Ashley common shares within 30 days of Ashley completing a private placement financing for first stage earn-in. Terms and conditions of the private placement will be disclosed in a future press release when finalized. Ashley previously issued 500,000 common shares to San Rafael as a deposit upon execution of the letter of intent.
1,000m drill program and completion of National Instrument 43-101 Report on the Property within 30 days of the first anniversary
To earn an initial 30% interest to the Property:
issue 18,500,000 common shares; and
pay USD $100,000 cash to San Rafael.
To earn a 50% interest to the Property:
issue 20,000,000 common shares; and
complete expenditures of USD $3,000,000 on the Property.
To earn 100% of the Property:
issue to San Rafael, the greater of 36,500,000 common shares and the number of Ashley common shares that would result in the aggregate number of common shares issued to San Rafael pursuant to the Agreement representing 40% of the issued and outstanding common shares;
pay USD $1,000,000 cash; and
USD $7,000,000 of expenditures on the Property.
In addition to the 100% earn-in, Ashley has agreed to issue additional common shares to San Rafael based on certain economic Uranium Resource identified in a Preliminary Economic Assessment, as follows:
10 million pounds of uranium in Preliminary Economic Assessment – 15,000,000 common shares and USD $500,000; and
30 million pounds of uranium in Preliminary Economic Assessment – 35,000,000 common shares and USD $2,500,000.
Upon completion of the acquisition of a 100% interest in the Property, Ashley will grant a 2% Net Smelter Return Royalty (the “NSR”) to San Rafael. Ashley will have the option to buy back 50% of the NSR for USD $2,000,000 prior to the commencement of commercial production.
As a prerequisite to executing the Agreement, Ashley has entered in to an investor rights agreement with San Rafael which gives San Rafael the right to participate in future financings on equal terms as well as the right to top up their equity position in any dilutive issuance (i.e., convertible securities) at the average 20-day Volume Weighted Average Price to maintain minimum ownership percentage. San Rafael shall also have the right to nominate a director to join the Board of Directors as Chairman upon initial earn-in, subject to regulatory approval.
About the Sahara Property
The Property represents 402 Federal claims and 3 State Claims locate in Emery County Utah. The Property is located 12 miles southwest of Green River, Utah and consists of over 10,000 acres. The region has produced 4,000,000 lbs of Uranium and 5,000,000 lbs of Vanadium with some historical production occuring on the Property until 1980. The Property is located one mile off of the I-70 and is accessed by all weather gravel roads. Water wells are located on the property and power is located less than a mile away to the northeast. In addition, a nearby telecommunicaions tower and fibre optics at the property provide internet and phone access.
The Property has over 900 historical drill holes over the Sahara, Jessies Twist and Acheson discoveries. Mineralization occurs in the Salt Wash Member of the Morrison Formation within fluvial sandstones. Additional targets have been identified with surficial gamma-ray spectrometry readings across the property. In additon, bulk tonnage targets have been identified for drilling as well as the hydrodynamic conditions for roll-front bluesky potential.
Click Image To View Full Size
Figure 1 - Ariel image of the Sahara Uranium-Vanadium Property with respect to Green River, Utah
ABOUT ASHLEY GOLD CORP.
Ashley Gold Corp. is focused on creating substantive, long-term value for its shareholders through the discovery and development of world class gold deposits. Ashley has acquired, 100% of the Tabor Lake Lease subject to a 1.5% royalty, 100% of the Santa Maria Project subject to a 1.75% royalty, 100% interest in the Howie Lake Project subject to a 0.5% royalty, 100% interest in the Alto-Gardnar Project subject to a 0.5% royalty, 100% interest in the Burnthut Property subject to a 1.5% NSR, and an option to earn 100% of the Sakoose claims subject to a 1.5% NSR. In addition, Ashley has entered into a Option to earn 100% of the Sahara Uranium-Vanadium property in Emery County, Utah subject to a 2% NSR.
Ashley Gold Corp. is an early-stage natural resource company engaged primarily in the acquisition, exploration, and if warranted, development of mineral projects. The Corporation’s objective is to conduct efficient and economical exploration on its growing portfolio of high-quality gold projects, currently focused in northwestern Ontario within the Eagle-Wabigoon-Manitou Lakes Greenstone Belts. In addition, Ashley has entered into a LOI to earn 100% of the Sahara Uranium-Vanadium property in Emery County, Utah subject to a 2% NSR.
Qualified Person
The technical and scientific information in this news release has been reviewed and approved by Darcy Christian, P.Geo., President of Ashley, who is a Qualified Person as defined by NI 43-101.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
DISCLAIMER & FORWARD-LOOKING STATEMENTS
This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Ashley Gold Corp. provides no assurance that actual results will meet management’s expectations. Factors which cause results to differ materially are set out in the Company’s documents filed on SEDAR. Undue reliance should not be placed on “forward looking statements”.
Myriad Uranium: Mining Lease Secured at Copper Mountain, Setting the Stage for Future Production
https://www.newsfilecorp.com/release/206309
April 22, 2024 7:30 AM EDT | Source: Myriad Uranium Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 22, 2024) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that its earn-in partner at the Copper Mountain Uranium Project, Rush Rare Metals Corp. ("Rush"), has entered into a 20-year mining lease (the "Lease") with Diamond X Ranch, LLC ("Diamond X") dated April 9, 2024, with automatic extensions if mining is in progress. The area subject to the Lease (see Figure 1 below) forms part of the Copper Mountain Uranium Project, in which Myriad has a 75% earnable interest pursuant to a property option agreement with Rush. With the Lease, the size of the Copper Mountain Uranium Project increases by 320 acres from 3,886 to 4,206 acres.
Figure 1: Copper Mountain area leased from Diamond X
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6301/206309_ea5d38fe14665b63_002full.jpg
Under the Lease, Myriad has paid Diamond X a US$5,000 signing bonus and the first-year property lease payment of US$8,000 (US$25 per acre). Uranium produced from portions of the leased area where Diamond X holds only surface rights will attract a flat 1% royalty on net returns. Uranium produced from areas where Diamond X holds both surface and mineral rights will attract a flat 3% royalty on net returns. "Net returns" means realised proceeds from the sale of uranium less processing, transportation, and some other costs.
The addition of the Diamond X claims is significant, as it completes the picture for the central part of the overall Myriad Uranium claims and secures the eastern portions of the North Canning (Canning) deposit area. The Canning deposit is known to contain between 8.79 Mlbs (at 0.017% eU3O8) and 19.0 Mlbs (at 0.039% eU3O8), as previously reported here, and is the primary target for planned verification work that is to be undertaken during the upcoming summer field season.
Thomas Lamb, Myriad's CEO, said: "This is a critical area at Copper Mountain and we're delighted to conclude a lease with Diamond X for access to it on fair terms. We have reasons to be optimistic that verification of resources and the pathway to uranium production at Copper Mountain could begin sooner than expected, especially if we opt for conventional mining, and it was important to secure this area well in advance. We have been boosted by our recent discovery and reporting of historical high grades (up to 3,850 ppm) and long (up to 291 ft) drill intervals relating to our central Canning Deposit (see our March 5, 2024 news release), which had never been publicly reported. Union Pacific was developing plans to mine Canning and several other deposits within the project area, when prices fell dramatically in the late 1970s. Rising prices raise this prospect to a new level of interest again. Now we have everything we need in terms of mineral and access rights at Canning to verify and restate the historical resources. I'd like to note that Union Pacific never drilled deeper than 183 metres anywhere at Copper Mountain and we believe that significant high grade potential could exist deeper along fault boundaries throughout the project areas. I'll be visiting Copper Mountain in a few weeks with our geologist George van der Walt to locate and examine old holes and plan our summer and fall exploration program there. I look forward to providing investors with an update after our visit."
A qualified person (as defined under NI 43-101) has not done sufficient work to classify the historical resource estimates reported in this news release as current mineral resources or mineral reserves, and Myriad is not treating the historical resource estimates as current mineral resources or mineral reserves.
Qualified Person
The scientific or technical information in this news release respecting the Company's Copper Mountain Project has been approved by George van der Walt, MSc., Pr.Sci.Nat., MGSSA, a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. It is based on the Qualified Person's initial review of historical reports which were recently obtained by the Company. The Qualified Person considers the information to be relevant based on the amount and quality of work undertaken and reported historically. However, the information did not include original data such as drilling records, sampling, analytical or test data underlying the information or opinions contained in the written documents. Therefore, the Qualified Person has not reviewed or otherwise verified the information and has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves. A more thorough review of any available original data will be undertaken and reported on in more detail in future releases.
About Myriad Uranium Corp.
Myriad Uranium Corp. is a uranium exploration company with an earnable 75% interest in the Copper Mountain Uranium Project in Wyoming, USA. Copper Mountain hosts several known uranium deposits and historic uranium mines, including the Arrowhead Mine which produced 500,000 lbs of eU3O8. Copper Mountain saw extensive drilling and development by Union Pacific, which developed a mine plan and built a leach pad for one of the deposits at Copper Mountain. Operations ceased in 1980 before mining could commence due to falling uranium prices. Approximately 2,000 boreholes have been drilled at Copper Mountain and the project area has significant exploration upside. Union Pacific is estimated to have spent C$117 million (2023 dollars) exploring and developing Copper Mountain, generating significant historical resource estimates which are detailed here.
Myriad also holds 80% ownership of over 1,800 km2 of uranium exploration licenses in the Tim Mersoi¨ Basin, Niger, with the option to earn up to 100%. These licenses are surrounded by many of the most significant uranium deposits in Africa, including Orano's 384 Mlbs eU3O8 Imouraren, Global Atomic's 236 Mlbs Dasa, and Goviex's 100 Mlbs Madaouela, and on the same fault structures. Myriad also has a 50% interest in the Millen Mountain Property in Nova Scotia, Canada, with the other 50% held by Probe Metals Inc. For further information, please refer to Myriad's disclosure record on SEDAR+ (www.sedarplus.ca), contact Myriad by telephone at +1.604.418.2877, or refer to Myriad's website at www.myriaduranium.com.
Recent interviews with Crux Investor and VSA are here and here. A video overview of the Copper Mountain Project is here.
Myriad Contacts:
Thomas Lamb
President and CEO
tlamb@myriaduranium.com
Forward-Looking Statements
Mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company's properties. This news release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of the Company's mineral properties, the proposed work program on the Company's mineral properties and the potential and economic viability of the Company's mineral properties. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
The CSE has not reviewed, approved or disapproved the contents of this news release.
SOURCE: Myriad Uranium Corp.
Baselode to Begin Bear Uranium Project Drill Program and Updates on Catharsis
https://www.newsfilecorp.com/release/205776
April 17, 2024 6:00 AM EDT | Source: Baselode Energy Corp.
1,500 metre inaugural Bear drill program scheduled to start in coming weeks
Catharsis drill program is complete, with results to be released when assays received
Toronto, Ontario--(Newsfile Corp. - April 17, 2024) - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to provide updates for its Bear ("Bear") and Catharsis ("Catharsis") uranium projects in the Athabasca Basin area, northern Saskatchewan (see Figure 1).
"This is an exciting time as we begin our inaugural drill exploration program on Bear. The geology looks compelling, with an apparent regional structure hosting uranium mineralization already being identified with historic drilling and overlapping geophysical gravity low anomalies associated with bends in EM conductors. A discovery at Bear would be fortuitous as it is located about 30 kilometres south of the Key Lake uranium mill, and 10 kilometres east of the Key Lake haul road.
"We're also pleased to announce that we completed our second drill program on Catharsis, testing six target areas. We're encouraged by the results from three target areas, which require additional follow-up exploration. Full detailed results for Catharsis will be made available after all of the assays have been received and interpreted by the Company," stated James Sykes, CEO, President, and Director of Baselode.
Bear Program Details
The Bear drill program is planned for 1,500 metres with 6 to 8 drill holes targeting 3 to 4 different target areas. The field crew has already commenced logistical support for Bear, and the drill crew are scheduled to be on-site within two weeks. The helicopter-support program allows expedient drill targeting and lessens any ground impacts on the environment. The Company has received the necessary permits to complete the program.
In addition to the drill program, a low altitude, high-resolution airborne radiometric and magnetic survey was completed on Bear in March. Final results have yet to be received but are expected prior to the start of the drill program.
Catharsis Program Details
A total of 11 drill holes were completed for 2,837 metres covering six different target areas. In addition to previously announced results (see News Release dated March 4, 2024), the Company intersected encouraging hydrothermal alteration and structures in two additional target areas. Baselode will release a detailed news release and video after all the assay results have been received and interpreted by the Company.
In addition to the drill program, a low altitude, high-resolution airborne radiometric and magnetic survey was completed on Catharsis in April.
About Baselode Energy Corp.
Baselode controls 100% of approximately 272,804 hectares for exploration in the Athabasca Basin area of northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.
The Company discovered the ACKIO near-surface, uranium prospect in September 2021. ACKIO measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 9 separate uranium Pods, with mineralization starting as shallow as 28 m and 32 m beneath the surface in Pods 1 and 7, respectively, and down to approximately 300 m depth beneath the surface with the bulk of mineralization occurring in the upper 120 m. ACKIO remains open at depth, and to the north, south and east.
Baselode's Athabasca 2.0 exploration thesis focuses on discovering near-surface, basement-hosted, high-grade uranium orebodies outside the Athabasca Basin. The exploration thesis is further complemented by the Company's preferred use of innovative and well-understood geophysical methods to map deep structural controls to identify shallow targets for diamond drilling.
QP Statement
The technical information contained in this news release has been reviewed and approved by Cameron MacKay, P.Geo., Vice-President, Exploration & Development for Baselode Energy Corp., who is considered to be a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
For further information, please contact:
James Sykes, CEO, President and Director
Baselode Energy Corp.
jsykes@oregroup.ca
306-221-8717
www.baselode.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release.
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Baselode Energy Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Baselode Energy Corp. Additional information identifying risks and uncertainties is contained in the Company's filings with Canadian securities regulators, which filings are available under Baselode Energy Corp. profile at www.sedarplus.ca.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
FIGURE 1 — Baselode projects location map. ACKIO uranium prospect identified with yellow circle.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/205776_baselode.jpg
SOURCE: Baselode Energy Corp.
Victory Battery Metals Options Kachiwiss Uranium Project and Other Uranium Anomalies
https://www.accesswire.com/854310/victory-battery-metals-corp-options-kachiwiss-uranium-project-and-other-uranium-anomalies
Thursday, 18 April 2024 07:00 AM
VANCOUVER, BC / ACCESSWIRE / April 18, 2024 / VICTORY BATTERY METALS CORP. (CSE:VR)(OTC PINK:VRCFF)(FWB:VR6) is pleased to announce that it has entered into an option agreement dated April 11, 2024 to acquire 100% interest in four claim groupings in the Sept Iles region of Quebec. These claims are being optioned from GLOBEX MINING ENTERPRISES INC. (GMX - Toronto Stock Exchange, G1MN - Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exchangesand GLBXF - OTCQX International in the US). Under terms of the agreement Victory will pay to Globex $400,000 in cash and 1,500,000 Victory shares over 3 years. In addition, Victory commits to execute a work program of a minimum of $3,000,000 on the claims over a 4-year period.
The claims cover the Kachiwiss Uranium deposit with a reported historical, 1978 non-Ni 43-101, compliant, non-classified resource of 16,598,000 tonnes grading 0.016% U3O8 within a pegmatic dyke oriented NW45o. The zone, as currently defined, measures 975 metres long by 610 metres to 760 metres wide and is open. Historical metallurgical test work suggested recoveries of up to 92.9% can be achieved 1. The same report mentions the presence of thorium in the region, In addition to the Kachiwiss deposit, the option includes a large package of claims covering lake bottom sediment sample uranium anomalies farther to the north. In total, 156 mining claims make up the package with Globex retaining a 10-kilometre area of mutual interest surrounding the current claim blocks.
Under the agreement, Globex also retains a 3% Gross Metal Royalty on all metals, minerals, elements or compounds including but not limited to uranium, thorium or any other marketable product from the claims. Victory may, at anytime, purchase 1% GMR from Globex for a single cash payment of $1,000,000.
Mr. Mark Ireton, Victory President and CEO noted "This is the first meaningful uranium acquisition of such that will position the company in both battery metals and energy metals spaces. We at Victory Battery Metals are excited by the potential this property holds. Uranium is a proven source of clean cheap power and advanced research into thorium is emerging a primary source of power for the future Located in the mining friendly province of Quebec, the project is in a region known for its deep-water port, its excellent infrastructure, and a labor pool strongly rooted in the mining industry."
Quebec Government Sigeom - Lac Kachiwiss File CGM 22J/01.001 - Oct 21/2011.
Scientific and technical information contained in this press release was reviewed and approved by Mr. Réjean Girard, Quebec Geologist, P.Geo (OGQ 521) and a "qualified person" under NI 43-101.
About Victory Battery Metals Corp.
VICTORY BATTERY METALS CORP. (CSE: VR) is a publicly traded diversified investment corporation with mineral interests in North America. The company is also actively seeking other exploration opportunities.
For further information, please contact:
Mark Ireton, President
Telephone: +1 (236) 317 2822 or TOLL FREE 1 (855) 665-GOLD (4653)
E-mail: info@victorybatterymetals.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE: Victory Battery Metals Corp.
Aero Energy/Standard Uranium Report on Recent Exploration Insights at the Sun Dog Project with Option Partner Aero Energy Ltd.
https://ca.finance.yahoo.com/news/standard-uranium-reports-recent-exploration-113000951.html
Standard Uranium Ltd.
Tue, April 16, 2024 at 4:30 a.m. PDT·11 min read
AAUGF
-8.89%
STTDF
-0.36%
Sun Dog is host to globally significant former uranium producer.
VANCOUVER, British Columbia, April 16, 2024 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to provide a comprehensive summary of exploration insights and historical data gathered at its Sun Dog Uranium Project (“Sun Dog”, or the “Project”), currently under a three-year earn-in option agreement with Aero Energy Ltd. (“Aero”) (TSX-V: AERO).
Highlights:
History of Production: The project hosts the historical Gunnar Mine which produced 18M pounds of U3O8 between 1953 and 1981 and was formerly the world’s largest uranium producer1,2.
Uranium Above and Below the Unconformity: Numerous historical high-grade* uranium showings ranging between 0.10% and 12.39% U3O8 have been documented at surface3,4. These showings occur in both basement rocks below the Unconformity and perched within Athabasca sandstones above the Unconformity thus confirming the presence of unconformity-related high-grade uranium on the Sun Dog Project.
Radioactivity at the Unconformity: Prospecting conducted by Standard Uranium has identified anomalous** to strong radioactivity ranging between 500 cps and >65,535 cps immediately associated with sandstone and basement faults, and along the surface expression of the Unconformity at multiple target areas providing further compelling support for the high prospectivity of the Sun Dog Project.
Favorable Host Rocks: An airborne VTEM™ Plus survey is currently underway designed to pinpoint graphitic rocks (conductors) favourable for hosting significant concentrations of uranium. This modern electromagnetic (“EM”) survey will infill and improve upon historical surveys which have identified at least 40 km of combined conductor strike length.
Target Development & Drilling: The results of the VTEM™ Plus survey will be subject to geophysical interpretation and modelling, and integrated with the Project’s existing datasets, to select and prioritize targets for the upcoming summer drill program scheduled to begin in early June.
Jon Bey, CEO of Standard Uranium, commented: “We are thrilled to return to the Sun Dog Project and continue advancing our exploration strategy targeting prospective high-grade uranium targets. The 2024 exploration program will leverage the results of the modern VTEM™ Plus survey currently underway, in addition to the combined uranium expertise of our joint technical team with partners at Aero Energy. The summer of 2024 will be an exciting time for active exploration in the Uranium City region and we are eager to get our drills spinning.”
Galen McNamara, CEO of Aero Energy, commented: “The Sun Dog Project is highly prospective for shallow high-grade uranium mineralization and is largely underexplored. The VTEM™ Plus survey covering both the Sun Dog and Murmac projects is nearing completion, and we expect the results to identify a significant number of high-priority drill targets for follow-up during our planned drill program scheduled to begin in early June. We look forward to sharing target information more specifically in the coming weeks as we advance towards our maiden drilling program”.
Uranium mineralization in Athabasca Group sandstone above the Unconformity on Stewart Island with radioactivity exceeding 65,535 counts-per-second.
Figure 1. Uranium mineralization in Athabasca Group sandstone above the Unconformity on Stewart Island with radioactivity exceeding 65,535 counts-per-second.
Sun Dog Project Overview and Historical Exploration:
The Project is currently under option (the “Option”) to Aero Energy Ltd. (the “Optionee”) an arms-length company (TSX-V: AERO). Pursuant to the Option Agreement, the Optionee will be granted the option to acquire 100% of the Project located along the northwestern edge of the Athabasca Basin, by funding C$6.5 million in exploration expenditures over a three-year period, making cash payments totalling C$650,000, and issuing C$650,000 in common shares, over a 2-year period. Following exercise of the Sun Dog Option, Standard will retain a 2% net smelter returns royalty, which may be reduced to 1% for a $1,000,000 cash payment.
The Project covers an area of 48,443 acres in nine mining claims, located 15 km from Uranium City on the northern margin of the Athabasca Basin. It hosts the historical Gunnar Uranium Mine, discovered in 1952, which doubled Canada’s uranium production and became the largest uranium producer globally in 1956. The Gunnar Mine produced approximately 18M lbs of U3O8 between 1953 and 19811,2.
During this time exploration efforts in the area primarily focused on “Beaverlodge-style” deposits, typically lower-grade, fault-hosted mineralization visible at the surface. This approach did not target, and would not have been effective for, the high-grade "Unconformity-related" basement-hosted deposits associated with graphitic rocks more recently discovered near the Athabasca Basin's edge (e.g. Arrow, Triple R).
These deposits are associated with graphite-rich rocks, evident as electromagnetic (EM) conductors in geophysical surveys. These graphite-rich rocks, softer than surrounding quartzite and granitoid lithologies, are not exposed at the surface. Instead, they are found in deeply weathered valleys, concealed by glacial till, soil and small lakes. The historical exploration methods applied included airborne radiometric and surface prospecting, identifying radioactive anomalies and drill testing their extents. This approach is not effective for this type of basement-hosted mineralization.
With only limited previous drilling, the extensive (>40 km strike length) conductors targeted at Sun Dog remain largely unexplored, offering significant potential for future discovery (Figure 2).
Selected uranium occurrences and known EM-conductors present on the Sun Dog Project
Figure 2: Selected uranium occurrences and known EM-conductors present on the Sun Dog Project
Preliminary Modern Exploration
Recent exploration efforts by Standard Uranium have focused on the most promising historical target areas, namely Skye, Java, and Stewart Island, testing down-dip extensions of structures hosting uranium at surface with the aim of discovering high-grade unconformity mineralization and basement “roots” of the mineralizing systems underlying the Athabasca sandstones.
Prospecting & Surface Exploration
In the fall of 2020, crews collected 56 outcrop grab samples, 6 boulder samples, and 14 historical core samples from the Project. These were primarily collected from mineralized target areas and from historical drill holes completed by former operators of the project.
Prospecting led to the discovery of a new high-grade uranium showing named the Haven discovery and several zones of visible uranium mineralization at surface that returned uranium assay results of 3.58% U3O8, 1.7% U3O8, and 0.7% U3O8.
Additionally, the analytical results revealed a correlation between uranium and gold, while boron and other pathfinder elements highlighted the potential for a robust alteration footprint associated with uranium mineralization. Surficial grab samples from faults and veins cutting sandstone outcrop returned high concentrations of dravite (up to 75%), a uranium pathfinder mineral commonly associated with uranium-fertile systems.
In the summer of 2022, Standard Uranium executed a field mapping and prospecting program to expand upon the results of the 2020 prospecting program. Scintillometers were used to track radioactivity with more than 80 new mineralized boulder and bedrock locations discovered on Johnston and Stewart islands.
The expanded surface expression of mineralization on south Johnston Island displayed scintillometer readings >10,000 cps and locally off-scale (>65,535 cps) and the historical mineralized surface occurrences on Stewart Island were confirmed with scintillometer measurements ranging from >500 cps to >65,535 cps. Radioactivity measurements were collected with hand-held RS-121 or RS-125 scintillometers. These occurrences provide compelling support for the presence of high-grade unconformity-associated uranium mineralization on the project.
Gravity and Magnetic Surveys
In the winter of 2022, MWH Geo-Surveys Ltd. carried out a ground gravity survey and UAV-borne magnetic surveys in the areas of Johnston and Stewart islands on behalf of Standard Uranium.
The gravity survey consisted of 3,388 unique gravity measurement stations and 155 repeat stations with a station spacing of 50 to 100 m. The survey identified several variations in residual gravity and outlined multiple gravity low target areas on and around Stewart and Johnston islands.
The magnetic survey consisted of 572 line-kilometres of UAV magnetics at a line spacing of 50 m. Flightlines were flown either southeast or northwest at an elevation of approximately 48 m above ground level. The survey effectively mapped magnetic variations corresponding to changes in lithology and alteration which assisted in drill targeting.
First Pass Drilling
Standard Uranium carried out two drill programs on the Project during the winters of 2022 and 2023. In total 2,469 m of diamond drilling was completed across fourteen drill holes (Figure 3).
Drilling focused on testing for zones of high-grade unconformity-related uranium mineralization with targets identified based on the ground gravity and UAV magnetic data, lakebed radiometric anomalies, and resistivity lows, all coincident with cross-cutting faults and historical surface mineralization. Several gravity low anomalies have been identified and coincide with breaks or flexures in electromagnetic conductors under Athabasca sandstone cover, interpreted to potentially represent zones of strong alteration in bedrock, specifically clay alteration, commonly associated with the footprint of high-grade uranium deposits.
The 2022 and 2023 diamond drill programs were successful in identifying key geological characteristics prospective for significant uranium mineralizing systems on the Project, which in turn will aid in planning and prioritization of additional exploration targets for follow-up drill programs.
Drilling highlights include5:
Widespread hydrothermal alteration zones containing illite-rich and dravitic clays and abundant iron-oxide minerals intersected in multiple drill holes, indicating a robust fluid system with prospective chemistry for uranium.
Significant structural influence evidenced to control high-grade uranium mineralization and anomalous radioactivity in drill holes.
Reactivated graphitic shear zones & quartz-hematite breccias intersected over 10s of metres in several drill holes indicate ideal structural regime providing the plumbing system for uranium mobilization.
Favorable geochemistry returned in multiple drill holes, including prospective clay spectroscopy results (dravite), elevated pathfinder elements, and anomalous uranium correlated to lead isotope ratios which may be used as an additional exploration vector.
Elevated radioactivity over a total of 1.5 metres up to 1,300 cps*** intersected in drill hole SD-23-013 at the Haven discovery. Assay highlights include 0.042 wt.% U308 from 79.0 to 79.5 m and 0.021 wt.% U308 from 79.5 to 80.0 m.
Historical and Standard Uranium Drill Holes with Target Areas on the Sun Dog Project
Figure 3. Historical and Standard Uranium Drill Holes with Target Areas on the Sun Dog Project
*The Company considers uranium mineralization with concentrations greater than 1.0 wt% U3O8 to be “high-grade”.
** The Company considers radioactivity readings greater than 300 counts per second (cps) to be “anomalous”.
***Natural gamma radiation in diamond drill core reported in this news release was measured in counts per second (cps) using a handheld RS-125 super-spectrometer and verified using a down-hole Mount Sopris 32GR slim gamma probe. The 32GR gamma probe has been calibrated to optimize the probe for uranium exploration logging and estimating weight percent U3O8 content. Readers are cautioned that scintillometer and gamma probe readings are not uniformly or directly related to uranium grades of the rock sample measured and should be treated only as a preliminary indication of the presence of radioactive minerals. All drill hole intersections are measured down-hole. Core interval measurements and true thicknesses are yet to be determined.
The scientific and technical information contained in this news release has been reviewed, verified, and approved by Sean Hillacre, P.Geo., President and VP Exploration of the Company and a “qualified person” as defined in NI 43-101.
Historical data disclosed in this news release relating to sampling results on the Sun Dog Project is historical in nature. Neither the Company nor a qualified person has yet verified this data and therefore investors should not place undue reliance on such data. The Company’s future exploration work will include verification of the data. The Company considers historical results to be relevant as an exploration guide and to assess the mineralization as well as economic potential of the Project.
About Standard Uranium (TSX-V: STND)
We find the fuel to power a clean energy future
Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in the world’s richest uranium district. The Company holds interest in over 209,867 acres (84,930 hectares) in the world-class Athabasca Basin in Saskatchewan, Canada. Since its establishment, Standard Uranium has focused on the identification, acquisition, and exploration of Athabasca-style uranium targets with a view to discovery and future development.
Standard Uranium has successfully completed four joint venture earn in partnerships on their Sun Dog, Canary, Atlantic and Ascent projects totaling over $31M in work commitments over the next three years from 2024-2027.
Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, comprises ten mineral claims over 30,737 hectares. Davidson River is highly prospective for basement-hosted uranium deposits due to its location along trend from recent high-grade uranium discoveries. However, owing to the large project size with multiple targets, it remains broadly under-tested by drilling. Recent intersections of wide, structurally deformed and strongly altered shear zones provide significant confidence in the exploration model and future success is expected.
Standard Uranium’s eight eastern Athabasca projects comprise thirty mineral claims over 32,838 hectares. The eastern basin projects are highly prospective for unconformity related and/or basement hosted uranium deposits based on historical uranium occurrences, recently identified geophysical anomalies, and location along trend from several high-grade uranium discoveries.
Standard Uranium's Sun Dog project, in the northwest part of the Athabasca Basin, Saskatchewan, is comprised of nine mineral claims over 19,603 hectares. The Sun Dog project is highly prospective for basement and unconformity hosted uranium deposits yet remains largely untested by sufficient drilling despite its location proximal to uranium discoveries in the area.
For further information contact:
Jon Bey, Chief Executive Officer, and Chairman
Suite 918, 1030 West Georgia Street
Vancouver, British Columbia, V6E 2Y3
Tel: 1 (306) 850-6699
E-mail: info@standarduranium.ca
References
Gunnar Uranium Mine: From Cold War Darling to Ghost Town, L. Schramm, Saskatchewan Research Council, 2018.
Geology and Genesis of Major World Hardrock Uranium Deposits, United States Geological Survey, Open-File Report 81-166, 1981.
2022 Winter Mineral Assessment Report, Sun Dog Property, Northern Saskatchewan, Canada, Standard Uranium, 2022
Information obtained from Saskatchewan Mineral Deposit Index, occurrence number 1254
Standard Uranium News Release, November 2, 2023
Cautionary Statement Regarding Forward-Looking Statements
This news release contains “forward-looking statements” or “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements include, but are not limited to, statements regarding: the timing and content of upcoming work programs; geological interpretations; timing of the Company’s exploration programs; and estimates of market conditions.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements are highlighted in the “Risks and Uncertainties” in the Company’s management discussion and analysis for the fiscal year ended April 30, 2023.
Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company’s actual financial results, performance, or achievements to be materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop forward-looking statements include, without limitation: that the transaction with the Optionee will proceed as planned; the future price of uranium; anticipated costs and the Company’s ability to raise additional capital if and when necessary; volatility in the market price of the Company’s securities; future sales of the Company’s securities; the Company’s ability to carry on exploration and development activities; the success of exploration, development and operations activities; the timing and results of drilling programs; the discovery of mineral resources on the Company’s mineral properties; the costs of operating and exploration expenditures; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); uncertainties related to title to mineral properties; assessments by taxation authorities; fluctuations in general macroeconomic conditions.
The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/786d0c9d-2c6f-47b9-b684-b63a493fb127
https://www.globenewswire.com/NewsRoom/AttachmentNg/4520e482-a137-41b0-b8df-6c5ce8dc0073
https://www.globenewswire.com/NewsRoom/AttachmentNg/b724b55c-4887-4a90-a854-164bd98b14a2
F3 Intersects Radioactivity Across Multiple Zones Uncovers Significant and Favorable Reverse Faulting at B1
https://www.newsfilecorp.com/release/205638
April 16, 2024 4:25 AM EDT | Source: F3 Uranium Corp.
Kelowna, British Columbia--(Newsfile Corp. - April 16, 2024) - F3 Uranium Corp (TSV: FUU) (OTCQB: FUUFF)
Myriad Uranium: Guided by Historical Data Trove, Myriad Acquires the 'Midnight Prospect' at Copper Mountain
https://www.newsfilecorp.com/release/205441
April 15, 2024 7:30 AM EDT | Source: Myriad Uranium Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 15, 2024) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that Myriad and its earn-in partner Rush Rare Metals Corp. ("Rush") have acquired by staking a new area identified in proprietary historical data as "The Midnight Prospect" or "Midnight" (see Figure 1 below). The historical data indicate that Midnight is highly prospective and may potentially contain up to 10 Mlbs eU3O8 according to earlier reports by Rocky Mountain Energy Corp ("RME"), a subsidiary of Union Pacific, and a map from a 1991 Anaconda report (see Figure 2 below). Rush's CEO Peter Smith recently visited the Midnight Prospect. A video of his visit can be viewed here.
Midnight aggregates 798 acres, and its acquisition increases the area subject to Myriad's 75% earnable interest under the property option agreement between Myriad and Rush (see Myriad's news release dated October 20, 2023 for further details) by 28%, from 2,807 acres to 3,605 acres.
Figure 1: Current Copper Mountain Project Area including the newly acquired Midnight Prospect
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6301/205441_f991f3c78498e935_002full.jpg
Previous work by RME (December 1979 report) indicated that both the granite and Tertiary sediments of the area are favourable source rocks from which uranium could be leached. Stream sediment sampling delineated several zones with anomalous uranium content that warrant further work. Structural preparation of the area is of a magnitude that would permit significant quantities of uranium to be leached, transported and concentrated in a reducing environment. Pyrite, the primary reducing agent for uranium, is present in most of the drill holes in the area and, along with the presence of hydrocarbons, indicates that an adequate reducing environment existed to precipitate uranium.
Initial drilling by RME intercepted trace to very low-grade mineralization; however only a very small portion of the Midnight Fault zone has been tested. The structural preparation, oxidation/alteration profile and presence of adequate reductant should be considered favourable elements for Canning-type mineralization, which RME concluded could represent a target of up to 10 million pounds eU3O8.
Figure 2: Midnight claims (red rectangle) on a map from a 1991 Anaconda report indicating the Midnight Prospect, which potentially contains up to 10 Mlbs eU3O8. (Confidential information redacted.).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6301/205441_f991f3c78498e935_003full.jpg
Myriad's CEO, Thomas Lamb, commented, "Midnight is the latest in a series of expansions we have planned, guided by our proprietary non-digital historical data set which indicates an array of uranium deposits and prospects in the Copper Mountain district. This data set was the product of C$117 million (2023$) in spending by Union Pacific in the 1970s. They drilled around 2,000 boreholes at Copper Mountain, discovering at least six uranium deposits and a significant number of highly prospective targets which they were not able to follow up. They believed just two of the six or more uranium deposits they identified at Copper Mountain have the potential to host up to 63.8 Mlbs of uranium. The potential of the entire district could be significantly greater."
Mr. Lamb continued, "Union Pacific did conduct surface work and limited drilling at Midnight but their resource estimates of between 15 and 30 million pounds for the Copper Mountain area, which we published in November 2023, did not take Midnight into account. Instead, Midnight was slated for future exploration and verification, but this was cut short by fast-falling uranium prices after 1979's Three Mile Island. The uranium-bearing structures at Copper Mountain were quite well understood by Union Pacific and we believe that they had a strong basis for their assessment of Midnight's potential. In a recent news release we discussed 82 historical boreholes at the "High Grade Area" within the Canning Deposit at Copper Mountain. The insights from those holes, and the very long mineralised intercepts encountered there of up to 291 feet and high grades up to 3,850 ppm, bolster our confidence that we can pursue high grades and big volumes across Copper Mountain, including Midnight and many other new areas, not just the areas Union Pacific included in its resource estimates that we previously reported. Union Pacific was only just starting to concern itself with the high grade in the structures when they paused. We're now going to really focus on them and look for high grade deeper than they did, since they never drilled deeper than roughly 183 metres. There is much more to come. Please stay tuned."
A qualified person (as defined under NI 43-101) has not done sufficient work to classify the historical target estimates reported in this news release as current mineral resources or mineral reserves, and Myriad is not treating the historical target estimates as current mineral resources or mineral reserves. In particular, the Company considers that insufficient work has been done to estimate a resource at the Midnight property and the potential cannot be relied upon until further work is done.
Qualified Person
The scientific or technical information in this news release respecting the Company's Copper Mountain Project has been approved by George van der Walt, MSc., Pr.Sci.Nat., MGSSA, a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. It is based on the Qualified Person's initial review of historical reports which were recently obtained by the Company. The Qualified Person considers the information to be relevant based on the amount and quality of work undertaken and reported historically. However, the information did not include original data such as drilling records, sampling, analytical or test data underlying the information or opinions contained in the written documents. Therefore, the Qualified Person has not reviewed or otherwise verified the information and has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves. A more thorough review of any available original data will be undertaken and reported on in more detail in future releases.
About Myriad Uranium Corp.
Myriad Uranium Corp. is a uranium exploration company with an earnable 75% interest in the Copper Mountain Uranium Project in Wyoming, USA. Copper Mountain hosts several known uranium deposits and historic uranium mines, including the Arrowhead Mine which produced 500,000 lbs of eU3O8. Copper Mountain saw extensive drilling and development by Union Pacific, which developed a mine plan and built a leach pad for one of the deposits at Copper Mountain. Operations ceased in 1980 before mining could commence due to falling uranium prices. Approximately 2,000 boreholes have been drilled at Copper Mountain and the project area has significant exploration upside. Union Pacific is estimated to have spent C$117 million (2023 dollars) exploring and developing Copper Mountain, generating significant historical resource estimates which are detailed here.
Myriad also holds 80% ownership of over 1,800 km2 of uranium exploration licenses in the Tim Mersoi¨ Basin, Niger, with the option to earn up to 100%. These licenses are surrounded by many of the most significant uranium deposits in Africa, including Orano's 384 Mlbs eU3O8 Imouraren, Global Atomic's 236 Mlbs Dasa, and Goviex's 100 Mlbs Madaouela, and on the same fault structures. Myriad also has a 50% interest in the Millen Mountain Property in Nova Scotia, Canada, with the other 50% held by Probe Metals Inc. For further information, please refer to Myriad's disclosure record on SEDAR+ (www.sedarplus.ca), contact Myriad by telephone at +1.604.418.2877, or refer to Myriad's website at www.myriaduranium.com.
Recent interviews with Crux Investor and VSA are here and here. A video overview of the Copper Mountain Project is here.
Myriad Contacts:
Thomas Lamb
President and CEO
tlamb@myriaduranium.com
Forward-Looking Statements
Mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company's properties. This news release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of the Company's mineral properties, the proposed work program on the Company's mineral properties and the potential and economic viability of the Company's mineral properties. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
The CSE has not reviewed, approved or disapproved the contents of this news release.
SOURCE: Myriad Uranium Corp.
Forum Energy: Ambient Noise Tomography Survey Establishes New Drill Targets over 1+ km Extension Along the Tatiggaq Fault Zone, Aberdeen Uranium Project, Nunavut
https://www.newsfilecorp.com/release/205494
April 15, 2024 7:00 AM EDT | Source: Forum Energy Metals Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 15, 2024) - Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") has reviewed initial data processed from its Ambient Noise Tomography (ANT) survey conducted over the Tatiggaq anomaly during the summer of 2023, The survey successfully established new drill targets over a one plus kilometer east-northeast extension along the Tatiggaq fault zone, which hosts the high-grade Tatiggaq uranium discovery at Forum's 100% owned Aberdeen Project in the Thelon Basin, Nunavut. The Aberdeen project comprises 95,500 hectares and is located adjacent to Orano's 133 million pound Kiggavik uranium project* (Figure 1).
Dr. Rebecca Hunter, Forum's VP, Exploration commented, "The ANT survey may be a game-changing geophysical method for targeting unconformity systems in the northeast Thelon Basin. By measuring the velocity change interfaces throughout our anomalies, we can potentially image the faults that host the mineralization and the location of the mineralized bodies themselves. The survey results obtained suggest we will be able to target our drilling with a much higher degree of precision than what could be done in the past. I am very excited to resume on our Aberdeen Project in 2024."
HIGHLIGHTS
New ANT survey data has potentially imaged the depth and location of the metasedimentary bodies that host the mineralization.
The steep-dipping ore controlling structures have been imaged by the ANT survey and will help greatly with targeting throughout the anomaly both along strike but also along sub-parallel structures.
The ANT survey suggests that potential additional mineralized bodies to the east-northeast are at similar depth to the known mineralization to date (<200 m).
ANT surveys were also conducted on both the Ned and Bjorn anomalies and are currently being processed with results expected by June.
Tatiggaq Deposit
Forum drilled four holes in 2023 and the first two holes targeted the Tatiggaq Main area. The objective was to drill through to main mineralized zone at a more optimal angle and show that the mineralization is within a series of steep-dipping, high-grade lenses. TAT23-001 was lost and TAT23-002 intersected 2.25% U3O8 over 11.1 from 148.5 to 159.6 m (incl. 3.32% U3O8 over 3.1 m). TAT23-003 and TAT23-004 were drilled along trend to the SW up to 200 m from TAT23-001/-002. These holes were designed to infill and expand known areas of mineralization at Tatiggaq West. TAT23-003 intersected 0.40% U3O8 over 12.8 m from 136.0 to 148.8 m (incl. 1.08% U3O8 over 1.3 m) and TAT23-004 intersected 0.40% U3O8 over 18.9 m from 151.4 to 170.3 m (incl. 1.01% U3O8 over 6.2 m).
Mineralization within the Tatiggaq deposit consists of two zones - the Main and West Zones and is located at depths between 80 and 180 m. The mineralization is hosted in a series of high-grade subparallel, steep, south-dipping fault zones that sit within a 50 m wide area (Figure 2). Individual high-grade mineralized structures are up to 10 m in width. The strike extent of the Main Zone is at least 60 m but is open to the northeast and the West Zone is now 150 m in strike length and is open to the southwest. Further delineation is required between the two zones to determine if they are connected. In addition, the entire 0.7 km wide by 1.5 km long Tatiggaq gravity anomaly remains open for additional uranium mineralization both along strike of the known zones but also along numerous sub-parallel fault zones to the north and south.
Ambient Noise Tomography Survey (ANT)
The ANT survey is a passive seismic technique that detects seismic waves by natural sources like ocean wave action that is then used to image the subsurface.
In 2023, Patterson Geophysics Inc. (PGI) was contracted to deploy and recover a total of 475 seismic 1D Nodular Recording Units (NRUs) over the Tatiggaq (Figure 3), Ned and Bjorn grids. Geophysical Technology Inc. NuSeis NRUN1 autonomous seismic nodal recording units were used for the survey. In total, 475 NRUs were deployed in three (3) grid areas on the Aberdeen Project in July 2023. 344 NRUs were deployed on the Tatiggaq grid at 60 m intervals; 77 NRUs were deployed on the Ned grid at 150 m intervals, and 54 NRUs were deployed on the Bjorn grid at 150 m intervals. The PGI crew returned to the Thelon project to retrieve the NRUs after a recording period of 24-26 days. The data was downloaded from the NRUs using GTI's Portable Data Management system and a GTI-supplied laptop with NuSite, NuSeis, and NuScribe software.
Ongoing data processing is being completed by Ambient Reservoir Monitoring Inc. (ARM) through the direction of Kyle Patterson at Convolutions Geoscience. A preliminary 3D slice of the processed velocity data is shown for the Tatiggaq Grid (Figure 4).
*Source: Areva Resources Canada Inc., The Kiggavik Project, Project Proposal, November 2008 and Kiggavik Popular Summary, April, 2012 submission to the Nunavut Impact Review Board.
Rebecca Hunter, Ph.D., P.Geo., Forum's Vice President of Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.
Figure 1 The Thelon Basin is a geologic analogue to the Athabasca Basin in Saskatchewan. Orano's uranium deposits are along the same controlling structures as Forum's Tatiggaq deposit and over 20 other targets are present within the project, which could host additional uranium deposits similar to the Athabasca Basin.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/205494_6b28dec534900b7c_003full.jpg
Figure 2 The Tatiggaq Main and West zones are interpreted to be a series of near vertical, uranium- bearing lenses that trend for 1.5 km. The width of the mineralized section is interpreted to be approximately 50 m but its total width is not yet determined. TAT23-002 only intersected two of these lenses that were intersected in near vertical holes by Cameco's previous drilling (for example 0.85% over 13.7m in hole TUR14A). Proposed future drill holes will target mineralization to intersect the true width of the zone and its strike extent.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/205494_6b28dec534900b7c_004full.jpg
Figure 3 Location of Nodular Recording Units deployed at the Tatiggaq Grid.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/205494_6b28dec534900b7c_005full.jpg
Figure 4 ENE-WSW section through the Tatiggaq Grid showing the ANT processed 3D velocity data. Data viewed in Leapfrog Geo. Velocity data highlights steep NW-trending faults and changes in velocity are possible interfaces of different alteration strengths and/or rock units. Interpretation is still preliminary.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/205494_6b28dec534900b7c_006full.jpg
About Forum Energy Metals
Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. In addition, Forum holds a diversified energy metal portfolio of copper, nickel, and cobalt projects in Saskatchewan and Idaho.
For further information: https://www.forumenergymetals.com.
This press release contains forward-looking statements. Forward-Looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Forward-Looking information is subject to known and unknown risks, uncertainties and other factors that may cause Forum's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the historical data, the work expenditure commitments; the ability to raise sufficient capital to fund future exploration or development programs; changes in economic conditions or financial markets; changes commodity prices, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or an inability to obtain permits required in connection with maintaining or advancing its exploration projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Richard J. Mazur, P.Geo.
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
Rick Mazur, P.Geo., President & CEO
mazur@forumenergymetals.com
Tel: 604-630-1585
SOURCE: Forum Energy Metals Corp.
Green Shift Closes Previously Announced Sale of the Berlin Project, Colombia
https://ca.finance.yahoo.com/news/green-shift-closes-previously-announced-110000127.html
Green Shift Commodities Ltd.
Tue, April 9, 2024 at 4:00 a.m. PDT·4 min read
GRCMF
0.00%
TORONTO, April 09, 2024 (GLOBE NEWSWIRE) -- Green Shift Commodities Ltd. (TSXV: GCOM and OTCQB: GRCMF), (“Green Shift”, “GCOM” or the “Company”) is pleased to announce that it has closed the previously announced (see previous press release dated December 11, 2023), sale (the “Transaction”) of its Berlin Project (“Berlin” or the “Project”) located in Caldas, Colombia to Jaguar Uranium Corp. (formally Latam Battery Metals Inc.) (“Jaguar”). Jaguar is an arm’s length privately-held company focused on the uranium sector with strong operating experience in Colombia and intends to pursue a listing on a recognized stock exchange in North America (the “Listing”) in the coming months.
Trumbull Fisher, CEO and Director of GCOM, commented, “We are pleased to complete this transaction which offers GCOM several benefits. Firstly, with multiple lithium exploration opportunities, our portfolio now appropriately reflects our exploration focus and technical expertise in Canada and Argentina. Secondly, our equity position in Jaguar complements our basket of uranium holdings which includes IsoEnergy Ltd., Atha Energy Corp., and Premier American Uranium Inc., offering significant leverage as the sector’s momentum continues. Finally, as a result of offsetting the liabilities and taxes associated with Berlin and future cash payments as the Project is advanced, we now have an improved and strengthened balance sheet to continue advancing our projects and assessing additional strategic opportunities.”
Mr. Fisher, continued, “As a significant shareholder of Jaguar, we look forward to the Listing and remain committed to the Project’s advancement, which we believe has the potential to unlock significant value for our collective shareholders.”
Luis Ducassi, CEO of Jaguar, commented, “We believe Berlin is an exceptional asset and we are excited to utilize our in-country and capital markets expertise to advance the Project through a new and dedicated vehicle as sentiment for uranium grows. We thank the GCOM team for their invaluable support and anticipate further collaboration as we advance the Project. Additionally, we welcome Trumbull to our board and look forward to leveraging his expertise.”
Pursuant to the share purchase agreement between GCOM and Jaguar dated December 8, 2023 (the “Agreement”), Jaguar has acquired 100% of the issued and outstanding shares (the “Target Shares”) of two wholly-owned subsidiaries of GCOM, which together hold indirectly a 100% interest in the Project for consideration comprised of:
(i)
CDN$20,000 in cash;
(ii)
1,211,687 common shares of Jaguar (“Jaguar Shares”), representing 20% of the current outstanding Jaguar Shares; and
(iii)
a 1% NSR royalty payable on all production from the Property.
In addition, effective as of closing of the Transaction, Trumbull Fisher, CEO and Director of GCOM has been appointed to the Jaguar board of directors.
GCOM is also entitled to receive additional consideration upon the satisfaction of certain milestones as follows:
(a)
On the earlier of (i) 90 days after the date on which the Project has been brought into good standing, and (ii) five days following completion of the Listing, CDN$1,000,000 in cash;
(b)
Upon completion of the Listing, either (i) assuming the Listing is completed within 12 months following the Closing, the greater of (1) such number of additional Jaguar Shares that would result in GCOM owning 20% of the number of post-Listing Jaguar Shares; and (2) such number of additional Jaguar Shares with a value of CDN$5,000,000, in each case at a deemed price per share equal to the Listing price; or (ii) assuming the Listing is not completed within 12 months following Closing, the greater of (1) such number of additional Jaguar Shares that would result in GCOM owning 25% of the number of post-Listing Jaguar Shares; and (2) such number of additional Jaguar Shares with a value of CDN$6,000,000, in each case at a deemed price per share equal to the Listing price; and
(c)
As soon as practicable, and in any event within 30 days, after the date that Jaguar achieves commercial production of uranium ore from the Property, CDN$5,000,000 in cash.
From the date of closing the Transaction until such time as all the Consideration has been paid, Jaguar has agreed not to transfer any interest in the Target Shares or the Property without the prior written consent of GCOM, which consent may be withheld, conditioned or delayed in the sole discretion of GCOM.
GCOM issued 3,333,333 common shares to Generic Capital Corp. as compensation for advisory services in connection with the Transaction.
About Green Shift Commodities Ltd.
Green Shift Commodities Ltd. is focused on the exploration and development of commodities needed to help decarbonize and meet net-zero goals. The Company is advancing a portfolio of lithium prospects across the Americas. This includes the Rio Negro Project, a district-scale project in an area known to contain hard rock lithium pegmatite occurrences that were first discovered in the 1960s, yet largely underexplored since and the Santiago Luis Lithium Project, both located in Argentina. The Company is also exploring the Armstrong Project, located in the Seymour-Crescent-Falcon lithium belt in northern Ontario, known to host spodumene-bearing lithium pegmatites and significant discoveries.
For further information, please contact:
Green Shift Commodities Ltd.
Trumbull Fisher
Director and CEO
Email: tfisher @optomam
Website: www.greenshiftcommodities.comTwitter: @greenshiftcom
LinkedIn: https://www.linkedin.com/company/greenshiftcommodities/
Forward-Looking Statements
This news release includes certain “forward looking statements”. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intentions for the future, and include, but not limited to, statements with respect to: the future direction of the Company’s strategy; the expected benefits from completion of the Transaction; the Listing; and other activities, events or developments that are expected, anticipated or may occur in the future. These statements are based on assumptions, including that: (i) expectations and assumptions concerning the Transaction; (ii) actual results of exploration, resource goals, metallurgical testing, economic studies and development activities will continue to be positive and proceed as planned, (iii) requisite regulatory and governmental approvals will be received on a timely basis on terms acceptable to Green Shift (iv) economic, political and industry market conditions will be favourable, and (v) financial markets and the market for uranium, battery commodities and rare earth elements will continue to strengthen. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such statements, including, but not limited to: (1) the failure to satisfy the conditions to completion of the arrangement, (2) changes in general economic and financial market conditions, (3) changes in demand and prices for minerals, (4) the Company’s ability to source commercially viable reactivation transactions and/or establish appropriate joint venture partnerships, (5) litigation, regulatory, and legislative developments, dependence on regulatory approvals, and changes in environmental compliance requirements, community support and the political and economic climate, (6) the inherent uncertainties and speculative nature associated with exploration results, resource estimates, potential resource growth, future metallurgical test results, changes in project parameters as plans evolve, (7) competitive developments, (8) availability of future financing, (9) the effects of COVID-19 on the business of the Company, including, without limitation, effects of COVID-19 on capital markets, commodity prices, labour regulations, supply chain disruptions and domestic and international travel restrictions, (10) exploration risks, and other factors beyond the control of Green Shift including those factors set out in the “Risk Factors” in our Management Discussion and Analysis dated May 1, 2023 for the fiscal year ended December 31, 2022 and other public documents available under the Company’s profile on SEDAR+ at www.sedarplus.ca.Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Green Shift assumes no obligation to update such information, except as may be required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Standard Uranium Intersects Anomalous Radioactivity, Prospective Structure and Alteration in Multiple Drill Holes at Atlantic Project; Concludes Inaugural Drill Program
https://ca.finance.yahoo.com/news/standard-uranium-intersects-anomalous-radioactivity-110000866.html
Standard Uranium Ltd.
Thu, April 11, 2024 at 4:00 a.m. PDT·9 min read
STTDF
-4.36%
VANCOUVER, British Columbia, April 11, 2024 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU)
Anfield Energy Achieves Significant Milestone to Recommence Uranium Production at Shootaring as the Company Submits its Mill Reactivation Plan to the State of Utah, Which Includes a Tripling of Licensed Production Capacity
https://ca.finance.yahoo.com/news/anfield-energy-achieves-significant-milestone-110000641.html
Anfield Energy Inc.
Tue, April 9, 2024 at 4:00 a.m. PDT·12 min read
ANLDF
-1.33%
VANCOUVER, British Columbia, April 09, 2024 (GLOBE NEWSWIRE) -- Anfield Energy, Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (
Strathmore Finalizes Agate Permit for 200 Hole Drilling Program
https://www.newsfilecorp.com/release/204882
April 10, 2024 7:00 AM EDT | Source: Strathmore Plus Uranium Corp.
Kelowna, British Columbia--(Newsfile Corp. - April 10, 2024) - Strathmore Plus Uranium Corporation (TSX: SUU) (OTCQB: SUUFF) ("Strathmore" or "the Company") is pleased to announce we are planning a 200-hole drill program in 2024 for Agate totaling 30,000 feet. The active drill permit has been amended and sent to state and federal regulators with exploration planned to begin in spring upon approval of proposed permit amendments.
Mr. Terrence Osier, VP Exploration of Strathmore said "During our Phase 1 drill program in 2023, we successfully discovered uranium roll front mineralization saturated with groundwater at shallow depths, from 80 to 150 feet deep, confirming the available historical data. The 2024 drill targets are planned this year to extend the discovered roll front into untested ground, in addition to other targets across the Project. One of these targets lies a mile south of the area we drilled in 2023, including historic intercepts of 4 feet of 0.35% eU3O8 from 85 to 89 feet (hole KM-23-119) and 7 feet of 0.062% eU3O8 from 87 to 94 feet (hole KM-15-138). Strathmore intends to subcontract with the same drilling contractor and geophysical logger as was used in 2023- Single Water Services, Hawkins CBM Logging."
Strathmore is very encouraged by UR-Energy's announcement last month to begin construction of a satellite in-situ operation at their nearby Shirley Basin Project, located 6 miles from Agate. We look forward to advancing our working agreement with UR-Energy which should result in shorter lead times and lower costs for developing and operating an in-situ operation at Agate. In addition to exploring Agate, we plan to drill this summer at our Beaver Rim Project in the Gas Hills Uranium District.
About the Agate Property
The Agate property consists of 52 wholly owned lode mining claims covering 1,075 acres. The uranium mineralization is contained in classic Wyoming-type roll fronts within the Eocene Wind River Formation, an arkosic-rich sandstone. Historically, 55 million pounds of uranium were mined in Shirley Basin, including from open-pit, underground, and the first successful in-situ recovery operation in the USA during the 1960s. At the property, the uranium mineralization is shallow, from 15 to approximately 150 feet deep, much of which is below the water table and likely amenable to in-situ recovery.
The Project was previously explored by Kerr-McGee Corporation in the 1970s, which was the largest producer of uranium in the United States, including from their Shirley Basin deposits. Other uranium companies in the basin include Cameco, enCore Energy, UR Energy, and UEC, whose claims border the Agate property. Available Kerr-McGee historical drill results from the Wyoming Geological Survey include drill hole location maps and 330 geophysical logs which have been digitized and reinterpreted for entry into a modern, verifiable database. In 2023, Strathmore completed 100 drill holes on the Project, confirming the historical drill results. The exploratory drilling targeted the Lower "A" sand of the Eocene Wind River Formation, an arkosic-rich sandstone which is noted for its high porosity, permeability, and groundwater transmissivity.
About Strathmore Plus Uranium Corp.
Strathmore has three permitted uranium projects in Wyoming, including Agate, Beaver Rim, and Night Owl. The Agate and Beaver Rim properties contain uranium in typical Wyoming-type roll front deposits based on historical drilling data. The Night Owl property is a former producing surface mine that was in production in the early 1960s.
Cautionary Statement: "Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release".
Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Strathmore Plus Uranium Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Strathmore Plus Uranium Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Terrence Osier, P.Geo., Vice President, Exploration of Strathmore Plus Uranium Corp., a Qualified Person.
Strathmore Plus Uranium Corp.
Contact Information:
Investor Relations
Telephone: 1 888 882 8177
Email: info@strathmoreplus.com
ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Strathmore Plus Uranium Corp.
Standard Uranium Provides Exploration Activities Update on the Canary Project, Eastern Athabasca Basin
https://ca.finance.yahoo.com/news/standard-uranium-provides-exploration-activities-110000854.html
Standard Uranium Ltd.
Mon, April 8, 2024 at 4:00 a.m. PDT·5 min read
STTDF
-4.36%
VANCOUVER, British Columbia, April 08, 2024 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to provide an update on exploration activities planned for the 7,302-hectare Canary Project (“Canary” or “the Project”) currently under a three-year earn-in option agreement (the “Option Agreement”) with Mamba Exploration Limited (“Mamba”). Pursuant to the Option Agreement, Mamba has been granted an option (the “Option”) to earn a 75% interest in the Project by funding $6M in exploration expenditures over three years, with the inaugural drill program planned for spring 2024.
The Company is pleased to announce that planning for the inaugural drill program on the Project is nearing completion with the engagement of key vendors for the planned Spring/Summer exploration program at the Project, situated in the prolific eastern Athabasca Basin.
Highlights:
Key Vendors Secured: The Company has engaged drill and helicopter contractors for the inaugural Spring 2024 drill program slated to begin early-May.
Robust & Shallow Drill Targets: Drill plans comprise helicopter-supported diamond drilling focused on high-priority unconformity-related uranium targets refined by geophysical work completed by the Company in 2022. Ideal unconformity target zones on the Project lie within approximately 200-300 metres below surface.
Fully Funded: Mamba has secured funding for the inaugural drill program at Canary on the east side of the Basin, contributing towards year-one expenditure requirements under the Option Agreement.
“Our exploration thesis and targeting strategy in eastern Athabasca uranium district had been bolstered by the high-quality geophysical surveys and interpretations we have completed in preparation for this inaugural program,” said Sean Hillacre, President & VP Exploration for the Company. “Our technical team and partners at Mamba are excited to begin drilling the robust targets identified on Canary for the first time, exploring for shallow high-grade1 unconformity-related uranium mineralization.”
The Company considers uranium mineralization with concentrations greater than 1.0 wt% U3O8 to be “high-grade”.
“The northeast portion of the eastern Athabasca Basin remains comparatively underexplored in terms of drilling. Immediately to the south of the Project, in the greater well-explored eastern-Athabasca region, the drilling density is roughly 1.7 drill holes per square-km. The Canary project contains two main conductive corridors, yet only contains three historical drill holes, or a drilling density of 0.04 drill holes per square-km,” stated Neil McCallum, Technical Director of Standard Uranium. “I am incredibly enthusiastic to have our inaugural drilling beginning soon, after several years of methodical targeting work.”
Overview of Standard Uranium’s northeastern Athabasca Basin projects, highlighting the Canary Project.
Figure 1. Overview of Standard Uranium’s northeastern Athabasca Basin projects, highlighting the Canary Project.
Inaugural 2024 Drill Program
The Company’s Canary project is situated in the Mudjatik geological domain where several recent discoveries have been made, including IsoEnergy’s Hurricane deposit 11 km directly to the south, and is significantly underexplored relative to adjacent magnetic low/electromagnetic (‘EM’) conductor corridors. Drill targets are being prioritized on the Canary claims based on historic exploration and geophysical surveys completed in 2022 (Figure 2).
Geophysical map and schematic cross-section A-A’ highlighting basement-linked resistivity anomalies identified through the 2022 DC/IP survey on the...
Figure 2. Geophysical map and schematic cross-section A-A’ highlighting basement-linked resistivity anomalies identified through the 2022 DC/IP survey on the Canary Project. General drill target areas are circled in red. Local exploration trends and historical drilling are also displayed with first vertical derivative magnetics in the background.
The Company completed a high-resolution ground DC/IP survey on the project in 2022, providing valuable structural and lithological information in the area to identify conductive bodies and potential fault systems. Significant resistivity-low anomalies are present along the northern conductor on the project, potentially representing substantial hydrothermal alteration zones in the sandstone and proximal to basement conductors.
Additionally, legacy GeoTEM data defining the southeastern EM corridor on the project is directly comparable to the response and scale of the GeoTEM conductor which hosts the Roughrider/J-zone uranium deposits futher to the south. Highly anomalous geochemistry and favorable alteration was returned from historical drill hole CRK-137 along the southeastern conductor, providing an exceptional follow-up target. The project is drill-ready with multiple overlapping geophysical anomalies having been identified on the property, coinciding with previously identified conductive corridors and anomalous historical drill results.
The scientific and technical information contained in this news release has been reviewed, verified, and approved by Sean Hillacre, P.Geo., President and VP Exploration of the Company and a “qualified person” as defined in NI 43-101.
About Standard Uranium (TSX-V: STND)
We find the fuel to power a clean energy future
Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in the world’s richest uranium district. The Company holds interest in over 209,867 acres (84,930 hectares) in the world-class Athabasca Basin in Saskatchewan, Canada. Since its establishment, Standard Uranium has focused on the identification, acquisition, and exploration of Athabasca-style uranium targets with a view to discovery and future development.
Standard Uranium has successfully completed four joint venture earn in partnerships on their Sun Dog, Canary, Atlantic and Ascent projects totaling over $31M in work commitments over the next three years from 2024-2027.
Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, comprises ten mineral claims over 30,737 hectares. Davidson River is highly prospective for basement-hosted uranium deposits due to its location along trend from recent high-grade uranium discoveries. However, owing to the large project size with multiple targets, it remains broadly under-tested by drilling. Recent intersections of wide, structurally deformed and strongly altered shear zones provide significant confidence in the exploration model and future success is expected.
Standard Uranium’s eight eastern Athabasca projects comprise thirty mineral claims over 32,838 hectares. The eastern basin projects are highly prospective for unconformity related and/or basement hosted uranium deposits based on historical uranium occurrences, recently identified geophysical anomalies, and location along trend from several high-grade uranium discoveries.
Standard Uranium's Sun Dog project, in the northwest part of the Athabasca Basin, Saskatchewan, is comprised of nine mineral claims over 19,603 hectares. The Sun Dog project is highly prospective for basement and unconformity hosted uranium deposits yet remains largely untested by sufficient drilling despite its location proximal to uranium discoveries in the area.
For further information contact:
Jon Bey, Chief Executive Officer, and Chairman
Suite 918, 1030 West Georgia Street
Vancouver, British Columbia, V6E 2Y3
Tel: 1 (306) 850-6699
E-mail: info@standarduranium.ca
Cautionary Statement Regarding Forward-Looking Statements
This news release contains “forward-looking statements” or “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements include, but are not limited to, statements regarding: the timing and content of upcoming work programs; geological interpretations; timing of the Company’s exploration programs; and estimates of market conditions.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements are highlighted in the “Risks and Uncertainties” in the Company’s management discussion and analysis for the fiscal year ended April 30, 2023.
Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company’s actual financial results, performance, or achievements to be materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop forward-looking statements include, without limitation: that the transaction with the Optionee will proceed as planned; the future price of uranium; anticipated costs and the Company’s ability to raise additional capital if and when necessary; volatility in the market price of the Company’s securities; future sales of the Company’s securities; the Company’s ability to carry on exploration and development activities; the success of exploration, development and operations activities; the timing and results of drilling programs; the discovery of mineral resources on the Company’s mineral properties; the costs of operating and exploration expenditures; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); uncertainties related to title to mineral properties; assessments by taxation authorities; fluctuations in general macroeconomic conditions.
The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9935a4ee-8bd4-46da-8d86-22e3c75b9882
https://www.globenewswire.com/NewsRoom/AttachmentNg/3fc4756e-6448-48d5-b8e0-4f445d0a866b
Oberon Uranium Closes Acquisition of Mineral Claims in Saskatchewan
https://www.newsfilecorp.com/release/204584
April 05, 2024 7:00 PM EDT | Source: Oberon Uranium Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 5, 2024) - OBERON URANIUM (CSE: OBRN) ("Oberon" or the "Company") is pleased to announce that it has closed its previously announced acquisition of three mineral claims totalling 365 hectares in Saskatchewan, Canada pursuant to a share purchase agreement dated March 28, 2024 (the "SPA") with Carbon Markets Inc. ("Carbon") and the Carbon shareholders (see Oberon's news release dated April 1, 2024 for further details).
Pursuant to the SPA, to acquire all of the issued and outstanding Carbon shares from the Carbon shareholders, Oberon issued an aggregate of 17,600,000 Class A common shares of Oberon (the "Consideration Shares") to the Carbon shareholders. The Consideration Shares were issued in accordance with applicable securities legislation and are subject to a hold period that will expire on August 6, 2024. The transaction is an arms-length transaction and does not constitute a fundamental change or result in a change of control of the Company, within the meaning of the policies of the CSE.
About the Company
Oberon Uranium Corp. is a mineral exploration company with a 100% interest in the past producing Lucky Boy Uranium Property located in Arizona, USA. Oberon also owns a 100% interest in the Fusion Uranium Zone Project located in the Athabasca Region of Saskatchewan, Canada. For further information, please refer to the Company's disclosure record on SEDAR+ (www.sedarplus.ca) or contact the Company by email at info@oberonuranium.com.
On Behalf of the Board of Directors
"Lawrence Hay"
President and CEO
Tel: 778.317.8754
Email: info@oberonuranium.com
Forward-Looking Information
Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The CSE has not reviewed, approved or disapproved the contents of this news release.
SOURCE: Oberon Uranium Corp.
Atha Energy Announces Closing of 92 Energy Scheme
https://ca.finance.yahoo.com/news/atha-energy-announces-closing-92-034800923.html
ATHA Energy Corp.
Wed, April 10, 2024 at 8:48 p.m. PDT·8 min read
SASKF
-1.60%
VANCOUVER, British Columbia, April 10, 2024 (GLOBE NEWSWIRE) -- ATHA Energy Corp. (TSXV: SASK) (FRA: X5U) (OTCQB: SASKF) (“ATHA”) is pleased to announce the successful completion of the previously announced Australian scheme (the “Scheme”) involving ATHA and 92 Energy Limited (ASX: 92E) (“92 Energy”) pursuant to which ATHA has acquired all of the fully paid ordinary shares in 92 Energy (the “92 Energy Shares”).
SCHEME CONSIDERATION
Pursuant to the Scheme, shareholders of 92 Energy (the “92 Energy Shareholders”) who hold 92 Energy Shares as at 4:00 p.m. (AWST) on April 4, 2024 (the “Record Date”), will receive 0.5834 ATHA common shares (each, an “ATHA Share”) per 92 Energy Share held (the “Scheme Consideration”) (other than ineligible foreign holders and Electing Selling Scheme Participants (as defined below) who made a valid election to participate in the Sale Facility (as defined below) (the “Electing Selling Scheme Participants”)). In the aggregate, ATHA issued 64,101,404 ATHA Shares under the Scheme.
Ineligible foreign holders and Electing Selling Scheme Participants will have the Scheme Consideration that they would have otherwise been entitled to receive issued to a sale agent, who will sell those ATHA Shares at such price and on such other terms as the sale agent determines in good faith, within a reasonable timeframe and in any event not more than 20 trading days (on which ATHA Shares are capable of being traded on the TSX Venture Exchange (the “TSXV”)) after April 11, 2024 (being the implementation date of the Scheme). The sale agent will then pay the total proceeds of those sales of ATHA Shares (after deducting any applicable fees, foreign exchange, stamp duty, brokerage and other selling costs, taxes and charges of the sale agent and after having converted such proceeds into Australian currency) to ATHA (or its agent), who will then remit to each such shareholder their proportion of the aggregate net sale proceeds (in Australian dollars) in accordance with the terms of the Scheme (the “Sale Facility”).
In connection with the closing of the Scheme, trading in 92 Energy Shares on the Australian Securities Exchange (the “ASX”) was suspended at the closing of trading on March 28, 2024. An application has been made to remove 92 Energy from the official list of ASX, which is expected to take effect on and from the close of trade on April 12, 2024.
For additional information on the Scheme, please refer to ATHA’s news releases dated December 7, 2023, and January 25, 2024, March 25, 2024, and March 27, 2024.
Board of Directors and Management
ATHA’s board of directors now consists of six directors, including Mike Castanho (Chair), Doug Engdahl, Sean Kallir, Jeff Barber, Phil Williams, and Richard Pearce.
About ATHA
ATHA is a Canadian mineral company engaged in the acquisition, exploration, and development of uranium assets in the pursuit of a clean energy future. With a strategically balanced portfolio including three 100%-owned post discovery uranium projects (the Angilak Project located in Nunavut, and CMB Discoveries in Labrador, hosting historical resource estimates of 43.3 million lbs and 14.5 million lbs U3O8 respectively, and the newly discovered basement hosted GMZ high-grade uranium discovery located in the Athabasca Basin). In addition, the Company holds the largest cumulative prospective exploration land package (8.1 million acres) in two of the world’s most prominent basins for uranium discoveries - ATHA is well positioned to drive value. ATHA also holds a 10% carried interest in key Athabasca Basin exploration projects operated by NexGen Energy Ltd. and IsoEnergy Ltd. For more information visit www.athaenergy.com. 1,2,3
For more information, please contact:
Troy Boisjoli
Chief Executive Officer
Email: info@athaenergy.com
www.athaenergy.com
Historical Mineral Resource Estimates
All mineral resources estimates presented in this news release are considered to be “historical estimates” as defined under NI 43-101, and have been derived from the following (See notes below). In each instance, the historical estimate is reported using the categories of mineral resources and mineral reserves as defined by the CIM Definition Standards for Mineral Reserves, and mineral reserves at that time, and these “historical estimates” are not considered by ATHA to be current. In each instance, the reliability of the historical estimate is considered reasonable, but a Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource, and ATHA is not treating the historical estimate as a current mineral resource. The historical information provides an indication of the exploration potential of the properties but may not be representative of expected results.
Notes on the Historical Mineral Resource Estimate for the Angilak Deposit:
This estimate is considered to be a “historical estimate” under NI 43-101 and is not considered by any of to be current. See below for further details regarding the historical mineral resource estimate for the Angilak Property.
Mineral resources which are not mineral reserves do not have demonstrated economic viability.
The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues.
The quality and grade of the reported inferred resource in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource, and it is uncertain if further exploration will result in upgrading them to an indicated or measured resource category.
Contained value metals may not add due to rounding.
A 0.2% U3O8 cut-off was used.
The mineral resource estimate contained in this press release is considered to be “historical estimates” as defined under NI 43-101 and is not considered to be current.
The “historical estimate” is derived from a Technical Report entitled “Technical Report and Resource Update For The Angilak Property, Kivalliq Region, Nunavut, Canada”, prepared by Michael Dufresne, M.Sc., P.Geol. of APEX Geosciences, Robert Sim, B.Sc., P.Geo. of SIM Geological Inc. and Bruce Davis, Ph.D., FAusIMM of BD Resource Consulting Inc., dated March 1, 2013 for ValOre Metals Corp.
As disclosed in the above noted technical report, the historical estimate was prepared under the direction of Robert Sim, P.Geo, with the assistance of Dr. Bruce Davis, FAusIMM, and consists of three-dimensional block models based on geostatistical applications using commercial mine planning software. The project limits area based in the UTM coordinate system (NAD83 Zone14) using nominal block sizes measuring 5x5x5m at Lac Cinquante and 5x3x3 m (LxWxH) at J4. Grade (assay) and geological information is derived from work conducted by Kivalliq during the 2009, 2010, 2011 and 2012 field seasons. A thorough review of all the 2013 resource information and drill data by a Qualified Person, along with the incorporation of subsequent exploration work and results, which includes some drilling around the edges of the historical resource subsequent to the publication of the 2013 technical report, would be required in order to verify the Angilak Property historical estimate as a current mineral resource.
The historical mineral resource estimate was calculated in accordance with NI 43-101 and CIM standards at the time of publication and predates the current CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014) and CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (November, 2019).
A thorough review of all historical data performed by a Qualified Person, along with additional exploration work to confirm results would be required to produce a current mineral resource estimate prepared in accordance with NI 43-101.
Notes on the Historical Mineral Resource Estimate for the Moran Lake Deposit:
Jeffrey A. Morgan, P.Geo. and Gary H. Giroux, P.Eng. completed a NI 43-101 technical report titled “Form 43-101F1 Technical Report on the Central Mineral Belt (CMB) Uranium Project, Labrador, Canada, Prepared for Crosshair Exploration & Mining Corp.” and dated July 31, 2008, with an updated mineral resource estimate for the Moran Lake C-Zone along with initial mineral resources for the Armstrong and Area 1 deposits. They modelled three packages in the Moran Lake Upper C-Zone (the Upper C Main, Upper C Mylonite, and Upper C West), Moran Lake Lower C-Zone, two packages in Armstrong (Armstrong Z1 and Armstrong Z3), and Trout Pond. These mineral resources are based on 3D block models with ordinary kriging used to interpolate grades into 10 m x 10 m x 4 m blocks. A cut-off grade of 0.015% U3O8 was used for all zones other than the Lower C Zone which employed a cut-off grade of 0.035%. A thorough review of all historical data performed by a Qualified Person, along with additional exploration work to confirm results, would be required to produce a current mineral resource estimate prepared in accordance with NI 43-101 standards.
3. Notes on the Historical Mineral Resource Estimate for the Anna Lake Deposit:
The mineral resource estimate contained in this table is considered to be a “historical estimate” as defined under NI 43-101, and is not considered to be current and is not being treated as such. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources. A qualified person would need to review and verify the scientific information and conduct an analysis and reconciliation of historical drill and geological data in order to verify the historical estimate as a current mineral resource.
Reported by Bayswater Uranium Corporation in a Technical Report entitled “Form 43-101 Technical Report on the Anna Lake Uranium Project, Central Mineral Belt, Labrador, Canada”, prepared by R. Dean Fraser, P.Geo. and Gary H. Giroux, P.Eng., dated September 30, 2009.
A 3-dimensional geologic model of the deposit was created for the purpose of the resource estimate using the Gemcom/Surpac modeling software. A solid model was created using a minimum grade x thickness cutoff of 3 meters grading 0.03% U3O8. Intersections not meeting this cutoff were generally not incorporated into the model. The shell of this modeled zone was then used to constrain the mineralization for the purpose of the block model. Assay composites 2.5 meters in length that honoured the mineralized domains were used to interpolate grades into blocks using ordinary kriging. An average specific gravity of 2.93 was used to convert volumes to tonnes. The specific gravity data was acquired in-house and consisted of an average of seventeen samples collected from the mineralised section of the core. The resource was classified into Measured, Indicated or Inferred using semi-variogram ranges applied to search ellipses. All resources estimated at Anna Lake fall under the “Inferred” category due to the wide spaced drill density. An exploration program would need to be conducted, including twinning of historical drill holes in order to verify the Anna Lake Project estimate as a current mineral resource.
Neither the TSXV nor its Market Regulator (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
None of the securities to be issued pursuant to the Scheme have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issuable in the Scheme are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities.
Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. These forward-looking statements or information may relate to, among other things, ATHA’s ongoing business plan, exploration and work program.
Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, delisting of 92 Energy Shares from the ASX, administration of the Sale Facility, assumptions regarding expectations and assumptions concerning the Scheme and that general business and economic conditions will not change in a material adverse manner. Although each of ATHA and 92 Energy have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
Such statements represent the current views of ATHA and 92 Energy with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by ATHA and 92 Energy, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: the TSXV not providing approval to the Scheme and all required matters related thereto; the inability of the consolidated entity to realize the benefits anticipated from the Scheme and the timing to realize such benefits, including the exploration and drilling targets; unanticipated changes in market price for ATHA Shares; changes to ATHA’s and/or 92 Energy’s current and future business and exploration plans and the strategic alternatives available thereto; growth prospects and outlook of the business of each of ATHA and 92 Energy; any impacts of COVID-19 on the business of the consolidated entity and the ability to advance its projects; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions in Canada and other jurisdictions where the applicable party conducts business. Other factors which could materially affect such forward-looking information are described in the filings of ATHA with the Canadian securities regulators which are available on ATHA’s profile on SEDAR+ at www.sedarplus.ca, and filings of 92 Energy with the Australian regulatory authorities. Neither ATHA nor 92 Energy undertake to update any forward-looking information, except in accordance with applicable securities laws.
ATHA Energy Announces 2024 Gemini Project Exploration Program
https://ca.finance.yahoo.com/news/atha-energy-announces-2024-gemini-110000217.html
ATHA Energy Corp.
Thu, April 11, 2024 at 4:00 a.m. PDT·15 min read
SASKF
-1.63%
CCO.TO
-0.55%
GEMINI PROJECT HIGHLIGHTS:
The Gemini Project is located 31 km northeast of Cameco’s Key Lake Mine, along the southeastern margin of the uranium rich Athabasca Basin, and hosts the high-grade uranium Gemini Mineralized Zone (“GMZ”).
GMZ is a shallow (mineralization begins at <60 m depth) basement hosted, high-grade uranium discovery, which remains open at depth and along strike.
GMZ is analogous to uranium mineralization along Cameco’s Rabbit Lake Trend, which produced 203MM lbs of uranium concentrate. Similarities with the Rabbit Lake Trend are demonstrated by:
The visual scale and nature of hydrothermal alteration;
The interpreted structural control on mineralization;
Mineralization hosted within meta-sediments (Hidden Bay assemblage within the upper Wollaston Domain) lithologies with associated alteration halos typical of high-grade uranium deposits within the Athabasca Basin;
Uranium mineralization discovered along parallel conductor within the GMZ Trend and newly identified geophysical targets along strike to the north.
Successive diamond drilling exploration programs at the GMZ, conducted between 2021 through to 2023, are highlighted by high-grade drillhole intersections, such as:
GEM22-025 intersected 43.0 m grading 0.62% U3O8, including 18.0 m grading 1.16% U3O8.
GEM23-061 intersected 5.0 m grading 1.47% U3O8, including 1.5 m grading 4.69% U3O8 and another sub-interval of 9.66% U3O8 over 0.5 m.
2024 GEMINI PROJECT EXPLORATION PROGRAM:
2024 Gemini Project Exploration Program builds upon the work completed by 92 Energy, targeting the GMZ Trend within the Gemini Project area and is comprised of three phases:
Phase I: Geophysics (Currently On-going) – Ground Gravity Survey followed by the deployment of Fleet Space’s Exosphere ANT (Ambient Noise Tomography) System.
Ground Gravity Survey (“GGS”) – (Completed February 2024): 92 Energy completed a comprehensive GGS focused on the GMZ and surrounding area – encompassing prospective parallel conductors. The results of the GGS were received in late March and highlight:
The GGS demonstrates the continuation of alteration associated with the GMZ Discovery to the southwest, within the Gemini Project area.
On parallel conductors, five large-scale gravity anomalies, which are also coincident with EM anomalies and MAG lows were identified – these anomalies are high-priority targets.
Fleet Space’s Exosphere Ambient Noise Tomography (ANT) – (Commenced April 2024): The ANT system is a non-intrusive ground-based geophysical survey system designed to measure naturally occurring seismic vibrations in the earth’s crust caused by wave action, weather, and other anthropogenic activities.
Results of other ANT surveys completed in the Athabasca Basin have been successfully correlated with uranium mineralization and associated alteration of the surrounding rock mass.
The ANT survey results will be gathered and uploaded to Fleet Space’s satellite network in near real-time, with anticipated completion by end of April.
Phase II: Target Development and Diamond Drilling Optimization (Currently Ongoing) – Comprised of two components:
Data Compilation – Results from Phase I Geophysics, along with all data collected during previous exploration programs, and an ongoing SRK Consulting structural study on controls of uranium mineralization at GMZ will be compiled forming a comprehensive data set – producing a detailed 3D Geological model of the GMZ.
Machine Learning and Enhanced Target Selection – 3D Geological model coupled with an internally developed proprietary Machine Learning Process. The process is designed to further de-risk and advance exploration targets at the GMZ and surrounding area prior to commencement of Phase III – Diamond Drilling Exploration.
Phase III: Diamond Drilling (Commencing Mid – Q3, 2024) – The diamond drilling exploration program is comprised of ~8,000 m and focuses on two key objectives:
GMZ Expansion – ~4,000 m allocated to expanding the mineralization footprint immediately adjacent to the GMZ by testing prospective uranium-bearing structures.
GMZ Trend Exploration – ~4,000 m allocated to testing of known regional high-priority targets.
VANCOUVER, British Columbia, April 11, 2024 (GLOBE NEWSWIRE) -- ATHA Energy Corp. (TSX.V: SASK) (FRA: X5U) (OTCQB: SASKF) (“ATHA” or the “Company”), holder of the largest uranium exploration portfolio in two of the highest-grade uranium districts in the world, is pleased to announce plans for its 2024 Gemini Project Exploration Program. At the 100%-owned Gemini Project located in the Athabasca Basin, Saskatchewan, the Company will deploy a three phased exploration approach. Phases I & II are designed to increase the probability of discovery and optimize capital expenditure during the Company’s Phase III diamond drill program, slated to begin mid Q3, 2024. The 2024 Gemini Project Exploration Program is in addition to the Company’s previously announced 2024 exploration programs at the Angilak Project in Nunavut and regional exploration on nine of its wholly owned high-priority projects within its four Athabasca Basin Exploration Districts (North Rim, Cable Bay, East Rim and West Rim). See March 20th, 2024, news release for more detail. The Company’s full 2024 Exploration Program comprising activities in Nunavut and Saskatchewan represents one of the largest uranium focused exploration programs globally and is the most significant undertaken by ATHA Energy.
EXPLORATION OUTLOOK
The Company’s core objective is discovery and development of its portfolio of uranium focused projects. With the acquisition of Latitude Uranium and 92 Energy, ATHA Energy’s portfolio now totals 8.1 million acres across Canada’s three most prospective jurisdictions for uranium discovery and development. The Company’s portfolio is highly diversified across the exploration risk curve. With projects ranging from development stage like Angilak, which host’s the Lac 50 Deposit – one of the largest, highest grade uranium deposits outside of the Athabasca Basin; post discovery projects like Gemini – which contains GMZ – a recent shallow, basement style, high-grade uranium discovery; through to highly prospective greenfields projects with numerous uranium occurrences and high-priority de-risked geophysical targets. ATHA’s exploration approach is designed to provide maximum exploration exposure by investing at scale in a large number of early-stage projects, derisking those targets, and seeking to deliver advanced exploration upside through the expansion of known uranium deposits and additional discoveries. ATHA intends to leverage its robust cash position to pursue a fully-funded growth strategy.
GEMINI PROJECT – SASKATCHEWAN
With the acquisition of 92 Energy by ATHA Energy, which includes the 100%-owned Gemini Project (Figure 1), the Company’s objective is to build upon the work completed by 92 Energy. The 2024 Gemini Project Exploration Program’s objective is expansion of mineralization at the GMZ and discovery of additional zones of mineralization within the GMZ Trend. The program has three progressive Phases designed to increase the probability of discovery and optimise capital expenditure. Phase I Geophysics will provide additional data needed to identify areas of expansion at GMZ and de-risk regional targets within the GMZ Trend. Phase II Target Development and Diamond Drilling Optimization compiles all available data collected during exploration programs at the Gemini Project. The comprehensive data set will then be used in development of 3D geological model and coupled with machine learning technologies to further enhance and de-risk targets. Phase III Diamond Drilling will target expansion of the mineralized footprint at GMZ and discovery of additional zones of uranium mineralization within the GMZ Trend (Figure 2).
Figure 1: ATHA Energy Land Package and Location of the Gemini Project
Figure 1: ATHA Energy Land Package and Location of the Gemini Project
Figure 2: 2024 Gemini Project Exploration Program Area of Focus
Figure 2: 2024 Gemini Project Exploration Program Area of Focus
Phases I and II are currently ongoing and are anticipated to be finalized by end of Q2, 2024. Phase III is scheduled to commence in mid-Q3, 2024, with preparations already underway. The Company has secured all necessary permits and approvals.
Troy Boisjoli, CEO added: “It’s fitting that the one-year anniversary (April 11th, 2024) of ATHA’s public listing coincides with the beginning of a new chapter for the Company. Over the last year ATHA has achieved many significant milestones, including: amassing the largest portfolio of prospective uranium exploration projects globally, completion of the largest EM survey in the history of the Athabasca Basin, the acquisition of the Latitude Uranium (which includes the Angilak Project, hosting one of the largest high-grade uranium projects outside of the Athabasca Basin), and now the acquisition of 92 Energy (including the Gemini Project). ATHA’s 2024 Exploration Programs focus on development and discovery across its unparalleled portfolio of uranium projects. Our plans for 2024 are designed to execute on the Company’s core objective, to discover and develop Canada’s next generation of uranium assets, under the backdrop of the best emerging uranium market ever.”
Cliff Revering, VP Exploration added: “The addition of 92 Energy’s portfolio, and in particular the Gemini Project and newly discovered GMZ uranium mineralized corridor, brings significant exploration upside to ATHA. The 2024 exploration program on the Gemini Project is designed to build on the previous exploration success by applying industry-leading techniques and technologies to further identify and characterize prospective targets ahead of drilling, maximizing the potential to expand the mineralization footprint within the GMZ mineralized corridor and Gemini Project.”
Hybrid Financial
ATHA Energy is also pleased to announce that it has retained Hybrid Financial Ltd. (“Hybrid”) to provide marketing services to the Company. Hybrid has been engaged to heighten market and brand awareness for ATHA Energy and to broaden the Company's reach within the investment community.
The services to be provided by Hybrid include phone calls to, and email communications with, qualified North American Investment Professionals (the “Services”). Hybrid has agreed to comply with all applicable securities laws and the policies of the TSX Venture Exchange (the “TSXV”) in providing the Services.
Hybrid has been engaged by the Company for an initial period of six months starting April 11, 2024 (the “Initial Term”) and then shall be renewed automatically for successive three-month periods thereafter, unless terminated by the Company in accordance with the Agreement. Hybrid will be paid a monthly fee of $15,000, plus applicable taxes, during the Initial Term. No securities of ATHA are being granted to Hybrid under the terms of its engagement.
The contact information for Hybrid is Hybrid Financial Ltd, 222 Bay Street, PO Box 37, Suite 2600, Toronto, ON M5K 1B7; Phone: 1-888-246-9446
NSS Share Issuance
Pursuant to the Athabasca Basin Properties Sale and Purchase Agreement dated September 20, 2022, as amended by an amending letter dated December 6, 2023, between ATHA and The New Saskatchewan Syndicate ("NSS”), ATHA has issued to NSS an aggregate of 5,000,000 ATHA Shares as of the date hereof.
Qualified Person
The scientific and technical information contained in this news release have been reviewed and approved by Cliff Revering, P.Eng., the Vice President, Exploration of ATHA, who is a "qualified person" as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About ATHA
ATHA is a Canadian mineral company engaged in the acquisition, exploration, and development of uranium assets in the pursuit of a clean energy future. With a strategically balanced portfolio including three 100%-owned post discovery uranium projects (the Angilak Project located in Nunavut, and CMB Discoveries in Labrador hosting historical resource estimates of 43.3 million lbs and 14.5 million lbs U3O8 respectively, and the newly discovered basement hosted GMZ high-grade uranium discovery located in the Athabasca Basin). In addition, the Company holds the largest cumulative prospective exploration land package (8.1 million acres) in two of the world’s most prominent basins for uranium discoveries - ATHA is well positioned to drive value. ATHA also holds a 10% carried interest in key Athabasca Basin exploration projects operated by NexGen Energy Ltd. and IsoEnergy Ltd. For more information visit www.athaenergy.com.1,2,3
About Hybrid Financial
Hybrid Financial connects issuers to the investment community across North America. Using a data driven approach, Hybrid provides its clients with comprehensive coverage of both American and Canadian markets. Hybrid Financial has offices in Toronto and Montreal.
For more information, please contact:
Troy Boisjoli
Chief Executive Officer
Email: info@athaenergy.com
www.athaenergy.com
Historical Mineral Resource Estimates
All mineral resources estimates presented in this news release are considered to be “historical estimates” as defined under NI 43-101, and have been derived from the following (See notes below). In each instance, the historical estimate is reported using the categories of mineral resources and mineral reserves as defined by the CIM Definition Standards for Mineral Reserves, and mineral reserves at that time, and these “historical estimates” are not considered by ATHA to be current. In each instance, the reliability of the historical estimate is considered reasonable, but a Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource, and ATHA is not treating the historical estimate as a current mineral resource. The historical information provides an indication of the exploration potential of the properties but may not be representative of expected results.
Notes on the Historical Mineral Resource Estimate for the Angilak Deposit:
This estimate is considered to be a “historical estimate” under NI 43-101 and is not considered by any of to be current. See below for further details regarding the historical mineral resource estimate for the Angilak Property.
Mineral resources which are not mineral reserves do not have demonstrated economic viability.
The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues.
The quality and grade of the reported inferred resource in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource, and it is uncertain if further exploration will result in upgrading them to an indicated or measured resource category.
Contained value metals may not add due to rounding.
A 0.2% U3O8 cut-off was used.
The mineral resource estimate contained in this press release is considered to be “historical estimates” as defined under NI 43-101 and is not considered to be current.
The “historical estimate” is derived from a Technical Report entitled “Technical Report and Resource Update For The Angilak Property, Kivalliq Region, Nunavut, Canada”, prepared by Michael Dufresne, M.Sc., P.Geol. of APEX Geosciences, Robert Sim, B.Sc., P.Geo. of SIM Geological Inc. and Bruce Davis, Ph.D., FAusIMM of BD Resource Consulting Inc., dated March 1, 2013 for ValOre Metals Corp.
As disclosed in the above noted technical report, the historical estimate was prepared under the direction of Robert Sim, P.Geo, with the assistance of Dr. Bruce Davis, FAusIMM, and consists of three-dimensional block models based on geostatistical applications using commercial mine planning software. The project limits area based in the UTM coordinate system (NAD83 Zone14) using nominal block sizes measuring 5x5x5m at Lac Cinquante and 5x3x3 m (LxWxH) at J4. Grade (assay) and geological information is derived from work conducted by Kivalliq during the 2009, 2010, 2011 and 2012 field seasons. A thorough review of all the 2013 resource information and drill data by a Qualified Person, along with the incorporation of subsequent exploration work and results, which includes some drilling around the edges of the historical resource subsequent to the publication of the 2013 technical report, would be required in order to verify the Angilak Property historical estimate as a current mineral resource.
The historical mineral resource estimate was calculated in accordance with NI 43-101 and CIM standards at the time of publication and predates the current CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014) and CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (November, 2019).
A thorough review of all historical data performed by a Qualified Person, along with additional exploration work to confirm results would be required to produce a current mineral resource estimate prepared in accordance with NI 43-101.
Notes on the Historical Mineral Resource Estimate for the Moran Lake Deposit:
Jeffrey A. Morgan, P.Geo. and Gary H. Giroux, P.Eng. completed a NI 43-101 technical report titled “Form 43-101F1 Technical Report on the Central Mineral Belt (CMB) Uranium Project, Labrador, Canada, Prepared for Crosshair Exploration & Mining Corp.” and dated July 31, 2008, with an updated mineral resource estimate for the Moran Lake C-Zone along with initial mineral resources for the Armstrong and Area 1 deposits. They modelled three packages in the Moran Lake Upper C-Zone (the Upper C Main, Upper C Mylonite, and Upper C West), Moran Lake Lower C-Zone, two packages in Armstrong (Armstrong Z1 and Armstrong Z3), and Trout Pond. These mineral resources are based on 3D block models with ordinary kriging used to interpolate grades into 10 m x 10 m x 4 m blocks. A cut-off grade of 0.015% U3O8 was used for all zones other than the Lower C Zone which employed a cut-off grade of 0.035%. A thorough review of all historical data performed by a Qualified Person, along with additional exploration work to confirm results, would be required to produce a current mineral resource estimate prepared in accordance with NI 43-101 standards.
3. Notes on the Historical Mineral Resource Estimate for the Anna Lake Deposit:
The mineral resource estimate contained in this table is considered to be a “historical estimate” as defined under NI 43-101, and is not considered to be current and is not being treated as such. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources. A qualified person would need to review and verify the scientific information and conduct an analysis and reconciliation of historical drill and geological data in order to verify the historical estimate as a current mineral resource.
Reported by Bayswater Uranium Corporation in a Technical Report entitled “Form 43-101 Technical Report on the Anna Lake Uranium Project, Central Mineral Belt, Labrador, Canada”, prepared by R. Dean Fraser, P.Geo. and Gary H. Giroux, P.Eng., dated September 30, 2009.
A 3-dimensional geologic model of the deposit was created for the purpose of the resource estimate using the Gemcom/Surpac modeling software. A solid model was created using a minimum grade x thickness cutoff of 3 meters grading 0.03% U3O8. Intersections not meeting this cutoff were generally not incorporated into the model. The shell of this modeled zone was then used to constrain the mineralization for the purpose of the block model. Assay composites 2.5 meters in length that honoured the mineralized domains were used to interpolate grades into blocks using ordinary kriging. An average specific gravity of 2.93 was used to convert volumes to tonnes. The specific gravity data was acquired in-house and consisted of an average of seventeen samples collected from the mineralised section of the core. The resource was classified into Measured, Indicated or Inferred using semi-variogram ranges applied to search ellipses. All resources estimated at Anna Lake fall under the “Inferred” category due to the wide spaced drill density. An exploration program would need to be conducted, including twinning of historical drill holes in order to verify the Anna Lake Project estimate as a current mineral resource.
Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. These forward-looking statements or information may relate to ATHA’s proposed exploration program, including statements with respect to the expected benefits of ATHA’s proposed exploration program, any results that may be derived from ATHA’s proposed exploration program, the timing, scope, nature, breadth and other information related to ATHA’s proposed exploration program, any results that may be derived from the diversification of ATHA’s portfolio, the successful integration of the businesses of ATHA, Latitude Uranium and 92 Energy, the prospects of ATHA’s projects, including mineral resources estimates and mineralization of each project, the prospects of ATHA’s business plans and any expectations with respect to defining mineral resources or mineral reserves on any of ATHA’s projects, and any expectation with respect to any permitting, development or other work that may be required to bring any of the projects into development or production.
Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions that the anticipated benefits of ATHA’s proposed exploration program will be realized, that no additional permit or licenses will be required in connection with ATHA’s exploration programs, the ability of ATHA to complete its exploration activities as currently expected and on the current anticipated timelines, including ATHA’s proposed exploration program, that that ATHA will be able to execute on its current plans, that ATHA’s proposed explorations will yield results as expected, the synergies between ATHA, 92 Energy and Latitude Uranium’s assets, and that general business and economic conditions will not change in a material adverse manner. Although each of ATHA and 92E 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 view of ATHA with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by ATHA, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: inability of ATHA to realize the benefits anticipated from the exploration and drilling targets described herein or elsewhere; in ability of ATHA to complete current exploration plans as presently anticipated or at all; inability for ATHA to economically realize on the benefits, if any, derived from the exploration program; failure to complete business plans as it currently anticipated; overdiversification of ATHA’s portfolio; failure to realize on benefits, if any, of a diversified portfolio; unanticipated changes in market price for ATHA shares; changes to ATHA’s current and future business and exploration plans and the strategic alternatives available thereto; growth prospects and outlook of the business of ATHA; any impacts of COVID-19 on the business of ATHA and the ability to advance the Company projects and its proposed exploration program; risks inherent in mineral exploration including risks related worker safety, weather and other natural occurrences, accidents, availability of personnel and equipment, and other factors; aboriginal title; failure to obtain regulatory and permitting approvals; no known mineral resources/reserves; reliance on key management and other personnel; competition; changes in laws and regulations; uninsurable risks; delays in governmental and other approvals, community relations; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions in Canada, Australia and other jurisdictions where ATHA conducts business. Other factors which could materially affect such forward-looking information are described in the filings of ATHA with the Canadian securities regulators which are available on ATHA’s profile on SEDAR+ at www.sedarplus.ca. ATHA does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/920c5cd9-4403-49b6-8138-3327bf700474
https://www.globenewswire.com/NewsRoom/AttachmentNg/de492ff5-ced5-4128-ab0b-4bd98600933d
Atco Mining Intersects Anomalous Radioactivity, Prospective Structure and Alteration in Multiple Drill Holes at Atlantic Project; Concludes Inaugurul Drill Program; Closes Final Tranche of Private Placement
https://thenewswire.com/press-releases/1BKRFj9PY-atco-mining-intersects-anomalous-radioactivity-prospective-structure-and-alteration-in-multiple-drill-holes-at-atlantic-project-concludes-inaugurul-drill-program-closes-final-tranche-of-private-placement.html
Vancouver, British Columbia, April 11th, 2024 – TheNewswire — Atco Mining Inc. (“Atco” or the “Company”) (CSE: ATCM) (US: ATMGF) (Frankfurt: QP9)
Record Acquires Option on Large Uranium Land Package
Exploration Planned For the Malborne Uranium Project
https://www.newsfilecorp.com/release/204804
April 09, 2024 8:27 AM EDT | Source: Record Resources Inc. Calgary, Alberta--(Newsfile Corp. - April 9, 2024) - Record Resources Inc. (TSXV: REC) reports it has acquired an option on a large package of uranium claims northeast of Thunder Bay, Ontario, Canada.
The option covers a large area known as the Malborne property and is owned by privately-held exploration companies, 2758145 (Ontario) Inc and 1170331 BC Ltd. (the optionor). The land package consists of 780 claims stretching over 16,320 hectares (163 square kilometres) and is located 110 kilometres northeast of Thunder Bay, Ontario.
"The rocks in this land package, the Malborne claims, have the potential to be as prospective for uranium mineralization akin to the rocks in the Athabasca basin in Saskatchewan," said Record Resources CEO, Michael Judson. "Ontario is known for its uranium deposits and produced more than 400 million pounds of uranium oxide between 1955 and 1996."
"There hasn't been a lot been a lot of uranium exploration in Ontario in the last thirty years due to low prices," Judson said. "Historical exploration focused on looking for uranium in plutons, pegmatites and the iron formations. We think that this is the wrong approach to targeting economic uranium deposits. We have a new exploration strategy that will be revealed in time."
Ontario Geological Survey (OGS) geologist, JF Scott, in a 1987 report (open file report 5634) concluded that there are structural and lithological similarities between rock units found in the Quetico Belt in Ontario and in the Wollaston belt in the Athabasca basin, Saskatchewan. The major uranium deposits occur in the Wollaston formation and underlies the Basin sedimentary rock.
The most recent exploration drilling done in the Malborne area was by RPT Resources Corp in the Frazer Creek area. RPT intersected 1.20% U308 over 3.2 metres, 1.9% U308 over 0.30 and 0.56% U308 over 0.3 metres. (Bowdidge, C. 2006, AFRO 2.3194).
RPT Uranium Corp also reported trench samples from Frazer Creek that assayed 4,385 ppm U308, 252 ppm U308, 14,862 ppm U308, 4,016 ppm U308, 6,422 ppm U308, 2,755 ppm U308, 2,853 ppm U308, 5,995 ppm U3O8 (source: Dawn-Ann Metsaranta for RPT Uranium (2007).
JF Scott, from the OGS, reported radioactive vein sets including an assay of 3.9% U308 at Black Sturgeon Lake and grab samples that assayed 800 ppm uranium, 100 ppm niobium and 60 ppm cobalt. In 2008, drilling by RPT Uranium Corp on this property drilled intersections ranging from 0.11% to 4.68% U308 over intervals of less than one metre (source: Metsaranta, Dawn-Ann, 2008, AFTO2.37448).
At the Lake Helen area (in the new claim block) pegmatite dikes of up to 30 metres wide, some stained yellow with uranophane, were noted in a report the OGS's BR Schnieders et al (open file report 6148, 2005). As well, Scott reported grab samples assaying up to 420 ppm uranium and 290 ppm thorium from the Jessie Lake area (also part of the Malborne claims).
As previously reported in the company's December 19, 2023 news release, Record Resources also optioned the Malborne Lake uranium property (part of the new claim block). The Ontario Government Survey (OGS) has reported finding at Malborne Lake a narrow, high-grade, mineralized fracture containing pitchblende (uranininte) as well as secondary yellow uranium minerals, which is probably uranophane. (Therese Pettrigrew, April 21, 2022 OGS assessment report number 52H07SW0001).
Exploration in this area has been cyclic with numerous short-periods between 1947 to 1983. Since 2004, as the uranium deposit models from the Athabasca Basin become better understood, there is renewed interest in the uranium potential of the Nipigon-Sibley Basin (Schnieders B.R. et al 2005).
Malborne Uranium Project, Ontario
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1769/204804_8335d05664114ae2_001full.jpg
Terms of Agreement:
Record Resources can own 100 percent of the claims by paying $300,000 at closing on or before May 31, 2024 and by issuing a total of 6.9 million shares in instalments over a two-year period. Three million of the total 6.9 million shares are payable at closing. An additional two million shares is payable on May 31, 2025. A last payment of 1.9 million shares is payable on May 31, 2026. The shares to be issued as part of this agreement are valued at $0.035 per share. No finders fee was paid. This transaction is expected to close on or before May 31, 2024. This arms length agreement was signed on April 1, 2024. This transaction is subject to TSX Venture Exchange, regulatory and board approvals.
Qualified Person:
Edward Procyshyn, P.Geo, a qualified person in accordance with National Instrument 43-101, has reviewed and approved the technical information contained in this news release.
For more information please contact:
Michael C. Judson, Chairman & CEO
Record Resources Inc.
T. +1-514-865-5496
Website: www.recordresourcesinc.com
Cautionary Statements
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes", an or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would" , "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: approval of the Private Placement and obtaining a full revocation order. This forward-looking information reflects the Company's current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to: the market acceptance of the Private Placement; the ability of the Company to obtain a full revocation order and the receipt of all required approvals in connection with the foregoing. Forward-looking information is 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 information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market price for securities; and the delay or failure to receive board, shareholder, court or regulatory approvals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. 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 the forward-looking statements and information contained in this news release. Except as required by law the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The Units and the securities comprising the Units have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of securities in the Unites States, or any other jurisdiction, in which such offer, solicitation or sale would be unlawful.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
SOURCE: Record Resources Inc.
Nevada Exploration Closes Property Acquisition
https://ca.finance.yahoo.com/news/nevada-exploration-closes-property-acquisition-130000056.html
Nevada Exploration Inc.
Wed, April 10, 2024 at 6:00 a.m. PDT·1 min read
NVDEF
-1.98%
VANCOUVER, British Columbia, April 10, 2024 (GLOBE NEWSWIRE) -- Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V:NGE; OTCQB:NVDEF) is pleased to announce that it has closed the acquisition of 35,467 hectares of mineral claims in Saskatchewan.
A 100% ownership of the claims was purchased by Nevada Exploration Inc. for total consideration of CAD$40,000 with no further financial commitment to the Vendor. The Vendor does not retain any interest or royalty in the property.
The claims are located on the Southeastern margin of the Athabasca Basin as one contiguous block.
About Nevada Exploration Inc.
NGE has for the past several years been applying modern technology to systematically explore for the undiscovered second half of Nevada’s gold endowment waiting to be uncovered within Nevada’s valley basins. The Company is examining other opportunities in its quest to create shareholder value.
Website: www.nevadaexploration.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.
Cautionary statement regarding forward-looking information
Certain disclosures in this release constitute "forward-looking information" within the meaning of Canadian securities legislation (such statements being referred to as "forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its planned activities, and the Company's inability to raise the necessary capital or to be fully able to implement its business strategies. The reader is referred to the Company's public disclosure record which is available on SEDAR+ (sedarplus.ca). Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by securities laws and the policies of the TSX Venture Exchange, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
CONTACT: For further information, please contact: Nevada Exploration Inc. Email: info@nevadaexploration.com Telephone: +1 (604) 601 2006
Aero Reports on Recent Exploration Insights for the Murmac Uranium Project
Upside Highlighted by Proven High-Grade Uranium Endowment
https://www.newsfilecorp.com/release/204775
April 09, 2024 7:05 AM EDT | Source: Aero Energy Ltd.
Vancouver, British Columbia--(Newsfile Corp. - April 9, 2024) - Aero Energy Ltd (TSXV: AERO) (OTC Pink: AAUGF) (FSE: UU3)
Fission Announces New Exploration and Resource Drill Programs at PLS High-Grade Uranium Project
https://www.newswire.ca/news-releases/fission-announces-new-exploration-and-resource-drill-programs-at-pls-high-grade-uranium-project-899634556.html
Fission Uranium Corp. Apr 08, 2024, 03:00 ET
ir@fissionuranium.com
www.fissionuranium.com
TSX SYMBOL: FCU
OTCQX SYMBOL: FCUUF
FRANKFURT SYMBOL: 2FU
Regional exploration and R1515W zone drilling to carried out concurrently
KELOWNA, BC, April 8, 2024 /CNW/ - FISSION URANIUM CORP. ("Fission" or the "Company") is pleased to announce that preparations are underway for a two-prong drill program at its award-winning PLS high-grade uranium project in Canada's Athabasca Basin with concurrent regional exploration as well as deposit upgrading. A 15-hole (~6,650m) regional drill program will follow up on the highest priority target areas identified during the recent winter exploration program (see NR Mar 25, 2024). Additionally, a 19-hole (~5,830m) program will focus on in-fill drilling the R1515W high-grade zone with the primary goal of upgrading the resource classification of the majority of the zone's Inferred Resources to Indicated for inclusion of the R1515W in the current mine plan. Drilling is expected to commence in early May.
Patterson Lake South 2024 Summer Proposed Diamond Drill Program (CNW Group/Fission Uranium Corp.)
Ross McElroy, President, and CEO for Fission, commented, "We have two concurrent drill programs at PLS commencing next month. The first will be further regional exploration following up on our very encouraging winter drill results which identified four particularly high priority areas. The second program will focus on upgrading sections of the R1515W high-grade zone with the goal bringing it into the Triple R mine plan and schedule. By doing so, we have the clear potential to further increase our mine reserves and mine life."
Regional Exploration Target Area and Drill Program Details
Saloon Target (5 holes). Located 4.8 km southwest of Triple R, a minimum of five drillholes will continue to test a parallel shear zone to that which hosts the Triple R deposit. The winter program tested 2 holes at Saloon (PLS24-638 and PLS24-641). Both holes hit anomalous radioactivity in strongly altered (clay, chlorite, hematite, graphite, silica) structural deformation zones. Anomalous radioactivity and alteration at Saloon has now been identified over 50m in the down-dip direction and 220m along strike, suggesting a major hydrothermal fluid pathway which contains uranium mineralization. The Saloon shear zone is on trend to the west with the recent high-grade "PCE" discovery (hole RK-24-183) reported at NexGen's SW2 property. The Saloon shear zone target is considered to have excellent exploration potential.
Pistol Target (4 holes). Drilling at the Pistol target area, 350m north of the R780E zone, will follow up on a series of stacked graphitic shear zones, wet rock style alteration, rose quartz and dravite intersected in winter 2024 drilling. These geologic features are interpreted to have a close spatial relationship with uranium mineralization at NexGen's Arrow deposit to the northeast and have not been identified at the Pistol target area in previous drilling.
East Extension Target (3 holes). The target area lies 1 km east of the R1620E zone. The aim is to extend the zone of anomalous radioactivity cored in all seven winter 2024 drillholes at this target area. The graphitic shear zone which hosts the radioactivity at East Extension is interpreted to be the eastern continuation of the mineralized corridor that hosts all of the Triple R pods, and represents the only radioactivity intersected by Fission east of the R1620E zone to date.
Saddle Target Area (3 holes). Situated 3.7 km west of the R1515W zone. Drilling will follow up on encouraging geology intersected in PLS24-649, including silicified hanging wall, underlain by a thick sequence of graphite, chlorite, clay and hematite altered gneissic rocks, which is interpreted to be equivalent to the Triple R host rocks, coincident with prospective geophysical features.
R1515W Zone and Drill Program Details
Drilling at the R1515W zone will consist of 19 drillholes totaling 5,830m. The R1515W zone contains an Indicated Resource of 67,000 tonnes at an average grade of 1.15% U3O8 totaling 1.7 million lb U3O8 and an Inferred Resource of 234,000 tonnes at an average grade of 0.96% U3O8 totaling 5 million lb. U3O8, using a cutoff grade of 0.25% U3O8. The objective of R1515W drilling will be to convert areas of the R1515W zone currently classified as Inferred Resources to Indicated Resources through closely spaced drilling, potentially allowing it to be brought into the current mine plan. Planned drillhole pierce point spacing at the R1515W zone to upgrade the resource classification will be approximately 25m by 15m, grid north-south by grid east-west, respectively. Additionally, critical geotechnical and hydrogeological information will be collected at the R1515W zone, to be used in the assessment of viability of inclusion in the overall PLS project mine plan and schedule.
Map 1: Patterson Lake South 2024 Summer Proposed Diamond Drill Program
PLS Mineralized Trend & Triple R Deposit Summary
Uranium mineralization of the Triple R deposit at PLS occurs within the Patterson Lake Conductive Corridor and has been traced by core drilling over ~3.18 km of east-west strike length in five separated mineralized "zones", which collectively make up the Triple R deposit. From west to east, these zones are R1515W, R840W, R00E, R780E and R1620E. Through successful exploration programs completed to date, Triple R has evolved into a large, near-surface, basement-hosted, structurally controlled high-grade uranium deposit. The discovery hole was announced on November 05, 2012, with drill hole PLS12-022 from what is now referred to as the R00E zone.
The R1515W, R840W and R00E zones make up the western region of the Triple R deposit and are located on land, where overburden thickness is generally between 55m to 100m. R1515W is the westernmost of the zones and is drill defined to ~90m in strike length, ~68m across strike and ~220m vertical and where mineralization remains open in several directions. R840W is located ~515m to the east along the strike of R1515W and has a drill-defined strike length of ~430m. R00E is located ~485m to the east along strike of R840W and is drill defined to ~115m in strike length. The R780E and R1620E zones make up the eastern region of the Triple R deposit. Both zones are located beneath Patterson Lake, where water depth is generally less than six metres, and overburden thickness is generally about 50m. R780E is located ~225m to the east of R00E and has a drill-defined strike length of ~945m. R1620E is located ~210m along strike to the east of R780E and is drill defined to ~185m in strike length.
Mineralization along the Patterson Lake Corridor trend remains prospective along strike in both the western and eastern directions. Basement rocks within the mineralized trend are identified primarily as mafic rocks with varying degrees of alteration. Mineralization is both located within and associated with mafic intrusives with varying degrees of silicification, metasomatic mineral assemblages and hydrothermal graphite. The graphitic sequences are associated with the PL-3B basement Electro-Magnetic (EM) conductor.
Patterson Lake South Property
The 31,039-hectare PLS project is 100% owned and operated by Fission Uranium Corp. PLS is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine.
Qualified Persons
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ross McElroy, P.Geo., President and CEO for Fission Uranium Corp., a qualified person.
About Fission Uranium Corp.
Fission Uranium Corp. is an award-winning Canadian uranium project developer and 100% owner of the Patterson Lake South uranium property – a proposed high-grade uranium mine and mill in Canada's Athabasca Basin region. Fission's common shares are listed on the TSX Exchange under the symbol "FCU" and trade on the OTCQX marketplace in the U.S. under the symbol "FCUUF" and on the Frankfurt Stock Exchange under the symbol 2FU.
ON BEHALF OF THE BOARD
"Ross McElroy"
______________________________
Ross McElroy, President and CEO
www.fissionuranium.com
Cautionary Statement:
Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of the Company which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR+ at www.sedarplus.ca. The forward-looking statements included in this press release are made as of the date of this press release and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
SOURCE Fission Uranium Corp.
For further information: Investor Relations: TF: 877-868-8140, ir@fissionuranium.com
Searchlight Resources Stakes in the Athabasca Basin
https://www.newsfilecorp.com/release/204037
April 03, 2024 7:00 AM EDT | Source: Searchlight Resources Inc.
New Staking in Eastern Athabasca Basin
2 new claims covering 43.5 sq km.
Vancouver, British Columbia--(Newsfile Corp. - April 3, 2024) - Searchlight Resources Inc. (TSXV: SCLT) (OTCQB: SCLTF) ("Searchlight" or the "Company") is pleased to announce the staking of two mineral claims in the Eastern Athabasca Basin in Northern Saskatchewan.
During the recent Saskatchewan claim reopening, Searchlight staked two claims totaling 43.5 square kilometres within the Athabasca Basin which hosts the highest-grade operating Uranium mines in the world. The Company staked claim MC00018586 covering 1,878.5 hectares located approximately 12 km west of Highway 905, and claim MC00018618 covering 2,468.8 hectares located approximately 2 km east of Highway 905. Searchlight will soon begin the detailed geological evaluation of these claims, and will plan for future exploration. See Map 1.
"These claims fit Searchlight exploration strategy of generating new critical element projects by staking," stated Stephen Wallace, P.Geo, President and CEO of Searchlight.
These claims are now part of the Searchlight's uranium project portfolio which includes the Duddridge Lake Uranium Deposit with a historic 43-101 inferred resource estimate of 227,880 tonnes, and a grade of 2.14 lbs/tonne U3O8 (Fission Energy Corp, 2007). The Duddridge project is accessible by an all-season gravel road (Highway 910) to within 10 km of the deposit, with direct access by winter road and ATV trail in summer. Additionally, Fission sampled 39 boulders in the deposit area with results up to 1.91% uranium and 0.69% copper, plus 0.14% cobalt and 0.55% vanadium.
Map 1. Claims MC00018586 and MC00018618
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9828/204037_5583fa6d54bfa8c3_002full.jpg
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 battery minerals 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.
Terra Balcanica Executes Letter of Intent For Option Agreement To Acquire 100% Interest In Advanced Saskatchewan Uranium Portfolio
https://ca.finance.yahoo.com/news/terra-balcanica-executes-letter-intent-120000624.html
Terra Balcanica Resources Corp.
Wed, April 3, 2024 at 5:00 a.m. PDT·5 min read
UB1.F
+8.93%
TERA.CN
0.00%
Vancouver, British Columbia, April 03, 2024 (GLOBE NEWSWIRE) -- Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1), a multi-jurisdictional exploration company focused on supporting the global transition to clean energy, is pleased to announce that it has entered into a non-binding Letter of Intent (the “Agreement”) with a wholly owned subsidiary of Fulcrum Metals Plc., (“Fulcrum”, AIM:FMET). Pursuant to the Agreement, Terra will have an option (the “Option Agreement”) to acquire a 100% interest in Fulcrum’s Charlot-Neely, Fontaine Lake, Snowbird and South Pendleton uranium licences (the “Licences”) located in northern Saskatchewan, Canada and collectively encompassing 596.71 km2 of highly prospective ground for a uranium discovery.
Highlights
Proximal to northern and southeastern edges of the Athabasca Basin (“Basin”) in northern Saskatchewan, a premium mining district and leading global source of high-grade uranium;
Charlot-Neely is located within the emerging Uranium City district on the northwestern margin of the Basin
Historical work at the projects has demonstrated evidence of uranium mineralization along favourable structural trends with prospective target horizons based on electromagnetic conductors;
Future exploration requires the undertaking of a modern systematic geologic fieldwork to determine the uranium potential.
Terra Balcanica CEO, Dr. Aleksandar Miškovic, commented: “In our pursuit of high-quality assets worldwide, Terra Balcanica has secured an option to acquire a Canadian uranium portfolio covering close to 600 km2 with tremendous potential for discovery. In a world transitioning to green energy solutions, the acquisition of these assets provides a more robust and diverse exploration portfolio for Terra. Although there has been an increase in activity in the uranium sector, we are at the early stages of a commodity super-cycle and being able to acquire such a large, advanced uranium portfolio on favourable terms was a clear opportunity for our shareholders. It is the right time, jurisdiction, and commodity to augment our advanced Balkan portfolio and to further participate in the changing energy landscape. We look forward to working with Fulcrum to apply their technical and jurisdictional expertise to advance these Saskatchewan uranium projects, and we are excited by the addition of a strategic commodity to Terra’s existing polymetallic portfolio.”
Portfolio Overview and Discovery Opportunity
The licence portfolio totals 596.71 km2 targeting major NE-SW trending structures along strike from historic uranium mines and projects that have attracted significant investment. Discoveries such as the Arrow (4.3Mt at 0.83% U3O8; https://www.nexgenenergy.ca/exploration/overview) and Triple R (2.7Mt at 1.94% U3O8 https://fissionuranium.com/projects/triple-r-deposit/project-overview/) have proved the concept of exploring along structures outside of the Athabasca basin.
Figure 1. Regional map of northern Saskatchewan, Canada which is one of the world's leading sources of high-grade uranium and supplies about 20% of the world's uranium. The blue symbols illustrate locations of the four optioned exploration properties totalling 596 km2 in the context of the world-famous Athabasca Basin, a Paleoproterozoic siliciclastic depo-centre (click here to view image).
Key Terms of Agreement
On closing of the transaction, Terra will have a four-year option to acquire 100% of Fulcrum’s owned uranium licences.
In consideration for the four-year option and at the time a definitive agreement is announced by way of news release and subject to a CSE approval, Terra shall pay Fulcrum C$7,500 for exclusivity on execution of signing of the Letter and pay Fulcrum C$25,000 less the C$7,500 exclusivity payment on execution of closing of the Option Agreement.
Additionally, Terra shall pay Fulcrum cash according to the schedule below:
C$50,000 on the first anniversary of closing of the Option Agreement;
C$75,000 on the second anniversary of closing of the Option Agreement;
C$75,000 on the third anniversary of closing of the Option Agreement;
C$75,000 on the fourth anniversary of closing of the Option Agreement;
and issue Fulcrum shares of TERA at the 10-Day Volume Weighted Average Price (“VWAP”) prior to the date of issuance as per the following schedule:
C$250,000 on closing of the Option Agreement with the initial share payments capped at C$0.065/share, pre-consolidation;
C$350,000 on the first anniversary of closing of the Option Agreement;
C$500,000 on the second anniversary of closing of the Option Agreement;
C$650,000 on the third anniversary of closing of the Option Agreement;
C$1,250,000 on the fourth anniversary of closing of the Option Agreement;
Terra will also complete minimum work expenditures totalling $3,250,000 prior to the fourth anniversary of the Option Agreement and grant Fulcrum a 1.0% Net Smelter Return (“NSR”) on all claims with buydown option of 0.5% NSR for C$1,000,000.
As part of the Option Agreement and for terminating the existing prior agreement (the “Prior Agreement”) between Fulcrum and Global Energy Metals Corp. (“Global Energy”), Global Energy will be compensated with C$150,000 in shares in TERA on closing of the Option Agreement and a 0.5% NSR on all claims.
The transaction contemplated above is an “Arms’ Length” in accordance with applicable securities legislation. The CSE has not passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.
Restructuring Board of Directors
Mr. Steven Latimer, ICD.D, CFA, MBA, has stepped down as a director of the Company to focus on his other business interests but he will continue to act as a Strategic Advisor to the Company. Giulio T. Bonifacio, Terra’s Non-Executive Chairman of the Board commented: “We are very thankful for Steve’s involvement to date while looking forward to his future role and contributions as key strategic advisor and shareholder of the Company.”
Qualified Person
Dr. Aleksandar Miškovic, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”). Dr. Miškovic has reviewed and validated the information contained in this news release as factual and accurate.
About the Company
Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. 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 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. 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. 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.
Greenridge Exploration Provides Technical Review of its Nut Lake Uranium Project in Thelon Basin, Nunavut
https://ca.finance.yahoo.com/news/greenridge-exploration-provides-technical-review-120000536.html
Greenridge Exploration Inc.
Thu, April 4, 2024 at 5:00 a.m. PDT·9 min read
HW3.F
+0.93%
GXP.CN
+2.56%
VANCOUVER, British Columbia, April 04, 2024 (GLOBE NEWSWIRE) -- Greenridge Exploration Inc. (“Greenridge” or the “Company”) (CSE: GXP | FRA: HW3), is pleased to announce it has undertaken a detailed 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 4,036 hectares near the Northern Tip of the Yathkyed Basin, a sub-basin of the Thelon Basin (Please see Figure 1).
Russell Starr, Chief Executive Officer of the Company, commented, “We continue to unveil more exciting geological information at the Nut Lake Uranium Project. The Thelon Basin and sub basins are extremely underexplored compared to the world renowned Athabasca Basin just to the south. With a sound database of historical work, including both high grade surface sampling and near surface drilling, it is giving us a clear route to build upon the historical success using new technology and expanding on our deposit model.”
Historical Showings, Geology & Various Surveys Completed at The Nut Lake Property
Greenridge Exploration Inc.
Figure 1 – Localized Nut Lake Property Geology Map. Source GSC Open File 4236. Abbreviations: PDs – Proterozoic Dubawnt Sediments, Agn / Ar-gn – Archean granitic rocks, Pt-g – Undivided Granites
Historical Showing Highlights
Historical exploration undertaken by Pan Ocean in 1979 conducted over the large regional grid resulted in the discovery of four prospects/showings on the Nut Lake Property (Please see Figure 1).
Tundra Showing
Discovered in July 1977 and named the Tundra showing due to its proximity to a syenite U3O8 anomaly on the lakeshore.
Hole Winkie AX W-24 intersected 9ft of 0.69% U3O8 including 4.90% U3O8 over 1ft from 8ft depth¹.
Drilling extended the depth of mineralization to 20 feet vertically below the surface.
The structure appears to steepen with depth to about 80-85°.
A total of 17 holes amounting to 568 ft. of drilling were completed.
Heartbreak and Lakeshore Showings
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 respectively.
Fracture descriptions and assay results indicate significant mineralization potential.
Frost heave on the surface suggests a potential strike length for the fractures.
Lake Showing
Two noteworthy grab samples yielded 0.32% and 0.15% U3O8.
The Lake showing was located through general prospecting and is situated beside a biotite feldspar trachyte dike.
It comprises numerous anomalous fractures containing chloritic mafic alterations, sulphides, hematite, and uranium mineralization.
Some fractures cut across the felsic to mafic gneiss host rock, while others run subparallel to it.
This suggests that the mineralization and alteration may be controlled by fractures, with a foliation influence. It is likely that some of these fractures extend into the water.
Geology of The Nut Lake Project
Regionally, the Project lies along the eastern edge of the northeasterly trending wedge of Paleohelikian or Late Aphebian Dubawnt Group rocks and the contact with Archean basement gneisses. These units are in fault contact along a northerly trending fault zone. Dubawnt Group rocks within the area are 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 overlain by volcanic rocks of the Christopher Island Formation, including trachytic lithic and crystal tuffs and mafic to felsic trachyte flows.
Archean gneisses are generally granitic to granodioritic in composition, with thin inter-layered bands of paragneiss or amphibolite. Syenites within the area are predominantly red, aphanitic, microsyenite, with some hornblende syenite locally. Microsyenite dikes intrude all other rock types along a northerly trend, exhibiting varying degrees of brecciation, especially near fault zones. These rocks contain variable amounts of magnetite, chlorite, disseminated hematite, and pyrite, with accessory zircon noted. The microsyenites are the most radioactive rocks in the area, containing an average of 100 ppm U, with uranium believed to be bound up in refractory minerals¹ (Please see Figure 1).
Surveys Completed at the Nut Lake Project
An abundance of both Government and industry geological / geophysical / hyperspectral surveys have been conducted over the Project area including: a regional residual magnetic geophysical survey conducted by the Geological Survey of Canada in 20113; a property scale VLF-EM and Magnetometer survey carried out by Pan Ocean in 1979¹; and a hyperspectral survey carried out in 2023 by the vendors of the Project.
Lines for the 1979 geophysical surveys were spaced 100m apart with 24m to 50m station intervals.
VLF-EM Survey
Several interesting anomalies resulted from the survey including a pattern indicating a north-northwesterly trending structure of interest.
Anomalies are likely related to a fault zone, continuous with a VLF-EM anomaly.
A major anomaly was identified from “L14W to L2S and 14E to 19E”. This anomaly is not known to be related to any specific feature and should be followed up on.
Identification of north trending anomalies which may be related to structural or lithological features.
Magnetometer Survey
Magnetic anomalies show less distinct north to northwesterly trends compared to VLF-EM map.
Anomalies in northwest section related to syenitic intrusive rocks.
Irregular pattern in this area possibly due to close-spaced dikes and lenses of mafic gneiss.
A gravity survey is recommended to pair with both surveys moving forward.
Greenridge Exploration Inc.
Figure 2 - Regional Magnetics showing a strong NE-SW trending Fault3
Hyperspectral Survey
Helium is a decay product of Uranium and is an exploration vector for buried uranium deposits. Helium is released as a “daughter” product of radioactive decay as uranium breaks down into other elements. As helium is a very light element it migrates through the overburden and into the atmosphere. Where the release of helium is concentrated enough, it will have a spectral signature in specific wavelengths that can be seen by satellite sensors. These are in the Visible-Near Infra-Red (VNIR) and Short Wave Infra-Red (SWIR) wavelengths parts of the spectrum. The Sentinel-2 satellite data contains spectral bands which can be processed to identify areas with an anomalous helium spectral signature. A stronger spectral signature in the helium wavelength could be due to a buried radioactive source (Please see Figure 3).
The survey identified 2 clusters with anomalous spectral responses that are coincident with a northeast-trending structure identified by geophysical surveys.
These two target areas have not historically seen extensive exploration, and therefore warrant ground truthing to explain the helium response.
Greenridge Exploration Inc.
Figure 3 - Hyperspectral Survey
About The Nut Lake Property
The Project is located approximately 55km north of the Angulak Uranium Deposit² 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% Ni¹.
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 6920ft of diamond drilling completed on it. Multiple holes intersected significant uranium mineralization, with the most noteworthy being at the “Tundra Showing” Hole Winkie AX W-24 intersected 9ft of 0.69% U3O8 including 4.90% U3O8 over 1ft from 8ft depth¹. 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.
References
1Source: 1978 Assessment report (number 81075) by Pan Ocean Oil Ltd
2Source: 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).
3Source: Tschirhart, V. L., Morris, W. A. & Oneschuk, D. (2011). Geophysical series, geophysical compilation project, Thelon Basin, Nunavut, NTS 66A, B, and parts of 65N, O, P, 66C, F, G and H. Geological Survey of Canada, Open File, 6944, https://doi.org/10.4095/288806.
4Source: Wilkinson, L. & Brown, N. (2000). Selected geoscience data from the Western Churchill NATMAP Project, Kivalliq Region, Nunavut - Volume II. Geological Survey of Canada, Open File, 3749, https://doi.org/10.4095/211855.
National Instrument 43-101 Disclosure
Nicholas Rodway, P. Geo, (NAPEG Licence # L5576) is a qualified person as defined by National Instrument 43-101- Standards of Disclosure for Mineral Projects. Mr. Rodway has reviewed and approved the technical content in this release.
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 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 depth¹. 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; and 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.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/bdf3181c-fde3-418c-aa13-f6a65418acf2https://www.globenewswire.com/NewsRoom/AttachmentNg/5beffd94-303b-4074-bbf6-a18fc0793b5fhttps://www.globenewswire.com/NewsRoom/AttachmentNg/571bbdc4-e39c-4c01-9c0b-ff0377361aaa
Purepoint Uranium Discovers New Lightning Zone Grading 0.29% U3O8 over 0.9 Metres as It Completes 2024 Winter Drill Program at Hook Lake Joint Venture
https://www.newsfilecorp.com/release/204190
April 04, 2024 6:30 AM EDT | Source: Purepoint Uranium Group Inc.
Toronto, Ontario--(Newsfile Corp. - April 4, 2024) - Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF
Standard Uranium Provides Exploration Activities Update on the Sun Dog Project, Northwestern Athabasca Basin
https://ca.finance.yahoo.com/news/standard-uranium-provides-exploration-activities-120000597.html
Standard Uranium Ltd.
Wed, April 3, 2024 at 5:00 a.m. PDT·5 min read
STTDF
-3.54%
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VANCOUVER, British Columbia, April 03, 2024 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to provide an update on exploration activities on the 19,604-hectare Sun Dog Project (“Sun Dog” or “the Project”), currently under a three-year earn-in option agreement with Aero Energy Ltd. (“Aero”) (TSX-V: AERO).
The Company is pleased to confirm the start of an airborne VTEM™ (Versatile Time-Domain Electromagnetic) Plus survey aimed at detecting structural corridors of electrically conductive graphite-rich rocks that are the favoured targets for large basement-hosted uranium deposits (As announced by Aero Energy on March 26th, 2024). The survey is being carried out by Geotech Ltd. of Aurora, Ontario.
Additionally, the Company is pleased to announce the engagement of drilling contractor Team Drilling LP of Saskatoon, SK for the planned Spring/Summer exploration program at the Project, situated on the northern rim of the Athabasca Basin.
Highlights:
Expansive and Detailed Survey: The survey will cover the entirety of the Sun Dog project and consist of 3,350 km of flight lines in a grid pattern with 100 m spacing between each flight line. This will allow for prioritization of existing drill targets and generation of additional drill targets.
Cutting Edge Approach: This survey represents one important modern tool that the technical team is utilizing to maximize high-grade1 uranium discovery efficiency. Much of the survey area is unexplored and unsurveyed by modern methods.
Shallow Drill Targets: The 2024 drill program aims to cover significant ground, focusing on the most promising of the dozens of shallow targets identified in collaboration with the Aero joint technical committee.
Fully Funded: Summer drill plans comprise helicopter-supported diamond drilling across the project, focused on high-priority targets refined by the current geophysical work. Specific details on targets and the number of planned holes will be shared as they are finalized in the coming weeks.
1The Company considers uranium mineralization with concentrations greater than 1.0 wt% U3O8 to be “high-grade”.
“The Aero technical team and I are thrilled to provide these updates to the market as we quickly move towards kicking off our ambitious 2024 exploration season,” said Sean Hillacre, President & VP Exploration for the Company. “We eagerly anticipate receiving the new EM data and will be putting it to work immediately as we refine our high-priority drill targets for this summer. Securing reliable and leading contractors to complete the work is a great step forward as we look to unlock the potential in the Uranium City district with modern exploration techniques.”
Figure 1.
Figure 1. Overview of the Northwestern Athabasca Uranium District highlighting the Sun Dog Project and leading land position held by and under option to Aero Energy Ltd.
The Project is currently under option (the “Option”) to Aero Energy Ltd. (the “Optionee”) an arms-length company (TSX-V: AERO). Pursuant to the Option Agreement, the Optionee will be granted the option to acquire 100% of the Company’s 19,604-hectare Sun Dog Project located along the northwestern edge of the Athabasca Basin, by completing three years of exploration programs and a series of cash and equity payments. Sun Dog is also subject to a 2% net smelter royalty which may be reduced to 1% for a $1,000,000 cash payment to the Company.
Survey Description and Background
The helicopter-borne VTEM™ Plus system, which is known for its high-resolution imaging capabilities, is a time domain electromagnetic system that is particularly useful for its ability to detect conductive materials deep underground, enabling Aero to identify mineral targets with exceptional precision. Additionally, the system also contains a high sensitivity cesium magnetometer-gradiometer for the mapping of geologic structure and lithology. The Company is leveraging this cutting-edge technology to reveal and refine previously unexplored, high-hosted basement-style targets within the Uranium City district. This comprehensive survey aims to build on previously gathered data to create a full-picture of the site's geological structures and mineral prospects. The VTEM™ Plus survey is expected to be completed within three to four weeks, with preliminary results to be published shortly thereafter.
The scientific and technical information contained in this news release has been reviewed, verified, and approved by Sean Hillacre, P.Geo., President and VP Exploration of the Company and a “qualified person” as defined in NI 43-101.
About Standard Uranium (TSX-V: STND)
We find the fuel to power a clean energy future
Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in the world’s richest uranium district. The Company holds interest in over 209,867 acres (84,930 hectares) in the world-class Athabasca Basin in Saskatchewan, Canada. Since its establishment, Standard Uranium has focused on the identification, acquisition, and exploration of Athabasca-style uranium targets with a view to discovery and future development.
Standard Uranium has successfully completed four joint venture earn in partnerships on their Sun Dog, Canary, Atlantic and Ascent projects totaling over $31M in work commitments over the next three years from 2024-2027.
Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, comprises ten mineral claims over 30,737 hectares. Davidson River is highly prospective for basement-hosted uranium deposits due to its location along trend from recent high-grade uranium discoveries. However, owing to the large project size with multiple targets, it remains broadly under-tested by drilling. Recent intersections of wide, structurally deformed and strongly altered shear zones provide significant confidence in the exploration model and future success is expected.
Standard Uranium’s eight eastern Athabasca projects comprise thirty mineral claims over 32,838 hectares. The eastern basin projects are highly prospective for unconformity related and/or basement hosted uranium deposits based on historical uranium occurrences, recently identified geophysical anomalies, and location along trend from several high-grade uranium discoveries.
Standard Uranium's Sun Dog project, in the northwest part of the Athabasca Basin, Saskatchewan, is comprised of nine mineral claims over 19,603 hectares. The Sun Dog project is highly prospective for basement and unconformity hosted uranium deposits yet remains largely untested by sufficient drilling despite its location proximal to uranium discoveries in the area.
For further information contact:
Jon Bey, Chief Executive Officer, and Chairman
Suite 918, 1030 West Georgia Street
Vancouver, British Columbia, V6E 2Y3
Tel: 1 (306) 850-6699
E-mail: info@standarduranium.ca
Cautionary Statement Regarding Forward-Looking Statements
This news release contains “forward-looking statements” or “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements include, but are not limited to, statements regarding: the timing and content of upcoming work programs; geological interpretations; timing of the Company’s exploration programs; and estimates of market conditions.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements are highlighted in the “Risks and Uncertainties” in the Company’s management discussion and analysis for the fiscal year ended April 30, 2023.
Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company’s actual financial results, performance, or achievements to be materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop forward-looking statements include, without limitation: that the transaction with the Optionee will proceed as planned; the future price of uranium; anticipated costs and the Company’s ability to raise additional capital if and when necessary; volatility in the market price of the Company’s securities; future sales of the Company’s securities; the Company’s ability to carry on exploration and development activities; the success of exploration, development and operations activities; the timing and results of drilling programs; the discovery of mineral resources on the Company’s mineral properties; the costs of operating and exploration expenditures; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); uncertainties related to title to mineral properties; assessments by taxation authorities; fluctuations in general macroeconomic conditions.
The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/44f3de5d-90fe-4154-a3de-13f402f1a810
C2C Metals Announces Acquisition of its Second United States Uranium Project
https://www.prnewswire.com/news-releases/c2c-metals-corp-announces-acquisition-of-its-second-united-states-uranium-project-302105293.html
C2C Metals Corp. 02 Apr, 2024, 07:30 ET
CSE: CTOC
www.c2cmetals.com
VANCOUVER, BC, April 2, 2024 /PRNewswire/ - C2C Metals Corp. (CSE: CTOC) (the "Company" or "C2C") reports today the acquisition of its second United States uranium project acquired through claim staking. The project was identified and drilled by URADCO in 1981 establishing a historic resource as detailed below. The Blue Jay Mine Project lies in San Juan County, Utah, and is located in the La Sal Uranium District which is recognized as the second most significant uranium producer in the Utah-Colorado region.
Figure 1 C2C Uranium Project Area Map (CNW Group/C2C Metals Corp.)
Chris Huggins, Chief Executive Officer stated: "The Blue Jay Mine Project is C2C's second uranium project as we continue to delve into the private mining database. The Blue Jay is another excellent example of high value uranium properties that have been neglected for over 40 years. Having access to an extensive database allows C2C to capitalize on previous work that has outlined very promising areas with significant uranium mineralization. The project's mineralization remains open along trend to the west and offers excellent exploration potential."
Blue Jay Mine Uranium Property, San Juan County, Southeastern Utah
C2C's Blue Jay Mine Uranium Property comprises 28 mineral claims covering about 560 acres, located approximately 30 miles south of Moab, San Juan County, Utah, within the La Sal Uranium District. The claims are located about 2 to 3 miles northwesterly from three historic uranium producing mines, including the Rattlesnake Mine - one of the top four past producing uranium-vanadium mines in the La Sal District. The project area is also within, or adjacent to, the largest favorable channel trend in the western part of the La Sal Uranium Mining District, Utah, which hosts many of the largest uranium deposits in the La Sal District.
The claim area saw extensive drilling by URADCO, a subsidiary of Pennsylvania Power and Light Corp (PPL), with some drill sites still visible today. Using URADCO"s drill results from 22 holes, in March 1981, Atlas Minerals' Chief Mining Engineer prepared a preliminary economic evaluation for Atlas' President of a deposit on the property estimating about 110,000 pounds U3O8, at an average grade of about 0.25% U3O8, at depths of 330 to 360 ft. The Atlas report classified the uranium resources as "economically viable reserves." Other information in the Atlas historic records suggests there may be additional lower grade mineralization including 140,000 lbs. U3O8, on property covered by C2C's claims. The Atlas engineer also estimated the V2O5 deposit grade to be 1.25%, based on a historic V2O5:U3O8 ratio of 5:1 for the La Sal District, suggesting an estimated 550,000 lbs. V2O5 included with the estimated uranium resource. At the 1981 Atlas report date, the uranium market price had been falling precipitously, and Atas elected not to acquire the URADCO drilled property. The estimated uranium mineral resources in the Atlas Minerals report are historic in nature and do not conform to the resource reporting terminology as defined in NI 43-101.
The La Sal Uranium-Vanadium District is identified as having Utah's second highest potential for the discovery of additional uranium reserves. C2C's 28 claims including the historic Blue Jay Mine Portal, are also located in an area identified as having "high exploration potential," by the Utah Geological Survey in its report "Uranium Potential in Utah1."
The sandstone-type uranium-vanadium mineralization at the Blue Jay Mine Property is hosted within the upper most sandstone "rim" of the Salt Wash Member of the Jurassic age Morrison Formation. The uranium mineralization on the claims is typical of the Sandstone uranium deposits of the Salt Wash type, of the Colorado Plateau Province. A major characteristic of the Salt Wash type deposits is the occurrence of vanadium together with the uranium, with vanadium usually occurring in higher concentrations than uranium, making them different from the Wyoming and New Mexico uranium deposits, which routinely have very low concentrations of vanadium.
Based on the historic information from the Atlas Minerals' report, C2C's exploration target for the property is between 100,000 and 250,000 lbs. U3O8, at an estimated average grade ranging from 0.15% to 0.25% U3O8, at depths between 330 and 360 ft. The target deposit is conceptional in nature and should not be relied upon by the reader. A Qualified Person (as defined in NI 43-101) has not done sufficient work to verify the historical information on which the conceptual exploration target is based. Additional work, including drilling, will be required to confirm the presence of uranium, and if present, to establish the amount and grade of any mineralization that is found. C2C is not treating the historical information as reliable, and it should not be relied upon.
The technical content concerning the Property in this news release was reviewed and approved by Dr. Douglas H. Underhill, CPG, Chief Geologist for C2C Metals Corp., a Qualified Person as defined by National Instrument 43-101.
About C2C Metals Corp.
C2C Metals is a mineral exploration company which holds a portfolio of uranium, gold and copper projects in the United States and Canada.
1 Gloyn, R.W., and Ken Krahulec, 2005, "Uranium Potential in Utah," Utah Geological Survey, Salt Lake City, Utah, 54 p.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties and can be identified by the use of forward-looking terminology such as "expected", "will be", "anticipated", "may" or variations of such words and phrases or statements that certain actions, events or results "will" occur. All statements within, other than statements of historical fact, are to be considered forward looking. Forward-looking statements in this news release include but are not limited to: the completion of the name change. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
SOURCE C2C Metals Corp.
MegaWatt Enters into Share Exchange Agreement to Acquire Labrador Mineral Resources Inc.
https://ca.finance.yahoo.com/news/megawatt-enters-share-exchange-agreement-120000373.html
MegaWatt Lithium and Battery Metals Corp.
Mon, April 1, 2024 at 5:00 a.m. PDT·5 min read
WALRF
0.00%
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia, April 01, 2024 (GLOBE NEWSWIRE) -- MegaWatt Lithium and Battery Metals Corp. (CSE:MEGA) (FSE: WR20) (OTCQB: WALRF) (the "Company" or "MegaWatt") announces, it has entered into a share exchange agreement dated effective April 1, 2024 (the “Share Exchange Agreement”) among the Company, Labrador Mineral Resources Inc. (“Labrador”), a private company existing under the laws of British Columbia, and the shareholders of Labrador (the “Shareholders”), pursuant to which, subject to regulatory approval, the Company will acquire all of the issued and outstanding shares of Labrador (the “Proposed Transaction”). Labrador purchased a 100% interest (subject only to a 1.5% NSR) in the Benedict Mountains Uranium Property located on the east coast of Labrador approximately 200 km NR of Goose Bay (the “Property”), pursuant to a Property Purchase Agreement dated effective February 8, 2024, between Labrador and the former registered and beneficial owner of the Property (the “Property Purchase Agreement”). Pursuant to the Share Exchange Agreement, the Company will assume all of the obligation of Labrador under the Property Purchase Agreement, including the cash payment contemplated therein.
The Proposed Transaction
Pursuant to the terms and conditions of the Share Exchange Agreement and on the date of closing (the “Closing Date”) of the Proposed Transaction, MegaWatt will acquire all of the issued and outstanding shares of Labrador (the “Labrador Shares”) in consideration for the issuance of 16,275,001 common shares in the capital of the Company (the “MegaWatt Shares”) pro rata to the Shareholders at a deemed price of $0.13 per MegaWatt Share. There are currently 16,275,001 Labrador Shares and no convertible securities of Labrador outstanding. Upon closing of the Proposed Transaction, the capitalization of MegaWatt will consist of 36,483,733 MegaWatt Shares, 501,600 MegaWatt warrants and 620,000 options to acquire MegaWatt Shares. Current Labrador Shareholders will own approximately 44.61% of the combined company on a non-diluted basis, and approximately 43.28% on a fully-diluted basis.
In addition, pursuant to the terms of the Property Purchase Agreement to be assumed by the Company, the Company will make a cash payment of $25,000 by March 2025. The Property is subject to a royalty equal to 1.5% of net smelter returns upon commencement of commercial production and such royalty may be reduced from 1.5% to 0.5% by the payment of $1,000,000.
The Proposed Transaction remains subject to certain closing conditions including, without limitation, (a) the receipt by the Company of all necessary corporate and regulatory approvals, including the approval of the Canadian Securities Exchange (the “CSE”), as applicable; and (b) each party's representations and warranties in the Share Exchange Agreement being true and correct in all aspects as of the Closing Date, and each party meeting its terms and conditions and completing its covenants and obligations as contained therein. There can be no guarantees that the Proposed Transaction will be completed as contemplated or at all.
The Proposed Transaction is an arm’s length transaction and no change in management, or the Board of Directors of the Company is being contemplated at this time. No finder’s fees are expected to be paid in connection with the Proposed Transaction. The Proposed Transaction is anticipated to close as soon as reasonably practicable, and in any case, before June 30, 2024.
About MegaWatt Lithium and Battery Metals Corp.
MegaWatt is a British Columbia based company involved in the acquisition and exploration of mineral properties in Canada. The Company holds a 100% undivided interest, subject to a 1.5% NSR on all base, rare earth elements and precious metals, in the Cobalt Hill Property, consisting of eight mineral claims covering an area of approximately 1,727.43 hectares located in the Trail Creek Mining Division in the Province of British Columbia, Canada.
Additionally, the Company has acquired a 100% interest in a company that indirectly holds a 100% interest (subject to a 2% NSR) in two prospective silver-zinc projects in Australia, being the Tyr Silver Project and the Century South Silver-Zinc Project (see press release dated October 15, 2020), an indirect 100% interest (subject to a 1% NSR) in and to certain mining tenements in Northern Territory and New South Wales, Australia prospective for nickel-cobalt-scandium and rare earth elements.
The Company holds a 100% interest (subject to a 2% NSR) in and to the Route 381 Lithium Property, comprised of 40 mineral claims located in James Bay Territory, north of Matagami in the Province of Quebec, covering 2,126 hectares (see press release dated February 3, 2021) and a 100% interest in 229 additional mineral exploration claims prospective for lithium, also in the James Bay area of Quebec covering an area of 12,116 hectares or 121 square kms.
Investors can learn more about the Company and team at https://megawattmetals.com.
Related Links
https://megawattmetals.com
The CSE does not accept responsibility for the adequacy or accuracy of this release.
The securities to be issued in connection with the Proposed Transaction have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.
This press release includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These forward-looking statements or information may relate to the potential acquisition of Labrador, including, the closing of the Proposed Transaction on the terms described herein or at all, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
FOR FURTHER INFORMATION PLEASE CONTACT:
Kelvin Lee, Chief Financial Officer
kelvin @qtips - greasy ear spammer
Tisdale Clean Energy Completes First Two Drill Holes at the South Falcon East Uranium Project, Athabasca Basin, Saskatchewan
https://thenewswire.com/press-releases/1Av7FGJEE-tisdale-clean-energy-completes-first-two-drill-holes-at-the-south-falcon-east-uranium-project-athabasca-basin-saskatchewan.html
Vancouver B.C. - TheNewswire - April 1, 2024 – TISDALE CLEAN ENERGY CORP. (“Tisdale” or the “Company”) (TSXV:TCEC), (OTC:TCEFF), (FSE:T1KC), is pleased to provide an update on the phase one diamond drill program recently conducted at the South Falcon East Uranium Project, which hosts the Fraser Lakes B uranium deposit.
The 12,464-ha South Falcon East Project lies 18 km outside the edge of the Athabasca Basin, approximately 50 km east of the Key Lake uranium mill and former mine (Figure 1). Tisdale Clean Energy Corp entered into an option agreement with Skyharbour Resources Ltd in October of 2022 whereby the company can earn up to a 75% interest in the South Falcon East property.
This initial 2024 program is scheduled to complete up to 1500m of drilling in two phases, with the priority being the confirmation of existing mineralization. Follow-up drill programs will then be pursued to both facilitate expansion of the known Fraser Lake B deposit and to test multiple additional high-priority exploration targets at South Falcon East (Figure 2).
Phase one included 442m drilled in the first two drill holes. Hole SF-0059 was completed to a depth of 221m and intersected multiple zones of uranium mineralization over 13.5m, confirming the presence of mineralization in the vicinity of historical hole FP-15-05 (see below). Mineralization occurs within altered pelitic gneiss containing granitic pegmatites, overlying graphitic pelitic gneiss.
Highlights include:
0.02% eU over 5.6 m from 129.65 to 135.25 m, including:
0.07% eU over 1.1 m from 131.75 to 132.85 m. This included a 0.2 m interval grading 0.11% eU
0.03% eU over 4.1 m from 137.65 to 141.75 m, including:
0.11% eU over 0.2 m from 138.15 to 138.35m
0.05% eU over 0.2 m from 139.55 to 139.75m
0.06% eU over 0.2 m from 141.35. to 141.55m
The second drill hole of the program, SF-0060, was targeted to test for an extension of the mineralization in FP-15-05 along strike 25m to the Northeast of the mineralized intercept of FP-15-05. Hole SF-0060 was completed to a depth of 221m. Several zones of mineralization were also encountered, below 132m, with the best intersection occurring within altered pelitic gneiss containing graphite and granitic pegmatites.
This zone is highlighted by:
0.02% eU over 1.3 m from 142.15 to 143.45 m, including:
0.05% eU over 0.1 m from 142.55 to 142.65 m.
“We’re pleased to see uranium values comparable to the grades of the known resource in the first drill two drill holes completed on the property in nearly a decade,” said Alex Klenman, CEO. “This is what we need to see as we confirm then pursue expansion. We are starting with a historical resource of nearly 7 million pounds of uranium contained in a shallow deposit. The opportunity we have here is exceptional, certainly unique for a company with our market cap, and we believe we’re just scratching the surface in terms of what can be achieved at South Falcon East,” continued Mr. Klenman.
“We are encouraged to be intersecting the expected mineralization near the previous drilling at South Falcon East,” commented Trevor Perkins, Consulting Geologist for Tisdale. “This confirmation of existing mineralization is a necessary first step to expanding the Fraser Lakes B @hUranium Deposit,” continued Mr. Perkins.
Samples of the mineralized intervals within the drill core have been collected and shipped for analysis at the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon, Saskatchewan. The Company will provide more detailed results once geochemical analysis of the collected drill core samples is completed, reviewed, and confirmed.
The results of these two drill holes confirm the presence of mineralized pegmatites and pelitic paragneiss within the deposit and project area. Graphitic pelitic paragneiss are the key lithology associated with uranium deposits within the eastern Athabasca Basin and are a good indication that additional pegmatite deposits as well as basement hosted unconformity related uranium deposits may be present along the Way Lake Conductor, within the South Falcon East claim boundaries.
Drilling at South Falcon East is scheduled to resume later this spring. The Company will release details on the dates of mobilization and drill commencement once they are confirmed. Phase two drilling will again be conducted by Terralogic Exploration Inc. under the supervision of Laura Tennent, Project Manager with TerraLogic Exploration, and C. Trevor Perkins, lead geologist for Tisdale. The drill program is operating out of Skyharbour’s McGowan Lake Camp with helicopter support for the daily drilling operations.
Historical Drill Hole FP-15-05
Historical diamond drill hole FP-15-05 was drilled by Skyharbour Resources in 2015 and returned multiple zones of mineralization over a 14m interval, including 6m of .10% U308 (including a 2m interval of 0.165% U3O8 (from 135m) and 2.5m of 0.172% U3O8 (from 145m). This is the best intersection to date on the property and along the Way Lake conductive trend.
This hole, it should be noted, had to be abandoned due to equipment issues at 165m within the mineralized zone, leaving steel drill rods throughout the hole. Tisdale’s initial drill hole, SF-0059, was planned to twin historical hole FP-15-05. Modifications were made to accommodate the presence of the material left behind in the hole and adjustments made to mitigate a lack of precision in tracing of FP-105-05, as no downhole orientation surveys were able to be completed, and any potential downhole deviation was unable to be determined. As a result, a larger separation and step forward was required, as well as the use of non-magnetic downhole orientation survey equipment. SF-0059 was therefore located 2.0m forward (in front, up-dip) of FP-15-05 to ensure no interference.
Click Image To View Full Size
Figure 1: South Falcon East Project Location – Eastern Athabasca Basin, Saskatchewan, Canada
Use of Radiometric Equivalent Grades
Drillholes are logged for in-situ radioactivity using a calibrated Mount Sopris Triple Gamma probe which collects continuous readings along the length of the drillhole. The probe records the amount of radioactivity present in the rock adjacent to the probe as it moves up and down the hole. Preliminary radiometric equivalent grades (% eU3O8) are then calculated from the downhole radiometric results using an algorithm derived from the calibration of the downhole probe equipment. The Triple Gamma probe was calibrated prior to the commencement of the current drill program at the Saskatchewan Research Council test pit facility in Saskatoon, Saskatchewan.
Using down-hole probes to calculate radiometric equivalent grades is a common practice used by uranium exploration and mining companies in the Athabasca Basin. Tisdale will report radiometric equivalent grades as a preliminary result indicative of intersected mineralization pending the receipt of definitive assay grades once geochemical analysis of collected drill core samples from the mineralized intervals are complete. The samples will be analyzed at the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon, Saskatchewan.
Click Image To View Full Size
Figure 2: 2024 Drill Target areas at the south Falcon East Uranium Project
Click Image To View Full Size
Figure 3: 2024 Drill location map in relation to FP-15-05 and the Way Lake Conductor.
About the South Falcon East Project
The South Falcon East Project is a uranium exploration project in the southeast Athabasca Basin and represents a portion of Skyharbour Resources Ltd.’s existing South Falcon Project. The project covers approximately 12,464 hectares and lies 18 kilometers outside the Athabasca Basin, approximately 50 kilometers east of the Key Lake Mine.
The South Falcon East Project contains the Fraser Lakes B Uranium/Thorium Deposit with a historic mineral resource* of 6.9 Mlbs U3O8 inferred at a grade of 0.03% U3O8 and 5.3 Mlbs ThO2 inferred at a grade of 0.023 % ThO2. Uranium and thorium mineralization discovered to date is shallow classic Athabasca-style basement mineralization associated with well-developed EM conductors. The exploration potential of the Fraser Lakes target area is considered exceptional, including the historical resource expansion potential of the current deposit at Zone B.
About Tisdale Clean Energy Corp.
Tisdale Clean Energy is a Canadian-based uranium exploration and development company. The Company is currently developing the South Falcon East uranium project, which holds a 6.96M pound inferred uranium resource within the Fraser Lakes B uranium/thorium deposit, located in the Athabasca Basin region, Saskatchewan, Canada.
Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by C. Trevor Perkins, P.Geo., Lead Geologist for the Company, and a Qualified Person as defined by National Instrument 43-101.
*The historical resource is described in the Technical Report on the South Falcon East Property, filed on sedar.com on February 9, 2023. The Company is not treating the resource as current and has not completed sufficient work to classify the resource as a current mineral resource. While the Company is not treating the historical resource as current, it does believe the work conducted is reliable and the information may be of assistance to readers.
ON BEHALF OF THE BOARD OF TISDALE CLEAN ENERGY CORP.
“Alex Klenman”
Alex Klenman, 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.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.
For further information please contact:
Alex Klenman, CEO
Tel: 604-970-4330
info@tisdalecleanenergy.com
Tisdale Clean Energy Corp
Suite 2200, HSBC Building, 885 West Georgia St.
Vancouver, BC V6C 3E8 Canada
www.tisdalecleanenergy.com
Global Atomic Announces 2023 Results and publishes Dasa Uranium Project Feasibility Study
https://www.newswire.ca/news-releases/global-atomic-announces-2023-results-and-publishes-dasa-uranium-project-feasibility-study-822565477.html
Global Atomic Corporation Mar 27, 2024, 20:53 ET
Dasa Uranium Project Remains on Schedule to Produce Yellowcake in Q1 2026
TORONTO, March 27, 2024 /CNW/ - Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12)
Kraken Energy Confirms Elevated Radioactivity in Both Initial Drill Holes at Harts Point Property, Utah
Drill hole HP24-002 Intersects a continuous 2.4 m (7.9 ft) interval with downhole probe readings ranging up to 2,162 cps
https://www.newsfilecorp.com/release/203107
March 26, 2024 8:00 AM EDT | Source: Kraken Energy Corp.
Vancouver, British Columbia--(Newsfile Corp. - March 26, 2024) - Kraken Energy Corp. (CSE: UUSA) (OTCQB: UUSAF) (FSE: F2C) (the "Company" or "Kraken") is pleased to report that the Company has completed its maiden drilling program at the Harts Point Uranium Property ("Harts Point" or the "Property") in San Juan County, Utah.
The Phase I drilling program tested two targets spaced 5 kilometers ("km") (3.12 miles) apart, focused on confirming the presence of uranium mineralization indicated by radiometric anomalies in three historic oil wells on the Property.
"Our team is very pleased with the initial results from our maiden drilling program at Harts Point," stated CEO Matthew Schwab. "With the discovery of Lisbon Valley originating from the initial drilling of 7 holes over a strike length of 1.5 km, where only 3 drill holes intersected radioactivity, it gives us great confidence in the Property after drilling only two holes over a 5 km distance and intersecting elevated radioactivity in both."
"We look forward to continuing our work in Utah as we move forward with advanced exploration across our portfolio of exciting properties and look to capitalize on the project's exceptional potential to discover a trend of high-grade uranium deposits located within a pro-mining jurisdiction."
Downhole Gamma Probe Results:
Drillhole HP24-001 intersected a total of 12.9 meters (m) (42.3 feet ("ft")) of elevated radioactivity with downhole probe readings from 252 counts per second ("cps") up to 653 cps from 151.5 to 421.5 m (497.0 to 1,382.8 ft)
Including 270 to 653 cps over 1.0 m (3.2 ft) from 415.1 to 416.1 m (1,361.9 to 1,365.1 ft)
Drillhole HP24-002 intersected a total of 16.2 m (53.1 ft) of elevated radioactivity with downhole probe readings from 252 cps up to 2,162 cps from 107.8 to 390.4 m (353.6 to 1,280.7 ft)
Including 263 to 2,162 cps over 2.4 m (7.9 ft) from (1,261.2 to 1,269.1 ft)
* Background gamma readings through non-elevated zones typically range from 10-150 cps on the borehole gamma probe
"We're thrilled that our Joint Venture Partner, Kraken Energy has successfully completed their maiden drilling program at our Harts Point project in Utah. The discovery of uranium on the Harts Point anticline marks a pivotal moment in Colorado Plateau exploration as it validates our theory that uranium is not solely confined to the Lisbon Valley anticline indicating other known salt anticlines are also prospective for uranium. This success of the phase 1 program underscores the commitment of our combined Technical team's ability to find and explore previously overlooked potential uranium deposits on the plateau." - Clive Massey, President & CEO, Atomic Minerals Corp.
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 with Local Uranium Occurrences
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8684/203107_c58e2e96c4f12b2e_001full.jpg
Stock Option Grant:
The Company also announces that it has granted incentive stock options to purchase a total of 700,000 common shares at an exercise price of $0.20 per share for a period of five years, including 200,000 options to newly appointed director Marlis Yassin, 200,000 options to existing director Jesse Hahn, 200,000 options to existing investor relations firm Kin Communications (see the Company's news release dated December 20, 2022) and 100,000 options to Kin Communications' employee, Trenton Kwan as compensation for investor relations services, all in accordance with the provisions of the Company's stock option plan.
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.
Natural gamma radiation in the drill core that is reported in this news release was measured in counts per second (cps) using a Mount Sopris QL40-SGR-2G downhole spectral gamma tool. The Company considers greater than 250 cps on the downhole probe to be elevated radioactivity from the background radioactivity levels of 10 to 150 cps. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication for the presence of radioactive materials. All depth measurements reported are down-hole and true thicknesses are yet to be determined. Samples from the drill core are split in half on site in 0.25 to 0.50 m intervals. One half of the split sample will be submitted to American Assay Laboratories ("AAL") (an ISO-17025 accredited facility) in Reno, Nevada for lithogeochemical analysis using the "26 element 4 acid + Boric Acid digestion ICP-OES+MS" package.
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 a new 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 Energy has also recently 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 recently 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.
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