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Denison Confirms Superior Proposal for UEX Corporation
https://www.newswire.ca/news-releases/denison-confirms-superior-proposal-for-uex-corporation-890546521.html
Denison Mines Corp. Jul 29, 2022, 06:57 ET
TORONTO, July 29, 2022 /CNW/ - Denison Mines Corp. ("Denison" or the "Company") (TSX: DML) (NYSE American: DNN) has noted the disclosure made by Uranium Energy Corp. ("UEC") in its news release dated July 28, 2022. Denison hereby confirms that it has made a confidential proposal (an "Acquisition Proposal") to UEX Corporation ("UEX") to acquire all of the issued and outstanding shares of UEX. UEX has reported that its Board of Directors, in consultation with its legal and financial advisors, has determined that the Acquisition Proposal constitutes a "Superior Proposal" as defined in the Arrangement Agreement between UEC and UEX dated June 13, 2022 ("Original Agreement"). Denison understands that notice of such determination was provided to UEC on July 28, 2022. View PDF version
The non-binding Acquisition Proposal remains subject to the entering into of a definitive arrangement agreement ("Definitive Agreement") and any discussions with respect to a transaction remain subject to the terms of a non-disclosure agreement ("NDA") entered into between Denison and UEX. At this time, no Definitive Agreement has been consummated between Denison and UEX, and the completion of any such agreement would require the termination of the Original Agreement in accordance with its terms.
David Cates, President & CEO of Denison, commented: "We believe that an acquisition by Denison of UEX, and its assets in northern Saskatchewan, has the potential to benefit Denison shareholders – bolstering Denison's position as a leading uranium development and exploration Company with an unwavering focus on the advancement of high-grade uranium deposits in the Athabasca Basin region.
Importantly, an acquisition of UEX would allow Denison to consolidate 100% ownership in our flagship Wheeler River Project at an ideal time ahead of the anticipated final technical de-risking steps associated with the Feasibility Study in progress for the planned Phoenix In-Situ Recovery ("ISR") operation."
An acquisition of UEX has the potential to yield multiple benefits to Denison shareholders:
Consolidation of 100% ownership of Wheeler River – Wheeler River is host to the high-grade Phoenix and Gryphon uranium deposits and represents the largest undeveloped uranium project in the infrastructure-rich eastern portion of the Athabasca Basin region. The Company is actively advancing the Phoenix deposit, which is proposed as a low-cost ISR mining operation, through the environmental assessment and feasibility study processes. The results from the Pre-Feasibility Study completed for Wheeler River suggest that Phoenix has the potential to be one of the lowest cost uranium mining operations in the world. Denison currently has an effective 95% interest in
Wheeler River.
Consolidation of 100% ownership of JCU (Canada) Exploration Company, Limited ("JCU") – JCU holds a portfolio of twelve uranium project joint venture interests in Canada, including a 30.099% interest in the Millennium project (Cameco Corporation 69.901%), a 33.8118% interest in the Kiggavik project (Orano Canada Inc. 66.1882%), and a 34.4508% interest in the Christie Lake project (UEX 65.5492%). Denison currently has a 50% ownership interest in JCU.
Project Portfolio Suited to Denison's Abundant In-house Expertise – Denison has a Saskatoon-based technical team with abundant in-house expertise in the areas of exploration, project development, engineering, metallurgy, mining, plant operations, permitting and regulatory affairs, that is well suited to extract the maximum value possible, for our shareholders, from uranium exploration or development assets situated in the Athabasca Basin region.
There can be no assurance that a Definitive Agreement or any other agreement relating to the Acquisition Proposal will be entered into between Denison and UEX or that the Acquisition Proposal, and any transactions related thereto or any other similar transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.
About Denison
Denison is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. In addition to its effective 95% interest in the Wheeler River project, Denison's interests in the Athabasca Basin include a 22.5% ownership interest in the McClean Lake joint venture, which includes several uranium deposits and the McClean Lake uranium mill that is contracted to process the ore from the Cigar Lake mine under a toll milling agreement, plus a 25.17% interest in the Midwest Main and Midwest A deposits, and a 66.90% interest in the Tthe Heldeth Túé ("THT", formerly J Zone) and Huskie deposits on the Waterbury Lake property. The Midwest Main, Midwest A, THT and Huskie deposits are each located within 20 kilometres of the McClean Lake mill.
Through its 50% ownership of JCU, Denison holds additional interests in various uranium project joint ventures in Canada, including the Millennium project (JCU 30.099%), the Kiggavik project (JCU 33.8118%) and Christie Lake (JCU 34.4508%). Denison's exploration portfolio includes further interests in properties covering approximately 300,000 hectares in the Athabasca Basin region.
Denison is also engaged in post-closure mine care and maintenance services through its Closed Mines group (formerly Denison Environmental Services), which manages Denison's reclaimed mine sites in the Elliot Lake region and provides related services to certain third-party projects.
Follow Denison on Twitter: @DenisonMinesCo
Cautionary Statement Regarding Forward-Looking Statements
Certain information contained in this news release constitutes 'forward-looking information', within the meaning of the applicable United States and Canadian legislation concerning the business, operations and financial performance and condition of Denison.
Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes', or the negatives and/or variations of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur', 'be achieved' or 'has the potential to'.
In particular, this news release contains forward-looking information pertaining to the following: the existence and terms of the Acquisition Proposal, including the conditions and other rights and obligations of the parties and any potential benefits of such a transaction; expectations regarding the potential to enter into a Definitive Agreement and/or complete a transaction pursuant thereto; and expectations regarding its joint venture ownership interests and the continuity of its agreements with its partners.
Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Denison to be materially different from those expressed or implied by such forward-looking statements. For example, the conditions to the transactions may not be satisfied or the parties may negotiate terms materially different than disclosed herein. Denison believes that the expectations reflected in this forward-looking information are reasonable and no assurance can be given that these expectations will prove to be accurate and results may differ materially from those anticipated in this forward-looking information. For a discussion in respect of risks and other factors that could influence forward-looking events, please refer to the factors discussed in the Annual Information Form dated March 25, 2022 under the heading "Risk Factors". These factors are not, and should not be construed as being exhaustive.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Any forward-looking information and the assumptions made with respect thereto speaks only as of the date of this news release. Denison does not undertake any obligation to publicly update or revise any forward-looking information after the date of this news release to conform such information to actual results or to changes in Denison's expectations except as otherwise required by applicable legislation.
SOURCE Denison Mines Corp.
For further information: Please contact: David Cates, President and Chief Executive Officer, (416) 979-1991 ext 362; Mac McDonald, Executive Vice President and Chief Financial Officer, (416) 979-1991 ext 242
Skyharbour’s Partner Company Azincourt Energy Provides Update on Exploration and Drilling Plans for the East Preston Uranium Project
https://ca.finance.yahoo.com/news/skyharbour-partner-company-azincourt-energy-120000151.html
Skyharbour Resources Ltd
Thu, July 28, 2022 at 5:00 a.m.·10 min read
Vancouver, BC, July 28, 2022 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd.’s (TSX-V:SYH) (OTCQB:SYHBF) (Frankfurt:SC1P) (the “Company”) partner company Azincourt Energy (“Azincourt) is pleased to provide an update on its plans for its fully funded upcoming fall and winter field season at the East Preston Project in the Athabasca Basin, Saskatchewan, Canada.
Project Location – Western Athabasca Basin, Saskatchewan, Canada:
https://www.skyharbourltd.com/_resources/maps/Sky_EastPreston_20211209.jpg
The primary target area on the East Preston Project is the conductive corridors from the A-Zone through to the G-Zone (A-G Trend) and the K-Zone through to the H and Q-Zones (K-H-Q Trend). Drilling to date has confirmed that identified geophysical conductors comprise structurally disrupted zones that are host to accumulations of graphite, sulphides, and carbonates. Hydrothermal alteration, anomalous radioactivity, and elevated uranium have been demonstrated to exist within these structurally disrupted conductor zones.
Azincourt is planning an extensive drill program for the fall and winter of 2022-2023. The planned program will consist of approximately 6,000 metres of drilling in 20+ diamond drill holes. The priority will be to continue to evaluate the alteration zones and elevated uranium values identified in the winter of 2022 and reported in news releases dated March 29th, 2022, and July 13th, 2022.
The south end of the G-Zone responded well in the 2022 drill program. The structure and alteration within holes EP0030 and EP0037 warrant additional drilling to confirm target enhancement for follow-up in this area.
Drilling within the K-Zone will focus on expanding on the weak clay alteration and elevated uranium identified in hole EP0035. This is the only zone where alteration and structure resulted in poor ground conditions preventing completion of a drill hole. This is indicative of strong structure and alteration which are both good signs for possible uranium deposition. The alteration zone is still open along strike in both directions north and south.
Within the H-Zone, drilling will continue to evaluate the alteration zone and identify priority targets for additional focus. The thick structural package identified in this zone is a promising sign for extensive ground preparation to allow fluid pooling and uranium deposition. Holes will also be drilled between the H- and K- Zones to seek continuity between the zones and enhancement of the alteration and uranium present.
The Q-Zone remains untested, and Azincourt is eager to drill this zone during the 2023 program to evaluate the prospectivity of this target area.
“Up to this point, drilling has been quite wide spaced while we evaluate the various trends to identify the best areas to focus our efforts”, said Azincourt’s VP, Exploration Trevor Perkins. “While this will continue in the upcoming program, we also plan to narrow our focus and begin vectoring within the alteration zones and follow where the alteration and geochemistry is leading,” continued Mr. Perkins. Mobilization is anticipated to begin in December, with drilling to commence in January 2023.
While the A-G and K-H-Q trends are the primary focus, many additional trends and zones exist to the east and west of the primary trends on the East Preston property. These additional target areas will require ground geophysics to constrain conductor locations and drilling to properly evaluate their potential.
“We’re of course eager to get back on the ground at East Preston and follow up on the promising results from last winter,” said Azincourt’s CEO, Alex Klenman. “The more work we do, the more compelling East Preston becomes. We’ve gone from grass roots to the development of top-tier exploration targets on what is a large and highly prospective property. We have the right rocks, the right geochemistry, the right structures, and we’ve now produced evidence that uranium is present within large alteration zones. Step by step, we continue to progress East Preston in a very positive way. This next drill program is another important step towards our goal of meaningful discovery,” continued Mr. Klenman.
Permitting and Community Engagement:
The permitting process is underway to obtain authorization for the fall and winter 2022-2023 drill program at East Preston. Azincourt Energy continues to be engaged in regular meetings with the Clearwater River Dene Nation and other rights holders to ensure that concerns of the local communities are addressed with regards to the East Preston project. Azincourt looks forward to a continued close working relationship with CRDN and other rights holders to ensure that any potential impacts and concerns are addressed and that the communities can benefit from activities in the area through support of local business, employment opportunities, and sponsorship of select community programs and initiatives. Several members of the Clearwater River Dene Nation have been directly employed on site or to provide support and services to keep the camp and programs running.
About East Preston:
Skyharbour and Dixie Gold entered into an Option Agreement (the “Agreement”) with Azincourt whereby Azincourt had an earn-in option to acquire a 70% working interest in a portion of the Preston Uranium Project known as the East Preston Property. Azincourt has now earned their interest in the project by completing CAD $2.5 million in staged exploration expenditures and making a total of CAD $1 million in cash payments as well as issuing shares of Azincourt divided evenly between Skyharbour and Dixie Gold. Skyharbour retains a 15% interest in the East Preston Project.
Three prospective conductive, low magnetic signature corridors have been discovered on the property. The three distinct corridors have a total strike length of over 25 km, each with multiple EM conductor trends identified. Ground prospecting and sampling work completed to date has identified outcrop, soil, biogeochemical and radon anomalies, which are key pathfinder elements for unconformity uranium deposit discovery.
The East Preston Project has multiple long linear conductors with flexural changes in orientation and offset breaks in the vicinity of interpreted fault lineaments – classic targets for basement-hosted unconformity uranium deposits. These are not just simple basement conductors; they are clearly upgraded/enhanced prospectivity targets because of the structural complexity. The targets are basement-hosted unconformity related uranium deposits similar to NexGen’s Arrow deposit and Cameco’s Eagle Point mine. East Preston is near the southern edge of the western Athabasca Basin, where targets are in a near surface environment without Athabasca sandstone cover; therefore, they are relatively shallow targets but can have great depth extent when discovered. The project ground is located along a parallel conductive trend between the PLS-Arrow trend and Cameco’s Centennial deposit (Virgin River-Dufferin Lake trend).
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 by C. Trevor Perkins, P.Geo., Vice President, Exploration of Azincourt Energy, and a Qualified Person as defined by National Instrument 43-101.
About Skyharbour Resources Ltd.:
Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with fifteen projects, ten of which are drill-ready, covering over 450,000 hectares of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Uranium Project is Skyharbour’s recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade drill intercepts over a large property area with robust exploration upside potential. Furthermore, the Company owns a 100% interest in the South Falcon Point Uranium Project on the eastern perimeter of the Basin, which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. Skyharbour is actively advancing these projects through exploration and drill programs.
Skyharbour has a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project. Skyharbour also has a joint venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit.
Skyharbour has several active option partners including: ASX-listed Valor Resources on the Hook Lake Uranium Project whereby Valor can earn-in 80% of the project through CAD $3,500,000 in exploration expenditures, $475,000 in cash payments over three years and an initial share issuance; CSE-listed Basin Uranium Corp. on the Mann Lake Uranium Project whereby Basin Uranium can earn-in 75% of the project through $4,000,000 in exploration expenditures, $850,000 in cash payments as well as share issuances over three years; and CSE-listed Medaro Mining Corp. on the Yurchison Project whereby Medaro can earn-in an initial 70% of the project through $5,000,000 in exploration expenditures, $800,000 in cash payments as well as share issuances over three years followed by the option to acquire the remaining 30% of the project through a payment of $7,500,000 in cash and $7,500,000 worth of shares.
Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://www.skyharbourltd.com/_resources/images/SKY-SaskProject-Locator-20220324.jpg
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.
SKYHARBOUR RESOURCES LTD.
“Jordan Trimble”
Jordan Trimble
President and CEO
For further information contact myself or:
Riley Trimble
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
The securities offered 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 U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including the Private Placement. Although management 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 the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
NexGen 2021 Drilling Assay Results Confirm Uranium Mineralization Below Arrow At Depth and Commencement of 2022 Regional Exploration Program
https://ca.finance.yahoo.com/news/nexgen-2021-drilling-assay-results-103000202.html
Thu, July 28, 2022 at 3:30 a.m.·8 min read
VANCOUVER, BC, July 28, 2022 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG)
ValOre Commences Diamond Drill Program at Dipole Uranium Target, Angilak Property
https://ca.finance.yahoo.com/news/valore-commences-diamond-drill-program-110000341.html
ValOre Metals Corporation
Wed, July 27, 2022 at 4:00 a.m.·6 min read
VANCOUVER, British Columbia, July 27, 2022 (GLOBE NEWSWIRE) -- ValOre Metals Corp. (“ValOre”; TSX-V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today announced the commencement of a 4,500 metre (“m”) diamond drill program at ValOre’s 100% owned 59,483-hectare Angilak Property Uranium Project (“Angilak”), located in Nunavut Territory, Canada.
“2022 RC drilling at the Dipole and J4 West targets intersected high-grade, near-surface, basement-hosted uranium, and immediate follow-up is warranted in the core drilling program,” stated ValOre’s VP of Exploration, Colin Smith. “Two diamond drill rigs are at Dipole, with the first rig already drilling, and the second to commence within the week. Down-dip and along-strike core holes will test extensions to highly radioactive RC intercepts, including 65,535 CPS at ~30 m vertical depth (Dipole) and 22,146 CPS at ~36 m vertical depth (J4 West)”.
Angilak 2022 Diamond Drill Program Highlights:
4,500 m core drilling program to be conducted with 2 diamond drill rigs;
Dipole target – 3,000 m planned in 16 holes;
J4 West target – 1,500 m planned in 14 holes;
Program goal is to incorporate drill results into future resource estimates.
The 2022 Reverse Circulation (“RC”) drill program intersected near-surface radioactivity in 22 of 27 holes, with vertical depths of radioactive zones ranging from 7 to 110 metres, at the Dipole, Yat, and J4 West targets. Initial assay results from the completed RC drill program are expected in the first half of August, 2022.
For more information regarding the 2022 RC drill program, CLICK HERE for news release dated May 9, 2022, CLICK HERE for news release dated June 2, 2022, and CLICK HERE for news release dated June 15, 2022.
About Angilak
The 59,483-hectare Angilak Property is situated in the mining- and exploration-friendly Nunavut Territory, Canada, and has district-scale potential for uranium, precious and base metals. Since acquisition, ValOre has invested over CAD$55 million on resource delineation and exploration drilling (89,572 metres in 589 drill holes), metallurgy, geophysics, geochemistry, and logistics across the large land package. This work supported the development of the significant Lac 50 Trend NI 43-101 inferred uranium resource estimate (“Lac 50”).
The Lac 50 NI 43-101 Technical Report (effective date March 1, 2013) defined an inferred resource estimate which represents Canada’s highest-grade uranium resource outside of Saskatchewan, and one of highest-grade uranium resources on a global basis. Highlights include:
43.3 Mlbs U3O8 in 2,831,000 tonnes grading 0.69% U3O8. CLICK HERE for a summary table of the Lac 50 Trend inferred resource estimate;
Supported by 351 resource delineation drill holes totaling 62,023 metres (“m”);
Metallurgical results for Lac 50 demonstrate high uranium recoveries and rapid leach kinetics. See news releases: February 28, 2013, September 11, 2013 and February 27, 2014;
Lac 50 Trend is a 15 kilometre (“km”) by 3 km area with excellent potential for resource growth and new discoveries;
Uranium mineralization starts at surface, and has been drilled to 380 m vertical depth;
CLICK HERE for ValOre’s May 6, 2021 video summarizing the highlights of Angilak.
CLICK HERE for ValOre’s May 6, 2021 video reviewing the 2021 focus for Angilak.
Qualified Person (“QP”)
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Colin Smith, P.Geo., ValOre’s QP and Vice President of Exploration.
Information related to the independent Angilak mineral resource estimate has been approved by Michael Dufresne, M.Sc. P.Geo., President of Apex Geoscience Ltd., Robert Sim, P.Geo. of SIM Geological Inc. and Bruce Davis, FAusIMM of BD Resources Consulting Inc., who are independent QPs as defined under NI 43-101.
Information related to the independent Pedra Branca mineral resource estimate has been approved by Fábio Valério, P.Geo., and Porfirio Cabaleiro, P.Eng., of GE21.
About ValOre Metals Corp.
ValOre Metals Corp. (TSX-V: VO) is a Canadian company with a portfolio of high-quality exploration projects. ValOre’s team aims to deploy capital and knowledge on projects which benefit from substantial prior investment by previous owners, existence of high-value mineralization on a large scale, and the possibility of adding tangible value through exploration, process improvement, and innovation.
In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.
The Pedra Branca PGE Project comprises 52 exploration licenses covering a total area of 56,852 hectares (140,484 acres) in northeastern Brazil. At Pedra Branca, 7 distinct PGE+Au deposit areas host, in aggregate, a 2022 NI 43-101 inferred resource of 2.198 Moz 2PGE+Au contained in 63.6 Mt grading 1.08 g/t 2PGE+Au (CLICK HERE for news release dated March 24, 2022). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.
Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a current Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U3O8. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please CLICK HERE for ValOre's news release dated March 1, 2013.
ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.
On behalf of the Board of Directors,
“Jim Paterson”
James R. Paterson, Chairman and CEO
ValOre Metals Corp.
For further information about ValOre Metals Corp., or this news release, please visit our website at www.valoremetals.com or contact Investor Relations at 604.653.9464, or by email at contact@valoremetals.com.
ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit: http://www.discoverygroup.ca/
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains “forward-looking statements” within the meaning of applicable securities laws. Although ValOre believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to ValOre. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the future operations of ValOre and economic factors. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, ValOre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. ValOre undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of ValOre, or its financial or operating results or (as applicable), their securities.
Uranium Energy Corp Achieves Key Milestone at the Burke Hollow ISR Project with Installation of 106 Monitor Wells in the First Production Area
https://www.newswire.ca/news-releases/uranium-energy-corp-achieves-key-milestone-at-the-burke-hollow-isr-project-with-installation-of-106-monitor-wells-in-the-first-production-area-869514213.html
Uranium Energy Corp Jul 27, 2022, 07:00 ET
Highlights:
Located in South Texas, Burke Hollow's initial Production Area Authorization 1 ("PAA-1") is the newest and largest In-Situ Recovery ("ISR") wellfield being developed in the United States.
Completing installation of the 106 monitor wells for PAA-1 marks a significant milestone achievement towards ISR uranium production at the Burke Hollow project (the "Project").
This is a significant development for UEC and an important step in America's nuclear fuel supply chain to provide safe, clean and reliable carbon-free energy.
Advancing Burke Hollow towards production is timely as the U.S. looks to reduce its imports of Russian uranium. The U.S. National Nuclear Security Administration (NNSA) has recently begun the process to acquire U.S. produced uranium for America's strategic Uranium Reserve. NNSA has issued an initial solicitation to purchase up to approximately one million pounds of domestically produced uranium.
With the successful installation of the PAA-1 monitor well ring, UEC plans to transition into additional exploration and delineation drilling within the 19,336-acre Project to define additional production areas.
UEC's South Texas hub-and-spoke strategy is anchored by its fully licensed Hobson Processing Plant and five ISR projects, including its fully permitted Palangana, Goliad and Burke Hollow projects.
To learn more about the environmental, social and low-cost advantages of uranium In-Situ Recovery, visit https://www.uraniumenergy.com/projects/isr/
CORPUS CHRISTI, Tex., July 27, 2022 /CNW/ - Uranium Energy Corp (NYSE American: UEC) "UEC" or the "Company") is pleased to announce that it has completed the installation of the 106 monitor wells necessary for its first Production Area Authorization at its Burke Hollow Project located in Bee County, Texas. The planned production area is approximately two miles in length and, once complete, will constitute the largest production area ever to be developed in South Texas.
Andy Kurrus, VP of Resource Development stated: "We are pleased to have completed the installation of the Burke Hollow PAA-1 monitor well ring, a critical step towards uranium extraction.
We have also defined resources outside of PAA-1 at the Project, including several exploration targets and anomalous areas that have only been lightly explored. We expect this to translate into an extensive Project pipeline with additional exploration drilling and production area development in the near future. The development of Burke Hollow, the only recent uranium discovery in the United States, is the largest Goliad Formation deposit ever discovered in the South Texas Uranium Trend."
In this stage of Project advancement, well development and baseline sampling are expected to be complete by mid-August followed by aquifer testing. Preparation for an authorization application which sits within the current mine permit for the Project, is planned for submittal prior to the end of the calendar year.
The mineralization in PAA-1 is hosted within the Pliocene aged Goliad Formation, in what the Company has termed the "Lower B Sand". This unit, positioned at approximately 390 to 450 feet in depth, is comprised of four sub-units of mineralization.
In 2017, UEC refocused and then concentrated its Burke Hollow efforts by specifically targeting this area with the delineation drilling necessary to expand the resources identified earlier in the Project. Commencement of the permitting phase began in 2019 with the conclusion of the delineation campaign that was immediately followed by the first round of monitor well installations.
About Uranium Energy Corp
Uranium Energy Corp is America's leading, fastest growing, uranium mining company listed on the NYSE American. UEC is a pure play uranium company and is advancing the next generation of low-cost, environmentally friendly In-Situ Recovery (ISR) mining uranium projects. The Company has two production ready ISR hub and spoke platforms in South Texas and Wyoming, anchored by fully licensed and operational processing capacity at the Hobson and Irigaray plants. UEC also has seven U.S. ISR uranium projects with all of their major permits in place. Additionally, the Company has other diversified holdings of uranium assets, including: (1) one of the largest physical uranium portfolios of U.S. warehoused U3O8; (2) a major equity stake in the only royalty company in the sector, Uranium Royalty Corp.; and (3) a pipeline of resource-stage uranium projects in Arizona, Colorado, New Mexico and Paraguay. The Company's operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining.
Stock Exchange Information:
NYSE American: UEC
WKN: AØJDRR
ISN: US916896103
Safe Harbor Statement
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian securities laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans, "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Many of these factors are beyond the Company's ability to control or predict. 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 contained in this news release and in any document referred to in this news release. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings with the Securities and Exchange Commission. For forward-looking statements in this news release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities.
SOURCE Uranium Energy Corp
For further information: Contact Uranium Energy Corp Investor Relations at: Toll Free: (866) 748-1030, Fax: (361) 888-5041, E-mail: info@uraniumenergy.com
Cameco Announces Second Quarter Results, Continued Disciplined Execution of Strategy; Well-Positioned as Multi-Asset Nuclear Fuel Supplier Across the Fuel Cycle
https://ca.finance.yahoo.com/news/cameco-announces-second-quarter-results-102500846.html
Wed, July 27, 2022 at 3:25 a.m.·21 min read
SASKATOON, Saskatchewan, July 27, 2022--(BUSINESS WIRE)--Cameco (TSX: CCO; NYSE: CCJ)
Sunstone Metals/Cornerstone Capital: Wide intersections up to 1gpt gold equivalent pave way for maiden Resource at Bramaderos Project in Ecuador
https://ca.finance.yahoo.com/news/wide-intersections-1gpt-gold-equivalent-114500030.html
Cornerstone Capital Resources Inc.
Tue, July 19, 2022 at 4:45 a.m.·13 min read
OTTAWA, July 19, 2022 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP; OTC:CTNXF; FWB:GWN1)
Solaris Reports 230m of 1.02% CuEq, within 472m of 0.76% CuEq from Surface, Expanding Northeast Extension of ‘Indicative Starter Pit’
https://ca.finance.yahoo.com/news/solaris-reports-230m-1-02-110700572.html
Solaris Resources
Wed, July 20, 2022 at 4:07 a.m
Traction Uranium Expands Technical Research Team and Commences Summer Follow Up Program to Examine Radiation-Induced Quartz Degradation with Hearty Bay Core Samples
https://ca.finance.yahoo.com/news/traction-uranium-expands-technical-research-120000836.html
Traction Uranium Corp.
Tue, July 19, 2022 at 5:00 a.m.·3 min read
VANCOUVER, British Columbia, July 19, 2022 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (the “Company” or “Traction”) (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K), a mineral exploration issuer focusing on the development of discovery prospects in Canada, including its two flagship uranium projects in the world-renowned Athabasca Region, is pleased to welcome Ayetullah Tunc and Reza Deevsalar to Traction’s research team under the guidance of Dr. Yuanming Pan (Technical Advisor to Traction see June 7, 2022 News Release) and commencement of the summer follow up program utilizing Dr. Yuanming Pan’s innovative uranium vectoring technique he pioneered (see Traction July 6th, 2022 News Release).
Ayetullah Tunc is an M.Sc. student under the supervision of Dr. Yuanming Pan in Geological Sciences at the University of Saskatchewan. He is a dedicated exploration geologist and geologic mapper with a strong focus on unconformity-related uranium deposits in the Canadian Athabasca Basin, and phosphate-hosted uranium and thorium deposits. Ayetullah’s research focuses on using synchrotron X-ray techniques (XANES-XRF) and Electron Paramagnetic Resonance (EPR) for investigating ore systems with applications in mineral exploration. Ayetullah has performed on-site monitoring of well drilling operations along with surveying and mapping the site layout along with the geologic features associated with uranium mineralization as a field and well-site geologist for the General Directorate of Mineral Research and Exploration, Turkey (2018-2019).
Reza Deevsalar earned his Ph.D. degree in petrology and geochemistry of magmatic systems from the Tarbiat Modares University, Tehran, Iran in 2015. In addition to his academic activities in multiple fields, including petrology, geochemistry and isotope geochemistry of magmatic systems, gemology, and magmatic-geothermal systems, Reza has contributed to several mineral exploration programs across Iran (mainly on gold, copper, iron deposits, and associated ore minerals), as a field and exploration geologist from 2009-2017. The most interesting part of geology research to Reza is the application of state-of-the-art analytical techniques and innovative approaches in the production of new data to consolidate and support the underground and surficial geological datasets in the creation of effective mineral prospecting and exploration models. After 4.5 years of doing research in the fields of geochemistry, radiogenic isotopes, and geochronology (Sep 2017 - Mar 2021) at the University of the Ryukyus (Okinawa, Japan), Reza started working on synchrotron-based research projects and EPR-CL-assisted U-exploration with Dr. Yuanming Pan’s research team at the UofS.
Lester Esteban, Chief Executive Officer, stated “We are pleased to welcome Dr. Yuanming Pan’s research team to our group and are excited to integrate both Ayetullah and Reza into our summer follow up programs at both Hearty Bay and Lazy Edwards. Ayetullah and Reza will be joining Fission 3.0’s team in mobilizing to Fond Du Lac this week to commence the summer follow up program executing Dr. Yuanming Pan’s vectoring technique by systematically sampling drill cores from the Hearty Bay drill program we completed in April. Results from examining quartz degradation will allow our team to refine drill targets and improve accuracy by focusing our efforts in the right areas, therefore maximizing dollars in the ground for our investors.”
About Traction Uranium Corp.
Traction Uranium (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) is in the business of mineral exploration and the development of discovery prospects in Canada, including its two flagship uranium projects in the world-renowned Athabasca Region.
We invite you to find out more about our exploration-stage activities across Canada’s Western region at www.tractionuranium.com.
On Behalf of the Board of Directors
Lester Esteban
Chief Executive Officer
+1 (604) 561 2687
info@tractionuranium.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 expected use of proceeds from the Private Placement are “forward-looking statements”. 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 as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Skyharbour Closes Option to Acquire an Initial 51% and Up to 100% of the Russell Lake Uranium Project from Rio Tinto in the Athabasca Basin of Saskatchewan
https://ca.finance.yahoo.com/news/skyharbour-closes-option-acquire-initial-120000411.html
Skyharbour Resources Ltd
Tue, July 19, 2022 at 5:00 a.m.·12 min read
Vancouver, BC, July 19, 2022 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd.’s (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”) is pleased to announce the closing of the previously reported Option Agreement with Rio Tinto Exploration Canada Inc. (“RTEC”), a wholly owned subsidiary of Rio Tinto Limited (“Rio Tinto”), to acquire up to 100% of the Russell Lake Uranium Project (the “Property” or “Project”), which comprises 26 claims covering 73,294 hectares of prospective exploration ground strategically situated between the Company’s Moore Uranium project (to the east) and Denison Mines’ Wheeler River project (to the west) in the eastern portion of the Athabasca Basin.
Russell Lake Project Location Map:
http://www.skyharbourltd.com/_resources/images/SKY-RussellLake-20220325-Inset.jpg
The Project is a premier, advanced-stage exploration property given its large size, proximity to critical regional infrastructure, and the significant amount of historical exploration carried out on the property, which has identified numerous prospective target areas and several high-grade uranium showings as well as drill hole intercepts. The Property is centrally located between Cameco Corp.’s Key Lake mill to the south and McArthur River mine to the north. Access to the Property is via Highway 914, which services the McArthur River Mine and runs through the western extent of Property along with a high-voltage powerline that energizes the existing mining operations in the eastern portion of the Athabasca Basin.
Skyharbour has filed an NI 43-101 Technical Report on the Russell Lake property written by Michelle McKeough, P.Geo., of TerraLogic Exploration Inc. The Technical Report is the culmination of previously reported and compiled historical data and geological reports and was commissioned in preparation for an upcoming drill program Skyharbour plans to carry out on the project. It provides a detailed description of the project including the historical exploration and drill results previously reported, as well as recommendations for future exploration programs. The Technical Report may be found under the Company's profile at www.sedar.com.
Russell Lake Uranium Project:
The Russell Lake Project is a large, advanced-stage uranium exploration property totalling 73,294 hectares strategically located between Cameco’s Key Lake and McArthur River Projects and adjoining Denison’s Wheeler River Project to the west and Skyharbour’s Moore Uranium Project to the east. Highway 914, which services the McArthur River mine, runs through the western extent of the Property and greatly enhances accessibility. Similarly, a high-voltage powerline situated alongside Highway 914. Skyharbour’s acquisition of Russell Lake creates a large, nearly contiguous block of highly prospective uranium claims totalling 108,999 hectares between the Russell Lake and the Moore uranium projects.
There has been a meaningful amount of historical exploration carried out at Russell Lake but with most of it conducted prior to 2010. The Property has been the subject of over 95,000 metres of drilling in over 230 drill holes. The Property’s claims are in good standing for 2-22 years with assessment credits built-up from previous programs.
Several notable exploration targets exist on the property including the Grayling Zone, the M-Zone Extension target, the Little Man Lake target, the Christie Lake target, and the Fox Lake Trail target. More than 35 kilometres of largely untested prospective conductors in areas of low magnetic intensity exist on the Property as well.
At the Grayling Zone, drilling of the 2,200 metres long, up to 100 metres thick sub-parallel Grayling conductor intersected an 800 metres long discontinuous zone of basement-hosted uranium mineralization with localized perched and unconformity-hosted associated mineralization along a graphitic thrust fault. Drill hole RL-85-07 intersected 3.45% U3O8 over 0.3 metres at a depth of 363.2 metres and 0.1% U3O8 over 0.5m at a depth of 366.4 metres. This target is prospective for additional high-grade uranium discoveries and is open in several directions.
At the M-Zone Extension target, historical drilling at neighbouring Denison’s M-Zone along trend from the Grayling Zone intersected basement hosted uranium of 0.70% U3O8 over 5.8 metres at a depth of 374.0 metres. Like the Grayling Zone, the mineralization is hosted by a graphitic thrust fault. The northeast extension of the M-Zone-Grayling corridor onto the Property has seen limited drilling, but mineralization was intersected in historical drilling, returning 0.7 metres of 0.123% U3O8 at 619.1 metres depth in hole MZE-11-03.
The Little Man Lake Zone target is 500 metres long, 10 to 15 metres thick, 25 to 35 metres wide, and is a zone of prospective geology associated with an unconformity depression. The last drilling in this area was in 1989, prior to modern uranium exploration models, with historical uranium grades ranging from 0.03% up to 0.1% U3O8 at around 300 metres depth.
At the Fox Lake Trail target area, uranium mineralization was intersected in a few historical drill holes. Significant intercepts include 0.0743% U3O8 over 1.0 metres at 525.5 metres depth in hole FLT-08-06, and 0.053% U3O8 over 0.3 metres at 516.9 metres depth in hole FLT-11-14. A prospective quartzite ridge runs through the area along with anomalous geochemistry in faulted basement metasediments. Significant sandstone-hosted sulphides are also found in this area.
The Christie Lake target area contains basement-hosted uranium mineralization with historical drill results returning 0.17% U3O8 over 0.4 metres at 436.4 metres depth in hole CL-10-03. A prospective clay altered basement fault system runs throughout this area.
In addition to the aforementioned target areas, there are more than 35 kilometres of untested conductors on the Property underlain by rocks of low magnetic intensity, suggestive of prospective graphitic meta-pelitic basement rocks. The Project has seen limited exploration in the previous twelve years, so minimal modern exploration techniques and methods have been used to expand existing zones of mineralization as well as to make new discoveries.
There is a fully permitted exploration camp on the Project suitable for over forty people located on the highway and within 5 kilometres of Denison’s Phoenix deposit. Skyharbour is planning an initial phase of exploration and drilling at the Project with details forthcoming.
Terms of the Agreement:
Under the terms of the Option Agreement, which now has TSX Venture Exchange (the “Exchange”) approval, Skyharbour may acquire up to a 100% interest in the Russell Lake Uranium Project and will become operator of the Project during the earn-in period and afterwards if a joint venture is formed.
An initial majority 51% interest in the Property may be earned by paying CAD $508,200, which has been paid, and issuing 3,584,014 common shares of Skyharbour, which has been issued, to RTEC. Skyharbour must also fund CAD $5,717,250 in exploration expenditures, inclusive of a 10% management fee to Skyharbour, over a period of three years, of which a total of CAD $1,905,750 must be spent within eighteen months. Skyharbour at this point can elect to enter into a 51% / 49% joint venture with RTEC subject to a standard dilution clause, or the Company can earn additional interest in the project.
Skyharbour may then acquire an additional 19% to earn a total of a 70% interest in the Property by paying CAD $1,588,125 in cash or by issuing 2,226,096 shares. Additionally, Skyharbour must fund CAD $6,352,500 in exploration expenditures, inclusive of a 10% management fee to Skyharbour, over a period of the following two years.
Upon Skyharbour earning a 70% interest, the Company may elect to continue on a 70% / 30% joint venture basis, subject to a standard dilution clause, or it may acquire the remaining 30%, if RTEC elects not to contribute, for a total undivided interest of 100% of the Property by paying CAD $33,033,000 in cash or by issuing 42,598,565 shares or a combination thereof to prevent RTEC from owning over 19.9% of Skyharbour.
Upon Skyharbour’s 100% acquisition, the Property will become subject to a 1% NSR Royalty payable to RTEC. The royalty may be reduced to 0.5% by payment of USD $750,000 to RTEC. The claims comprising the Property are subject to various existing underlying royalties to other parties. All securities issued in connection with the Option will be subject to a hold period ending four months and one day after issuance.
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 and approved by David Billard, P.Geo., a Consulting Geologist for Skyharbour as well as a Qualified Person.
About Rio Tinto Limited:
Rio Tinto is one of the largest mining and metals companies globally, operating in 35 countries with over 49,000 employees. Rio Tinto’s purpose is to produce materials essential to human progress.
About Skyharbour Resources Ltd.:
Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with fifteen projects, ten of which are drill-ready, covering over 450,000 hectares of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Uranium Project is Skyharbour’s recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade drill intercepts over a large property area with robust exploration upside potential. The Company is actively advancing these projects through exploration and drill programs.
Skyharbour has a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project. Skyharbour also has a joint venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit. Furthermore, the Company owns a 100% interest in the South Falcon Point Uranium Project on the eastern perimeter of the Basin, which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%.
Link to the South Falcon Point Resource Estimate:
https://skyharbourltd.com/_resources/Way%20Lake%20Fraser%20Lakes%20Zone%20B.pdf?v=0.146
Skyharbour has several active option partners including: ASX-listed Valor Resources on the Hook Lake Uranium Project whereby Valor can earn-in 80% of the project through CAD $3,500,000 in exploration expenditures, $475,000 in cash payments over three years and an initial share issuance; CSE-listed Basin Uranium Corp. on the Mann Lake Uranium Project whereby Basin Uranium can earn-in 75% of the project through $4,000,000 in exploration expenditures, $850,000 in cash payments as well as share issuances over three years; and CSE-listed Medaro Mining Corp. on the Yurchison Project whereby Medaro can earn-in an initial 70% of the project through $5,000,000 in exploration expenditures, $800,000 in cash payments as well as share issuances over three years followed by the option to acquire the remaining 30% of the project through a payment of $7,500,000 in cash and $7,500,000 worth of shares.
Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://www.skyharbourltd.com/_resources/images/SKY-SaskProject-Locator-20220324.jpg
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.
SKYHARBOUR RESOURCES LTD.
“Jordan Trimble”
Jordan Trimble
President and CEO
For further information contact myself or:
Riley Trimble
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
The securities offered 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 U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including the Private Placement. Although management 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 the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
Strathmore Plus Acquires ISR Project in Shirley Basin Uranium District, Wyoming
https://www.newsfilecorp.com/release/131176
Kelowna, British Columbia--(Newsfile Corp. - July 19, 2022) - Strathmore Plus Energy Corporation (OTC: SUUFF) (TSXV: SUU.H) ("Strathmore Plus" or "the Company") is pleased to announce that is has acquired the Agate claims, an in-situ recovery (ISR) project in the Shirley Basin uranium district of Wyoming. The 52 lode mining claims were staked in an area previously explored by Kerr-McGee Corporation during the 1970s. Kerr-McGee was the largest uranium company in the US at the time. Uranium mineralization is contained in Wyoming-type roll fronts within the Eocene Wind River Formation, an arkosic-rich sandstone. Historically, 60 million pounds of uranium were mined in Shirley Basin, including from open-pit, underground, and the first successful in-situ recovery operation in the US during the 1960s.
Technical Advisor, Mr. DeJoia, stated, "During my 10 years working in Shirley Basin, I was aware of the extensive exploratory drilling that Kerr-McGee was completing across the central and southern Shirley Basin areas. On occasion I would visit the drill sites, where I had a chance to see the shallow depth of the drilling and notable changes in the color of the cuttings distinguishing altered from unaltered ground, indicative of roll front mineralization in Shirley Basin. The area is readily accessible from the state highway with utilities crossing near the claim group also. Shirley Basin has excellent transmissivity and permeability, ideal for in-situ recovery. We look forward to exploratory drilling in the near future to verify the historical drilling results and to expand the area of mineralization into untested ground."
The Agate property consists of 52 mining claims covering 1,075 acres. Kerr-McGee drilled at least 500 holes in the area covered by the claim group. Strathmore will acquire data for 100's of geophysical gamma logs and associated drill hole location maps for the property area that are available from the Wyoming Geological Survey. The uranium mineralization is shallow, from 15 to approximately 150 feet deep. Much of the mineralization is below the water table and is amenable to in-situ recovery. The average thickness varies from several feet to tens of feet, with grades ranging from 0.02% to 0.18% eU3O8 as noted on the historical gamma logs.
About Strathmore Plus Energy Corp.
Strathmore Plus is a uranium exploration company, focused on in-situ recoverable uranium deposits in the State of Wyoming.
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 Strathmore Plus Energy 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 Energy Corp. disclaim 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.
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 Energy Corp., a Qualified Person.
Strathmore Plus Energy Corp.
Contact Information:
Investor Relations
Telephone: 1 888 882 8177
Email: info@strathmoreplus.com
ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO
Puranium Energy Receives Approvals for the Transfer of Four EPLs from Namibian Government
https://www.newsfilecorp.com/release/131196
Toronto, Ontario--(Newsfile Corp. - July 18, 2022) - Puranium Energy Ltd. (CSE: UX) (FSE: 2DK) (the "Company" or "Puranium") is pleased to announce that the Company has received official government approvals from the Namibian Ministry of Mines and Energy for the transfer of licenses EPL-7394, EPL-7646, EPL-7907 and EPL-8084.
Figure 1 - Puranium Property Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8575/131196_52a2516d645558eb_001full.jpg
While the Company already has the ability to work on all of the EPLs, the official approval to transfer these four EPLs accounts for 88% of the recently purchased uranium exploration portfolio, which are now owned by Puranium's 85%-owned Namibian subsidiaries. As per the purchase agreement, now that the EPLs have been transferred the Company has issued to the vendors 88% of the purchase price, being US$154,578 and 7,773,140 common shares, which included 706,640 common shares paid as a finder's fee. The balance of US$20,422 and 1,026,860 common shares, including 93,630 common shares for the finders, will be paid when the transfers of the remaining three EPLs are completed.
This issuance increases Puranium's tightly-held, capital structure to 17,018,116 common shares and 5,530,000 common share purchase warrants (CSE: UX.WT), which are exercisable at $0.35 until December 23, 2023.
"We continue to work through the historical data on the EPLs in order to complete a formulated plan for exploration for the third and fourth quarters of this year. The transfer of the EPLs is the first sign of our good standing with the Namibian Government and we look forward a strong and fruitful relationship moving forward," stated Puranium President and CEO, Jason Bagg. "We look forward to getting on the ground and finding uranium on our EPLs," added Mr. Bagg.
Qualified Person
Bruce Durham, P.Geo., is a Qualified Person, as that term is defined by Canadian regulatory guidelines under NI 43-101, and has read and approved the technical information contained in this press release.
On behalf of the Board,
Jason Bagg,
President & CEO, Director
About Puranium Energy Ltd.
The Company is focused on the uranium exploration of its 85% interest in seven EPLs (the "Estate Uranium Properties") totaling 93,514 hectares in the Erongo Province of Namibia, which accounts for approximately 8% of the world's uranium production. The Company also has an option to purchase a 100% interest in 35 mineral claims in Ontario.
For more information, please contact investor relations at investors@puraniumenergy.com
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Labrador Uranium Commences Drilling at Moran Lake and Announces Corporate Update
https://ca.finance.yahoo.com/news/labrador-uranium-commences-drilling-moran-110000552.html
Labrador Uranium Inc.
Mon, July 18, 2022 at 4:00 a.m.·7 min read
Figure 1
Labrador Uranium Summer 2022 Drilling and Field Program on the CMB Project.
Figure 2
Moran Lake Deposit Drill Targets
TORONTO, July 18, 2022 (GLOBE NEWSWIRE) -- Labrador Uranium Inc. (“LUR” or “Labrador Uranium”) (CSE: LUR, OTCQB: LURAF and F:EI1) is pleased to announce the commencement of a minimum 4,000 metre summer drill program at the Moran Lake Deposit (the “Moran Lake Deposit”) and reconnaissance-style exploration and follow-up for priority areas within LUR’s larger Central Mineral Belt Project (the “CMB Project”), where LUR holds 139,000 ha of mineral rights. The CMB Project is 100% owned and operated by LUR.
Click here to watch CEO Stephen Keith’s summary of today’s announcement.
Highlights:
Camp construction is near completion and the field crew is preparing for mobilization.
Phase 1 exploration includes an inaugural exploration budget of $5.5 million.
Drilling will commence initially at the Moran Lake Deposit (Figure 1 and 2) to delineate a current mineral resource estimate based on historical data, with a view to extending the mineralization downdip in its southern extent of the current mineralized zone, which remains open.
Additional exploration work including bedrock mapping, sampling, ground radiometric surveying, and trenching as required, will be conducted on three additional CMB Project target areas to assist in the Machine Learning Process and advance targets for drilling.
Stephen Keith, CEO of LUR, commented, “We are excited to begin our inaugural drill program at the Moran Lake Deposit, the most advanced target in our portfolio. Our initial $5.5 million spend is designed to test several high priority targets including, work to confirm the historical mineral resource, testing possible extensions and ground truthing to support our Machine Learning efforts to generate and advance additional targets across the CMB Project area. We have a lot of ground to cover but we are exercising prudence during current volatile markets to maintain our strong treasury and support the second phase of exploration next year.”
Moran Lake Deposit
The Moran Lake Deposit is located in the western section of the CMB Project and represents LUR’s most advanced target given the historical work that has been completed. Uranium mineralization occurs in two zones labelled as Upper C Zone and the Lower C Zone. Within the Upper C Zone, mineralization is hosted within brecciated, variably hematite-altered mafic volcanics and hematitic cherts, and the Lower C Zone hosts uranium mineralization within chloritized sandstones.
The most recent historical indicated mineral resource estimate of 6.92 million lbs at 0.034% U3O8 was reported by Morgan and Giroux (2008) for the Upper C Zone, with total historical inferred mineral resource for Moran Lake Upper and Lower C Zone, Trout Pond, and Armstrong at 8.17 million tonnes at 0.032% U3O8.1 A Qualified Person (as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”)) has not done sufficient work to classify the historical estimate as current mineral resources and LUR is not treating these historical estimates as current mineral resources. LUR’s 2022 summer exploration program will focus on delineating a current mineral resource estimate based on historical data and working to extend the mineralization downdip in its southern extent of the current mineralized zone.
One fly rig will be mobilized to the first Drill Target B (Figure 2) at the Moran Lake Deposit. Modeling and interpretation of the Moran Lake Deposit has outlined several untested targets and opportunities to extend known mineralization at depth. Specific target areas focus down dip in areas with significant historical U3O8 intersects and the greatest potential to identify any undefined structural trap. Orphaned zones of mineralization intersected in the lower Moran Deposit are open in all directions for drill follow-up, and subsequently could have the potential to open up the entire southern half of the respective mineralized zone (Figure 2).
CMB Groundwork
Several anomalies identified through previous groundwork by historical landholders and the Newfoundland and Labrador Mining and Mineral Development branch, outline prospective trends over the Central Mineral Belt. Three areas have been highlighted as priority for 2022 summer field exploration (Figure 1), including bedrock mapping, sampling, ground radiometric surveying, and trenching as required. Information collected is intended to help support the Machine Learning process in aims to plan more advanced stage future exploration such as ground geophysical and subsequent drilling programs. The balance of the CMB Project area is comparatively under-explored with respect to other mining districts in Canada, and thus provides the opportunity for district-scale Machine Learning application to take the CMB Project to the next stage of exploration. Machine Learning will be an on-going, iterative assessment tool permanently incorporated into LUR’s exploration toolbox to facilitate identification of priority targets areas.
Corporate Update
LUR is also pleased to announce that it has engaged Momentum IR Corp. (“Momentum”), a Toronto based investor relations and corporate communications firm, to provide investor relations and advisory services. The initial term of the engagement is for 12 months with a monthly retainer of $8,000 per month. LUR has also granted Momentum 100,000 stock options pursuant to LUR’s long-term omnibus incentive plan. Each option entitles Momentum to acquire one LUR common share at an exercise price of $0.70 for a period of five years. Momentum is at arm’s length to LUR and has no other relationship with LUR, except pursuant to the engagement. The agreement and the grant of the stock options is subject to the approval of the Canadian Securities Exchange.
In connection with the election of Brigitte Berneche to the LUR board of directors, Labrador Uranium has also granted 125,000 stock options to Ms. Berneche pursuant to LUR’s long-term omnibus incentive plan. Each option is exercisable to acquire one LUR common share at an exercise price of $0.70 for a period of five years, subject to the approval of the Canadian Securities Exchange.
Technical Disclosure and Qualified Person
The scientific and technical information contained in this news release was reviewed and approved by Matthew Melnyk, M.Sc., CPG, an advisor to LUR, who is a “Qualified Person” (as defined in NI 43-101).
About Labrador Uranium Inc.
Labrador Uranium is engaged in the exploration and development of uranium projects in Labrador, Canada and holds a dominant land position covering over 139,000 ha in the prolific Central Mineral Belt (CMB) in central Labrador and the Notakwanon Project in northern Labrador. Currently, LUR is advancing the district scale CMB Project which includes the Moran Lake Deposit and Mustang Lake Project. The CMB Project area surrounds several known uranium prospects, including Paladin Energy’s Michelin deposit, with substantial past exploration work completed, and numerous occurrences of uranium, copper and IOCG style mineralization.
For More Information, Please Contact
Stephen Keith
CEO
skeith@labradoruranium.com
Investor Relations
info@labradoruranium.com
Twitter: @LabradorUr
www.labradoruranium.com
Cautionary Statement Regarding “Forward-Looking” Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements with respect planned exploration activities, mineral resource estimates, the approval of the Canadian Securities Exchange and other activities, events or developments that are expected, anticipated or may occur in the future. Generally, but not always, forward looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.
Forward-looking information and statements are based on our current expectations, beliefs, assumptions, estimates and forecasts about LUR’s business and the industry and markets in which it operates. Such forward information and statements are based on numerous assumptions, including among others, that general business and economic conditions will not change in a material adverse manner, that historical mineral resources estimates could be indicative of current mineral resource estimates, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by LUR in providing forward looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of Labrador Uranium to differ materially from any projections of results, performances and achievements of Labrador Uranium expressed or implied by such forward-looking information or statements, including, among others: limited operating history, negative operating cash flow and dependence on third party financing, uncertainty of additional financing, delays or failure to obtain required permits and regulatory approvals, no known mineral resources/reserves, aboriginal title and consultation issues, reliance on key management and other personnel; potential downturns in economic conditions; availability of third party contractors; availability of equipment and supplies; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; changes in laws and regulation, competition, and uninsurable risks, community relations, delays in obtaining governmental or other approvals and the risk factors with respect to Labrador Uranium set out in LUR’s listing statement dated March 2, 2022 filed with the Canadian securities regulators and available under LUR’s profile on SEDAR at www.sedar.com.
Although LUR has attempted to identify important factors that could cause actual actions, events or results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. LUR undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.
1 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. Moran Lake Upper C-Zone has an indicated mineral resource of 6.92 million t at 0.034% U3O8 and 0.077% V2O5 or 5.19 million pounds of U3O8 and 11.75 million pounds of V2O5. 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%. The total inferred mineral resource reported for the Moran Lake Upper and Lower C-Zones, Trout Pond, and Armstrong was 8.17 million t at 0.032% U3O8 and 0.088% V2O5 or 5.82 million pounds of U3O8 and 15.81 million pounds of V2O5. 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.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/7f7e440a-742b-42c9-8727-047b2a5a4ce8
https://www.globenewswire.com/NewsRoom/AttachmentNg/7f83ead1-cea6-4058-a0d7-69b542a415f5
Marvel Applies for Permit for Its Diamond Drill Program, KLR-Walker Uranium Project-Athabasca Basin
https://ca.finance.yahoo.com/news/marvel-applies-permit-diamond-drill-070500015.html
Tue, July 19, 2022 at 12:05 a.m.·3 min read
VANCOUVER, BC / ACCESSWIRE / July 19, 2022 / Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T)(OTCQB:MARVF)
Skyharbour/Azincourt Identifies Uranium Enrichment at the East Preston Uranium Project
https://ca.finance.yahoo.com/news/skyharbour-partner-company-azincourt-identifies-120000795.html
Skyharbour Resources Ltd
Wed, July 13, 2022 at 5:00 a.m.·12 min read
Vancouver, BC, July 13, 2022 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd.’s (TSX-V:SYH) (OTCQB:SYHBF) (Frankfurt:SC1P) (the “Company”) partner company Azincourt Energy (“Azincourt) is pleased to present the analytical results from the Winter 2022 drill program at the East Preston uranium project, located in the western Athabasca Basin, Saskatchewan, Canada.
Project Location – Western Athabasca Basin, Saskatchewan, Canada:
https://www.skyharbourltd.com/_resources/maps/Sky_EastPreston_20211209.jpg
Drilling for the 2022 winter season at the East Preston Project resulted in 5,004.5 metres completed in 19 drill holes between January and March of 2022. Initial findings of this program were reported in a news release dated March 29th, 2022. Drilling during the 2022 program focused on the A-G and K-H-Q trends and commenced in the G-Zone where the 2021 drill program ended.
A total of 420 samples were collected throughout the program and sent to the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon, Saskatchewan for analysis. After unexpected delays at the lab, results were finally received by TerraLogic Exploration in late June and immediately underwent a thorough quality control assessment prior to being accepted.
“The analysis from drill core is encouraging” said Azincourt’s VP, Exploration, Trevor Perkins. “The uranium enrichment within the alteration zones is a sign that uranium bearing fluids were present within the alteration system. We have the alteration system, and uranium moving around within it. The next step is identifying the areas of concentration within the system where significant uranium is dropping out,” continued Mr. Perkins.
An analysis of the results shows uranium enrichment within the previously identified alteration zones along the G-, K, and H- target zones (Figure 2). Uranium enrichment is identified as uranium (U) values and a uranium/thorium ratio (U/Th) above what would normally be expected in the given rock type or area.
Along the northeast trending G-Zone, extensive hydrothermal alteration, and evidence of east-west cross-cutting structures were highlighted in holes EP0030 and EP0037. The primary rock types in the alteration zone are granodiorite and diorite gneiss with average expected values of 2-3 ppm U and U/Th ratios of 0.25-0.3. A sample from Hole EP0037 returned 14.6 ppm U and a U/Th ratio of 1.5, five times the expected values. A sample from EP0032 returned 19.5 ppm U and a U/Th ratio of 0.8.
The H-Zone covers a change in orientation of the structural and conductive trend from north-south to southwest trending and contains a thick zone of hydrothermal alteration and an intense graphitic fault and mylonite zone. A sample from hole EP0041 retuned 12.5 ppm U and a 0.5 U/Th ratio within a mylonite in the fault zone.
Along the north-south trending K-Zone extensive zones of hydrothermal hematite have been intersected in all holes, with clay alteration also being present. A zone of localized elevated radioactivity more than 10 times background values was identified in hole EP0035 (see Azincourt’s news release dated March 1st, 2022). The rock type in this zone is gabbro with average expected values of 0.5-1.5 ppm U and U/Th ratios of 0.25-0.5. A sample from this zone in hole EP0035 returned 5.4 ppm U and a 1.2 U/Th ratio.
Azincourt considers sample analysis results to be an important indicator that uranium bearing fluids were present within the alteration systems identified. Continued testing of the alteration system to identify the extents of the alteration and areas of fluid concentration and strong uranium enrichment will be the aim of follow-up programs.
“The results of this drill program continue to support our exploration model at East Preston,” said Azincourt’s President and CEO, Alex Klenman. “The alteration zones are considerable in both size and scope. The results now confirm uranium is present within these alteration zones, which is a significant and critical step in the exploration process. We are eager to get the next round of drilling completed as the knowledge gained from this winter’s program will aid immensely in vectoring toward areas of more significant mineralization. The next eight to ten months will be busy for Azincourt as we follow up at East Preston, and we also begin drilling at Hatchet Lake, which we plan to drill as early as this fall. Despite the recent decline in overall market sentiment, we’re in an excellent position. Our treasury is extremely strong, and we’re fully funded to execute all of our exploration plans over the next year, and beyond. We’re going to be very active and plan to be aggressive with the drills,” continued Mr. Klenman.
A thorough review and interpretation of the results of the winter 2022 program is underway and preparation for an extensive program in the winter of 2022-2023 is planned to continue evaluating alteration and structure on the G-, K-, and H-Zones as well as get a first look at the Q-Zone.
East Preston Target Areas:
The primary target area on the East Preston Project is the conductive corridors from the A-Zone through to the G-Zone (A-G Trend) and the K-Zone through to the H and Q-Zones (K-H-Q Trend) (Figure 1). The selection of these trends is based on a compilation of results from the 2018 through 2020 ground-based EM and gravity surveys, property wide VTEM and magnetic surveys, and the 2019 through 2022 drill programs. The 2020 HLEM survey indicates multiple prospective conductors and structural complexity along these corridors.
Drilling programs to date have confirmed that identified geophysical conductors comprise structurally disrupted zones that are host to accumulations of graphite, sulphides, and carbonates. Hydrothermal alteration, anomalous radioactivity, and elevated uranium have been demonstrated to exist within these structurally disrupted conductor zones.
Target Corridors at East Preston Uranium Project (Figure 1):
https://skyharbourltd.com/_resources/maps/nr-20210118-figure1.png
While the A-G and K-H-Q trends are the primary focus, many additional trends and zones exist to the east and west of the primary trends on the East Preston property (Figure 1). These additional target areas will require ground geophysics to constrain conductor locations and drilling to properly evaluate their potential.
2022 Drill Target Areas at the East Preston Uranium Project (Figure 2):
https://www.skyharbourltd.com/_resources/images/2022-Drill-Holes-and-Target-areas-at-the-East-Preston-Uranium-Project.png
Permitting and Community Engagement:
The permitting process is underway to obtain authorization for the winter 2022-2023 drill program. Azincourt Energy continues to be engaged in regular meetings with the Clearwater River Dene Nation and other rights holders to ensure that concerns of the local communities are addressed. Azincourt looks forward to a continued close working relationship with CRDN and other rights holders to ensure that any potential impacts and concerns are addressed and that the communities can benefit from activities in the area through support of local business, employment opportunities, and sponsorship of select community programs and initiatives. Several members of the Clearwater River Dene Nation were directly employed on site or to provide support and services to keep the camp and program running.
About East Preston:
Skyharbour and Dixie Gold entered into an Option Agreement (the “Agreement”) with Azincourt whereby Azincourt had an earn-in option to acquire a 70% working interest in a portion of the Preston Uranium Project known as the East Preston Property. Azincourt has now earned their interest in the project by completing CAD $2.5 million in staged exploration expenditures and making a total of CAD $1 million in cash payments as well as issuing shares of Azincourt divided evenly between Skyharbour and Dixie Gold. Skyharbour retains a 15% interest in the East Preston Project.
Three prospective conductive, low magnetic signature corridors have been discovered on the property. The three distinct corridors have a total strike length of over 25 km, each with multiple EM conductor trends identified. Ground prospecting and sampling work completed to date has identified outcrop, soil, biogeochemical and radon anomalies, which are key pathfinder elements for unconformity uranium deposit discovery.
The East Preston Project has multiple long linear conductors with flexural changes in orientation and offset breaks in the vicinity of interpreted fault lineaments – classic targets for basement-hosted unconformity uranium deposits. These are not just simple basement conductors; they are clearly upgraded/enhanced prospectivity targets because of the structural complexity. The targets are basement-hosted unconformity related uranium deposits similar to NexGen’s Arrow deposit and Cameco’s Eagle Point mine. East Preston is near the southern edge of the western Athabasca Basin, where targets are in a near surface environment without Athabasca sandstone cover; therefore, they are relatively shallow targets but can have great depth extent when discovered. The project ground is located along a parallel conductive trend between the PLS-Arrow trend and Cameco’s Centennial deposit (Virgin River-Dufferin Lake trend).
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 by C. Trevor Perkins, P.Geo., Vice President, Exploration of Azincourt Energy, and a Qualified Person as defined by National Instrument 43-101.
About Skyharbour Resources Ltd.:
Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with fifteen projects, ten of which are drill-ready, covering over 450,000 hectares of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Uranium Project is Skyharbour’s recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade drill intercepts over a large property area with robust exploration upside potential. Furthermore, the Company owns a 100% interest in the South Falcon Point Uranium Project on the eastern perimeter of the Basin, which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. Skyharbour is actively advancing these projects through exploration and drill programs.
Skyharbour has a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project. Skyharbour also has a joint venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit.
Skyharbour has several active option partners including: ASX-listed Valor Resources on the Hook Lake Uranium Project whereby Valor can earn-in 80% of the project through CAD $3,500,000 in exploration expenditures, $475,000 in cash payments over three years and an initial share issuance; CSE-listed Basin Uranium Corp. on the Mann Lake Uranium Project whereby Basin Uranium can earn-in 75% of the project through $4,000,000 in exploration expenditures, $850,000 in cash payments as well as share issuances over three years; and CSE-listed Medaro Mining Corp. on the Yurchison Project whereby Medaro can earn-in an initial 70% of the project through $5,000,000 in exploration expenditures, $800,000 in cash payments as well as share issuances over three years followed by the option to acquire the remaining 30% of the project through a payment of $7,500,000 in cash and $7,500,000 worth of shares.
Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://www.skyharbourltd.com/_resources/images/SKY-SaskProject-Locator-20220324.jpg
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.
SKYHARBOUR RESOURCES LTD.
“Jordan Trimble”
Jordan Trimble
President and CEO
For further information contact myself or:
Riley Trimble
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
The securities offered 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 U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including the Private Placement. Although management 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 the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
CanAlaska Discovers Significant New Uranium Zone at West McArthur
Wide Zone of Basement-Hosted Uranium Mineralization 6 Km South of 42 Zone
Faulted Graphitic Conductor with Mineralization 100 m Below Unconformity
Extensive Summer Drill Program Continuing on West McArthur Project
https://www.newsfilecorp.com/release/130957
Vancouver, British Columbia--(Newsfile Corp. - July 15, 2022) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N)
Traction Uranium Collaborates with SRC in Exploring the use of their In-Situ Recovery Technology at its Properties
https://ca.finance.yahoo.com/news/traction-uranium-collaborates-src-exploring-120000812.html
Traction Uranium Corp.
Tue, July 12, 2022 at 5:00 a.m.·2 min read
VANCOUVER, British Columbia, July 12, 2022 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (the “Company” or “Traction”) (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K), a mineral exploration issuer focusing on the development of discovery prospects in Canada, including its two flagship uranium projects in the world-renowned Athabasca Region, is pleased to execute a Master Service Agreement with the Saskatchewan Research Council (SRC) in exploring ISR (in-situ recovery) uranium extraction projects to utilize their core flooding machine post discovery.
SRC is Canada’s second largest research and technology organization. With 350 employees, $137 million in annual revenue and 75 years of experience, SRC provides services and products to its 1,500 clients in 27 countries around the world.
Lester Esteban, Chief Executive Officer, stated “SRC has been synonymous with mining in Saskatchewan and around the world for a very long time. Their knowledge and proficiency around mining and uranium is unrivaled and supports our pillars of exploration and expansion being supported by experience and expertise. Conventional mining involves removing mineralized rock from the ground, grinding, sorting and separating out what we want from what we don’t. Solution mining otherwise known as ISL (in-situ leaching) or ISR (in-situ recovery) leaves the ore where it is in the ground, recovery is done by dissolving the minerals we want from the ore and pumping up the pregnant solution to the surface where we can recover it resulting in little disturbance and no tailings or waste rock generated. This provides low capital costs relative to conventional mining providing Traction a key technological partner post discovery and supports our plans for adding more properties in North America.”
Technological Overview:
The uranium in-situ recovery process is proposed to mine deposits that are difficult to justify mine development due to either not enough uranium or too high of radiation. The technology can potentially utilize drilling and cracking to create passage for the lixiviant through the ore body to extract the uranium in-situ potentially utilizing the current freezing technology used at Cameco’s Cigar Lake to encapsulate the orebody for the in-situ recovery.
The apparatus at SRC is called the Core Flooding Machine. It can stimulate the overburden pressure and pumping pressure during recovery. It uses drill cores and the evolution of permeability and uranium extraction as a function of time and amount of injection lixiviant are recorded and monitored.
About Traction Uranium Corp.
Traction Uranium (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) is in the business of mineral exploration and the development of discovery prospects in Canada, including its two flagship uranium projects in the world-renowned Athabasca Region.
We invite you to find out more about our exploration-stage activities across Canada’s Western region at www.tractionuranium.com.
On Behalf of the Board of Directors
Lester Esteban
Chief Executive Officer
+1 (604) 561 2687
info@tractionuranium.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 expected use of proceeds from the Private Placement are “forward-looking statements”. 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 as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Denison Receives Approval to Construct and Operate Phoenix Feasibility Field Test Facility from Saskatchewan Minister of Environment
https://ca.finance.yahoo.com/news/denison-receives-approval-construct-operate-103000563.html
Tue, July 12, 2022 at 3:30 a.m.·7 min read
TORONTO, July 12, 2022 /CNW/ - Denison Mines Corp. ("Denison" or the "Company") (TSX: DML) (NYSE: DNN) is pleased to announce that it has received approval from the Province of Saskatchewan to prepare, construct, and operate the facilities required to carry out the In-Situ Recovery ("ISR") Feasibility Field Test ("FFT") planned for the Phoenix deposit at the Company's 95% owned Wheeler River project. View PDF version
The approval was granted by the Saskatchewan Minister of Environment (the "Minister") and authorizes Denison to operate "pollutant control facilities" – which is typical for mining operations and allows for the management of material recovered from mineral extraction through to waste water treatment, discharge, and storage (as applicable). The approval followed the completion of a process involving the review of and consultation on the Company's permit application and supporting materials related to the FFT.
Kevin Himbeault, Denison's Vice President of Plant Operations & Regulatory Affairs, commented "We are pleased to have received approval from the Province of Saskatchewan to prepare and operate the Phoenix FFT. This is a significant advancement for the FFT, which is a key step in the process of de-risking the proposed Phoenix ISR uranium mining operation and is expected to provide important details to support the ongoing Feasibility Study. Overall, Denison was pleased with the permit submission, review, and community consultation process – as it reflected a shared objective of all interested parties to ensure the safe and environmentally responsible operation of the facilities required to complete the FFT."
David Cates, Denison's President & CEO, added "The permitting of the FFT is an excellent demonstration of our team's technical and regulatory capabilities. The FFT represents a first-of-its-kind test of a uranium mining method that is new to Canada. Successfully navigating the regulatory environment in Saskatchewan to develop conditions for the oversight of a novel advanced field test is a notable accomplishment for both the Denison team and the regulatory team from the Ministry of the Environment."
With receipt of the Approval to Operate Pollutant Control Facilities from the Minister, preparation and construction of the FFT facilities, described below, are now fully authorized and are expected to commence shortly.
The Canadian Nuclear Safety Commission has determined that a Nuclear Substance License is also required for Denison to possess and store a nuclear substance (mineralized solution containing uranium) resulting from the operation of the FFT. The process to obtain this license is well advanced, and the licence is expected to be received before the site preparation and commissioning activities are completed.
This press release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated September 28, 2021, to its short form base shelf prospectus dated September 16, 2021.
Feasibility Field Test
The FFT is designed to use the existing commercial-scale ISR test pattern ("Test Pattern"), installed at Phoenix in 2021 (see news releases dated July 29, 2021 and October 28, 2021), to facilitate a combined assessment of the Phoenix deposit's hydraulic flow properties with the leaching characteristics that have been assessed through the metallurgical core-leach testing program. Overall, the FFT is intended to provide further verification of the permeability, leachability, and containment parameters needed for the successful application of the ISR mining method at Phoenix and is expected to validate and inform various feasibility study design elements – including the production and remediation profiles expected for the project.
The operation of the FFT is planned to occur in three phases: (1) the leaching phase, (2) the neutralization phase, and (3) the recovered solution management phase.
The majority of the test activities (leaching and neutralization phase) will occur within an estimated 60-day operating time frame, with the construction and placement of temporary facilities commencing approximately two months prior to the commissioning of the test facilities and initiation of the leaching phase.
The leaching phase is designed to assess the effectiveness and efficiency of the leaching process in the mineralized zone, at a depth of approximately 400m below the surface. The leaching phase includes the controlled injection of an acidic solution into a portion of the existing Test Pattern within the mineralized zone (the "Leaching Zone") and the recovery of the solution back to the surface using existing test wells. The recovered solution from the leaching phase is expected to contain dissolved minerals, including uranium, copper, iron, molybdenum, and zinc. Once on surface, the recovered solution (up to a maximum of 500 cubic metres) will be stored temporarily in tanks in accordance with approved environmental protection containment measures.
The neutralization phase includes the recovery of the remainder of the leached mineralized solution from the Leaching Zone and is intended to verify the efficiency and effectiveness of the process for returning the Leaching Zone to near baseline conditions. During this phase, a mild alkaline (basic) solution will be injected into the Leaching Zone to neutralize the area and reverse the residual effects of the acidic solution injected during the leaching phase. The recovered solution from the neutralization phase (up to a further maximum of 500 cubic metres) will also be stored temporarily on surface in tanks in accordance with approved containment measures.
The recovered solution management phase involves separating the solution recovered from both the leaching phase and the neutralization phase into (i) mineralized precipitates and (ii) a neutralized treated solution. The mineralized precipitate will be temporarily stored on surface in steel tanks and the neutralized treated solution will be re-injected into a designated subsurface area.
FFT Facilities
Temporary surface facilities required to complete the FFT are planned to be installed at the Phoenix site during the third quarter of 2022. The procurement of necessary materials, equipment, and supplies, as well as detailed engineering of the facilities are already well advanced.
The FFT site is planned to include the following facilities and infrastructure:
Tanker pad – for storage of tanker trucks used for delivery of reagents to site.
Injection solution preparation module – a modular unit where groundwater will be mixed with reagents to prepare the injection solution.
Test pattern coverall building – a tension-fabric building to be built over the test area.
Recovered solution surge tank – the surge tank will receive recovered solution from the test wells.
Solution storage tanks – six (6) tanks are expected to be installed to provide a total of 1,000 cubic metres of solution storage. These tanks are designed to receive solution pumped from the recovered solution surge tank for temporary storage before separating the recovered solution into mineralized precipitates and a neutralized treated solution during the recovered solution management phase of the FFT.
Piping – double-walled transfer piping will run from the recovered solution surge tank (next to the test wells) to the solution storage tanks.
Recovered solution management modules – two modular units will be mobilized to site that contain equipment for managing the recovered solutions.
Mineralized precipitate storage tanks – during the recovered solution management phase, the mineralized precipitate will be transferred into fully enclosed and lockable storage tanks. The mineralized precipitate storage tanks will be placed in a secure fenced area for temporary storage.
Laboratory – a mobile laboratory will be located on site and equipped for bench-scale testing of samples.
Construction / Operations Centre – a mobile office will serve as a construction office and operations centre as well as the main gate entry point for the site.
Wash car and change room – a mobile facility will allow staff to change and wash before and after each shift at the Phoenix site.
Perimeter fence – the entire area (~8,820 square meters) will be fenced and gated to control access and minimize interactions with wildlife.
All civil earthworks required for the FFT site are expected to occur on previously disturbed areas and no additional land clearing is planned.
Figure 1 provides a plan view of the expected FFT site layout. Figures 2 and 3 provide isometric schematics of the site facilities.
Approval to Operate Pollutant Control Facilities
Under the terms of the Approval to Operate Pollutant Control Facilities obtained from the Minister, Denison is authorized to construct and operate various regulated elements associated with the FFT, including pollutant control facilities, mineralized precipitate facilities, radon air pollution abatement equipment, and hazardous substances and waste dangerous goods storage facilities.
The approval includes specific operating conditions related to (a) mineralized precipitate, recovered solution and drill cuttings, handling, and transportation, (b) hazardous substances material storage, handling, and transportation, (c) air management, (d) water/wastewater management, and (e) waste handling, transportation, and disposal. Additionally, the approval includes provisions related to inspections, monitoring, reporting, and decommissioning and reclamation.
About Wheeler River
Wheeler River is the largest undeveloped uranium project in the infrastructure rich eastern portion of the Athabasca Basin region, in northern Saskatchewan – including combined Indicated Mineral Resources of 132.1 million pounds U3O8 (1,809,000 tonnes at an average grade of 3.3% U3O8), plus combined Inferred Mineral Resources of 3.0 million pounds U3O8 (82,000 tonnes at an average grade of 1.7% U3O8). The project is host to the high-grade Phoenix and Gryphon uranium deposits, discovered by Denison in 2008 and 2014, respectively, and is a joint venture between Denison (operator) and JCU (Canada) Exploration Company Limited ("JCU"). Denison has an effective 95% ownership interest in Wheeler River (90% directly, and 5% indirectly through a 50% ownership in JCU).
A PFS was completed for Wheeler River in 2018, considering the potential economic merit of developing the Phoenix deposit as an ISR operation and the Gryphon deposit as a conventional underground mining operation. Taken together, the project is estimated to have mine production of 109.4 million pounds U3O8 over a 14-year mine life, with a base case pre-tax NPV of $1.31 billion (8% discount rate), Internal Rate of Return ("IRR") of 38.7%, and initial pre-production capital expenditures of $322.5 million. The Phoenix ISR operation is estimated to have a stand-alone base case pre-tax NPV of $930.4 million (8% discount rate), IRR of 43.3%, initial pre-production capital expenditures of $322.5 million, and industry-leading average operating costs of US$3.33/lb U3O8. The PFS is prepared on a project (100% ownership) and pre-tax basis, as each of the partners to the Wheeler River Joint Venture are subject to different tax and other obligations.
Further details regarding the PFS, including additional scientific and technical information, as well as after-tax results attributable to Denison's ownership interest, are described in greater detail in the NI 43-101 Technical Report titled "Pre-feasibility Study for the Wheeler River Uranium Project, Saskatchewan, Canada" dated October 30, 2018, with an effective date of September 24, 2018. A copy of this report is available on Denison's website and under its profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.shtml.
Denison suspended certain activities at Wheeler River during 2020, including the EA process, which is on the critical path to achieving the project development schedule outlined in the PFS. While the EA process has resumed, the Company is not currently able to estimate the impact to the project development schedule outlined in the PFS, and users are cautioned against relying on the estimates provided therein regarding the start of pre-production activities in 2021 and first production in 2024.
About Denison
Denison is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. In addition to its effective 95% interest in the Wheeler River project, Denison's interests in the Athabasca Basin include a 22.5% ownership interest in the McClean Lake joint venture, which includes several uranium deposits and the McClean Lake uranium mill that is contracted to process the ore from the Cigar Lake mine under a toll milling agreement, plus a 25.17% interest in the Midwest Main and Midwest A deposits, and a 66.90% interest in the Tthe Heldeth Túé ("THT", formerly J Zone) and Huskie deposits on the Waterbury Lake property. The Midwest Main, Midwest A, THT and Huskie deposits are each located within 20 kilometres of the McClean Lake mill.
Through its 50% ownership of JCU, Denison holds additional interests in various uranium project joint ventures in Canada, including the Millennium project (JCU 30.099%), the Kiggavik project (JCU 33.8123%) and Christie Lake (JCU 34.4508%). Denison's exploration portfolio includes further interests in properties covering ~280,000 hectares in the Athabasca Basin region.
Denison is also engaged in post-closure mine care and maintenance services through its Closed Mines group (formerly Denison Environmental Services), which manages Denison's reclaimed mine sites in the Elliot Lake region and provides related services to certain third-party projects.
Qualified Persons
The disclosure of scientific or technical information related to the FFT or Wheeler River project contained in this release has been reviewed and approved, as applicable, by Mr. David Bronkhorst, P.Eng, Denison's Vice President, Operations or Mr. Andrew Yackulic, P. Geo., Denison's Director, Exploration, who are Qualified Persons in accordance with the requirements of NI 43-101.
Cautionary Statement Regarding Forward-Looking Statements
Certain information contained in this news release constitutes 'forward-looking information', within the meaning of the applicable United States and Canadian legislation, concerning the business, operations and financial performance and condition of Denison. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'potential', 'plans', 'expects', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes', or the negatives and/or variations of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' 'be taken', 'occur' or 'be achieved'.
In particular, this news release contains forward-looking information pertaining to the following: expectations with respect to the FFT program, scope, timing and the anticipated results thereof; the expectation that Denison will receive all required permitting for the FFT, including CNSC approvals; and expectations regarding its joint venture ownership interests and the continuity of its agreements with its partners and third parties.
Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Denison to be materially different from those expressed or implied by such forward-looking statements. For example, the modelling and assumptions upon which the work plans for exploration and/or the Wheeler River Project are based may not be maintained after further work is completed. In addition, Denison may decide or otherwise be required to discontinue exploration, testing, evaluation and development work if it is unable to maintain or otherwise secure the necessary resources (such as testing facilities, capital funding, regulatory approvals, etc.). Denison believes that the expectations reflected in this forward-looking information are reasonable but no assurance can be given that these expectations will prove to be accurate and results may differ materially from those anticipated in this forward-looking information. For a discussion in respect of risks and other factors that could influence forward-looking events, please refer to the factors discussed in Denison's Annual Information Form dated March 25, 2022 or subsequent quarterly financial reports under the heading 'Risk Factors'. These factors are not, and should not be construed as being exhaustive.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Any forward-looking information and the assumptions made with respect thereto speaks only as of the date of this news release. Denison does not undertake any obligation to publicly update or revise any forward-looking information after the date of this news release to conform such information to actual results or to changes in Denison's expectations except as otherwise required by applicable legislation.
Figure 1: Plan map showing location of FFT facilities (CNW Group/Denison Mines Corp.)
Figure 1: Plan map showing location of FFT facilities
Figure 2: Isometric view of the planned FFT site and associated facilities (CNW Group/Denison Mines Corp.)
Figure 2: Isometric view of the planned FFT site and associated facilities
Figure 3: Isometric view of the coverall building on the FFT site, including test wells, injection solution preparation module, and recovered solution surge tank (CNW Group/Denison Mines Corp.)
Figure 3: Isometric view of the coverall building on the FFT site, including test wells,
injection solution preparation module, and recovered solution surge tank
Denison Receives Approval to Construct and Operate Phoenix Feasibility Field Test Facility from Saskatchewan Minister of Environment (CNW Group/Denison Mines Corp.)
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Madison Metals Announces Two New Uranium Anomalies and Provides Exploration Update on EPL-7011, Namibia
https://ca.finance.yahoo.com/news/madison-metals-announces-two-uranium-132700202.html
Madison Metals Inc.
Mon, July 11, 2022 at 6:27 a.m.·4 min read
Figure 1:
Geology of EPL-7011.
Figure 2:
Airborne radiometric signatures (U/Th and U) over EPL-7011.
Figure 3:
Ground radiometric surveying results from EPL-7011.
TORONTO, July 11, 2022 (GLOBE NEWSWIRE) -- Madison Metals Inc. (“Madison” or the “Company”) (CSE: GREN) is pleased to announce the delineation of two new uranium anomalies at its Rössing North Uranium Project in Namibia, Africa, one of the world’s top uranium-producing countries. Additionally, Madison is making ongoing exploration progress on its Exclusive Prospecting License 7011 (“EPL-7011”), a major untested anomaly adjacent to the Rössing Uranium Mine in the renowned Erongo uranium province of Namibia.
“These very encouraging results have confirmed the expected high potential of EPL-7011,” said Duane Parnham, Executive Chairman and CEO of Madison Metals. “Our team expects to plan drilling of the anomalies to further define the potential for a major uranium deposit on Madison’s Rössing North Project.”
Airborne radiometric data acquired from the Namibian Ministry of Mines and Energy indicated high uranium with low thorium values over Madison’s exclusive licence area. Exploration activities to date have focused on field validation of the uranium anomalies via a systematic ground radiometric and geological survey. The field validation confirms the presence of uranium anomalous sheeted alaskites intruding the Khan Formation, which is overlain by the Rössing formation.
EPL-7011
In June 2022, the Namibian Ministry of Mines and Energy approved the transfer of EPL-7011 to Pennyworth PTY, which is majority-owned by Madison (85%), with Namibian partners holding 15%. EPL-7011 and EPL-8513, whose transfer is in progress, make up Madison’s Rössing North Uranium Project.
EPL-7011 covers a total area of 26.13 km2 and is located immediately west of the 3.5-kilometre-long Rössing Uranium Mine (Figure 1). The largely underexplored EPL contains units of the Damara Supergroup represented by the Khan, Rössing, Chuos, Arandis and Karibib Formations. Sheeted alaskites intrude into the Khan Formation, which is a favourable stratigraphic setting for Rössing-type deposits in the Central Namib. A series of synforms and antiforms, including isoclinal folding, also occur over the licence area.
Geology of EPL-7011.
Figure 1: Geology of EPL-7011.
Ground Radiometric and Geological Survey
The survey was conducted over a line spacing of 80 metres (m) and station spacing of 10 m across the airborne radiometric anomalies in the area (Figure 2). The anomaly discovered in the SE portion of the EPL can be split into two: the south-westernmost anomaly and the north-easternmost anomaly (Figure 3). Both anomalies share the same type of lithologies, style of mineralization and structural setting. The lithologies in the area have a general north-east strike and steeply dip towards the south-east. The alaskites occur within isoclinal folding closures close to the Khan-Rössing Formation boundary. The radiometric readings from these alaskites vary from 600 to 6,000 counts per second. The ground radiometric surveying shows that the uranium anomaly has a strike extent of 650 m at the south-westernmost anomaly and 3.4 km at the north-easternmost anomaly.
Airborne radiometric signatures (U/Th and U) over EPL-7011.
Figure 2: Airborne radiometric signatures (U/Th and U) over EPL-7011.
Ground radiometric surveying results from EPL-7011.
Figure 3: Ground radiometric surveying results from EPL-7011.
The survey over the north-easternmost anomaly could not be extended further towards the north-east due to the Rössing Mine fence. Permission will be required from Rössing to extend the survey further to the north-east.
Qualified Person
Mary Barton, a Professional Natural Scientist (SACNASP) and a Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects for EPL-7011, has reviewed, verified and approved the technical information contained in this news release.
About Madison Metals Inc.
Madison Metals Inc (CSE: GREN) is a green energy resource company with experienced management having particular expertise in the uranium mining industry. Madison’s corporate objective is to build value by advancing Rössing-type deposits identified in Canada and Namibia, Africa by utilizing cutting-edge technology and modern strategies.
Additional information about Madison Metals Inc. can be found at madisonmetals.ca and on the Company’s SEDAR profile at www.sedar.com.
For further information, please contact:
Duane Parnham
Executive Chairman & CEO
Madison Metals Inc.
+1 416.489.0092
ir@madisonmetals.ca
Media:
Adam Bello
Manager, Media & Analyst Relations
Primoris Group Inc.
+1 416.489.0092
media@primorisgroup.com
Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Statements
This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements include words or expressions such as “proposed”, “will”, “subject to”, “near future”, “in the event”, “would”, “expect”, “prepared to” and other similar words or expressions. Forward-looking information contained in this press release includes, but is not limited to, the following: the ability of the Company to conduct future exploration at the Rössing North Project, including but not limited to the timing and amount of estimated future exploration; the potential for future exploration to locate uranium deposits; and the development potential and timetable of the Rössing North Project.
Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital and other resources will be available to the Company to carry out its operations as currently planned.
Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include general business, economic, competitive, political and social uncertainties; there being no assurances that the proposed exploration program will yield favourable results; the state of capital markets; the risk that the Company will not receive all necessary approvals required in order to conduct its operations as currently anticipated; accidents, labour disputes and shortages; environmental and other risks of the mining industry; other unforeseen events and developments; factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant; and risks associated with the ongoing COVID-19 pandemic.
You can find further information with respect to these and other risks in filings made with the Canadian securities regulatory authorities that are available on the Company’s SEDAR profile page at www.sedar.com. The Company disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/d70003c6-d78f-46c3-b95d-1cb374c47945
https://www.globenewswire.com/NewsRoom/AttachmentNg/77527ff0-32b9-4210-9ce9-5e2cbd4d8c4d
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Okapi takes an option over Hansen in the US
https://www.miningweekly.com/article/okapi-takes-an-option-over-hansen-in-the-us-2022-07-12/rep_id:3650
12th July 2022
By: Esmarie Iannucci
Creamer Media Senior Deputy Editor: Australasia
PERTH (miningweekly.com) – Explorer Okapi Resources has completed the acquisition of a 51% interest in the Hansen uranium deposit, in Colorado, increasing the mineral resource estimate for its greater Tallahassee uranium project to 42-million tonnes, at 540 parts per million, for 49.8-million pounds of contained uranium.
Okapi in April this year struck an agreement to acquire the majority interest in the Hansen deposit, which is adjacent to Okapi’s Taylor and Boyer uranium deposits
Under the terms of the agreement, Okapi paid $50 000 on the execution of a binding term sheet and $450 000 on entering into a definitive option agreement. The option can be maintained for a period of five years, and by paying $250 000 yearly, with Okapi having the right to conduct mineral prospecting, exploration, development, mining and related activities during this period.
The option period could be extended for a further three years for the payment of $500 000 yearly.
Okapi also has the right to exercise the option during this eight-year period by paying $5-million, at which time it will receive the majority interest in the asset, reserving a royalty of 1.5%.
“The coming period is a very exciting time, with the company recently commencing diamond drilling at its 100% owned Enmore gold project in New South Wales, about to embark on an extensive summer field exploration programme in the Athabasca basin, and we continue to advance our Tallahassee uranium project in the US which has significant strategic value given the recent geopolitical developments in the US uranium industry,” said Okapi MD Andrew Ferrier.
“The announcements by the Biden Administration in early June 2022 marks a new beginning for the domestic US uranium industry. Citing Russia’s ongoing invasion of Ukraine, the Biden Administration is now proposing a plan whereby the Department of Energy is requesting Congress approval to purchase $4.3-billion of enriched uranium directly from domestic producers, which is aimed at dramatically reducing America’s dependence on Russian imports of uranium.”
ST. JAMES GOLD CORP. MOBILIZES DRILL AND CREWS TO THE FLORIN GOLD PROJECT IN YUKON TERRITORY, CANADA
https://ca.finance.yahoo.com/news/st-james-gold-corp-mobilizes-123000616.html
St. James Gold Corp.
Tue, July 5, 2022 at 5:30 a.m.·7 min read
St. James Gold Corp.
FSE: BVU3 Figure 1: Location of Florin Gold Project
St. James Gold Corp.
Figure 2: Drill targets for 2022 drill program in the East Zone
St. James Gold Corp.
Figure 3: West Zone 2021 Florin Project soil sampling results
Vancouver, British Columbia, July 05, 2022 (GLOBE NEWSWIRE) -- St. James Gold Corp. (the “Company”) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to announce that it has commenced camp construction and mobilized drill equipment and crew to the road accessible Florin Gold Project which is host to the 2.47 million ounce Florin Inferred Resource*, located within the Florin Project area, 60 km northwest of Mayo County, Yukon Territory, Canada (Fig 1).
Figure 1: Location of Florin Gold Project
* The Florin Gold Project contains an inferred resource of 2,474,000 oz gold contained in 170,993,000 tonnes grading 0.45 g/t with a cut-off of 0.30g/t, at a $1,650 gold price. For additional information, see the Technical Report prepared in accordance with National Instrument 43-101 entitled Florin Gold Project NI 43-101 Technical Report, Mayo and Dawson Mining Districts, Yukon Territory, by Ronald G Simpson, P.Geo. of GeoSim Services Inc., dated April 6, 2021, a copy of with is available under the Company’s SEDAR profile.
The 16-member crew will oversee a diamond drill program of up to 8,500 metres. The drill program is aimed at expansion of the 2.47 million ounce inferred gold resource which is contained in 170,993,000 tonnes grading 0.45 g/t with a cut-off of 0.30 g/t* and sits on a northwest striking structure known as the Jethro Fault. Highlights of the proposed drilling campaign include:
Mobilization of crew and the initiation of camp construction
A drill program between 7,000 and 8,500 metres planned to increase the existing inferred gold resource
Priority step-out drill targets adjacent to existing resource
Approximately 900 metres of a 5-kilometre structure drill-tested to date
2021 soil geochemistry results better define 2022 drill targets
Interpretation of the 2021 LiDAR survey to better define structural targets for the 2022 drill program
The existing inferred resource is based on drilling approximately 900 metres along the strike of the fault, which has been traced for five kilometres and is the site of three further, significant geochemical anomalies. The planned program intends to drill up to 30 priority targets down to a depth of 400 metres in two target areas:
1) Around the Treadwell Structure area in the East Zone, adjacent to the inferred resource, where gold in soil assays along with historic drill intercepts and rock chip sampling assays from St James’ 2021 field program returned high-grade gold results (see Company news release dated April 29, 2022 and Figure 2).
Figure 2: Drill targets for 2022 drill program in the East Zone
2) In the anticipated, westerly on-strike extension of the existing inferred resource, and in the vicinity of an historic drill hole, ICE10-028, assays from which returned 526m grading 0.75 g/t Au (see Company news release dated April 29, 2022 and Figure 3).
Figure 3: West Zone 2021 Florin Project soil sampling results
Both these priority target areas support prior exploration efforts wherein the Company traced the Jethro Fault for more than five kilometres of which only 1.2 kilometres has been partially drill tested showing the current inferred resource sitting on an 875 metre section of the Fault.
George Drazenovic, CEO of St. James Gold comments, “We are launching the 2022 drill campaign to prioritize the most prospective areas as informed by an accumulation of data, including geochemical work, geophysics and from previous exploration seasons. Geological mapping, sampling, drilling and geophysical work completed in prior seasons indicate expansion potential of the resource to the northwest and southeast on the Jethro fault. Our key objective for this season is to extend the footprint of the inferred resource”.
Dr. Stewart Jackson, P.Geo., senior technical advisor geologist, and a Qualified Person within the meaning of National Instrument 43-101 (Standards of Disclosure for Minerals Projects), has reviewed and approved the technical and scientific information presented herein as accurate and has approved this news release.
About St James Gold Corp.
St. James Gold Corp. is a publicly traded company listed on the TSX Venture Exchange under the trading symbol “LORD”, in the U.S. Market listed on OTCQB under "LRDJF" and on the Frankfurt Stock Exchange under “BVU3”. The Company is focused on creating shareholder value through the discovery and development of economic mineral deposits by acquiring prospective exploration projects with well-delineated geological theories; integrating all available geological, geochemical, and geophysical datasets; and financing efficient exploration programs. The Company currently holds: (i) 100-per-cent stake in 29 claims, covering 1,791 acres, in the Gander gold district in north-central Newfoundland located adjacent to New Found Gold Corp.'s Queensway North project; and (ii) a 100-per-cent stake in 9 claims and an option to acquire a further 100-per-cent interest in 19 claims, covering a total 1,730 acres, in central Newfoundland located adjacent to Marathon Gold's Valentine Lake property; and (iii) an option to acquire up to an 85-per-cent interest in the Florin Gold Project, covering nearly 22,000 contiguous acres in the historical Tintina gold belt in Yukon Territory, Canada.
For more corporate information please visit: http://stjamesgold.com/
St. James Gold Corp.
For further information, please contact:
George Drazenovic, Chief Executive Officer
Tel: 1 (800) 278-2152
Email: info@stjamesgold.com
Forward Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws (collectively, “forward-looking statements”). All other statements that are not historical facts, particularly statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance of the Company. Often, but not always, forward-looking statements can be identified through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”. Forward-looking statements contained in this news release are made based on reasonable estimates and assumptions made by management of the Company at the relevant time in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate and reasonable in the circumstances. Forward-looking statements contained in this news release are made as of the date of this news release and the Company will not update any such forward-looking statements as a result of new information or if management’s beliefs, estimates, assumptions or opinions change, except as required by law. 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, the reader is cautioned not to place undue reliance on forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control, which could cause actual results, performance, achievements and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID-19 pandemic and other factors outlined in the Company’s Annual Information Form dated July 26, 2021 (the “AIF”) filed under the Company’s profile on SEDAR at www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in its AIF on SEDAR are not exhaustive and other factors could materially affect its results.
New factors emerge from time to time, and it is not possible for the Company to consider all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
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.
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Traction Uranium Executes Service Agreement with University of Saskatchewan Research Team to Utilize Innovative Uranium Vectoring Technique using Radiation-Induced Defects in Quartz
https://ca.finance.yahoo.com/news/traction-uranium-executes-agreement-university-120000572.html
Traction Uranium Corp.
Wed, July 6, 2022 at 5:00 a.m.·3 min read
VANCOUVER, British Columbia, July 06, 2022 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (the “Company” or “Traction”) (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K), a mineral exploration issuer focusing on the development of discovery prospects in Canada, including its two flagship uranium projects in the world-renowned Athabasca Region, is pleased to announce execution of a master service agreement with the University of Saskatchewan to add to the Companies exploration programs at both Hearty Bay and Lazy Edward Bay.
Lester Esteban, Chief Executive Officer, stated “The Saskatchewan expertise in mining and uranium is what makes this province one of the best rated jurisdictions for mining and exploration. The innovation coming out of the University of Saskatchewan elevates the industry, the novel technique pioneered by Dr. Yuanming Pan will assist us in determining whether a target area had uranium-bearing fluids or not and help our team define and trace the conduit(s) of uranium-bearing fluids. The data derived from the work will assist us in returning a more cost effective and higher accuracy drilling program over our peers by examining quartz degradation caused by radiation emitted from decaying uranium as another vector to our program. By focusing our efforts in the right areas and combining this new technology with the data gathered from our drilling programs, we maximize the dollars in the ground for our investors.”
Technical Overview:
The intended research collaboration between the University of Saskatchewan and Traction Uranium Corp will make use of radiation-induced defects in quartz as a new vector for uranium exploration at the Hearty Bay and Lazy Edward Bay property in northern Saskatchewan. This research is based on the discovery of some radiation-induced defects in quartz formed from the bombardment of alpha particles emitted from the decay of uranium (and thorium) isotopes. Therefore, the amounts of these radiation-induced defects in quartz often record the quantity/duration of uranium-bearing fluids that existed in that area in the past.
This method started from research on the Key Lake and McArthur River mines and has been applied to the Maw Zone, the Phoenix Deposit, and the Arrow Deposit.
The main analytical techniques used for this research are cathodoluminescence (CL) imaging and electron paramagnetic resonance (EPR) spectroscopy. The former technique visually detects radiation-induced defects in minerals but is less sensitive, while the latter is more sensitive and allows quantitative estimations of radiation-induced defects.
The program will start with a systematic sampling of the Hearty Bay and Lazy Edward Bay property and is followed by careful sample preparations and data analyses (polished thin sections for CL imaging and mineral separates for EPR). The anticipated results from this research are in the form of a detailed documentation on the distribution (both 2D and 3D) of radiation-induced defects in quartz at both properties, which can be integrated with data from other techniques (e.g. geophysics and geochemistry) to guide the exploration program (i.e., narrowing down targets for further exploration).
About Traction Uranium Corp.
Traction Uranium (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) is in the business of mineral exploration and the development of discovery prospects in Canada, including its two flagship uranium projects in the world-renowned Athabasca Region.
We invite you to find out more about our exploration-stage activities across Canada’s Western region at www.tractionuranium.com.
On Behalf of the Board of Directors
Lester Esteban
Chief Executive Officer
+1 (604) 561 2687
info@tractionuranium.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 expected use of proceeds from the Private Placement are “forward-looking statements”. 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 as a result of new information, future events or otherwise, unless so required by applicable securities laws.
CAT Strategic Metals Completes Initial Airborne Geophysical Survey of Key Parts of its South Preston Uranium Project in Canada’s Prolific Athabasca Basin
https://ca.finance.yahoo.com/news/cat-strategic-metals-completes-initial-120000362.html
Tue, July 5, 2022 at 5:00 a.m.·5 min read
VANCOUVER, BC / ACCESSWIRE / July 5, 2022 / CAT Strategic Metals Corporation (CSE:CAT)(OTC:CATTF)(FRA:8CHA) ("CAT" or the "Company") reports that, further to its news release of April 13, 2022, announcing an airborne survey on the East Preston Project in Canada's prolific Athabasca Basin, the Company has completed a detailed helicopter-borne geophysical survey over specific and carefully chosen portions of the Company's flagship South Preston Uranium Property. The project is located on the south-western margin of the Athabasca Basin approximately 35 km from the uranium deposits discovered in the Patterson Lake South area by Fission Uranium Corp. ("Fission" or "FCU") and NexGen Energy Ltd. ("NexGen" or "NXE").
CAT's just completed survey totaled 984.7 line-kilometres covering two key target areas that were identified by internationally recognized and acclaimed mining consultants, Watts, Griffis and McOuat Limited ("WGM") which was engaged by the Company in October, 2021 for the purpose of advising on, and managing, the exploration of the South Preston property. CAT's South Preston Uranium Project is comprised of 29,395 hectares, and shares more than 10km of the adjacent property border with NexGen, as well as 50km of contiguous claim border with Azincourt Energy Corp. ("Azincourt" or "AAZ")
The target areas that were surveyed have geological similarities that offer significant potential for basement-hosted, unconformity-type uranium deposits; such as Fission's Triple R deposit and other deposits located in the eastern basin, such as Rabbit Lake. The airborne EM and magnetometer survey was focused on the probable extension of known graphitic conductors adjacent to the CAT property, some of which are associated with areas of elevated background radioactivity and radioactive boulders. One survey area covers a zone that was previously described as a graphitic shear zone containing visible uranium mineralization in outcrop.
The CAT project area has never been explored in any systematic manner, and is almost entirely untouched by modern geophysical survey techniques. Recent work by Azincourt, CAT's neighbour, has identified prospective zones on its own property, which is primarily north of CAT's property, immediately northwest of the CAT South Preston Project. Prior to the most recent exploration work carried out by AAZ, Denison Mines carried out various exploration activities in the 1970's that was focused on the Athabasca sandstone unconformity; which is largely, but not entirely, absent from CAT's South Preston property.
CAT's initial airborne geophysical survey forms part of an integrated, multi-stage exploration program designed to uncover the property's true potential gong forward.
Following the interpretation of this airborne geophysical survey's data in the coming weeks, a WGM team will be mobilized and on the ground during August to conduct follow-up exploration protocols which will focus on the highly favourable areas that were identified in the most recent report compiled by WGM. This report was the result of examining all of the previous, and various, data sets that - until now - were never amalgamated into a single database. Of particular interest were those areas where conductors are present, or evidence of uranium mineralization has been previously described.
CAT's CEO, Robert Rosner, stated that "This survey is the first step in a comprehensive and ongoing exploration plan designed to uncover and determine the true nature, and potential worth, of our large land position in the Athabasca Basin. We are very excited to begin the exploration work that we have been wanting to do since we first acquired this project last year. If the ongoing exploration results of our neighbour, Azincourt, are any indication of what we might find on our own land, then we have every reason to be even more excited."
About WGM
Founded in 1962, WGM is Canada's longest operating independent firm of geological and mining consultants providing professional services to the global minerals industry. WGM has been involved in more than 3,000 mineral projects around the world, and its staff has made significant contributions to a number of important mineral discoveries and new mines. Notably among them are the Mary River iron deposits on Baffin Island, Asbestos Hill in Quebec, the Greens Creek silver-gold-zinc mine and the Pogo gold mine; both in Alaska. As acknowledged by Cominco (now Teck), WGM played a major role in the recognition of the massive Red Dog Pb-Zn mine in Alaska as a very high-priority exploration target.
About CAT Strategic Metals Corporation (CAT)
CAT Strategic Metals' corporate strategy, as reflected in its overall Mission Statement, is to source, identify, acquire and advance property interests located in mineral districts proven to have world-class potential, primarily for gold and copper. In addition to the priority South Preston Uranium Project, CAT' is focused on advancing the Burntland Project located northeast of St. Quentin in the Restigouche County, New Brunswick, Canada, directed at the exploration and development of several Skarn-hosted copper-silver, gold targets and the Gold Jackpot strategic metals property located NE of Elko, Nevada, in the Pequop gold-copper trend with multiple targets for gold-silver, copper, and tellurium. CAT's shares trade on the Canadian Securities Exchange (CSE) under the trading symbol "CAT", and on the Frankfurt Stock Exchange under the symbol "8CH".
ON BEHALF OF THE BOARD
Robert Rosner
Chairman, President & CEO
Further information regarding the Company can be found on SEDAR at www.SEDAR.com, by visiting the Company's website www.catstrategic.com or by contacting the Company directly at (604) 674-3145.
This news release may contain 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. Particular risks applicable to this press release include risks associated with planned production, including the ability of the company to achieve its targeted exploration outline due to regulatory, technical or economic factors. In addition, there are risks associated with estimates of resources, and there is no guarantee that a resource will be found or have demonstrated economic viability as necessary to be classified as a reserve. There is no guarantee that additional exploration work will result in significant increases to resource estimates
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
We seek safe harbour.
SOURCE: CAT Strategic Metals Corporation
View source version on accesswire.com:
https://www.accesswire.com/707521/CAT-Strategic-Metals-Completes-Initial-Airborne-Geophysical-Survey-of-Key-Parts-of-its-South-Preston-Uranium-Project-in-Canadas-Prolific-Athabasca-Basin
Searchlight Resources Confirms Strong Radioactivity at South Kulyk Lake Uranium Target
https://ca.finance.yahoo.com/news/searchlight-resources-confirms-strong-radioactivity-131500576.html
Wed, July 6, 2022 at 6:15 a.m.·5 min read
VANCOUVER, BC / ACCESSWIRE / July 6, 2022 / Searchlight Resources Inc. ("Searchlight" or the "Company") (TSXV:SCLT)(OTC PINK:CNYCF)(FSE:2CC2) is pleased to announce the Company has completed the initial prospecting program on the Kulyk Lake Uranium project, located approximately 165 km north of La Ronge, Saskatchewan, and 65 km south of the Key Lake Uranium Mine.
Highlights
2021 Anomalous airborne radiometric results verified
Field scintillometer readings up to 13,000 counts per second
Searchlight Resources has recently completed the initial prospecting program on the Kulyk Lake Uranium project, designed to confirm a previously unknown uranium target identified by the 2021 airborne radiometric survey (Map 1, [1]).
The field program, completed by Axiom Exploration Group Ltd. (Axiom), has located a zone of strong surface radioactivity within newly mapped pegmatites on a bedrock ridge southwest of Kulyk Lake (Map 2). A total of 49 grab samples were collected, along with 84 scintillometer readings. The scintillometer readings included 47 values over 1,000 counts per second (cps), with values up to 13,000 cps. The grab samples will be submitted to the Saskatchewan Research Council laboratory in Saskatoon for complete analysis.
"This is an excellent result, with just 3 days of first pass prospecting outlining a radioactive surface showing of at least 150 m x 50 m, in an area with no previous documented work", stated Stephen Wallace, Searchlight's CEO. "This result, along with the potential rare earth results, give Searchlight plenty of targets for follow-up exploration".
Searchlight Resources Inc., Wednesday, July 6, 2022, Press release picture
Searchlight Resources Inc., Wednesday, July 6, 2022, Press release picture
About Kulyk Lake
The Kulyk Lake project covers 349 square kilometers of 100%-held staked claims located approximately 165 km north of La Ronge, Saskatchewan, and 65 km south of the Key Lake Uranium Mine. Searchlight Resources originally staked the claims based on the Fanta showing, a historically known occurrence of massive monazite, and the Eldorado uranium showing on the south shore of Kulyk Lake.
Mineral exploration was previously carried out between 2009 and 2011, primarily on the south shore of Kulyk Lake. This area, including the Eldorado uranium zone and the Fanta rare earths zone and immediate surroundings, were systematically mapped and trenched by Terralogic Consultants [2]. Results included 0.785% U3O8 over 1.1 m from sample DFKJR040 at the Eldorado showing, and 0.793% U3O8 in a sample located near the Yellow Brick Road showing, named for the yellow uranium staining on surface.
In September 2021, Searchlight Resources completed an airborne radiometric survey which outlined significant new thorium and uranium targets [3].
About Pegmatites
An exceptionally coarse-grained igneous rock with interlocking crystals, usually found as irregular dikes, lenses, or veins, especially at the margins of batholiths. Most grains are at least 1 cm in diameter. Although pegmatites have gross compositions similar to other rock types, their composition is generally that of granite. The composition may be simple or complex and may include rare minerals rich in such elements as lithium, beryllium, cesium, fluorine, niobium, tantalum, uranium, and rare earth elements. Pegmatites represent the last and most hydrous portion of a magma to crystallize, and hence contain high concentrations of minerals present only in trace amounts in granitic rocks.
Cautionary Note
Natural gamma radiation in surface prospecting reported in this news release was measured in counts per second (cps) using a handheld RS-125/230 gamma-ray scintillometer. The reader is cautioned that Searchlight uses scintillometer readings as a preliminary indication of the presence of radioactive materials (uranium, thorium and/or potassium), and that scintillometer results may not be used directly to quantify or qualify uranium or thorium concentrations of the rock samples measured.
References
Searchlight Resources Press Release, June 23, 2022. https://searchlightresources.com/news/2022/searchlight-resources-begins-field-work-on-rare-earth-and-uranium-targets-on-kulyk-lake-exploration-project/
McKeough, M. A., & Brown, J. (2011). 2010 Trenching and Prospecting, Baska-Eldorado Property, Terralogic Consultants. Saskatchewan Mineral Assessment Database, File Number: 74A11-0054
Searchlight Resources Press Release, October 25, 2021 https://searchlightresources.com/news/2021/searchlight-resources-defines-new-rare-earth-and-uranium-targets-on-kulyk-lake-exploration-project/
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 Inc.
Searchlight Resources Inc. (TSXV:SCLT, US:CNYCF, FSE:2CC2) 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. Exploration focus is on Rare Earth Elements, uranium, battery minerals and gold throughout the province. Searchlight holds over 1,395 square kilometres of claims in Saskatchewan.
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, Chairman
(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.
View source version on accesswire.com:
https://www.accesswire.com/707688/Searchlight-ResourcesConfirms-Strong-Radioactivity-at-South-Kulyk-Lake-Uranium-Target
Searchlight Resources Confirms Airborne Radiometric Anomalies in Ground Survey
https://ca.finance.yahoo.com/news/searchlight-resources-confirms-airborne-radiometric-133700921.html
Mon, July 4, 2022 at 6:37 a.m.·7 min read
VANCOUVER, BC / ACCESSWIRE / July 4, 2022 / Searchlight Resources Inc. ("Searchlight" or the "Company") (TSXV:SCLT)(OTC PINK:CNYCF)(FSE:2CC2) is pleased to announce the Company has completed the initial prospecting program on the Kulyk Lake Rare Earth Element ("REE") project, located approximately 165 km north of La Ronge, Saskatchewan, and 65 km south of the Key Lake Uranium Mine.
Highlights
2021 Anomalous airborne radiometric results verified
Field scintillometer readings of up to 13,800 counts per second
Searchlight expands known area of the Kulyk Lake Pegmatite System
Searchlight Resources has recently completed the initial prospecting program on the Kulyk Lake REE- Uranium project, designed to follow up airborne thorium anomalies identified by the 2021 airborne radiometric survey. Searchlight uses thorium as a pathfinder element to detect the rare earth mineral monazite, which is documented in the Kulyk Lake area.
The prospecting program, which included grab sampling and field scintillometer readings, confirmed the results of the 2021 airborne survey, and revealed an extension to the known pegmatite vein swarm identified by previous work. These pegmatites occur within the Rare Earth Elements Prospecting Zone [1, Map 1].
The field program was completed by Axiom Exploration Group Ltd. (Axiom) and covered approximately 25% of the 6-kilometer-long thorium anomalous zone detected by the 2021 airborne survey. A total of 18 grab samples were collected, along with 80 scintillometer readings. The scintillometer readings included 30 readings over 1,000 counts per second (cps), with values up to 13,800 cps associated with newly mapped pegmatites on the north side of Kulyk Lake.
"We are encouraged by the strong radioactivity detected over a large area on the north side of Kulyk Lake and will follow up with more detailed surveys in this newly identified prospective area", stated Stephen Wallace, Searchlight's CEO.
The grab samples will be submitted to the Saskatchewan Research Council laboratory in Saskatoon for complete analysis. Additionally, Axiom geologists visited the Fanta REE showing, and collected samples of monazite for detailed chemical analysis, petrographic studies and preliminary metallurgical testing.
About Kulyk Lake
The Kulyk Lake project covers 349 square kilometers of 100%-held staked claims located approximately 165 km north of La Ronge, Saskatchewan, and 65 km south of the Key Lake Uranium Mine. Searchlight Resources originally staked the claims based on the Fanta showing, a historically known occurrence of massive monazite on the south shore of Kulyk Lake.
Academic investigations by Watkinson and Mainwaring, 1975 [2] and McKeough et al, 2013 [3], have documented the composition of the Fanta zone monazite-bearing pegmatite, and postulated a genetic model for its formation. The former article documented the monazite as having a constant composition, with REE content of lanthanum oxide 15.1%, cerium oxide 36.1 %, praseodymium oxide 4.9%, neodymium oxide 10.1%, thorium oxide 4.3% and phosphorous oxide 27.8%.
Mineral exploration was previously carried out between 2009 and 2011, primarily on the south shore of Kulyk Lake. This area, including the Eldorado uranium zone and the Fanta REE zone and immediate surroundings, were systematically mapped and trenched by Terralogic Consultants [4]. The Fanta trench samples were described as follows: "Three heavy, radioactive, brick red and black samples were collected from these trenches. All three samples (AGKJR 001 to 003) returned exceptional total rare earth oxide assays of 55.9%, 30.6% and 18.9%, respectively. This is a factor of 10 greater than any rare earth element results we have ever seen in the district and is approaching the theoretical maximum rare earth element content of the mineral monazite. Sample AGKJR003 is a 0.7 m chip sample. Individual rare earth element contents for grab sample AGKJR001 are as follows: Cerium oxide - 28.1%, Neodymium oxide - 9.57%, Europium oxide - 0.086%, and Terbium oxide - 0.051%".
In September 2021, Searchlight Resources completed an airborne radiometric survey which outlined significant new thorium and uranium targets [5].
About Pegmatites
An exceptionally coarse-grained igneous rock, with interlocking crystals, usually found as irregular dikes, lenses, or veins, esp. at the margins of batholiths. Most grains are 1 cm or more in diameter. Although pegmatites having gross compositions similar to other rock types are known, their composition is generally that of granite; the composition may be simple or complex and may include rare minerals rich in such elements as lithium, beryllium, cesium, boron, fluorine, niobium, tantalum, uranium, and rare earths. Pegmatites represent the last and most hydrous portion of a magma to crystallize and hence contain high concentrations of minerals present only in trace amounts in granitic rocks.
About Monazite
Monazite is the primary ore mineral of rare earths globally and contains the element thorium which Searchlight uses as a pathfinder element. Thorium is radioactive and can be detected from airborne and ground radiation surveys.
To advance rare earth production, the Saskatchewan Government, through the Saskatchewan Research Council, has funded a $30 million monazite processing facility in Saskatoon to extract rare earths from monazite concentrates. Kulyk Lake is one of only two high grade monazite deposits known to occur within the province.
Cautionary Note
Natural gamma radiation in surface prospecting reported in this news release was measured in counts per second (cps) using a handheld RS-125/230 gamma-ray scintillometer. The reader is cautioned that Searchlight uses scintillometer readings as a preliminary indication of the presence of radioactive materials (uranium, thorium and/or potassium), and that scintillometer results may not be used directly to quantify or qualify uranium or thorium concentrations of the rock samples measured.
References
Searchlight Resources Press Release, June 23, 2022. https://searchlightresources.com/news/2022/searchlight-resources-begins-field-work-on-rare-earth-and-uranium-targets-on-kulyk-lake-exploration-project/
Watkinson, D. H., & Mainwaring, P. R. (1976). The Kulyk Lake monazite deposit, northern Saskatchewan. Canadian Journal of Earth Sciences. 13(3): 470-475.
McKeough, M. A., Lentz, D. R., McFarlane, C. R., & Brown, J. (2013). Geology and evolution of pegmatite-hosted U-Th±REE-Y-Nb Mineralization, Kulyk, Eagle, and Karin Lakes region, Wollaston Domain, northern Saskatchewan, Canada: examples of the dual role of extreme fractionation and hybridization processes. Journal of Geosciences, 58(4), 321-346.
McKeough, M. A., & Brown, J. (2011). 2010 Trenching and Prospecting, Baska-Eldorado Property, Terralogic Consultants. Saskatchewan Mineral Assessment Database, File Number: 74A11-0054
Searchlight Resources Press Release, October 25, 2021 https://searchlightresources.com/news/2021/searchlight-resources-defines-new-rare-earth-and-uranium-targets-on-kulyk-lake-exploration-project/
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 Inc.
Searchlight Resources Inc. (TSXV:SCLT, US:CNYCF, FSE:2CC2) 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. Exploration focus is on Rare Earth Elements, uranium, battery minerals and gold throughout the province. Searchlight holds over 1,395 square kilometres of claims in Saskatchewan.
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, Chairman
(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.
View source version on accesswire.com:
https://www.accesswire.com/707472/Searchlight-Resources-Confirms-Airborne-Radiometric-Anomalies-in-Ground-Survey
Traction Uranium Intersected Anomalous Radiation in 7 out of 10 Diamond Drill Holes and completes Lazy Edward Summer Drill Program
https://ca.finance.yahoo.com/news/traction-uranium-intersected-anomalous-radiation-070100047.html
Traction Uranium Corp.
Wed, June 29, 2022 at 12:01 a.m.·5 min read
Elevated Levels of Radiation are a Possible Indicator of Uranium Mineralization which will be Confirmed when the Geochemical Results are Received
Table 1
Downhole Gamma Results
Figure 1
Lazy Edward Bay Summer 2022 Drill Location Map
VANCOUVER, British Columbia, June 29, 2022 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (the “Company” or “Traction”) (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) a mineral exploration issuer focusing on the development of discovery prospects in Canada, including its two flagship uranium projects in the world-renowned Athabasca Region and Fission 3.0 Corp. (“Fission 3”), are pleased to announce demobilization and completion of 10 diamond drill holes totalling 3,005 metres at the Lazy Edward Bay property intersecting elevated levels of radiation downhole signaling favorable indicators of Uranium mineralization.
Downhole Gamma Results:
A table accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/730445b1-8616-4f1d-9ecd-62652bf15e1f
Highlights:
Drilling encountered favorable structure, alteration and anomalous radioactivity in the vicinity of historic hole LE-73 on the West Horse conductor. The Company considers greater than 300 cps on the handheld spectrometer, or greater than 500 cps on the downhole gamma probe as anomalous.
The unconformity was intersected at 173 m and a large fault zone was intersected between 178.4 m and 190.1 m.
Several drill targets were defined along the East and West Horse conductors based on the 3D conductance model from the inversion of the VTEM data flown by JNR Resources in 2017. Drill holes LE-009 and LE-010 tested 2 of these targets.
Favorable structure, alteration along with elevated levels of radiation are key indicators for identifying unconformity type, high grade uranium deposits typical in the basin.
Submitted a total of 838 samples for lithogeochemical analysis at SRC Analytical using their “Uranium Package”.
A map accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c9d0514e-bfe4-4215-a18c-ec455e5a7ec0
Lester Esteban, Chief Executive Officer, states “We are encouraged with the drill program at Lazy Edward Bay where 70% of the holes intersected anomalous radiation, indicating that the Western Horse Conductor is showing all the right signs for further work and warranting additional drill testing. Elevated levels of radiation, alteration and structure that had been demonstrated in the drill program are all favorable indicators of possible uranium mineralization nearby and our exploration team will be looking very closely at the geochemical analyses once received to reconcile with the drill data to define high priority follow up targets for our next drill program.”
Natural gamma radiation in the drill core that is reported in this news release was measured in counts per second (cps) using a handheld Radiation Solutions RS-125 scintillometer. Natural gamma radiation in the drill hole surveys that are reported in this news release was measured in counts per second (cps) using a Mount Sopris Instruments QL40-GRA borehole gamma probe. 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 of the presence of radioactive materials. All intersections are down-hole. All depths reported of core interval measurements of radioactivity are not always representative of true thickness.
About the Property
The Lazy Edward Bay property is located halfway between Cameco’s Key Lake Mine and the high-grade Centennial uranium deposit, and hosts NE-trending conductive corridors similar to those associated with Key Lake and Centennial. The major uranium deposits in the eastern Athabasca Basin, including Key Lake, McArthur River and Cigar Lake, are along the NE-trending Wollaston-Mudjatik transition zone and conductive corridor. To the west of the property, the Centennial deposit is localized along the NE-trending Virgin River conductive corridor which transects the entire Athabasca Basin. The Key Lake mine, located ~50 km to the east of the property is accessible by Provincial Highway 914, serviced by the provincial power grid, and has an operating mill where the McArthur River ore has been processed.
The ongoing work program is being funded by Traction in accordance with the terms of the Option Agreement between Fission 3 and Traction, whereby Traction can acquire up to a 70% interest in the Lazy Edward Bay property (see Dec 10, 2021 Fission 3 news release).
About Traction Uranium Corp.
Traction Uranium (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) is in the business of mineral exploration and the development of discovery prospects in Canada, including its two flagship uranium projects in the Athabasca Region.
We invite you to find out more about our exploration-stage activities across Canada’s Western region at www.tractionuranium.com.
About Fission 3.0 Corp.
Fission 3 is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of world's largest high grade uranium discoveries. Fission 3 currently has 16 projects in the Athabasca Basin. Several of Fission 3's projects are near large uranium discoveries, including, Arrow, Triple R and Hurricane deposits. Fission 3 is currently planning a winter exploration/drill program on its PLN project.
https://twitter.com/Fission3Corp
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 approved on behalf of the company by Raymond Ashley, P.Geo., Vice President, Exploration of Fission 3.0 Corp. Mr. Ashley has verified the data disclosed.
On Behalf of the Board of Directors
Lester Esteban
Chief Executive Officer
+1 (604) 561 2687
info@tractionuranium.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 expected use of proceeds from the Private Placement are “forward-looking statements”. 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 as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Standard Uranium Provides Davidson River Drill Program Update and Announces Closing of First Tranche of Brokered Private Placement For C$3.15 Million
https://ca.finance.yahoo.com/news/standard-uranium-provides-davidson-river-134100286.html
Standard Uranium Ltd.
Mon, June 27, 2022 at 6:41 a.m.·7 min read
Figure 1. Plan map highlighting current Phase III Summer 2022 drill holes at Davidson River
Figure 1. Plan map highlighting current Phase III Summer 2022 drill holes at Davidson River
Figure 2
A) The first Thunderbird drill hole on the Davidson River project, DR-22-033A, showing strong structurally controlled hematite-limonite alteration (redox fronts); 163.5m. B) Strong “worm-rock” textured hematite-limonite alteration overprinting graphitic shear planes; DR-22-033A; 163.6m.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, June 27, 2022 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to provide updates on the ongoing summer 2022 drill program at its flagship Davidson River Project (“Davidson River”) in Canada’s premier uranium district, the Athabasca Basin. The Company is also pleased to announce the closing of the first tranche of its ongoing brokered private placement for gross proceeds of $3.15 million.
Key Focus Points:
Davidson River drilling commenced on May 16th, with 2,672 metres completed to date
Redox fronts and metasomatic alteration zones associated with shallow graphitic structures intersected in first Thunderbird drill hole
Focus of drill program shifting to Thunderbird based on results from initial two holes
Brokered private placement first tranche closed for $3.15M
Davidson River – Summer 2022 Drill Program Update
On May 16th, the Company began the fourth drill campaign on its flagship 25,886 hectare Davidson River Project. The drill program is expected to comprise approximately 5,000 metres in 13 drill holes, following-up on the most prospective basement structures and alteration zones intersected to date and testing new target areas along the four major exploration trends on the Project (Figure 1). Several kilometres of graphitic conductors remain to be tested at Davidson River.
Jon Bey, CEO and Chair of the Company commented: “The Davidson River drill program had a very successful start and our drill team from Base Drilling are meeting the expected drilling objectives. The first two dill holes on the Thunderbird trend have excited our geologists and we have decided to focus the majority of remaining holes on this trend.”
Figure 1. Plan map highlighting current Phase III Summer 2022 drill holes at Davidson River.
Figure 1. Plan map highlighting current Phase III Summer 2022 drill holes at Davidson River.
All completed drill holes have confirmed the existence of the conductor targets, intersecting stacked graphitic-sulphidic high-strain zones within basement rocks on the Thunderbird (Figure 2) and Bronco trends. Notably, the first drill hole completed on the Thunderbird trend – DR-22-033A – intersected structurally controlled redox alteration fronts and graphite within semi-brittle structures from 162.1 to 167.5 m (Figure 2A & B), both important ‘pathfinder’ features to uranium mineralisation in the Basin.
Figure 2
Figure 2. A) The first Thunderbird drill hole on the Davidson River project, DR-22-033A, showing strong structurally controlled hematite-limonite alteration (redox fronts); 163.5m. B) Strong “worm-rock” textured hematite-limonite alteration overprinting graphitic shear planes; DR-22-033A; 163.6m.
Sean Hillacre, Vice President of Exploration, commented: “The technical team and I are extremely pleased with how well drilling is going at Davidson River, and we are encouraged by the alteration and structure we’re seeing in our first couple of holes on the Thunderbird trend. The strong redox fronts associated with graphitic structures are a common geological ‘pathfinder’ assemblages observed proximal to uranium mineralization in the Athasbasca Basin. We are excited to follow up drill down-dip and along strike of these altered structures. We look forward to continuing the program and incorporating our new observations into our drill targeting strategy as we continue to progress the summer program.”
Drilling will continue through July and drill core samples will be sent to the Saskatchewan Research Council (“SRC”) Geoanalytical Laboratory in Saskatoon periodically as they are collected throughout the season.
The scientific and technical information contained in this news release, including the sampling, analytical and test data underlying the technical information contained in this news release, has been reviewed, verified, and approved by Sean Hillacre, P.Geo., VP Exploration of the Company and a “qualified person” as defined in NI 43-101.
Update on Brokered Private Placement
The Company is pleased to announce that it has closed the first tranche of the brokered private placement announced by the Company on June 6, 2022 (the “Offering”). Under the first tranche, the Company sold 7,306,900 units (each, a “Unit”) at a price of C$0.11 per Unit and 18,065,846 flow-through units (each, a “FT Unit”, and collectively with the Units, the “Offered Securities”) at a price of C$0.13 per FT Unit for aggregate gross proceeds of C$3,152,318.98. The Offering is being led by Red Cloud Securities Inc. on behalf of a syndicate of agents that includes Canaccord Genuity Corp. (collectively, the “Agents”).
Each Unit consists of one common share of the Company (each a “Unit Share”) and one half of one common share purchase warrant (each whole warrant, a “Warrant”). Each FT Unit consists of one common share of the Company issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (each, a “FT Share”) and one half of one Warrant. Each whole Warrant entitles the holder to purchase one common share of the Company (each, a “Warrant Share”) at a price of C$0.17 at any time on or before June 27, 2024.
The net proceeds raised from the Offering will be used for the exploration of the Company’s Davidson River Project and for working capital purposes. Proceeds from the sale of FT Units will be used to incur “Canadian exploration expenses” as defined in subsection 66.1(6) of the Income Tax Act and “flow through mining expenditures” as defined in subsection 127(9) of the Income Tax Act (“Qualifying Expenditures”). Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2022, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of FT Units.
The second and final tranche of the Offering is scheduled to close in mid-July. Closing of the second tranche of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. All securities issued in the first tranche of the Offering are subject to a statutory hold period until October 28, 2022.
Pursuant to the closing of the first tranche of the Offering, the Agents received total cash commissions of C$189,139.14 and were issued 1,522,364 broker warrants, with each broker warrant entitling the Agent to purchase one Unit at a price of C$0.11 until June 27, 2024.
About Standard Uranium (TSX-V: STND)
We find the fuel to power a clean energy future
Standard Uranium is a mineral resource exploration company based in Vancouver, British Columbia. Since its establishment, Standard Uranium has focused on the identification and development of prospective exploration stage uranium projects in the world-class Athabasca Basin in Saskatchewan, Canada.
Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, comprises 21 mineral claims over 25,886 hectares. Davidson River is highly prospective for basement hosted uranium deposits yet remains relatively untested by drilling despite its location along trend from recent high-grade uranium discoveries. A copy of the NI 43-101 technical report titled “Updated Technical Report on the Davidson River Property, Northwest Saskatchewan, Canada” with an effective date of March 16, 2020, that summarizes the exploration on Davidson River is available for review under Standard Uranium’s SEDAR profile (www.sedar.com).
Standard Uranium's Sun Dog project, in the northwest part of the Athabasca Basin, Saskatchewan, comprises 6 mineral claims over 15,770 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
550 Denman Street, Suite 200
Vancouver, BC V6G 3H1
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. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “forecasts”, “budget”, “schedule”, “potential”, “possible” or variations thereof or stating that certain actions, events, conditions or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements include, but are not limited to, statements regarding: the timing and content of upcoming work programs; geological interpretations; timing of results from the Company’s drill 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 include, among others: general economic conditions in Canada and globally; industry conditions; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in the mining industry; the development of the COVID-19 global pandemic; changes in tax laws and incentive programs relating to the mining industry. This list is not exhaustive of the factors that may affect the Company’s forward-looking statements. There may be other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. See the section entitled “Risk and Uncertainties” in the Company’s management discussion and analysis for the fiscal year ended April 30, 2021, dated August 19, 2021 for additional risk factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, if untrue, could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. 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: 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 Company’s ability to identify, complete and successfully integrate acquisitions; the Company’s ability to operate in a safe, efficient and effective manner; health, safety and environmental risks; 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.
Baselode Intersects 81 Metres and 30 Metres of Radioactive Mineralization Near Surface; New Near-Surface Zone Discovered
https://www.newswire.ca/news-releases/baselode-intersects-81-metres-and-30-metres-of-radioactive-mineralization-near-surface-new-near-surface-zone-discovered-804533773.html
Baselode Energy Corp. Jun 27, 2022, 06:48 ET
AK22-065 intersected a total 81.0 metres of composite mineralization including 1,057 cps over 52.3 m, ranks as the second-best drill hole on the project
AK22-052 intersected 2,677 cps over 30.0 metres beginning 30.0 metres downhole, ranks as best drill hole on the project
Another near-surface zone has been discovered
TORONTO, June 27, 2022 /CNW/ - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to provide an update for the ongoing 20,000 metre diamond drilling program (the "Program") on the ACKIO high-grade uranium discovery ("ACKIO"), Hook project ("Hook"), Athabasca Basin area (the "Basin"), northern Saskatchewan (see Figure 1 and Table 1).
"Four of these reported drill holes now rank amongst the top six in composite radioactivity results, as Baselode continues to expand upon its ACKIO near-surface discoveries. These results demonstrate high levels of radioactivity but also considerable widths of mineralization. Additionally, results from AK22-063 suggest that we've discovered another near-surface zone. The remainder of the drill program will seek to delineate the extent of these near-surface zones as they remain open in all directions. These discoveries are very shallow, with mineralization beginning 25 metres from surface at the overburden contact, similar to the open-pit mines in the Athabasca's history, most notably Rabbit Lake, Cluff Lake, and Uranium City operations," said James Sykes, CEO, President and Director of Baselode.
The Company has prepared a video presentation providing technical details and interpretations of the Program results. The video discusses:
Results and interpretations of the near-surface mineralization just beneath the overburden contact, including a new zone of mineralization defined in hole AK22-063
Hand-held scintillometer results do not reflect what's underground in AK22-065 (i.e., 20% lost core in mineralization)
Ongoing modelling and interpretation of ACKIO as a whole
Results of the drill fences to the southeast and their implications of mineralization
VIEW BASELODE'S WEBINAR "TECHNICAL UPDATE ON THE ACKIO 20,000 METRE DRILL PROGRAM"
Drill hole highlights include;
AK22-052: 2,677 cps over 30.0 m at 30.0 m (best individual continuous radioactivity intersection at ACKIO to date) which includes
4,728 cps over 7.6 m at 31.2 m and a maximum of 12,000 cps over 0.2 m
AK22-065: 81.0 m of composite mineralization comprised of 1,057 cps over 52.3 m at 63.8 m (3rd best individual continuous radioactivity intersection) which includes
2,488 cps over 12.75 m at 84.25 m and a maximum of 15,000 cps over 0.1 m
And 745 cps over 14.75 m at 137.25 m which includes
2,101 cps over 1.55 m at 145.1 m
And 819 cps over 7.1 m at 167.5 m which includes
3,139 cps over 0.9 m at 173.3 m and a maximum of 10,250 cps over 0.15 m
AK22-053: 1,360 cps over 18.6 m at 137.4 m (fifth best individual continuous radioactivity intersection at ACKIO to date) which includes
3,332 cps over 4.15 m at 145.75 m and a maximum of 8,000 cps over 0.1 m
AK22-063: 52.3 m of composite mineralization comprised of 612 cps over 15.1 m at 53.7 m and 720 cps over 12.8 m at 80.85 m
Drill holes AK22-052 and AK22-053 were follow-up drill holes to AK22-051 which was the first drill hole off the drill pad (2,320 cps over 30.1 m at 27.0 m depth, see News Release dated May 31, 2022). Drilling to the north and west of the these drill holes have continued to grow near-surface mineralization in these directions. Drill holes are planned to follow-up the western and southern extents of near-surface mineralization previously identified in drill holes AK22-038 and AK22-041.
Since announcing the start of the Program on February 9, 2022 (see Company News Release), Baselode has completed 61 drill holes (AK22-005 to AK22-065) for 17,935.50 m (see Figure 1). Thirty-three of sixty-one drill holes have intersected continuously elevated radioactivity. A complete list of drill hole collar information and hand-held scintillometer radioactivity composite measurements for the drill holes reported in this news release (AK22-052 to AK22-065) are provided in Table 1.
Samples from these reported fourteen drill holes have been submitted to the Saskatchewan Research Council's Geoanalytical Laboratory in Saskatoon, Saskatchewan, for whole-rock, multi-element and U3O8 analysis. Uranium assay results will be released as they are received after being compiled and thoroughly checked by the technical team.
ACKIO is 30 km southeast of well-established infrastructure, including an all-season road and powerline between Cameco Corp.'s (TSX: CCO) and Orano's McArthur River mine and Key Lake uranium mill joint ventures. ACKIO is 70 km northeast of the Key Lake mill. The Program is helicopter-supported to lessen any ground-induced environmental impacts within the project area.
FIGURE 1 – Plan map of the ACKIO mineralized surface expressions
TABLE 1 – Drill collar details and continuous composite elevated radioactivity results from drill holes AK22-052 to AK22-065
NOTES:
1.
cps* = "counts-per-second", as measured with a handheld RS-125 Gamma-Ray Spectrometer/Scintillometer. The reader is cautioned that Baselode uses scintillometer readings as a preliminary indication for the presence of radioactive materials (uranium, thorium and/or potassium), and that scintillometer results may not be used directly to quantify or qualify uranium concentrations of the rock samples measured.
2.
The Company considers all RS-125 readings greater than 300 cps to be considered elevated radioactivity, with background radioactivity measuring between 50 to 125 cps.
3.
"Continuous elevated radioactivity" means drill core length with no greater than 2.0 m of consecutive drill hole length measuring less than 300 cps.
4.
All reported drill hole depths and lengths do not represent true thicknesses which have yet to be determined.
5.
"best radioactive intersections" are determined by multiplying the average radioactivity with the reported intersection widths for each drill hole that Baselode has reported on to date.
6.
"best drill holes" are determined by the composite sum of each individual drill hole radioactive intersection as per 5.
About Baselode Energy Corp.
Baselode controls 100% of approximately 227,000 hectares for exploration in the Athabasca Basin area, northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.
Baselode's Athabasca 2.0 exploration thesis is focused on discovering near-surface, basement-hosted, high-grade uranium orebodies outside of 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."
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.sedar.com.
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.
SOURCE Baselode Energy Corp.
For further information: Baselode Energy Corp., FIND on the TSXV, info@baselode.com, www.baselode.com; James Sykes, CEO, President and Director, jsykes@oregroup.ca, 306-221-8717
Forum Intersects Uranium Mineralization at the Wollaston Project, Athabasca Basin, Saskatchewan
https://www.newsfilecorp.com/release/129393
Vancouver, British Columbia--(Newsfile Corp. - June 29, 2022) - Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or "the Company") is pleased to announce geochemical results from its winter diamond drill program (8 holes for 2,062 metres) on its 100% owned Wollaston Uranium Project, located 10km southeast of Cameco's Rabbit Lake mill and 30km southeast of Orano/Denison's McClean Lake mill (Figure 1).
HIGHLIGHTS
Anomalous radioactivity in four holes with up to 0.21% uranium and associated nickel in an area of intense alteration, bleaching and secondary hematite at the Gizmo target.
Boron (an indicator of proximal uranium bearing fluids) returned up to 2,200ppm
Nickel, copper and cobalt locally elevated (up to 365ppm, 114ppm and 318ppm respectively) within the alteration zone at Gizmo.
Ken Wheatley, Vice President, Exploration, commented, "We are quite pleased to see the combination of the extreme alteration and elevated geochemistry at the Gizmo gravity target. Drill hole WO-02 has the strongest uranium mineralization and the depth of the alteration is increasing to the south. The EM conductor also lies to the west and north of this fence, so further drilling will investigate these areas. This is a great start for our first drill program on this project that has rapidly become one of our premium projects."
Gizmo Gravity Target
Four out five holes intersected extreme alteration on the Gizmo gravity target, returning anomalous geochemistry indicative of a uranium mineralizing event (Figure 2 and 3). Anomalous uranium and geochemical pathfinder elements are reported below:
WO-01: 11 metres of 1,555ppm boron from 79 to 90 metres depth
WO-02: 10 centimetres of 2,120ppm uranium and 365ppm nickel from 163.45 to 163.55 metres depth
WO-03: 6.5 metres of 94ppm uranium; 287ppm boron from 101.6 to 105.4 metres depth
WO-04: 0.5 metres of 143ppm uranium from 111.5 to 112 metres depth and
5.5 metres of 190ppm uranium from 136.3 to 141.8m depth.
A cross-section of holes WO-01 and 02 is shown in Figure 4.
Further drilling is strongly recommended on the Gizmo target, both to the south because of the increasing alteration, and to the west and north where the historic electromagnetic (EM) conductor lies. An airborne EM survey is planned to cover the entire project this summer to upgrade the historic EM data in detail, accuracy and consistency. Further ground gravity surveys are recommended in areas of conductor complexity identified by the airborne survey.
Figure 1: Location of Forum's Wollaston Uranium Project. The project is located on Highway 905, 10km south of Cameco's Rabbit Lake Uranium Mill and 30km south of Orano/Denison's McClean Lake Uranium Mill (yellow squares). Uranium mineral deposits are outlined in red.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4908/129393_66891e7b54dc580c_003full.jpg
Figure 2: Drill Hole Locations on Gravity Background. The dashed lines are the traces of historical EM conductors. An airborne electromagnetic survey is planned for the entire project area in advance of further drilling.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4908/129393_66891e7b54dc580c_004full.jpg
Figure 3: Uranium mineralization in core returned from WO-2 and WO-4.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4908/129393_66891e7b54dc580c_005full.jpg
Figure 4: Cross-Section WO-01 and 02. Note the large area of alteration at the top of the holes, which is considerably more developed within WO-02. Further drilling is recommended in this direction, as well as to the west on this target.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4908/129393_66891e7b54dc580c_006full.jpg
Quality Assurance/Quality Control
Samples include both systematic chip samples (10 metre intervals) and split core (0.5 metre intervals) that are submitted to SRC Geoanalytical Laboratories (an SSC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon, Saskatchewan for analysis. All samples are analyzed using ICP-MS for trace elements reported as partial and/or total digestion, ICP-OES for major and minor elements reported as total digestion, and fusion solution of boron by ICP-OES reported as total digestion.
Ken Wheatley, 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.
About Forum Energy Metals
Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is a diversified energy metal company with uranium, copper, nickel, and cobalt projects in Saskatchewan, Canada's Number One Rated mining province for exploration and development, a strategic uranium land position in Nunavut and a strategic cobalt land position in the Idaho Cobalt Belt. 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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129393
Pegasus Commences the RadonEX Survey on its Pine Channel Uranium Project, Athabasca Basin, Saskatchewan
https://ca.finance.yahoo.com/news/pegasus-commences-radonex-survey-pine-123000650.html
Pegasus Resource Inc.
Tue, June 28, 2022 at 5:30 a.m.·3 min read
VANCOUVER, British Columbia, June 28, 2022 (GLOBE NEWSWIRE) -- Pegasus Resources Inc. (TSX-V: PEGA: Frankfurt – OQS2, OTC/Pink Sheet symbol: SLTFF) (the “Company” or “Pegasus”) is pleased to announce that it has commenced the RadonEX survey on its Pine Channel Uranium Project (“the Project” or “Pine Channel”), located in the Athabasca Basin region of northern Saskatchewan.
“We are excited to be starting the RadonEX survey on Pine Channel,” stated Chris Timmins, President of Pegasus. “A previous RadonEX survey identified exploration targets on the Patterson Lake trend for Fission Uranium Corporation and Nexgen Energy Ltd., leading to the discovery of additional zones, including the Triple R Zone. We look forward to identifying exploration targets and following up on them up.”
Pegasus continues working with the group that represents the northern communities and First Nations groups, the Ya’ thi Néné Lands and Resources (YNLR) office.
Pine Channel Uranium Property Highlights:
The Project is prospective for unconformity-related uranium mineralization, with a very shallow depth to the basement from surface of about 60 to 100 metres.
Historical work identified two conductive trends on the Project. One trend is approximately 2.5 km long, defined by both airborne and ground electromagnetic (EM) surveys. The second, a 600-metre-long conductor has not yet been followed up with a ground EM survey(s) or drilling; and
Drilling in 1981 identified anomalous uranium in a hematite-rich fracture within Athabasca sandstone rocks, directly above unconformity in hole PC81-2 with 0.15% U3O8 over 0.15m.
The Project with a thin cover of Athabasca Basin, is underlain at shallow depths by the structurally complex Tanto Domain, which is host to numerous U, Cu, Ni and Au occurrences.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Neil McCallum B.Sc., P.Geo. of Dahrouge Geological Consulting, who is a “Qualified Person” as defined in NI 43-101.
About Pegasus Resources Inc.
Pegasus Resources Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on uranium, gold, and base metal properties in North America. The Company is also actively pursuing the right opportunity in other resources to enhance shareholder value. For additional information please visit the Company at www.pegasusresourcesinc.com or contact Charles Desjardins at charles@pegasusresourcesinc.com.
On Behalf of the Board of Directors
Christian Timmins
President and Director
Pegasus Resources Inc.
700 – 838 West Hastings Street
Vancouver, BC V6C 0A6
PH: 1-604-369-8973
E: info@pegasusresourcesinc.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.
Forward Looking Statements
Statements included in this announcement, including statements concerning the Company’s plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
Marvel Defines Drill Targets at DD Zone - Walker and KLR Uranium Project Adjacent to Cameco, Athabasca Basin
https://ca.finance.yahoo.com/news/marvel-defines-drill-targets-dd-131500605.html
Thu, June 23, 2022 at 6:15 a.m.·3 min read
VANCOUVER, BC / ACCESSWIRE / June 23, 2022 / Marvel Discovery Corp. (TSX-V:MARV), (Frankfurt:O4T), (OTCQB:MARVF); ("Marvel" or the "Company") is pleased to announce that after compilation and interpretation of all existing data plus the results of the recently completed the airborne fixed wing magnetic survey, the Company will focus on the DD Zone for upcoming exploration efforts. The DD Zone represents an area of high merit and potential for success within the KLR and Walker Uranium Project ("the Property") in the Athabasca Basin. The study and recommendation for the DD Zone was completed by Exploration Facilitation Unlimited ("EFU").
Highlights of the study prompting Marvel to focus on the DD Zone include:
Drilling during the 1970's intersected U values of 0.125%
Backpack drilling by EFU in 2015 discovered the Highway Zone, intersecting 1.96% U over 29cm. Other highlights include 1.57% U over 4 cm 0.279% U over 44cm, 0.20% U over 60cm, 0.175% U over 41cm, and 0.124% U over 24cm. The Highway Zone Discovery appears structurally related and an extension of the DD Zone.
A distinct correlation with high U values and strong magnetic gradients. (Figure 2)
VTEM conductors proximal to the higher U values but overburden covered have not been investigated or drilled.
The Property is located within the Wollaston-Mudjactic Transition Zone ("WMTZ") of the eastern Athabasca Basin. The WMTZ hosts the highest-grade uranium mines in the world (Figure 1).
The DD Zone further straddles the Key Lake Shear Zone, an important fault for structurally controlled Athabasca Basin type uranium deposits.
Commentary
"The DD Zone represents tremendous upside potential; the project is perfectly situated next to one of the largest Uranium resources in the world being Cameco that has produced some of the highest-grade Uranium. The Walker and KLR claims cover over 14,000 hectares along the Key Lake fault which is home to Canada's largest Uranium reserves. After careful study, compilation, and interpretation, we have narrowed our focus to a manageable area where precision IP has helped define a number of high priority drill targets. All the pieces of the puzzle are falling into place, and we look forward to initiating ground exploration with the anticipation of our inaugural drilling program later in the year." stated Karim Rayani President & Chief Executive Officer, Director.
Marvel Discovery Corp., Thursday, June 23, 2022, Press release picture
Figure 1. Location of the Walker- KLR Uranium Project in the WMTZ Zone host to the highest-grade uranium deposits in the world.
Marvel Discovery Corp., Thursday, June 23, 2022, Press release picture
Figure 2. Magnetic Gradients
The DD Zone
The DD Zone is proximal and along strike to Fission 3.0 Hobo Lake uranium properties. Hosted within WMTZ, the DD Zone lies along the Key Lake Shear Zone and hosts 10 uranium showings and multiple unexplored EM targets (Figure 2).
Marvel Discovery Corp., Thursday, June 23, 2022, Press release picture
Figure 3. Location of the DD Zone, neighbors, VTEM conductors, uranium occurrences along the Key Lake Shear Zone.
Like its neighbour to the west, the Arrow Deposit, owned by NexGen Energy lies along a similar structural corridor as the Marvel properties. The Arrow Deposit1, which has undergone a Positive Feasibility Study with robust economics contains Probable Reserves of 239.6 million lbs of U3O8 at an average of 2.37% U3O8 and Measured and Indicated Resources of 256.7 million lbs at an average grade of 3.1% U3O8. The Arrow Deposit is the largest undeveloped uranium deposit in Canada.
Qualified Person
The technical content of this news release has been reviewed and approved by Mike Kilbourne, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
The QP has not completed sufficient work to verify the historic information on the Properties, particularly regarding historical exploration, neighbouring companies, and government geological work. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
References
Arrow Deposit1 https://www.nexgenenergy.ca/rook-1-project/default.aspx#feasibility-study
About Marvel Discovery Corp.
Marvel, listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company. The Company is systematically exploring its extensive property positions in:
Newfoundland (Slip, Gander North, Gander South, Victoria Lake, Baie Verte, and Hope Brook - Au Prospects)
Atikokan, Ontario (BlackFly - Au Prospect)
Elliot Lake, Ontario (East Bull - Ni-Cu-PGE Prospect)
Quebec (Duhamel -Ni-Cu-Co prospect & Titanium, Vanadium, and Chromium Prospect)
Prince George, British Columbia (Wicheeda North - Rare Earth Elements Prospect)
The Company's website is: https://marveldiscovery.ca/
ON BEHALF OF THE BOARD
Marvel Discovery Corp.
"Karim Rayani"
Karim Rayani
President/Chief Executive Officer, Director
Tel: 604 716 0551 email: k@r7.capital
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things: completion of the proposed Arrangement. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no assurance any of the conditions for closing will be met. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. 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, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Marvel Discovery Corp.
View source version on accesswire.com:
https://www.accesswire.com/706330/Marvel-Defines-Drill-Targets-at-DD-Zone--Walker-and-KLR-Uranium-Project-Adjacent-to-Cameco-Athabasca-Basin
NexGen Announces Submission of the Rook I Project Environmental Impact Statement
https://www.newswire.ca/news-releases/nexgen-announces-submission-of-the-rook-i-project-environmental-impact-statement-800473280.html
NexGen Energy Ltd. Jun 21, 2022, 06:30 ET
VANCOUVER, BC, June 21, 2022 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce a major milestone in the advancement of regulatory approvals for the 100% owned Rook I Project ("Rook I" or the "Project") with the submission of the draft Environmental Impact Statement ("EIS") to the Saskatchewan Ministry of Environment ("ENV") and the Canadian Nuclear Safety Commission ("CNSC"). The EIS submission included letters of support for the Project from each of the Clearwater River Dene Nation (CRDN), Birch Narrows Dene Nation (BNDN), and Buffalo River Dene Nation (BRDN), which all have also endorsed the Project through the execution of Benefit Agreements with NexGen covering the entire lifespan of the Project.
The submission of the draft EIS follows the Provincial and Federal Environmental Assessment (EA) processes that commenced in April 2019 following regulatory acceptance of NexGen's Project Description. The Project, located in the uranium rich district of Saskatchewan's southwestern Athabasca Basin, includes underground and surface facilities to support the mining and processing of uranium ore from the Arrow deposit.
Leigh Curyer, Chief Executive Officer commented: "The submission of the draft EIS is an exciting and significant milestone for NexGen, and we are proud to be working alongside our local Indigenous partners and all our stakeholders as we deliver on this generational opportunity for Saskatchewan and Canada. The draft EIS incorporates best practise in every aspect of the Project's elite environmental performance and is a culmination of many years of detailed data collection, analysis and design. Upon review and approval of the Environmental Assessment, the Rook I Project will deliver enormous economic, social, and community benefits, while being a major supplier of carbon-free base load energy fuel, highlighting Canada's leading environmental commitment to the world.
On behalf of everyone at NexGen, I would like to congratulate and thank all our valued partners with whom we have been working side by side. The communities where we operate, the government of Saskatchewan and Canada and their regulatory bodies, our valued employees, consultants and investors in accomplishing this unique milestone. The NexGen team is dedicated to the optimal delivery of the Rook I Project and ready for the next exciting phase of development."
Luke Moger, Vice President, Environment, Permitting & Licensing commented: "Conducting the biophysical and socio-economic assessments in support of developing the draft EIS highlights the elite environmental and social outcomes of the Rook I Project resulting from NexGen's long-term and disciplined planning approach. Key environmental design features such as the permanent underground storage of all tailings as engineered cemented backfill and the consolidation and optimization of the Project footprint reflect the commitment of the team and the integrated approach taken, including the incorporation of valuable feedback from local Indigenous Groups and communities.
We are excited to share our draft EIS with the experienced Provincial and Federal regulatory teams and welcome the transition to the next stage of the EA process, including the technical and public review that will be led by the Canadian Nuclear Safety Commission and Saskatchewan Ministry of Environment."
Draft EIS
NexGen conducted the EA pursuant to The Environmental Assessment Act of Saskatchewan and the Canadian Environmental Assessment Act, 2012 (collectively the "Acts"). The information and analysis conducted and submitted in the EIS represent the basis against which the environmental, social, and human health effects of the Project will be evaluated by the ENV and CNSC.
Since 2011, NexGen established an experienced team of subject matter experts and qualitied professionals across all aspects of the Project to conduct technical studies; engage with Indigenous Groups, communities, regulators, and public stakeholders; and prepare the EIS. The EIS represents the collection of reports that document NexGen's EA of the proposed Project and demonstrates the robust engagement undertaken over many years, the favorable geological setting of the Arrow deposit, NexGen's focused incorporation of environmental stewardship into the Project designs, and the generational positive long-term economic benefits the Project will provide to local communities, Saskatchewan, and Canada.
The draft EIS fulfills a key aspect of meeting Provincial and Federal requirements so that regulatory authorities can make an informed decision regarding Project approval. Data and analyses on the potential positive and adverse effects from the Project are included, as well as the mitigation measures and monitoring and management programs to be implemented by NexGen. Other important aspects of the EIS include the demonstration of meaningful engagement with affected Indigenous Groups, local communities, and the public, and the incorporation of Indigenous and Local Knowledge into the EA.
Engagement
In 2019, NexGen entered into Study Agreements with each of the Clearwater River Dene Nation ("CRDN"), Birch Narrows Dene Nation ("BNDN"), Buffalo River Dene Nation ("BRDN"), and Métis Nation – Saskatchewan (on behalf of Northern Region 2). NexGen has been working with local Indigenous Groups and communities since 2013, with the Study Agreements formalizing engagement approaches specifically designed to support participation in the EA process and providing capacity funding for engagement and retention of technical support. The Study Agreements also fully funded the completion of self-directed Indigenous Knowledge and Traditional Land Use Studies by each Indigenous Group that were valuable sources of information used by NexGen in conducting the EA.
In addition, NexGen has signed Benefit Agreements with the CRDN, BNDN, and BRDN to ensure provisions for ongoing engagement, financial and human resources to support Indigenous cultural and traditional values as well as environmental stewardship, employment, training, and economic development throughout the entire lifespan of the Project.
EIS Submission and Next Steps
With submission of the draft EIS, the ENV and CNSC have commenced their respective Provincial and Federal reviews. Under the Provincial EA review process, the ENV has commenced their technical review of the EIS. Under the Federal EA review process, the CNSC is currently undergoing a conformance review of the EIS in advance of conducting parallel technical and public review.
Through a cooperative Provincial-Federal EA process, the ENV and CNSC will share information and work to reduce regulatory duplication, while providing a comprehensive EA process in accordance with the separate requirements that apply and must be satisfied with respect to the Acts, regulations, and guidelines in place for each of the respective jurisdictions.
NexGen – Delivering a Generational Project
To support the submission of the draft EIS, NexGen has launched "Delivering a Generational Project" – a 10-minute video on NexGen's team and innovative approach, and the unique characteristics of the Rook I Project. The video can be found by visiting www.nexgenenergy.ca or www.saskatchewanuranium.ca
About NexGen
NexGen is a British Columbia corporation focused on the development of the Rook I Project located in the southwestern Athabasca Basin, Saskatchewan, Canada, into production. The Rook I Project is supported by a NI 43-101 compliant Feasibility Study which outlines elite environmental performance as well as industry leading economics. Rook I hosts the Arrow Deposit that hosts Measured Mineral Resources of 209.6 M lbs of U3O8 contained in 2.18 M tonnes grading 4.35% U3O8, Indicated Mineral Resources of 47.1 M lbs of U3O8 contained in 1.57 M tonnes grading 1.36% U3O8, and Inferred Mineral Resources of 80.7 M lbs of U3O8 contained in 4.40 M tonnes grading 0.83% U3O8.
NexGen has a highly experienced team of uranium industry professionals with a successful track record in the discovery of uranium deposits and in developing projects through discovery to production. The Company is the recipient of the 2018 PDAC Bill Dennis Award for Canadian mineral discovery and the 2019 PDAC Environmental and Social Responsibility Award.
Technical Disclosure
All technical information in this news release has been reviewed and approved by Anthony ( Tony) George , P.Eng., NexGen's Chief Project Officer, a qualified person under National Instrument 43-101.
A technical report in respect of the FS is filed on SEDAR ( www.sedar.com ) and EDGAR (www.sec.gov/edgar.shtml ) and is available for review on NexGen Energy's website (www.nexgenenergy.ca ).
Cautionary Note to U.S. Investors
This news release includes Mineral Reserves and Mineral Resources classification terms that comply with reporting standards in Canada and the Mineral Reserves and the Mineral Resources estimates are made in accordance with NI 43-101. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the Securities and Exchange Commission ("SEC") set by the SEC's rules that are applicable to domestic United States reporting companies. Consequently, Mineral Reserves and Mineral Resources information included in this news release is not comparable to similar information that would generally be disclosed by domestic U.S. reporting companies subject to the reporting and disclosure requirements of the SEC Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.
Forward-Looking Information
The information contained herein contains "forward-looking statements" within the meaning of applicable United States securities laws and regulations and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to mineral reserve and mineral resource estimates, the 2021 Arrow Deposit, Rook I Project and estimates of uranium production, grade and long-term average uranium prices, anticipated effects of completed drill results on the Rook I Project, planned work programs, completion of further site investigations and engineering work to support basic engineering of the project and expected outcomes. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Statements relating to "mineral resources" are deemed to be forward-looking information, as they involve the implied assessment that, based on certain estimates and assumptions, the mineral resources described can be profitably produced in the future.
Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about NexGen's business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including among others, that the mineral reserve and resources estimates and the key assumptions and parameters on which such estimates are based are as set out in this news release and the technical report for the property , the results of planned exploration activities are as anticipated, the price and market supply of uranium, the cost of planned exploration activities, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct NexGen's planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward looking information or making forward looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate in the future.
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of NexGen to differ materially from any projections of results, performances and achievements of NexGen expressed or implied by such forward-looking information or statements, including, among others, the existence of negative operating cash flow and dependence on third party financing, uncertainty of the availability of additional financing, the risk that pending assay results will not confirm previously announced preliminary results, conclusions of economic valuations, the risk that actual results of exploration activities will be different than anticipated, the cost of labour, equipment or materials will increase more than expected, that the future price of uranium will decline or otherwise not rise to an economic level, the appeal of alternate sources of energy to uranium-produced energy, that the Canadian dollar will strengthen against the U.S. dollar, that mineral resources and reserves are not as estimated, that actual costs or actual results of reclamation activities are greater than expected, that changes in project parameters and plans continue to be refined and may result in increased costs, of unexpected variations in mineral resources and reserves, grade or recovery rates or other risks generally associated with mining, unanticipated delays in obtaining governmental, regulatory or First Nations approvals, risks related to First Nations title and consultation, reliance upon key management and other personnel, deficiencies in the Company's title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and licences, risks related to changes in laws, regulations, policy and public perception, as well as those factors or other risks as more fully described in NexGen's Annual Information Form dated February 25, 2022 filed with the securities commissions of all of the provinces of Canada except Quebec and in NexGen's 40-F filed with the United States Securities and Exchange Commission, which are available on SEDAR at www.sedar.com and Edgar at www.sec.gov .
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or statements or implied by forward-looking information or statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned not to place undue reliance on forward-looking information or statements due to the inherent uncertainty thereof.
There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.
SOURCE NexGen Energy Ltd.
For further information: Leigh Curyer, Chief Executive Officer, NexGen Energy Ltd., +1 604 428 4112, lcuryer@nxe-energy.ca; Travis McPherson, Senior Vice, President Corporate Development, NexGen Energy Ltd., +1 604 428 4112, tmcpherson@nxe-energy.ca
FORTUNE BAY ANNOUNCES INITIAL DRILL TARGETS FOR THE MURMAC URANIUM PROJECT
https://ca.finance.yahoo.com/news/fortune-bay-announces-initial-drill-100000149.html
Thu, June 16, 2022 at 3:00 a.m.·5 min read
HALIFAX, NS, June 16, 2022 /CNW/ - Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) ("Fortune Bay" or the "Company") is pleased to announce initial drill targets for its 100% owned Murmac Uranium Project ("Murmac" or the "Project") located in northern Saskatchewan (see Figures 1 and 2).
Highlights:
Nineteen (19) initial drill targets have been identified following completion of airborne electromagnetic ("EM") and ground gravity surveying (Figure 3).
The targets represent favorable geophysical and geological features typically associated with high-grade basement-hosted uranium deposits related to the Athabasca Basin. Targets include discrete gravity lows located along prominent EM conductors proximal to numerous radioactive and uranium surface showings and/or favorable structural features.
Drilling is expected to commence in the coming days with approximately 2,500 meters planned in eight to ten drill holes. The program is expected to be results-driven and may be modified based on results from drilling.
Dale Verran, CEO for Fortune Bay, commented, "We are pleased to announce an initial set of drill targets for Murmac which have the potential to yield a discovery of high-grade, basement-hosted uranium mineralization related to the Athabasca Basin. The maiden drilling program, scheduled to commence shortly, is planned to test an initial eight to ten targets along three prospective corridors. We look forward to reporting drill results for Murmac, in addition to results from the ongoing drilling at the Strike Uranium Project."
Murmac Drill Targeting
Background
The Project is located within the original uranium mining district of Canada, lying between the historical Gunnar and Lorado Uranium Mines. The Project was explored for Beaverlodge-style uranium mineralization predominantly during the period 1960 to 1980. Historical exploration work focused on ground prospecting and sampling, followed by trenching and/or drill testing. Numerous high-grade (> 1% U3O8) uranium occurrences were discovered (see News Release dated September 28, 2021) demonstrating a significant endowment of uranium in the area. The numerous conductive units (graphite-bearing metasediments) were never systematically explored for high-grade, basement-hosted uranium mineralization typical of the Athabasca Basin and its margins. Due to their physical properties, the conductive units predominantly manifest as valleys and topographical lows, covered by overburden and small shallow lakes. These "blind" conductors have therefore not been amenable to historical surface prospecting and warrant drill testing where favorable targets have been identified. The Athabasca Basin margin is located approximately five kilometres to the south of the Project, indicating vertical proximity to the basal unconformity (now eroded) and good preservation potential for basement-hosted mineralization.
Drill Targeting
Targeting at Murmac has encompassed detailed review of historical data which have been integrated with newly acquired datasets, which include a VTEM™ (Versatile Time Domain Electromagnetic) survey completed in April 2022 and a ground gravity survey completed in June 2022. Targeting is currently focused exclusively in areas where gravity survey data have been acquired. The Company plans to carry out additional gravity surveying to continue coverage over the conductive units to the northeast and northwest.
Multiple linear conductor traces spanning the entire length of the project area (approximately 12 kilometres) have been identified from the VTEMTM survey, and three of these conductor packages (named the Pitchvein, Armbruster and Howland Corridors) have been prioritized. Targets along these conductors were selected based on the nature and amplitude of the electromagnetic anomaly, gravity features, topography and surface exposure, magnetic features, structural setting and historical scintillometer survey and geochemical sampling results. Target locations are shown in Figure 3.
The southern portions of the Armbruster and Howland Corridors have been subjected to historical surface prospecting and geophysics, but very little exploratory drilling. Only seven holes have been drilled on the southernmost seven kilometres of each of these two corridors. This area is characterised by more extensive overburden cover where historical surface prospecting efforts would have had limited value.
The Pitchvein Corridor was first explored in the 1950's by Pitchvein Mines, who carried out surface prospecting and diamond core drilling. Exploration continued in the period 1978 to 1982 by SMDC who carried out further ground geophysics and drilling, with assessment reports documenting intersections including 1.01% U3O8 over 2.0 metres (56.0 to 58.0 metres in drill hole CKI-9) and 2.19% U3O8 over 0.5 metres (68.0 to 68.5 metres in drill hole CKI-10) in quartzite horizons within graphitic sediments. All the historical exploration and drill data have been captured by Fortune Bay and have been used to support prioritization of three drill targets on the southern portion of this corridor.
Drilling Program and Operational Details
Drilling of the initial target areas is expected to commence in the coming days following completion of drilling at the Strike Uranium Project. The Company has the required permits for the planned exploration activities.
Qualified Person and Data Quality
The technical and scientific information in this news release has been reviewed and approved by Dale Verran, M.Sc., P.Geo., Chief Executive Officer of the Company, who is a Qualified Person as defined by NI 43-101. Mr. Verran is an employee of Fortune Bay and is not independent of the Company under NI 43-101.
Unless otherwise stated, the historical results (including drill results) contained within this news release have not been verified and there is a risk that any future confirmation work and exploration may produce results that substantially differ from the historical results. The Company considers these results relevant to assess the mineralization and economic potential of the property. The historical drill results obtained by SMDC in drill holes CKI-9 and CKI-10 can be found within the Saskatchewan Mineral Assessment Database (SMAD) references 74N07-0310 and 74N07-0311.
About Fortune Bay
Fortune Bay Corp. (TSXV:FOR, FWB: 5QN) is an exploration and development company with 100% ownership in two advanced gold exploration projects in Canada, Saskatchewan (Goldfields Project) and Mexico, Chiapas (Ixhuatán Project), both with exploration and development potential. The Company is also advancing the 100% owned Strike and Murmac uranium exploration projects, located near the Goldfields Project, which have high-grade potential typical of the Athabasca Basin. The Company has a goal of building a mid-tier exploration and development Company through the advancement of its existing projects and the strategic acquisition of new projects to create a pipeline of growth opportunities. The Company's corporate strategy is driven by a Board and Management team with a proven track record of discovery, project development and value creation.
On behalf of Fortune Bay Corp.
"Dale Verran"
Chief Executive Officer
902-334-1919
Cautionary Statement Regarding Forward-Looking Information
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. Words such as "expects", "aims", "anticipates", "targets", "goals", "projects", "intends", "plans", "believes", "seeks", "estimates", "continues", "may", variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements. Fortune Bay Corp. ("Fortune Bay" or 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 Fortune Bay's control. Such factors include, among other things: risks and uncertainties relating to metal prices, changes in planned work resulting from weather, COVID-19 restrictions, availability of contractors, logistical, technical or other factors, the possibility that results of work will not fulfill expectations and realize the perceived potential of Fortune Bay's mineral properties, uncertainties involved in the interpretation of drilling results and other tests, the possibility that required permits may not be obtained in a timely manner or at all, risk of accidents, equipment breakdowns or other unanticipated difficulties or interruptions, the possibility of cost overruns or unanticipated expenses in work programs, the risk of environmental contamination or damage resulting from the exploration operations, the need to comply with environmental and governmental regulations and the lack of availability of necessary capital, which may not be available to Fortune Bay, acceptable to it or at all. Fortune Bay is subject to the specific risks inherent in the mining business as well as general economic and business conditions. 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, Fortune Bay undertakes no obligation to publicly update or revise forward-looking information. Fortune Bay does not intend, and does not assume any obligation, to update these forward-looking statements, except as required under applicable securities legislation. For more information on Fortune Bay, readers should refer to Fortune Bay's website at www.fortunebaycorp.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Figure 1: Location of the Goldfields, Strike and Murmac Projects relative to the Athabasca Basin. (CNW Group/Fortune Bay Corp.)
Figure 2: Location of the Goldfields, Strike and Murmac Projects. (CNW Group/Fortune Bay Corp.)
Figure 3. Initial drill target for the Murmac Uranium Project. (CNW Group/Fortune Bay Corp.)
(CNW Group/Fortune Bay Corp.)
SOURCE Fortune Bay Corp.
Cision
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2022/16/c8083.html
Ubique Minerals: Uranium Mineralization Discovery in Namibia
Mon, June 13, 2022 at 12:00 p.m.·4 min read
This news release is not for distribution or dissemination in the United States of America
TORONTO, ON / ACCESSWIRE / June 13, 2022 / Ubique Minerals Limited ("Ubique") (CSE:UBQ)
Global Atomic Secures Acceptance of Strategic Uranium Sale Offer
https://www.newswire.ca/news-releases/global-atomic-secures-acceptance-of-strategic-uranium-sale-offer-898348811.html
Global Atomic Corporation Jun 15, 2022, 17:00 ET
TORONTO, June 15, 2022 /CNW/ - Global Atomic Corporation ("Global Atomic" or the "Company") is pleased to advise that it has received a Letter of Intent for the procurement of uranium from a major North American utility. The award follows a comprehensive due diligence process conducted by the utility, and reflects the confidence the fuel buyers have in the Dasa operation.
HIGHLIGHTS
The award defines the supply of 2.1 million pounds U3O8 over a six-year period commencing in 2025, representing approximately 7 percent of Dasa's production over the period.
Pricing is designed with two components to provide a blend of predictability and market exposure. The market component is linked to the uranium spot price index, subject to a floor and ceiling. The floor price ensures that the all-in sustaining costs of the Dasa operation are comfortably covered, and the ceiling allows the Company to benefit from the improving market environment.
This award, with revenue potential valued at over US$110 million in real terms, is consistent with the Company's strategy of establishing sales contracts with Tier 1 global utilities, at volumes sufficient to underwrite debt financing, thereby limiting equity dilution as the Dasa operation moves into production.
The award is subject to the successful conclusion of a purchase-sale contract, which the Company will now progress.
Global Atomic President and CEO, Stephen G. Roman commented, "This is a significant milestone for Global Atomic and the Dasa operation. We are cognizant that contract awards for greenfield uranium projects are not made every day, and this is among the first in this market cycle. It reflects the faith the fuel buyers have in our project and the team, and we look forward to fostering this important relationship over the decades to come. Despite market volatility, the need for low carbon nuclear power remains undiminished, as does the need for secure fuel supply. This news follows the recent LOI ("Letter of Interest") from Export Development Canada for up to $75 million as the cornerstone to our project financing. These recent milestones continue to build the foundations for Global Atomic as a new, emerging Uranium producer."
About Global Atomic
Global Atomic Corporation (www.globalatomiccorp.com) is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production.
The Company's Uranium Division includes four deposits with the flagship project being the large, high-grade Dasa Project, discovered in 2010 by Global Atomic geologists through grassroots field exploration. With the issuance of the Dasa Mining Permit and an Environmental Compliance Certificate by the Republic of Niger, the Dasa Project is fully permitted for commercial production. The Phase 1 Feasibility Study for Dasa was filed in December 2021 and estimates Yellowcake production to commence by the end of 2024. Mine excavation began in Q1 2022.
Global Atomics' Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. ("BST") Joint Venture, which operates a modern zinc production plant, located in Iskenderun, Turkey. The plant recovers zinc from Electric Arc Furnace Dust ("EAFD") to produce a high-grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company's joint venture partner, Befesa Zinc S.A.U. ("Befesa") listed on the Frankfurt exchange under 'BFSA', holds a 51% interest in and is the operator of the BST Joint Venture. Befesa is a market leader in EAFD recycling, with approximately 50% of the European EAFD market and facilities located throughout Europe, Asia and the United States of America.
The information in this release may contain forward-looking information under applicable securities laws. Forward-looking information includes, but is not limited to, statements with respect to completion of any financings; Global Atomics' development potential and timetable of its operations, development and exploration assets; Global Atomics' ability to raise additional funds necessary; the future price of uranium; the estimation of mineral reserves and resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; cost of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental and permitting risks. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "is expected", "estimates", variations of such words and phrases or statements that certain actions, events or results "could", "would", "might", "will be taken", "will begin", "will include", "are expected", "occur" or "be achieved". All information contained in this news release, other than statements of current or historical fact, is forward-looking information. Statements of forward-looking information are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Global Atomic to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Global Atomic and in its public documents filed on SEDAR from time to time.
Forward-looking statements are based on the opinions and estimates of management at the date such statements are made. Although management of Global Atomic has attempted to identify important factors that could cause actual results to be materially different from those forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance upon forward-looking statements. Global Atomic does not undertake to update any forward-looking statements, except in accordance with applicable securities law. Readers should also review the risks and uncertainties sections of Global Atomics' annual and interim MD&As.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this news release.
SOURCE Global Atomic Corporation
For further information: Key contacts: Stephen G. Roman, Chairman, President and CEO, Tel: +1 (416) 368-3949, Email: sgr@globalatomiccorp.com; Bob Tait, VP Investor Relations, Tel: +1 (416) 558-3858, Email: bt@globalatomiccorp.com
Consolidated Uranium Exercises Option to Acquire the Ben Lomond Uranium Project in Queensland, Australia
https://ca.finance.yahoo.com/news/consolidated-uranium-exercises-option-acquire-110000992.html
Consolidated Uranium Inc.
Wed, June 15, 2022 at 4:00 a.m.·3 min read
TORONTO, June 15, 2022 (GLOBE NEWSWIRE) -- Consolidated Uranium Inc. (“CUR”, the “Company”, “Consolidated Uranium”) (TSXV: CUR) (OTCQB: CURUF) is pleased to provide the following updates on the option agreement (the “Option Agreement”) with Mega Uranium Ltd. (“Mega”) (TSX: MGA) that was previously announced on May 14, 2020 and subsequently closed on June 18 2020, providing CUR with the option to acquire a 100% undivided interest in the Ben Lomond and Georgetown uranium projects in Australia.
CUR has provided notice to Mega of its exercise of the option to acquire the Ben Lomond Project, for consideration of $3,035,000, comprised of $2,500,000 for the exercise of the option and an additional $535,000 Mega is entitled to receive under the spot price contingent payment terms of the agreement. The entire amount will be satisfied by the issuance of 1,340,548 Common Shares, at a deemed price of $2.264 per share based on the 5-Day VWAP of the Common Shares up to June 10, 2022, being the second business day prior to the option being exercised. Upon issuance, it is anticipated that the 1,340,548 Common Shares will be held in escrow pending closing of the acquisition. In addition, as a result of the exercise of the option, Mega will be entitled to receive certain future payments contingent upon the attainment of certain milestones tied to the spot price of uranium, as described in the Company’s press release dated May 14, 2020. The exercise also triggers Mega’s right, for a period of 120 days from the exercise of the Ben Lomond option, to sell the Georgetown project to CUR for additional consideration of $500,000, payable in cash or shares which if exercised by Mega, will also entitle it to receive certain future payments contingent upon the attainment of certain milestones tied to the spot price of uranium again as described in the Company’s press release dated May 14, 2020.
Philip Williams, Chairman and CEO commented “We believe that Australia is a highly desirable jurisdiction for owning and advancing uranium projects. Exercising the Ben Lomond option is an important step in expanding our presence in the country.”
Closing of the acquisition remains subject to satisfaction of certain closing conditions customary for a transaction of this nature. All securities issued in connection with the Option Agreement are subject to final approval of the TSXV and will be subject to a hold period expiring four months and one day from the applicable date of issuance.
About Consolidated Uranium
Consolidated Uranium Inc. (TSXV: CUR) (OTCQB: CURUF) was created in early 2020 to capitalize on an anticipated uranium market resurgence using the proven model of diversified project consolidation. To date, the Company has acquired or has the right to acquire uranium projects in Australia, Canada, Argentina, and the United States each with significant past expenditures and attractive characteristics for development. Most recently, the Company completed a transformational strategic acquisition and alliance with Energy Fuels Inc., a leading U.S.-based uranium mining company, and acquired a portfolio of permitted, past-producing conventional uranium and vanadium mines in Utah and Colorado. These mines are currently on stand-by, ready for rapid restart as market conditions permit, positioning CUR as a near-term uranium producer.
For More Information, Please Contact:
Philip Williams
Chairman & CEO
pwilliams@consolidateduranium.com
Twitter: @ConsolidatedUr
www.consolidateduranium.com
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding “Forward-Looking” Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future including, but not limited to, the Company’s ongoing business plan, exploration and work programs. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. Such forward-looking information and statements are based on numerous assumptions, including that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, reliance on key management and other personnel, potential downturns in economic conditions, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, and risks generally associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals and the risk factors with respect to Consolidated Uranium set out in CUR’s annual information form in respect of the year ended December 31, 2020 filed with the Canadian securities regulators and available under CUR’s profile on SEDAR at www.sedar.com.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.
ValOre Drills Near-Surface Radioactive Structures in 4 of 5 RC Holes Over 400 m of Strike Length at J4 West Target, Angilak Property Uranium Project
https://ca.finance.yahoo.com/news/valore-drills-near-surface-radioactive-070500677.html
ValOre Metals Corporation
Wed, June 15, 2022 at 12:05 a.m.·
Labrador Uranium Announces Exploration Update
https://ca.finance.yahoo.com/news/labrador-uranium-announces-exploration-110000456.html
Labrador Uranium Inc.
Tue, June 14, 2022 at 4:00 a.m.·3 min read
TORONTO, June 14, 2022 (GLOBE NEWSWIRE) -- Labrador Uranium Inc. (“LUR” or “Labrador Uranium”) (CSE: LUR, OTCQB: LURAF and F:EI1) is pleased to announce that it has now received major exploration agreements and permits for its 2022 summer exploration program for its Moran Lake and Central Mineral Belt (“CMB”) Properties, where LUR holds 139,000 ha of mineral rights
The following agreements have been entered into to mobilize LUR’s 2022 exploration program:
Camp construction and rental agreement with Innu Cartwright Drilling L.P., an Innu Partnership.
Drilling contract with a minimum of 4,000 metres of diamond drilling with Innu Cartwright Drilling L.P.
Fixed Wing and Helicopter Services agreement with Air Borealis, an Innu Nation/Nunatsiavut/Provincial Airlines Partnership.
Fuel and Fuel Storage contract with Air Borealis and C3 Fuels.
Line Cutting contract with Titjaluk Logistics, a Nunatsiavut Beneficiary owned and operated company.
Additionally, the following key permits have been secured for the CMB properties, including Moran Lake and Mustang Lake:
Construction of a Helicopter Supported Field Camp and Fuel Cache has been received from the Government of Newfoundland and Labrador Department of Industry, Energy and Technology Mineral Lands Division.
Line Cutting, Ground Geophysics and Prospecting from the Government of Newfoundland and Labrador Department of Industry, Energy and Technology Mineral Lands Division.
2022 Work Plan Approval for Diamond Drilling of up to 4,000 metres in the Moran Lake area from the Nunatsiavut Government Department of Lands and Natural Resources, Non-Renewable Resources Division.
2022 Work Plan Approval for Geochemistry, Ground Mag and Gravity, Prospecting, and Line cutting from the Nunatsiavut Government Department of Lands and Natural Resources, Non-Renewable Resources Division.
Stephen Keith, CEO of LUR, commented, “We are very pleased to have these agreements and permits in hand. This 2022 field season will be our inaugural exploration program, designed to confirm the historical mineral resources on the Moran Lake property, to validate results of our Machine Learning program, and to prospect new targets on our CMB properties. Additionally, we are happy to be able to work with local service providers to provide net benefits to the local communities, and stakeholders. We look forward to releasing our detailed exploration program in due course and commencing construction of our camp by next month.”
About Labrador Uranium Inc.
Labrador Uranium is engaged in the exploration and development of uranium projects in Labrador, Canada. LUR has acquired the Moran Lake, Mustang Lake Joint Venture, and CMB Projects covering over 139,000 ha in the prolific Central Mineral Belt (CMB) in central Labrador and the Notakwanon Project in northern Labrador. The Moran Lake Project, which hosts historical uranium mineral resources, and both Mustang Lake and the CMB Projects, located adjacent to Paladin Energy’s Michelin uranium deposit, have had substantial past exploration work completed with numerous occurrences of uranium, copper and IOCG style mineralization. These three projects are expected to be the focus of a concentrated exploration program in 2022.
For More Information, Please Contact
Stephen Keith
CEO
skeith@labradoruranium.com
Investor Relations
info@labradoruranium.com
Twitter: @LabradorUr
www.labradoruranium.com
Cautionary Statement Regarding “Forward-Looking” Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements with respect planned exploration activities and other activities, events or developments that are expected, anticipated or may occur in the future. Generally, but not always, forward looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.
Forward-looking information and statements are based on our current expectations, beliefs, assumptions, estimates and forecasts about LUR’s business and the industry and markets in which it operates. Such forward information and statements are based on numerous assumptions, including among others, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by LUR in providing forward looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of Labrador Uranium to differ materially from any projections of results, performances and achievements of Labrador Uranium expressed or implied by such forward-looking information or statements, including, among others: limited operating history, negative operating cash flow and dependence on third party financing, uncertainty of additional financing, delays or failure to obtain required permits and regulatory approvals, no known mineral resources/reserves, aboriginal title and consultation issues, reliance on key management and other personnel; potential downturns in economic conditions; availability of third party contractors; availability of equipment and supplies; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; changes in laws and regulation, competition, and uninsurable risks, community relations, delays in obtaining governmental or other approvals and the risk factors with respect to Labrador Uranium set out in LUR’s listing statement dated March 2, 2022 filed with the Canadian securities regulators and available under LUR’s profile on SEDAR at www.sedar.com.
Although LUR has attempted to identify important factors that could cause actual actions, events or results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. LUR undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.
Fission 3.0 and Traction Drilling Intersects Additional Anomalous Radioactivity at Lazy Edward Bay
https://www.newsfilecorp.com/release/127631
Kelowna, British Columbia--(Newsfile Corp. - June 14, 2022) - Fission 3.0 Corp. (TSXV: FUU) (OTCQB: FISOF) ("Fission 3") and Traction Uranium Corp. ("Traction") are pleased to provide an update of the drilling at the Lazy Edward Bay project in the SE Athabasca Basin region which commenced on May 17, 2022. Drilling on the Horse West conductor has encountered anomalous radioactivity in drill hole LEB22-007 in proximity to an 11.7m-wide basement fault with intense clay and chlorite alteration ~10m further down hole. Drilling is currently targeting this significant structure up dip at the unconformity.
Drilling continues to encounter favourable structure, alteration and anomalous radioactivity in the vicinity of historic hole LE-73 on the West Horse conductor following the May 31, 2022 announcement of hole LEB22-004 having encountered anomalous radioactivity near the sandstone-basement unconformity at 164.6 m associated with a reverse fault. Elevated levels of radiation is a possible indicator of uranium mineralization which will be confirmed when the assays are received.
Hole LEB22-008 is in progress to test an 11.7m-wide extremely clay and chlorite altered basement structure along with proximal anomalous radioactivity intersected in hole LEB22-007 up-dip where it intersects the unconformity which is the 6th hole in the immediate vicinity of historic hole LE-73 along the western Horse Conductor. Hole LEB-007 targeted the same structure ~50m along strike to the north. It encountered elevated radioactivity in the lower sandstone of 380cps on the handheld spectrometer at 169.75m, corresponding on the downhole gamma probe with increased radioactivity >500 cps from 168.5 m to 169.5 m with a maximum of 1177 counts as well as from 171 m to 171.5 m with a maximum of 1063 cps. The unconformity was intersected at 173m and the large fault zone was intersected from 178.4 m and continued to 190.1m. Additional drill targets have been defined along the Western Horse Corridor from a re-interpretation of an airborne VTEM survey and which will be added to the program. The original target for the current drill program of 8 holes for 2000m has been increased to ~10 holes for 3000m because the team has been able to implement cost saving measures.
The ongoing work program is being funded by Traction in accordance with the terms of the Option Agreement between Fission 3 and Traction, whereby Traction can acquire up to a 70% interest in the Lazy Edward Bay property (see Dec 10, 2021 Fission 3 news release).
Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using a handheld Radiation Solutions RS-125 scintillometer. Natural gamma radiation in the drill hole surveys that are reported in this news release was measured in counts per second (cps) using a Mount Sopris Instruments QL40-GRA borehole gamma probe. 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 of the presence of radioactive materials. All intersections are down-hole. All depths reported of core interval measurements of radioactivity are not always representative of true thickness.
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 Raymond Ashley, P.Geo., Vice President, Exploration of Fission 3.0 Corp., a Qualified Person.
About Fission 3.0 Corp.
Fission 3 is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of world's largest high grade uranium discoveries. Fission 3 currently has 16 projects in the Athabasca Basin. Several of Fission 3's projects are near large uranium discoveries, including, Arrow, Triple R and Hurricane deposits. Fission 3 is currently planning a winter exploration/drill program on its PLN project.
https://twitter.com/Fission3Corp
About Traction Uranium Corp
Traction Uranium (CSE: TRAC) (OTC: TRCTF) (FSE: Z1K) is in the business of mineral exploration and the development of discovery prospects in Canada, including its two flagship uranium projects in the world-renowned Athabasca Region.
We invite you to find out more about our exploration-stage activities across Canada's Western region at www.tractionuranium.com.
Forward Looking Statements
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 suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are "forward-looking statements." 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 as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.
Fission 3.0 Corp. Contact Information
Investor Relations
Telephone: 778 484 8030
Email: ir@fission3corp.com
Traction Contact Information
Lester Esteban
Director and CEO
Telephone: 604 561 2687
Email: info@tractionuranium.com
ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO
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 Fission 3.0 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 Fission 3 Corp. disclaim 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.
Skyharbour Resources Commences Airborne Gravity Geophysical Survey at South Falcon Point Uranium Project, Saskatchewan
https://ca.finance.yahoo.com/news/skyharbour-resources-commences-airborne-gravity-120000780.html
Skyharbour Resources Ltd
Mon, June 13, 2022 at 5:00 a.m.·11 min read
Vancouver, BC, June 13, 2022 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd.’s (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”) is pleased to announce that it has commenced an airborne gravity geophysical survey (the “Survey”) at its 44,470 hectare South Falcon Point Uranium Property (the “Property”) located just outside the Athabasca Basin 48 kilometres east of the Key Lake Mill. The 100% owned South Falcon Point Property is host to a near-surface NI 43-101 inferred resource totalling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%.
South Falcon Point Project Location Map:
https://www.skyharbourltd.com/_resources/maps/Sky_FalconSouth20211209.jpg
The Survey consists of a Falcon® Plus airborne gravity gradiometer and magnetics survey by Xcalibur Multiphysics of Mississauga, ON. Falcon® is the world’s only purpose-built AGG, and was designed to isolate aircraft motion noise. It is recognized as being the lowest noise Airborne Gravity Gradiometer system available and has been under continual development for over 20 years with the upgraded Falcon® Plus system having 30 times better resolution (100 m vs. 1000 m) and up to 10 times higher accuracy (0.1 mGal vs. 1.0 mGal) than conventional airborne gravity. Gravity surveying has been successfully used to define drill targets and discover uranium in the Athabasca Basin and the surrounding area for over 40 years. The survey is to cover the entirety of the South Falcon Point Property at a vertical height of 80 m and a line spacing of 200 m for a total of 2,843 line km. The survey is estimated to be completed by late June.
South Falcon Point Project Geophysics Map:
http://www.skyharbourltd.com/_resources/images/SYH-nr-202206-img1.png
Previous drilling on the Property has identified uranium and thorium mineralization in several areas, including at the Fraser Lakes Zone B U-Th-REE deposit. These mineralized zones are associated with several EM conductors including a prominent 65 km long conductor associated with Fraser Lakes Zone B. The current gravity survey will further investigate this major EM conductive system and other pre-defined structures and conductors on the property for their uranium potential. The most prospective targets for uranium exploration are those coincident with EM conductors and gravity lows associated with hydrothermal alteration systems and/or uranium mineralization.
The Company has also engaged the services of Earthfield Technology LLC of Richmond, Texas to complete additional interpretation work upon completion of the gravity survey. Earthfield will integrate the gravity survey results with all the VTEM, HLEM, magnetics, radiometrics, and drilling results collected on the property since 2005 by Skyharbour and the previous operator of the project, JNR Resources Ltd. This work will utilize proprietary software to further define zones of increased uranium potential by mapping basement structural features in detail, determining basement lithologies and identifying prospective hydrothermal fracture and alteration zones to generate and refine drill targets.
South Falcon Point Project History and the Fraser Lakes Zone B Uranium/Thorium Deposit:
Historical exploration at South Falcon Point identified an area of U-Th-REE mineralization at the Fraser Lakes Zone B over an area comprising 1.5 km by 0.5 km along an antiformal fold nose cut by an east-west dextral ductile-brittle cross-structure adjacent to a 65 km long EM conductor. The near-surface Fraser Lakes Zone B deposit consists of a current NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023% within 10,354,926 tonnes using a cutoff grade of 0.01% U3O8. The independent NI 43-101 technical report by GeoVector Management Inc. supporting this mineral resource estimate was filed on SEDAR on March 20, 2015 by Skyharbour. Independent qualified person, Dr. Allan Armitage, P.Geo., is responsible for the contents of the technical report and comments related to the resource estimate and its parameters.
The deposit outcrops on surface and was previously defined to 150 metres vertical depth prior to the most recent drill program in 2015, which intersected uranium mineralization at up to 250 m depth along a 500 m strike length. It remains open along strike and at depth and consists of several moderately dipping, stacked uranium and thorium mineralized horizons associated with pegmatites intruding the sheared contact between Archean granite and the overlying Wollaston Supergroup pelitic and graphitic pelitic gneisses. The mineralization is also accompanied by anomalous levels of pathfinder elements such as copper, nickel, vanadium and lead, and shows variable amounts of alteration and structural disruption.
Skyharbour last completed a drill program on the South Falcon Property in 2015, when drilling at depth below the previously defined Fraser Lakes Zone B deposit encountered higher grade uranium mineralization proximal to the previously defined lower grade mineralized envelope. In particular, drill hole FP-15-05 returned one of the best intersections to date at the Property, consisting of 0.172% U3O8 and 0.112% ThO2 over 2.5 metres before being terminated in mineralization due to technical difficulties with the drill. Two additional drill holes in 2015 were drilled in a previously untested portion of the fold nose hosting the Fraser Lakes Zone B deposit with both holes being structurally disrupted and altered, geochemically anomalous, and containing well defined graphitic lithologies. Hole FP-15-01 also intersected lower grade uranium mineralization enriched in thorium further establishing the eastern limb of the fold nose as a priority target for future consideration.
South Falcon Point 2015 Drill Program Map:
http://skyharbourltd.com/_resources/maps/SY_Falcon_Point_Winter_Drill_Map.jpg
The results from the 2015 drilling program were very encouraging and confirmed the presence of widespread mineralization, alteration, structural disruption and radioactivity at Fraser Lakes Zone B typically associated with high grade uranium deposits in the Athabasca Basin, such as Eagle Point, Millennium, P-Patch, and Roughrider. In addition, previous work done by JNR identified several other areas of mineralization on the project, including at the EWA, Walker, and Fraser Lakes Zone A targets. The gravity survey will build upon this previous work and will be used to generate drill targets for a future drill program at the Property. The discovery and exploration upside potential at South Falcon Point is robust and additional drilling is recommended in the vicinity of the currently defined Fraser Lakes Zone B deposit, in addition to new targets derived from this geophysical survey.
South Falcon Point Uranium Project Overview:
Uranium and thorium mineralization discovered to date at South Falcon Point is shallow and consists of basement hosted, pegmatite-hosted and classic Athabasca- style unconformity-related mineralization associated with well-developed EM conductors which include EWA, Walker and Fraser Lakes zones. Historical drilling on the combined South Falcon Point Project and adjacent Hook Lake Project (currently optioned to Valor Resources Ltd.) totals over 22,000 metres in more than 110 holes. Over $15 million has been invested in exploration on these two projects consisting of airborne and ground geophysics, multi-phased diamond drill campaigns, detailed geochemical sampling and surveys, and ground-based prospecting culminating in an extensive geological database for the area. The project area is in close proximity to two all-weather northern highways and grid power runs through the southern portion of the South Falcon Point Property.
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 and approved by David Billard, P.Geo., a Consulting Geologist for Skyharbour as well as a Qualified Person.
About Skyharbour Resources Ltd.:
Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with fifteen projects, ten of which are drill-ready, covering over 450,000 hectares of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Uranium Project is Skyharbour’s recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade drill intercepts over a large property area with robust exploration upside potential. Furthermore, the Company owns a 100% interest in the South Falcon Point Uranium Project on the eastern perimeter of the Basin, which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. Skyharbour is actively advancing these projects through exploration and drill programs.
Skyharbour has a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project. Skyharbour also has a joint venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit.
Skyharbour has several active option partners including: ASX-listed Valor Resources on the Hook Lake Uranium Project whereby Valor can earn-in 80% of the project through CAD $3,500,000 in exploration expenditures, $475,000 in cash payments over three years and an initial share issuance; CSE-listed Basin Uranium Corp. on the Mann Lake Uranium Project whereby Basin Uranium can earn-in 75% of the project through $4,000,000 in exploration expenditures, $850,000 in cash payments as well as share issuances over three years; and CSE-listed Medaro Mining Corp. on the Yurchison Project whereby Medaro can earn-in an initial 70% of the project through $5,000,000 in exploration expenditures, $800,000 in cash payments as well as share issuances over three years followed by the option to acquire the remaining 30% of the project through a payment of $7,500,000 in cash and $7,500,000 worth of shares.
Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://www.skyharbourltd.com/_resources/images/SKY-SaskProject-Locator-20220324.jpg
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.
SKYHARBOUR RESOURCES LTD.
“Jordan Trimble”
Jordan Trimble
President and CEO
For further information contact myself or:
Riley Trimble
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
The securities offered 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 U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including the Private Placement. Although management 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 the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
Pegasus Commences Permitting at Chord Project in South Dakota
https://ca.finance.yahoo.com/news/pegasus-commences-permitting-chord-project-123000541.html
Pegasus Resource Inc.
Thu, June 9, 2022 at 5:30 a.m.·4 min read
VANCOUVER, British Columbia, June 09, 2022 (GLOBE NEWSWIRE) -- Pegasus Resources Inc. (TSX-V: PEGA: Frankfurt – OQS2, OTC/Pink Sheet symbol: SLTFF
Ucore Comments on Uranium and Recent External Interest in Ucore's Ross-Adams Uranium Mine Property
https://www.newsfilecorp.com/release/126852
Halifax, Nova Scotia--(Newsfile Corp. - June 8, 2022) - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF
Uranium Energy Corp Receives $18 Million and 25 Wyoming ISR Projects Related to the Uranium One Acquisition, and Applauds the Biden Administration for its Proposed Plan to Transition Away from Russian Nuclear Fuel Supply
https://www.newswire.ca/news-releases/uranium-energy-corp-receives-18-million-and-25-wyoming-isr-projects-related-to-the-uranium-one-acquisition-and-applauds-the-biden-administration-for-its-proposed-plan-to-transition-away-from-russian-nuclear-fuel-supply-836292686.html
Uranium Energy Corp Jun 08, 2022, 07:00 ET
NYSE American Symbol – UEC
Myriad Metals Announces Proposed Transaction for Uranium Project in the Tim Mersoi Basin in Niger
https://www.newsfilecorp.com/release/127279
Vancouver, British Columbia--(Newsfile Corp. - June 10, 2022) - Myriad Metals Corp. (CSE: MMC) ("Myriad" or the "Company") is pleased to announce that it has signed a binding letter of intent ("LOI") with Loxcroft Resources Ltd. ("Loxcroft") which, subject to due diligence, would give Myriad an option (the "Option") to earn a 100% interest in 1,822 km2 of uranium exploration licenses in the Tim Mersoi Basin, Niger (the "Loxcroft Properties").
The due diligence period expires July 5, 2022, and the parties are expected to enter a further definitive agreement (the "Agreement") respecting the Option, under substantially the same terms, on or before that date.
The Loxcroft Properties
According to the World Nuclear Association, Niger is currently the world's 6th largest uranium producer, with the vast majority of uranium occurrences being in the Tim Mersoi Basin. The Loxcroft Properties are right in the heart of the Tim Mersoi Basin, and comprise four mineral exploration licenses - individually named Agebout, Afouday, Tagait 2 and Tagait 3 (as indicated on the map below).
The area is well known for uranium exploration and production, with multiple world class uranium projects, including the Orano Group's Imouraren project, one of the world's largest uranium deposits and which is immediately adjacent to Agebout, as well as China National Nuclear Corporation's Azelik project, Global Atomic's Dasa project, and Goviex Uranium's Madaouela project, which are all within 50km of the Loxcroft Properties.
Map of the Loxcroft Properties
To view an enhanced version of this map, please visit:
https://orders.newsfilecorp.com/files/6301/127279_58a1bb8e94f2cbdd_001full.jpg
*Note: Readers are cautioned that Myriad does not have sufficient reliable technical data to draw any clear conclusions for the prospects for the Loxcroft Properties, and mere proximity to other advanced projects does not ensure similar results for the Loxcroft Properties.
Peter Smith, Myriad's CEO, commented, "We are thrilled with this potential acquisition, right in the heart of one of the world's most prolific uranium-rich region, and we could not ask for a better potential exploration and equity partner in Loxcroft, who have access to exploration teams in the Tim Mersoi Basin, as well as the local knowledge and relationships to advance this type of project efficiently."
The Transaction
Under the LOI and subsequent Agreement, Myriad has the option to acquire an initial 80% interest in the Loxcroft Properties by: (1) issuing 8,500,000 Myriad common shares (each, a "Share") to Loxcroft on the date of execution (the "Effective Date") of the Agreement; and (2) conducting no less than $2,000,000 in exploration expenditures within two years of the Effective Date, including no less than $1,500,000 in drilling expenditures. On successfully earning an 80% interest in the Loxcroft Properties, Myriad will have the option to acquire the remaining 20% interest in the Loxcroft Properties by making a cash payment of $6,000,000 to Loxcroft on or before the sixth anniversary of the Effective Date. Myriad will be responsible for all of the funding for the Loxcroft Properties until the completion of a definitive feasibility study on the Loxcroft Properties. On execution of the Agreement, Loxcroft will be entitled to representation on Myriad's board of directors.
In addition, Myriad will be obliged to pay performance bonuses to Loxcroft on the attainment of certain milestones respecting the Loxcroft Properties: (1) $1,000,000 in cash or Shares on completion of a technical report establishing a minimum resource of more than 10,000,000 pounds of uranium having a minimum average grade of no less than 0.025%; (2) an additional $2,000,000 in cash or Shares on completion of a technical report which establishes a minimum resource of more than 50,000,000 pounds of uranium having a minimum average grade of no less than 0.025%; (3) an additional $1,000,000 in cash or Shares on completion of a Preliminary Economic Assessment; and (4) an additional $1,000,000 in cash or Shares on the issuance of a mining permit for the Loxcroft Properties by applicable governmental authorities. Loxcroft will also be entitled to receive a 1% net smelter returns royalty on any minerals extracted from the Loxcroft Properties.
Under the LOI, Myriad paid Loxcroft a non-refundable deposit of $30,000 in exchange for an exclusive due diligence period respecting the Loxcroft Properties. To date, Myriad has conducted extensive due diligence respecting the Loxcroft Properties and the jurisdiction, including a visit to Niger by Myriad's CEO, Peter Smith. During his time in Niger, Mr. Smith met with the vendors, government officials from the Niger Ministry of Mines, and several prospective exploration contractors. Myriad is satisfied with its due diligence investigations to date, although due diligence remains ongoing.
Any Shares issued under the Agreement will be subject to a four month hold period under applicable securities laws. In addition, the 8,500,000 Shares to be issued on the Effective Date will be subject to a contractual three-year escrow period as follows: 10% of the Shares shall be released on the Effective Date; and 15% of the Shares shall be released on the dates which are 6, 12, 18, 24, 30 and 36 months following the Effective Date.
Myriad has agreed to pay a 5% finder's fee to arm's length finders. The finder's fee may be payable in whole or in part in Shares.
The proposed transaction is subject to several conditions, including completion of due diligence, execution of the Agreement, and receipt of all necessary regulatory approvals, including approval of the CSE (if applicable). The proposed transaction is an arms-length transaction for the Company 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. Readers are cautioned that Myriad may opt, based on their ongoing due diligence, not to execute the Agreement. Under the LOI, Myriad and Loxcroft have agreed to proceed diligently and in good faith to negotiate and settle the terms of the Agreement, which are to be substantially the same as indicated in the LOI.
Myriad will provide an update respecting the proposed transaction in due course.
About Myriad
Myriad is a Vancouver-based mineral exploration company with a 50% interest in the Millen Mountain Property located in Nova Scotia, Canada, with the other 50% held by Probe Metals Inc. For further information, please refer to the Company's disclosure record on SEDAR (www.sedar.com) or contact the Company by telephone at 778.999.7030.
ON BEHALF OF THE BOARD OF DIRECTORS
Peter Smith, CEO
778.999.7030
###
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. 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.
Strathmore Acquires Former Producing Uranium Mine in Wyoming
https://www.newsfilecorp.com/release/126069
Kelowna, British Columbia--(Newsfile Corp. - June 1, 2022) - Strathmore Plus Energy Corporation (TSXV: SUU.H) (OTC: SUUFF) ("Strathmore Plus" or "the Company") is pleased to announce that it has acquired by staking the Night Owl claims in the Shirley Basin uranium district of Wyoming. Night Owl was formerly mined by Night Owl Properties & Battle Axe Mining Co. producing 93 tons at a grade of 0.24% U3O8, which was mined at or near surface in the late 1950s to early 1960s. Production at Night Owl ceased due to low uranium prices ($7), not for lack of resource. Wyoming Uranium LLC, to be acquired by the Company, has strategically staked the core of the Night Owl production and the surrounding areas. The Night Owl area has not been properly explored using modern exploration techniques. Production began without drilling along outcrop exposures in the mid 1950s.
Night Owl was originally discovered by aerial surveys using an aircraft-mounted scintillometer followed by surface radiometric surveys and sampling since the mineralization is at or near the surface (like how most Wyoming basins were originally discovered). The mineralization is located/contained within a brecciated zone lying beneath the unconformable contact that separates the much younger Shirley Basin sediments from the Mississippian Madison Formation (limestone) and the overlying Pennsylvanian-Permian Casper Formation (sandstone). The 7- to 10-foot-thick zone of breccia consists of voids filled with silicious materials containing complex uranium minerals, including uranyl phosphates. Historical documents suggest uranium mineralization upward of 1.0% U3O8. Additionally, elevated concentrations of molybdenum, nickel, vanadium, and phosphorous were noted in the historical analysis reports of the Night Owl mineralization.
Battle Axe Mining produced uranium under contract with the Atomic Energy Commission (now the Department of Energy). The Shirley Basin historically produced more than fifty-one million pounds of uranium from the 1960s through the 1990s. Strathmore Plus's co- founder and technical advisor, John DeJoia, during his tenure at Utah international, oversaw the production of close to 20 million pounds of uranium in the Shirley Basin. The Night Owl project is located in Albany/Carbon Counties, Wyoming, approximately 40 miles southeast of Casper, Wyoming. Other companies in the Shirley Basin area include Cameco, enCore, UEC, and Ur Energy.
Mr. DeJoia stated, "Our latest land acquisition is just a few miles from the heart of the Shirley Basin Uranium Mining District. We at Strathmore Plus have stepped outside the standard - roll front model. Although the model was the basis for our search, history played an even bigger role. We staked a property I had visited in the early 1970s and have been intrigued with it ever since. We learned from the historical records that slightly under a hundred tons of uranium mineralization had been produced here, although we knew little of the area's geology. Upon staking, our Vice President and Chief Geologist, Mr. Terrence Osier, confirmed the mineralization was mined at or near the surface. Further reconnaissance by Mr. Osier, also confirmed promising geologic conditions in a zone of brecciated material exposed at the surface which underlies the area at shallow depths. We look forward to surface exploration and shallow drilling to substantiate our theories as to the source of the uranium mineralization and it's potential for future mining."
The Company intends to explore the project utilizing radiometric ground surveys in conjunction with soil sampling and analyses, followed by trenching and exploratory drilling based upon the results of the initial field activities.
About Strathmore Plus Energy Corp.
Strathmore Plus is a uranium exploration company, focused on in-situ recoverable uranium deposits in the State of Wyoming.
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 Strathmore Plus Energy 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 Energy Corp. disclaim 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.
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 Energy Corp., a Qualified Person.
Strathmore Plus Energy Corp.
Contact Information:
Investor Relations
Telephone: 1 888 882 8177
Email: info@strathmoreplus.com
ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO
Western Uranium & Vanadium Completes Final Delivery on 2015 Supply Agreement
https://ca.finance.yahoo.com/news/western-uranium-vanadium-completes-final-134100457.html
Western Uranium & Vanadium Corp.
Tue, May 31, 2022 at 6:41 a.m.·3 min read
Toronto, Ontario and Nucla, Colorado, May 31, 2022 (GLOBE NEWSWIRE) -- Western Uranium & Vanadium Corp. (CSE:WUC) (OTCQX:WSTRF) (“Western” or ”Company”) is pleased to announce that it satisfied the obligations of its Uranium Concentrates Supply Agreement. The agreement was signed in 2015 with a major U.S. utility which provided for five delivery years from 2018 to 2022. For Delivery Year 2022 the final delivery was made in April 2022 and payment was received in May 2022. Western sold 125,000 pounds of uranium yellowcake (U3O8) at a price of $57.04 per pound generating gross revenues of $7.13 million. The U3O8 sold was sourced from the uranium inventory that Western announced acquiring in its Strategic Acquisition of Physical Uranium news release in June 2021. This U3O8 was acquired at a price of $32.16 per pound or a gross acquisition cost of $4.02 million. A gross profit of $3.11 million will be recognized for the second quarter uranium yellowcake sale.
During 2022, Western has also benefited from a series of value-added transactions. In January, a non-brokered private placement closed yielding gross proceeds of $3.0 million. In March and April, investor warrant exercises produced gross proceeds of $2.3 million. For January to May, Western received five oil and gas royalty checks totalling $393,000. Due to the success of the first 8 wells and oil prices in excess of $100 per barrel, the operator has decided to develop a second set of 8 wells during 2022. The drilling phase was completed during May 2022.
The Company is in the best financial position in its history having generated approximately $12.8 million in positive cash flows during the first five months of 2022.
Western’s robust balance sheet increasingly positions the Company to scale-up uranium/vanadium ore production on short notice. Russia currently has a dominant market position in multiple phases of the nuclear fuel cycle. However, due to Russia’s invasion of the Ukraine, the Company anticipates a realignment of uranium and nuclear fuel markets with the majority of the world transitioning away from dependency upon Russian state-owned enterprises.
About Western Uranium & Vanadium Corp.
Western Uranium&Vanadium Corp. is a Colorado-based uranium and vanadium conventional mining company focused on low cost near-term production of uranium and vanadium in the western United States, and development and application of kinetic separation.
Cautionary Note Regarding Forward-Looking Information: Certain information contained in this news release constitutes “forward-looking information” or a “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking statements”). Statements of that nature include statements relating to, or that are dependent upon: the Company’s expectations, estimates, assumptions and projections regarding exploration and production plans and results; the timing of planned activities; whether the Company can raise any additional funds required to implement its plans; whether regulatory or analogous requirements can be satisfied to permit planned activities; and more generally to the Company’s business, and the economic and political environment applicable to its operations, assets and plans. All such forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond the Company’s ability to control or predict. Please refer to the Company’s most recent Management’s Discussion and Analysis, as well as its other filings at www.sec.gov and/or www.sedar.com, for a more detailed review of those risk factors. Readers are cautioned not to place undue reliance on the Company’s forward-looking statements, and that these statements are made as of the date hereof. While the Company may do so, it does not undertake any obligation to update these forward-looking statements at any particular time, except as and to the extent required under applicable laws and regulations.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
George Glasier
President and CEO
970-864-2125
gglasier@western-uranium.com
Robert Klein
Chief Financial Officer
908-872-7686
rklein@western-uranium.com
Skyharbour/Basin Uranium Announce Completion of Phase One Drilling at Mann Lake Uranium Project
https://ca.finance.yahoo.com/news/skyharbour-partner-company-basin-uranium-123000089.html
Skyharbour Resources Ltd
Tue, May 31, 2022 at 5:30 a.m.·9 min read
Vancouver, BC, May 31, 2022 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd.’s (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”) partner company, Basin Uranium Corp. (“Basin Uranium”) is pleased to announce it has completed its phase one 2022 drill program at its Mann Lake project located 25 km southwest of the McArthur River Mine and 15 km to the northeast along strike of Cameco’s Millennium uranium deposit. The phase one program consisted of five holes totalling 3,503 metres with the unconformity being intersected between 608 metres to 651 metres in all holes. This was the first significant drill program undertaken on the property since 2007.
The second phase of drilling is planned for the fall of this year and will consist of approximately 3,500 metres. Results from both the phase one drill program and upcoming geophysical surveys at Mann Lake will be used for targeting and follow-up in the second phase. The geophysical program, consisting of gravity and airborne mobile magnetotellurics (mobile MT) surveying, is anticipated to commence in early June.
Mann Lake Uranium Project
https://www.skyharbourltd.com/_resources/maps/SKY_MannLake_20211129.jpg
Phase One Highlights:
3,503 metres of diamond drilling completed in five vertical holes
Holes MN22002, MN22003 and MN22004 all intersected uranium dominant, anomalous radioactive intervals in the basement rocks
Core samples from all holes have been submitted to the Saskatchewan Research Council (SRC) Geoanalytical laboratories in Saskatoon, Saskatchewan
Geophysical surveying (mobile MT and gravity) to begin in June
"Our phase one drill program successfully intersected uranium mineralization over one kilometre south of any previous historical drilling at Mann Lake. Our drilling was focused on testing the unconformity along significant conductors as neighbouring deposits in the area all occur along such conductors.” commented Basin Uranium’s CEO, Mike Blady. “Assay results from phase one drilling, all of which remain pending, in conjunction with the upcoming geophysical program will be used to define drill targets for our second phase this fall.”
Mann Lake Drill Plan:
http://www.skyharbourltd.com/_resources/images/Mann_Lake_Drill_Plan.jpg
Drill Hole MN22002:
Hole MN22002 was designed to test the same conductor and geophysical setting as hole MN22001, collared 400 metres to the N-NE. It was successful crossing the unconformity and entering basement metasediments (mostly psammite) as well as locating anomalous radioactive values with the handheld scintillometer and downhole probe. Monazite and allanite mineralization at the anomaly was also observed. Graphite mineralization was also noted in basement psammites along foliations and within some fractures.
Drill Hole MN22003:
Hole MN22003 was a step-out of 350 metres to the N-NE of hole MN22002 and was designed to test the same conductor and geophysical setting. Blood-red hematite paleoweathering at the unconformity and silica mottling have overprinted the texture of the psammite directly below the unconformity. Dravite-clay alteration can be found within fractures throughout the paleoweathered section and decreasing in prevalence with depth.
This hole was successful in crossing the unconformity and intersecting radioactively anomalous intervals with allanite mineralization. Intervals within the basement rocks were found to contain graphite and dravite mineralization.
Drill Hole MN22004:
Hole MN22004 was a 150 metre step-out along the conductor and strike of hole MN06-003A which intersected 12 metres of hematized paleoweathering up hole of the unconformity which returned elevated gamma probe readings. An interpreted basement conductor, mag low and gravity low were present. While the hole did not intersect any lithology resembling the target Wollaston Group metasediments, the intersection of minor monazite mineralization in close proximity to strong clay alteration remains a potentially interesting indication of uranium mineralization nearby.
Drill Hole MN22005:
This hole was designed to test the intersection of a NE-trending structure parallel to hole MN06-005 which returned over 1,000 ppm boron and elevated radioactivity at the unconformity, as well as a cross cutting E-W trending structure on strike to hole MN06-002 where elevated radioactivity and hematite paleoweathering occur at the unconformity.
The hole was successful in intersecting a strongly hematite altered basement fault structure up hole and in close proximity to the unconformity. There was also a small interval of granitized strongly foliated metapelite intersected just below the unconformity, followed by granitic gneiss with intercalated pegmatites to the end of hole. Within the granite basement, clay dravite mineralization occurred, coating the surfaces of several low angle fractures between 652m - 663m.
About Mann Lake:
Skyharbour has entered into an Option Agreement (the “Agreement”) with Basin Uranium whereby Basin Uranium has an earn-in option to acquire a 75% interest in the Mann Lake Uranium Project. Under the Option Agreement, Basin Uranium Corp will contribute cash and exploration expenditure consideration totalling CAD $4,850,000 over a three-year period (“Project Consideration”). Of the Project Consideration, $850,000 will be in cash payments to Skyharbour and $4,000,000 will be in exploration expenditures on the project. Basin Uranium Corp will also issue to Skyharbour the equivalent value of CAD $1,750,000 in shares of Basin Uranium over the three-year earn-in period to complete the earn-in.
The Mann Lake Uranium Project is strategically located 25 km southwest of the McArthur River Mine, the largest high-grade uranium deposit in the world, and 15 km to the northeast of Cameco's Millennium uranium deposit. The Mann Lake project is also adjacent to the Mann Lake Joint Venture operated by Cameco (52.5%) with partners Denison Mines (30%) and Orano (17.5%). Denison Mines acquired International Enexco and its 30% interest in the project after a 2014 winter drill program discovered high-grade, basement-hosted uranium mineralization at this adjacent project.
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 and approved by David Billard, P.Geo., a Consulting Geologist for Skyharbour as well as a Qualified Person.
About Skyharbour Resources Ltd.:
Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with fifteen projects, ten of which are drill-ready, covering over 450,000 hectares of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Uranium Project is Skyharbour’s recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade drill intercepts over a large property area with robust exploration upside potential. The Company is actively advancing these projects through exploration and drill programs.
Skyharbour has a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project. Skyharbour also has a joint venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit. Furthermore, the Company owns a 100% interest in the South Falcon Point Uranium Project on the eastern perimeter of the Basin, which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%.
Skyharbour has several active option partners including: ASX-listed Valor Resources on the Hook Lake Uranium Project whereby Valor can earn-in 80% of the project through CAD $3,500,000 in exploration expenditures, $475,000 in cash payments over three years and an initial share issuance; CSE-listed Basin Uranium Corp. on the Mann Lake Uranium Project whereby Basin Uranium can earn-in 75% of the project through $4,000,000 in exploration expenditures, $850,000 in cash payments as well as share issuances over three years; and CSE-listed Medaro Mining Corp. on the Yurchison Project whereby Medaro can earn-in an initial 70% of the project through $5,000,000 in exploration expenditures, $800,000 in cash payments as well as share issuances over three years followed by the option to acquire the remaining 30% of the project through a payment of $7,500,000 in cash and $7,500,000 worth of shares.
Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://www.skyharbourltd.com/_resources/images/SKY-SaskProject-Locator-20220324.jpg
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.
SKYHARBOUR RESOURCES LTD.
“Jordan Trimble”
Jordan Trimble
President and CEO
For further information contact myself or:
Riley Trimble
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
The securities offered 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 U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including the Private Placement. Although management 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 the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
Traction Uranium and Fission 3.0 Drilling Intersects Anomalous Radioactivity at Lazy Edward Bay
https://ca.finance.yahoo.com/news/traction-uranium-fission-3-0-070000110.html
Traction Uranium Corp.
Tue, May 31, 2022 at 12:00 a.m.·4 min read
VANCOUVER, British Columbia, May 31, 2022 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (the “Company” or “Traction”) (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) and Fission 3.0 Corp.(“Fission 3”) are pleased to provide an update of the drilling at the Lazy Edward Bay project in the SE Athabasca Basin region which commenced on May 17, 2022. Drilling on the Horse West conductor has encountered anomalous radioactivity in drill hole LEB22-004 near the sandstone-basement unconformity at 164.6 m associated with a reverse fault.
Hole LEB22-004 is the fourth hole to be completed during the ongoing summer drilling program and intersected elevated radioactivity associated with a reverse fault at the unconformity from 163.50 to 164.0 m with a maximum of 430 cps, measured on the drill core with a handheld Radiation Solutions RS-125 scintillometer. This corresponds with a peak of 1320 cps on the borehole gamma probe within a 1.6m interval from 162.56 m to 164.16 m greater than 500 cps. These results confirm what has been reported by Uranerz Exploration and Mining Limited in historic drill hole LE-73 drilled in 1989. Geochemical analyses by Uranerz showed that the radiometric anomalies encountered in LE-73 near the unconformity were predominantly caused by high thorium contents, but they were also accompanied with elevated uranium values (170.4 m to 170.6 m of 40 ppm U and 733 ppm Th).
Follow up hole LEB-005 down dip of this intersection is in progress to test the footwall where the reverse fault intersects the basement, which is a similar setting to the occurrence of the McArthur River uranium mine.
Natural gamma radiation in the drill core that is reported in this news release was measured in counts per second (cps) using a handheld Radiation Solutions RS-125 scintillometer. Natural gamma radiation in the drill hole surveys that are reported in this news release was measured in counts per second (cps) using a Mount Sopris Instruments QL40-GRA borehole gamma probe. 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 of the presence of radioactive materials. All intersections are down-hole. All depths reported of core interval measurements of radioactivity are not always representative of true thickness.
About the Property
The Lazy Edward Bay property is located halfway between Cameco’s Key Lake Mine and the high-grade Centennial uranium deposit, and hosts NE-trending conductive corridors similar to those associated with Key Lake and Centennial. The major uranium deposits in the eastern Athabasca Basin, including Key Lake, McArthur River and Cigar Lake, are along the NE-trending Wollaston-Mudjatik transition zone and conductive corridor. To the west of the property, the Centennial deposit is localized along the NE-trending Virgin River conductive corridor which transects the entire Athabasca Basin. The Key Lake mine, located ~50 km to the east of the property is accessible by Provincial Highway 914, serviced by the provincial power grid, and has an operating mill where the McArthur River ore has been processed.
About Traction Uranium Corp.
Traction Uranium (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) is in the business of mineral exploration and the development of discovery prospects in Canada, including its two flagship uranium projects in the Athabasca Region.
We invite you to find out more about our exploration-stage activities across Canada’s Western region at www.tractionuranium.com.
About Fission 3.0 Corp.
Fission 3 is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of world's largest high grade uranium discoveries. Fission 3 currently has 16 projects in the Athabasca Basin. Several of Fission 3's projects are near large uranium discoveries, including, Arrow, Triple R and Hurricane deposits. Fission 3 is currently planning a winter exploration/drill program on its PLN project.
https://twitter.com/Fission3Corp
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 Raymond Ashley, P.Geo., Vice President, Exploration of Fission 3.0 Corp.,
On Behalf of the Board of Directors
Lester Esteban
Chief Executive Officer
+1 (604) 561 2687
info@tractionuranium.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 expected use of proceeds from the Private Placement are “forward-looking statements”. 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 as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Baselode Intersects Best Drill Hole To Date, 25 Metres From Surface
https://www.newswire.ca/news-releases/baselode-intersects-best-drill-hole-to-date-25-metres-from-surface-810581697.html
Baselode Energy Corp. May 31, 2022, 06:00 ET
AK22-051 intersected 2,320 cps over 30.1 m starting at 27.0 m drill hole depth, ranks as the best drill hole on the project, and includes six separate intervals of >10,000 cps*
AK22-047 intersected 5,229 cps over 7.35 m at 140.65 m, ranks as second-best drill hole on the project, and includes eight separate intervals of >10,000 cps
TORONTO, May 31, 2022 /CNW/ - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to provide an update on the ongoing 20,000 metre diamond drilling program (the "Program") on the ACKIO high-grade uranium discovery ("ACKIO"), Hook project ("Hook"), Athabasca Basin area (the "Basin"), northern Saskatchewan ( see Figure 1 and Table 1).
"We continue to hit mineralization at the overburden contact; within 25 m from surface. The mineralization from AK22-051 is the shallowest being drilled in the Basin. This rarity of near-surface mineralization with high levels of radioactivity sets Baselode apart from our peers as there's no other recent discovery this close to surface. Near-surface mineralization has been a key characteristic required for numerous Basin deposits going into production as open pit mines. Holes AK22-051 and AK22-047 are substantially the two best drill holes on ACKIO to date in terms of continuously elevated radioactivity. They also have the highest average levels of radioactivity, and each includes multiple discrete intersections with greater than 10,000 cps. We're excited to see ACKIO grow with near-surface mineralization, including consistently higher levels of radioactivity. AK22-051 remains open in all directions and AK22-047 remains open to the east," said James Sykes, CEO, President and Director of Baselode.
Highlights include;
AK22-051: 2,320 cps over 30.1 m at 27.0 m (new best individual continuous radioactivity intersection at ACKIO to date) which includes
9,068 cps over 0.6 m at 34.1 m, maximum 10,000 cps over 0.5 m
5,961 cps over 0.5 m at 37.6 m, maximum 7,500 cps over 0.3 m
7,615 cps over 0.7 m at 41.85 m, maximum 10,000 cps over 0.15 m
6,232 cps over 1.2 m at 45.05 m, maximum 12,000 cps over 0.1 m
6,193 cps over 1.6 m at 48.15 m, maximum 13,000 cps over 0.2 m
AK22-047: 5,229 cps over 7.35 m at 140.65 m (new 2nd best individual continuous radioactivity intersection) which includes
9,307 cps over 3.6 m at 141.45 m, maximum 25,000 cps over 0.1 m
Drill hole AK22-051 was the first drill hole off the drill pad. Follow-up drill holes will test this near surface mineralization's east and west thickness. Follow-up drilling east of AK22-047 is also planned.
Since announcing the start of the Program on February 9, 2022 ( see Company News Release), Baselode has completed 47 drill holes (AK22-005 to AK22-051) for 13,921.35 m ( see Figure 1). Twenty-five of forty-seven drill holes have intersected continuously elevated radioactivity. A complete list of drill hole collar information and hand-held scintillometer radioactivity composite measurements for the drill holes reported in this news release (AK22-042 to AK22-051) are provided in Table 1.
Samples from these reported eleven drill holes have been submitted to the Saskatchewan Research Council's Geoanalytical Laboratory in Saskatoon, Saskatchewan, for whole-rock, multi-element and U3O8 analysis. Baselode will continue to provide Program updates on a bi-monthly to monthly schedule. Uranium assay results will be released as they are received after being compiled and thoroughly checked by the technical team.
The Program is helicopter-supported to lessen any ground-induced environmental impacts within the project area, and will allow the Company to continue the Program during Spring thaw.
ACKIO is 30 km southeast of well-established infrastructure, including an all-season road and powerline between Cameco Corp.'s (TSX: CCO) and Orano's McArthur River mine and Key Lake Uranium mill joint ventures. ACKIO is 70 km northeast of the Key Lake mill.
NOTES:
cps* = "counts-per-second", as measured with a handheld RS-125 Gamma-Ray Spectrometer/Scintillometer. The reader is cautioned that Baselode uses scintillometer readings as a preliminary indication for the presence of radioactive materials (uranium, thorium and/or potassium), and that scintillometer results may not be used directly to quantify or qualify uranium concentrations of the rock samples measured.The Company considers all RS-125 readings greater than 300 cps to be considered elevated radioactivity, with background radioactivity measuring between 50 to 125 cps."Continuous elevated radioactivity" means drill core length with no greater than 2.0 m of consecutive drill hole length measuring less than 300 cps.All reported drill hole depths and lengths do not represent true thicknesses which have yet to be determined."best radioactive intersections" are determined by multiplying the average radioactivity with the reported intersection widths for each drill hole that Baselode has reported on to date.
FIGURE 1 – Plan map of the ACKIO mineralized surface expression
TABLE 1 – Drill collar details and continuous composite elevated radioactivity results from drill holes AK22-042 to AK22-051
About Baselode Energy Corp.
Baselode controls 100% of approximately 227,000 hectares for exploration in the Athabasca Basin area, northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.
Baselode's Athabasca 2.0 exploration thesis is focused on discovering near-surface, basement-hosted, high-grade uranium orebodies outside of 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."
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.sedar.com.
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.
SOURCE Baselode Energy Corp.
For further information: Baselode Energy Corp., FIND on the TSXV, info@baselode.com, www.baselode.com; James Sykes, CEO, President and Director, jsykes@oregroup.ca, 306-221-8717
Marvel Completes Airborne Survey Over KLR & Walker Claims Adjacent to Cameco & Fission, Athabasca Basin - Uranium
https://ca.finance.yahoo.com/news/marvel-completes-airborne-survey-over-133000622.html
Thu, June 2, 2022 at 6:30 a.m.·5 min read
VANCOUVER, BC / ACCESSWIRE / June 2, 2022 / Marvel Discovery Corp. (TSX-V:MARV)(FRA:O4T)(OTCQB:MARVF); ("Marvel" or the "Company") is pleased to announce completion of an airborne fixed wing magnetic survey over the KLR and Walker Uranium Project ("the Property") in the Athabasca Basin. Marvel entered into an option agreement to acquire two ("KLR" and "Walker") large strategically located land packages within the Wollaston-Mudjactic Transition Zone ("WMTZ") of the eastern Athabasca Basin (see press release dated March 29, 2022. The WMTZ hosts the highest-grade uranium mines in the world including (Figure 1):
Cigar Lake1, 50% owned by Cameco, which hosts 152 million pounds (lbs) of U3O8 at 15.4% U3O8
McArthur River2, 70% owned by Cameco which hosts 392 million lbs of U3O8 at 6.58% U3O8
Wheeler Project3, 90% owned by Denison Mines which hosts 109 million lbs of U3O8 in two deposits averaging 11.23% U3O8
The Walker Creek claims straddle the Key Lake Fault Zone, an important corridor for structurally controlled Athabasca Basin type uranium deposits.
The airborne magnetic survey covered the former Walker Creek portion of the KLR Property which consists of 10,595 hectares. The survey covered 100m spacings in an east-west configuration for a total of 1,230 line-km. The purpose of the survey was to delineate and map subsurface features, identified in previous programs and which are associated with faulting, conductive lineaments, and radioactive occurrences. The Company has commissioned an interpretation of the survey, which will be integrated with historical datasets, with the intention of defining diamond drill targets.
The Walker portion of the KLR Uranium Project package is contiguous to Fission 3.0 Hobo Lake uranium properties. Hosted within WMTZ, the Walker Property lies along the Key Lake Shear Zone and hosts 10 uranium showings and multiple unexplored EM targets (Figure 2). Both properties are easily accessible by highway. In addition, the Company has already completed 32.3 line-km of ground magnetics survey on the Highway North claim blocks within the Key Lake ground.
"We are now moving fast. We have done an extensive amount of work preparing for our next phase of exploration with boots on the ground to define drill targets. We have multiple unexplored uranium occurrences on the property intimately related to structure, and as we know structure plays an extremely important key role in providing uranium mineralization pathways and traps. The corridor along the Key Lake Shear Zone represents a tremendous opportunity in mimicking the success of basement-hosted uranium deposits found on the western side of the Athabasca Basin like NexGen Energy's Arrow Deposit. We look forward to mobilizing crews shortly once datasets have been analyzed." stated Karim Rayani, President & Chief Executive Officer, Director.
Marvel Discovery Corp., Thursday, June 2, 2022, Press release picture
Figure 1. Location of the KLR Uranium Project in the WMTZ Zone.
Marvel Discovery Corp., Thursday, June 2, 2022, Press release picture
Figure 2. Location of the KLR Uranium Project, neighbors, VTEM conductors, uranium occurrences, and airborne survey coverage.
Regional Geology and Mineralization
In Saskatchewan, uranium deposits have been discovered at, above, and up to 300m below, the Athabasca Group unconformity within basement rocks. Mineralization can occur hundreds of meters into the basement or can be up to 100m above, in Athabasca Group sandstone. Typically, uranium is present as uraninite/pitchblende that occurs as veins and semi-massive to massive replacement bodies. Mineralization is also spatially associated with steeply-dipping, graphitic basement structures and may have been remobilized during successive structural reactivation events. Such structures can be important fluid pathways as well as structural or chemical traps for mineralization as reactivation events have likely introduced further uranium into mineralized zones and provided a means for remobilization (Jefferson, et al. 2007) (Figure 3).
Marvel Discovery Corp., Thursday, June 2, 2022, Press release picture
Figure 3. Classic uranium deposits of the Athabasca Basin at the unconformity between the Athabasca sandstone and crystalline basement within the WMTZ. The Triple R, Eagle Point, Cluff Lake and Arrow deposits are found within basement rocks of the Crystalline Granulite Domain in the western Athabasca Basin. The KLR and Walker properties lie within the basement rocks just south of the former Key Lake Mine within the WMTZ. Source Searchlight Resources.
Both Properties straddle the Key Lake Fault Zone, an important corridor for structurally controlled Athabasca Basin type uranium deposits. The Arrow Deposit, owned by NexGen Energy lies along a similar structural corridor as the Marvel properties. The Arrow Deposit1, which has undergone a Positive Feasibility Study with robust economics contains Probable Reserves of 239.6 million lbs of U3O8 at an average of 2.37% U3O8 and Measured and Indicated Resources of 256.7 million lbs at an average grade of 3.1% U3O8. The Arrow Deposit is the largest undeveloped uranium deposit in Canada.
Qualified Person
The technical content of this news release has been reviewed and approved by Mike Kilbourne, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. The QP has not completed sufficient work to verify the historic information on the Properties, particularly regarding historical exploration, neighbouring companies, and government geological work. The information provides an indication of the exploration potential of the property but may not be representative of expected results.
References
Harvey, S.E. (1999): Structural geology of the Deilmann Orebody, Key Lake, Saskatchewan; in
Summary of Investigations 1999, Volume 2, Saskatchewan Geological Survey, Sask. Energy Mines,
Misc. Rep. 99-4.2.
Jefferson, C.W., Thomas, D.J., Gandhi, S.S., Ramaekers, P., Delaney, G., Brisbin, D., Cutts, C., Portella, P., and Olson, R.A. 2007. Unconformity-associated uranium deposits of the Athabasca Basin, Saskatchewan, and Alberta. In EXTECH IV: Geology and Uranium Exploration Technology of the Proterozoic Athabasca Basin. Edited by C.W. Jefferson and G. Delaney. Geological Survey of Canada, Bulletin 588, pp. 23-68.
Cigar Lake1 https://www.cameco.com/businesses/uranium-operations/canada/cigar-lake
McArthur River2 https://www.cameco.com/businesses/uranium-operations/canada/mcarthur-river-key-lake
Wheeler Project3 https://denisonmines.com/projects/core-projects/wheeler-river-project
Arrow Deposit1 https://www.nexgenenergy.ca/rook-1-project/default.aspx#feasibility-study
About Marvel Discovery Corp.
Marvel, listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company. The Company is systematically exploring its extensive property positions in:
Newfoundland (Slip, Gander North, Gander South, Victoria Lake, Baie Verte, and Hope Brook - Au Prospects)
Atikokan, Ontario (BlackFly - Au Prospect)
Elliot Lake, Ontario (East Bull - Ni-Cu-PGE Prospect)
Quebec (Duhamel -Ni-Cu-Co prospect & Titanium, Vanadium, and Chromium Prospect)
Prince George, British Columbia (Wicheeda North - Rare Earth Elements Prospect)
The Company's website is: https://marveldiscovery.ca/
ON BEHALF OF THE BOARD
Marvel Discovery Corp.
"Karim Rayani"
Karim Rayani
President/Chief Executive Officer, Director
Tel: 604 716 0551 email: k@r7.capital
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things: completion of the proposed Arrangement. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no assurance any of the conditions for closing will be met. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. 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, except as required by law
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Marvel Discovery Corp.
View source version on accesswire.com:
https://www.accesswire.com/703671/Marvel-Completes-Airborne-Survey-Over-KLR-Walker-Claims-Adjacent-to-Cameco-Fission-Athabasca-Basin--Uranium
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