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Uranium Energy Corp and Rio Tinto Agree to a Transaction on the World-Class Development-Stage Roughrider Uranium Project in Canada
https://www.newswire.ca/news-releases/uranium-energy-corp-and-rio-tinto-agree-to-a-transaction-on-the-world-class-development-stage-roughrider-uranium-project-in-canada-804236895.html
Uranium Energy Corp Oct 12, 2022, 06:30 ET
Strathmore Receives Exploration Permit for Beaver Rim
https://www.newsfilecorp.com/release/139978
Kelowna, British Columbia--(Newsfile Corp. - October 11, 2022) - Strathmore Plus Uranium Corporation (TSXV: SUU) (OTC: SUUFF) ("Strathmore Plus" or "the Company") is pleased to announce it has received a drilling and exploration permit from the state of Wyoming for its Beaver Rim project. This is Strathmore's largest project and lies immediately south and adjacent to Cameco's fully permitted Gas Hills in-situ recovery project. Historically defined mineralized trends located on Cameco controlled properties are projected to trend south beneath the Beaver Rim claims including the East Diamond, West Diamond, North Sage, and South Sage properties.
Strathmore Minerals Corp. had previously done exploration work on Beaver Rim and discovered uranium mineralization on several of the claims that the company has acquired. The mineralization is contained within arkosic-rich sandstones of the Eocene-age Wind River Formation. Previous exploration discovered multiple zones of uranium mineralization, contained in classic, Wyoming-type roll-front deposits, from depths of 700 to 1,000 feet, which Strathmore Plus intends to test.
Mr. John DeJoia, Strathmore's Technical Advisor, commented on why Strathmore Plus staked the Beaver Rim property. "Beaver Rim made the most sense for the discovery of a major Uranium mineral deposit that was open. Strathmore's property lies immediately south of the Blackstone, Muskrat, and UPZ claims. When I was Chief Geologist and Director of Technical Services at Federal American Partners (FAP) we had an underground shaft constructed to the UPZ ore zone. I have seen the mineralization we had planned to mine. FAP fully planned to mine to the south towards our Beaver Rim claims, but due to economic conditions, FAP did not move ahead with mining. Strathmore's Beaver Rim property is the same geologic environment as the Gas Hills where 100 million pounds of U308 was mined. This is the area where all the mineralizing solutions moved to the Gas Hills. The Geology is the same as the Gas Hills. It was never given the exploration effort it deserved since FAP, Union Carbide, Utah.
"International (Pathfinder) and American Nuclear had so much proven mineral in the Gas Hills. We (Strathmore Plus) eagerly anticipate implementing our recently acquired Exploration Permit."
About Strathmore Plus Uranium 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 Uranium Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Strathmore Plus Uranium Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether 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 Uranium Corp., a Qualified Person.
Strathmore Plus Uranium Corp.
Contact Information:
Investor Relations
Telephone: 1 888 882 8177
Email: info@strathmoreplus.com
ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO
Traction Uranium and Fission 3.0 Commences Follow Up Program at Hearty Bay
https://ca.finance.yahoo.com/news/traction-uranium-fission-3-0-120000078.html
Traction Uranium Corp.
Tue, October 11, 2022 at 5:00 a.m.·4 min read
CALGARY, Alberta, Oct. 11, 2022 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) and Fission 3.0 Corp. are pleased to announce mobilization of their field crew to Hearty Bay to conduct a 15 day field program to ready the property for additional drilling in 2023 with the goal of vectoring in on the source of the historic high grade uranium boulder field found on Isle Brochet.
Lester Esteban, Chief Executive Officer, stated, “Next year will be our biggest drill program to date, Hearty Bay is an ice road program, therefore we want to be prepared with the latest data possible. That is why it is crucial to build upon the results from our last drill program, by following it up with high quality, well-designed focused field programs to bolster our targets, ensuring every hole punched is pre-determined and backed with high-quality data. By scrutinizing the boulders, determining the geological environment from where they came from, and enlisting the expertise of a surficial geologist to analyze the LiDAR survey results to unravel the glacial history - all these steps before we even set foot on the ice will guide our team in creating a package of exciting drill targets to go after this coming winter.”
The Program will consist of:
Scintillometer Prospecting carried out on the SW part of Isle Brochet to locate additional high grade uranium boulders for further study and to extend the boulder trains. Mineralized boulders that may be found will be sent for more detailed analysis including thin sections, age dating, conductivity measurements and other laboratory tests.
Geological prospecting and sampling will be carried out on the north shore of the lake along the prominent magnetic low anomaly that is perpendicular to the main geological fabric, concentrating on the areas where it intersects the historic EM conductors. (Uranium occurrences are known to occur at the places along conductors where they are intersected by cross faults.)
Ground electromagnetic (EM) geophysics will be extended onto land on the north shore of Lake Athabasca to the NE of Isle Brochet to pinpoint and characterize the airborne EM conductors that were identified by a historic Tridem EM survey flown in 1980. We seek to characterize these conductors and to investigate their potential association with the new conductors that were discovered this winter NE of Isle Brochet under the lake. These surveys stand to generate additional drill targets further NE up ice from the uraniferous boulder trains.
LiDAR Survey Update (see September 20th, 2022 news release):
Palmer has been engaged to interpret the high resolution LiDAR data that was collected in September. Palmer’s lead specialist in surficial geology and mineral exploration will conduct a field reconnaissance trip to Isle Brochet in October to examine the historic trenches and boulder trains to establish a more detailed understanding of the surficial processes that have affected the area, with the aim of explaining and ultimately helping to source the radioactive boulder trains. A recommended surficial exploration strategy will be outlined that is likely best able to resolve key uncertainties in the local surficial geology, and ultimately to provide a better understanding of the boulder distribution mechanisms and source areas to inform drill-testing decisions in 2023.
About Traction Uranium Corp.
Traction Uranium Corp. is in the business of mineral exploration and the development of discovery prospects in Canada, including its three 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.
About Fission 3.0 Corp.
Fission 3 is a uranium project generator and exploration company, focusing on projects in Canada’s Athabasca Basin, home to some of the world’s largest uranium deposits. Currently the company has 16 properties in the Athabasca Basin. Fission 3 is planning a fall drilling program at PLN where previous drilling intersected basement hosted uranium mineralization and pathfinder elements showing large scale potential. PLN is one of the most advanced and highest ranked projects in F3’s extensive portfolio and is located in the area where Fission Uranium Corp and NexGen are advancing their world-class, large, high-grade uranium deposits.
https://twitter.com/Fission3Corp
About the Property
The Hearty Bay Project is located in the northwest side of the Athabasca Basin in the Beaverlodge/Uranium City district, Hearty Bay hosts a uranium boulder-field where it is interpreted that glaciation has transported high-grade uranium from a nearby source. Interpretation of a 2019 marine seismic survey defined interpreted fault intersections that represent drill targets which may be associated with the source of the uranium boulder trains.
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
Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties, ??including with respect to the Company completing phase 1 and phase 2, the Company acquiring any interest in the Property, timing of cash payments, share issuances and expenditure requirements, and development of the Property. The Company ??provides forward-looking statements for the purpose of conveying information about current ??expectations and plans relating to the future and readers are cautioned that such statements may not be ??appropriate for other purposes. By its nature, this information is subject to inherent risks and ??uncertainties that may be general or specific and which give rise to the possibility that expectations, ??forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not ??be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and ??uncertainties include but are not limited those identified and reported in the Company’s public filings ??under the Company’s SEDAR profile at www.sedar.com. 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 information, there may be other factors that cause actions, events or ??results not to be as anticipated, estimated or intended. There can be no assurance that such information ??will prove to be accurate as actual results and future events could differ materially from those ??anticipated in such statements. The Company disclaims any intention or obligation to update or revise any ??forward-looking information, whether as a result of new information, future events or otherwise unless ??required by law.?
The CSE has neither approved nor disapproved the information contained herein.
Marvel Signs Joint Venture Agreement With Carmanah Minerals on Its Walker Uranium Claims in the Athabasca Basin
https://www.accesswire.com/718964/Marvel-Signs-Joint-Venture-Agreement-With-Carmanah-Minerals-on-Its-Walker-Uranium-Claims-in-the-Athabasca-Basin
Wednesday, October 5, 2022 3:00 AM
VANCOUVER, BC / ACCESSWIRE / October 5, 2022 / Marvel Discovery Corp. (TSX-V:MARV)(Frankfurt:O4T)(OTCQB:MARVF); ("Marvel" or the "Company") is pleased to announce that it has signed a joint venture ("JV") agreement with Carmanah Minerals Corp., ("Carmanah") (CSE: CARM) to earn a 50% interest in the Walker Claims (the "Property") located in the Athabasca Basin, Saskatchewan (Figure 1). By completion of the earn-in by Carmanah, Marvel and Carmanah would each own 50% of the project with Carmanah funding $1.5 million in exploration expenditures, paying $ 400,000 in cash payments and the issuance of 3.5 million shares and 3.5 million warrants.
" We are very pleased to have reached a Joint Venture agreement with Carmanah Minerals, after careful consideration this transaction made the most sense long-term for Marvel shareholders. This affords us the ability to work both the north and south claim blocks simultaneously, while further protecting our share capitalization. Marvel still holds a considerable area of influence and controls 100% of the KLR and Highway North Claims along the Key Lake Shear Zone which is home to some of the worlds highest grade uranium. This corridor represents tremendous opportunity in mimicking the success of basement-hosted uranium deposits found on the western side of the Basin like NexGen Energy's Arrow Deposit. We look forward to working with the team at Carmanah with the common goal of a Tier 1 Discovery." stated Chief Executive Officer Karim Rayani
The Walker and KLR Properties lie within the Wollaston-Mudjactic transition zone (WMTZ) of the eastern Athabasca basin, which is host to the highest-grade uranium mines in the world, including:
The WMTZ hosts the highest-grade uranium mines in the world including (Figure 1):
Cigar Lake1, 50% owned by Cameco, which hosts reserves of 221.6 million pounds (lbs.) of U3O8 at 16.7% U3O8
McArthur River2, 70% owned by Cameco which hosts reserves of 392 million lbs. of U3O8 at 6.91% U3O8
Wheeler Project3, 90% owned by Denison Mines which hosts reserves of 109 million lbs. of U3O8 in two deposits averaging 11.23% U3O8.
Figure 1. Location of the Walker- KLR Uranium Project in the WMTZ Zone host to the highest-grade uranium deposits in the world.
Regional Geology and Mineralization
In Saskatchewan, uranium deposits have been discovered at, above and up to 300 metres below the Athabasca group unconformity within basement rocks. Mineralization can occur hundreds of metres into the basement or can be up to 100 metres 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 2).
Figure 2. 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.
Marvel still controls 100% of the Highway North and KLR claims (Figure 3). These claim groups straddle the Key Lake fault zone, an important corridor for structurally controlled Athabasca-basin-type uranium deposits. The Arrow deposit4, owned by NexGen Energy, lies along a similar structural corridor as the Marvel properties. The Arrow deposit, which has undergone a positive feasibility study with robust economics contains probable reserves of 239.6 million pounds of U3O8 at an average of 2.37% U3O8 and measured and indicated resources of 256.7 million pounds at an average grade of 3.1% U3O8. The Arrow deposit is the largest undeveloped uranium deposit in Canada.
Figure 3. Location of Walker JV and the Highway North and KLR claim groups along the Key Lake Fault with prominent VTEM conductor trends.
Qualified Person
Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.
References
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 : Cigar Lake Operation, Northern Saskatchewan, Canada, Report date March 29, 2016, Prepared by C. Scott Bishop, P.Eng., Alain G. Mainville, P.Geo. and Leslie D. Yesnik, P.Eng.
McArthur River2 : McArthur River Operation, Northern Saskatchewan, Canada, Report date March 29, 2019, Prepared by Linda Bray, P.Eng., Gregory M. Murdoch, P.Eng. and Alain D. Renault, P.Eng.
Wheeler Project3 : Prefeasibility Study Report for the Wheeler River Uranium Project, Saskatchewan, Canada, Effective date September 24, 2018, prepared by SRK Consulting.
Arrow Deposit4 : Arrow Deposit, Rook I Project, Saskatchewan, NI 43-101 Technical Report on Feasibility Study, Effective date February 22, 2021, prepared by Stantec, Wood and RPA.
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.
Consolidated Uranium Completes the Acquisition of the Ben Lomond Uranium Project in Queensland, Australia
https://ca.finance.yahoo.com/news/consolidated-uranium-completes-acquisition-ben-110000779.html
Consolidated Uranium Inc.
Mon, October 3, 2022 at 4:00 a.m.·3 min read
TORONTO, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Consolidated Uranium Inc. (“CUR”, the “Company”, “Consolidated Uranium”) (TSXV: CUR) (OTCQB: CURUF) is pleased to provide the following update on the option agreement with Mega Uranium Ltd. (“Mega”) (TSX: MGA) that was previously announced on May 14, 2020, as amended (the “Option Agreement”), providing CUR with the option to acquire a 100% undivided interest in the Ben Lomond and Georgetown uranium projects in Australia.
CUR has completed the acquisition of the Ben Lomond project for consideration comprised of $2,500,000 in connection with the exercise of the option and an additional $535,000 in connection with the spot price contingent payment terms of the Option Agreement. The total amount of $3,035,000 was satisfied by the issuance of 1,340,548 common shares of CUR (“Common Shares”), at a deemed price of $2.264 per share based on the five-day volume weighted of the Common Shares up to June 10, 2022, being the second business day prior to the date of the option being exercised. In addition, as a result of the exercise of the option, Mega is 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 of the option to acquire the Ben Lomond project triggered Mega’s right, for a period of 120 days from the date of exercise, to sell the Georgetown project to CUR for additional consideration of $500,000, payable in cash or Common Shares, at the election of CUR, 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.
Philip Williams, Chairman and CEO commented, “Ben Lomond represents the cornerstone asset for the Company in Queensland where we now have multiple projects in two important uranium districts. We believe that recent legislation introduced in Australia to remove the ban on nuclear power could be an important step in building support for additional uranium mining operations in the country of which CUR would be a beneficiary.”
All securities issued in connection with the Option Agreement are subject to a hold period expiring four months and one day from the 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.
Uranium Energy Corp Intersects 68.7% eU3O8 over 2.1 meters at Newly Acquired Christie Lake Project in Eastern Athabasca Basin, Canada
https://www.newswire.ca/news-releases/uranium-energy-corp-intersects-68-7-eu3o8-over-2-1-meters-at-newly-acquired-christie-lake-project-in-eastern-athabasca-basin-canada-801911884.html
Uranium Energy Corp Oct 04, 2022, 07:00 ET
Uranium Energy Corp Files Fiscal 2022 Annual Report, Transformative Year with Industry Leading Growth to Become the Largest, Diversified North American Focused Uranium Company
https://www.newswire.ca/news-releases/uranium-energy-corp-files-fiscal-2022-annual-report-transformative-year-with-industry-leading-growth-to-become-the-largest-diversified-north-american-focused-uranium-company-811759301.html
Uranium Energy Corp Sep 30, 2022, 06:30 ET
NYSE American: UEC
Skyharbour Signs Option Agreement with Yellow Rocks Energy to Option the Wallee and Usam Island Uranium Projects, Saskatchewan
https://ca.finance.yahoo.com/news/skyharbour-signs-option-agreement-yellow-120000842.html
Skyharbour Resources Ltd
Wed, September 28, 2022 at 5:00 a.m.·10 min read
Vancouver, BC , Sept. 28, 2022 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd.’s (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P)
Global Atomic Commences EPCM Phase for the Dasa Project
https://www.newswire.ca/news-releases/global-atomic-commences-epcm-phase-for-the-dasa-project-826797794.html
Global Atomic Corporation Sep 28, 2022, 07:00 ET
TORONTO, Sept. 28, 2022 /CNW/ - Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (Frankfurt: G12) is pleased to announce the signing of Development Consultants Private Limited ("DCPL") of Kolkata, India, and Lycopodium Minerals Canada Ltd. ("Lycopodium") to commence the basic and detailed engineering, procurement and Project Management of the Dasa Mine processing plant in the Republic of Niger.
These engineering and project delivery firms were selected to form an Integrated EPCM Project Team synthesizing proven uranium processing plant design experience with West African project management and construction experience. DCPL will focus on the Basic and Detailed Engineering required for the design of the Dasa Process Plant, with the initial phase of Basic Engineering now underway. Lycopodium will prepare the Project Execution Plan, provide input for constructability in West Africa and provide project services during this phase with the intention of continuing on to manage plant construction.
All EPCM activity will be guided and supervised by Global Atomic Owner's Team headed by Dr. Santiago Faucher, Chief Technology Officer at Global Atomic. Global Atomic and Dr. Faucher's company, Insight R&D, have now integrated metallurgical, mechanical, and electrical engineering experts with DCPL's team in Kolkata and Lycopodium's team in Toronto to direct work on the Dasa Project. Together, this Integrated EPCM Project Team will develop the detailed design and complete the project delivery, of the Dasa mine processing plant; building on proven results from the 2020 Insight R&D pilot plant trials and the findings of the 2021 Dasa Phase 1 Feasibility Study.
DCPL and Lycopodium have excellent and extensive work histories throughout Africa including technical studies, project reviews and EPCM contracting for over 77 engineering projects in mining and other industries. Additionally, DCPL has designed and built several uranium recovery and process plants and is currently the foremost engineering company in India developing that country's nuclear and uranium sectors. Lycopodium has been actively engaged in 60 mining projects across West Africa and brings recent hands-on project delivery experience in the region.
Global Atomic President and CEO, Stephen G. Roman stated, "Following Global Atomic's announcements regarding our initial off-take agreement, the formation of a banking syndicate to finance the Dasa Project and the incorporation of our Niger operating company, SOMIDA, the commencement of the EPCM phase is our next important milestone to stay on schedule to become one of the world's newest uranium production companies. Similar to most multinational firms, who source specialized engineering from India today, Global Atomic has identified DCPL as having the World's most compelling experience and track record in the design of uranium processing plants. DCPL's uranium experience will reduce project technical risk, while its ability to deliver highly detailed engineered designs will reduce in-field work and enable good project cost control."
"After an extensive selection process, DCPL and Lycopodium emerged to form the best team to undertake the EPCM phase of the Dasa Project. This Integrated EPCM Project Team is committed to completing the project on time and keeping the Dasa Project on schedule to deliver yellowcake to utilities in Q1 2025."
About DCPL
Development Consultants Private Limited ("DCPL"), is an India-based trans-national consulting engineering firm that provides an entire suite of Project Engineering services to its clients in India and around the world, from concept to commissioning, for diverse core sector and speciality projects. DCPL has led projects in many fields including mining, mineral processing and beneficiation, renewable energy and environment, power generation, transmission and distribution, industrial water supply and treatment and industrial wastewater treatment and reuse.
DCPL (www.dcpl.net.in) is closely associated with many of the nuclear power projects in India and has engineered approximately 45,000 MW of installed generation capacity, DCPL is one of the leaders in the nuclear field globally.
About Lycopodium
Lycopodium Minerals Canada Ltd., based in Toronto, is a subsidiary of Lycopodium Limited (ASX: LYL) which is headquartered in Perth, Australia, and is a leader in its field, working with clients to provide integrated engineering, construction and asset management solutions. Lycopodium has the expertise to deliver complex, multidisciplinary projects, through to the provision of feasibility studies and advisory services. Operating across the Resources, Infrastructure and Industrial Processes sectors, they offer a diverse team of industry experts to deliver bespoke and innovative solutions across all commodity types.
With the capability to deliver projects around the world, Lycopodium has offices in Australia, South Africa, Canada, Ghana and the Philippines. For more, visit www.lycopodium.com.
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 Atomic's 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
Traction Uranium Identifies New Surface Radioactive Anomalies in Radioactive Black Soil and Radioactive Swamp at Key Lake South (KLS) Uranium Project Completing Phase 1 of the Fall Field Program and Commences Phase 2
https://ca.finance.yahoo.com/news/traction-uranium-identifies-surface-radioactive-120000225.html
Traction Uranium Corp.
Tue, September 27, 2022 at 5:00 a.m.·3 min read
Figure 1:
Map showing Radioactive Anomalies
CALGARY, Alberta, Sept. 27, 2022 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) and Ugreenco Energy Corp. have completed Phase 1 of the fall kick-off ground program at their Key Lake South (KLS) uranium project in Canada’s Northern Saskatchewan world renowned Athabasca Basin and is pleased to announce the team encountering two new, previously unknown radioactive anomalies at KLS.
Phase 1 involved boulder prospecting, mapping and sampling conducted by Traction Uranium’s research geologists from the University of Saskatchewan’s Quartz Degradation Program under Dr. Yuanming Pan. Two exciting new surface radioactive anomalies had been identified during the program, a radioactive black soil anomaly and a radioactive swamp found within the KLS property (Figure 1). A sample of radioactive black soil had been collected to do further separation and PXRD (Powder X-ray Diffraction) analysis to provide the mineral composition of this black soil by Traction’s Research Team.
The distribution of the new radioactive anomalies coincides with the underlying structures interpreted from geophysical surveys, which supports the thesis that these anomalies are in-situ controlled by structures rather than erratically transported by glaciers.
MWH Geo-Surveys has started mobilization to the KLS Field and is expected to start the survey towards the end of this week initiating Phase 2 of the fall program. The Ground Gravity Survey will cover an area of approximately 4.15 square kilometers with the goal of defining structures with alteration in the basement.
The results from both Phase 1 and Phase 2 Fall Field Programs at our Key Lake South Uranium Project will be used to define and generate high priority drill targets for the upcoming winter 2023 diamond drill program at KLS.
Lester Esteban, Chief Executive Officer, stated “We are buoyed with the results of our Phase 1 program at KLS, having our team find two new radioactive anomalies in our initial program is definitely exciting. The radioactive black soil is of high interest to our team and is currently undergoing extensive analysis at the UofS. I commend the tremendous effort and dedication our research geos have invested into this initial field program and we look forward to sharing the data they have collected and compiled once the results come in.”
Figure 1 is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/8d2abe0a-5936-4b41-a5a5-985ebc91a488
About Traction Uranium Corp.
Traction Uranium Corp. is in the business of mineral exploration and the development of discovery prospects in Canada, including its three 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.
About the Property
The Key Lake South Uranium Project is located approximately 6 kilometers to the southwest of the Key Lake uranium mill and in close vicinity to modern uranium mining facilities and highway transportation in northern Saskatchewan. Geologically, it sits at the southeastern edge of the Proterozoic Athabasca Basin – home of the world’s largest and highest grade uranium deposits and operations. Recent discovery of Triple R and Arrow deposits has demonstrated further potential of high-grade uranium at the edge of the basin.
Qualified Person
The technical content of this news release has been reviewed and approved by Linglin Chu, M.Sc., P. Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
On Behalf of The Board of Directors
Lester Esteban
Chief Executive Officer
+1 (604) 561 2687
info@tractionuranium.com
Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties, ??including with respect to the Company completing phase 1 and phase 2, the Company acquiring any interest in the Property, timing of cash payments, share issuances and expenditure requirements, and development of the Property. The Company ??provides forward-looking statements for the purpose of conveying information about current ??expectations and plans relating to the future and readers are cautioned that such statements may not be ??appropriate for other purposes. By its nature, this information is subject to inherent risks and ??uncertainties that may be general or specific and which give rise to the possibility that expectations, ??forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not ??be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and ??uncertainties include but are not limited those identified and reported in the Company’s public filings ??under the Company’s SEDAR profile at www.sedar.com. 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 information, there may be other factors that cause actions, events or ??results not to be as anticipated, estimated or intended. There can be no assurance that such information ??will prove to be accurate as actual results and future events could differ materially from those ??anticipated in such statements. The Company disclaims any intention or obligation to update or revise any ??forward-looking information, whether as a result of new information, future events or otherwise unless ??required by law.?
The CSE has neither approved nor disapproved the information contained herein.
Basin Uranium Receives Approval for Notice of Intent to Drill the Wray Mesa Uranium Project
https://www.newsfilecorp.com/release/138476
Vancouver, British Columbia--(Newsfile Corp. - September 27, 2022) - BASIN URANIUM CORP. (CSE: NCLR) (OTC Pink: BURCF) (FSE: 6NP0) ("Basin Uranium" or the "Company") is pleased to announce the receipt of permits to conduct drilling on the Wray Mesa project (the "Property") in eastern Utah. The Wray Mesa project consists of 308 unpatented lode claims totaling 6,282 acres of wholly-owned and optioned claims (option to earn a 100% interest) contiguous to and adjoining Energy Fuel's (EFT-T, UUUU-NYSE) fully-permitted and production ready La Sal project which includes a number past-producing uranium and vanadium mines. The La Sal project is host to Measured & Indicated resources of 4.1 Mlb of uranium (U3O8) plus 21.5 Mlb of vanadium (V2O5) plus Inferred resources of 0.4 Mlb of uranium plus 1.9 Mlb of vanadium (source: Technical Report on the La Sal District Project, prepared for Energy Fuels Inc. by D.C. Peters and dated March 25, 2014.).
Initial drilling will focus on the Ajax and Dylan mineralized bodies with 49 holes permitted between the two mineralized areas, including drill road access and site preparation. Basin is in the final stages of preparing for the upcoming drill program and will provide updates in the coming weeks as the project approaches mobilization.
"With our drilling permits in hand, we are excited to move towards the start of exploration at Wray Mesa," commented Mike Blady, CEO of Basin Uranium. "The Wray Mesa project has been extensively drilled historically, with 495 holes drilled since the early 1970's, resulting in the definition of a number of mineralized bodies which will be the focus of the upcoming drill program. The project also represents a unique opportunity to advance a brownfields project in one of the premier energy metal jurisdictions in the United States and is very complementary to our ongoing exploration in the Athabasca Basin."
Wray Mesa Project Overview
The Property is accessible via Utah State Highway 46 and unpaved Forest Service Roads, with access to power, water and proximal to the town of La Sal.
Uranium and vanadium production in the district dates back to the early 1900's with the majority of the production derived from the Upper Salt Wash Member of the Morrison Formation (the 'Formation').
Work by previous operators discovered multiple areas of uranium-vanadium mineralization in the same geologic formation that accounted for the majority of production in the district (Upper Salt Wash Member of the Morrison Formation).
Mineralization on the property occurs at depths of 500 to 750 feet with the drill-defined mineralization ranging from 25 to 75 feet in thickness. Mineralization is typical sandstone-hosted tabular deposits wherein the uranium occurs in reduced and altered sandstones and sandstone-mudstones in major stream channels in the Formation.
Historical work dates back to Atlas Minerals and Pioneer Uravan in 1976 to 1983, who drilled a total of 495 exploration holes (of which logs for 193 holes totaling 137,510 feet or 41,913 metres were preserved), and Homeland Uranium in 2007-2008 who drilled 15 holes.
Past exploration was primarily focused on the Dylan, Ajax, Whiskey and Carlin targets. All of the mineralized areas are open to expansion. Historic drill data is not available for Carlin.
Qualified Person:
R. Tim Henneberry, PGeo (B.C.), a technical advisor to the Company, is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the technical data in this news release.
About Basin Uranium Corp.
Basin Uranium Corp. is a Canadian junior exploration company focused on mineral exploration and development in the green energy sector. The Company owns the Wray Mesa project in southeastern Utah which has seen significant historic uranium and vanadium exploration and is located adjacent to the fully-permitted and production ready La Sal project. The Company has an option to acquire a 75% interest in the Mann Lake uranium project, located in the Athabasca basin in Northern Saskatchewan, Canada and holds an option in the CHG gold exploration project located approximately 15 kilometers northwest of the town of Clinton in south-central British Columbia.
For further information, please visit https://basinuranium.ca or email info@basinuranium.ca.
On Behalf of the Board of Directors
Mike Blady
Chief Executive Officer
info@basinuranium.ca
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.
FORWARD-LOOKING STATEMENTS:
Cautionary Note Regarding Forward-Looking Statements: This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary include, without limitation, uncertainties affecting the expected use of proceeds. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
CanAlaska Announces Additional Uranium Intersections From Summer Drill Program
Controlling Structure and Graphitic Package Defined on New Discovery
Multiple Intersections of Elevated Radioactivity Below Unconformity
Preliminary Planned $10 Million 2023 Program Submitted to Joint Venture
https://www.newsfilecorp.com/release/138799
Vancouver, British Columbia--(Newsfile Corp. - September 29, 2022) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7N)
Skyharbour/Valor Resources Identify Eleven New Uranium Targets at the Hook Lake Uranium Project in the Athabasca Basin
https://ca.finance.yahoo.com/news/skyharbour-partner-company-valor-resources-210000428.html
Skyharbour Resources Ltd
Wed, September 21, 2022 at 2:00 p.m.·14 min read
Vancouver, BC, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd.’s (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P)
Strathmore Confirms Additional Uranium Mineralization in Outcrop at Night Owl
https://www.newsfilecorp.com/release/137764
Kelowna, British Columbia--(Newsfile Corp. - September 20, 2022) - Strathmore Plus Energy Corporation (TSXV: SUU.H) (OTC: SUUFF)
Labrador Uranium Provides Exploration and Machine Learning Update: Continuing to Add Targets
https://ca.finance.yahoo.com/news/labrador-uranium-provides-exploration-machine-115700312.html
Labrador Uranium Inc.
Mon, September 26, 2022 at 4:57 a.m.·8 min read
Figure 1
Labrador Uranium Properties in the Central Mineral Belt (Labrador) highlighting the locations of the 2022 Moran Lake Drilling and groundwork.
Figure 2
Two zones of typical reddish alteration and uranium mineralization intersected in ML-200.
Figure 3
Completed drilling and updated targets for the Moran Lake C Zone with bedrock geology underlay. Geology taken from Crosshair report (2012).
Figure 4
Sample 22-NM-041C. Malachite in feldspar porphyry on the LUR Moran Lake Trend.
TORONTO, Sept. 26, 2022 (GLOBE NEWSWIRE) -- Labrador Uranium Inc. (“LUR”, “Labrador Uranium”, or “the Company”) (CSE: LUR, OTCQB: LURAF, and FRA: EI1) is pleased to provide an update on its ongoing exploration and Machine Learning programs within its property (the “CMB Property”) located in the Central Mineral Belt (“CMB”) in Central Labrador, Canada.
The inaugural program includes a drill campaign and bedrock mapping program along the 20+ kilometer-long Moran Lake Trend (Figure 1). The goal of the current drilling program is two-fold: 1) to test the extent of the known historical uranium deposits/resources; and 2) to zero-in on conceptual Uranium and IOCG (Iron Oxide Copper-Gold) targets derived from LUR’s Machine Learning Program. Current exploration in the CMB also includes preparatory work for ground geophysics in the Mustang Lake prospect area, where the target is to find uranium mineralization similar to Paladin Energy’s Michelin Deposit.
Stephen Keith, CEO of LUR, commented, “Our inaugural exploration program, which began in mid-July, is progressing well. Not only are we advancing our knowledge of the Moran Lake project, but we are also starting to yield results from our initial Machine Learning Program, leading to specific drill targets. Drilling and sampling data continues to be added for mineral resource modelling, and to potentially extend the limits of known mineralization while developing possible new Uranium and IOCG targets through Machine Learning, an iterative process.”
Mr. Keith continued, “Additionally, we have started preparing to revive exploration at Mustang Lake, which we believe is located along strike from Paladin Energy’s Michelin deposit. We look forward to continuing to methodically advance our exploration efforts on our extensive land package with a modern approach to understanding 50 years of exploration data. With a strong balance sheet, we are fully funded for exploration into next year and we are excited to generate new projects within the CMB and to hopefully be in a position to delineate mineral resources in the ground. The LUR team and I would like to personally thank our shareholders for their support during these exciting times as energy supply issues become more critical.”
Figure 1: Labrador Uranium Properties in the Central Mineral Belt (Labrador) highlighting the locations of the 2022 Moran Lake Drilling and groundwork.
https://www.globenewswire.com/NewsRoom/AttachmentNg/6744ae28-e4dc-4f8c-9183-46d54f8f619b
Drill Campaign – Moran Lake Trend
The first holes of the current drill program have intersected probable extensions of uranium-bearing structural corridors. Two zones of characteristic alteration and anomalous radioactivity ranging from 10 – 30 metres downhole (true width unknown) intersected in hole ML-200 (Figure 2), extending known mineralization downdip and possibly identifying new uranium-bearing, high angle structures. This new information will be incorporated into LUR’s geological modelling and machine learning efforts to develop new priority uranium drill targets.
The Moran Lake Trend is transected by dozens of late faults and lineaments as defined by geological mapping and geophysics (Figure 3). Each of these structures is a potential pathway for the transport of oxidized mineralizing fluids associated with inferred IOCG systems that may be present within the CMB Property.
Several 2022 drill targets are designed to test and vector towards prospective IOCG-type targets, which are characterized by iron-rich alteration and elevated copper, uranium, and vanadium values. Assay results are pending for the drill holes completed to date. The interpretations derived from the 2022 drill program will be fed into LUR’s ongoing geomechanical modelling and machine learning programs to help the Company identify possible new Uranium and IOCG targets.
The Moran C Zone is located in the western part of the CMB Property and represents LUR’s most advanced project in the CMB Property. The most prolific areas of uranium mineralization known to date occur in two zones referred to as the “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, while 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% U3O81. 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. The primary focus of the drill program has been to extend the limits of known mineralization comprising the historical resources of the Moran Lake C Zone (Figure 3).
Figure 2: Two zones of typical reddish alteration and uranium mineralization intersected in ML-200.
https://www.globenewswire.com/NewsRoom/AttachmentNg/5421f1d0-2cc7-460f-9514-a481f21e4c53
________________
1 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.
Figure 3: Completed drilling and updated targets for the Moran Lake C Zone with bedrock geology underlay. Geology taken from Crosshair report (2012).
https://www.globenewswire.com/NewsRoom/AttachmentNg/c0db330a-e5f0-42bc-ac9e-7d1f422d977c
Ground Work – Moran Lake Trend
The Company is also conducting bedrock mapping and sampling along the Moran Lake Trend to zero-in on structures associated with potential IOCG systems. Previously undiscovered supergene alteration of primary copper sulfide minerals, such as azurite and malachite, have been found in hematized porphyritic volcanics. Outcrops of the same hosting quartz veining, epidote alteration and trace sulphides (Figure 4) have been identified along the Moran Lake Trend (Figure 1). Targets developed via this groundwork will then be the focus of future ground follow-up and drilling.
Figure 4: Sample 22-NM-041C. Malachite in feldspar porphyry on the LUR Moran Lake Trend.
https://www.globenewswire.com/NewsRoom/AttachmentNg/0090e305-98dc-4f50-b60d-e659631d6708
Line Cutting – Mustang Lake
LUR is also currently carrying out a ground line-cutting program over the Mustang Lake property (Figure 1) in the Company’s eastern CMB claims. This work is in preparation for a planned autumn UAV magnetic survey and winter ground gravity survey. The Mustang Lake property is along trend from, and to the east of, Paladin Energy’s Michelin deposit.
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, the Company 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
LinkedIn: https://www.linkedin.com/company/labrador-uranium-inc/
Website: 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, exploration targets and results thereof 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.
Denison Completes Commissioning of Lixiviant Injection Modules for Phoenix ISR Feasibility Field Test
https://www.newswire.ca/news-releases/denison-completes-commissioning-of-lixiviant-injection-modules-for-phoenix-isr-feasibility-field-test-857921529.html
Denison Mines Corp. Sep 26, 2022, 06:30 ET
TORONTO, Sept. 26, 2022 /CNW/ - Denison Mines Corp. ("Denison" or the "Company") (TSX: DML) (NYSE American: DNN) is pleased to announce the completion of commissioning of the lixiviant injection system for the Phoenix in-situ recovery ("ISR") Feasibility Field Test ("FFT") at the Company's 95% owned Wheeler River project ("Wheeler River" or the "Project"). The lixiviant injection system is the critical operating component necessary to support the leaching phase of the FFT. View PDF version.
Kevin Himbeault, Denison's Vice President of Plant Operations & Regulatory Affairs, commented, "With the completion of construction and wet commissioning of the injection modules, we have now successfully commenced our initial injection of lixiviant into the test area, which represents the beginning of the leaching phase of the FFT."
David Cates, Denison's President and CEO, added, "We are proud of this notable milestone, particularly given the extensive coordination and efforts of Denison's Saskatoon-based technical team and our various construction partners that have delivered on the safe and timely construction and commissioning of this first-of-its-kind test facility."
Limited construction activities continue on-site to support future phases of the FFT (discussed below). Construction efforts for the FFT are being completed in collaboration with Tron Construction & Mining, a well-established operator in northern Saskatchewan that is part of the Des Nedhe Group and owned 100% by English River First Nation. Civil earthworks for the FFT are substantially completed, and continue to be supported by Snake Lake Contracting, another northern Saskatchewan-based and Indigenous-owned business.
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.
Background on the FFT
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.
The FFT is fully permitted, having been authorized by both the Saskatchewan Minister of Environment (see news release dated July 12, 2022) and the Canadian Nuclear Safety Commission (see news release dated August 8, 2022).
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 expected production and remediation profiles.
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 leaching phase is designed to assess the effectiveness and efficiency of the leaching process in the mineralized zone, which is 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.
The neutralization phase involves 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 environmentally acceptable 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 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.
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 67.01% 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, 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
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: status of commissioning and readiness of the FFT; scope, objectives and interpretations of the FS process for the proposed ISR operation for the Phoenix deposit, including the FFT and other testing programs and the interpretation of the results therefrom; the scope and design, and related test work, with respect to plans and process designs for the FS; 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 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 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.
Cautionary Note to United States Investors Concerning Estimates of Mineral Resources and Mineral Reserves: This news release may use the terms 'measured', 'indicated' and 'inferred' mineral resources. United States investors are advised that such terms have been prepared in accordance with the definition standards on mineral reserves of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in Canadian National Instrument 43-101 Mineral Disclosure Standards ('NI 43-101') and are recognized and required by Canadian regulations. 'Inferred mineral resources' have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable. United States investors are also cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves.
Effective February 2019, the United States Securities and Exchange Commission ('SEC') adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the Exchange Act and as a result, the SEC now recognizes estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". In addition, the SEC has amended its definitions of "proven mineral reserves" and "probable mineral reserves" to be "substantially similar" to the corresponding definitions under the CIM Standards, as required under NI 43-101. However, information regarding mineral resources or mineral reserves in Denison's disclosure may not be comparable to similar information made public by United States companies.
SOURCE Denison Mines Corp.
For further information: 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
Baselode Provides Interpretations of the Recently Released Uranium Assay Results
https://www.newswire.ca/news-releases/baselode-provides-interpretations-of-the-recently-released-uranium-assay-results-892199834.html
Baselode Energy Corp. Sep 26, 2022, 11:45 ET
TORONTO, Sept. 26, 2022 /CNW/ - Baselode Energy Corp. ( TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to provide a video presentation that details geologic interpretations of the recently released uranium assay results (see News Releases dated September 12 and September 20, 2022) from the ACKIO high-grade uranium discovery ("ACKIO"), Hook project, Athabasca Basin area (the "Athabasca"), northern Saskatchewan.
The video provides new geological cross-sections from ACKIO which detail the structures, folds and lithological boundaries that are believed to control mineralization, including potential cross-structures and a SW trending lithological contact that have yet to be tested with diamond drills. The video also provides more context regarding the exploration holes drilled furthest to the southeast on ACKIO and supports the potential for mineralization to still be open in this direction.
VIEW BASELODE'S VIDEO UPDATE
About ACKIO
ACKIO measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 5 separate zones, with mineralization starting as shallow as 28 m beneath the surface and down to approximately 300 m depth beneath the surface with the bulk of mineralization occurring in the upper 200 m. ACKIO remains open to the west, south, and along the Athabasca sandstone unconformity to the east and south.
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 was helicopter-supported to lessen any ground-induced environmental impacts within the project area.
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 focuses on discovering near-surface, basement-hosted, high-grade uranium orebodies outside the Athabasca Basin. The exploration thesis is further complemented by the Company's preferred use of innovative and well-understood geophysical methods to map deep structural controls to identify shallow targets for diamond drilling.
QP Statement
The technical information contained in this news release has been reviewed and approved by Cameron MacKay, P.Geo., Vice-President, Exploration & Development for Baselode Energy Corp., who is considered to be a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
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
GoviEx Uranium Announces Positive Feasibility Study Results for Madaouela Uranium Project
Feasibility Study brings GoviEx closer to its principal objective of becoming a significant uranium producer
Solid results coupled with strengthening sentiment in favour of nuclear and shortage of supply underpin project development
https://www.newsfilecorp.com/release/137769
Vancouver, British Columbia--(Newsfile Corp. - September 20, 2022) - GoviEx Uranium Inc. (TSXV: GXU) (OTCQX: GVXXF)
CAT Strategic Completes Initial Ground Follow-Up Exploration Over Geophysical Anomalies on South Preston Uranium Project
https://www.accesswire.com/716814/CAT-Strategic-Completes-Initial-Ground-Follow-Up-Exploration-Over-Geophysical-Anomalies-on-South-Preston-Uranium-Project
Wednesday, September 21, 2022 8:00 AM
CAT Strategic Metals Corporation
www.catstrategic.com
VANCOUVER, BC / ACCESSWIRE / September 21, 2022 / CAT Strategic Metals Corporation (CSE:CAT)(OTC PINK:CATTF)(FRA:8CH) ("CAT" or the "Company") reports that, further to its news release of August 9th, 2022 announcing the completion of airborne geophysical surveys over portions of its South Preston Uranium Project in Canada's prolific Athabasca Basin, the Company has completed reconnaissance ground follow-up bio-geochemical surveying and geological prospecting over anomalies detected in the geophysical survey.
The geophysical work consisted of magnetic and electromagnetic surveying and several NE-trending conductive zones were detected that are localized on the boundaries between contrasting (high-low) magnetic domains. Conductors such as these have been associated with graphite-bearing shear zones that are important hosts to uranium mineralization in the Athabasca Basin. One of these conductive zones is contiguous with the zone currently being drill-tested by Azincourt immediately to the northeast and just over the property boundary. Another north-trending conductor was detected in the general vicinity of uranium mineralization reported by Denison Mines in 1970, however the mineral occurrence could not be located during this field program.
CAT's follow-up exploration, carried out under the management of Watts, Griffis and McOuat Ltd. ("WGM") during August and early September, consisted of vegetation sampling and prosecting for outcrops of bedrock spatially associated with the conductive zones. Two 2-man field crews were deployed, one crew focused exclusively on the bio-geochemical sampling while the other focused on bedrock examinations and sampling. In practical terms, however, the two crews worked very closely with each other to simplify helicopter support and because the focus of the work involved the same conductive zones.
The sampling of black spruce and jack pine vegetation was carried out on profiles spaced at 150-metre or 200-metre intervals crossing the conductive zones. Samples were spaced at a 25-metre interval over the central portions of the conductive zones, and increased to 50-metre intervals on the shoulders of the zones. The outer fringes were sampled using a 100-metre interval. A total of 38 profiles were sampled, ranging from 500-metre to 1,000-metres in length, and on which 718 samples were collected. Approximately one sample in every twenty was a duplicate taken for quality control purposes and to assess site variability. Sample locations were measured to within 2-3 metre accuracy by Garmin GPSMAP 64SX GPS instruments. At each site, the ambient levels of radiation were measured using a Radiation Solutions RS-125 spectrometer which gave 4-channel gamma ray measurements for K, U, Th and total count. Any anomalous radiation, for example from boulders, was also measured. The RS-125 spectrometer was also used to continuously record gamma-ray activity along the profile line, with spatial control being provided by the location and time that each biogeochemical sample was collected.
Simultaneously with the geochemical sampling, the profiles were prospected for bedrock exposures. The location of the bedrock was measured by GPS and the ambient levels of radiation were measured using an aforementioned RS-125 spectrometer. Both background and peak gamma-ray activities were recorded for any outcrop and detailed notes were made at every outcrop. A representative suite of 81 rock samples was collected including 3 duplicates for quality control purposes.
All samples are currently being analysed at the Saskatchewan Research Council's Geolab using conventional sample preparation and analysing techniques. Due to high levels of exploration activity nationwide, extended turn-around times of approximately 6 weeks are being forecast by industry laboratories including the SRC.
WGM commented that "The geophysical survey results are very encouraging. Our surface exploration confirmed the location of a major conductive zone beneath a drainage system that follows a very strong NE-trending structural lineament. Similar lineaments are closely associated with uranium deposits in much of the Athabasca Basin, and WGM's view of the uranium potential of the CAT project is very high. The next step will be to follow up geochemical anomalies associated with the conductors, and a radon lake water and bottom sediment sampling program will most likely be included as part of the next phase of groundwork planned for the coming fall/winter season".
CAT's South Preston Uranium Project comprises 29,395 hectares, and shares ~50km of contiguous claim border with Azincourt Energy Corp. ("Azincourt" or "AAZ") which reported uranium enrichment within previously identified alteration zones. Azincourt recently reported the results of their 2022 Winter drill program and CAT is particularly encouraged by the results of the recent drilling that occurred in Azincourt's G-Zone, which is quite close to the border of CAT's claim block.
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 has been reviewed for accuracy by Watts, Griffis and McOuat Ltd. ("WGM") of Toronto, Ontario, Canada. This 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
Basin Uranium Commences Phase Two Diamond Drilling Program at Mann Lake
https://www.newsfilecorp.com/release/137695
Vancouver, British Columbia--(Newsfile Corp. - September 20, 2022) - BASIN URANIUM CORP. (CSE: NCLR) (OTC Pink: BURCF) (FSE: 6NP0) ("Basin Uranium" or the "Company") is pleased to announce the commencement of a Phase two diamond drilling 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.
Highlights
Phase two drilling is designed to follow-up on exciting targets generated from phase one drilling and recently completed geophysical surveys at Mann Lake.
Approximately 4,000 meters of core drilling is planned for phase two covering the southern portion of the project.
The first hole of phase two will follow up on uranium mineralization in hole MN22-002 (see Company's news release dated September 7, 2022).
Drilling will also test conductive zones and structures identified in this summers Mobile MT survey along the unconformity contact that corresponds to prevalent gravity lows located near the southeastern portion of the project (see Company's news release dated September 13, 2022).
"We are excited to be back at Mann Lake for phase two drilling," commented Mike Blady, CEO of Basin Uranium. "Our fully funded fall program will build off of our spring and summer exploration work and will continue to vector towards additional mineralization hosted on the project."
Figure 1
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/8416/137695_1d2b7ea624fb3a0a_001full.jpg
Qualified Person:
R. Tim Henneberry, PGeo (B.C.), a technical advisor to the Company, is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the technical data in this news release.
About Basin Uranium Corp.
Basin Uranium Corp. is a Canadian junior exploration company focused on mineral exploration and development in the green energy sector. The Company owns the Wray Mesa project in southeastern Utah which has seen significant historic uranium and vanadium exploration and is located adjacent to the fully- permitted and production ready La Sal project. The Company has an option to acquire a 75% interest in the Mann Lake uranium project, located in the Athabasca basin in Northern Saskatchewan, Canada and holds an option in the CHG gold exploration project located approximately 15 kilometers northwest of the town of Clinton in south-central British Columbia.
For further information, please visit https://basinuranium.ca or email info@basinuranium.ca.
On Behalf of the Board of Directors
Mike Blady
Chief Executive Officer
info@basinuranium.ca
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.
FORWARD-LOOKING STATEMENTS:
Cautionary Note Regarding Forward-Looking Statements: This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary include, without limitation, uncertainties affecting the expected use of proceeds. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
Skyharbour/Medaro Mining Commence Airborne Geophysical Survey at Yurchison Uranium Property, Saskatchewan
https://ca.finance.yahoo.com/news/skyharbour-partner-company-medaro-mining-123000595.html
Skyharbour Resources Ltd
Thu, September 8, 2022 at 5:30 a.m.·7 min read
Vancouver, BC, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd.’s (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P)
Denison Announces Expansion of High-Grade Uranium Mineralization at McClean Lake South
https://www.newswire.ca/news-releases/denison-announces-expansion-of-high-grade-uranium-mineralization-at-mcclean-lake-south-800462884.html
Denison Mines Corp. Sep 08, 2022, 06:30 ET
TORONTO, Sept. 8, 2022 /CNW/ - Denison Mines Corp. ("Denison" or the "Company") (TSX: DML) (NYSE American: DNN)
Skyharbour/Basin Uranium Announce Intersection of Significant Mineralization from Phase 1 Drilling at Mann Lake
https://ca.finance.yahoo.com/news/skyharbour-partner-company-basin-uranium-123000156.html
Skyharbour Resources Ltd
Wed, September 7, 2022 at 5:30 a.m.·12 min read
Vancouver, BC , Sept. 07, 2022 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd.’s (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (
Forum Provides Nunavut Uranium Project Update
https://www.newsfilecorp.com/release/136014
Vancouver, British Columbia--(Newsfile Corp. - September 6, 2022) - Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or "the Company") is pleased to announce the commencement of a ground gravity survey and completion of a baseline archaeological study on its Nunavut Uranium Project, located 100 km west of the community of Baker Lake, Nunavut, within the Thelon Basin.
Rick Mazur, President & CEO stated, "The Thelon Basin is an important unconformity-type uranium district that represents the closest geological analogue in the world to the prolific Athabasca Basin. We believe that our ground hosts major high grade uranium deposits with similar potential and grades as the Athabasca. Forum is formulating plans to aggressively explore this project in 2023."
Forum staked 65,558 hectares of claims over the high-grade and not fully delineated Tatiggaq and Qavvik uranium deposits, as well as numerous highly prospective target areas formerly held by Cameco Corporation to the west of the Kiggavik Uranium Project (see News Release dated February 1, 2022). The Kiggavik uranium deposit* hosts 133 million pounds of uranium at an average grade of 0.46% Uranium and is held 66.2% by Orano Canada, 16.9% Denision Mines and 16.9% UEX Corporation.
2022 Exploration Activities
Forum's technical team (see News Release dated March 22, 2022) visited the project in June, 2022 to:
Review the 135 drill holes drilled by Cameco from 2008 to 2012 resulting in the discovery of the Tatiggaq and Qavvik deposits and the Ayra showing.
Conduct reconnaissance for a camp location for the proposed 2023 drill program.
Conduct community engagement with the Hamlet of Baker Lake.
Forum received a Screening Decision Report from the Nunavut Impact Review Board and its Land Use Permit from Crown Indigenous Relations and Northern Affairs Canada in August.
MWH Geo-Surveys currently has a 3-person team conducting ground gravity surveys over four grids within the project area (Figure 1). Approximately 1200 gravity stations will be collected largely at a station spacing of 100 m, along lines 400 m apart. Survey results will be available later in the fall and will help to delineate additional targets on the project. WSP Golder has completed a baseline archaeological study of the project. A 2-person team visited the new camp location, as well as numerous high-priority drill target areas to document any archaeological sites. WSP Golder is preparing its final report and no significant sites have been documented.
Project History
There are many Proterozoic basins worldwide, but only two have high grade unconformity-type uranium deposits that have gone into production; the Athabasca Basin in Saskatchewan, Canada and the McArthur Basin in the Northern Territory, Australia. The third Proterozoic basin having the greatest potential for high grade economic uranium deposits is the Thelon Basin in Nunavut, Canada (Figure 2). Three deposits have thus far been proposed for development - the Kiggavik, Andrew Lake and End deposits at the 133 million pound Orano/Denison/UEX Kiggavik Uranium Mine Development Project* at an average head grade of 0.46% U. The project is currently on care and maintenance.
Cameco drilled 135 holes for a total of 36,000 metres of drilling from 2008 to 2012 resulting in the discovery of the Tatiggaq deposit (approximately 5km west of Orano's Andrew Lake deposit), the Qavvik deposit, the Ayra showing and tested three other targets identified by geophysical surveys**.
The Tatiggaq discovery consists of two zones, the Main and West zones that average 30 metres in thickness between 80 and 100 metres in depth with strike lengths between 60 and 80 metres, respectively. Some significant intercepts are:
TUR-026 - 1.0% U3O8 over 14.9 metres (m) from 177.6 to 192.5m
TUR-040 - 0.92% U3O8 over 11.3 m from 159.1 to 170.4m
TUR-042 - 2.69% U3O8 over 7.9m from 200.2m to 208.1m, including 24.8% U3O8 over 0.4 m from 202.9m to 203.3m
TUR-052B - 0.43% U3O8 over 54.2m from 115.4m to 169.6m
TUR-056 - 0.93% U3O8 over 9m from 126m to 135m
TUR-058 - 1.17% U3O8 over 6.1m from 88.2m to 94.3m
Tatiggaq occurs within a large clay alteration zone measuring 0.8km in width by 1.5km in length. (Figure 3). Potential exists to significantly increase the size of this deposit which will be the focus of Forum's proposed drill program in 2023, in addition to following up on Qavvik, Ayra and other targets on the property.
*Source: Kiggavik Popular Summary, April, 2012 Nunavut Impact Review Board submission.
**Source: Various Cameco reports filed with the Nunavut Mining Recorder, presentations by Cameco at the Nunavut Mining Symposium and Saskatchewan Mining Open House from 2009 to 2013 and Rebecca Corrine Hunter PhD Thesis, Laurentian University, Sudbury, Ontario, Canada dated 2021.
Figure 1: Location of the Kiggavik, End and Andrew Lake uranium deposits on the Orano/Denison/UEX mineral lease, the Tattigaq, Qavvik and Ayra uranium showings, Forum's camp location and gravity surveys on Forum's mineral claims.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/4908/136014_ab1acf4ac45e28f2_003full.jpg
Figure 2: Location of the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. These two geological areas of the Canadian Shield host the world's richest uranium deposits.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/4908/136014_ab1acf4ac45e28f2_004full.jpg
Figure 3: The Tatiggaq deposit is within a large gravity anomaly that remains open at depth and along strike for 1.5 kilometres. Drill fences to the northeast of the West and Main deposits are proposed for 2023.
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/4908/136014_ab1acf4ac45e28f2_005full.jpg
Richard Mazur, P.Geo., Forum's President & CEO 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
Global Atomic's Dasa Drill Program Achieves 15,000-Metre Target, Successful Results Prompt Decision to Extend Program
https://www.newswire.ca/news-releases/global-atomic-s-dasa-drill-program-achieves-15-000-metre-target-successful-results-prompt-decision-to-extend-program-857207822.html
Global Atomic Corporation Aug 31, 2022, 07:00 ET
TORONTO, Aug. 31, 2022 /CNW/ - Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTC: QX: GLATF) (Frankfurt: G12)
Traction Uranium Provides Hearty Bay Research Program Update
https://ca.finance.yahoo.com/news/traction-uranium-provides-hearty-bay-120000882.html
Traction Uranium Corp.
Tue, August 30, 2022 at 5:00 a.m.·3 min read
95 Core Samples Collected from 14 Diamond Drill Holes from Hearty Bay are Currently being Analyzed for Radiation-Induced Defects in Quartz
Figure 1
Hearty Bay Drill Results
VANCOUVER, British Columbia, Aug. 30, 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 three flagship uranium projects in the world-renowned Athabasca Region is pleased to provide the following update from Traction’s research team examining radiation-induced defects in quartz from Hearty Bay drill cores.
Traction’s research geologists together with F3’s exploration team collected a total of 95 core samples from 14 diamond drill holes.
Sample selection was made on the basis of several considerations:
1) systematic coverage from different depths
2) rock types
3) structures
4) alteration styles
5) radioactivity
The samples were mostly collected from the silicified zones within the metamorphosed basement rocks, but Athabasca sandstones are present in one hole (#4).
Preliminary observations are summarized as follow:
The metamorphic basement rocks are composed of both garnet-bearing metagranites, metamorphosed pegmatites, metapelites, and metapsammites.
The basement rocks, especially those from boreholes #8 and #9, show advanced chloritization and hematitization as well as silicification and kaolinitization, indicating hydrothermal activities in local shear zones associated with a main fault.
The association of clay alteration, hematitization, and silicification along with pyrite in a mafic dyke crosscutting the basement rocks will be investigated for petrography and geochemistry.
Athabasca sandstones in hole #4 display banded clay alteration and silicification, and, locally, hematitization.
The highest radiation dose is measured using the portable scintillometer for granofelsic samples from borehole #5 at depth of 91.5m (280 cps).
Next Steps:
Polished thin sections are being made for selected samples and will be used for petrographic observations, as well as cathodoluminescence (CL) imaging for possible detection of radiation-induced damage in quartz.
Mineral separation of Athabasca sandstones from hole #4 are already underway (See Figure 1) in order to obtain quartz grains for electron paramagnetic resonance (EPR) spectroscopic analysis, which is far more sensitive than CL for detecting radiation-induced defects.
Traction Uranium Corp.
Figure 1 - Hearty Bay Drill Results
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. We look forward to providing further updates as the program progresses.
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 content of this news release has been reviewed and approved by Linglin Chu, M.Sc., P. Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
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.
Toro Energy: Lake Maitland scoping study going strong
https://www.miningweekly.com/article/lake-maitland-scoping-study-going-strong-2022-09-01/rep_id:3650
1st September 2022
By: Esmarie Iannucci
Creamer Media Senior Deputy Editor: Australasia
PERTH (miningweekly.com) – A scoping study into a standalone uranium operation at Lake Maitland, at the Wiluna project, in Western Australia, is advancing and has flagged significant cost savings.
Toro told shareholders on Thursday that the company’s research and development studies over many years have successfully identified and evaluated the opportunity to substantially reduce the size and cost of its processing facility at the Wiluna uranium project through a redesign of the proposed plant and processing flowsheet.
Beneficiation and process design studies for the Lake Maitland deposit in particular resulted in a potential large capital cost reduction for the hydrometallurgical processing plant to A$87.9-million from A$134.1-million in Toro’s prior study for the Wiluna uranium project.
A new processing flowsheet was developed which includes an initial beneficiation step that produced a low-mass, high-grade uranium concentrate. The new processing flowsheet was found to improve efficiency the most in lithologies with high clay content and Lake Maitland, which hosts 75% to 80% of the mineral resources, is clay dominant.
As Lake Maitland is most amenable to the improvements and cost reductions identified, a scoping study was initiated for a standalone Lake Maitland uranium/vanadium mining and processing operation, Toro said.
As a result of the redesigned process, vanadium can be successfully produced as a by-product of the leaching and treatment of Lake Maitland uranium ore, at a marginal cost including only an additional A$5.7-million in capital cost.
Toro said on Thursday that the total processing infrastructure capital expenditure (capex) for Lake Maitland of A$93.7-million, including the production of vanadium, is expected to be adjusted primarily for inflation.
The capex for a Lake Maitland operation is expected to be finalised in the short term and released ahead of the revised operating costs estimate.
Vimy acquisition just the start - Deep Yellow
https://www.miningweekly.com/article/vimy-acquisition-just-the-start---deep-yellow-2022-09-01/rep_id:3650
1st September 2022
By: Esmarie Iannucci
Creamer Media Senior Deputy Editor: Australasia
PERTH (miningweekly.com) – ASX-listed Deep Yellow Resource’s acquisition of fellow-listed Vimy Resources earlier this year was just the first step in the company’s merger and acquisition strategy.
Speaking on the second day of Paydirt’s Africa Downunder conference, in Perth, Deep Yellow head of business development Andrew Micro said that the company had undertaken a comprehensive review of about 200 uranium projects globally.
The projects had been identified based on deposit quality, geography, operational metrics and potential shareholder creation, adding that work was ongoing to determine which of these assets would fit best within the Deep Yellow portfolio.
“It’s about getting the best fit to achieve our ultimate goal of being a tier one company with multi-jurisdictional assets, and with the aim of producing more than ten-million pounds of uranium a year in the future,” Micro told Mining Weekly Online on the sidelines of the conference.
While unwilling to divulge the company’s acquisition budget, Micro said that Deep Yellow would look at assets where the company could add value and with definite development options.
However, Micro noted that Deep Yellow’s primary focus would be on the development of its Tumas project, in Namibia, and its newly acquired Mulga Rock project, in Western Australia.
“Our work on these projects will take priority, as well as our exploration and consolidation strategy,” he said.
Deep Yellow earlier this year settled the acquisition of Vimy Resources, under which Vimy shareholders received 0.294 Deep Yellow shares for every Vimy share held.
The transaction placed Deep Yellow in a unique position as one of the few uranium companies globally with multi-asset exposure and development optionality to deliver its stated incentive-driven production target post-2025, given the necessary incentive uranium price. The completion of the merger has also consolidated a world-class exploration portfolio across two Tier-1 mining jurisdictions, particularly the highly prospective Alligator project, able to support the company’s ambitious strategy of establishing more than 10-million pounds a year of production.
Deep Yellow is now the only ASX-listed company with two advanced, near-development-ready uranium operations.
The Tumas project will complete its definitive feasibility Study (DFS) by end 2022 with potential to produce three-million pounds a year of uranium oxide (U3O8).
The Mulga Rock project has completed a DFS and Deep Yellow plans to revise and update this study to include base metal recovery optimisation work, detailed resource definition drilling work, and mining studies, with potential to produce 3.5-million pounds a year of U3O8.
West Wits eyes uranium potential in South Africa
https://www.miningweekly.com/article/west-wits-eyes-uranium-potential-in-safrica-2022-09-01
1st September 2022
By: Esmarie Iannucci
Creamer Media Senior Deputy Editor: Australasia
PERTH (miningweekly.com) – Junior gold developer West Wits Mining is evaluating the uranium potential at its Witwatersrand Basin project, in South Africa.
Speaking on the second day of Paydirt’s Africa Downunder conference, in Perth, West Wits MD Jac van Heerden noted that the project had an exploration target of between 12-billion and 16-billion pounds of uranium.
“We are drilling three confirmation boreholes, and these will be used as the basis for a decision to continue with the drilling programme or to convert our current exploration target into a Joint Ore Reserves Committee-compliant resource.
“It’s an exciting project that we have embarked on, and we will update the market as we progress through this,” Van Heerden said.
The company in August revised the definitive feasibility study (DFS) into the Qala Shallows deposit, at the Witwatersrand Basin gold project, resulting in lower all-in sustaining costs (AISC) and higher returns.
The revised DFS resulted in a $52/oz reduction in AISC, which is now estimated at $1 093/oz, with a steady-state AISC of $962/oz, deceasing from the $1 145/oz and the $1 028/oz respectively in the original DFS.
Peak steady-state production has been estimated at 55 000 oz/y over a ten-year period, with the mine to average 43 000 oz/y over its 15.7-year mine life. West Wits reported a 19% increase, or $29-million increase in the expected pretax net present value, which is now estimated at $180-million, while the pretax internal rate of return has increased from 35% to 38%.
A 12 000 oz increase to the declared ore reserve now placed it at 3.2-million tonnes, grading 2.81 g/t gold for 290 000 oz of contained gold.
The revised DFS estimates peak funding of $63-million over a three-year period. West Wits noted that although the total capital required had reduced, peak funding requirements increased from the $48-million estimated in the original DFS. This is mainly due to the accelerated production build-up which requires additional mining equipment and underground development at an earlier stage of the project.
ALX Resources Receives Drill Results from the Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan
https://www.newsfilecorp.com/release/134789
Vancouver, British Columbia--(Newsfile Corp. - August 25, 2022) - ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") announced today the results of a diamond drilling program carried out in the winter and early spring of 2022 at the Gibbons Creek Uranium Project ("Gibbons Creek", or the "Project") located in the northern Athabasca Basin near the town of Stony Rapids, Saskatchewan. Three drill holes were completed. for a total of 1,240.3 metres, on two previously untested conductive trends. A total of 262 samples were submitted to the Saskatchewan Research Council Geoanalytical Laboratories in Saskatoon, Saskatchewan ("SRC"). Chip samples were submitted to Rekasa Rocks Inc. of Saskatoon, Saskatchewan for portable Short Wave Infra-Red ("SWIR") spectral analysis to determine clay mineral alteration species.
Highlights of the 2022 Drilling Program
Anomalous uranium values were detected in the Athabasca sandstone in all three drill holes. Ten-metre composite samples returned up to 8.29 parts per million ("ppm") uranium from a partial digestion ("U-p").
There were three composite samples in hole GC22-01 (1.46 to 1.63 ppm), six composite samples in hole GC22-02 (1.29 to 8.29 ppm), and three composite samples in hole GC2-03 (1.46 to 3.99 ppm) that are considered anomalous. All of these samples occur in the lower portions of the sandstone.
The U-p result of 8.29 ppm is approximately 16 times greater than typical background levels of U-p in the Athabasca Group sandstone (approximately 0.5 ppm). The analytical results suggest that uranium-bearing fluids were present in the area of the Gibbons Creek drill holes.
Statistical analysis also shows that there are anomalous concentrations of the pathfinder elements boron, cobalt, copper, nickel, and lead associated with the anomalous U-p results. These pathfinder elements are commonly used as guides to discovery of unconformity-type uranium deposits and provide further evidence of the presence of fluid movement potentially related to a uranium mineralizing system.
Elevated gamma probe peaks in drill hole GC22-02 (964 counts per second ("cps") at 298.36 metres and 1,296 cps at 300.91 m) correlate with mudstone beds that show iron redox alteration patterns around the contacts between the sandstone and the mudstone beds. Selective interval samples over the mudstone beds and at the contacts returned U-p values of 36.1 ppm (298.30 to 298.70 metres) and 21.3 ppm (300.71 to 300.96 metres) over the mudstone beds, and 29.1 ppm (300.96 to 301.46 metres) from the sandstone immediately below the mudstone beds. These results are clear indicators of uranium remobilization by fluid flow in the sandstone.
Drill hole GC22-01, located along the southwestern portion of the Zinger Conductor, intersected pyrite, siderite, and bleaching high in the sandstone column.
Sudoite, a chloritic alteration mineral known to be associated with uranium mineralization, was identified by SWIR analysis in the sandstone of drill hole GC22-01 just above the unconformity.
A zone of moderately graphitic pelitic gneiss was intersected in drill hole GC22-01 between 396 and 400 metres, approximately 41 metres below the unconformity, and is associated with a basement fault.
ALX believes that further drilling is warranted at Gibbons Creek as follow-up to the 2022 drill results and also in the area of historical drill hole GC13-05 located in the eastern part of the Project (0.143% U3O8 over 0.23 metres beginning at a shallow depth of 107.67 metres).
About the 2022 Drilling Program
The 2022 drilling program targeted two untested conductors in a fertile uranium district. The nearby Black Lake Uranium Project (UEX Corporation 50.92% - ALX 40% - Orano Canada 9.08%) located contiguous to Gibbons Creek, hosts graphitic conductors on parallel trends to those present at the Project, which have produced significant uranium occurrences in historical drilling.
In March 2022, ALX prepared winter trails and drill pads on three target areas located along two geophysical conductors: the Zinger Conductor and the Eclipse Conductor. The two conductors were detected in historical airborne surveys and were computer-modelled by the Company's geophysical consultant to develop new drill targets (see Fig. 1 below).
Fig. 1: Gibbons Creek Uranium Project - 2022 drill hole locations
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3046/134789_70545f61f44f5b91_001full.jpg
The southern Zinger Conductor, with 4.7 kilometres of strike length, was first detected by a 2005 MEGATEM survey and confirmed by ALX's 2017 ZTEM survey. A Spatiotemporal Geochemical Hydrocarbon ("SGH") soil survey, carried out in 2021, outlined two specific areas along the Zinger Conductor that were interpreted as being prospective for uranium mineralization, and are approximately coincident with the locations of drill holes GC22-01 and GC22-02.
A portion of the Eclipse Conductor was first delineated by the 2005 MEGATEM airborne survey, but its full strike length was obscured by the electromagnetic effects of an encroaching powerline. ALX's Maxwell modeling of the highly-conductive anomaly led to the identification of a new uranium target, tested by drill hole GC22-03.
To view maps and photos of Gibbons Creek click here
About Gibbons Creek
Gibbons Creek consists of seven mineral claims comprising 13,864 hectares (34,259 acres) located along the northern margin of the Athabasca Basin. The Project is located in a region hosting numerous historical uranium occurrences. ALX holds an exploration permit for Gibbons Creek, good until October 2022, which allows for up to 20 diamond drill holes totaling approximately 5,000 metres, along with ground-based geophysics, prospecting, and geochemical sampling. A permit extension application for an additional 18 months has been submitted to Saskatchewan Environment. Access to Gibbons Creek is via roads and trails that lead from the community of Stony Rapids, SK, which is connected to all-weather Highway 905, thereby creating flexibility for either summer or winter exploration programs.
Sampling and Analytical Method and Statement of Qualified Person
The sandstone in all three of the 2022 drill holes was systematically sampled using composite samples collected over 10-metre intervals. Selective sandstone samples were collected from zones of interest, including fracture and alteration zones, as well as within areas of elevated gamma probe results. Continuous systematic sampling was carried out above and below the unconformity. Selective sampling was conducted in the basement rocks over zones of interest, including fracture and alteration zones, and graphitic horizons. ALX regularly inserts duplicates and blank samples into the sample batches, as per industry standards, for quality assurance and quality control (QA/QC) purposes.
Geochemical analyses were carried out by SRC in Saskatoon, Saskatchewan using Inductively-Coupled Plasma Optical Emission Spectrometry ("ICP-OES") and Inductively-Coupled Plasma Mass Spectrometry ("ICP-MS") methods. A standard uranium exploration package of analyses (99 analytes in total) were completed, including total digestions utilizing aliquots of pulps prepared from a mixture of concentrated HF:HNO3:HClO4 acids and partial digestions utilizing a mixture of HNO3:HCl acids. Boron is analyzed from an aliquot of a pulp following sodium peroxide fusion. SRC also regularly inserts their own blanks, standards. and repeat analyses into the sample stream for QA/QC purposes. Partial digestions of a sample (e.g. U-p) use a weaker acid digestion than total digestions and are designed to liberate only the more mobile uranium that might be enhanced by hydrothermal fluid circulation. Anomalous uranium analyses from partial digestion are commonly used in uranium exploration because they are more indicative of proximity to uranium mineralization, or uranium-bearing hydrothermal fluid flow.
The technical information in this news release has been reviewed and approved by Robert Campbell, P.Geo., who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101.
About ALX
ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL", on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF".
ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include uranium, nickel-copper-cobalt and gold projects. The Company uses the latest exploration technologies and holds interests in over 220,000 hectares of prospective lands in Saskatchewan, a stable Canadian jurisdiction that hosts the highest-grade uranium mines in the world, a producing gold mine, and production from base metals mines, both current and historical.
ALX is an active explorer with interests in a number of uranium exploration properties in northern Saskatchewan, including 100% interests in the Gibbons Creek Uranium Project, the Sabre Uranium Project and the Javelin and McKenzie Lake Uranium Projects, a 40% interest in the Black Lake Uranium Project (a joint venture with UEX Corporation and Orano Canada Inc.), and a 20% interest in the Hook-Carter Uranium Project, located within the uranium-rich Patterson Lake Corridor with Denison Mines Corp. (80% interest) as operator of exploration since 2016.
ALX also owns 100% interests in the Firebird Nickel Project (now under option to Rio Tinto Exploration Canada Inc., who can earn up to an 80% interest), the Flying Vee Nickel/Gold and Sceptre Gold projects, and can earn up to an 80% interest in the Alligator Lake Gold Project, all located in northern Saskatchewan, Canada. ALX owns, or can earn, up to 100% interests in the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, the Vixen Gold Project (now under option to First Mining Gold Corp., who can earn up to a 100% interest in two stages), and in the Draco VMS Project in Norway.
For more information about the Company, please visit the ALX corporate website at www.alxresources.com or contact Roger Leschuk, Manager, Corporate Communications at: PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: rleschuk@alxresources.com
On Behalf of the Board of Directors of ALX Resources Corp.
"Warren Stanyer"
Warren Stanyer, CEO and Chairman
FORWARD-LOOKING STATEMENTS
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include: ALX's 2022 exploration results at the Gibbons Creek Uranium Project, and ALX's ability to continue to expend funds at that project. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that ALX may not be able to fully finance exploration on our exploration projects, including drilling; our initial findings at our exploration projects may prove to be unworthy of further expenditures; commodity prices may not support further exploration expenditures; exploration programs may be delayed or changed due to any delays experienced in consultation and engagement activities with First Nations and Metis communities and the results of such consultations; and economic, competitive, governmental, societal, public health, environmental and technological factors may affect the Company's operations, markets, products and share price. Even if we explore and develop our projects, and even if uranium, nickel, gold or other metals or minerals are discovered in quantity, ALX's projects may not be commercially viable. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Year Ended June 30, 2022, which is available under the Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward-looking statement risk factors.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Forum Commences Airborne Geophysical Survey on the Wollaston Uranium Project
https://www.newsfilecorp.com/release/134428
Vancouver, British Columbia--(Newsfile Corp. - August 22, 2022) - Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or "the Company") is pleased to announce the commencement of an airborne electromagnetic (EM) and magnetic survey on its Wollaston uranium project, located 10km south of Cameco's Rabbit Lake Uranium Mill and 30km south of Orano/Denison's McClean Lake Uranium Mill in the northeastern Athabasca Basin.
Ken Wheatley, Vice President, Exploration stated, "Drilling in the winter of 2022 demonstrated the uranium potential of the property with the discovery of the Gizmo zone. The airborne survey will aid with structural interpretations and precisely locate the EM conductors for identification of continuing gravity surveys. This will set the project up for investigating numerous high-priority targets with future drill programs, starting in 2023."
The Axiom Exploration Group Ltd. Is flying a Time Domain Electromagnetic survey (Xcite TDEM) and coincident magnetic survey over the whole project area (Figure 1). The lines will be completed at 100m spacing for an approximate total of 1650 line kilometres (Figure 2). Results from this survey will be available in September and will allow for the development of further drill targets on the project.
Figure 1: The Axiom Xcite TDEM airborne system in action.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/4908/134428_bca52816b4d49baa_003full.jpg
Figure 2: Airborne EM and Magnetic Survey over the Wollaston Project.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/4908/134428_bca52816b4d49baa_004full.jpg
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. The survey area is outlined in red. The two areas of current gravity coverage are shown, with the Gizmo showing located.
The Gizmo showing was discovered from last winters' drill program with five holes defining a very strong zone of alteration with uranium mineralization up to 0.21% U3O8 and boron (an indicator element) up to 2,200 ppm (see June 29 news release for details). A number of gravity lows are evident further to the south that have not been investigated by historic drill programs, and the EM/Magnetic survey will aid in prioritizing these targets.
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
Strathmore Early Assay Results Include .38% U3O8 from Night Owl Uranium Project
https://www.newsfilecorp.com/release/134551
Kelowna, British Columbia--(Newsfile Corp. - August 23, 2022) - Strathmore Plus Energy Corporation (TSXV: SUU.H) (OTC: SUUFF)
FORTUNE BAY INTERSECTS NEAR-SURFACE ELEVATED RADIOACTIVITY IN MULTIPLE DRILL HOLES AT THE MURMAC URANIUM PROJECT
https://www.newswire.ca/news-releases/fortune-bay-intersects-near-surface-elevated-radioactivity-in-multiple-drill-holes-at-the-murmac-uranium-project-874764391.html
Fortune Bay Corp. Aug 23, 2022, 07:00 ET
HALIFAX, NS, Aug. 23, 2022 /CNW/ - Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQX: FTBYF)
Uranium Energy Corp Completes Acquisition of UEX Corporation to Create the Largest Diversified North American Focused Uranium Company
https://www.newswire.ca/news-releases/uranium-energy-corp-completes-acquisition-of-uex-corporation-to-create-the-largest-diversified-north-american-focused-uranium-company-855309226.html
Uranium Energy Corp Aug 22, 2022, 07:00 ET
NYSE American: UEC
TSX: UEX
CORPUS CHRISTI, Texas and SASKATOON, SK, Aug. 22, 2022 /CNW/ - Uranium Energy Corp (NYSE American: UEC) (the "Company" or "UEC") and UEX Corporation (TSX: UEX) ("UEX") are pleased to announce the closing of the previously announced plan of arrangement (the "Arrangement") under the Canada Business Corporations Act, pursuant to which UEC acquired all of the issued and outstanding common shares of UEX that it did not already own. The Arrangement was approved at a special meeting of UEX securityholders held on August 15, 2022 and was subsequently approved by the Supreme Court of British Columbia on August 18, 2022. Pursuant to the terms of the Arrangement, UEX shareholders received 0.090 common shares of UEC for each UEX common share held.
UEC intends to submit applications to the Toronto Stock Exchange and to the applicable securities regulators to delist UEX's existing common shares and for UEX to cease to be a reporting issuer, respectively.
Amir Adnani, President and CEO stated: "We are pleased to have completed our acquisition of UEX. This marks UEC's second successful highly accretive M&A transaction in the last year, creating the largest diversified North American focused uranium company. We welcome UEX shareholders to UEC and appreciate the vote of confidence in supporting our transaction. The competing interest for UEX from other industry participants further validates the significant upside and strategic rationale we identified in UEX's portfolio of high-grade projects in the world-class Athabasca Basin of Saskatchewan. We look forward to working with our new stakeholders and the joint venture partners, including Cameco, Orano and Denison."
Mr. Adnani continued: "The Company's acquisitions of Uranium One Americas ("U1A") and UEX have created substantial shareholder value, with meaningful expansion of our production capabilities and resource pipeline. The U1A transaction doubled UEC's processing capacity, In-Situ Recovery ("ISR") resources and permitted projects in the United States, while the UEX transaction doubles the size of our measured and indicated uranium resources. With no debt and over $180 million of cash and liquid assets, including physical uranium, UEC has an unparalleled industry position to capitalize on nuclear power's growing role as a climate change solution, contributing towards the mega trends of decarbonization, electrification and energy transition."
Mr. Adnani concluded: "There is an emerging trend by Western utilities to secure supplies from uranium projects in politically stable and proven jurisdictions, this is a strong fit with UEC's permitted, and production-ready U.S. ISR projects and extensive growth pipeline in Canada. UEC's sector leading strategy as the fastest growing, pure play, 100% unhedged uranium company with assets only in the Western Hemisphere is a key differentiator in this emerging uranium bull market."
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, 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.
About UEX Corporation
UEX is a Canadian uranium and cobalt exploration and development company involved in an exceptional portfolio of uranium projects. UEX's directly-owned portfolio of projects is located in the eastern, western and northern perimeters of the Athabasca Basin, the world's richest uranium region which in 2020 accounted for approximately 8.1% of the global primary uranium production. In addition to advancing its uranium development projects through its ownership interest in JCU, UEX is currently advancing several other uranium deposits in the Athabasca Basin which include the Paul Bay, Ken Pen and Orora deposits at the Christie Lake Project , the Kianna, Anne, Colette and 58B deposits at its currently 49.1%-owned Shea Creek Project, the Horseshoe and Raven deposits located on its 100%-owned Horseshoe-Raven Project and the West Bear Uranium Deposit located at its 100%-owned West Bear Project.
Additional Information
Full details of the Arrangement are set out in the arrangement agreement and subsequent amendments thereto, copies of which are filed by UEC and UEX under their respective profiles on SEDAR at www.sedar.com and under UEC's profile on EDGAR at www.sec.gov. In addition, further information regarding the Arrangement is contained in a management information circular dated July 8, 2022 prepared in connection with the meeting of UEX securityholders, a copy of which is filed on UEX's profile on www.sedar.com.
Twitter: @UraniumEnergy
Stock Exchange Information:
NYSE American: UEC
Frankfurt Stock Exchange Symbol: U6Z
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 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, market and other conditions, 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. 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. Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company's ability to control or predict. 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 press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.
Forward-Looking Statement Cautions
This news release includes certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under applicable Canadian securities laws. These statements reflect the parties' respective current views with respect to future events and are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Such factors include, the synergies expected from the Arrangement not being realized; business integration risks; fluctuations in general macro economic conditions; fluctuations in securities markets and the market price of UEC Shares; fluctuations in the spot and forward price of uranium or certain other commodities (such as natural gas, fuel oil and electricity); fluctuations in the currency markets (such as the Canadian dollar and the U.S. dollar); changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in Canada and the United States; operating or technical difficulties in connection with mining or development activities; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards and industrial accidents); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom the parties do business; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on mining, availability and 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; title to properties; and the factors identified under the caption "Risk Factors" in UEC's Form 10K and under the caption "Risk Factors" in UEX's Annual Information Form. Although UEC has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The parties do not intend, and do not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.]
SOURCE Uranium Energy Corp
For further information: Please contact: Uranium Energy Corp Investor Relations, Toll Free: (866) 748-1030, Fax: (361) 888-5041, E-mail: info@uraniumenergy.com
Baselode Reports Numerous High-Grade Uranium Intersections Including 0.55% U3O8 Over 13.2 m
https://www.newswire.ca/news-releases/baselode-reports-numerous-high-grade-uranium-intersections-including-0-55-u3o8-over-13-2-m-865402801.html
Baselode Energy Corp. Aug 22, 2022, 06:00 ET
· AK22-032: 0.55% U3O8 over 13.2 m at 136.0 m true vertical depth includes 0.99% U3O8 over 6.3 m
· AK22-011: 0.69% U3O8 over 3.6 m at 144.6 m true vertical depth includes 1.26% U3O8 over 0.5 m
· AK22-009: 0.28% U3O8 over 10.5 m at 107.6 m true vertical depth includes 0.51% U3O8 over 2.0 m
· Of the reported drill holes, five confirm high-grade uranium mineralization in excess of 0.5% U3O8 and eight intersected uranium mineralization at less than 200 metres below surface
· 8 of the 44 drill holes that intersected elevated radioactivity are now reported
TORONTO, Aug. 22, 2022 /CNW/ - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to announce the geochemical assay results from twenty-one drill holes of the now-complete 2022 diamond drill program (the "Program") on the ACKIO high-grade uranium discovery ("ACKIO"), Hook project, Athabasca Basin area (the "Basin"), northern Saskatchewan (see Table 1 and Figure 1).
"We're very happy to be releasing the first set of uranium assay results from this years 22,485 metre drill program on ACKIO. These results are better than we had anticipated. We're seeing a lot of mineralization in these early Program drill holes that exceed the results from our discovery drill program last year. Five of our drill holes intersected mineralization exceeding 10 metres in core length, and a few drill holes have multiple intercepts. These are significant as they demonstrate a thick, robust, and multi-layered deposit. The mineralization reported herein is shallow, within 100 to 200 metres true vertical depth from the surface. We're confirming grades and other characteristics at ACKIO that are similar to historically mined open pit deposits in the Basin area. We are excited for the assays from the remaining thirty-six drill holes with elevated radioactivity to be received as we believe they will continue to highlight excellent U3O8 assay results from shallower depths intersected at ACKIO," said James Sykes, CEO, President and Director of Baselode.
The Company has prepared a video (see link below) that discusses:
How to understand these ACKIO assay results in context of typical high-grade uranium Athabasca deposits versus historic low-grade uranium Athabasca mines and other global uranium operations
VIEW BASELODE'S WEBINAR DETAILING THE FIRST SET OF ASSAY RESULTS FROM THE 2022 DRILL PROGRAM
Drill hole highlights from this news release include;
AK22-008: 0.11% U3O8 over 8.0 m at 175.65 m (124.2 m true vertical depth)
AK22-009: 0.28% U3O8 over 10.5 m at 136.6 m (107.6 m true vertical depth) includes
0.51% U3O8 over 2.0 m at 137.1 m and
1.32% U3O8 over 0.5 m at 144.6 m
AK22-011: 0.69% U3O8 over 3.6 m at 204.2 m (144.6 m true vertical depth) (NOTE: includes 2.1 m core loss over interval) includes
1.26% U3O8 over 0.5 m at 206.8 m
0.17% U3O8 over 13.85 m at 214.0 m (151.3 m true vertical depth) includes
0.59% U3O8 over 0.5 m at 214.0 m and
1.14% U3O8 over 0.5 m at 217.1 m
AK22-023: 0.23% U3O8 over 13.5 m at 208.0 m (147.1 m true vertical depth) includes
0.72% U3O8 over 1.5 m at 218.0 m
0.21% U3O8 over 16.0 m at 234.5 m (165.8 m true vertical depth) includes
0.83% U3O8 over 1.0 m at 248.0 m
AK22-025: 0.19% U3O8 over 4.9 m at 152.5 m (132.1 m true vertical depth)
0.23% U3O8 over 13.2 m at 213.5 m (184.9 m true vertical depth) includes
0.86% U3O8 over 1.5 m at 218.5 m
AK22-032: 0.55% U3O8 over 13.2 m at 192.35 m (136.0 m true vertical depth) includes
0.99% U3O8 over 6.3 m at 196.0 m
Baselode started the Program on February 9, 2022 (see Company News Release) and completed the Program on August 2, 2022, with 78 drill holes (AK22-005 to AK22-080, and HK22-007), including one abandoned drill hole, for a total of 22,485.85 m (see Figure 1). Forty-four of seventy-six drill holes at ACKIO have intersected elevated radioactivity. A complete list of drill hole collar information, hand-held scintillometer radioactivity composite measurements, and U3O8 composite assay results for the twenty-one drill holes reported in this news release (AK22-005 to AK22-011, and AK22-020 to AK22-033) are provided in Table 1.
Geochemical U3O8 assay results from these twenty-one reported drill holes were provided by Saskatchewan Research Council's Geoanalytical Laboratory ("SRC") in Saskatoon, Saskatchewan. The assay methodology includes SRCs "U3O8 Wt% Assay" analysis package where an aliquot of sample pulp is digested in a concentration of HCL:HNO3. The digested volume is then made up with deionized water for analysis by ICP-OES. Uranium assay results from the remaining fifty-seven drill holes will be released as they are received from SRC and after being compiled and thoroughly checked by the technical team.
ACKIO measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 5 separate zones, with mineralization starting as shallow as 25 m beneath the surface and down to approximately 300 m depth beneath the surface with the bulk of mineralization occurring in the upper 200 m. ACKIO remains open to the west, south, and along the Athabasca sandstone unconformity to the east and south.
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 was helicopter-supported to lessen any ground-induced environmental impacts within the project area.
NOTES:
1. All reported drill hole lengths do not represent true thicknesses which have yet to be determined.
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
Myriad Metals Executes Property Option Agreement Respecting Uranium Project in the Tim Mersoï Basin in Niger
https://www.newsfilecorp.com/release/134183
Vancouver, British Columbia--(Newsfile Corp. - August 17, 2022) - Myriad Metals Corp. (CSE: MMC) ("Myriad" or the "Company") is pleased to announce that it has entered into a property option agreement (the "Option Agreement") dated as of August 17, 2022, with Loxcroft Resources Ltd. ("Loxcroft") pursuant to which Myriad has the 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 Option Agreement replaces the binding letter of intent between the parties, as previously announced (see Myriad's news release dated June 10, 2022, respecting the letter of intent and the Loxcroft Properties).
Peter Smith, Myriad's CEO, commented, "We are extremely pleased to execute the Option Agreement, providing us with the option to acquire the Loxcroft Properties, located in one of the world's most prolific uranium-rich regions. We look forward to working with Loxcroft to advance the properties efficiently and effectively."
Under the Option 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 of the agreement (the "Effective Date"); 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. Myriad has issued the 8,500,000 Shares to Loxcroft. The Shares are subject to a four month hold period under applicable securities laws. In addition, the Shares are subject to a contractual three-year escrow period as follows: 850,000 Shares were released on August 17, 2022, and an additional 1,275,000 Shares will be released each six months thereafter. Myriad also issued 425,000 Shares to an arm's length finder in connection with the transaction, which finder's shares are subject to the same hold period and contractual escrow period as the Shares issued to Loxcroft under the Option Agreement.
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. In addition, under the Option Agreement 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.
About Myriad
Myriad is a Vancouver-based mineral exploration company with an option to earn a 100% interest in 1,822 km2 of uranium exploration licenses in the Tim Mersoi Basin, Niger. Myriad also has 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.
Uravan Announces the Purchase of Uranium Claims in Lisbon Valley
https://www.newswire.ca/news-releases/uravan-announces-the-purchase-of-uranium-claims-in-lisbon-valley-866500249.html
Uravan Minerals Inc. Aug 15, 2022, 14:00 ET
CALGARY, AB, Aug. 15, 2022 /CNW/ - Uravan Minerals Inc. (TSXV: UVN) ("Uravan") and Prime Fuels Corp ("Prime") announce they have entered into a Share Purchase Agreement effectively dated August 9, 2022 (the "Transaction") which sets forth the terms and conditions upon which Uravan will acquire Prime and its 100% owned mining projects located in Lisbon Valley Mining District (the "Lisbon Valley District") Utah, USA.
Prime is a private company incorporated under the laws of the State of Colorado and is the recorded and beneficial owner of a 100% interest in certain unpatented lode mining claims (the "Claims") situated in the State of Utah, USA. The Claims consist of two groups, the LS and JB mining claims, totalling 107 claims covering approximately 2,211 acres (895 ha) in the Lisbon Valley District, south-eastern Utah.
The Lisbon Valley District is in the Colorado Plateau Region, 30 miles south-east of Moab, Utah. The Lisbon Valley District has historic uranium production from 1948 to 1988 of approximately 78 million pounds U3O8 (Utah Geological Survey, OFR-188, July 1990) *. The uranium mineralization in the Lisbon Valley District is primarily hosted by the Moss Back Member of the lower Chinle Formation of Triassic Age. The Moss Back sandstone has the unique distinction of hosting some of the highest-grade uranium and vanadium mineralization in the Colorado Plateau Region.
The LS claim group is located just southeast and adjacent to the Lisbon Mine, on the downthrown side of the Lisbon Valley anticline. The Lisbon Mine was owned and operated by Rio Algom Mines Ltd, with production between 1972 – 1988, producing approximately 22 million pounds U3O8 from the Moss Back sandstone (Lisbon Valley Uranium Project, NI43-101 Technical Report by B. Fleshman, October 2005) *.
In a press release dated September 10, 2007, Mesa Uranium Corp. ("Mesa") while conducting a seven-hole drill program on the area now covered by the LS claims, reported intersecting significant uranium mineralization amounting to 17.5 feet grading 0.11% U3O8 (including 3.5 feet grading 0.28% U3O8) in drill hole L-15, collard about 8,000 feet southeast of the Lisbon Mine. Mesa also reported: "All drill holes were logged by Jet West Geophysical Services of Farmington, New Mexico to produce a log suite of Gamma, Spontaneous Potential (SP), and Resistivity values. The Gamma portion of the down-hole logging tool was calibrated at uranium-industry standard pits located in Grand Junction, Colorado. In situ uranium grades, expressed as equivalent U3O8 (eU3O8) are calculated using the digital gamma ray values acquired by the down hole logging tool and uranium industry standard techniques for gamma log interpretation."
Pursuant to the terms of the Transaction, Uravan shall acquire all the common shares of Prime from the Prime shareholders (the "Prime Shareholders") at a deemed value of $124,000 (the "Purchase Price"). The Purchase Price shall be satisfied by Uravan by the issuance of 800,000 common shares of Uravan (the "Uravan Shares") to the Prime Shareholders at a deemed value of $0.155 per Uravan Share. Following the issuance of the Uravan Shares to the Prime Shareholders, all the Prime Shares will be owned by Uravan and Prime shall become a wholly owned subsidiary of Uravan, by which Uravan shall be the beneficial and recorded owner of 100% interest in the Claims.
Uravan confirms the Transaction is entirely arm's-length and there are no finders' fees payable. The Claims are subject to a 2.0% Net Smelter Royalty.
The closing of the Transaction is expected to take place on or before August 31, 2022, following the satisfaction or waiver of the conditions by Uravan and Prime set out in Transaction. All Uravan Shares issued to the Prime Shareholders will be subject to a statutory 4-month hold period under applicable securities law. Pursuant to Policy 5.3 of the TSX Venture Exchange (the "Exchange"), the Transaction is considered a "Fundamental Acquisition" requiring Uravan to obtain Exchange approval.
Larry Lahusen, CEO of Uravan comments: "2021 - 2022 have been a pivotal year providing the necessary rise in spot uranium prices in support of exploration. Global events, such as the EU classifying uranium and nuclear power as "clean energy "and the Ukrainian invasion has refocused the US on domestic uranium production. The Small Modular Reactors, deemed safe by utilities, provides a green light toward meaningful licensing and new power plant development decisions. All these events make it the right time to re-enter the uranium exploration space, particularly in the Lisbon Valley District, an under explored uranium-bearing geological domain and where I personally have a historic background in discovery."
The scientific and technical information contained in this news release has been reviewed and approved by Mr. Derrick Strickland, P. Geo, (1000315), a "Qualified Person" ("QP") as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
*Please note the qualified person has not verified the information on the adjacent properties and the information disclosed is not necessarily indicative of mineralization on the Property that is the subject of the technical report.
43-101 Report
Uravan will provide further detailed information with respect to the technical data covered by the LS Claims and the Lisbon Valley District, in a NI 43-101 report (the "Lisbon Valley Report") that will be available on www.SEDAR.com. The Lisbon Valley Report recommends a two-phase work program totaling US$550,000 in expenditures on the Claims. Uravan has sufficient cash on hand to complete phase one of the recommended work program over the next 12 months.
Further Information
The shares of Uravan are currently being halted from trading, and the trading of shares of Uravan is expected to remain halted pending approval of the Transaction by the Exchange
Cautionary Statements
This press release may contain forward looking statements including those describing Uravan's plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty, including Uravan's work plans and the timing thereof. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, much of which are beyond the control of Uravan and its management. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.
Neither the TSX Venture Exchange, Inc. nor its Regulation Services Provider (as that term is defined in the polices of the TSX Venture Exchange) has in any way passed upon the merits of the Transaction and associated transactions and neither of the foregoing entities has in any way approved or disapproved of the contents of this press release and accepts responsibility for the adequacy or accuracy of this release.
SOURCE Uravan Minerals Inc.
For further information: Uravan Minerals Inc., Larry Lahusen, CEO and President, Email: llahusen@uravanminerals.com; Prime Fuels Corp, Christin Reimer, Director, Email: christinereimerdesign@gmail.com
Traction Uranium and UGreenco Energy Announce Option Agreement for Key Lake South Property
https://ca.finance.yahoo.com/news/traction-uranium-ugreenco-energy-announce-120000218.html
Traction Uranium Corp.
Tue, August 16, 2022 at 5:00 a.m.·5 min read
VANCOUVER, British Columbia, Aug. 16, 2022 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) is pleased to announce that it has entered into a property option agreement (the “Option Agreement”) with UGreenco Energy Corp. (the “Vendor”) dated August 15th, 2022 (the “Effective Date”), pursuant to which the Company has been granted the right to acquire up to a 75% interest in and to the Key Lake South Property, which consists of a series of mineral disposition parcels located in Athabasca Basin, Northern Saskatchewan, Canada (the “Property”).
The Key Lake South Uranium Project is located approximately 6 kilometers to the southwest of the Key Lake uranium mill and in close vicinity to modern uranium mining facilities and highway transportation in northern Saskatchewan. Geologically, it sits at the southeastern edge of the Proterozoic Athabasca Basin – home of the world’s largest and highest grade uranium deposits and operations. Recent discovery of Triple R and Arrow deposits has demonstrated further potential of high-grade uranium at the edge of the basin.
Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/50908b49-2fa1-4e5a-ace1-6755c781d2a7
Lester Esteban, Chief Executive Officer, stated, “An extraordinary uranium anomaly was outlined in the early 70’s known as the “Hot” Island and was believed to be transported from a source in the northeast, which led to the discovery of the Key Lake uranium deposit, the world’s largest high-grade uranium deposit mined with open-pit producing a total of 209.8 million pounds of uranium at the average grade of 2.32% U3O8 between 1983 and 2002. Advanced airborne geophysical surveys from both government and industry during the 2000’s depict a coincidence between this surface anomaly and underlying structures supporting a thesis that this anomaly is in-situ controlled by structures rather than erratically transported by glacier. Since the discovery of the Key Lake deposit, this area has been underexplored and we are looking forward to getting to work to unlock its potential for an unconformity-type uranium deposit.”
Terms of the Option Agreement:
In consideration for a series of cash and share payments and the incurring of exploration expenditures, separated into two phases.
Phase One
In phase one, the Company shall be entitled to acquire a 51% interest in and to the Property by:
paying $50,000 in cash to the Vendor within seven (7) days following the Effective Date;
paying an additional $200,000 in cash to the Vendor on or before December 31, 2023;
paying an additional $750,000 in cash to the Vendor on or before December 31, 2024;
issuing, within sixty (60) days following the Effective Date, such number common shares in the capital of the Company (the “Shares”) to the Vendor as is equal to $100,000 equity converted on the date of issuance at the market price of the Shares trading on the Canadian Securities Exchange (the “CSE”);
issuing, on or before December 31, 2023, such number of additional Shares to the Vendor as is equal to $200,000 converted on the date of issuance at the market price of the Shares trading on the CSE;
issuing, on or before December 31, 2024, such number of additional Shares to the Vendor as is equal to $750,000 converted on the date of issuance at the market price of the Shares trading on the CSE;
incurring, on or before December 31, 2022, $150,000 worth of exploration expenditures on the Property;
on or before December 31, 2023, either (1) completing 2,000 metres of diamond drilling on the Property or (2) incurring an additional $1,500,000 worth of exploration expenditures on the Property; and
on or before December 31, 2024, either (1) completing an additional 7,500 metres of diamond drilling on the Property or (2) incurring an additional $6,500,000 worth of exploration expenditures on the Property.
Phase Two
Upon completion of phase one, the Company shall be entitled to acquire an additional 24% interest in and to the Property, for a total interest of 75%, by:
paying an additional $750,000 in cash to the Vendor on or before December 31, 2025;
issuing, on or before December 31, 2025, such number of additional Shares to the Vendor as is equal to $750,000 converted on the date of issuance at the market price of the Shares trading on the CSE; and
on or before December 31, 2025, either (1) completing an additional 7,500 metres of diamond drilling on the Property or (2) incurring an additional $6,500,000 worth of exploration expenditures on the Property.
Upon satisfaction of phase two and commencement of commercial production on the Property, the Company will grant the Vendor a net smelter returns royalty totaling two percent (2%) on commercial production from the Property (the “NSR Royalty”), with the Company retaining the right to buy back from the Vendor one percent (1%) of the NSR Royalty for $2,000,000.
About Traction Uranium Corp.
Traction Uranium Corp. 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.
Qualified Person
The technical content of this news release has been reviewed and approved by Linglin Chu, M.Sc., P. Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
On Behalf of The Board of Directors
Lester Esteban
Chief Executive Officer
+1 (604) 561 2687
info@tractionuranium.com
Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties, ??including with respect to the Company completing phase 1 and phase 2, the Company acquiring any interest in the Property, timing of cash payments, share issuances and expenditure requirements, and development of the Property. The Company ??provides forward-looking statements for the purpose of conveying information about current ??expectations and plans relating to the future and readers are cautioned that such statements may not be ??appropriate for other purposes. By its nature, this information is subject to inherent risks and ??uncertainties that may be general or specific and which give rise to the possibility that expectations, ??forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not ??be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and ??uncertainties include but are not limited those identified and reported in the Company’s public filings ??under the Company’s SEDAR profile at www.sedar.com. 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 information, there may be other factors that cause actions, events or ??results not to be as anticipated, estimated or intended. There can be no assurance that such information ??will prove to be accurate as actual results and future events could differ materially from those ??anticipated in such statements. The Company disclaims any intention or obligation to update or revise any ??forward-looking information, whether as a result of new information, future events or otherwise unless ??required by law.?
The CSE has neither approved nor disapproved the information contained herein.
Global Atomic Announces Q2 2022 Results
https://www.newswire.ca/news-releases/global-atomic-announces-q2-2022-results-857025645.html
Global Atomic Corporation Aug 11, 2022, 18:00 ET
TORONTO, Aug. 11, 2022 /CNW/ - Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12)
Global Atomic Concludes Negotiations with the Government of Niger, forms Dasa Project Operating Company and appoints Board of Directors and Senior Management
https://www.newswire.ca/news-releases/global-atomic-concludes-negotiations-with-the-government-of-niger-forms-dasa-project-operating-company-and-appoints-board-of-directors-and-senior-management-819604924.html
Global Atomic Corporation Aug 11, 2022, 10:05 ET
TORONTO, Aug. 11, 2022 /CNW/ - Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (Frankfurt: G12), is pleased to announce the incorporation of Société Minière DASA S.A. or "SOMIDA", the Company's Niger mining subsidiary under which the Dasa Uranium Project will operate. SOMIDA will be governed by a Board of Directors comprised of six representatives from the Company and three representatives of the Government of Niger.
HIGHLIGHTS:
Share ownership of SOMIDA will be 80% Global Atomic and 20% Government of Niger, including the 10% carried interest provided under the Niger Mining Code
The Niger Government will own 20% of the shares of SOMIDA and receive dividend income when paid
The Niger Government is obligated to contribute 10% of all capital and operating costs over the life of the mine
Moussa Souley, the former Managing Director of Orano's COMINAK Mine, has been appointed Managing Director of SOMIDA
Robert Parr, Mining Engineer, MBA, has been appointed Project Manager for Dasa
"Global Atomic Corporation would like to thank His Excellency, President Mohamed Bazoum and Madame Hadizatou Ousseini Yacouba, Minister of Mines of the Republic of Niger, for their support of the Dasa Project. We look forward to a long-term partnership in the development and operation of our outstanding new uranium mine which will benefit all Nigeriens", said Stephen G. Roman, Global Atomic's President & CEO.
"The Niger Government's decision to acquire and fund an additional 10% interest in the Dasa Project reflects their confidence in the quality of the deposit and longevity of the mine. Uranium mining plays an important social-economic role in Niger, providing steady long-term employment and associated economic benefits including royalty payments, tax revenue at the local, regional and national levels, foreign exchange earnings and funds for regional development and local communities."
"This agreement demonstrates the Niger Government's commitment to support the Dasa Project, which will be viewed positively by our Banking Syndicate, who are currently conducting their Due Diligence review. We are now constructing the Dasa mining camp to house employees during construction and early-stage mine development. The Mine Site infrastructure is currently well advanced, with completion timed to coincide with commencement of mining operations and the collaring of the Portal, scheduled for November, 2022."
About Moussa Souley
Moussa Souley, is a Nigerien mining engineer, who from 2016 to 2021 was the Managing Director of the COMINAK Underground Mine a subsidiary of the French nuclear energy company Orano Group, located 100 kms north of the Dasa Project. The Cominak Mine employed over 1,000 people and shut down after 50 years of mining in March 2021.
Starting in December 2002, Mr. Souley held several management positions with Orano (previously AREVA) in Niger and France. Prior to that Mr. Souley worked as a mining engineer for Noranda in Canada, where he also studied mining and mineral processing engineering and received his Masters Degree in Mineral Economics from the University of Montreal. Mr. Souley has also lectured and designed workshops at the Engineering School of Mines, Industry and Geology in Niamey, Niger. Mr Souley speaks French and English.
About Robert Parr
Robert Parr is a mining engineer with more than 25 years' operational and technical experience across both underground and open pit operating environments. He brings valuable and extensive experience from the significant time he has spent on Australian and international projects (Africa, South America, Asia and Scandinavia). Mr. Parr has recently held the roles of Chief Operating Officer for both a leading African mining contractor (SFTP Mining) and a large Colombian gold miner (Caldas Gold). Prior to that he was the Project Director for constructing Sissingue Gold Mine in Ivory Coast. He also has mine construction experience with Ranger Uranium (Rio Tinto, Australia), Hecla Mining (San Isidora, Venezuela), Barrick Gold (Bulyanhulu, Tanzania) and Porgera Joint Venture (Barrick, Nui Guini). Mr. Parr speaks native English, conversational French and Spanish, and beginner Arabic. He is a member of AusIMM and qualifies as a Competent Person for evaluating mining reserves.
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 Dasa Feasibility Study filed December 2021 represents approximately 20% of the current resource and estimates 45.4 million pounds U3O8 production over a 12-year period 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: 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
CAT Strategic Deploys Crew to Begin Ground Geophysical Survey of South Preston Uranium Project
https://www.accesswire.com/711376/CAT-Strategic-Deploys-Crew-to-Begin-Ground-Geophysical-Survey-of-South-Preston-Uranium-Project
Tuesday, August 9, 2022 8:00 AM
VANCOUVER, BC / ACCESSWIRE / August 9, 2022 / CAT Strategic Metals Corporation (CSE:CAT)(OTC PINK:CATTF)(FRA:8CH) ("CAT" or the "Company") reports that, further to its news release of July 5, 2022, announcing the completion of a detailed airborne geophysical survey on the South Preston Uranium Project in Canada's prolific Athabasca Basin, the Company has deployed an exploration team to the property in order to begin a highly anticipated exploration program.
Two field crews will be conducting a variety of activities; including prospecting with gamma-ray spectrometers for radioactive bedrock and boulders in the areas over, and adjacent to, conductors identified by the recently completed airborne EM-magnetometer survey. The crews will map and sample any bedrock encountered in the target areas.
The team will also attempt to confirm the location of radioactive boulders and bedrock reported in historical records that are part of the Company's extensive database. The goal is to characterize these historical occurrences in terms that may provide a better understanding of the vectors toward mineralization, i.e., type of rock, size and angularity of boulders.
Additionally, bio-geochemical sampling of black spruce in the above-mentioned areas will occur using a grid approach, with profiles on a 150 metre spacing and 25 metre sample site spacing.
CAT's South Preston Uranium Project comprises 29,395 hectares, and shares ~50km of contiguous claim border with Azincourt Energy Corp. ("Azincourt" or "AAZ") which reported uranium enrichment within previously identified alteration zones. Azincourt recently reported the results of their 2022 Winter drill program and CAT is particularly encouraged by the results of the drilling that occurred in Azincourt's G-Zone, which is quite close to the border of CAT's claim block.
According to CAT CEO, Robert Rosner, "Our neighbour to the north, Azincourt Energy, recently reported highly encouraging results from its Winter drill program, and we are particularly interested in the drilling they did in the G-Zone. 9 holes were drilled in this zone that appear to be following a trend of hydrothermal alteration with each subsequent new drill hole getting closer and closer to CAT's Claim. This suggests to us that whatever system they are encountering on their property could very well extend onto our property as well. Now that we have a crew in the field at South Preston, we are quite excited to add new information to the data-set that will be intrinsic to our future exploration activities"
As a result of the ongoing success of Azincourt's exploration and drilling activities in the area, CAT's management and consulting group held an informal first meeting with Azincourt's team to discuss in general terms the potential of the area and the various exploration activities conducted in the past and present, and what the most logical next step work programs might look like on both sides of the property line.
Alex Klenman, CEO of Azincourt Energy, stated; "We are quite pleased to collaborate with the team from CAT". Both of our companies obviously share an interest in regional exploration efforts and we feel that both companies can benefit from an ongoing, open dialogue that may be advantageous to both of our exploration plans. We are following CAT closely, as they are with us, so we're going to develop a good working relationship that helps both CAT and Azincourt vector towards meaningful and impactful discovery."
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", on OTCMarkets.com under the trading symbol "CATTF", 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
Ur-Energy Announces Multi-Year Uranium Sales Agreement
https://www.accesswire.com/711243/Ur-Energy-Announces-Multi-Year-Uranium-Sales-Agreement
Monday, August 8, 2022 5:30 PM
Ur-Energy Inc.
LITTLETON, CO / ACCESSWIRE / August 8, 2022 / Ur-Energy Inc. (NYSE American:URG)(TSX:URE) (the "Company" or "Ur-Energy") is pleased to announce that it has signed a multi-year sales agreement with a leading U.S. nuclear utility to supply uranium produced from a project owned and operated by the Company's U.S. subsidiaries, including Lost Creek.
Completing this supply agreement marks the first step of Ur-Energy's strategic product marketing plan by which the Company intends to commit a portion of its future uranium production into term sales agreements with U.S. based nuclear utilities. This initial agreement calls for the annual delivery of a base amount of 200,000 pounds of uranium concentrates over a six-year period beginning in the second half of 2023. Sales prices are anticipated to be profitable on a Company-wide, all-in cost basis and are escalated annually from the initial pricing in 2023.
Ur-Energy believes this agreement reflects the U.S. utilities desire to support domestic uranium production from a proven producer. Pursuant to the Company's request, the sales agreement is conditioned on Ur-Energy securing additional contractual commitments to support a development decision. Ur-Energy is in ongoing discussions with other domestic utilities with the objective of layering in sufficient additional term offtake contracts to incentivize a full ramp up of production at Lost Creek.
In addition to its efforts to secure contracts with utilities, Ur-Energy has recently submitted a bid proposal to the U.S. Department of Energy ("DOE") in response to DOE's solicitation for the purchase of up to one million pounds of domestically produced uranium to implement the Uranium Reserve Program. Ur-Energy maintains approximately 324,000 pounds of U.S. produced and housed inventory that is ready to sell to the U.S. government to help establish the Uranium Reserve or to supplement early deliveries of uranium to utility customers.
The licensed annual capacity of the operating Lost Creek Mine is 2.2 million pounds U3O8. A total of 2.2 million pounds can be processed in the plant, of which up to 1.2 million pounds can be produced from the surrounding wellfields. Since beginning production in 2013, the Lost Creek Mine has produced 2.7 million pounds of U3O8 and currently continues production at a reduced level. A drilling and wellfield construction program, initiated at Lost Creek in Q4 2021, is progressing with the objective of expediting production ramp up and facilitating our ability to deliver into offtake agreements.
About Ur-Energy
Ur-Energy is a uranium mining company operating the Lost Creek in-situ recovery uranium facility in south-central Wyoming. We have produced, packaged, and shipped approximately 2.6 million pounds U3O8 from Lost Creek since the commencement of operations. Ur-Energy has all major permits and authorizations to begin construction at Shirley Basin, the Company's second in situ recovery uranium facility in Wyoming and is in the process of obtaining remaining amendments to Lost Creek authorizations for expansion of Lost Creek. Ur-Energy is engaged in uranium recovery and processing activities, including the acquisition, exploration, development, and operation of uranium mineral properties in the United States. The primary trading market for Ur-Energy's common shares is on the NYSE American under the symbol "URG." Ur-Energy's common shares also trade on the Toronto Stock Exchange under the symbol "URE." Ur-Energy's corporate office is located in Littleton, Colorado and its registered office is located in Ottawa, Ontario.
FOR FURTHER INFORMATION, PLEASE CONTACT
John W. Cash, Chairman, CEO & President
866-981-4588, ext. 303
John.Cash@Ur-Energy.com
Cautionary Note Regarding Forward-Looking Information
This release may contain "forward-looking statements" within the meaning of applicable securities laws regarding events or conditions that may occur in the future (e.g., whether additional sales agreements will be secured in a timely fashion to complement this agreement; whether the specified sales prices will be profitable to the Company; the timing for contract awards under the new national Uranium Reserve and whether our bid proposal will be accepted; and timing to determine future development and construction priorities, including completion of our advanced development program at Lost Creek, and the impact the program will have on ramp-up) and are based on current expectations that, while considered reasonable by management at this time, inherently involve a number of significant business, economic and competitive risks, uncertainties and contingencies. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans," "expects," "does not expect," "is expected," "is likely," "estimates," "intends," "anticipates," "does not anticipate," or "believes," or variations of the foregoing, or statements that certain actions, events or results "may," "could," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, are considered to be forward-looking statements. 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 express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from any forward-looking statements include, but are not limited to, capital and other costs varying significantly from estimates; failure to establish estimated resources and reserves; the grade and recovery of ore which is mined varying from estimates; production rates, methods and amounts varying from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; inflation; changes in exchange rates; fluctuations in commodity prices; delays in development and other factors described in the public filings made by the Company at www.sedar.com and www.sec.gov. Readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are based on the beliefs, expectations and opinions of management as of the date hereof and Ur-Energy disclaims any intent or obligation to update them or revise them to reflect any change in circumstances or in management's beliefs, expectations or opinions that occur in the future.
SOURCE: Ur-Energy Inc.
Denison Reports Financial and Operational Results for Q2 2022, Including Uranium Sales from Production at $74.65 per lb U3O8
https://www.newswire.ca/news-releases/denison-reports-financial-and-operational-results-for-q2-2022-including-uranium-sales-from-production-at-74-65-per-lb-u3o8-836141891.html
Denison Mines Corp. Aug 04, 2022, 17:53 ET
TORONTO, Aug. 4, 2022 /CNW/ - Denison Mines Corp. ('Denison' or the 'Company') (TSX: DML) (NYSE American: DNN) today filed its Condensed Consolidated Financial Statements and Management's Discussion & Analysis ('MD&A') for the quarter ended June 30, 2022. Both documents will be available on the Company's website at www.denisonmines.com, SEDAR (at www.sedar.com) and EDGAR (at www.sec.gov/edgar.shtml). The highlights provided below are derived from these documents and should be read in conjunction with them. All amounts in this release are in Canadian dollars unless otherwise stated.
PDF Version
David Cates, President and CEO of Denison commented, "During the second quarter, Denison capitalized on rising uranium prices with the sale of the Company's share of Canadian-origin production received from the successful SABRE mining test completed by the McClean Lake Joint Venture ('MLJV') in 2021. The SABRE test resulted in the production of over 175,000 lbs U3O8. By comparison, this test production represents over eight times the total mine production of uranium reported in the United States for 2021 – highlighting the importance of new sources of low-cost Canadian uranium supply as the global uranium market grapples with sanctions and self-sanctioning against Russian uranium supplies and progresses towards a geopolitical bifurcation where product origin could be crucial.
The Company's flagship Wheeler River development project is well positioned to respond to global demand for Canadian-origin uranium, and our efforts through the second quarter have produced several key developments that have advanced the project – namely, the receipt of regulatory approval from the Province of Saskatchewan to carry out the Feasibility Field Test ('FFT') planned for the Phoenix deposit and the achievement of key metallurgical milestones to define the components necessary for the Phoenix processing plant and confirm our ability to produce a saleable yellowcake. We were also pleased to report the execution of two important agreements with Kineepik Métis Local #9 ('KML') for (i) Denison's exploration and evaluation activities within KML's land and occupancy area, and (ii) the co-development of an agreement related to the advancement of the proposed Phoenix In-Situ Recovery ('ISR') uranium mining operation.
During the second half of the year, we are anticipating the completion of ISR field testing initiated at Wheeler River during the first quarter of the year and the transition of our efforts to focus on the preparation, construction, and operation of the Phoenix FFT. From a regulatory standpoint, we are approaching the submission of our draft Environmental Impact Statement for Wheeler River, which is expected to represent a key accomplishment in the environmental assessment and permitting process. On the exploration side, we will be participating in partner-operated programs and are planning to complete regional exploration drilling programs at Wheeler River and Waterbury Lake."
Highlights
Completed the sale of 40,000 pounds of U3O8 from MLJV production at a sales price of $74.65 (US$59.25) per pound U3O8.
In April 2022, Denison completed the sale of 40,000 pounds of U3O8, representing the Company's share of production from the SABRE test mining program completed at the MLJV in 2021. The uranium was sold at a price of $74.65 (US$59.25) per pound U3O8.
Received approval to construct and operate the Phoenix FFT
In July 2022, Denison announced that it had received approval from the Province of Saskatchewan to prepare, construct, and operate the facilities required to carry out the ISR FFT planned for the Phoenix deposit ('Phoenix') at the Company's 95% owned Wheeler River Uranium Project ('Wheeler River' or 'the Project'). The approval was granted by the Saskatchewan Minister of Environment 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.
Achieved key milestone for Phoenix with completion of metallurgical test work to define Phoenix process plant components and confirmation of ability to produce Yellowcake
In August 2022, Denison announced the substantial completion of extensive metallurgical test work to define the mechanical components for the planned Phoenix processing plant as part of the Feasibility Study underway for Wheeler River. In addition, the metallurgical program has confirmed the ability to produce a yellowcake product that meets industry standard ASTM C967-13 specifications.
Executed agreements with KML
In June 2022, Denison announced that it has entered into a Participation and Funding Agreement with KML which expresses Denison's and KML's mutual commitment to the co-development of an agreement supporting the advancement of the ISR uranium mining operation proposed at Wheeler River. The Company also entered into an Exploration Agreement in respect of all of Denison's exploration and evaluation activities within KML's land and occupancy area. These agreements reflect Denison's commitment to the principles set out in the Company's Indigenous People's Policy and advancing reconciliation through taking action.
About Denison
Denison Mines Corp. was formed under the laws of Ontario and is a reporting issuer in all Canadian provinces and territories. Denison's common shares are listed on the Toronto Stock Exchange under the symbol 'DML' and on the NYSE American exchange under the symbol 'DNN'.
Denison is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. The Company has an effective 95% interest in its flagship Wheeler River Uranium Project, which is the largest undeveloped uranium project in the infrastructure rich eastern portion of the Athabasca Basin region of northern Saskatchewan. A Pre-Feasibility Study ('PFS') was completed for Wheeler River in late 2018, considering the potential economic merit of developing Phoenix as an ISR operation and the Gryphon deposit as a conventional underground mining operation. Denison's interests in Saskatchewan also include a 22.5% ownership interest in the MLJV, which includes several uranium deposits and the McClean Lake uranium mill, which 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 67.01% 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 located within 20 kilometres of the McClean Lake mill.
Through its 50% ownership of JCU (Canada) Exploration Company Limited ('JCU'), Denison holds additional interests in various uranium project joint ventures in Canada, including the Millennium project (JCU, 30.099%), the Kiggavik project (JCU, 33.8118%) and Christie Lake (JCU, 34.4508%).
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.
Technical Disclosure and Qualified Person
The technical information contained in this press release has been reviewed and approved by David Bronkhorst, P.Eng, Denison's Vice President, Operations who is a Qualified Person in accordance with the requirements of NI 43-101.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
Certain information contained in this press release constitutes 'forward-looking information', within the meaning of the applicable United States and Canadian legislation concerning the business, operations and financial performance and condition of Denison.
Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes', or the negatives and/or variations of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur', 'be achieved' or 'has the potential to'.
In particular, this press release contains forward-looking information pertaining to the following: projections with respect to exploration, development and expansion plans and objectives, including the scope, objectives and interpretations of the Feasibility Study process for the proposed ISR operation for the Phoenix deposit, including the FFT and metallurgical testing programs described herein and the interpretation of the results therefrom; expectations regarding regulatory applications and approvals and the elements thereof, including the submission of the Environmental Impact Statement; expectations regarding Denison's joint venture ownership interests; expectations regarding the continuity of its agreements with third parties; and its interpretations of, and expectations for, nuclear energy and uranium demand. Statements relating to 'mineral reserves' or 'mineral resources' are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions that the mineral reserves and mineral resources described can be profitably produced in the future.
Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Denison to be materially different from those expressed or implied by such forward-looking statements. For example, the results and underlying assumptions and interpretations of the PFS as well as de-risking efforts such as the ISR field programs discussed herein may not be maintained after further testing or be representative of actual conditions within the applicable deposits. In addition, Denison may decide or otherwise be required to extend its evaluation activities and/or the FS and/or otherwise discontinue testing, evaluation and development work if it is unable to maintain or otherwise secure the necessary approvals or resources (such as testing facilities, capital funding, etc.). Denison believes that the expectations reflected in this forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be accurate and results may differ materially from those anticipated in this forward-looking information. For a discussion in respect of risks and other factors that could influence forward-looking events, please refer to the factors discussed in Denison's 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 press release is expressly qualified by this cautionary statement. Any forward-looking information and the assumptions made with respect thereto speaks only as of the date of this press release. Denison does not undertake any obligation to publicly update or revise any forward-looking information after the date of this press release to conform such information to actual results or to changes in Denison's expectations except as otherwise required by applicable legislation.
SOURCE Denison Mines Corp.
For further information: David Cates, President and Chief Executive Officer, (416) 979-1991 ext. 362; Mac McDonald, Exec. Vice President & Chief Financial Officer, (416) 979-1991 ext. 242; Follow Denison on Twitter: @DenisonMinesCo
Ur-Energy Releases 2022 Q2 Results
https://www.accesswire.com/710379/Ur-Energy-Releases-2022-Q2-Results
Tuesday, August 2, 2022 5:25 PM
LITTLETON, CO / ACCESSWIRE / August 2, 2022 / Ur-Energy Inc. (NYSE American:URG) (TSX:URE) (the "Company" or "Ur-Energy") has filed the Company's Form 10-Q for the quarter ended June 30, 2022, with the U.S. Securities and Exchange Commission at www.sec.gov/edgar.shtml and with Canadian securities authorities at www.sedar.com.
Ur-Energy CEO, John Cash said, "2022 has been an exciting year for Ur-Energy thus far with several, recent notable developments. We have maintained a strong cash position as we continue to build-out header house 2-4 and its associated mine production unit, which will ultimately accelerate our ability to ramp up to full production when market conditions warrant. Initial field testing of our patented well installation technology has been successful and will continue into August when we expect to seek final agency approval if testing is completed successfully.
"Finally, I am happy to report that last week we responded to the Department of Energy's solicitation to purchase domestically produced uranium to establish a new U.S. Uranium Reserve. We have held our uranium inventory with the expectation of selling it into the Uranium Reserve and we are optimistic that we will be selected as a successful bidder. We expect to learn the results of the bid process by the end of September."
Financial Results
As of June 30, 2022, we had cash resources consisting of cash and cash equivalents of $43.3 million.
In addition to our cash position, our finished, ready-to-sell, conversion facility inventory value is immediately realizable, if necessary, including to deliver it into the Uranium Reserve Program.
Lost Creek Operations
Lost Creek continues to operate at reduced production levels, which have allowed us to sustain operating cost reductions at Lost Creek, while continuing to conduct preventative maintenance and optimize processes in preparation for ramp up to full production rates.
An advance development program at Lost Creek was implemented in late 2021, with the intent to significantly improve our ability to quickly return to production when ramp-up occurs. Specifically, we commenced a drilling and construction program to complete the development of the fourth header house in MU2 (HH 2-4). The header house, and its associated drilling and wellfield development, is expected to be complete in 2022 and be ready for production. We have ordered all necessary equipment to construct the fifth header house (HH 2-5) and the long-lead items for the sixth header house in MU2. We are nearly finished with a delineation drill program to assist with further wellfield design within MU2. This includes delineation drilling for HHs 2-4 through 2-9. Together with our optimization of plant processes, these wellfield programs will significantly advance our readiness and shorten the time frame to production when ramp-up occurs.
The first two mine units at Lost Creek (MU1 and MU2) have all appropriate permits necessary for a return to operations, including new production resulting from the ongoing MU2 advance development program, when ramp up occurs. We have received Wyoming Uranium Recovery Program ("URP") approval of the amendment to the Lost Creek source material license to include recovery from the LC East Project (HJ and KM horizons) immediately adjacent to the Lost Creek Project and additional HJ horizons at the Lost Creek Project. Currently, we await only approval by the Wyoming Department of Environmental Quality, Land Quality Division ("LQD") of the amendment to the Lost Creek permit to mine adding HJ and KM horizons at LC East and HJ mine units at Lost Creek. We anticipate the LQD review will be complete in 2022.
Research and Development
We are actively engaged in several research and development ("R&D") projects with the overall objective to introduce new methods of cost-effective technology to our Lost Creek Project, and to Shirley Basin when it is constructed. The technologic advances are at varying stages of development, although if analyses continue to be successful, we anticipate that one or more may be implemented in 2022. The development projects include a new material for injection wells and related well installation process, for which a provisional patent has been filed with the U.S. Patent Office. During 2022 Q2, we received WDEQ authorization to proceed with field testing the materials and engineering, and testing has commenced. Although the technology will not be used for production wells, it will be used for injection wells which generally represent approximately 65% of the wells throughout wellfields designed with traditional "five-spot" recovery patterns. In addition to its relatively low cost and availability of materials in the midst of current supply chain challenges, the proposed method, if proven out, is expected to reduce drill rig time on injection wells by about 70% and reduce environmental impacts. It is anticipated that the cost savings from reduced drill rig time will be partially offset by the need for additional in-house labor.
Casper Operations Headquarters
Work continues on the development and construction of our new operations headquarters in Casper, Wyoming which will serve our ongoing and future Wyoming operations as well as mineral exploration and development projects. We are working with our contractor to advance the completed design work for a multipurpose building which will allow for centralized construction activities as well as housing our shared services chemistry laboratory. Construction is expected to commence summer 2022 and be complete in approximately seven to nine months. The additional facility will allow us to construct header houses for Lost Creek and, when built and operational, Shirley Basin. Building, wiring and automating header houses in Casper, as well as other construction activities, will provide numerous safety, environmental and financial advantages to our operations.
Continuing 2022 Guidance
The surge in interest by investors, policy- and lawmakers, and climate-change advocates in all things nuclear continues in 2022. Global recognition of nuclear energy's role in achieving net-zero carbon emissions continues to be more widely accepted. Japan, several member nations of the European Union, and the United Kingdom have all recently made announcements of action plans making nuclear energy an integral part of the climate change solution. The Biden Administration also continues to voice support for clean energy and the nuclear industry.
The DOE uranium reserve has moved forward: in June 2022, Department of Energy National Nuclear Security Administration issued a solicitation for proposal to purchase qualified domestically produced uranium. We have submitted a bid proposal. Although there can be no assurance that the Company will be a successful bidder, our existing inventory has been classified as current, reflecting our intention to participate in the bidding process.
The sustained support for nuclear energy has prompted financial funds and uranium ETFs to purchase uranium inventories thereby supporting the uranium spot price. It has been a year since the Sprott Physical Uranium Trust ("SPUT") began its purchases of uranium. SPUT established the means in the equity markets to raise more than $3 billion for such purchases and now holds more than 57 million pounds U3O8. While others have established the vehicles by which to make substantial purchases of uranium, SPUT remains the most prolific purchaser. The rally in uranium spot prices which began in 2021 continues in 2022, with price per-pound during the quarter remaining in the upper $40s and lower $50s. Moreover, nuclear utilities and other purchasers are back in the market, resulting in some strengthening of term pricing.
Our cash position as of August 1, 2022, is $42.2 million. In addition to our strong cash position, we have nearly 324,000 pounds of finished, U.S. produced U3O8 inventory at the conversion facility, worth approximately $15.7 million at recent spot prices. Our financial position provides us with adequate funds to maintain and enhance operational readiness at Lost Creek, as well as having allowed us to preserve our existing inventory to sell into higher prices.
To heighten our readiness to return to production operations at Lost Creek, we are advancing preparations in the fully permitted MU2 through a drilling and construction program, which is being supplemented by purchases of mid- and long-lead time items for additional development in MU2. When the advance work is complete, Lost Creek operations can increase to full production rates in as little as six months following a "go" decision.
We continue to diligently work to optimize processes and refine production plans, supported by our experienced Lost Creek operational staff, who stand ready to expand Lost Creek wellfield production to an annualized run rate of up to 1.2 million pounds. We are prepared to ramp up and to deliver future Lost Creek production into new sales contracts. A production ramp up will include further development work in both of the first two mine units, followed by the ten additional mining areas as defined in the Lost Creek Technical Report Summary (March 7, 2022). The Lost Creek facility now has the constructed and licensed capacity to process up to 2.2 million pounds of U3O8 per year and sufficient mineral resources to feed the processing plant for many years to come.
We will continue to closely monitor the uranium market, the impact of the uranium reserve program, and other developments in the markets or from Congress, which may positively impact the uranium production industry. Until market conditions signal a decision for the return to production operations, we will focus on maintaining safe and compliant operations while continuing to enhance and leverage our operational readiness.
About Ur-Energy
Ur-Energy is a uranium mining company operating the Lost Creek in-situ recovery uranium facility in south-central Wyoming. We have produced, packaged, and shipped approximately 2.6 million pounds U3O8 from Lost Creek since the commencement of operations. Ur-Energy now has all major permits and authorizations to begin construction at Shirley Basin, the Company's second in situ recovery uranium facility in Wyoming and is in the process of obtaining remaining amendments to Lost Creek authorizations for expansion of Lost Creek. Ur-Energy is engaged in uranium recovery and processing activities, including the acquisition, exploration, development, and operation of uranium mineral properties in the United States. The primary trading market for Ur-Energy's common shares is on the NYSE American under the symbol "URG." Ur-Energy's common shares also trade on the Toronto Stock Exchange under the symbol "URE." Ur-Energy's corporate office is located in Littleton, Colorado and its registered office is located in Ottawa, Ontario.
FOR FURTHER INFORMATION, PLEASE CONTACT
John W. Cash, CEO
866-981-4588, ext. 303
John.Cash@Ur-Energy.com
Cautionary Note Regarding Forward-Looking Information
This release may contain "forward-looking statements" within the meaning of applicable securities laws regarding events or conditions that may occur in the future (e.g., our ability to control production operations at lower levels at Lost Creek in a safe and compliant manner; ability and timing to receive all remaining permits and authorizations related to LC East; the timing to determine future development and construction priorities, including the progression and completion of our advanced development program at Lost Creek, and the impact the program will have on timing for ramp-up; the ability to readily and cost-effectively ramp-up production operations when market and other conditions warrant; the viability of the ongoing R&D efforts described, including the timing and cost to implement and operate one or more of them; the timing, origin and type of additional positive developments in the market that are anticipated; whether the recent events in the uranium markets, including the Sprott Physical Uranium Trust's role in the market, are fundamental changes and will be sustained; whether global support for nuclear energy will continue and grow as currently appears will be the case; our ability and timing to secure term contracts with utilities; and the timing and program details for establishment of the new national uranium reserve and whether our bid proposal will be successful) and are based on current expectations that, while considered reasonable by management at this time, inherently involve a number of significant business, economic and competitive risks, uncertainties and contingencies. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans," "expects," "does not expect," "is expected," "is likely," "estimates," "intends," "anticipates," "does not anticipate," or "believes," or variations of the foregoing, or statements that certain actions, events or results "may," "could," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, are considered to be forward-looking statements. 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 express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from any forward-looking statements include, but are not limited to, capital and other costs varying significantly from estimates; failure to establish estimated resources and reserves; the grade and recovery of ore which is mined varying from estimates; production rates, methods and amounts varying from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; inflation; changes in exchange rates; fluctuations in commodity prices; delays in development and other factors described in the public filings made by the Company at www.sedar.com and www.sec.gov. Readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are based on the beliefs, expectations and opinions of management as of the date hereof and Ur-Energy disclaims any intent or obligation to update them or revise them to reflect any change in circumstances or in management's beliefs, expectations or opinions that occur in the future.
SOURCE: Ur-Energy Inc.
Baselode Continues to Intersect Shallow Uranium Mineralization; Reports Ten New Drill Holes with Elevated Radioactivity
https://www.newswire.ca/news-releases/baselode-continues-to-intersect-shallow-uranium-mineralization-reports-ten-new-drill-holes-with-elevated-radioactivity-864372919.html
Baselode Energy Corp. Aug 02, 2022, 06:00 ET
Elevated radioactivity intersected in 10 new drill holes at ACKIO, including;
1,687 cps over 26.9 m at 90.9 m in hole AK22-069
875 cps over 27.7 m at 106.2 m in hole AK22-066
Nine drill holes intersected elevated radioactivity results within 100 m true vertical depth from surface
Regional exploration drill target intersected pentlandite (nickel) within massive sulphides in hole HK22-007
A total of 22,277.7 metres were completed in 76 drill holes at ACKIO high-grade uranium discovery
TORONTO, Aug. 2, 2022 /CNW/ - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to announce the final sixteen drill hole results from the now-complete 2022 diamond drill 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).
"Our success at ACKIO this year has exceeded our expectations. We've grown ACKIO very quickly with over 22,000 metres having been drilled since February. The final drill holes of the Program continued to intersect near-surface mineralization, expanding the footprint of known mineralization at shallow depths. The discovery of uranium mineralization just 25 metres below surface puts ACKIO into a rare category with near-surface open pit mined Athabasca uranium deposits. Our objective now is to incorporate all the data we have collected this year, including recently flown airborne geophysical surveys, to refine our geological models, to determine mineralized vectors at ACKIO, and to assess the required drill hole density for completing a mineral resource estimate for ACKIO. Once complete we plan to return to ACKIO with an aggressive drill campaign to discover more uranium mineralization," said James Sykes, CEO, President and Director of Baselode.
Drill hole highlights from this news release include;
AK22-066: 875 cps over 27.7 m at 106.2 m which includes
2,222 cps over 2.9 m at 126.55 m and a maximum of 7,900 cps over 0.1 m
AK22-068: 1,104 cps over 9.55 m at 78.25 m which includes
2,292 cps over 2.15 m at 79.65 m and a maximum of 8,000 cps over 0.15 m
AK22-069: 1,687 cps over 26.9 m at 90.9 m which includes
2,614 cps over 0.45 m at 96.0 m and 3,100 cps over 11.3 m at 104.85 m with two maximums of 9,000 cps with each over 0.15 m
AK22-075: multiple intercepts including,
928 cps over 10.0 m at 107.35 m which includes 4,588 cps over 0.6 m at 115.75 m and a maximum of 7,200 cps over 0.2 m
1,128 cps over 7.1 m at 131.6 m which includes 2,086 cps over 0.95 m at 131.8 m and a maximum of 5,800 cps over 0.2 m, and 5,800 cps over 0.25 m at 135.85 m
982 cps over 9.95 m at 142.05 m which includes 3,426 cps over 1.2 m at 145.35 m and a maximum of 8,000 cps over 0.15 m
869 cps over 11.65 m at 155.3 m which includes 4,400 cps over 0.2 m at 160.15 m, 3,774 cps over 0.3 m at 161.45 m, and 2,959 cps over 1.0 m at 165.8 m with a maximum of 5,000 cps over 0.1 m
HK22-007: 7.0 m of variably disseminated (<1%), veined (1 to 15%), and massive (30 to 60%) sulphides including visible pentlandite, a nickel-bearing sulphide, between 25.45 m and 45.6 m drill hole depth hosted within a massive quartz vein.
Since announcing the start of the Program on February 9, 2022 (see Company News Release), Baselode has completed 78 drill holes (AK22-005 to AK22-080, and HK22-007), including one abandoned drill hole, for 22,485.85 m (see Figure 1). Forty-three of seventy-six drill holes at ACKIO 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 (AK22-066 to AK22-080, and HK22-007) are provided in Table 1.
Samples from these reported sixteen 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 and other assay results will be released as they are received after being compiled and thoroughly checked by the technical team.
ACKIO measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 5 separate zones, with mineralization starting as shallow as 25 m beneath the surface and down to approximately 300 m depth beneath the surface with the bulk of mineralization occurring in the upper 200 m. ACKIO remains open to the west, south, and along the Athabasca sandstone unconformity to the east and south.
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 was helicopter-supported to lessen any ground-induced environmental impacts within the project area.
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.
About HK22-007's Massive Sulphide Intersection
On the Program's final hole and in-line with drill demobilization, Baselode tested a distinct geophysical target for sulphide mineralization 9 kilometres southeast of ACKIO on the Hook project. Given the visual observations of massive sulphides, including pentlandite, management will review and refine this new shallow nickel-sulphide target area for follow-up in a subsequent drill program. Assays are pending and will be released accordingly.
FIGURE 1 – Plan map of the ACKIO mineralized surface expressions
TABLE 1 – Drill collar details and continuous composite elevated radioactivity results from drill
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
Uranium Energy Corp Confirms Intention to Acquire UEX Corporation
https://www.newswire.ca/news-releases/uranium-energy-corp-confirms-intention-to-acquire-uex-corporation-807455623.html
Uranium Energy Corp Aug 05, 2022, 17:15 ET
NYSE American: UEC
More than 38% of eligible UEX securities have already been tendered, as of this press release, with an overwhelming 93.7% voting in favour of the UEC transaction.
UEC offer of C$0.49 per UEX share is financially superior to the Acquisition Proposal submitted by Denison.
CORPUS CHRISTI, Texas, Aug. 5, 2022 /CNW/ - Uranium Energy Corp. (NYSE American: UEC) (the "Company" or "UEC") announces that, further to its news release of July 28, 2022, it has advised UEX Corporation ("UEX") that it is submitting a superior offer to the acquisition proposal made by Denison Mines Corp. ("Denison") on July 28, 2022 (the "Denison Proposal") for all of the issued and outstanding shares of UEX ("UEX Shares").
Under the terms of UEC's revised offer (the "Revised UEC Offer"), each holder of UEX Shares will now receive 0.0890 of one common share of UEC (a "UEC Share") for each UEX Share held, implying consideration of approximately C$0.49 per UEX Share based on the closing price of UEX Shares and UEC Shares on the Toronto Stock Exchange and the NYSE American Exchange, respectively, and the spot exchange rate as of August 5, 2022. The Revised UEC Offer also increases the break fee by 7%, which is an increase proportional to the percentage increase in the offered exchange ratio under the Revised UEC Offer.
Amir Adnani, President and CEO, stated: "After careful analysis and consideration, we firmly believe the Revised UEC Offer represents a value-creating opportunity for UEC and UEX shareholders. We remain disciplined with respect to pursuing accretive growth and the Revised UEC Offer strikes a balance of a modest increase in the exchange ratio while doubling UEC's uranium resources1 at only a 14.2% dilution to our outstanding shares. This transaction highlights UEC's sector leading strategy as the fastest growing, pure play, 100% unhedged uranium company and will create the largest, diversified North American focused uranium company. Finally, a true testament to the win-win industrial logic of the transaction is the overwhelming positive support for our deal, as evidenced with over 38% of eligible UEX securities tendered with over 93.7% voted in favor, and the positive share price performance for UEC. With an offer that is superior to the Denison Proposal in all respects, we look forward to completing this transaction following the UEX shareholder vote next week."
If the board of directors of UEX (the "UEX Board") accepts the Revised UEC Offer, UEC expects that the special meeting of UEX securityholders to approve UEC's acquisition of the UEX Shares based on the Revised UEC Offer will continue to be held as currently scheduled on Tuesday August 9, 2022, with an anticipated closing date (subject to court approval and the satisfaction or waiver of closing conditions customary for a transaction of this nature) by mid-August.
The Revised UEC Offer is superior to the Denison Proposal in all respects:
Superior Financial Consideration. The Revised UEC Offer values UEX at C$0.49 per UEX Share, a 7% improvement over the original exchange ratio and higher financial consideration than the Denison Proposal based on closing prices of the shares and the spot exchange rate as at August 5, 2022. The Revised UEC Offer reflects a premium of 72% over the unaffected UEX Share price on June 10, 2022 (being the last trading day prior to the announcement of UEC's proposed acquisition of UEX).
Stronger Deal Certainty. As part of its Revised UEC Offer submission to the UEX Board, UEC has provided UEX with a simple amending agreement to the original arrangement agreement dated June 13, 2022, as amended June 23, 2022, among UEX, UEC and UEC 2022 Acquisition Corp. (the "Arrangement Agreement") to reflect the Revised UEC Offer. By its own admission, Denison has characterized its proposal as "non-binding" and "remains subject to the entering into of a definitive agreement"2. Upon acceptance of the Revised UEC Offer by UEX, UEC will be firmly bound to complete the Revised UEC Offer as soon as practicable.
Quicker Path to Completion. UEX securityholders are scheduled to vote on UEC's proposed acquisition of the UEX Shares based on the Revised UEC Offer on Tuesday August 9, 2022, with closing of the transaction (subject to court approval and the satisfaction or waiver of closing conditions customary for a transaction of this nature) anticipated within days of the UEX securityholder vote. UEC understands that more than 38% of eligible UEX securities have already tendered, as of this press release, with an overwhelming 93.7% voting in favour of the UEC transaction.
Denison Proposal is Financially Inferior, Uncertain and Remains Subject to the Negotiation of a Definitive Agreement. The Denison Proposal remains subject to, among other things, the negotiation of a definitive agreement, the preparation of an information circular providing disclosure on the proposed transaction, court and regulatory approvals, and the calling of a new securityholders meeting to approve the transaction. As such, a closing of any deal with Denison is likely to take UEX shareholders well into Q4 2022.
Larger Trading Liquidity. UEC benefits from a strong institutional and retail following which has resulted in trading liquidity that is more than 50%3 greater than that of Denison. UEX shareholders, upon exchange of their UEX Shares for UEC Shares based on the Revised UEC Offer, will have a deeper pool to value and trade their securities.
UEC Maintains its Strong Balance Sheet With Over $180 million of Cash and Liquid Assets, with No Debt.
The Opportunity to Create the Largest Diversified North American Focused Uranium Company. UEX shareholders have an opportunity to be part of UEC's fully permitted, production-ready assets in the U.S., which is the largest market in the world for uranium demand. UEC offers superior scale, as exhibited by its larger capital markets presence, and a path for immediate re-rating potential following a rapid timeline to closing of the transaction.
It is the view of UEC, based on advice provided by its financial and legal advisors, that the superior proposal notice delivered by UEX to UEC on July 28, 2022 was deficient in several respects. These deficiencies have been communicated to UEX over the past few days, and have not, in our view, been rectified. While we have elected to increase the consideration offered in our proposed transaction, in making the Revised UEC Offer we advised UEX we were reserving all rights to require UEX to comply with the right to match provisions in the Arrangement Agreement, including, among other things, that the right to match period has not yet commenced.
The Revised UEC Offer expires at 7:00 p.m. (Vancouver time) on the date of this press release, coinciding with the termination of the right to match period under the Arrangement Agreement. Upon a determination by the UEX Board that the Revised UEC Offer is at least equivalent to the Denison Proposal, UEX is required to enter into an amending agreement to the Arrangement Agreement to reflect the Revised UEC Offer.
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.
Twitter: @UraniumEnergy
Stock Exchange Information:
NYSE American: UEC
Frankfurt Stock Exchange Symbol: U6Z
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 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, market and other conditions, 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. 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. Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company's ability to control or predict. 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 press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.
______________________________________________________________
1 Subject to the completion of technical report summaries by UEC following closing of the proposed acquisition of UEX.
2 Denison press release dated July 29, 2022.
3 Based on average daily traded volume over the last 12 months.
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
Denison Achieves Key Milestone with Completion of Metallurgical Test Work to Define Phoenix Process Plant Components and Confirmation of Ability to Produce Yellowcake
https://www.newswire.ca/news-releases/denison-achieves-key-milestone-with-completion-of-metallurgical-test-work-to-define-phoenix-process-plant-components-and-confirmation-of-ability-to-produce-yellowcake-839309879.html
Denison Mines Corp. Aug 03, 2022, 06:30 ET
TORONTO, Aug. 3, 2022 /CNW/ - Denison Mines Corp. ("Denison" or the "Company") (TSX: DML) (NYSE American: DNN) is pleased to announce the substantial completion of extensive metallurgical test work to define the mechanical components for the planned Phoenix processing plant (the "Phoenix Plant"), as part of the Feasibility Study ("FS") underway for the Company's 95% owned Wheeler River project ("Wheeler River" or the "Project"). In addition, the metallurgical program has confirmed the ability to produce a yellowcake product that meets industry standard ASTM C967-13 specifications (see below for details).
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Metallurgical test work intended to define the mechanical components for the Phoenix Plant was initiated in April 2021 at the Saskatchewan Research Council ("SRC") laboratories in Saskatoon. The test work consisted of bench-scale lab tests using uranium bearing solution ("UBS") that was previously produced from lab-scale leaching of core samples from the Phoenix deposit. These samples are intended to be representative of what is expected to be recovered from the In-Situ Recovery ("ISR") wellfield planned for the Phoenix deposit (see news release dated August 4, 2021).
Kevin Himbeault, Denison's Vice President of Plant Operations & Regulatory Affairs, commented, "The comprehensive test work undertaken by the Denison team has demonstrated our ability to produce (i) a saleable uranium product utilizing a simplified chemical precipitation process and (ii) high-quality effluent for final discharge to the environment. This is a significant milestone from which we can continue to optimize the designs for the Phoenix Plant and further our de-risking of the overall Project as part of the FS."
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.
The results of the metallurgical test work are highlighted by the following:
The UBS from the high-grade Phoenix deposit was processed using simple chemical precipitation stages to remove certain elements prior to the yellowcake precipitation circuit.
A yellowcake product that meets uranium industry standard ASTM C967-13 specifications (see below for details) has been precipitated in the lab.
A high-quality effluent was obtained using typical industrial water treatment processes through pH control and precipitation.
Additionally, the metallurgical test program has provided several important inputs for the FS processes underway in relation to the planned Phoenix Plant and ISR operation, including confirmation of the following:
The appropriateness of mechanical components for the Phoenix Plant similar to those outlined in the Pre-Feasibility Study ("PFS").
The suitability for the Phoenix Plant to process UBS head grades averaging 15 g/L uranium.
Metallurgical recovery rates of over 95% from processing of UBS to yellowcake.
The ability to achieve industry standards for yellowcake through drying at 110°C, indicating calcination is not required for the planned Phoenix Plant.
The ability to produce a yellowcake product that meets industry standards without the use of ammonia and the specialized and additional processes typically associated therewith.
The ability to meet final plant effluent quality discharge criteria for protection of the environment, which is expected to be outlined in the draft Environmental Impact Statement ("EIS") planned to be submitted as part of the Environmental Assessment ("EA") for the Project.
Additionally, extensive test work has been completed in defining any potential elements of concern, required process components, reagents, and general operating parameters necessary to mitigate processing risks and ensure the production of a yellowcake product that meets industry standards. This has allowed for the significant progression of the plant and process designs for the FS.
Additional targeted metallurgical test work continues in the following areas:
Specialized test work to potentially further improve the effluent treatment process, optimize reagent usage and enhance overall environmental protection.
Lab scale leaching of intact cores continues, with additional tests to further refine the production recovery curve for the Phoenix ISR operation, which will inform ISR simulation modelling for the FS and will provide additional results for future wellfield and ISR plant design optimization.
Lab scale leaching and remediation tests of crushed core, representing different hydrogeological units within the Phoenix deposit, to determine achievable recovery, leaching rates, and remediation plans for the different units.
The laboratory work for the 2022 Metallurgical Program to support the feasibility study is being carried out at the SRC Mineral Processing and Geoanalytical Laboratories in Saskatoon, under the supervision of Wood Canada Limited (see news release dated September 22, 2021).
ASTM C 967-13 Standard
ASTM C967-13 is a set of quality specifications applied to uranium ore concentrate that are generally recognized in the uranium industry for meeting requirements for refining and conversion to uranium hexafluoride and, therefore, a saleable product. Parties may, however, agree to less or more stringent specifications of product quality on a case by case basis.
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 33.8118%) 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
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: scope, objectives and interpretations of the FS process for the proposed ISR operation for the Phoenix deposit, including metallurgical testing programs described herein and the interpretation of the results therefrom; the scope and design, and related test work, with respect to plans and process designs for the FS; the definition of a saleable product; 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 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 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.
Cautionary Note to United States Investors Concerning Estimates of Mineral Resources and Mineral Reserves: This news release may use the terms 'measured', 'indicated' and 'inferred' mineral resources. United States investors are advised that such terms have been prepared in accordance with the definition standards on mineral reserves of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in Canadian National Instrument 43-101 Mineral Disclosure Standards ("NI 43-101") and are recognized and required by Canadian regulations. Inferred mineral resources have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable. United States investors are also cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves.
Effective February 2019, the United States Securities and Exchange Commission ("SEC") adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the Exchange Act and as a result, the SEC now recognizes estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". In addition, the SEC has amended its definitions of "proven mineral reserves" and "probable mineral reserves" to be "substantially similar" to the corresponding definitions under the CIM Standards, as required under NI 43-101. However, information regarding mineral resources or mineral reserves in Denison's disclosure may not be comparable to similar information made public by United States companies.
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
ValOre’s Second Core Rig Commences Drilling, with First Drill Intercepting Multiple Zones of Shallow Radioactivity at Dipole Uranium Target, Angilak Property
https://ca.finance.yahoo.com/news/valore-second-core-rig-commences-024500090.html
ValOre Metals Corporation
Mon, August 1, 2022 at 7:45 p.m.·6 min read
VANCOUVER, British Columbia, Aug. 01, 2022 (GLOBE NEWSWIRE) -- ValOre Metals Corp. (“ValOre”; TSX-V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today provided an update on the 4,500 metre (“m”) core program at ValOre’s 100% owned 59,483-hectare Angilak Property Uranium Project (“Angilak”), located in Nunavut Territory, Canada.
“Two diamond drill rigs are now drilling at Dipole as part of a 4,500-metre program to test the Dipole and J4 West uranium targets,” stated ValOre’s VP of Exploration, Colin Smith. “The first rig has intercepted multiple shallow zones of strong radioactivity, including 12,000 CPS at 56 m vertical depth, and 9,361 CPS at 98 m vertical depth in drill hole 22-DP-002.”
Highlights of First Two 2022 Core Holes:
Drill hole 22-DP-001: intersected a near-surface zone of radioactivity (4,000 counts per second (“CPS”) from 49.82 to 50.20 m) but was subsequently lost at 78 m hole depth. The hole terminated above the anticipated depth of the lower zone;
Drill hole 22-DP-002: drilled to target depth of 178 m from the same pad (tilted to a -75° dip from a -70°), and intersected 6 zones of radioactivity, including highlights of:
12,000 CPS from 57.80 to 58.11 m
9,361 CPS from 102.20 to 102.41 m;
Zones of radioactivity correlate well with mineralized intercepts in the up-dip 2022 Reverse Circulation (“RC”) drill holes and are characterized by intensely hematized and brecciated graphitic tuffs, hosted within a broader package of foliated basalt.
*Reported core interval lengths are estimated to represent 70% true width
To review 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.
Energy Fuels Announces Q2-2022 Results, Including Continued Robust Balance Sheet and Market-Leading U.S. Uranium & Rare Earth Positions
https://www.newswire.ca/news-releases/energy-fuels-announces-q2-2022-results-including-continued-robust-balance-sheet-and-market-leading-u-s-uranium-amp-rare-earth-positions-801393788.html
Energy Fuels Inc. Aug 05, 2022, 17:30 ET
Webcast on August 9, 2022
LAKEWOOD, Colo., Aug. 5, 2022 /CNW/ - Energy Fuels Inc. (NYSE: UUUU) (TSX: EFR
Deep Yellow and Vimy merger implemented
https://www.miningweekly.com/article/deep-yellow-and-vimy-merger-implemented-2022-08-05
5th August 2022
By: Esmarie Iannucci
Creamer Media Senior Deputy Editor: Australasia
PERTH (miningweekly.com) – The merger agreement between uranium developer Deep Yellow Resources and Vimy Resources has been implemented, creating a global uranium player.
The two companies earlier this year announced the merger agreement under which Deep Yellow would acquire all of the shares in ASX-listed Vimy, with Vimy shareholders to receive 0.294 Deep Yellow shares for every Vimy share held.
The transaction placed Deep Yellow in a unique position as one of the few uranium companies globally with multi-asset exposure and development optionality to deliver its stated incentive-driven production target post-2025, given the necessary incentive uranium price. The completion of the merger has also consolidated a world-class exploration portfolio across two Tier-1 mining jurisdictions, particularly the highly prospective Alligator project, able to support the company’s ambitious strategy of establishing more than 10-million pounds a year of production.
Deep Yellow is now the only ASX-listed company with two advanced, near-development-ready uranium operations. The Tumas project, in Namibia, will complete its definitive feasibility study (DFS) by end 2022 with potential to produce three-million pounds a year of uranium oxide (U3O8). The Mulga Rock project, in Western Australia, has completed a DFS and the company plans to revise and update this study, to include base metal recovery optimisation work, detailed resource definition drilling work and mining studies with potential to produce 3.5-million pounds a year of U3O8.
With production from both these mines, Deep Yellow has the potential to become the largest pure-play uranium producer on the ASX.
“Completion of the merger between Deep Yellow and Vimy represents the combination of two world-class, advanced uranium projects and an exciting exploration portfolio, able to leverage Deep Yellow’s plans to become a leading, reliable, long-term uranium supplier into a growing market,” said Deep Yellow MD and CEO John Borshoff.
“Our consistent efforts in progressing and executing sector consolidation are starting to pay dividends, as the Vimy merger is showing. This emerging, geographically diversified platform we are developing not only satisfies Deep Yellow’s long-term growth strategy but, importantly, has the potential to create significant shareholder value. This is highlighted by the major competitive advantage we have now attained by being one of the few uranium companies globally with geographically diverse and multi-asset uranium production potential.
“This is a significant, value-creating transaction for the expanded Deep Yellow shareholder base and offers exciting growth opportunities on many fronts. Deep Yellow now has one of the largest uranium resource inventories of junior uranium mining companies globally and an experienced management and technical team who know how to successfully develop and operate uranium projects. Importantly, we are focused on ensuring our projects are developed in a timely manner for when demand and pricing conditions are suitable.
“We will continue to focus on delivering growth and value inorganically through targeted mergers and acquisitions. The uranium industry is currently ‘out-of-balance’ with too many single asset companies lacking sustainable long-term production opportunity, the necessary technical skills and funding to take their projects into development. The industry requires the consolidation that is essential in this sector to build the necessary scale and knowledge required to attract both funding for development and offer diversified, long-term production capability to better satisfy customer needs.”
Applications have been made to remove Vimy from the ASX and OTCQB lists from August 5.
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