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Madison Metals Returns 2.78% U3O8 Over 4 Metres From Trench Sampling at Khan Project in Namibia, Africa
https://ca.finance.yahoo.com/news/madison-metals-returns-2-78-114900796.html
Madison Metals Inc.
Mon, March 4, 2024 at 3:49 a.m. PST
Denison Reports Impressive Financial and Operational Results for 2023 Including Significant Increase in Phoenix ISR Project Economics and a $134 Million Gain on Physical Uranium Holdings
https://www.prnewswire.com/news-releases/denison-reports-impressive-financial-and-operational-results-for-2023-including-significant-increase-in-phoenix-isr-project-economics-and-a-134-million-gain-on-physical-uranium-holdings-302076604.html
Denison Mines Corp. 29 Feb, 2024, 20:11 ET
TORONTO, Feb. 29, 2024 /PRNewswire/ - Denison Mines Corp. ('Denison' or the 'Company') (TSX: DML) (NYSE American: DNN)
Sassy To Acquire Advanced Uranium Properties in Utah and Colorado
https://www.accesswire.com/838058/sassy-to-acquire-advanced-uranium-properties-in-utah-and-colorado
Friday, 01 March 2024 08:00 AM
VANCOUVER, BC / ACCESSWIRE / March 1, 2024 / Sassy Gold Corp. ("Sassy" or the "Company") (CSE:SASY) (OTCQB:SSYRF) (FSE:4E7)
Nexus Uranium Announces Acquisition of Extensive Historical Data Set for Wray Mesa
https://www.newsfilecorp.com/release/199827
February 29, 2024 6:00 AM EST | Source: Nexus Uranium Corp.
Vancouver, British Columbia--(Newsfile Corp. - February 29, 2024) - Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) (FSE: 3H1) (the "Company" or "Nexus") is pleased to announce it has acquired a significant historical data set covering its Wray Mesa uranium project in Utah, USA. The database includes results from extensive historical exploration by Atlas Minerals in the 1970's and 1980's covering the Wray Mesa project and surrounding area. The acquisition of the database was facilitated by the project optionor, Basin Uranium Corp., with the acquisition and analysis costs counting towards the Company's exploration expenditure requirements under the option agreement for the project.
"The acquisition of this extensive historical database not only accelerates our understanding and exploration model for the project, but is also expected to allow us to table a NI 43-101 resource estimate," commented Jeremy Poirier, CEO of Nexus Uranium Corp. "Our team is currently compiling and integrating the historical results into our exploration plans for the project and look to provide a summary of the drilling and historical resource estimate once verified."
The Wray Mesa project is comprised of 6,282 acres and has seen extensive historical exploration dating back to the 1980's with over 500 holes drilled outlining four principal mineralized zones: Dylan, Ajax, Whiskey and Carlin. Mineralization on the property occurs at depths of 500 to 750 feet with the drill-defined mineralization ranging from 25 to 75 feet. 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 Upper Salt Wash Member of the Morrison Formation.
The Company also announces that it has renewed its arm's length marketing agreement with Sideways Frequency LLC ("SFLLC"), originally dated December 18, 2023. The renewed agreement (the "Marketing Agreement") is effective March 4th, 2024 and will continue until April 5th, 2024. As consideration for SFLLC's marketing and investor awareness services (the "Services"), the Company has agreed to pay SFLLC a fee of $150,000 (USD) for a term of one month (the "Term"). The Company may elect to renew the agreement at any point during the Term.
The Services will include, but are not limited to, email campaigns, native advertising, display ads, lead generation, creation of content, strategic planning, digital advertisement placement, and overseeing progress and results of digital campaigns.
Consideration offered to SFLLC does not include any securities of the Company. Aside from previous engagements, the Company does not have any relationship with SFLLC and Mr. Wesley De Souza, CEO of SFLLC.
About Sideways Frequency LLC
SFLLC is a limited liability company existing under the laws of the State of Utah. SFLLC is in the business of preparing, from publicly available information, advertisements consisting of profiles overviewing publicly traded companies, running marketing campaigns including pay-per-click (PPC) marketing, email marketing, native advertising, and display ads, and maintaining or updating clients' websites as the client sees fit. SFLLC's business address is 1389 Center Drive, Suite 200, Park City, Utah, 84098. SFLLC can be contacted by email at info@sidewaysfrequency.com.
About Nexus Uranium Corp.
Nexus Uranium Corp. is a multi-commodity development company focused on advancing the Wray Mesa uranium-vanadium project in Utah in addition to its precious metals portfolio that includes the development-stage Independence mine located adjacent to Nevada Gold Mine's Phoenix-Fortitude mine in Nevada, the Napoleon gold project in British Columbia, and a package of gold claims in the Yukon. The Wray Mesa project covers 6,282 acres within the heart of the prolific Uruvan mining district in Utah and has extensive historical drilling of over 500 holes defining multiple mineralized zones. The Independence project hosts an M&I (measured and indicated) resource of 334,300 ounces of gold (28M tonnes at 0.41 g/t gold) and an inferred resource of 847,000 ounces (9M tonnes at 3.22 g/t gold) of gold with a substantial silver credit. A 2021 Preliminary Economic Assessment (PEA) outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of $1,078 (U.S.) per ounce of gold. The Napoleon project comprises over 1,000 hectares and prospective for multiple forms of gold mineralization, with exploration in the area dating back to the 1970s with the discovery of high-grade gold. The Yukon gold projects are comprised of almost 8,000 hectares of quartz claims prospective for high-grade gold mineralization with historical grab sampling highlights of 144 g/t gold.
Nexus Uranium cautions investors the preliminary economic assessment on the Independence project is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. The Company further cautions investors mineral resources which are not mineral reserves do not have demonstrated economic viability and further cautions investors the quantity and grade of the reported inferred mineral resources are uncertain in nature ?and there has been insufficient exploration to define these inferred mineral resources as ?indicated mineral resources.
The Company cautions investors it has yet to verify the historical data and further cautions investors grab samples are selective by nature and are unlikely to represent average grades of sampling on the entire property.
--
FOR FURTHER INFORMATION PLEASE CONTACT:
Jeremy Poirier
Chief Executive Officer
info@nexusuranium.com
This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations of management made in light of management's experience and perception of historical trends, current conditions and expected future developments. Forward-looking information is subject to a number of risks and uncertainties and, as such, forward-looking statements are not guarantees of future performance of the Company. Forward-looking information in this news release includes, without limitation, statements regarding the publication of a mineral resource estimate for the Wray Mesa project and the future exploration and development potential of the Wray Mesa project. There are numerous risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking information in this news release, including without limitation, inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties, stock market volatility and capital market fluctuations, general market and industry conditions, as well as those risk factors discussed in the Company's most recently filed management's discussion & analysis. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.
SOURCE: Nexus Uranium Corp.
GMV Minerals Defines Initial Drill Program to Test for Uranium and Lithium at the Daisy Creek Project in North Central Nevada
https://www.newsfilecorp.com/release/199769
February 29, 2024 7:00 AM EST | Source: GMV Minerals Inc.
Vancouver, British Columbia--(Newsfile Corp. - February 29, 2024) - GMV Minerals Inc. (TSXV: GMV) (OTCQB: GMVMF) (the "Company" or "GMV") is pleased to announce that further to receipt of additional geophysical depth analysis of its helicopter-borne high resolution magnetic and radiometric survey, the Company's exploration team has proposed an initial drill program of six holes at the Daisy Creek property. The program is designed to test the Daisy Property for prospective Lithium Claystone (LC) mineralization. The property was explored in the past because of the prospectivity for uranium with lithium being identified serendipitously. Drill targets have been established based upon recent sampling, historical data, and the high-resolution aeromagnetic survey completed by Precision GeoSurveys in late 2023.
The aeromagnetic data was inverted to determine depth of the caldera basement. The flatter-lying Tertiary tuffs and claystones on the property are deposited into this caldera. Later basaltic intrusions and extrusions complicate portions of the basin, but in general a gently dipping margin appears to steepen as the slope approaches the center of the basin. ** Two historic drill holes are reported to have intercepted approximately 11 meters of very elevated lithium (up to 20,000 ppm Li) encountered at depths from surface of less than 125m.
The image (see below) shows the Daisy Property outlined in purple over top of a satellite image that has been overlain with the Nevada Bureau of Mines 1:500,000 Geological Map {Stewart and Carlson (1978)}. The Basin-fill tuff and claystone unit is shown in pale yellow and is the target horizon. The Daisy Caldera is defined by the rhyolite breccia shown in a pale flesh tone. Portions of the basin that are deeper than 200 m are shown in blue. The proposed drill holes target the basin fill at depths <200 m in locations where evidence of past drilling has likely occurred. This will maximize GMV's opportunity to replicate the previous drill locations and test the fullest thickness of the prospective claystone horizon.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5465/199769_cfbde6e484451ac1_002full.jpg
**This does not meet NI 43-101 guidelines for disclosure and are presented for background purposes only.
Moving forward the Company will file a Notice of Intent with the Bureau of Land Management and expects to move a rig onto the property as soon as spring weather permits.
Ian Klassen, President commented, "Our understanding of the historical work completed by Phillips Uranium has confirmed the setting of this caldera with favorable host-rocks. Phillips had been testing the uranium potential predicated on elevated gamma-ray spectrometer in an interpreted hydrothermal setting on the margin of the caldera. The historic underground Daisy Creek uranium workings are located on our property. We understand that the elevated lithium values they are reported to have obtained were from the initial shallow drill holes. We have improved our understanding of the basin configuration to where we can optimize our ability to reproduce the drill holes that discovered lithium here while testing possible uranium targets. The setting, analogous to that of the McDermitt caldera leads us to believe that the target warrants drill testing."
Dr. D.R. Webb, Ph.D., P.Geo., P.Eng. is the Q.P. for this release within the meaning of NI 43-101 and has reviewed the technical content of this release and has approved its content.
About GMV Minerals Inc.
GMV Minerals Inc. is a publicly traded exploration company focused on developing precious metal assets in Arizona. GMV, through its 100% owned subsidiary, has a 100% interest in a Mining Property Lease commonly referred to as the Mexican Hat Property, located in Cochise County, Arizona, USA. The project was initially explored by Placer Dome (USA) in the late 1980's to early 1990's. GMV is focused on developing the asset and realizing the full mineral potential of the property through near term gold production. The Company's NI 43-101 resource estimate (Inferred) is 36,733,000 tonnes grading 0.58 g/t gold at a 0.2 g/t cut-off, containing 688,000 ounces of gold.
ON BEHALF OF THE BOARD OF DIRECTORS
________________________________________
Ian Klassen, President
For further information please contact:
GMV Minerals Inc.
Ian Klassen
Tel: (604) 899-0106
Email: info@gmvminerals.com
www.gmvminerals.com
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: GMV Minerals Inc.
Stallion Uranium Announces Additional Uranium Property Staking, Further Expanding Largest Exploration Land Package in Southwestern Athabasca Basin
https://ca.finance.yahoo.com/news/stallion-uranium-announces-additional-uranium-113000019.html
Stallion Uranium Corp.
Wed, February 28, 2024 at 3:30 a.m. PST·4 min read
STLNF
-0.33%
SASKF
-0.66%
Figure 1
Stallion Uranium’s New Mineral Claims
VANCOUVER, British Columbia, Feb. 28, 2024 (GLOBE NEWSWIRE) -- Stallion Uranium Corp. (the “Company” or “Stallion”) (TSX-V: STUD; OTCQB: STLNF; FSE: HM40) is pleased to announce that it has acquired by low-cost staking nine new prospective uranium exploration dispositions (or “claims”) in northern Saskatchewan. This increases Stallion’s total land package in the Southwestern Basin to 321,875 hectares (795,353 acres). The nine dispositions add an additional 19,361 hectares to Stallion’s 100% owned holdings in the Athabasca Basin.
“The recently completed geophysical survey over our Atha Energy JV project uncovered a significant number of previously unknown conductive corridors. Stallion, utilizing that data, was able to stake the extensions of high priority target areas and create a new high potential uranium project,” stated Drew Zimmerman, CEO. “The total land package we have been able to put together is unrivalled in the Southwestern Basin, not only in size, but also in the number of highly prospective target areas discovered. We believe that by deploying the latest exploration technologies to prioritize these targets, Stallion continues to significantly increase our probability of discovering the next significant uranium deposit needed to fuel a cleaner future.”
Figure 1 - Stallion Uranium’s New Mineral Claims
Figure 1 – Stallion Uranium’s New Mineral Claims
Darren Slugoski, Vice President Exploration, Canada, stated, “The new claims were strategically staked to cover anomalous geophysical signatures that look to extend from the adjacent ground held by Stallion’s JV project. These geophysical signatures are known to be associated with uranium mineralization in the basin, and Stallion was able to cover additional length of the high potential conductive corridors. Further expanding the number of tier one target areas under the company’s control.”
New Mineral Dispositions
Stallion staked an additional 19,361 hectares, of which 18,470 ha are contiguous to the company’s existing projects in the Southwestern Athabasca Basin. Another 891 ha are proximal to the companies Coffer project. These additional claims continue to increase Stallion’s land position in the area and cover more areas the company views as highly prospective. The addition of these claims expands the exploration land package directly east of the world class Arrow uranium deposit owned by NexGen Energy Ltd. See Figure 1 for the updated property mineral claim map location.
The newly staked claims, when combined with existing claims staked and announced January 17, 2024, allow for the creation of the 100% owned Upper Mirror River Project. The new project is 31,645 ha and covers extensions of target areas found from the recent Mobile MT survey completed over the company’s Atha Energy JV project announced on February 21, 2024. The new project hasn’t had any advanced exploration and or even an effective regional geophysical survey. The Company believes it has the potential to host several kilometre-scale under-explored prospective zones as seen in the recently received data. Stallion will look to follow its roadmap to discovery by implementing state of the art geophysical surveys to further advance the most compelling target areas. The exploration will focus on areas with magnetic lows and conductive geophysical signatures which have been known to correlate with uranium mineralization.
The Company further announces that on February 26, 2024, it extended its engagement with Volans Capital Corp. (“Volans”) to provided digital marketing and advertising services for an additional term of six (6) months commencing on February 16, 2024, in consideration of payments totalling an aggregate of USD $400,000. Further to the Company’s news release dated November 22, 2023, the Company and Volans completed a prior three-month term for USD $400,000.
Additionally, the Company has engaged Avec Creations Ltd. TBA The Next Big Rush (“Avec”) of London, England, to provide marketing services including CEO interviews and recommendations on Avec’s YouTube Channel, tweets and retweets on Avec’s Twitter account, notable press releases featured on Avec’s newsletters and social media outreach to other channels, for a term of six (6) months commencing on February 26, 2024, in consideration of an up-front payment of CAD $35,000.
Volans and Avec are arm’s-length to the Company. Neither Volans nor Avec currently own any interest, directly or indirectly, in the Company or its securities nor any right or intent to acquire such an interest. The agreements with Volans and Avec remain subject to approval of the TSX Venture Exchange.
Qualifying Statement:
The foregoing scientific and technical disclosures for Stallion Uranium have been reviewed by Darren Slugoski, P.Geo., VP Exploration, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Mr. Slugoski is a Qualified Person as defined by National Instrument 43-101.
About Stallion Uranium
Stallion Uranium is working to Fuel the Future with Uranium through the exploration of over 3,000 sq/km in the Athabasca Basin, home to the largest high-grade uranium deposits in the world. The company, together with JV partner Atha Energy (CSE: SASK), holds the largest contiguous project in the Southwestern Athabasca Basin adjacent to multiple high-grade discovery zones.
Our leadership and advisory teams are comprised of uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties.
Stallion offers optionality with two gold projects in Idaho and Nevada that neighbour world class gold deposits offering exposure to upside potential from district advancement with limited capital expenditures.
For more information visit stallionuranium.com or contact:
Drew Zimmerman
Chief Executive Officer
778-686-0973
info@stallionuranium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”) that relate to the Company’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this material change report should not be unduly relied upon. These statements speak only as of the date they are made.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement.
A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/3460fe3a-1d61-43f2-96f1-143622027b31
North Shore Uranium Provides Falcon Property Drill Program Update
https://www.accesswire.com/837177/north-shore-uranium-provides-falcon-property-drill-program-update
Wednesday, 28 February 2024 07:00 AM
VANCOUVER, BC / ACCESSWIRE / February 28, 2024 / North Shore Uranium Ltd. (TSXV:NSU) ("North Shore" or the "Company") is pleased to provide an update on the upcoming drill program at its 55,699 hectare Falcon Property ("Falcon" or the "Property") located at the eastern margin of the Athabasca Basin in northern Saskatchewan. The Company has further refined its targeting criteria and the drill program is set to commence in mid-March.
As reported by the Company on December 19, 2023, Falcon is a highly prospective uranium exploration property with a limited exploration history in a part of the Athabasca Basin region that is seeing increased exploration activity and recent discoveries.Reinterpretation of electromagnetic ("EM") data complemented by geophysical data acquired in 2022 has allowed the Company to identify high priority uranium targets in areas where there has been no previous drilling.
North Shore plans to drill test up to three targets along a strong, dominantly northeast-trending EM conductor system at the southern end of the property. TerraLogic Exploration Inc. ("TerraLogic"), has been selected to manage the drill program and field preparations are underway. Condor North Consulting ULC ("Condor") is assisting with geophysical interpretation. Working with TerraLogic and Condor, the Company is in the final stages of ranking and prioritizing drill targets for the March program. Over 20 potential drill targets have been identified along the northeast-trending EM conductor trend. Drill collar locations are being refined for the three lead candidates for drilling (Figures 1-3). Factors used to prioritize targets for drilling and establish drill collar locations include the following:
Strength and character of the EM conductor
EM conductor plate models generated using EMIT Maxwell software
Evaluation of airborne gravity gradient and radiometric data acquired in 2022
The presence of potential basement-hosted structures
Interpreted bedrock geology
Ground conditions
Mr. Brooke Clements, President and CEO of North Shore stated: "We are excited to be preparing to commence our first drill program where we aim to test priority targets on the Falcon Property. This is only the beginning of our exploration plans at Falcon as we have identified multiple high-quality target zones spread across the Property that require evaluation and drilling. Since January, the uranium spot price has consistently been around US$100/lb. for the first time since 2007, focusing more attention on the uranium exploration sector and new discoveries. Saskatchewan's Athabasca Basin is a tier-one jurisdiction for discovering new mineable high-grade uranium deposits."
Red Cloud's Pre-PDAC Mining Showcase and PDAC Convention, Toronto
The Company's President and CEO, Brooke Clements will be presenting at the Red Cloud Pre-PDAC Mining Showcase on Friday, March 1 at 2:20pm Eastern Standard Time at the Sheraton Centre Toronto Hotel (https://www.redcloudfs.com/prepdac2024/). He will also be attending the annual PDAC Convention at the Metro Toronto Convention Centre from March 3-6 (https://www.pdac.ca/convention).
Figure 1: Falcon Property location map. Select uranium occurrences from Saskatchewan database, EM conductor locations from Saskatchewan database and North Shore interpretation.
Figure 2. Electromagnetics with priority targets, processing by Condor on 2006 and 2007 airborne data.
Figure 3. Magnetics (TMI-RTP) with priority targets, processing by Condor using 2006 and 2007 airborne data.
Falcon Property Background Information
Falcon consists of 15 mineral claims; four of the claims comprising 12,791 hectares are 100 percent-owned by the Company and the remaining 11 claims totaling 42,908 hectares are subject to an option agreement with Skyharbour Resources Ltd. (Figure 1). Under the terms of the option agreement, North Shore can earn an 80% interest in the 11 claims and has the option to purchase the remaining 20% interest after it has earned its initial 80% interest.
Falcon is located at the eastern edge of the Athabasca Basin and approximately 35 kilometres east of the active Key Lake uranium mill and former mine. Uranium ore from the McCarthur River Mine is processed at Key Lake. The new uranium discovery potential at Falcon is significant including shallow Athabasca-style basement-hosted mineralization and pegmatite-hosted mineralization similar to that discovered at the Fraser Lakes Zone B uranium resource located just three kilometres south of the Property.
About North Shore Uranium
The near-term business objectives of North Shore Uranium are to become a major force in exploration for economic uranium deposits at the eastern margin of Saskatchewan's Athabasca Basin, a tier-one jurisdiction for discovering new mineable high-grade uranium deposits. The Company will work to achieve those objectives by conducting exploration programs on its two properties, Falcon and the West Bear Property, located 90 kilometres northeast of Falcon, and by evaluating opportunities to increase its portfolio of properties in the region.
Qualified Person
Mr. Brooke Clements, MSc, P.Geol., a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects and the President and CEO of North Shore, has reviewed and approved the scientific and technical disclosure in this press release.
ON BEHALF OF THE BOARD
Brooke Clements,
President, Chief Executive Officer and Director
For further information:
Please contact: Brooke Clements, President, Chief Executive Officer and Director
Telephone: 604.536.2711
Email: b.clements@northshoreuranium.com
www.northshoreuranium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect","project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the Company's current plans and business objectives. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Forward-looking statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to: assumptions regarding future uranium prices, debt and equity financing market conditions, receipt of regulatory approvals, and other factors. The cautionary statements qualify all forward-looking statements attributable to the Company and persons acting on its behalf. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward- looking statement, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Accordingly, undue reliance should not be put on such statements due to the inherent uncertainty therein.
SOURCE: North Shore Uranium Ltd.
Trinex Minerals/ ALX Resources Announce Option Earn-In Transaction and 2024 Winter Drilling Program for the Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan
https://www.newsfilecorp.com/release/199422
February 28, 2024 7:30 AM EST | Source: ALX Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - February 28, 2024) - ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF)
ATHA Energy Announces Latitude Uranium Obtains Shareholder Approval for Transaction
https://ca.finance.yahoo.com/news/atha-energy-announces-latitude-uranium-120000433.html
ATHA Energy Corp.
Wed, February 28, 2024 at 4:00 a.m. PST·2 min read
LURAF
-0.83%
SASKF
-0.66%
VANCOUVER, British Columbia, Feb. 28, 2024 (GLOBE NEWSWIRE) -- ATHA Energy Corp. (CSE: SASK) (FRA: X5U) (OTCQB: SASKF) (“ATHA”) is pleased to announce that shareholders (“LUR Shareholders”) of Latitude Uranium Inc. (CSE: LUR) (OTCQB: LURAF) (“Latitude”) have overwhelmingly approved the previously announced arrangement (the “Arrangement”) involving ATHA and Latitude at Latitude’s special meeting (the “LUR Meeting”) held on February 27, 2024.
The special resolution approving the Arrangement (the “Arrangement Resolution”) was required to be approved by at least two-thirds (66 2/3%) of the votes cast by LUR Shareholders present virtually or represented by proxy at the LUR Meeting.
A total of 103,295,471 common shares of LUR, representing approximately 44.69% of votes entitled to be cast at the LUR Meeting, were represented by proxy at the LUR Meeting. Approximately 99.62% of the votes eligible to be cast were voted in favour of the Arrangement Resolution.
Latitude will seek a final order approving the Arrangement from the Ontario Superior Court of Justice (Commercial List) on February 29, 2024. Closing of the Arrangement remains subject to satisfaction of certain customary closing conditions, including receipt of final court, stock exchange and regulatory approvals. Subject to the satisfaction of these closing conditions, the parties currently expect to complete the Arrangement in early March 2024.
For additional information on the Arrangement, please refer to ATHA’s news releases dated December 7, 2023, January 25, 2024 and February 21, 2024.
About ATHA
ATHA is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties. ATHA holds the largest cumulative exploration package in each of the Athabasca Basin and Thelon Basin, two of the world’s most prominent basins for uranium discoveries, with 6.4 million total acres along with a 10% carried interest portfolio of claims in the Athabasca Basin operated by NexGen Energy Ltd. and Iso Energy Ltd.
For more information visit www.athaenergy.com.
For more information, please contact:
Troy Boisjoli
Chief Executive Officer
Email: info@athaenergy.com
1-306-460-5353
www.athaenergy.com
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
None of the securities to be issued pursuant to the Arrangement have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issuable in the Arrangement are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities.
Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. These forward-looking statements or information may relate to, among other things, the Arrangement, the receipt of the required regulatory, stock exchange, court and other approvals, and the ability of ATHA and Latitude to successfully close the Arrangement.
Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions regarding the ability of ATHA and Latitude to satisfy the conditions imposed in connection with the completion of the Arrangement, completion of the Arrangement, receipt of required regulatory, court and stock exchange approvals, the ability of ATHA and Latitude to satisfy, in a timely manner, the other conditions to the closing of the Arrangement, other expectations and assumptions concerning the Arrangement, and that general business and economic conditions will not change in a material adverse manner. Although each of ATHA and Latitude have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
Such statements represent the current views of ATHA and Latitude with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by ATHA and Latitude, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: inability of ATHA and Latitude to complete the Arrangement or satisfy certain conditions precedent thereto; the inability of ATHA to satisfy all conditions to its proposed listing on the TSX Venture Exchange; a material adverse change in the timing of any completion and the terms and conditions upon which the Arrangement is completed; inability to satisfy or waive all conditions to closing the Arrangement; the Canadian Securities Exchange and/or the TSX Venture Exchange not providing approval to the Arrangement and all required matters related thereto; the inability of the consolidated entity to realize the benefits anticipated from the Arrangement and the timing to realize such benefits, including the exploration and drilling targets; unanticipated changes in market price for ATHA shares and/or Latitude shares; changes to ATHA’s and/or Latitude’s current and future business and exploration plans and the strategic alternatives available thereto; growth prospects and outlook of the business of each of ATHA and Latitude; treatment of the Arrangement under applicable competition laws and the Investment Canada Act; regulatory determinations and delays; any impacts of COVID-19 on the business of the consolidated entity and the ability to advance its projects; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions in Canada and other jurisdictions where the applicable party conducts business. Other factors which could materially affect such forward-looking information are described in the filings of ATHA and Latitude with the Canadian securities regulators which are available, respectively, on each of ATHA’s and Latitude’s profiles on SEDAR+ at www.sedarplus.ca. Neither ATHA nor Latitude undertake to update any forward-looking information, except in accordance with applicable securities laws.
District Comments on Uranium Mining Announcement from the Swedish Government
https://www.newsfilecorp.com/release/199191
February 26, 2024 8:30 AM EST | Source: District Metals Corp.
Vancouver, British Columbia--(Newsfile Corp. - February 26, 2024) - District Metals Corp. (TSXV: DMX) (OTCQB: DMXCF) (FSE: DFPP) ("District" or the "Company") is pleased to highlight a press release issued by the Swedish Ministry for Climate and the Environment on February 23, 2024, which states that a rapid investigation will commence with the purpose "to remove a ban (on uranium mining) that is not needed." The press release further states that an "Inquiry Chair will now be tasked with investigating what regulatory changes are needed to enable and clarify the conditions for uranium extraction." The full press release can be found here, and readers are encouraged to read the announcement in its entirety.
This press release is of particular importance to District and its shareholders given the Company's 100% ownership of the Viken Energy Metals Deposit in Sweden, which is amongst the largest deposits of uranium and vanadium, based on total historic mineral resources, in the world (see January 15, 2024 news release).
Garrett Ainsworth, CEO of District, commented: "We are very pleased with this official statement from the Swedish Government and believe it is a significant step towards lifting the current uranium mining moratorium in Sweden. On February 15 a rapid investigation into lifting the uranium moratorium has been initiated and shall be reported no later than May 15. The Swedish Government has made its intentions clear by stating that 'the current ban on uranium mining will be removed.' District is ready for this transformational decision with our portfolio of properties in Sweden."
Sweden's current government has indicated strong support for nuclear power and energy security. The governing coalition formed in October 2022 has indicated support for expanding nuclear power in Sweden. There are currently six operating nuclear reactors in Sweden that supply about 40% of the country's electricity, and the government has called for the possible restart of Ringhals reactor units 1 and 2, as well as preparation for the construction of new reactors.
The moratorium on exploration and mining of uranium in Sweden came into effect on August 1, 2018. In November 2022, the ruling coalition government put forth a motion to revert the Minerals Act back to the original wording prior to August 1, 2018. District believes that the aforementioned press release from the Ministry for Climate and the Environment is very positive for Sweden and a low-carbon Europe.
Technical Information
All scientific and technical information in this news release has been prepared by, or approved by Garrett Ainsworth, PGeo, President and CEO of the Company. Mr. Ainsworth is a qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
The data disclosed in this news release is related to historical results. District has not undertaken any independent investigation of the sampling nor has it independently analyzed the results of the historical exploration work in order to verify the results. District considers these historical results relevant as the Company is using this data as a guide to plan exploration programs. The Company's current and future exploration work includes verification of the historical data through drilling.
Mr. Ainsworth has not verified any of the information regarding any of the properties or projects referred to herein other than District's Properties. Mineralization on any other properties referred to herein is not necessarily indicative of mineralization on District's Properties.
About District Metals Corp.
District Metals Corp. is led by industry professionals with a track record of success in the mining industry. The Company's mandate is to seek out, explore, and develop prospective mineral properties through a disciplined science-based approach to create shareholder value and benefit other stakeholders.
District is a polymetallic exploration and development company focused on the Viken and Tomtebo Properties in Sweden. The Viken Property covers 100% of the uranium-vanadium Viken Deposit, which is an asset with substantial exploration and development expenditures that resulted in the definition of large historic polymetallic resource estimates in 2010 and 2014. The Viken Deposit is amongst the largest deposits by total historic mineral resources of uranium and vanadium in the world.
The advanced exploration stage Tomtebo Property is located in the Bergslagen Mining District of south-central Sweden and is situated between the historic Falun Mine and Boliden's Garpenberg Mine that are located 25 km to the northwest and southeast, respectively. Two historic polymetallic mines and numerous polymetallic showings are located on the Tomtebo Property along an approximate 17 km trend that exhibits similar geology, structure, alteration and VMS/SedEx style mineralization as other significant mines within the district.
For further information on the Tomtebo Property, please see the technical report entitled "NI 43-101 Update Technical Report on the Tomtebo Project, Bergslagen Region of Sweden" dated effective October 15, 2020 and amended and restated on February 26, 2021, which is available on SEDAR+ at www.sedarplus.ca.
On Behalf of the Board of Directors
"Garrett Ainsworth"
President and Chief Executive Officer
(604) 288-4430
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding "Forward-Looking Information"
This news release contains certain statements that may be considered "forward-looking information" with respect to the Company within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved" and any similar expressions. In addition, any statements that refer to expectations, predictions, indications, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events. Forward-looking information in this news release relating to the Company include, among other things, statements relating to the Purchase Agreement and closing thereof; the Company's Swedish polymetallic properties; the Company's planned exploration activities, including its drill target strategy and next steps for the Swedish properties; and the Company's interpretations and expectations about the results on the Swedish properties.
These statements and other forward-looking information are based on opinions, assumptions and estimates made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes are appropriate and reasonable in the circumstances, as of the date of this news release, including, without limitation, assumptions about the reliability of historical data and the accuracy of publicly reported information regarding past and historic mines in the Bergslagen district; and in respect of the Swedish properties; that the Swedish government will eventually lift or amend its moratorium on uranium exploration and mining in Sweden; the Company's ability to raise sufficient capital to fund planned exploration activities, maintain corporate capacity; and stability in financial and capital markets.
Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date such statements are made, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks associated with the following: the reliability of historic data on District's properties; the Company's ability to raise sufficient capital to finance planned exploration; that the Swedish government maintains its moratorium on uranium exploration and mining in Sweden for the foreseeable future; the Company's limited operating history; the Company's negative operating cash flow and dependence on third-party financing; the uncertainty of additional funding; the uncertainties associated with early stage exploration activities including general economic, market and business conditions, the regulatory process, failure to obtain necessary permits and approvals, technical issues, potential delays, unexpected events and management's capacity to execute and implement its future plans; the Company's ability to identify any mineral resources and mineral reserves; the substantial expenditures required to establish mineral reserves through drilling and the estimation of mineral reserves or mineral resources; the uncertainty of estimates used to calculated mineralization figures; changes in governmental regulations; compliance with applicable laws and regulations; competition for future resource acquisitions and skilled industry personnel; reliance on key personnel; title matters; conflicts of interest; environmental laws and regulations and associated risks, including climate change legislation; land reclamation requirements; changes in government policies; volatility of the Company's share price; the unlikelihood that shareholders will receive dividends from the Company; potential future acquisitions and joint ventures; infrastructure risks; fluctuations in demand for, and prices of metals; fluctuations in foreign currency exchange rates; legal proceedings and the enforceability of judgments; going concern risk; risks related to the Company's information technology systems and cyber-security risks; and risk related to the outbreak of epidemics or pandemics or other health crises. For additional information regarding these risks, please see the Company's Annual Information Form dated July 11, 2022, under the heading "Risk Factors", which is available at www.sedarplus.ca. These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the Company. These factors and assumptions, however, should be considered carefully. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking information or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Also, many of such factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release, and the Company assumes no obligation to publicly update or revise such forward-looking information, except as required by applicable securities laws.
SOURCE: District Metals Corp.
Blue Sky Uranium Announces a Positive New Preliminary Economic Assessment for the Ivana Uranium-Vanadium Deposit, Amarillo Grande Project, Argentina
https://www.newswire.ca/news-releases/blue-sky-uranium-announces-a-positive-new-preliminary-economic-assessment-for-the-ivana-uranium-vanadium-deposit-amarillo-grande-project-argentina-864364105.html
Blue Sky Uranium Corp. Feb 22, 2024, 07:00 ET
TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF
VANCOUVER, BC, Feb. 22, 2024 /CNW/ - Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF)
Nuclear Fuels Intersects .233% U3O8 in initial drilling at Spur zone Kaycee Project, Wyoming
https://www.prnewswire.com/news-releases/nuclear-fuels-intersects-233-u3o8-in-initial-drilling-at-spur-zone-kaycee-project-wyoming-302071909.html
Nuclear Fuels Inc. 27 Feb, 2024, 08:30 ET
CSE:NF
OTCQX: NFUNF
Spur zone located 2 miles along trend from Saddle Zone
VANCOUVER, BC, Feb. 27, 2024 /PRNewswire/ - Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF
Eagle Plains and Refined Metals Execute Option Agreement for the Dufferin Uranium Project
https://www.accesswire.com/836830/eagle-plains-and-refined-metals-execute-option-agreement-for-the-dufferin-uranium-project
Tuesday, 27 February 2024 07:00 AM
CRANBROOK, BC / ACCESSWIRE / February 27, 2024 / Eagle Plains Resources Ltd. (TSXV:EPL) ("EPL" or "Eagle Plains") and Refined Metals Corp. (CSE: RMC; OTC: RFMCF; FRA: CWA0) ("RMC" or "Refined" or the "Company") have entered into an option agreement (the "Option") dated February 26, 2024, pursuant to which Refined has been granted the exclusive right to acquire up to a 75% interest in the 6,424 ha Dufferin Project. The Dufferin Project is made up of the North and West properties, both of which are located approximately 18km from Cameco's Centennial Deposit where historic drill hole VR-031W3 intersected 8.78% U308 over 33.9m (SMAF 74G12-0061).
To exercise the Option, Refined must make a series of cash payments and share issuances to Eagle Plains and fund exploration expenditures on the Project. These payments, share issuance and expenditures are separated into two phases, with the first Option entitling the Company to acquire a 60% interest in the Project by paying CA$275,000, issuing an aggregate of 1,000,000 post-consolidated common shares to EPL and funding CA$2,600,000 in exploration expenditures on the Project by December 31, 2026. Pursuant to the second phase of the Option, the Company may acquire an additional 15% interest in the Project (for a 75% total interest) by paying an additional CA$500,000, issuing an additional 500,000 post-consolidated Shares to EPL and funding an additional CA$3,000,000 in exploration expenditures on the Project by December 31, 2028. The Dufferin project is owned 100% by EPL, who will be appointed as Operator during the first Option period.
If the First Option or the Second Option is exercised, a 2% smelter return royalty will be granted to Eagle Plains, 1% of which may be repurchased for CA$2,000,000. Following the exercise of the First Option or the Second Option by the Company, the Company and EPL will form a joint-venture which will administer the continued exploration and operation of the Project.
Chuck Downie, P.Geo. President and CEO of Eagle Plains commented on the transaction: "We are pleased to be able to partner with Refined on the Dufferin project. Over the past 18 months, there has been a tremendous focus on the Athabasca Basin in terms of tenure acquisition, mergers and acquisitions, and exploration spending by both junior and senior companies. We look forward to advancing this underexplored and highly prospective project with Refined."
Mark Fields, Chief Executive Officer of the Company stated, "We are excited to add the Dufferin Project to our project portfolio and the exposure to uranium it provides. Positioned in the Athabasca Basin region, which is renowned for its high-grade uranium deposits and storied history of exploration, discovery, and development, we believe that the Project is a terrific exploration opportunity for the Company."
See Dufferin West and North Project Map here
See Dufferin West Project Location Map and Webpage here
About the Dufferin Project
The Dufferin Project is comprised of the Dufferin West and North properties located near the southern boundary of the Athabasca Basin. They are prospective for unconformity- and basement-hosted uranium mineralization in proximity to a major NE-SW trending structural zone known as the Virgin River Shear Zone. The relatively high concentration of secondary uranium bearing minerals at the Project may also indicate uranium mineralization remobilization may play an important role in this region of the Athabasca Basin. Faulted basement contacts and brittlely reactivated structures are the primary locations for mineralization in the area covered by the Dufferin Project. Geophysical electromagnetic ("EM") and magnetic anomalies are supported by uranium and boron soil and lake sediment anomalies along the inferred fault zones, which are expected to aid in focusing future exploration programs.
Some of the above results were taken directly from the SMDI descriptions and assessment reports (SMAF) filed with the Saskatchewan government. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person, but form a basis for ongoing work on the subject properties. Eagle Plains' management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties.
EPL and Refined plan to undertake further detailed data compilation with a view to deploying the most effective geophysical exploration methods from a variety that have proven effective in the Athabasca Basin. These include EM, magnetic, resistivity and gravity surveys to delineate prospective conductors and alteration signatures. Geochemical sampling will also be considered over specific structures and conductors. The results of the geophysical exploration are expected to be used to identify disrupted faults delineated by EM conductors and other geophysical anomalies for drill targeting.
Eagle Plains currently holds a 100% interest in 18 individual projects comprising a total of 40,050 ha of mineral dispositions in Saskatchewan covering both basement and unconformity hosted uranium targets. Eagle Plains has been active in the uranium exploration space since 2006, but as reported on November 08, 2023 and February 12th, 2024 EPL has acquired significant additional uranium-focused tenures. The projects range from early-stage grassroots to drill-ready and are distributed throughout the prospective Athabasca Basin including the Patterson Lake South (PLS), Beaverlodge, and Dufferin-Centennial camps.
EPL is seeking to advance its uranium portfolio through collaborative partnerships.
See Athabasca Basin U project map here
Qualified Persons
Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and a director of Eagle Plains, has reviewed and approved the scientific and technical disclosure in this news release.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains is a well-funded, prolific project generator that continues to conduct research, acquire and explore mineral projects throughout western Canada, with a focus on critical metals integral to an increasingly electrified, decarbonized economy.
The Company was formed in 1992 and is the ninth-oldest listed issuer on the TSX-V (and one of only three that has not seen a roll-back or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and through numerous spin outs has transferred over $100,000,000 in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold Corp. being notable examples. Eagle Plains latest spinout; Eagle Royalties Ltd. (CSE:"ER") was listed on May 24, 2023, and holds a diverse portfolio of royalty assets throughout western Canada.
Eagle Plains' core business is acquiring grassroots critical- and precious-metal exploration properties. The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team.
Expenditures from 2010-2023 on Eagle Plains-related projects exceed $38M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 50,000m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.
Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.
On behalf of the Board of Directors
"C.C. (Chuck) Downie" P.Geo
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at https://www.eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE: Eagle Plains Resources Ltd.
Myriad Uranium Announces Addition of Highly Prospective Target Area Revealed by Historic Data Trove, Increases Wyoming Land Position by 41%
https://www.newsfilecorp.com/release/199336
February 26, 2024 4:00 PM EST | Source: Myriad Uranium Corp.
Vancouver, British Columbia--(Newsfile Corp. - February 26, 2024) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce the staking of the Knob claims, a significant uranium target area in the Copper Mountain Uranium District. Historical information from Neutron Energy Inc. suggests that the Knob claims contain a potential target of up to 500,000 lbs U3O8 at 0.15% (unverified, see Note 1 below) with significant potential for expansion. The Knob claims are comprised of 52 Wyoming mineral claims aggregating 780 acres (see Figure 1 below.). The area is now part of the Copper Mountain Project, in which Myriad holds a 75% earnable interest.
The identification and acquisition of the Knob claims is a result of Myriad's ongoing review of proprietary paper-based historical data sets. The Knob target areas' mineralisation is understood to be in a flat-lying zone of fracturing within the host granite.
Figure 1: Updated Myriad Uranium claims
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6301/199336_631f0c0d2419082d_002full.jpg
"I remind everyone of a statement made in a 2010 Neutron Energy internal memorandum that we possess," remarked Thomas Lamb, Myriad's CEO. "The statement is: 'Copper Mountain has world-class potential in the "brownfield" exploration and expansion of the Copper Mountain District.' Myriad Uranium is intent on confirming this statement. Our ongoing review of several historical data sets has revealed an array of compelling high-grade targets that do not form part of the historic resource estimates we've previously reported. The estimates were generated by Union Pacific to support a medium-grade bulk tonnage mine focused on the Canning Deposit in the centre of our claim area. Union Pacific and subsequent owners of parts of our current claims, such as Neutron Energy (now part of enCore), also understood that high grade exploration targets are in abundance in the district and needed to be followed up, but they ran out of time. As we take up the helm, we are optimistic that Knob and other areas in our pipeline could significantly increase the grade and volume of uranium we can report at Copper Mountain. There is much more to come, so please stay tuned."
This is the first of many planned expansions at Copper Mountain, adding to a claim area that already includes the past-producing Arrowhead Mine, the Canning Deposit, the Fuller Deposit, and a number of other uranium deposits and mines. It is expected that the historical data trove will continue to allow Myriad to add high-potential prospects to the project.
Note 1
A qualified person (as defined under NI 43-101) has not done sufficient work to classify the historical target estimate reported in this news release as a current mineral resource or mineral reserve, and Myriad is not treating the historical target estimate as a current mineral resource or mineral reserve. In particular, the Company does not know the key assumptions, parameters and methods used to prepare the historical target estimate. Also, the Company does not have any more recent estimates or data available respecting the historical target estimate. In order to verify the historical target estimate referenced in this release, additional exploration work will be required, including drilling. The target estimate in this news release is referenced in a January 2010 Neutron Energy Inc. report titled "The Copper Mountain, Wyoming Project, Resource Status, Potential, & Recommended Programs" by J.F. Davis and D.T. Wilton." The January 2010 report states that no data was available to the authors relating to the Knob target, but does reference "Ferris, 1968" as a source. The Company is seeking a copy of this document but has not yet located one. The estimate cannot be relied upon until it is confirmed by additional work.
Qualified Person
The scientific or technical information in this news release respecting the Company's Copper Mountain Project has been approved by George van der Walt, MSc., Pr.Sci.Nat., MGSSA, a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. It is based on the Qualified Person's initial review of historical reports which were recently obtained by the Company. The information did not include original data such as drilling records, sampling, analytical or test data underlying the information or opinions contained in the written documents. Therefore, the Qualified Person has not reviewed or otherwise verified the information and has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves. The Qualified Person considers the information to be relevant based on the amount and quality of work undertaken and reported historically. A more thorough review of any available original data will be undertaken and reported on in more detail in future releases.
About Myriad Uranium Corp.
Myriad Uranium Corp. is a uranium exploration company with an earnable 75% interest in the Copper Mountain Uranium Project in Wyoming, USA. Copper Mountain hosts several known uranium deposits and historic uranium mines, including the Arrowhead Mine which is understood to have produced 500,000 lbs of eU3O8 at a grade of 0.15%. Copper Mountain saw extensive drilling and development by Union Pacific, which developed a mine plan and built a leach pad for one of the deposits at Copper Mountain. Operations ceased in 1980 before mining could commence due to falling uranium prices. Approximately 2,000 boreholes have been drilled at Copper Mountain and the project area has significant exploration upside. Union Pacific is estimated to have spent C$117 million (2023 dollars) exploring and developing Copper Mountain, generating significant historical resource estimates which are detailed here.
Myriad also holds 80% ownership of over 1,800 km2 of uranium exploration licenses in the Tim Mersoi¨ Basin, Niger, with the option to earn up to 100%. These licenses are surrounded by many of the most significant uranium deposits in Africa, including Orano's 384 Mlbs eU3O8 Imouraren, Global Atomic's 236 Mlbs Dasa, and Goviex's 100 Mlbs Madaouela, and on the same fault structures. Myriad also has a 50% interest in the Millen Mountain Property in Nova Scotia, Canada, with the other 50% held by Probe Metals Inc. For further information, please refer to Myriad's disclosure record on SEDAR+ (www.sedarplus.ca), contact Myriad by telephone at +1.604.418.2877, or refer to Myriad's website at www.myriaduranium.com.
Recent interviews with VSA and Crux Investor are here and here. A video overview of the Copper Mountain Project is here.
Myriad Contacts:
Thomas Lamb
President and CEO
tlamb@myriaduranium.com
Forward-Looking Statements
Mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company's properties. This news release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of the Company's mineral properties, the proposed work program on the Company's mineral properties and the potential and economic viability of the Company's mineral properties. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
The CSE has not reviewed, approved or disapproved the contents of this news release.
SOURCE: Myriad Uranium Corp.
Kraken Energy/ Atomic Minerals Commence Drilling at Harts Point
https://www.newsfilecorp.com/release/199177
February 26, 2024 7:30 AM EST | Source: Atomic Minerals Corp.
Vancouver, British Columbia--(Newsfile Corp. - February 26, 2024) - Atomic Minerals Corporation (TSXV: ATOM) ("ATOMIC MINERALS" or the "Company") is pleased to report optionee Kraken Energy Corp. ("Kraken Energy") has mobilized for Phase 1 drilling at the Harts Point Uranium Property ("Harts Point" or the "Property") located in San Juan County, Utah.
The Phase I drilling program will explore the property from two drill pad locations over a 5-km strike length targeting the favorable uranium bearing Chinle Formation host rock where three historical oil wells returned "off-scale" radioactivity.
"We are extremely excited optionee Kraken Energy is executing Phase I drilling at Harts Point," commented Clive Massey, President & CEO of Atomic Minerals. "This drilling will test the off-scale radioactivity encountered in historic oil and gas drill holes at Harts Point probing the project's exceptional potential to discover a trend of high-grade uranium deposits located within a pro-mining jurisdiction," he continued. "Harts Point is perfectly situated to capitalize on existing infrastructure and potential future milling capacity in area of known significant historical uranium production as we endeavor to establish Atomic Minerals a leader in the uranium industry," he concluded.
Harts Point Property Highlights:
World class uranium jurisdiction: located in the center of the Colorado Plateau, which has produced over 590 million ("M") pounds ("lbs.") U3O8 at 0.2 to 0.4% U3O8 since the 1950s1,5-8.
Property consists of 324 lode mining claims on Bureau of Land Management ("BLM") ground that covers an area of 2,622 hectares ("ha") (6,480 acres).
Harts Point Anticline is Analogous to the Lisbon Valley Anticline: where the Lisbon Valley Uranium District hosted 17 large uranium mines which produced approximately 80M lbs. U3O8 at 0.34% U3O8 from 1948 to 19882.
The dimensions of these tabular sandstone-hosted uranium deposits range from 2 to 13 meters ("m") (7 to 43 feet) thick, 100 to 3,048 m (328 to 10,000 feet) long, and 31 to 427 m (100 to 1,400 feet) wide3.
Significant Historic Uranium Production:
Several historic mines located 11 km (7 miles) west of the Harts Point Property produced approximately 280,000 lbs. U3O8 at 0.3% U3O8 from the favorable Chinle Formation host rock4.
The Lisbon Valley Anticline is located 31 km (19 miles) to the east of the Harts Point Property produced approximately 80M lbs. U3O8 0.34% U3O82.
Historic Exploration: Three wide-spaced historic oil and gas wells on the Property (Figure 1) along the east flank of the Harts Point Anticline show 'off-scale' radioactivity within the favorable Chinle Formation host rock.
Drilled between 1953 and 1980, historic drill holes 43-037-10438, 43-037-30109, and 43-037-30623 showed off-scale radioactivity readings between 2.1 to 3.7 m thickness (7 to 12 feet) from depths of 390 to 417 m (1,280 to 1,368 feet).
Excellent Infrastructure: located approximately 64 km (40 miles) north of the White Mesa uranium processing facility.
There is also excellent access throughout the Property, which is situated 45 km (28 miles) from the town of Monticello, Utah.
Figure 1: Harts Point Property with Local Uranium Occurrences
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10252/199177_b3751fc0442c09df_002full.jpg
References:
Holger Albrethsen, Jr., and Frank E. McGinley (1982). Summary History of Domestic Procurement Under U.S. Atomic Energy Commission Contracts, September 1982.
Chenoweth, W.L. (1990). Lisbon Valley, Utah's Premier Uranium Area, a Summary of Exploration and Ore Production. Utah Geological Survey Open File Report 188, July 1990.
Gordon W. Weir and Willard P. Puffett (1981). Incomplete manuscript on stratigraphy and structural geology and uranium-vanadium and copper deposits of the Lisbon Valley area, Utah-Colorado. Open-File Report 81-39. Pages 153 to 163. United States Department of the Interior Geological Survey.
Chenoweth, W.L. (1993): The geology and Production History of the Uranium deposits in the White Canyon Mining District, San Juan County, Utah, Utah Geological Survey Miscellaneous Publication 93-3.
Mills, Stephanie E., and Bear Jordan (2021). Uranium and Vanadium Resources of Utah: An Update in the Era of Critical Minerals and Carbon Neutrality, Open File Report 735, Utah Geological Survey.
Chenoweth, William L. (1981). The Uranium - Vanadium Deposits of the Uravan Mineral Belt and Adjacent Areas, Colorado and Utah, New Mexico Geological Society Guidebook, 32nd Field Conference, Western Slope Colorado.
McLemore, Virginia T., and Willam L. Chenoweth (1989). Uranium Resources in New Mexico, Resource Map 18, New Mexico Bureau of Mines and Mineral Resources.
Chenoweth, William L., and Virginia T. McLemore (1989). Uranium Resources on the Colorado Plateau in Energy Frontiers in the Rockies, Albuquerque Geological Society.
The data disclosed in this news release is related to historical drilling results. Atomic has not undertaken any independent investigation of the sampling, nor has it independently analyzed the results of the historical exploration work in order to verify the results. Atomic considers these historical drill results relevant as the Company is using this data as a guide to plan exploration programs. The Company's current and future exploration work includes verification of the historical data through drilling.
Qualified Person
Mr. R. Tim Henneberry, P.Geo. (BC), an advisor to the Company, is the "Qualified Person" under National Instrument 43-101 responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.
About Harts Point
Harts Point is located in the center of the Colorado Plateau, referred to by some as "the Athabasca Basin of the US" and is 64 kilometers ("km") (40 miles) north of the White Mesa Uranium Mill, the only fully licensed and operating conventional uranium mill in the United States. The Property consists of 324 lode mining claims on Bureau of Land Management ("BLM") ground and drill permits are in place for up to 20 exploration drill holes.
Atomic Minerals has granted Kraken Energy Corp. the right to earn a 65% interest in Harts Point. Kraken Energy must complete US$1.5 million in exploration expenditures within 18 months and a further 10% interest to 75% by completing a further US$2.0 million in exploration expenditures and issuing 2 million shares to Atomic Minerals within the next 30 months. Atomic Minerals retains a 2% Net Smelter Return Royalty which can be reduced to 1% through a US$5 million payment. Upon completion of 65% or 75% interest, a joint venture will be formed.
About the Company
Atomic Minerals Corp. is a publicly listed exploration company on the TSX Venture Exchange, trading under the symbol ATOM, led by a highly skilled management and technical team with a proven track record in the junior mining sector. Atomic Minerals' objective is to identify exploration opportunities in regions that have been previously overlooked but are geologically similar to those with previous uranium discoveries. These underexplored areas hold immense potential and are in stable geopolitical and economic environments.
Atomic Minerals' property portfolio contains uranium projects in three locations within North America, all of which have significant technical merit and or are known for hosting uranium production in the past. Three of the properties are located on the Colorado Plateau, an area which has previously produced 597 million pounds of U3O8; Three others are in the prolific Athabasca Basin region and nine uranium projects are located Northern Saskatchewan, encompassing a total exploration area of 6,495 hectares.
For additional information about the Company and its projects, please visit our website at www.atomicminerals.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
"Clive Massey"
Clive H. Massey
President & CEO
For further information, please contact:
Dave Langlais
(778) 316-5105
Neither TSX Venture Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements:
This news release contains certain statements that may be deemed "forward-looking" statements. Forward-Looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Atomic Minerals Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-Looking statements are based on the beliefs, estimates and opinions of Atomic Minerals Corporation management on the date the statements are made. Except as required by law, Atomic Minerals Corporation undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
###
SOURCE: Atomic Minerals Corp.
Atco Mining Begins Drilling at Atlantic Uranium Project in Athabasca Basin
https://thenewswire.com/press-releases/1BKRFjb9g-atco-mining-begins-drilling-at-atlantic-uranium-project-in-athabasca-basin.html
Vancouver, British Columbia – TheNewswire - February 27th, 2024 — Atco Mining Inc. (the “Company” or “Atco”) (CSE:ATCM); (OTC:ATMGF); (Frankfurt:QP9) is pleased to announce that drilling activities have commenced at the newly announced, joint-ventured 3,061-hectare Atlantic Uranium Project (“Atlantic” or the “Project”). Atlantic is situated in the prolific eastern Athabasca Basin in northern Saskatchewan (Figure 1).
The Project is currently under option with Standard Uranium Ltd. (“Standard Uranium”), an arms-length company listed on the TSX Venture Exchange (TSXV: STND). Pursuant to the option, Atco can earn a 75% interest in the Project over three years.
Highlights:
Standard Uranium’s geological team arrived at site on February 26th and drilling has started on the first hole of the inaugural Atlantic program.
One diamond drill hole is testing high-priority target area A on the Project (Figure 2), investigating a significant density anomaly coincident with modeled electromagnetic (“EM”) conductors, and interpreted faults.
Additional drill holes will follow up on highly anomalous uranium results and a major structure intersected in previous drill hole BL-16-32.
Approximately 2,000-3,000 metres planned across 4-6 drill holes, targeting high-grade unconformity-related uranium mineralization.
The Company considers uranium mineralization with concentrations greater than 1.0 wt% U3O8 to be “high-grade”.
“We are extremely excited that we’re able to kick-start our drill program so quickly,” said Etienne Moshevich, CEO of Atco. The next four to six weeks are going to be an important time for our Company and I look forward to updating our investors with our progress over the coming quarters.”
Click Image To View Full Size
Click Image To View Full Size
Figure 1. Regional summary map of the Atlantic Project highlighting nearby uranium occurrences, historical drill holes, geophysical anomalies, and EM conductors.
2024 Winter Drill Program
Atco’s joint-venture partner, Standard Uranium, and its team arrived on site on February 26th, 2024, and diamond drilling on the first hole is currently underway. The winter program is the first drill campaign undertaken by Standard Uranium on the Project following its successful identification of high-priority targets in 2022-2023.
The Project covers 6.5 km of an 18 km long, east-west trending conductive exploration trend which hosts numerous uranium occurrences. Standard Uranium completed a high-resolution ground gravity survey on the western claim block in 2022, revealing multiple subsurface density anomalies, potentially representing significant hydrothermal alteration zones in the sandstone rooted to basement conductors.
The drill program is designed to follow up on highly anomalous uranium results returned from drill hole BL-16-32, in addition to testing the newly outlined gravity lows defined by the 2022 ground survey. On the western Atlantic claim block, drilling by Denison Mines in 2016 (Hole BL-16-32) identified 342 ppm uranium over 0.5 metres at the base of the sandstone, just north of target area A (Figure 2). Winter drilling will be focused in target area A which is defined by a 1,400-metre x 850-metre density anomaly at the unconformity coinciding with stacked EM conductors and an interpreted regional fault. Figure 2 shows the 3D density anomaly target at the unconformity depth slice, with projected basement EM conductors and interpreted fault trends.
Click Image To View Full Size
Figure 2. Geophysical map of the western Atlantic claim block, highlighting drill hole BL-16-32 and key geophysical features defining high-priority target areas A and B. Residual gravity-low anomalies are shown at the unconformity depth slice. Target area A will be the focus of the winter 2024 drill program.
The scientific and technical information contained in this news release, including the sampling, analytical and test data underlying the technical information contained in this news release, has been reviewed, verified and approved by Mr. Neil McCallum, PGeo, a director of both Atco Mining and Standard Uranium and a qualified person as defined in National Instrument 43-101.
About Atco Mining (CSE: ATCM):
Atco is a junior exploration mining company focused on exploring for green energy metals throughout Canada. Atco is also exploring salt opportunities in Western Newfoundland. Investors are encouraged to visit the company’s website here: www.atcomining.com
For further information contact:
Atco Mining Inc.
Email: info@atcomining.com
Telephone: (604) 681-0084
www.atcomining.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release. The Canadian Securities Exchange has not in any way approved nor disapproved the contents of this news release.
FORWARD LOOKING STATEMENTS:
Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.
Victory Announces Option Agreement in a Uranium Project in the Athabasca Basin, Saskatchewan
https://www.accesswire.com/836457/victory-announces-option-agreement-in-a-uranium-project-in-the-athabasca-basin-saskatchewan
Monday, 26 February 2024 04:00 AM
Strategically located in the Uranium City District, which is undergoing a major exploration rejuvenation, led by Aero Energy Corp.
VANCOUVER, BC / ACCESSWIRE / February 26, 2024 / Victory Battery Metals Corp. (CSE:VR)(FWB:VR61)(OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to announce it has acquired an option interest in a uranium property on the north margin of the Athabasca Basin.
The Property - Chariot River Uranium
The Property is located 15 km northwest of Uranium City in the Beaverlodge Uranium District and is comprised of 120 claims spanning 1,978 ha over the Chariot River.
The property is bordered by Atha Energy Corp to the south and east, is about 1 km south of Eagle Plains Resources Ltd and is north of Aero Energy's "Strike Property" with numerous uranium showings.
Aero Energy, a restructured company, is focused on re-evaluating properties in the Beaverlodge District, with an emphasis on structurally controlled uranium mineralization.
Aero Energy's Sun Dog and Murmac Properties are also in the Beaverlodge area, to the south of Uranium City.
Aero energy is extending the exploration concepts of the Patterson Lake corridor to the Beaverlodge District.
In the Patterson Lake corridor, mineralization occurs in reactivated basement structures outside and along the margin of the Athabasca Basin.
The Patterson Lake Corridor hosts the Triple R, Arrow and Spitfire deposits, where high grade ore lenses are situated well below the basin-basement unconformity in atypical host rocks.
The west part of the property is located approximately 1.6 km east of the Wellington Power Station which would serve as staging location and/or camp, with access throughout by boats.
"The global growing demand for uranium has resulted in its price surpassing $100 per pound. This strategic acquisition is a welcomed addition to Victory's property portfolio and places the company in position to capitalize on the growing interest uranium has witnessed" said Mr. Mark Ireton, Victory Resources President and CEO. "Canada's Athabasca Basin is home to the world's largest reserves and accounts for 15.5 percent of global annual uranium production. Ten of the 15 highest-grade uranium deposits on the planet are found here. Victory's management team is currently completing due diligence on additional uranium projects and we look forward to providing additional updates shortly on property portfolio enhancements as a result of these undertakings."
Terms of the Agreement
Option
The option agreement provides Victory the sole and exclusive right to acquire an undivided 100% interest in the property (the "Option"), in accordance with the following terms:
a) An initial 40% interest for $50,000 and issuance of 3 million shares;
b) An additional 10% interest for a total of 50% on completion of exploration expenditures during the first year of $100,000;
c) An additional 25% interest for a total of 75% on completion of $150,000 in exploration expenditures during the second anniversary of $150,000 and issuance of 2 million shares;
d) An additional 25% interest for a total of 100% completion of $300,000 in exploration expenditures during the third anniversary and issuance of 2 million shares.
Share Issuance Metrics:
i) Common shares of Victory to be issued under the Option Agreement shall be at the greater $0.05 or the lowest price available under the rules of the CSE;
ii) If during the term hereof, the common shares of Victory are consolidated or otherwise amended, the number and price noted hereunder shall be amended accordingly.
NSR
Victory shall have the right to 1% from total of 2% NSR at any time for $1,000,000.
Athabasca Basin
Located in northern Saskatchewan, Canada, it is known for its prolific uranium deposits. The region has been a major source of uranium for Canada's nuclear energy industry and is one of the world's largest and highest-grade uranium districts.
It is known for its unconformity-type uranium deposits, which are formed at the boundary between older basement rocks and younger sedimentary rocks. These deposits have high-grade uranium mineralization and are considered some of the most economically significant in the world.
The Patterson Lake Corridor is a new exploration district in and adjacent to the Athabasca Basin, which is defined by recent high grade discoveries including the Triple R, Arrow and Spitfire deposits.
Beaverlodge District
The Beaverlodge uranium district consists of a number of past-producing mines in the vicinity of Uranium City, Saskatchewan. Uranium City is located on the northern shore of Lake Athabasca, on the northern margin of the Athabasca Basin. The mines the Beaverlodge area produced in excess of 25 000 t of uranium metal between 1950 and 1982.
Originally a Cold War town, Uranium City came to life in the early 1950s, rapidly growing to more than a dozen mines, some with townsites of their own, and reached a population of nearly 10,000. Having been mined extensively in the past, mining operations declined after the 60's due to changes in market demand and economic factors. A final blow Uranium City endured was the sudden closure of its last mine in 1982, the Beaverlodge Mine owned and run by Eldorado Nuclear, which saw the towns population plunge from 4000 to less than 400. Due to the recent resurgence in uranium demand, Uranium City has not only survived these setbacks, it has once again been placed in the limelight as a regional hub, a site of ongoing exploration, mine reclamation and tourism. The town has a certified airport operated by the province and Pronto Airways still serves the community. There is no all-season road access connecting Uranium City with the rest of the country, but there is a provision for a winter road that connects with Fond du Lac.
The technical information contained in this news release has been reviewed and approved by Mr. Helgi Sigurgeirson, Victory Geologist, who is a Qualified Person as defined under National Instrument 43-101.
For further information, please contact:
Mark Ireton, President
Telephone: +1 (236) 317 2822 or TOLL FREE 1 (855) 665-GOLD (4653)
E-mail: info@victorybatterymetals.com
About Victory Battery Metals Corp.
VICTORY BATTERY METALS CORP. (CSE: VR) is a publicly traded diversified investment corporation with mineral interests in North America. The company is also actively seeking other exploration opportunities.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE: Victory Battery Metals Corp.
Energy Fuels Announces 2023 Results: Record Net Income and Earnings per Share, Uranium Production Ramp-Up, and Near-Term Production of Separated Rare Earth Elements
https://www.newswire.ca/news-releases/energy-fuels-announces-2023-results-record-net-income-and-earnings-per-share-uranium-production-ramp-up-and-near-term-production-of-separated-rare-earth-elements-890429040.html
Energy Fuels Inc. Feb 23, 2024, 16:34 ET
Conference Call and Webcast on February 26, 2024
LAKEWOOD, Colo., Feb. 23, 2024 /CNW/ - Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR)
Denison Announces Exclusive Acquisition of MaxPERF Tool Systems, Enhancing Denison's Leadership in ISR Mining in the Athabasca Basin
https://www.prnewswire.com/news-releases/denison-announces-exclusive-acquisition-of-maxperf-tool-systems-enhancing-denisons-leadership-in-isr-mining-in-the-athabasca-basin-302070624.html
Denison Mines Corp. 26 Feb, 2024, 06:30 ET
TORONTO, Feb. 26, 2024 /PRNewswire/ - Denison Mines Corp. ("Denison") (TSX: DML) (NYSE American: DNN) is pleased to announce that it has completed an acquisition of fixed and mobile MaxPERF Tool Systems from Penetrators Canada Inc. ("Penetrators"). Significantly, Penetrators has also agreed to work exclusively with Denison with respect to the use of the MaxPERF Tool Systems for uranium mining applications, and related services, in Saskatchewan for a 10-year period. View PDF Version
David Cates, Denison's President & CEO, commented, "We are pleased to enter into this exclusive arrangement with Penetrators and add the MaxPERF technology to Denison's in-house ISR mining toolkit, which we believe will further enhance our existing and significant competitive advantage in deploying the low-cost In-Situ Recovery ('ISR') mining method to our high-grade uranium deposits in the Athabasca Basin."
Chad Sorba, Denison's Vice President Technical Services & Project Evaluation, added, "With Denison on track to operate the first ISR uranium mine in the Athabasca Basin region, the acquisition of the MaxPERF Tool Systems represents another important step in our preparations for project execution and commercial ISR mining. MaxPERF has historically been used in the oil and gas sector and was identified by Denison as a potentially useful tool for permeability enhancement to support ISR mining. In 2023, Denison completed a ground-breaking multi-year technical de-risking program at the Company's Phoenix deposit, which rigorously assessed and successfully applied the MaxPERF system to enhance deposit permeability – including its deployment as part of the highly successful Feasibility Field Test program. Given the demonstrated success of the technology, we look forward to continuing to work together with the team at Penetrators to use MaxPERF in this new commercial application."
Dwayne West, President of Penetrators, further commented, "Denison's ISR uranium mining technique is an outstanding application for the MaxPERF technology – permeability exposure that will be exploited for both injectivity and productivity purposes. Penetrators is very pleased with the relationship we have built with Denison and this partnership is a positive next step."
Permeability enhancement techniques, such as the use of the MaxPERF tool, are designed to improve hydraulic responses and inter-well connectivity within an ISR mining pattern, essentially engineering additional access to the natural permeability within the deposit. The MaxPERF tool has been successfully deployed several times as a method of permeability enhancement in ISR field studies conducted on the Company's potential ISR mining projects, including at Denison's flagship Phoenix uranium deposit.
About Denison
Denison is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. Denison has an effective 95% interest in its flagship Wheeler River Uranium Project, which is the largest undeveloped uranium project in the infrastructure rich eastern portion of the Athabasca Basin region of northern Saskatchewan. In mid-2023, a Feasibility Study was completed for Wheeler River's Phoenix deposit as an ISR mining operation, and an update to the previously prepared PFS was completed for Wheeler River's Gryphon deposit as a conventional underground mining operation. Based on the respective studies, both deposits have the potential to be competitive with the lowest cost uranium mining operations in the world. Permitting efforts for the planned Phoenix ISR operation commenced in 2019 and have advanced significantly, with licensing in progress and a draft Environmental Impact Statement submitted for regulatory and public review in October 2022.
Denison's interests in Saskatchewan also include a 22.5% ownership interest in the McClean Lake Joint Venture, which owns 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 67.41% interest in the Tthe Heldeth Túé ("THT") 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, Ltd ("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 ~285,000 hectares in the Athabasca Basin region.
About Penetrators
Penetrators is a privately owned, oil & gas industry service company, incorporated in Alberta in 1990 and is headquartered in Red Deer, Alberta.
Penetrators has developed the MaxPERF Drilling Tool technology – a hydraulically actuated, mechanical tool designed to mill wellbore casing and drill lateral tunnels into a formation pay-zone of interest, from an existing wellbore. The MaxPERF method of removing formation material through a rotary drilling technique offers production companies a unique ability to expose the pay-zone's permeability & porosity, thus providing unparalleled exposure to the pay-zone compared to other conventional industry techniques.
For further information regarding Penetrators, please contact Dwayne West at (403) 346-7474 or visit the company's website at maxperf.ca.
Qualified Persons
The technical information contained in this release has been reviewed and approved by Mr. Chad Sorba, P.Geo, Denison's Vice President Technical Services & Project Evaluation, a Qualified Person in accordance with the requirements of Canadian National Instrument 43-101 Mineral Disclosure Standards.
Cautionary Statement Regarding Forward-Looking Statements
Certain information contained in this press release constitutes "forward-looking information", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and similar 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: the anticipated services Penetrators may provide and the objectives to be achieved with the MaxPERF acquisition; and Denison's percentage interest in its properties and its plans and agreements with its joint venture partners.
Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Denison to be materially different from those expressed or implied by forward-looking statements. 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 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 27, 2023 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.
Canadian GoldCamps Enters into LOI to Acquire up to 70% interest in Murphy Lake Property located in the Athabasca Basin, Saskatchewan
https://ca.finance.yahoo.com/news/canadian-goldcamps-enters-loi-acquire-153800280.html
Canadian GoldCamps Corp.
Mon, February 26, 2024 at 7:38 a.m. PST·4 min read
A68.F
0.00%
CAMP.CN
0.00%
TORONTO, Feb. 26, 2024 (GLOBE NEWSWIRE) -- Canadian GoldCamps Corp. (“Canadian GoldCamps”, or the “Company”) (CSE: CAMP) (FSE: A68) is pleased to announce that it has entered into a non-binding letter of intent dated February 13, 2024 (the "LOI") with F3 Uranium Corp. (“F3”) whereby the Company will enter into a definitive option agreement with F3's wholly-owned subsidiary F4 Uranium Corp. ("F4") to earn up to a 70% interest in F4’s Murphy Lake Property (the "Property") in the Athabasca Basin, Saskatchewan. The Property is located in the north-eastern corner of the Athabasca Basin, 30 km north-west of Orano's McLean Lake deposits, 5 km south of ISOEnergy's Hurricane Uranium Deposit and covers approximately 6.1 square kilometers of land.
To earn an initial 50% in and to the Property, the Company must make the following cash payments, share issuances and property expenditures:
$100,000 within 7 calendar days of signing the LOI;
$200,000 upon entering into of a definitive agreement;
$150,000 on or before the six-month anniversary of the definitive agreement;
$150,000 on or before the 12-month anniversary of the definitive agreement;
$150,000 on or before the 18-month anniversary of the definitive agreement;
$150,000 on or before the 24-month anniversary of the definitive agreement;
following the next equity financing completed by the Company for gross proceeds of not less than $6 million, the Company will issue 9.9% of its then issued and outstanding common shares to F4;
$5M on or before the 1-year anniversary of signing the definitive agreement; and
$5M on or before the 2-year anniversary of signing the definitive agreement.
Upon the Company earning a 50% interest in the Property, both parties agree to participate in a joint venture for the further exploration and development of the Property, and, if deemed warranted, to bring the Property or a portion thereof into commercial production by establishing and operating a mine.
To earn an additional 20% interest in and to the Property (for a total 70% interest in and to the Property), the Company must make the following cash payments and property expenditures:
$250,000 on or before the 30-month anniversary of signing the definitive agreement;
$250,000 on or before the 36-month anniversary of signing the definitive agreement; and
$8M on or before the 3-year anniversary of signing the definitive agreement.
Upon the Company exercising the option, F4 shall receive a 2% net smelter royalty (“NSR Royalty”), provided that the Company shall be responsible only for the percentage of the NSR Royalty equal to its percentage interest in the Property. Therefore, if the Company obtains the initial 50% interest, it shall be responsible for 50% of the NSR Royalty; and if the Company obtains the full 70% interest, it shall be responsible for 70% of the NSR Royalty.
About the Murphy Lake Property
F4's 609-hectare Murphy Lake Project is located in the north-eastern corner of the Athabasca Basin, 30 km northwest of Orano's McLean Lake deposits, 5 km south of ISOEnergy's Hurricane Uranium Deposit, and 4 km east of Cameco's La Rocque Lake Uranium Zone where drill hole Q22-040 intersected 27.9% U O over 7.0 m. The maiden drill program at Murphy Lake was concluded in late September of 2022, and consisted of 14 completed drillholes totaling 6,850m. The scintillometer results from hole ML22-006 intersected up to 2,300 cps (see NR August 10, 2022), which resulted in assay results of 0.065% U3O8 over 2.5m from 322.5m to 324.5m, including 0.242% U3O8 over 0.5m on the E1 EM conductor. Unconformity associated, basement hosted uranium mineralization was encountered along a strike length of 330m on the E1 conductor between ML22-011 and ML22-013 (See Assay Results Map in F3’s news release here) and was associated with graphitic and sulphide rich shear zones in an area overlain by approximately 260m of Athabasca Sandstone.
Qualified Person: The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and approved on behalf of F3 by Raymond Ashley, P.Geo., President & COO of F3 Uranium Corp, a Qualified Person. Mr. Ashley has verified the data disclosed.
About Canadian GoldCamps Corp.
Canadian GoldCamps Corp. is a Canadian-based junior exploration stage company engaged in the evaluation, acquisition and exploration of uranium properties.
For further information, please contact:
Canadian GoldCamps
Brendan Purdy, Interim CEO
604-687-2038
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, including, but not limited to statements related to the company’s business in general, the ability to complete the transaction, and the timing of completion of the transactions contemplated by definitive option agreement, including the parties' ability to satisfy the conditions or approvals to the consummation of the transaction and the possibility of any termination of the agreement. The Company disclaims any intention or obligation to revise or update such statements.
Standard Uranium Mobilizes for Inaugural Drill Program at Atlantic Project, Eastern Athabasca Basin
https://ca.finance.yahoo.com/news/standard-uranium-mobilizes-inaugural-drill-110000665.html
Standard Uranium Ltd.
Thu, February 22, 2024 at 3:00 a.m. PST·5 min read
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Figure 1.
Regional summary map of the Atlantic Project highlighting nearby uranium occurrences, historical drill holes, geophysical anomalies, and EM conductors.
Figure 2.
Geophysical map of the western Atlantic claim block, highlighting drill hole BL-16-32 and key geophysical features defining high-priority target areas A and B. Residual gravity-low anomalies are shown at the unconformity depth slice. Target area A will be the focus of the winter 2024 drill program.
VANCOUVER, British Columbia, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to announce that mobilization has commenced in preparation for the Company’s inaugural drill program at the 3,061-hectare Atlantic Project (“Atlantic” or “the Project”). Atlantic is situated in the prolific eastern Athabasca Basin, northern Saskatchewan (Figure 1).
The Project is currently under option (the “Option”) to ATCO Mining Inc. (the “Optionee”) an arms-length company listed on the Canadian Securities Exchange (CSE: ATCM). Pursuant to the Option, the Optionee can earn a 75% interest in Atlantic over three years. The Optionee-funded winter 2024 drill program is planned to satisfy the first year of minimum exploration expenditures required by the Option.
Highlights:
Approximately 2,000-3,000 metres planned across 4-6 drill holes, targeting high-grade1 unconformity-related uranium mineralization.
One diamond drill testing high-priority target area A on the Project (Figure 2), investigating a significant density anomaly coincident with modeled electromagnetic (“EM”) conductors, and interpreted faults.
Additional drill holes will follow up on highly anomalous uranium results and major structure intersected in drill hole BL-16-32.
Diamond drilling crews mobilized to the Atlantic Project on February 19th.
The Company considers uranium mineralization with concentrations greater than 1.0 wt% U3O8 to be “high-grade”.
“It is an exceptional outcome and a testament to our team’s vision and resolve to have completed the definitive agreement with ATCO and have a drill on site the following week,” said Sean Hillacre, President & VP Exploration for the Company. “We are very eager to begin testing our western block target areas at Atlantic which we have identified through measured analyses of our geophysical data and key geological characteristics of the area specifically relating to uranium mineralizing systems.”
Figure 1.
Figure 1. Regional summary map of the Atlantic Project highlighting nearby uranium occurrences, historical drill holes, geophysical anomalies, and EM conductors.
2024 Winter Drill Program
The winter program will be the first drill campaign completed by the Company on the Project following successful identification of high-priority targets in 2022-2023. The Project covers 6.5 km of an 18 km long, east-west trending conductive exploration trend which hosts numerous uranium occurrences. The Company completed a high-resolution ground gravity survey on the western claim block in 2022, revealing multiple subsurface density anomalies, potentially representing significant hydrothermal alteration zones in the sandstone rooted to basement conductors.
The drill program is designed to follow up on highly anomalous uranium results returned from drill hole BL-16-32, in addition to testing the newly outlined gravity lows defined by the 2022 ground survey. On the western Atlantic claim block, drilling by Denison Mines in 2016 (Hole BL-16-32) identified 342 ppm uranium over 0.5 metres at the base of the sandstone, just north of target area A (Figure 2). Winter drilling will be focused in target area A which is defined by a 1,400-metre x 850-metre density anomaly at the unconformity coinciding with stacked EM conductors and an interpreted regional fault. Figure 2 shows the 3D density anomaly target at the unconformity depth slice, with projected basement EM conductors and interpreted fault trends.
The Base Diamond Drilling team arrived at the Project on February 19th to begin access trail and drill pad preparation, and the Standard Uranium team is slated to mobilize on February 26th, 2024.
Figure 2.
Figure 2. Geophysical map of the western Atlantic claim block, highlighting drill hole BL-16-32 and key geophysical features defining high-priority target areas A and B. Residual gravity-low anomalies are shown at the unconformity depth slice. Target area A will be the focus of the winter 2024 drill program.
The scientific and technical information contained in this news release has been reviewed, verified, and approved by Sean Hillacre, P.Geo., President and VP Exploration of the Company and a “qualified person” as defined in NI 43-101.
About Standard Uranium (TSX-V: STND)
We find the fuel to power a clean energy future
Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in the world’s richest uranium district. The Company holds interest in over 209,867 acres (84,930 hectares) in the world-class Athabasca Basin in Saskatchewan, Canada. Since its establishment, Standard Uranium has focused on the identification, acquisition, and exploration of Athabasca-style uranium targets with a view to discovery and future development.
Standard Uranium has successfully completed four joint venture earn in partnerships on their Sun Dog, Canary, Atlantic and Ascent projects totaling over $31M in work commitments over the next three years from 2024-2026.
Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, comprises ten mineral claims over 30,737 hectares. Davidson River is highly prospective for basement-hosted uranium deposits due to its location along trend from recent high-grade uranium discoveries. However, owing to the large project size with multiple targets, it remains broadly under-tested by drilling. Recent intersections of wide, structurally deformed and strongly altered shear zones provide significant confidence in the exploration model and future success is expected.
Standard Uranium’s eight eastern Athabasca projects comprise thirty mineral claims over 32,838 hectares. The eastern basin projects are highly prospective for unconformity related and/or basement hosted uranium deposits based on historical uranium occurrences, recently identified geophysical anomalies, and location along trend from several high-grade uranium discoveries.
Standard Uranium's Sun Dog project, in the northwest part of the Athabasca Basin, Saskatchewan, is comprised of nine mineral claims over 19,603 hectares. The Sun Dog project is highly prospective for basement and unconformity hosted uranium deposits yet remains largely untested by sufficient drilling despite its location proximal to uranium discoveries in the area.
For further information contact:
Jon Bey, Chief Executive Officer, and Chairman
Suite 918, 1030 West Georgia Street
Vancouver, British Columbia, V6E 2Y3
Tel: 1 (306) 850-6699
E-mail: info@standarduranium.ca
Cautionary Statement Regarding Forward-Looking Statements
This news release contains “forward-looking statements” or “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements include, but are not limited to, statements regarding: the timing and content of upcoming work programs; geological interpretations; timing of the Company’s exploration programs; and estimates of market conditions.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements are highlighted in the “Risks and Uncertainties” in the Company’s management discussion and analysis for the fiscal year ended April 30, 2023.
Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company’s actual financial results, performance, or achievements to be materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop forward-looking statements include, without limitation: that the transaction with the Optionee will proceed as planned; the future price of uranium; anticipated costs and the Company’s ability to raise additional capital if and when necessary; volatility in the market price of the Company’s securities; future sales of the Company’s securities; the Company’s ability to carry on exploration and development activities; the success of exploration, development and operations activities; the timing and results of drilling programs; the discovery of mineral resources on the Company’s mineral properties; the costs of operating and exploration expenditures; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); uncertainties related to title to mineral properties; assessments by taxation authorities; fluctuations in general macroeconomic conditions.
The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Images accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/62243619-84fd-4463-86bd-4782dd8af4f1https://www.globenewswire.com/NewsRoom/AttachmentNg/c97a818b-1b77-427b-a986-d430377b7fbe
FORTUNE BAY ANNOUNCES ADDITIONAL URANIUM STAKING AND PROVIDES UPDATE FOR MURMAC AND STRIKE URANIUM PROJECTS
https://www.newswire.ca/news-releases/fortune-bay-announces-additional-uranium-staking-and-provides-update-for-murmac-and-strike-uranium-projects-875166586.html
Fortune Bay Corp. Feb 21, 2024, 07:00 ET
HALIFAX, NS, Feb. 21, 2024 /CNW/ - Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQB: FTBYF) ("Fortune Bay" or the "Company") is pleased to announce the acquisition of two additional uranium projects through staking on the north-central margin of the Athabasca Basin, in proximity to the Company's recently announced Spruce, Pine and Aspen Uranium Projects (Figure 1).
Figure 1: Birch and Fir Uranium Projects. (CNW Group/Fortune Bay Corp.)
Gareth Garlick, Technical Director for Fortune Bay, commented "The acquisition of the Birch and Fir projects adds to our growing uranium portfolio of newly acquired, 100% owned projects on the north-central margin of the Athabasca Basin. This extensive portfolio now totals five new uranium projects covering over 40,000 hectares and provides Fortune Bay with further opportunity to create value through exploration and/or transactional success. The Birch and Fir projects have known uranium endowment with historical occurrences of up to 55.1% U3O8, in addition to Rare Earth Element potential with historical outcrop grades of up to 2.4% Total Rare Earth Elements."
In addition, the Company reports on progress for its Murmac and Strike Uranium Projects ("Murmac" and "Strike"), located on the north-western margin of the Athabasca Basin of Saskatchewan, for which an Option Agreement was recently signed.
Dale Verran, CEO for Fortune Bay, commented, "We are delighted with the progress Aero Energy Limited has made for Murmac and Strike, with exploration drilling planned to commence in the coming months. Together with Aero's award-winning technical advisory team, operational planning and prioritization of drill targets is well underway. Murmac and Strike present significant opportunity for the discovery of high-grade, basement-hosted uranium and we look forward to working with Aero to advance exploration, while retaining upside in future discovery."
Newly Staked Uranium Projects
Birch Project
The Birch Uranium Project ("Birch") comprises four mineral claims totalling 5,751 hectares located approximately 35 kilometres north of the Athabasca Basin margin, and has potential for unconformity-related, basement-hosted deposits and bulk tonnage Rössing-style uranium deposits. Birch remains underexplored with no drilling to date.
As follow-up to Government regional airborne radiometric surveys, historical prospecting between 1968 and 1970 identified widespread and voluminous uranium-bearing pegmatites in the Box Lake Area (Figure 1 – Birch Project Block A). Individual pegmatites were traced over lengths exceeding 150 metres and widths exceeding 30 metres, with average sampled grades ranging from 200 to 300 ppm. Notably, higher grades were also recorded where structures could be sampled with grades between 0.22% and 0.36% U3O8. Uranium mineralization included uraninite and carnotite staining. Exploration is warranted to, 1) re-investigate the pegmatite uranium occurrences, 2) establish the nature and extent of the structurally-associated higher grade uranium mineralization (which would be expected to predominantly occur in low-lying areas with sediment/water cover), and 3) explore for extensions of these two types of mineralization to the south-southwest into a large favorable hinge zone target area of structural complexity which appears to be largely unexplored. To the south (Figure 1 – Birch Project Block B), ground radiometric anomalies were identified during historical prospecting at Miller Lake (equivalent uranium grades of up to 861 ppm eU), within a smaller hinge zone, also warranting modern follow-up.
Fir Project
The Fir Uranium Project ("Fir") comprises a single mineral claim of 794 hectares located approximately ten kilometres north of the Athabasca Basin margin, and has potential for unconformity-related, basement-hosted deposits and bulk tonnage Rössing-style uranium deposits. Fir remains underexplored with no drilling to date.
A historical pebble sample assayed 55.06% U3O8, one of several radioactive pebbles found in a low-lying area covered by muskeg. An additional historical uranium occurrence of 0.24% U3O8 from an outcrop sample is present 400 metres to the southeast. The area is characterized by interpreted structural complexity at the intersection of east and northeast trending structures. Follow-up of the occurrence was limited to localized prospecting, and the occurrence warrants more detailed systematic follow-up, particularly in low-lying areas with surficial cover where structures are likely to exist.
In addition to the uranium potential, pegmatite outcrops enriched in Rare Earth Elements ("REE") were discovered during historical prospecting for uranium. This included an outcrop sample of 2.4% Total Rare Earth Elements ("TREE"), and a 400 x 200 m outcrop of "white granodiorite" displaying broadly elevated TREE content and highlight grades from four samples of 1.1% to 1.9% TREE. High-value Nd and Pr account for approximately 20% of the TREE content. These historical REE occurrences warrant follow-up to determine the extent and grades of the mineralization. Far northern Saskatchewan has a precedent for high-grade pegmatite REE deposits, including Alces Lake (grades up to 30% TREE), Bear Lake (16% TREE rock sample), and Hoidas Lake (historical NI 43-101 mineral resource estimate including 2.6 million tonnes at 2% TREE).
Similar to other recently announced uranium projects, Fortune Bay may seek to find a suitable partner/s to advance the Birch and Fir Projects through an earn-in, or similar agreement, that provides Fortune Bay with upside in future discovery.
Murmac and Strike Update:
On December 18, 2023 Fortune Bay Corp. announced that it had entered into an "Option Agreement" whereby 1443904 B.C. Ltd., an arms-length private company, was granted the right to acquire up to a 70% interest in the wholly-owned Murmac and Strike Uranium Projects over a three-and-a-half-year period by funding C$6 million in exploration expenditures, making cash payments totalling C$1.35 million, and issuing C$2.15 million in common shares following completion of a going public transaction (see News Release for further details)
On February 8, 2024, Aero Energy Limited (TSXV: AERO) (OTC Pink: AAUGF) (FSE: 13L0) ("Aero") completed the acquisition of 1443904 B.C. Ltd. pursuant to the terms of a share purchase agreement, thereby completing the going public transaction. Concurrent with completion of the acquisition, the Company has changed its name from "Angold Resources Ltd." to "Aero Energy Limited".
On February 13, 2024 Aero announced a non-brokered private placement for aggregate gross proceeds of $5,000,000. The gross proceeds received from the sale of the Flow-Through units and the Charity Units will be used for work programs on Aero's optioned properties including Murmac, Strike and Sun Dog (owned by Standard Uranium Ltd.), all located along the northwestern margin of the Athabasca Basin of Saskatchewan.
In accordance with the Option Agreement Fortune Bay has received the initial $200,000 cash payment and the initial $200,000 in common shares (1,333,333 shares using a transaction price of $0.15 per share).
Planning is ongoing for drilling programs to commence at Murmac and Strike during 2024 on numerous high-priority targets that have been identified with the potential for a high-grade basement-hosted uranium discovery.
Correction to Previously Announced Deferred Share Unit Grant
On January 10, 2024, the Company announced the grant of Deferred Share Units ("DSUs") to certain directors and officers. It was noted that 150,000 DSUs were granted to the directors of the Company to settle director fees for the year ended December 31, 2023. The number of DSUs granted should have been stated to be 200,000. The DSUs will vest in accordance with the Company's deferred share unit plan.
Technical Disclosure
The historical results contained within this news release have not been verified and there is a risk that any future confirmation work and exploration may produce results that substantially differ from the historical results. The Company also cautions that historical results on adjacent properties are not necessarily indicative of the results that may be achieved on the Project. The Company considers these historical results relevant to assess the mineralization and economic potential of the property. Further details regarding the historical occurrences mentioned in this news release can be found within the Saskatchewan Mineral Deposit Index ("SMDI") using the reference numbers provided in Figure 1. Additional information has been obtained from historical reports found within Saskatchewan Mineral Assessment Database ("SMAD") with the following Assessment File Numbers 74O10-0002, 74O10-0003, 74O10-0008 (Birch Project), and 74O09-0023, MAW02300 (Fir Project). Details regarding the other REE occurrences in far northern Saskatchewan can be found using the following references/links: Alces Lake: Appia Rare Earths and Uranium Corp. (https://appiareu.com/alces-lake/); Bear Lake: SMDI#3571; Hoidas Lake: SMDI#1612.
Qualified Person
The technical and scientific information in this news release has been reviewed and approved by Gareth Garlick, P.Geo., Technical Director of the Company, who is a Qualified Person as defined by NI 43-101. Mr. Garlick is an employee of Fortune Bay and is not independent of the Company under NI 43-101.
About Fortune Bay Corp.
Fortune Bay Corp. (TSXV:FOR, FWB:5QN, OTCQB:FTBYF) is an exploration and development company with 100% ownership in two advanced gold exploration projects in Canada, Saskatchewan (Goldfields Project) and Mexico, Chiapas (Ixhuatán Project), both with exploration and development potential. The Company is also advancing seven uranium exploration projects on the northern rim of the Athabasca Basin, Saskatchewan, which have high-grade potential. The Company has a goal of building a mid-tier exploration and development Company through the advancement of its existing projects and the strategic acquisition of new projects to create a pipeline of growth opportunities. The Company's corporate strategy is driven by a Board and Management team with a proven track record of discovery, project development and value creation. Further information on Fortune Bay and its assets can be found on the Company's website at www.fortunebaycorp.com or by contacting us as info @calmanmf-1919.
On behalf of Fortune Bay Corp.
"Dale Verran"
Chief Executive Officer
902-334-1919
Cautionary Statement Regarding Forward-Looking Information
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Words such as "expects", "aims", "anticipates", "targets", "goals", "projects", "intends", "plans", "believes", "seeks", "estimates", "continues", "may", variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements.
Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals, intentions or future plans, statements, exploration results, potential mineralization, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify targets or mineralization, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, inability to reach access agreements with other Project communities, amendments to applicable mining laws, uncertainties relating to the availability and costs of financing or partnerships needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. 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, other than as required by law. For more information on Fortune Bay, readers should refer to Fortune Bay's website at www.fortunebaycorp.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Fortune Bay Corp.
For further information: Dale Verran, Chief Executive Officer, 902-334-1919
Stallion Uranium Completes Largest Airborne Geophysical Survey in Southwestern Athabasca Basin
https://ca.finance.yahoo.com/news/stallion-uranium-completes-largest-airborne-110000416.html
Stallion Uranium Corp.
Wed, February 21, 2024 at 3:00 a.m. PST·4 min read
SASKF
0.00%
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Survey Area Covered Over 2,200km2 with Preliminary Results Revealing Over 560 km of New Conductive Trends
Figure 1 –
Stallion / Atha’s Western Athabasca Project – AFMAG Survey Results
VANCOUVER, British Columbia, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Stallion Uranium Corp. (the "Company" or "Stallion") (TSX-V: STUD; OTCQB: STLNF; FSE: HM40) is pleased to announce the preliminary results from the completion of the MobileMTTM airborne geophysical survey (the “Survey”). The Survey covered the entire 2,200 sq/km of the Atha Energy (CSE: SASK) JV Uranium Project (the “Project”), a new frontier of exploration in the prolific southwestern Athabasca Basin and part of the largest exploration land package held by Stallion.
Highlights
Over 560 km of new basement conductive trends have been outlined.
Successfully identified and extended the Patterson Lake Corridor, Carter Corridor, Derkson Corridor, R7 Corridor, Virgin River Conductive Trend and the Coyote Corridor across the project.
Large multi-kilometer conductive trends coincide with basement structures interpreted to be present in multiple locations across the project.
The latest in 2D and 3D inversion processing will be utilized to further identify sandstone and basement alteration zones associated with uranium mineralization in the basin.
“Stallion’s strategy to build out the largest exploration land package, taking on a new frontier of exploration in the southwestern Athabasca Basin, has been rewarded with the results of this regional survey,” stated Drew Zimmerman, CEO. “Utilizing the latest survey technology we have transformed an underexplored land package, uncovering hundreds of kilometers of conductive trends that are highly prospective target areas for uranium mineralization. Not only have we extended known prolific conductive corridors, but we have also been able to uncover completely new zones. We believe the process of identifying, prioritizing, and advancing the best targets from over 2,200sq/km gives our team the potential and probability of finding the next significant uranium discovery.”
Preliminary Results
The preliminary interpretation of the survey data has changed the landscape in a meaningful way, successfully identifying over 560 km of new conductive trends across the Atha Energy JV Project. This opens a new frontier of exploration in the southwestern Athabasca Basin, as the project area has never had effective exploration. With the completion of the survey, the company has been able to identify and extend new conductive corridors that were previously unknown (shown in Figure 1). These new conductive corridors will be the cornerstone that the next phase of exploration is built on. The survey was able to identify structural complexities, including bends and splays, in the basement geology which suggest favorable conditions for uranium mineralization. These results, along with the advanced 2-D and 3-D inversion modeling, will be used to prioritize the newly identified conductor corridors for the next stages of exploration.
Darren Slugoski, VP of Exploration commented, “We are incredibly excited to see the quality and number of targets that were identified by the completion of the regional MobileMT survey. The 560 km of conductive corridors identified greatly exceeded our expectations. This survey provides Stallion with a significant number of high priority target areas the company can prioritize and advance towards the drilling.”
Stallion / Atha’s Western Athabasca Project – AFMAG Survey Results
Figure 1 – Stallion / Atha’s Western Athabasca Project – AFMAG Survey Results
Survey Objectives
Expert Geophysics Ltd. (“Expert”) completed 11,875 line-kilometres of MobileMTtm covering the entirety of Stallion’s Atha Energy JV Project in the Southwestern Athabasca. The objective of the survey was to identify new conductive trends over claims which have not been effectively or thoroughly surveyed for uranium. Stallion’s goal was to identify and open new highly prospective areas for uranium exploration.
Basement and unconformity-related uranium deposits in the Athabasca Basin are usually associated with conductive graphitic rocks in the basement which are detectable with the helicopter-borne MobileMT™ system. MobileMT is the latest innovation in airborne electromagnetic technology and the most advanced generation of airborne AFMAG technologies utilizing naturally occurring electromagnetic fields which are capable of detecting the conductivity of basement rocks to a depth of over 1,000 meters.
Next Steps
Stallion will now be putting the AFMAG data through advanced digital processing, including 2D and 3D inversions. This advanced modeling of the data will allow for a better analysis and prioritization of the numerous conductive trends uncovered across the project. The top tier areas will be prioritized for further exploration as the company looks to advance tier one targets toward readiness for drilling testing in its efforts to find the next significant uranium deposit in the Athabasca Basin.
Qualifying Statement
The foregoing scientific and technical disclosures for Stallion Uranium have been reviewed by Darren Slugoski, P.Geo., VP Exploration, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Mr. Slugoski is a Qualified Person as defined by National Instrument 43-101.
About Stallion Uranium
Stallion Uranium is working to Fuel the Future with Uranium through the exploration of over 3,000 sq/km in the Athabasca Basin, home to the largest high-grade uranium deposits in the world. The company, with JV partner Atha Energy (CSE:SASK), holds the largest contiguous project in the Western Athabasca Basin adjacent to multiple high-grade discovery zones.
Our leadership and advisory teams are comprised of uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties.
Stallion offers optionality with two gold projects in Idaho and Nevada that neighbour world class gold deposits offering exposure to upside potential from district advancement with limited capital expenditures.
For more information visit stallionuranium.com or contact:
Drew Zimmerman
Chief Executive Officer
778-686-0973
info@stallionuranium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”) that relate to the Company’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this material change report should not be unduly relied upon. These statements speak only as of the date they are made.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/02a6f96d-e7fe-4151-a90a-0d17f6d4a6f6
Lexston Mining will be applying for Exploration Permits for ITZA and 176 Uranium Projects in the Thelon Basin, Nunavut
https://thenewswire.com/press-releases/1AqRFG9Ev-lexston-mining-corporation-will-be-applying-for-exploration-permits-for-itza-and-176-uranium-projects-in-the-thelon-basin-nunavut.html
Vancouver, British Columbia – TheNewswire -- February 21, 2024. Lexston Mining Corporation (the “Company” or “Lexston”) (CSE: LEXT) (OTC: LEXTF) (Frankfurt: W5G) is pleased to announce that its contractor, Lockett Consultation Services Inc., will be applying for the required exploration permits for the Company’s proposed summer geophysical program at Itza and 176 Projects (the “Properties”) in the Thelon Basin in the Kivalliq Region of Nunavut, occupying an area of 11,350 hectares.
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The Company identifies the following advantages:
The Properties represent a strong land position in the Thelon Basin;
Extensive historical data available on the Properties to guide exploration planning;
Historical high-grade uranium occurrences; including a historical pebble sample (#1708, Boulder SN-176) retrieved during boulder prospecting returned 4,000 counts per second (cps) using a scintillometer and assayed 332,000 ppm U (39.15% U 1.
Previous exploration programs terminated without extensive drill testing;
A portfolio that covers the spectrum from conceptual exploration targets to near-drill ready targets.
Lockett Consultation Services Inc. will work closely with all Regulatory Agencies including, Crown Indigenous Relations and Northern Affairs Canada (CIRNAC) for the necessary permits and licenses. The Company will initiate engagement and consultations with local knowledge holders and stakeholders, which will continue throughout all the phases of permitting, exploration, and closure. The Company will provide updates on the scheduling of its permitting and work program as and when they are available.
Lexston’s proposed 2024 field program includes:
A minimum of an 8 line-kilometre, ground-based Induced Polarization (IP) resistivity-chargeability geophysical survey.
Complete high-resolution airborne VTEM geophysical survey with attempts to add resolution to the basement conductors and anomalies identified in previously flown regional fixed wing surveys.
Complete a high-resolution airborne Gravity geophysical survey.
Scintillometer-assisted prospecting and reconnaissance level geochemical sampling.
Prior to the field season, the Company aims to complete a historical database compilation and intends to re-process previously completed geophysical data with the aims of evaluating the Properties with new geological theory.
Jag Bal, President, and CEO of Lexston states, “Our 11,350 hectares in the prolific Thelon Basin, offers an exciting opportunity to explore a Resource-Rich basin with significant upside potential, similar to the Athabasca Basin. We are looking forward to our work program this season, which in turn will assist us in developing a successful drill program.”
About Lexston Mining Corporation
The Company is a Canadian mineral exploration company, focused on the acquisition and development of mineral projects, with the objective to enhance value to all its stakeholders. The Company has a mineral exploration project in British Columbia, Canada.
Qualified Person
The technical information contained in this news release has been reviewed by Scott Dorion, P.Geo. Mr. Dorion is a qualified person as defined by National Instrument 43-101.
1 Historical Data: This news release includes historical information that has been reviewed by Lexston’s qualified person (“QP”). Lexston’s review of the historical records and information reasonably confirm the validity of the information presented in this news release; however, Lexston cannot directly verify the accuracy of the historical data, which includes (but not limited to) the procedures used for sample collection and analysis. Therefore, any conclusions or interpretations that may arise from the respective data should be considered too speculative to suggest that additional exploration will result in mineral resource delineation. Lexston encourages readers to exercise appropriate caution when evaluating results based on historical data.
2 Exploration Target(s): Exploration targets and/or Exploration zones and/or Exploration areas are speculative and there is no certainty that any future work or evaluation will lead to the definition of a mineral resource.
On Behalf of the Board of Directors
LEXSTON MINING CORPORATION
Jagdip Bal
Chief Executive Officer
Telephone: (604) 928-8913
Email: info@lexston.ca
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Forward-looking statements
This news release contains "forward-looking information" under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, objections by aboriginal people, delays in obtaining governmental approvals and permits, obtaining consents of aboriginal people and other risks in the mining industry.
These statements include but are not limited to obtaining exploration permits, possible acquisitions and exploration of uranium or other properties, liquidity of the common shares of the Company and future financings of the Company. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the acquisition of new properties, liquidity of the common shares of the Company, financings, the market valuing the Company in a manner not anticipated by management of the Company. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company does not undertake to publicly update or revise forward-looking information.
The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
Tisdale Clean Energy Mobilizes Crew and Equipment for Phase One Drill Program at South Falcon East Uranium Project, Athabasca Basin, Saskatchewan
https://thenewswire.com/press-releases/1AqRFGxdx-tisdale-clean-energy-mobilizes-crew-and-equipment-for-phase-one-drill-program-at-south-falcon-east-uranium-project-athabasca-basin-saskatchewan.html
Vancouver B.C., February 20, 2024 – TISDALE CLEAN ENERGY CORP. (“Tisdale” or the “Company”) (TSXV:TCEC) (OTC:TCEFF) (FSE:T1KC), is pleased to confirm that crew and equipment has begun mobilization for its upcoming work program at the South Falcon East Uranium Project which hosts the Fraser Lakes B uranium deposit. The south Falcon East Project lies 18 km outside the edge of the Athabasca Basin, approximately 50 km east of the Key Lake uranium mill and former mine.
Tisdale Clean Energy Corp entered into an option agreement with SkyHarbour Resources Ltd in October of 2022 whereby the company can earn up to a 75% interest in the South Falcon East property.
The initial phase one program will consist of up to approximately 1,500 meters of drilling. The priority will be to confirm and expand the existing mineralization associated with the Fraser Lakes B Uranium Deposit (Figure 2). Infill drilling will confirm the presence and continuity of existing mineralization in preparation for a current updated resource estimate and 3D model in the future. Step out drilling will endeavor to expand the footprint of the deposit, as the current mineralization is open in all directions. Initial focus will be in extending mineralization along strike and down dip into the basement.
A secondary priority will be to begin regional exploration by following up promising anomalies located in the T-Bone Lake area (Figure 2). Regional drilling will focus on the effort to add additional mineralized zones and deposits along the folded structural package that hosts the Fraser Lakes B Deposit.
“We are happy to finally be getting on the ground at South Falcon East,” commented Trevor Perkins, Consulting Geologist for Tisdale. “This program will be the first step to confirming and expanding the Fraser Lakes B Uranium Deposit. We believe that the size and grade of the existing deposit can be increased and are confident we can discover new deposits in the vicinity. We anticipate several exciting years ahead as we advance the South Falcon East Project,” continued Mr. Perkins.
The field program is anticipated to commence within days and will be executed by Terralogic Exploration Inc. under the supervision of Laura Tennent, Project Manager with TerraLogic Exploration, and C. Trevor Perkins, consulting geologist for Tisdale. The drill program will be operating out of Skyharbour’s McGowan Lake Camp with helicopter support for the daily drilling operations. The expected budget for the initial phase one program is anticipated to be $1.25 million.
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Figure 1: South Falcon East Project Location – Eastern Athabasca Basin, Saskatchewan, Canada
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Figure 2: 2024 Drill Target areas at the south Falcon East Uranium Project
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Figure 3: South Falcon East Project – Camp and drilling location Map
About the South Falcon East Project
The South Falcon East Project is a uranium exploration project in the southeast Athabasca Basin and represents a portion of Skyharbour Resources Ltd.’s existing South Falcon Project. The project covers approximately 12,464 hectares and lies 18 kilometers outside the Athabasca Basin, approximately 50 kilometers east of the Key Lake Mine.
The South Falcon East Project contains the Fraser Lakes B Uranium/Thorium Deposit with a historic mineral resource* of 6.9 Mlbs U3O8 inferred at a grade of 0.03% U3O8 and 5.3 Mlbs ThO2 inferred at a grade of 0.023 % ThO2. Uranium and thorium mineralization discovered to date is shallow classic Athabasca-style basement mineralization associated with well-developed EM conductors.
About Tisdale Clean Energy Corp.
Tisdale Clean Energy is a Canadian-based uranium exploration and development company. The Company is currently developing the South Falcon East uranium project, which holds a 6.96M pound inferred uranium resource within the Fraser Lakes B uranium/thorium deposit, located in the Athabasca Basin region, Saskatchewan, Canada.
Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by C. Trevor Perkins, P.Geo., a Consulting Geologist for the Company, and a Qualified Person as defined by National Instrument 43-101.
*The historical resource is described in the Technical Report on the South Falcon East Property, filed on sedar.com on February 9, 2023. The Company is not treating the resource as current and has not completed sufficient work to classify the resource as a current mineral resource. While the Company is not treating the historical resource as current, it does believe the work conducted is reliable and the information may be of assistance to readers.
ON BEHALF OF THE BOARD OF TISDALE CLEAN ENERGY CORP.
“Alex Klenman”
Alex Klenman, CEO
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.
For further information please contact:
Alex Klenman, CEO
Tel: 604-970-4330
info@tisdalecleanenergy.com
Tisdale Clean Energy Corp
Suite 2200, HSBC Building, 885 West Georgia St.
Vancouver, BC V6C 3E8 Canada
www.tisdalecleanenergy.com
Bayridge Signs Letters of Intent to Acquire Interests in Two Uranium Exploration Properties in the Athabasca Basin
https://www.newsfilecorp.com/release/197825
February 14, 2024 6:00 AM EST | Source: Bayridge Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - February 14, 2024) - Bayridge Resources Corp. (CSE: BYRG) ("Bayridge" or the "Company") is pleased to announce that it has entered into Letters of Intent ("LOI") with CanAlaska Uranium Ltd. ("CanAlaska") to allow the Company to earn up to an 80% interest in each of CanAlaska's Waterbury East and Constellation Projects (the "Projects") in the Athabasca Basin, Saskatchewan.
Under the terms of the LOIs, Bayridge may earn up to an 80% interest in each of the Projects by undertaking work and making cash and share payments in three defined earn-in stages: an initial 40% interest (Stage 1), an additional 20% interest for a total 60% interest (Stage 2), and an additional 20% interest for a total 80% interest (Stage 3).
The LOI contemplates the following work and payment obligations for each earn-in stage:
Waterbury East Project
Stage 1 (40% interest): Pay $265,000 cash, issue $370,000 of common shares of Bayridge ("Common Shares"), and incur $1,500,000 in exploration expenditures within 18 months of the date of the definitive agreement (the "Waterbury East Agreement Date");
Stage 2 (60% interest): Pay a further $220,000 cash, issue an additional $385,000 of Common Shares, and incur a further $1,500,000 in exploration expenditures within 12 months of commencing the Stage 2 earn-in (approximately 2.5 years after the Waterbury East Agreement Date); and
Stage 3 (80% interest): Pay a further $275,000 cash, issue an additional $550,000 of Common Shares, and incur an additional $2,000,000 in exploration expenditures within 12 months of commencing the Stage 3 earn-in (approximately 3.5 years after the Waterbury East Agreement Date).
Constellation Project
Stage 1 (40% interest): Pay $225,000 cash, issue $315,000 of common shares of Bayridge ("Common Shares"), and incur $1,500,000 in exploration expenditures within 18 months of the date of the definitive agreement (the "Constellation Agreement Date");
Stage 2 (60% interest): Pay a further $165,000 cash, issue an additional $290,000 of Common Shares, and incur a further $1,500,000 in exploration expenditures within 12 months of commencing the Stage 2 earn-in (approximately 2.5 years after the Constellation Agreement Date); and
Stage 3 (80% interest): Pay a further $210,000 cash, issue an additional $415,000 of Common Shares, and incur an additional $2,000,000 in exploration expenditures within 12 months of commencing the Stage 3 earn-in (approximately 3.5 years after the Constellation Agreement Date).
With respect to each Project, after successful completion of (a) Stage 1, if Bayridge elects to not enter the next stage or fails to make the Stage 2 option payments when and as required; or (b) Stage 2, if Bayridge elects to not enter the next stage or fails to make the Stage 3 option payments when and as required; or (c) Stage 3, a joint venture will be formed and the parties will either co-contribute thereafter on a simple pro-rata basis or dilute on a pre-defined straight-line dilution formula. Any party diluting to a 10% interest will automatically forfeit its interest in the Project and in lieu thereof will be granted a 2% net smelter return royalty on the Project.
All Common Shares issued to CanAlaska under both option agreements will be subject to a hold period expiring four months and one day after their date of issue pursuant to applicable Canadian securities laws. In addition, CanAlaska has agreed to voluntary resale restrictions on such shares whereby 25% of the shares will be released from voluntary resale restrictions 3, 6, 9 and 12 months after their issue date.
During all stages of both option agreements, Bayridge will be operator of the Projects and will be entitled to charge an operator fee. Bayridge will have deciding voting rights on annual exploration programs while sole funding at the various option stages. An Area of Mutual Interest will extend two kilometres from the outer boundary of the Projects, excluding all properties within such area that are currently held by CanAlaska at time of signing the definitive agreement.
Bayridge is currently conducting due diligence on the properties comprising the Projects. Upon successful due diligence, the parties will work towards finalizing and executing a formal agreement. Completion of the transactions contemplated under the LOIs is subject to a number of standard conditions for transactions of this nature, including, among other things, the negotiation and execution of definitive option agreements, and the approval of the Canadian Securities Exchange. Bayridge will provide updates on this transaction if and when they become available.
Bayridge CEO, Charn Deol, comments, "Bayridge is excited that the company was able to negotiate LOIs for two uranium exploration projects in the prolific Athabasca region of Canada, which is one of the world's leading sources of high-grade uranium and currently supplies approximately 15% of the world's uranium."
Update on Sharpe Lake Property
The Company would also like to provide an update on its Sharpe Lake property located in Ontario. As described in the Company's final prospectus dated November 10, 2023, the Company has the right to acquire a 100% interest in the Sharpe Lake property, subject to a 3% net smelter royalty, by making certain cash and share payments, and by completing certain exploration expenditures on the property. To date, the Company has engaged a contractor to carry out an airborne survey on the property and has paid a down payment in connection therewith. The Issuer intends to carry out the airborne survey and the rest of the phase 1 exploration program in the Spring or Summer of 2024, once weather conditions permit.
About Bayridge Resources Corp.
Bayridge Resources Corp. is a mining exploration company concentrating on battery metals projects. Currently, the Company operates a lithium exploration project in Ontario, the Sharpe Lake property.
For more information, please contact:
Charn Deol, Director and Chief Executive Officer
E-mail: charnee@gmail.com
Tel: ? 604-760-1781
Forward-looking information
All statements included in this press release that address activities, events or developments that Bayridge expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements may involve, but are not limited to, statements with respect to: the terms of the proposed option agreements with CanAlaska; the execution of definitive option agreements; the performance of Bayridge's obligations under the option agreements and the exercise of Bayridge's options thereunder; the terms of the proposed joint venture between Bayridge and CanAlaska; approval by the Canadian Securities Exchange of the transactions contemplated under the LOIs; and the Company's plans with respect to the Sharpe Lake property. These forward-looking statements involve numerous assumptions made by Bayridge based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond Bayridge's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, Bayridge does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
The CSE has not reviewed, approved, or disapproved the contents of this press release.
SOURCE: Bayridge Resources Corp.
Hertz Energy Enters Agreement to Acquire Cominco Uranium Property
https://www.newsfilecorp.com/release/197680
February 13, 2024 9:20 AM EST | Source: Hertz Energy Inc.
Vancouver, British Columbia--(Newsfile Corp. - February 13, 2024) - Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QE2) (the "Company") is pleased to announce that it has entered into a Property Purchase and Sale Agreement dated February 2, 2024 (the "Definitive Agreement") with BullRun Capital Inc. (the "Vendor") pursuant to which the Company has agreed to acquire the Cominco Uranium Project, located in Bathurst Inlet, Nunavut, Canada (the "Cominco Property").
PURCHASE AGREEMENT
The Company has entered into the Definitive Agreement to acquire the Cominco Property. Pursuant to the terms and conditions of the Definitive Agreement and as consideration for the acquisition of a 100% undivided interest in the Cominco Property, the has agreed to:
Reimburse the Vendor acquisition costs to date estimated not to exceed $75,000; and
grant the Vendor a two percent (2%) net smelter returns royalty on the Cominco Property.
Mr. Kal Malhi, CEO of Hertz states, "Hertz was always founded and positioned to explore for mineral deposits that will power the future. We started with our Lucky Mica project and have added the AC/DC Lithium Project, while also obtaining options to acquire the Snake and Patriota Lithium Projects, since our listing in April 2023. Adding the Cominco Property fits extremely well with our energy metals offering and we aim to aggressively explore both the lithium and uranium mineral projects and continue to offer investors a well-diversified energy metals project portfolio."
The Vendor is wholly-owned by Kal Malhi, a director and officer of the Company. Accordingly, the Company's acquisition of the Cominco Property constitutes a "related party transaction" as defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"). The Company is relying on the exemption from valuation requirement and minority approval pursuant to subsection 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, for its acquisition of the Cominco Property, as the value of the consideration to be paid by the Company for the acquisition of the Cominco Property does not represent more than 25% of the Company's market capitalization, as determined in accordance with MI 61-101.
COMINCO URANIUM PROPERTY
The Cominco Property is focused on two main uranium showings of interest, the Pomie and the Yon showings in Nunavut (see Figure 1 below). Additional showings of uranium, copper, gold, nickel, and lead are known in the area. The Pomie and Yon showings were both explored in the mid 1970s by Cominco and Noranda and no work using modern exploration technologies has taken place since.
Previous regional work in the area by the Geological Survey of Canada (GSC) identified mineral potential for uranium in the area (Roscoe, 1984), based on the presence of the above showings and favourable stratigraphy for the formation of Unconformity Related Uranium (URU) deposits, similar to the stratigraphy found in the Athabasca and Thelon basins.
The Cominco Property covers the Yon and Pomie "Advanced Exploration" stage showings and is comprised of four licensing spanning 5,046.25 hectares covering favourable geology.
The two main uranium showings on the Cominco Property, the Yon and Pomie showings, are described in greater detail below. There are other smaller occurrences usually associated with copper mineralization in the region.
Figure 1: Geographical map highlighting location of Pomie and Yon showings
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9656/197680_ed0d7b7794ef59d8_002full.jpg
Pomie Uranium Showing
The Pomie showing lies at the south end of Bathurst Lake, located near the Western River outflow into Bathurst Inlet (see Figure 2 below). The Pomie showing was explored by Cominco Ltd. in 1976 and 1977, following a regional airborne radiometric survey conducted in 1975 (Wright and Heddle, 1977). In 1977, Cominco drilled seven BQ-sized holes totalling 420m on the Pomie showing and determined that the mineralization was associated with the basalt.
The following summary is quoted from Nunavut Mineral Occurrence Database for the Pomie showing ID 076JSW0003.
Capsule Geology - Cominco Ltd 1977
"The Pomie prospect has the most significant uranium mineralization in bedrock discovered to date in the Bathurst Inlet region. There are two favourable intracratonic sedimentary basins in the region, namely the Kilohigok and Elu basins of Paleoproterozoic and Mesoproterozoic age, respectively. Main uranium exploration thrust in the region was during 1975-'81, which involved mostly the reconnaissance type work by major companies, namely Cominco, E & B Explorations, Noranda, S.E.R.U. Nucleaire, Aquitaine, Essex, Gulf and Giant Yellowknife."
Deformation/Setting
"Open folding and fracturing in the host strata of Pomie prospect are related to the Bathurst Inlet faults. The strata are part of the uppermost formation of the Goulburn Group. The group is essentially coeval with the Coronation Supergroup of the Wopmay orogen to the west deposited during 2000-1890 Ma, as well to the Great Slave Supergroup to the southwest. NNW-trending Bathurst faults are coeval with the ENE-trending faults of the Great Slave Shear Zone. Both are related to the terminal collision in the north-trending Wopmay orogen ca. 1883 Ma. Fanglomerates and associated sediments were deposited in grabens formed by these faults. They comprise the Mesoproterozoic Tinney Cove Formation in Bathurst Inlet and Et-Then Group in East Arm of Great Slave Lake. Basal unconformity of these sediments is marked by paleo-weathering. Hence they are favourable for Unconformity-associated uranium mineralization. This also applies to the Ellis Formation overlying the Tinney Cove Formation. Whether the mineralization at Pomie prospect is related to unconformity is debatable. The 1022 Ma pitchblende age reported here is permissive in this regard."
Mineralization
"A sample of arkose from Trench 9 assaying 87 lbs U3O8 per ton (36.888 kg U/metric tonne or 3.689 % U) was examined in polished section (Wright, 1976; Roscoe, 1984). Radioactive material is extremely fine grained and disseminated in matrix of quartz grains, clay minerals and minor sulphides (pyrite and chalcopyrite). A sample of basalt from Trench 9 assaying 130 lbs U3O8 per ton (5.512 % U; note: check assay of 89 lbs U3O8 /ton) gave essentially the same result, mineralization being finely disseminated in the matrix and coating grains of sulphides. A linear concentration of fracture-filling was noted. A scanning electron microscope study of this radioactive material indicated mainly U with minor Si, Fe and Ca suggesting that uraninite is the uranium mineral with minor impurities of quartz, iron oxides and calcite. The best grade encountered at surface was 41.96 lbs U3O8/ton (1.779 % U) over 13.0 feet (3.96 m) in Trench 9 at the south end of the main mineralized zone adjacent to a large area of drift and muskeg."
Yon Uranium Showing
The Yon showing was explored by Noranda commencing with radiometric surveys and reconnaissance work conducted in 1976 followed by mapping, prospecting, and trenching in 1977.
The Yon showing lies on the eastern side of Bathurst Inlet and is hosted in the Western River Formation (see Figure 2 below). Vein-hosted mineralization occurs within brecciated Western River Formation rocks. Mineralization is fault controlled, bounded to the east and west by the Grizzly and McLaughlin faults and occurs above the east trending Coliver fault.
The following summary is quoted from Nunavut Mineral Occurrence Database for the Yon showing ID 076JNW0005.
Capsule Geology: Noranda Inc. 1977
"A regional airborne radiometric survey in 1976 by Noranda detected anomalies in a thick sequence of green and grey siltstones, which on the ground gave readings of total 6000 to 10000 cpm on McPhar TV-1 spectrometer. However, these anomalies led to discovery of mineralized talus to the southwest on the east face of a sandstone ridge. The showing was explored by mapping and trenching during 1976 -1977. Further prospecting led to located veins on both sides of the ridge. Considerable surface exploration was done on the prospect in 1977, but no drilling has been done. 13 trenches in 350 x 400 m area; best assay from a 1.5 m channel sample across a vein: 0.33 % U and 0.4 % Cu."
Mineralization
"Widely spaced fracture-filling suggests a large but weak mineralizing system. The country rocks and host rocks include a large proportion of sandstones that are favourable for sandstone-type uranium mineralization. They are faulted and locally highly tilted but are essentially unmetamorphosed. The YON prospect is close to the basal unconformity of the Western River Formation with the Archean basement, and there is some development of paleoregolith on the basement. Granitoid rocks in the basement are potential source rocks for the uranium seen in the veins. One of the 11 grab samples assayed in 1976 gave the following best metal values: 0.644 % U3O8 (0.456 % U), 1.23 % Cu, 0.62 oz/ton Ag and 0.005 oz/ton Au."
Figure 2: Geological map highlighting the Pomie and Yon showings
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9656/197680_ed0d7b7794ef59d8_003full.jpg
UPDATE ON THE COMPANY'S PROPERTIES
AC/DC Lithium Project - James Bay, Canada
The AC/DC Lithium Project is district size at 265km2 and adjoins and shares similar geology to Rio Tinto's Kaanaayaa Lithium Project in James Bay, Quebec. The AC/DC Lithium Project is also amidst large lithium discoveries by Patriot Battery Metals' 109Mt Corvette lithium discovery, Winsome Resources' 59Mt Adina Discovery, Brunswick Exploration Mirage lithium discovery, Loyal Lithium Trieste lithium discovery and Azimut Exploration and Midland/Rio Tinto's respective Galinee Projects.
Snake Lithium Project - James Bay, Canada
The Snake Lithium Project spans 217km2 located next to drill ready lithium discoveries by Brunswick Lithium's Arwen (Elrond) lithium discovery, Harfang Exploration's Serpent lithium discovery and Quebec Precious Metals' Ninaaskumuwin lithium discovery. The Company holds an option to acquire the Snake Lithium Project from Sirios Resources Inc.
Lucky Mica Lithium Project - Arizona, USA
The Lucky Mica Project covers 939 hectares in Maricopa Country, Arizona along the Arizona Pegmatite Belt and sits between Patriot Lithium's projects. The area is easily accessible through the public road network and is approximately 105 km northwest of Phoenix. SGS Canada Inc. has defined a target envelope tonnage of between 330,000 and 551,000 tonnes to a depth of 60m with average grades between 0.3% and 2.5% Li2O.
Patriota Lithium Project - Minas Gerais, Brazil
The Patriota Lithium Project is located in Minas Gerais, Brazil. The tenements cover 2,963.7 hectares in proximity to areas of economically significant lithium deposits including Sigma Lithium's green lithium mine, Ionic Lithium's Itinga and Salinas projects and CBL's Cachoeira mine. The Company holds an option to acquire the Patriota Lithium Project from Brascan Resources Inc. and RTB Geologia e Mineracao LTDA.
2024 EXPLORATION STRATEGY
The Company is committed to advancing its well diversified energy metals portfolio and recently closed a $1.5M charity flow-through financing which will be solely dedicated to its lithium projects in Quebec. The Company also recently closed a $1.037M non-flow-through financing which will be dedicated towards its extraction technology, exploration at its Lucky Mica Project, consulting/management fees, marketing/IR, the acquisition of the Cominco Property, and general and administrative matters.
The company will remain heavily focused on its lithium assets located in James Bay, Quebec. Lithium is not a fad but foundational to the energy transition away from fossil fuels. We firmly believe that as the cost of electric vehicles continues to fall, adoption rates will continue to soar. Governments have implemented policies that virtually ensure widespread adoption across much of the world.
Despite new lithium mines coming online, demand remains relentless as growth in EVs continues to outpace expectations.
LITHIUM SUMMARY
As of January 31, 2023, lithium prices and capital markets valuations for lithium explorers have taken a dip from the high lithium prices of early 2023. The Company continues to believe that lithium is the metal of our generation and will continue to be needed to meet the expanding demand. A recent quote from respected industry advisor John Kaiser summarized lithium as the metal for the future shift to electric power and the upcoming technologies that will make EV's affordable by the government mandates to eliminate gas powered vehicles from the roads across the world.
ABOUT LITHIUM
"As nationalism of critical metals is in FastTrack mode, especially in China, the West remains committed to the energy transition. Not only must exploration and development within these territories replace supply that came from the East, but also secure supply to meet the extra demand created by these energy transition needs. Since the EV sector growth is something that comes in waves, there tends to be regular imbalance between surges in supply and demand. China has been the primary driver of lithium demand because its EV deployment has been driven by the desire to escape import dependency on oil as a transportation fuel.
The current reality is that for ordinary people good EV's like Tesla's are too expensive, and the cheap models such as BYD products are inferior in terms of how long one can drive before refueling, where to refuel and how long to refuel. This is the reason Toyota avoided charging into the EV sector and instead chose to focus on hybrids while working on hydrogen leapfrog technology. The latter, however, is for a future decade because there is nothing happening to create widespread hydrogen refueling stations whereas electricity supply is ubiquitous, you just need a place to park and plug in.
TOYOTA DEVELOPMENT
The Japanese brand was late to the EV party but plans a dramatic expansion in models and innovative battery technology; it's planning to sell 3.5 million EVs annually across 30 different Toyota and Lexus model lines by 2030.
Long-range battery packs will provide up to 500 miles of range by 2026 and 620 miles by 2027.
Toyota is aiming to introduce solid-state batteries in 2027, which will be capable of ultra-fast 10 minute recharge times from 10 to 80 percent state of charge.
If Toyota is committed to their new technology, and has figured out how to build a solid state lithium-ion battery that uses lithium as the anode instead of graphite, which facilitates ranges over 1,000 km on 10 minute charge times, and, because it is based on a manufacturing breakthrough rather than some new configuration which requires a scarce and expensive input such as scandium or even worse iridium, has the potential to undergo further efficiencies just as has happened with solar panels. Toyota will be able to offer affordable an EV Camry and Corolla by 2030, provided there is enough lithium supply in place to do so.
But groups like Albermarle, SQM and Australia based mineral exploration titan Gina Reinhart know, which is why Gina and SQM are paying the equivalent of AUD $2.7 billion to buy out Azure Minerals which doesn't even have a resource estimate yet. They know lithium will be a $200 billion annual market during the 2030s and spodumene pegmatites are the most predictable supply source today while we wait to see what the salars, claystones and oil brine fields can deliver at what unit cost. The idea of Lithium Mania 2.0 is tied to the solid-state lithium-ion breakthrough which turns EVs into an affordable and acceptable option for ordinary people, and we will not hit that inflection point until 2030, which means exploring for pegmatites has to go full throttle today. If Toyota delivers on this promise, EVs cease to be a "political" choice. When will lithium stock prices reverse their decline? Should one buy now or wait for it to fall lower? In the case of lithium, we know there will be drill results coming from many discoveries in 2024 to excite the lithium investment market and the expansion of EV vehicle technologies and sales numbers will continue to skyrocket." - John Kaiser, Kaiser Research Online
LITHIUM RELATED LINKS
CNBC
A WORLDWIDE LITHIUM SHORTAGE COULD COME AS SOON AS 2025
FORTUNE
"EVs reached 33% of sales in China, 35% in Germany, and 90% in Norway for the first six months of 2023, according to a BloombergNEF EV outlook published in June."
ATLAS PUBLIC POLICY
EV sales data is now in for September 2023. Here's three highlights:
Strongest month on record with 136,000 sales, up nearly 67% from September 2022
EV market share of 11% for new sales
Nearly 59,000 Tesla sales, the second highest ever for Tesla
BLOOMBERG
EV sales are surging due to a combination of policy support, improvements in battery technology, more charging infrastructure and new compelling models from automakers. Electrification is also spreading to new segments of road transport, setting the stage for huge changes ahead.
URANIUM SUMMARY
Uranium is Powering Up the Future.
Spot uranium prices recently reached a peak not witnessed since 2007, standing strong at $101 per pound, per Numerico data. This upswing signifies a constrained nuclear fuel market, growing expectations for future demand, and the imperative for additional mine restarts and new constructions, according to experts in the uranium industry.
Need for nuclear.
The rising price comes after the US Department of Energy (DOE) announced its US$500 million plan to build domestic uranium supply for advanced nuclear reactors, as part of President Joe Biden's 'Investing in America Agenda'. US Secretary of Energy Jennifer Granholm says nuclear energy provides nearly half of the US carbon-free power and continues to play a 'significant' role in transitioning to a clean energy future.
The unpredictable fossil fuel prices and go-getter goals for decarbonisation have driven the US, along with other countries to announce their nuclear power will be tripled by 2050. The S&P Global reports the rally started due to geopolitical instability, everlasting supply cuts, and companies renewing their long-term uranium supply contracts.
Other factors influenced this now-bull market, including a change in global sentiment as plans were in the works for restarting or extending the operational life of nuclear power plants. The key role that nuclear energy will play in reaching net zero by 2050 was recognised at COP28. Some 22 countries, led by the US and other leading nuclear nations, including France, South Korea, Canada, Britain, Japan, Sweden and the UAE, signed a declaration to triple nuclear energy capacity by 2050.
The Company's proposed acquisition of the Cominco Property offers investors a diversification alongside its lithium portfolio to offer a truly diversified "energy" investment opportunity.
Qualified Person
Peter Webster P.Geo. CEO of Mercator Geological Services Limited is an Independent Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information related to the Pomie and Yon projects disclosed in this news release.
About the Company
Hertz Energy is a British Columbia based junior exploration company primarily engaged in the acquisition and exploration of mineral properties. The Company recently entered into the Definitive Agreement to acquire the Cominco Uranium Property located in Bathurst Inlet, Nunavut, Canada. Hertz rebrand to "Hertz Energy" to better reflect the Company's commitment to critical mineral exploration in support of the global green energy transition. The Company's lithium exploration projects include the Lucky Mica Lithium Project, the ACDC Lithium Project and the Patriota Lithium Projection. The Lucky Mica Project is 939 hectares located within the Arizona Pegmatite Belt in the Maricopa County of Arizona, USA. The ACDC Project is 26,500 hectares located in the renowned James Bay Lithium District in Quebec, Canada, just 26kms southeast of the Covette Lithium Project owned by Patriot Battery Metals and is contiguous to Rio Tinto's Kaanaayaa project claims. The Patriota Lithium Project is 2,963 hectares located within the Eastern Brazilian Pegmatite Province in Minas Gerais, Brazil and host to similar geology as Sigma's "Green Lithium Mine". The Company also holds a long-term, exclusive license for a patent-pending process for extracting lithium directly from lithium-bearing materials, including but not limited to alpha-spodumene and other hard rock hosted minerals. Such process was invented by researchers affiliated with Penn State and is co-owned by the Penn State Research Foundation and North Carolina State University.
For further information, please contact Mr. Kal Malhi or view the Company's filings at www.sedarplus.ca.
On Behalf of the Board of Directors
Kal Malhi
Chief Executive Officer and Director
Phone: 604-805-4602
Email: kal@bullruncapital.ca
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding "Forward-Looking" Information
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE: Hertz Energy Inc.
Troubadour Closes 100% Ownership of High-Grade Monarch Uranium Property
https://www.newsfilecorp.com/release/198019
February 15, 2024 8:00 AM EST | Source: Troubadour Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - February 15, 2024) - TROUBADOUR RESOURCES INC. (TSXV: TR) (OTC Pink: TROUF) (the "Company") is pleased to announce the closing of its 100% acquisition of the High-Grade Monarch Uranium Property in the Theon Basin.
Blake Morgan, CEO States, "With the Acquisition finally completed we can now move forward to aggressively explore and drill our High-Grade Uranium Property. The team looks forward to closing our current Private Placement and getting boots onto the ground ASAP. We expect to have a new Presentation and Website out in the coming weeks that really showcases our Uranium asset in one of the most active regions in the world."
About the Property
A significant boulder field has been previously defined, with up to 30% Uranium boulders discovered on the property.
Sits stratigraphically above the unconformity between the Thelon Basin and the underlying metasediments basement.
The intersection of reactivated faults and unconformities is highly prospective for uranium deposits. As seen in properties like Cigar Lake, Key Lake.
Contiguous to Atha Energy Corp in Nunavut.
Over $1,000,000 worth of historical data to work with.
Terms of Acquisition
The Company will purchase 100% ownership of the Monarch Uranium Property for consideration of the issuance of 5,500,000 common shares, and a cash payment of $35,000 upon closing.
About Troubadour
TROUBADOUR RESOURCES INC. (TSXV: TR) (OTC Pink: TROUF) is a public Canadian mining exploration company focused on copper and gold in British Columbia, Canada. The Company is managed by an experienced team consisting of youthful and seasoned professionals with proven track records as mine finders. The Texas gold property diversifies the Company's commodity focus and compliments Troubadour's Amarillo copper project located 10 km south of the past-producing Brenda Mine in southern BC and 35 km east of Kodiak Copper's MPD discovery.
For further information please contact:
Troubadour Resources Inc.
Blake Morgan, CEO
(236) 878 - 4938
blake@acvc.vc
Forward-Looking Information
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward looking statements.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE: Troubadour Resources Inc.
Eagle Plains and Xcite Expand Uranium City Uranium Projects
https://www.accesswire.com/833956/eagle-plains-and-xcite-expand-uranium-city-uranium-projects
Thursday, 15 February 2024 07:00
CRANBROOK, BC / ACCESSWIRE / February 15, 2024 / Eagle Plains Resources Ltd. (TSXV:EPL) ("EPL" or "Eagle Plains") has offered to Xcite Resources Inc. (TSXV:"XRI") ("XRI or Xcite"), and Xcite has accepted, two dispositions recently acquired by staking in the Uranium City area, northern Saskatchewan. The two dispositions fall within an Area of Mutual Interest ("AMI") and as such, will become included in the Gulch and Larado projects respectively. The Larado project has been increased by 398 ha (643 ha total) and Gulch has increased by 311 ha (1996 ha total). In December 2023 Eagle Plains granted Xcite the exclusive right to earn up to an 80% interest in the Gulch, Lorado, Beaver River, Black Bay, Don Lake, and Smitty projects (see Dec 14 news release). The six projects comprising the Xcite option agreements cover 26 Saskatchewan Mineral Deposit Index (SMDI) occurrences and four past-producing uranium mines.
See Uranium City project map here
Under the terms of the option agreements, Xcite may earn an 80% interest in each individual property by completing CDN$3,200,000 in exploration expenditures, issuing 750,000 common shares of Xcite and making cash payments to Eagle Plains of CDN$55,000 over four years, for an aggregate of CDN$19,200,000 in exploration expenditures, 4,500,000 shares and $330,000 in cash to Eagle Plains. Upon Xcite fulfilling the terms of any or all of the earn-in agreements, an 80/20 joint venture will be formed, with Eagle Plains retaining a carried interest in all expenditures until delivery by Xcite or its assigns of a bankable feasibility study. During the option earn in period, XRI will be appointed as operator, and EPL will manage the exploration programs under the direction of a joint technical committee. The projects are owned 100% by EPL, which will retain an underlying 2% NSR royalty on the each of the properties.
Eagle Plains currently holds a 100% interest in 18 individual projects comprising a total of 40,050 ha of mineral dispositions in Saskatchewan covering both basement and unconformity hosted uranium targets. Eagle Plains has been active in the uranium exploration space since 2006, but as reported on November 08, 2023 and February 12th, 2024 EPL has acquired significant additional uranium-focused tenures. The projects range from early-stage grassroots to drill-ready and are distributed throughout the prospective Athabasca Basin including the Patterson Lake South (PLS), Beaverlodge, and Dufferin-Centennial camps. EPL is seeking to advance its uranium portfolio through collaborative partnerships.
See Athabasca Basin U project map here
Athabasca Basin History and Mineralization
The Beaver River, Black Bay, Don Lake, Gulch, Larado, and Smitty projects are located in the Beaverlodge District near Uranium City in the Lake Athabasca region of Saskatchewan. Occurrences of uranium mineralization are abundant in the Uranium City area and have been explored and documented since the 1940s. The Beaverlodge camp was the first uranium producer in Canada, with historic production of approximately 70.25 million pounds of U3O8 between 1950-1982, from ore grades averaging 0.23% U3O8. The two largest producers were the Eldorado Beaverlodge (Ace-Fay-Verna) mine and the Gunnar uranium mine. The Beaverlodge area has seen limited uranium focused exploration since the early 1990's. Eagle Plains' management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties.
Beaverlodge-style uranium deposits host structurally controlled, high grade mineralization in veins and breccia-fills within basement rocks. Mineralization often occurs at geological contacts and consists of structures filled with hematite, chlorite and graphite associated with pitchblende (an ore mineral of uranium).
Qualified Persons
Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and a director of Eagle Plains, has reviewed and approved the scientific and technical disclosure in this news release.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains is a well-funded, prolific project generator that continues to conduct research, acquire and explore mineral projects throughout western Canada, with a focus on critical metals integral to an increasingly electrified, decarbonized economy.
The Company was formed in 1992 and is the ninth-oldest listed issuer on the TSXV (and one of only three that has not seen a roll-back or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and through numerous spin outs has transferred over $100,000,000 in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold Corp. being notable examples. Eagle Plains latest spinout; Eagle Royalties Ltd. (CSE:"ER") was listed on May 24, 2023, and holds a diverse portfolio of royalty assets throughout western Canada.
Eagle Plains' core business is acquiring grassroots critical- and precious-metal exploration properties. The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team.
Expenditures from 2010-2023 on Eagle Plains-related projects exceed $38M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 50,000m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.
Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.
On behalf of the Board of Directors
"C.C. (Chuck) Downie" P.Geo
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at https://www.eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE: Eagle Plains Resources Ltd.
Glorious Creation Announces Proposed Acquisition of Uranium Assets in the Eastern Athabasca Basin of Saskatchewan, from Stallion Uranium Corp.
https://ca.finance.yahoo.com/news/glorious-creation-announces-proposed-acquisition-181300478.html
Glorious Creation Limited
Wed, February 14, 2024 at 10:13 a.m. PST·7 min read
STLNF
-3.02%
GCIT-X.CN
0.00%
Exhibit #1
Ford Lake, Cigar Lake East, and Roughrider South shown above with all other Uranium activity in the general region.
VANCOUVER, British Columbia, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Glorious Creation Limited (“Glorious” or the “Company”) (CSE: GCIT.X) is pleased to announce that the Company has entered into a definitive purchase and sale agreement (the “Definitive Agreement”) dated February 12, 2024 with Stallion Uranium Corp. (“Stallion”), a British Columbia mineral exploration company with its common shares listed for trading on the TSX Venture Exchange (the “TSXV”). Pursuant to the Definitive Agreement, the Company will acquire three separate mineral properties comprised of an aggregate of seven mineral claims, covering a total of 10,874 hectares (approximately 100 square kilometers), located in Eastern Athabasca Basin of Saskatchewan (collectively, the “Properties”) from Stallion (the “Transaction”).
The Transaction is subject to the approval of the Canadian Securities Exchange (“CSE”) and is intended to constitute a Fundamental Change of Glorious as defined in CSE Policy 8 – Fundamental Changes and Changes of Business. Subject to CSE approval, upon the closing of the Transaction (the “Closing”), the business of the Company resulting from the Transaction will primarily be the exploration for uranium on the Properties.
Trading in the Company’s common shares (the “Shares”) on the CSE was halted in connection with this news release. Trading in the Shares will remain halted pending the review of the Transaction by the CSE and satisfaction of any conditions of the CSE for resumption of trading. It is likely that that the Shares will not resume trading until the Closing.
The Properties
The Ford Lake project consists of three claims covering an area of 7,431 hectares in the prolific Eastern Athabasca Basin near the margin of the Mudjuik and Wollaston Domains. Ford Lake is prospectively highlighted by the recent CanAlaska Uranium Ltd. high-grade discovery hole at Moon Lake only 10km to the northeast. The uranium endowment of the area is proven by the significant deposits of the Key Lake Mine only 15km to the southeast and less than 20km from Cameco Corp.’s Millennium deposit, and less than 20km from Denison Mines Corp.’s Gryphon and Phoenix deposits with uranium mineral reserves of 106.4 Mlbs (Million Pounds) U3O8.12
_____________________________
1 NI 43-101 Technical Report on the Wheeler River Project Athabasca Basin, Saskatchewan, Canada dated June 20, 2023
2 Denison Mines Corp. – Core Projects – Wheeler River Project
Each of the Cigar Lake East and Roughrider South projects are located in the Eastern Athabasca Basin in northwest Saskatchewan. The Cigar Lake East and Roughrider South projects consists of four claims covering a total area of 3,443 hectares in the Wollaston Domain in the Eastern Athabasca Basin.
Drew Zimmerman, CEO of Stallion Uranium Corp stated “We are excited to see our three eastern basin projects move into the hands of Glorious, while still being able to benefit from their success. These projects warrant, and will now receive, a committed uranium exploration program led by our world class technical and geological team at a time when the world needs meaningful uranium discoveries. All three projects are located in the heart of the world-renowned Eastern Athabasca Basin and hold significant potential for discovery.”
CEO Nicholas Luksha expressed enthusiasm stating, “Today marks a significant milestone for our shareholders as we secure a strategic land position in one of the most renowned Uranium regions in the world. The full control of this acquisition adds up to approximately 100 square kilometers, and is situated in a significant area with recent Uranium discoveries. This exciting opportunity has generated enthusiasm amongst our team and operating partners at Stallion Uranium. Collaborating on this turnkey operation, we aim to establish robust leadership and harness the expertise of the existing technical team to commence drilling on the most promising targets as soon as this summer. The ambitious strategy we have in motion is poised to substantially enhance shareholder value.”
Ford Lake, Cigar Lake East, and Roughrider South shown above with all other Uranium activity in the general region.
Exhibit #1. Ford Lake, Cigar Lake East, and Roughrider South shown above with all other Uranium activity in the general region.
The Transaction
The Definitive Agreement provides that the Company will acquire the Properties from Stallion for the following consideration:
concurrently with the signing the Definitive Agreement, a cash payment of $100,000.00 (the “Deposit”), which one half of the Deposit ($50,000) will be refundable by Stallion to Glorious if Glorious does not obtain approval from the CSE;
on the date of the Closing (the “Closing Date”), a cash payment of $300,000.00;
an aggregate of 2,500,000 Shares to be issued by the Company to Stallion as follows:
500,000 Shares on the date which is six (6) months following the Closing Date,
500,000 Shares on the date which is twelve (12) months following the Closing Date,
500,000 Shares on the date which is eighteen (18) months following the Closing Date, and
1,000,000 Shares on the date which is twenty-four (24) months following the Closing Date; and
a 3.0% net smelter return royalty on the Properties in favour of Stallion (the "Royalty").
The terms of the Royalty will be governed by a net smelter return royalty agreement (the “Royalty Agreement”) to be entered into between the Company and Stallion at Closing. The parties agreed to negotiate in good faith to settle the terms of the Royalty Agreement promptly following the execution of the Definitive Agreement. The Royalty Agreement will include a 1.5% buy-back right in favour of the Company which can be exercised at any point prior to commercial production as follows: (a) $500,000 for 0.5%; (b) $750,000 for a second 0.5%; and (c) $1,000,000 for a third 0.5%.
The Company and Stallion have also agreed to enter into an operating agreement (the “Operating Agreement”) pursuant to which Stallion will conduct an agreed upon exploration program on one or more of the Properties.
The completion of the Transaction is subject to the satisfaction of various conditions as are standard for a transaction of this nature, including, but not limited to: (i) receipt of all requisite consents, waivers and approvals for the Transaction, including the approval of the CSE, the approval by the holders of at least 50.1% of the issued and outstanding Shares and approval of the TSXV; (ii) the absence of any material adverse change in the status of the Properties; (iii) entry into of the Royalty Agreement and the Operating Agreement; (iv) the delivery of a National Instrument 43-101 – Standards of Disclosure for Mineral Properties compliant technical report with respect to one or more of the Properties; (v) the Company meeting the qualifications for listing under CSE Policy 2 – Qualification for Listing (“Policy 2”) by filing all of the documents and following the procedures set out in Policy 2; and (vi) Stallion, if applicable, having received the requisite approvals from its shareholders for the Transaction.
The Company expects to pay a finder’s fee in connection with the Transaction to the party that introduced the acquisition target to the Company, subject to applicable securities laws and the policies of the CSE. There is no change of control of the Company expected to occur as a result of the Transaction.
Qualifying Statement
The foregoing scientific and technical disclosures for Glorious Creations Limited have been reviewed by Darren Slugoski, P.Geo., a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Mr. Slugoski is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Glorious Creation Limited
Glorious is incorporated under the provisions of the Business Corporations Act (British Columbia) with its registered and head office in Vancouver, British Columbia. Glorious is a “reporting issuer” in the provinces of Ontario, British Columbia and Alberta.
For further information, please contact:
Glorious Creation Limited
Attention: Nicholas Luksha, CEO and Director
Phone: (604) 838-0184
Cautionary Note
Completion of the Transaction is subject to a number of conditions, including but not limited to, CSE acceptance and shareholder approval. There can be no assurance that the Transaction will be completed as proposed or at all.
Investors are cautioned that, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative. The CSE has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release.
This news release also includes references with respect to CanAlaska Uranium Ltd.’s Moon Lake project, Cameco Corp.’s Millennium deposit and Denison Mines Corp.’s Gryphon and Phoenix deposits (collectively, the “Adjacent Properties”), which are located near the Properties in the Eastern Athabasca Basin. The Company advises that, notwithstanding their proximity of location, discoveries of minerals on the Adjacent Properties and any promising results thereof are not necessarily indicative of the mineralization of, or located on the Properties or the Company’s ability to commercially exploit the Properties or to locate any commercially exploitable deposits therefrom.
All technical information contained in this press release with respect to Denison Mine’s Corp’s Gryphon and Phoenix deposits, was provided by the sources noted in footnotes (1) and (2) above without independent review and investigation by the Company, and the Company has relied on the information contained in the respective sources exclusively in providing the information about the Denison Mine’s Corp’s Gryphon and Phoenix deposits. The Company cautions investors on relying on this information as the Company has not confirmed the accuracy or reliability of the information.
Disclaimer for Forward-Looking Information
Certain statements in this press release are forward-looking statements, which reflect the expectations of management regarding the Company’s completion of the Transaction and related transactions. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future, including, but not limited to: that the Company will obtain the requisite approvals with respect to the Transaction, including that of the CSE and the shareholders of the Company, as applicable; that all other conditions for completion of the Transaction will be satisfied for completion of the Transaction; that the Shares will remain halted until the Closing; that the Company and Stallion will successfully negotiate and enter into the Royalty Agreement and the Operating Agreement; that the Company will commence drilling on the Properties and the expected timing thereof; that the Company will complete the name change as proposed; and that the Company will pay a finder’s fee in connection with the Transaction. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. The risks include the following: that the requisite corporate approvals of the directors and shareholders of the Company may not be obtained; that the CSE may not approve the Transaction; and other risks that are customary to transactions of this nature. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3c35fb36-08b7-4726-8410-91dedbac698e
Baselode Ready to Start Drilling at Catharsis Uranium Project
https://www.newsfilecorp.com/release/198010
February 15, 2024 6:00 AM EST | Source: Baselode Energy Corp.
New video published detailing uranium targets planned for this drill program
Multiple untested targets will be drilled with this program
Drill and crews are on site, ready to start drilling
Toronto, Ontario--(Newsfile Corp. - February 15, 2024) - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to provide details outlining drill plans for the Catharsis uranium project in northern Saskatchewan's Athabasca Basin area.
"We have completed extensive work to define Tier 1 target areas that share characteristics with other world-class basement-hosted Athabasca uranium deposits, such as NexGen Energy Ltd. (TSX: NXE) and Denison Mines Corp. (TSX: DML) Arrow and Gryphon deposits, respectively. The Catharsis drill program is ready to start, and our focus is to fast-track discovery by drilling multiple target areas with helicopter support," stated James Sykes, CEO, President, and Director of Baselode.
Please watch the Company's video (below) for more details about the drill program, including an explanation of target areas, exploration methodologies, and an overview of the Catharsis project.
Catharsis 2024 Exploration Plans
Catharsis Drill Program Details
8 to 10 drill holes for 2,000 metres ("m") are planned within 4 to 5 different untested target areas (Figure 2). All support staff and equipment, such as diamond drill and helicopter, are on site and the program is ready to start. The Company has received the necessary permits to complete the program.
The logistics support for a high-resolution airborne magnetic and radiometric survey is underway. The survey is planned for over 10,000 line-km with flight lines 50 m apart.
About Baselode Energy Corp.
Baselode controls 100% of approximately 272,804 hectares for exploration in the Athabasca Basin area of northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.
The Company discovered the ACKIO near-surface, uranium prospect in September 2021. ACKIO measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 9 separate uranium Pods, with mineralization starting as shallow as 28 m and 32 m beneath the surface in Pods 1 and 7, respectively, and down to approximately 300 m depth beneath the surface with the bulk of mineralization occurring in the upper 120 m. ACKIO remains open at depth, and to the north, south and east.
Baselode's Athabasca 2.0 exploration thesis focuses on discovering near-surface, basement-hosted, high-grade uranium orebodies outside the Athabasca Basin. The exploration thesis is further complemented by the Company's preferred use of innovative and well-understood geophysical methods to map deep structural controls to identify shallow targets for diamond drilling.
QP Statement
The technical information contained in this news release has been reviewed and approved by Cameron MacKay, P.Geo., Vice-President, Exploration & Development for Baselode Energy Corp., who is considered to be a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
For further information, please contact:
James Sykes, CEO, President and Director
Baselode Energy Corp.
jsykes@oregroup.ca
306-221-8717
www.baselode.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release.
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Baselode Energy Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Baselode Energy Corp. Additional information identifying risks and uncertainties is contained in the Company's filings with Canadian securities regulators, which filings are available under Baselode Energy Corp. profile at www.sedarplus.ca.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
FIGURE 1 - Bear, Catharsis, Hook & Shadow projects location map. ACKIO uranium prospect identified by yellow circle
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/198010_figure1.jpg
FIGURE 2 - Catharsis project and 2024 diamond drilling target areas A to D (white circles)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/198010_figure2
SOURCE: Baselode Energy Corp.
Western Uranium & Vanadium Mining Operations Update
https://ca.finance.yahoo.com/news/western-uranium-vanadium-mining-operations-140000679.html
Western Uranium & Vanadium Corp.
Tue, February 13, 2024 at 6:00 a.m. PST·4 min read
WSTRF
-4.32%
Toronto, Ontario and Nucla, Colorado, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (“Western” or the ”Company”) is pleased to offer an update on its mining operations, highlighting significant achievements and outlining strategic goals for the upcoming year.
Exceptional Progress at the Sunday Mine Complex Project
Throughout 2023, the Sunday Mine Complex project witnessed exceptional progress, exceeding expectations in various facets. Key milestones include the identification of previously unknown large ore deposits, the successful development of the GMG ore body, and the establishment of an in-house mining capability. The success at the GMG ore body is also advantageous for the DV ore body which is situated on trend beyond the GMG. Moreover, the identification of additional mineralized areas while drifting has bolstered exploration prospects that are accessible from the St. Jude Mine workings.
Strategic Goals for 2024 and Beyond
Looking forward, the Company is gearing up to produce significant quantities of uranium and vanadium in 2025. This ambitious goal hinges on achieving a daily ore production of 500 tons, with an anticipated yield of approximately 3,000 pounds of uranium per day. A successful ramp-up would achieve the annual ore production goal of 1 million pounds of uranium and 6 million pounds of vanadium.
To support these objectives, our mining team commenced the year with the expansion of infrastructure into deeper areas of the Sunday Mine Complex. The expansion encompassed electric, water, air, and phone utilities. This project facilitates simultaneous ore sourcing from separate target areas and optimizes throughput via multiple haulage pathways. Our next major target, the Leonard & Clark ore body is accessible from the West Sunday Mine and is approximately 2,700 feet away from the nearest existing underground mine area. Two alternating mining crews operating seven days a week are driving a drift which we anticipate to reach target by fall 2024.
In 2024, our primary drilling objective is to define additional mining areas utilizing underground horizontal drilling. This cost-effective alternative to surface drilling aims to identify new high-value targets for mine development and support an ore resource upgrade program, defining additional resources for a NI 43-101 technical report. Notably, longhole and shorthole drilling efforts have already commenced on mineralized areas encountered while drifting to the GMG ore body. Additional drilling will target extensive unexplored areas of the project. Western is actively seeking to double our drilling capacity by adding a second drill team.
Favorable market conditions in the uranium sector, characterized by increased price levels, bolster our plans to expedite mine development and enhance production capacity. Our current production ramp-up efforts are geared towards ensuring an adequate uranium feedstock supply for the Maverick Minerals Processing Plant.
About Western Uranium & Vanadium Corp.
Western Uranium & Vanadium Corp. is ramping-up high-grade uranium and vanadium production at its Sunday Mine Complex. In addition to the flagship property located in the prolific Uravan Mineral Belt, the production pipeline also includes conventional projects in Colorado and Utah. The Maverick Minerals Processing Plant is being licensed in Utah and will include the kinetic separation process.
Cautionary Note Regarding Forward-Looking Information: Certain information contained in this news release constitutes “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking statements”). Statements of that nature include statements relating to, or that are dependent upon: the Company’s expectations, estimates and projections regarding the Offering and exploration and production plans and results; the timing of planned activities; whether the Company can raise any additional funds required to implement its plans; whether regulatory or analogous requirements can be satisfied to permit planned activities; and more generally to the Company’s business, and the economic and political environment applicable to its operations, assets and plans. All such forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond the Company’s ability to control or predict. Please refer to the Company’s most recent Management’s Discussion and Analysis, as well as its other filings at www.sec.gov and/or www.sedarplus.com, for a more detailed review of those risk factors. Readers are cautioned not to place undue reliance on the Company’s forward-looking statements, and that these statements are made as of the date hereof. While the Company may do so, it does not undertake any obligation to update these forward-looking statements at any particular time, except as and to the extent required under applicable laws and regulations.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
George Glasier
President and CEO
970-864-2125
gglasier@western-uranium.com
Robert Klein
Chief Financial Officer
908-872-7686
rklein@western-uranium.com
Eagle Plains Increases Saskatchewan Uranium Portfolio to 40,050 Hectares
https://www.accesswire.com/832714/eagle-plains-increases-saskatchewan-uranium-portfolio-to-40050-hectares
Monday, 12 February 2024 07:00
CRANBROOK, BC / ACCESSWIRE / February 12, 2024 / Eagle Plains Resources Ltd. (TSX-V:EPL) ("EPL" or "Eagle Plains") has recently acquired, through the Saskatchewan MARS on-line tenure system, significant additions to its extensive portfolio of Saskatchewan uranium assets.
Recent staking initiated on January 30, 2024 included additions to the existing Lorado, Gulch, Collins Bay Extension (CBE) and Dianne Lake projects, and a new project at Richards Lake.
Eagle Plains currently holds a 100% interest in 18 individual projects comprising a total of 40,050 ha of mineral dispositions in Saskatchewan covering both basement and unconformity hosted uranium targets. Since November 08, 2023 Eagle Plains has acquired an additional 6,643 ha of uranium-focused tenure. The projects range from early-stage grassroots to drill ready and are distributed throughout the prospective Athabasca Basin including the Patterson Lake South (PLS), Beaverlodge, and Dufferin-Centennial camps.
See Athabasca Basin U project map here
About Richards Lake
The 1317 ha Richards Lake Project is located 14km south of Fond-du-Lac. Previous documented work on the project includes an airborne MEGATEM geophysical survey, flown by UEX in 2005, which identified a number of conductive trends. UEX followed this up in 2007 with a ground based TDEM survey which refined the airborne conductors and defined priority drill targets to test for unconformity hosted uranium mineralization (AF73O3-0022). The property has never been drill tested. A detailed compilation and interpretation of available data from historical work programs has begun and will lead to recommendations for future work.
See Richards Lake map here
About Dianne Lake
The 4101 ha Dianne Lake Project is located 15km northwest of Uranium City and is prospective for both unconformity and Beaverlodge style structurally controlled uranium mineralization. Grab samples from a 2022 prospecting traverse included two samples collected near a sandstone/gneiss contact that returned greater than 1% U3O8.
See Dianne Lake Project map here
EPL is seeking to advance its uranium portfolio through collaborative partnerships. Recent partnerships include an option agreement with Xcite Resources Inc. (XRI: TSX.V) which includes 6 projects in the Uranium City area. (see Dec 14 news release)
Qualified Persons
Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and a director of Eagle Plains, has reviewed and approved the scientific and technical disclosure in this news release.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains is a well-funded, prolific project generator that continues to conduct research, acquire and explore mineral projects throughout western Canada, with a focus on critical metals integral to an increasingly electrified, decarbonized economy.
The Company was formed in 1992 and is the ninth-oldest listed issuer on the TSX-V (and one of only three that has not seen a roll-back or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and through numerous spin outs has transferred over $100,000,000 in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold Corp. being notable examples. Eagle Plains latest spinout; Eagle Royalties Ltd. (CSE:"ER") was listed on May 24, 2023, and holds a diverse portfolio of royalty assets throughout western Canada.
Eagle Plains' core business is acquiring grassroots critical- and precious-metal exploration properties. The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team.
Expenditures from 2010-2023 on Eagle Plains-related projects exceed $38M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 50,000m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.
Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.
On behalf of the Board of Directors
"C.C. (Chuck) Downie" P.Geo
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at https://www.eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE: Eagle Plains Resources Ltd.
Atco Mining Intends to Acquire up to 75% Interest in the Drill Ready and Fully Permitted Atlantic Uranium Project in the Athabasca Basin Through a Letter of Intent with Standard Uranium
https://thenewswire.com/press-releases/1ArbF8gRq-atco-mining-intends-to-acquire-up-to-75-interest-in-the-drill-ready-and-fully-permitted-atlantic-uranium-project-in-the-athabasca-basin-through-a-letter-of-intent-with-standard-uranium.html
Vancouver, British Columbia – TheNewswire - February 12th, 2024 – Atco Mining Inc. (the “Company” or “Atco”) (CSE:ATCM) (OTC:ATMGF) (Frankfurt:QP9)
Standard Uranium Announces Acquisition of Harrison Uranium Exploration Project and Expansion of Ascent Project in the Athabasca Basin, Saskatchewan
https://ca.finance.yahoo.com/news/standard-uranium-announces-acquisition-harrison-123000406.html
Standard Uranium Ltd.
Fri, February 9, 2024 at 4:30 a.m. PST·8 min read
Angold Resources Completes Acquisition of Interest in Saskatchewan Uranium Projects and Changes Name to Aero Energy
https://www.newsfilecorp.com/release/197336
February 08, 2024 7:00 PM EST | Source: Angold Resources Ltd.
Vancouver, British Columbia--(Newsfile Corp. - February 8, 2024) - Aero Energy Limited (TSXV: AERO) (OTC Pink: AAUGF) (FSE: 13L0) ("Aero" or the "Company") is pleased to announce that it has completed the acquisition (the "Transaction") of 1443904 B.C. Ltd. ("NumberCo") pursuant to the terms of a share purchase agreement dated December 21, 2023. NumberCo holds options to acquire up to 70% of the Murmac Property and Strike Property, and 100% of the Sun Dog Property (collectively, the "Optioned Properties").
Name Change
Concurrently with completion of the Transaction, the Company has changed its name from "Angold Resources Ltd." to "Aero Energy Limited". The common shares of the Company are expected to commence trading on the TSX Venture Exchange under the new name and the new ticker symbol "AERO" on or about February 13, 2024.
Property Descriptions
The Optioned Properties, covering a total area of 39,381 hectares, are located along the northwestern margin of the Athabasca Basin and encompass the vast majority of target horizons (electromagnetic or "EM" conductors) in the Uranium City area for high-grade uranium mineralization associated with the Athabasca Basin unconformity ("Unconformity-style" mineralization). Historical exploration efforts were focused on "Beaverlodge-style" mineralization, and the Optioned Properties are largely unexplored by modern techniques. Within the Optioned Properties there are numerous historical high-grade uranium (>1% U3O8) surface showings, in addition to historical uranium production. Approximately $7.6M has been invested in the Optioned Properties since 2020 by Fortune Bay Corp. ("Fortune Bay") and Standard Uranium Ltd. ("Standard", and together with Fortune Bay, the "Underlying Owners"). The Optioned Properties contain multiple, permitted, drill ready targets where reconnaissance drilling completed by the Underlying Owners intersected narrow zones of uranium mineralization and wide zones of hydrothermal alteration. Shallow, elevated uranium in drill core on the Optioned Properties is associated with favourable brittle-deformed graphitic rocks and pathfinder elements typical of high-grade Athabasca Basin deposits. These results confirm that Athabasca Basin Unconformity-style mineralizing systems have been active on the Optioned Properties.
Image 1
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/197336_bb24d152648659b8_002full.jpg
Sun Dog Property
The Sun Dog Property ("Sun Dog") optioned from Standard covers an area of 19,604 ha in nine mining claims and is host to the historic Gunnar uranium mine which produced approximately 18M lbs of U3O8 between 1953 and 19811. Sun Dog also hosts historical uranium mineralization at surface ranging between 0.1% and 3.58% U3O8. Standard has invested approximately $4M in exploration at Sun Dog where 13 holes drilled in 2022 and 2023 resulted in the identification of anomalous radioactivity and broad zones of strong hydrothermal alteration requiring follow-up.
Strike Property
The Strike Property ("Strike") optioned from Fortune Bay covers an area of 9,746 ha in four mining claims. Strike is host to multiple historical surface uranium showings exceeding 1% U3O8 at surface and grading as high as 27% U3O82. In addition, historical small-scale mining was conducted at the Tena zone where approximately 1,000 tons was mined in the 1950's with reported grades of 0.6% to 3.5% U3O83. Fortune Bay has invested approximately $1.5M in exploration at Strike and in 2021 completed a ground gravity survey to augment historical VTEM and geochemical surveys previously completed by Cameco. In 2022, nine drill holes were completed by Fortune Bay, three of which intersected anomalous uranium mineralization up to a maximum of 0.43% U3O8. Follow-up and exploratory drilling is strongly warranted at twelve target areas.
Murmac Property
The Murmac Property ("Murmac") owned by Fortune Bay covers an area of 10,131 ha in sixteen mining claims. Murmac is host to multiple historical surface uranium showings exceeding 1% U3O8 and grading as high as 10.3% U3O84. Fortune Bay has invested approximately $2.1M in exploration at Murmac. In 2022, Fortune Bay completed ground gravity and VTEM surveys and then completed a maiden drill program totalling 15 holes. Anomalous uranium was intersected in six of the holes, up to a maximum individual assay of 0.18% U3O8. Follow-up and exploratory drilling is strongly warranted at thirty-three target areas.
Option Terms
Sun Dog Property (the "Sun Dog Option")
The Sun Dog Option is for the right to acquire a 100% interest in Sun Dog from Standard for $650,000 in cash and $650,000 in share payments payable in annual installments over a 2-year period, and a $6,500,000 work commitment over a 3-year period. Following exercise of the Sun Dog Option, Standard will retain a 2% net smelter returns royalty, which may be reduced to 1% for a $1,000,000 cash payment.
The following is a summary of the Sun Dog Option, which will transfer to the Company through the Company's purchase of NumberCo.
Cash (C$) Consideration Shares (C$) Exploration Expenditures (C$) Interest Earned
Execution Date $200,000 (paid) $200,000 Nil
12-Month Anniversary $200,000 $200,000 $1,500,000
24-Month Anniversary $250,000 $250,000 $2,000,000
36-Month Anniversary Nil Nil $3,000,000
Total $650,000 $650,000 $6,500,000 100%
Strike and Murmac Properties (the "Strike and Murmac Option")
The Strike and Murmac Option is for the right to acquire up to 70% in the Strike and Murmac properties from Fortune Bay in three stages for $1,350,000 in cash and $2,150,000 in share payments payable in annual installments over a 3.5-year period. Additionally, the option includes a $6,000,000 work commitment over a 3-year period. The Murmac property is subject to an existing 2% net smelter returns royalty.
The following is a summary of the Strike and Murmac Option, which will transfer to the Company through the Company's purchase of NumberCo.
Cash (C$) Consideration Shares (C$) Exploration Expenditures (C$) Interest Earned
Execution Date $200,000 (paid) $200,000 Nil
12-Month Anniversary $200,000 $200,000 $1,000,000
24-Month Anniversary $250,000 $250,000 $2,000,000
Total (First Option) $650,000 $650,000 $3,000,000 51%
36-Month Anniversary $300,000 $300,000 $3,000,000
Total (Second Option) $300,000 $300,000 $3,000,000 60%
42-Month Anniversary $400,000 $1,200,000 Nil
Total (Third Option) $400,000 $1,200,000 Nil 70%
Grand Total $1,350,000 $2,150,000 $6,000,000
After earning-in 51%, 60%, or 70% interest (whichever the case may be), the Company and Fortune Bay will form a joint venture with standard pro-rata funding requirements.
Transaction Terms
Pursuant to the terms of the Transaction, the Company has acquired all of the outstanding share capital of NumberCo in consideration for the issuance of 23,500,000 common shares of the Company (the "Payment Shares") to the existing shareholders of NumberCo (collectively, the "Vendors"). The Company has also assumed the obligations of NumberCo related the Optioned Properties, including the requirements to complete payments and share issuances to Fortune Bay Corp. and Standard Uranium Ltd., and incur exploration expenditures, in order to maintain an interest in the Optioned Properties.
Upon completion of the Transaction, the Company issued 1,333,333 common shares to each of Fortune Bay Corp. and Standard Uranium Ltd., at a deemed price of $0.15, to satisfy certain obligations owing pursuant to the option agreements under which NumberCo controls the Optioned Properties. For further information regarding the payments, share issuances and expenditures required to acquire an interest in the Optioned Properties, readers are encouraged to review the news release issued by the Company on December 22, 2023.
The Company is at arms-length from NumberCo, the Vendors and the Underlying Owners, and no finders' fees were payable in connection with completion of the Transaction.
Qualified Person
The technical content of this news release has been reviewed and approved by Galen McNamara, P. Geo., the interim CEO of the Company and a qualified person as defined by National Instrument 43-101.
About Aero Energy Limited
Aero Energy Ltd is an exploration and development company targeting large-scale mineral systems worldwide. The Company's assets include projects in Chile and uranium projects Canada. The Dorado Project in Chile features a major porphyry-gold system where drill results include 302 m at 0.71 g/t Au. The Cordillera Project in Chile is strategically located between two multi-million-ounce gold deposits and features multiple gold exploration targets. The uranium projects in Canada are prospective for high-grade uranium mineralization.
On Behalf of the Board of Directors
"Galen McNamara"
Galen McNamara, Interim Chief Executive Officer
Further information on the Company can be found on the Company's website at aeroenergy.ca and at www.sedarplus.ca, or by contacting the Company by email at info@aeroenergy.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance and include expectations regarding the intended completion of the acquisition of 1443904 B.C. Ltd. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions. Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release. Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.
The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
SOURCE: Angold Resources Ltd.
Madison Metals Returns 8.47% U3O8 in High-Grade Uranium Discovery at Khan Project in Namibia
https://ca.finance.yahoo.com/news/madison-metals-returns-8-47-160200438.html
Madison Metals Inc.
Wed, February 7, 2024 at 8:02 a.m. PST
NexGen Initiates 30,000 Meter 2024 Uranium Exploration Program
https://www.newswire.ca/news-releases/nexgen-initiates-30-000-meter-2024-uranium-exploration-program-854381738.html
NexGen Energy Ltd. Feb 07, 2024, 06:30 ET
VANCOUVER, BC, Feb. 7, 2024 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) announces the commencement of a 30,000-meter exploration drill program that will test priority targets on NexGen's 100% owned properties that dominate the boundary of the proven high-grade uranium district of the southwest Athabasca Basin. The Company's 2024 program builds on 2023 exploration results, which advanced the geological investigation of previously unexplored corridors and produced priority targets for this 2024 campaign.
Figure 1: NexGen’s SW2 (Rook I) property with areas for 2024 exploration drilling activity highlighted. (CNW Group/NexGen Energy Ltd.)
Figure 2: NexGen’s SW1 property with areas for 2024 exploration drilling activity highlighted. (CNW Group/NexGen Energy Ltd.)
NexGen's 2023 exploration program applied high-resolution geophysical surveys across all properties, and 22,114.4 meters of drilling dedicated to SW 2 (Rook I) (Figure 1) and SW1 (Gambit, Gartner and King) (Figure 2). The results yielded a more comprehensive understanding of the geology in the highly prospective R7 and Morrow targets on the SW2 property; including brittle-reactivated structure and hydrothermal alteration indicative of high-grade uranium-bearing systems. Further, the 2023 program identified high prospectivity in the SW1 property (Gartner and Gambit corridors) where hydrothermal alteration associated with structure was discovered. In 2024, NexGen is increasing its exploration effort with a 30,000-meter drill program to follow up on these results and continue to systematically test the large and prospective land package NexGen holds. By refining targets through purpose-built geophysical coverage and drill testing priority areas, this exploration program is designed to strategically capitalize on the increasing global demand for clean, sustainably produced Canadian uranium.
Leigh Curyer, Chief Executive Officer, commented: "Nuclear power is critical to reliably achieving carbon neutrality by 2050, and uranium is the fuel that will power this necessary transition with the industry forecasting a 200-million-pound annual supply deficit by 2040. With our priority focus on concluding Federal permitting and project engineering, the commencement of the 2024 exploration drilling to identify additional zones of mineralization is an exciting arm of NexGen's operations. The team are employing the same innovative target generation and cost efficiency approach that led to the discovery Arrow."
2024 Drilling
This drill program – targeting ten (10) conductive trends – has a planned total of 30,000 meters with up to four (4) drill rigs in operation – 15,700 meters planned for SW2 (Rook I), and 14,300 meters planned for SW1.
Winter drilling will take place on prospective corridors in proximity to the Arrow deposit: Patterson Corridor East, Derksen West, Derksen, Derksen East, and Fury. During summer drilling, NexGen will target prospective corridors Gartner, Gambit, King on SW1 (Figure 1) and Fury, R7, Morrow on SW2 (Figure 2).
For a detailed summary of NexGen's 2024 exploration program, please visit: https://www.nexgenenergy.ca/exploration/overview/default.aspx
NexGen's cash reserves are approximately C$410 million available to fund the continuing development and further exploration of the Company's mineral properties, and for general corporate purposes.
About NexGen
NexGen Energy is a Canadian company focused on delivering clean energy fuel for the future. The Company's flagship Rook I Project is being optimally developed into the largest low-cost producing uranium mine globally, incorporating the most elite environmental and social governance standards. The Rook I Project is supported by an N.I. 43-101 compliant Feasibility Study, which outlines the elite environmental performance and industry-leading economics. NexGen is led by a team of experienced uranium and mining industry professionals with expertise across the entire mining life cycle, including exploration, financing, project engineering and construction, operations and closure. NexGen is leveraging its proven experience to deliver a Project that leads the entire mining industry socially, technically and environmentally. The Project and prospective portfolio in northern Saskatchewan will provide generational, long-term economic, environmental, and social benefits for Saskatchewan, Canada, and the world.
NexGen is listed on the Toronto Stock Exchange, the New York Stock Exchange under the ticker symbol "NXE," and on the Australian Securities Exchange under the ticker symbol "NXG," providing access to global investors to participate in NexGen's mission of solving three major global challenges in decarbonization, energy security and access to power. The Company is headquartered in Vancouver, British Columbia, with its primary operations office in Saskatoon, Saskatchewan.
Technical Disclosure
All technical information in this news release has been reviewed and approved by Grant Greenwood, P.Geo, NexGen's Vice President, Exploration, a qualified person under National Instrument 43-101.
A technical report in respect of the F.S. is filed on SEDAR ( www.sedar.com ) and EDGAR (www.sec.gov/edgar.shtml ) and is available for review on NexGen Energy's website (www.nexgenenergy.ca ).
Cautionary Note to U.S. Investors
This news release includes Mineral Reserves and Mineral Resources classification terms that comply with reporting standards in Canada and the Mineral Reserves and the Mineral Resources estimates are made in accordance with N.I. 43-101. N.I. 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the Securities and Exchange Commission ("SEC") set by the SEC's rules that are applicable to domestic United States reporting companies. Consequently, Mineral Reserves and Mineral Resources information included in this news release is not comparable to similar information that would generally be disclosed by domestic U.S. reporting companies subject to the reporting and disclosure requirements of the SEC Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.
Forward-Looking Information
The information contained herein contains "forward-looking statements" within the meaning of applicable United States securities laws and regulations and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to mineral reserve and mineral resource estimates, the 2021 Arrow Deposit, Rook I Project and estimates of uranium production, grade and long-term average uranium prices, anticipated effects of completed drill results on the Rook I Project, planned work programs, completion of further site investigations and engineering work to support basic engineering of the Project and expected outcomes. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected ", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Statements relating to "mineral resources" are deemed to be forward-looking information, as they involve the implied assessment that, based on certain estimates and assumptions, the mineral resources described can be profitably produced in the future.
Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about NexGen's business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including among others, that the mineral reserve and resources estimates and the key assumptions and parameters on which such estimates are based are as set out in this news release and the technical report for the property , the results of planned exploration activities are as anticipated, the price and market supply of uranium, the cost of planned exploration activities, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct NexGen's planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward looking information or making forward looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate in the future.
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of NexGen to differ materially from any projections of results, performances and achievements of NexGen expressed or implied by such forward-looking information or statements, including, among others, the existence of negative operating cash flow and dependence on third party financing, uncertainty of the availability of additional financing, the risk that pending assay results will not confirm previously announced preliminary results, conclusions of economic valuations, the risk that actual results of exploration activities will be different than anticipated, the cost of labour, equipment or materials will increase more than expected, that the future price of uranium will decline or otherwise not rise to an economic level, the appeal of alternate sources of energy to uranium-produced energy, that the Canadian dollar will strengthen against the U.S. dollar, that mineral resources and reserves are not as estimated, that actual costs or actual results of reclamation activities are greater than expected, that changes in project parameters and plans continue to be refined and may result in increased costs, of unexpected variations in mineral resources and reserves, grade or recovery rates or other risks generally associated with mining, unanticipated delays in obtaining governmental, regulatory or First Nations approvals, risks related to First Nations title and consultation, reliance upon key management and other personnel, deficiencies in the Company's title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and licences, risks related to changes in laws, regulations, policy and public perception, as well as those factors or other risks as more fully described in NexGen's Annual Information Form dated February 25, 2022 filed with the securities commissions of all of the provinces of Canada except Quebec and in NexGen's 40-F filed with the United States Securities and Exchange Commission, which are available on SEDAR at www.sedar.com and Edgar at www.sec.gov .
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or statements or implied by forward-looking information or statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned not to place undue reliance on forward-looking information or statements due to the inherent uncertainty thereof.
There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.
SOURCE NexGen Energy Ltd.
For further information: Leigh Curyer, Chief Executive Officer, NexGen Energy Ltd., +1 604 428 4112, lcuryer@nxe-energy.ca, www.nexgenenergy.ca; Travis McPherson, Chief Commercial Officer, NexGen Energy Ltd., +1 604 428 4112, tmcpherson@nxe-energy.ca, http://www.nexgenenergy.ca; Monica Kras, Vice President, Corporate Development, NexGen Energy Ltd., +44 (0) 7307 191933, mkras@nxe-energy.ca, http://www.nexgenenergy.ca
Cameco Announces 2023 Results; Strategically Positioned to Increase Tier-One Production as Security of Supply Contracting Cycle Advances; Maintaining Disciplined Financial Management and Growth; Improving Westinghouse Outlook
https://ca.finance.yahoo.com/news/cameco-announces-2023-results-strategically-114000010.html
Business Wire
Thu, February 8, 2024 at 3:40 a.m. PST·33 min read
CCO.TO
-1.79%
CCJ
-1.89%
SASKATOON, Saskatchewan, February 08, 2024--(BUSINESS WIRE)--Cameco (TSX: CCO; NYSE: CCJ)
Stallion Uranium Announces Closing of Listed Issuer Financing Exemption (LIFE) Non-Brokered Private Placement
Thursday, February 8, 2024 1:05 PM PST
GLOBENEWSWIRE
VANCOUVER, British Columbia, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Stallion Uranium Corp. (the "Company" or "Stallion") (TSX-V: STUD; OTCQB: $ STLNF ; FSE: HM40) is pleased to announce that, further to its news release dated January 23, 2024, it has closed a non-brokered private placement (the "Offering") for aggregate gross proceeds of C$3,883,821.90, from the sale of the following:
4,779,460 Federal flow-through units of the Company (each, an “FFT Unit”) at a price of C$0.32 per FFT Unit on a charity flow-through basis;
4,248,318 Saskatchewan flow-through units of the Company (each, a “SFT Unit”) at the price of C$0.36 per SFT Unit on a charity flow-through basis; and
3,750,001 units of the Company (each, a “Unit”, and together with the FFT Units and the SFT Units, the “Offered Securities”) at a price of C$0.22 per Unit.
Each FFT Unit consists of one common share of the Company (each, a “FFT Share”) to be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (the “Tax Act”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each SFT Unit consists of one common share of the Company (each, a “SFT Share”) to be issued as a “flow-through share” (as defined in subsection 66(15) of the Tax Act) and one-half of one Warrant. Each Unit consists of one common share of the Company and one-half of one Warrant. Each Warrant shall entitle the holder to purchase one common share of the Company at a price of C$0.36 at any time on or before that date which is 24 months after the closing date of the Offering.
Proceeds from the sale of FFT Shares will be used to incur "Canadian exploration expenses" as defined in subsection 66.1(6) of the Income Tax Act and "flow through critical mineral mining expenditures" as defined in subsection 127(9) of the Income Tax Act. Proceeds from the sale of the SFT Shares will be used to incur “Canadian exploration expenses” that are “flow-through critical mineral mining expenditures” (as such terms are defined in the Tax Act) and “eligible flow-through mining expenditures” (as defined in paragraph 2(2)(b) of The Mineral Exploration Tax Credit Regulations, 2014 (Saskatchewan)). Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2024, in the aggregate amount of not less than (i) in the case of the FFT Shares, 0.31999 multiplied by the number of FFT Units sold pursuant to the Offering, and (ii) in the case of the SFT Shares, 0.35999 multiplied by the number of SFT Units sold pursuant to the Offering.
The Offered Securities were issued pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the “Listed Issuer Financing Exemption”) and shall be immediately freely tradeable under applicable Canadian securities legislation.
Pursuant to the Offering, the Company has paid a total of $196,696 and issued an aggregate 805,194 finder’s warrants to arm’s-length parties, with each non-transferable finder’s warrant exercisable at any time prior to the date that is 24 months from the closing date to acquire common shares of the Company at an exercise price of C$0.22 per common share. In addition, the Company has paid $100,000 as an advisory fee to Canaccord Genuity Corp.
The Company intends to use the proceeds raised from the Offering for exploration and for general working capital purposes. The Offering is subject to the final approval of the TSX Venture Exchange.
About Stallion Uranium
Stallion Uranium is working to Fuel the Future with Uranium through the exploration of over 3,000 sq/km in the Athabasca Basin, home to the largest high-grade uranium deposits in the world. The company, with JV partner Atha Energy (CSE:SASK), holds the largest contiguous project in the Western Athabasca Basin adjacent to multiple high-grade discovery zones.
Our leadership and advisory teams are comprised of uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties.
Stallion offers optionality with two gold projects in Idaho and Nevada that neighbour world class gold deposits offering exposure to upside potential from district advancement with limited capital expenditures.
For more information visit stallionuranium.com or contact:
https://www.mining.com/press-release/?id=65c54f0a7970d00311df25e4
Basin Uranium Stakes New Uranium Project
https://www.newsfilecorp.com/release/197137
February 07, 2024 9:00 AM EST | Source: Basin Uranium
Vancouver, British Columbia--(Newsfile Corp. - February 7, 2024) - BASIN URANIUM CORP. (CSE: NCLR) (CNSX: NCLR.CN) ("Basin Uranium" or the "Company") is pleased to announce it has acquired the Wolf Canyon Uranium Project (the "Project" or "Wolf Canyon") located in Fall River County, South Dakota, USA. The Project, which was acquired through direct staking by the Company, is comprised of 80 unpatented mineral lode claims totaling 1,600 acres located two miles east of US Hwy-18 and approximately eight miles east of the Company's flagship Chord project.
"The staking of Wolf Canyon represents our continued expansion into the USA, focused on acquiring strategic assets located in prolific mining districts with extensive historical exploration," commented Mike Blady, CEO of Basin Uranium. "The recent tabling of House Bill 1071, efforts are underway to allow the governor to agree with the Nuclear Regulatory Commission to bring uranium mining and nuclear energy back to the Rushmore State (South Dakota) which has nearly 300 historic mines and prospects in the western portion of the state alone."
Figure 1: Wolf Canyon Project Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8416/197137_2d4bc826f4d8c899_001full.jpg
Wolf Canyon Project, South Dakota
The Wolf Canyon Uranium Project is comprised of 1,600 acres of contiguous claims (80 unpatented mineral lode claims) located 10 miles east of Edgemont, South Dakota. Access to the property is facilitated through US Highway 18, located two miles to the west, with year-round gravel and ATV roads servicing the claims. The Wolf Canyon project lies within the northeast trending Long Mountain structural zone with uranium mineralization hosted in the Inyan Kara sedimentary group. The uranium deposits of southwest South Dakota are roll-front style typically found in paleo-fluvial channels similar to those found in Wyoming and other productive districts. Exploration on Wolf Canyon dates back to the 1970's with several large companies having drilled numerous wells on the property. Specifically, resource drilling by Union Carbide Corp. in the 1970's reported uranium mineralization significant enough to commission an internal resource, however additional verification and validation must be performed by the Company's Qualified Person before being disclosed publicly.
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.
Option and Restricted Share Unit Grant
The Company has granted a total of 267,211 stock options under the Company's stock option plan to various business consultants. The options vest immediately and are exercisable for a period of five years at an exercise price of $0.33.
In addition, the Company has also issued an aggregate of 305,000 restricted share units ("RSUs") to certain officers, directors and consultants of the Company. The RSUs vest immediately and are exercisable for a period of five years. The incentive options and RSUs are subject to a hold period of four months and a day from issuance in accordance with the Canadian Securities Exchange Policy 6.
Investor Relations
The Company has entered into an agreement dated February 6, 2024 (the "IR Agreement") with Brisco Capital Partners Corp. ("Brisco") pursuant to which Brisco will provide the Company with marketing and investor relations services to expand investor awareness of the Company's business and to communicate with the investment community (the "Promotional Activity"). The Promotional Activity will include liaising with the investment community, introducing the management of the Company to investors, assisting in the presentation of information to those potential investors, and may also include the organization of roadshows. The Company has engaged Brisco for a term of 12 months, unless extended by the parties, and the Promotional Activity is expected to commence on February 6, 2024 and is expected to end on or around February 6, 2025. The Company is permitted to terminate the IR Agreement at any time upon giving 30 days of notice to Brisco.
As consideration for the provision of the Promotional Activity, and pursuant to the terms and conditions of the IR Agreement, the Company has agreed to (i) pay Brisco a monthly fee of $7,500, (ii) grant Brisco 250,000 stock options (the "Brisco Options"), and (iii) reimburse Brisco for all reasonable out of pocket expenses. The Brisco Options, 25% of which will vest every three months following the date of grant, will be exercisable to acquire common shares at a price of $0.33 for a period of five years from the date of grant.
Brisco is an Alberta-based, full-service investor relations firm with more than two decades of experience working with publicly listed Canadian issuers, with a particular focus on resource companies. Brisco assists its clients with formulating and implementing an investor relations and communication strategy, including introducing its clients to a broad network of high-net-worth investors, retail brokers, institutional buyside portfolio managers and industry-specific analysts. Scott Koyich, the principal of Brisco, with an address located at 400, 505 8th Avenue SW. Calgary, Alberta, T2P 1G2 and who can be contacted at (403) 619-2200 and scott@briscocapital.com, will be involved in conducting the Promotional Activity. Brisco and Scott Koyich are arm's length from the Company.
About Basin Uranium Corp.
Basin Uranium is a Canadian junior exploration company focused on mineral exploration and development in the green energy sector. The company has three advanced-stage uranium projects located in the United States, namely the Chord and Wolf Canyon project in South Dakota, the South Pass project in Wyoming, and the Wray Mesa project in Utah. All four projects have seen extensive historical exploration and are located in prospective development areas. The Company also has the Mann Lake uranium project, located in the world-class Athabasca basin of Northern Saskatchewan, Canada, in addition to the CHG gold project in south-central British Columbia.
For further information, please contact Mr. Mike Blady or view the Company's filings at www.sedar.com.
On Behalf of the Board of Directors
Mike Blady
Chief Executive Officer
info@basinuranium.ca
604-722-9842
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.
FORWARD-LOOKING STATEMENTS:
Cautionary Note Regarding Forward-Looking Statements: This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-Looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary include, without limitation, uncertainties affecting the expected use of proceeds. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
SOURCE: Basin Uranium
Tisdale Clean Energy To Begin Initial Phase One Drill Program at South Falcon East Uranium Project, Athabasca Basin, Saskatchewan
https://thenewswire.com/press-releases/1AwGFawNz-tisdale-clean-energy-to-begin-initial-phase-one-drill-program-at-south-falcon-east-uranium-project-athabasca-basin-saskatchewan.html
Vancouver B.C. - TheNewswire - February 8, 2024 – TISDALE CLEAN ENERGY CORP. (“Tisdale” or the “Company”) (TSXV:TCEC) (OTC:TCEFF) (FSE:T1KC), is pleased to confirm its upcoming work program at the South Falcon East Uranium Project which hosts the Fraser Lakes B uranium deposit. The south Falcon East Project lies 18 km outside the edge of the Athabasca Basin, approximately 50 km east of the Key Lake uranium mill and former mine.
Tisdale Clean Energy Corp entered into an option agreement with SkyHarbour Resources Ltd in October of 2022 whereby the company can earn up to a 75% interest in the South Falcon East property.
The Company is set to begin a preliminary phase one drill program for late winter 2024. The initial phase one program will consist of up to approximately 1,500 meters of drilling. The priority will be to confirm and expand the existing mineralization associated with the Fraser Lakes B Uranium Deposit (Figure 2). Infill drilling will confirm the presence and continuity of existing mineralization in preparation for a current updated resource estimate and 3D model in the future. Step out drilling will endeavor to expand the footprint of the deposit, as the current mineralization is open in all directions. Initial focus will be in extending mineralization along strike and down dip into the basement.
A secondary priority will be to begin regional exploration by following up promising anomalies located in the T-Bone Lake area (Figure 2). Regional drilling will focus on the effort to add additional mineralized zones and deposits along the folded structural package that hosts the Fraser Lakes B Deposit.
“The commencement of drilling is a milestone in terms of our ability to unlock the value contained at South Falcon,” said Alex Klenman, CEO. “Right now, nobody is getting much credit for those pounds in the ground. This will begin to change as we drill and earn our interest in the project. The initial phase one plan allows us to meet the early obligations of the earn-in with Skyharbour. We are hopeful our valuation will grow as a result, therefore reducing the barrier to entry for institutional support and giving us the opportunity to implement larger drill programs moving forward through 2024 and beyond.
“We believe very strongly that both the size and average grade of the resource can be increased. The last holes drilled in 2015 generated U308 values of .172% and .165% over intervals of two meters or more. These results established that higher grade uranium exists within the deposit. We have a very compelling exploration narrative, and one we feel confident in pursuing. No doubt the first steps are the hardest, and we’re pleased we’re able to begin to execute on the plan,” continued Mr. Klenman.
“We are thrilled to have Tisdale commence their inaugural drill program at South Falcon East,” said Jordan Trimble, CEO of Skyharbour Resources. “The project is an advanced-stage exploration asset that hosts a near-surface uranium resource with strong expansion potential as well as robust discovery upside potential regionally on the property. We are confident that this winter drill program will unlock further value for both companies’ shareholders with the uranium price trading near sixteen-year highs,” continued Mr. Trimble.
The field program is anticipated to commence in late February and will be executed by Terralogic Exploration Inc. under the supervision of Laura Tennent, Project Manager with TerraLogic Exploration, and C. Trevor Perkins, consulting geologist for Tisdale. The drill program will be operating out of Skyharbour’s McGowan Lake Camp with helicopter support for the daily drilling operations. The expected budget for the initial phase one program is anticipated to be $1.25 million.
Click Image To View Full Size
Figure 1: South Falcon East Project Location – Eastern Athabasca Basin, Saskatchewan, Canada
Click Image To View Full Size
Figure 2: 2024 Drill Target areas at the south Falcon East Uranium Project
Click Image To View Full Size
Figure 3: South Falcon East Project – Camp and drilling location Map
About the South Falcon East Project
The South Falcon East Project is a uranium exploration project in the southeast Athabasca Basin and represents a portion of Skyharbour Resources Ltd.’s existing South Falcon Project. The project covers approximately 12,464 hectares and lies 18 kilometers outside the Athabasca Basin, approximately 50 kilometers east of the Key Lake Mine.
The South Falcon East Project contains the Fraser Lakes B Uranium/Thorium Deposit with a historic mineral resource* of 6.9 Mlbs U3O8 inferred at a grade of 0.03% U3O8 and 5.3 Mlbs ThO2 inferred at a grade of 0.023 % ThO2. Uranium and thorium mineralization discovered to date is shallow classic Athabasca-style basement mineralization associated with well-developed EM conductors.
About Tisdale Clean Energy Corp.
Tisdale Clean Energy is a Canadian-based uranium exploration and development company. The Company is currently developing the South Falcon East uranium project, which holds a 6.96M pound inferred uranium resource within the Fraser Lakes B uranium/thorium deposit, located in the Athabasca Basin region, Saskatchewan, Canada.
Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by C. Trevor Perkins, P.Geo., a Consulting Geologist for the Company, and a Qualified Person as defined by National Instrument 43-101.
*The historical resource is described in the Technical Report on the South Falcon East Property, filed on sedar.com on February 9, 2023. The Company is not treating the resource as current and has not completed sufficient work to classify the resource as a current mineral resource. While the Company is not treating the historical resource as current, it does believe the work conducted is reliable and the information may be of assistance to readers.
ON BEHALF OF THE BOARD OF TISDALE CLEAN ENERGY CORP.
“Alex Klenman”
Alex Klenman, CEO
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.
For further information please contact:
Alex Klenman, CEO
Tel: 604-970-4330
info@tisdalecleanenergy.com
Tisdale Clean Energy Corp
Suite 2200, HSBC Building, 885 West Georgia St.
Vancouver, BC V6C 3E8 Canada
www.tisdalecleanenergy.com
ATHA Energy Provides Further Updates to Transactions With 92 Energy and Latitude Uranium
https://ca.finance.yahoo.com/news/atha-energy-provides-further-updates-120000063.html
ATHA Energy Corp.
Wed, February 7, 2024 at 4:00 a.m. PST·2 min read
SASKF
+5.4909%
LURAF
+3.0655%
NTELF
+8.3333%
HIGHLIGHTS
ATHA has successfully obtained executed resolutions approving the Transactions (as defined below) from shareholders of ATHA holding greater than 50% of the issued and outstanding common shares of ATHA.
Latitude has commenced mailing of its management information circular and related materials.
The 92E scheme process is progressing in accordance with the previously disclosed timetable.
VANCOUVER, British Columbia, Feb. 07, 2024 (GLOBE NEWSWIRE) -- ATHA Energy Corp. (CSE: SASK) (FRA: X5U) (OTCQB: SASKF) (“ATHA”) is pleased to provide another update on its previously announced proposed acquisition transactions (together, the “Transactions”) with Latitude Uranium Inc. (CSE: LUR) (“Latitude”) and 92 Energy Limited (ASX: 92E) (“92E”) further to its press releases dated December 7, 2023 and January 25, 2024.
ATHA is pleased to announce that in accordance with the policies of the Canadian Securities Exchange (the “CSE”), it has successfully obtained executed resolutions approving the Transactions from shareholders of ATHA holding greater than 50% of the issued and outstanding common shares of ATHA (“ATHA Shares”).
ATHA is also pleased to announce that Latitude has commenced mailing of its management information circular and related materials, copies of which are available under Latitude’s profile on SEDAR+ at www.sedarplus.ca, with respect to Latitude’s special meeting of shareholders to be held on February 27, 2024 at 10:00 a.m. (Toronto Time) called to approve ATHA’s Transaction with Latitude, and that the 92E scheme process is progressing in accordance with the previously disclosed timetable.
Troy Boisjoli, CEO of ATHA, commented: “We are excited to update our shareholders on several material advancements to these transformational transactions that we believe position us to derive significant value from an industry-leading portfolio of uranium assets, at a time when market fundamentals have never been stronger.” Adding further Mr. Boisjoli stated, “As we continue to work towards closing, we feel confident that ATHA is moving into a new era of growth and opportunity that is in line with our strategic goal of discovering and developing Canada’s next generation of uranium assets.”
For additional information on the Transactions, please refer to ATHA’s news releases dated December 7, 2023 and January 25, 2024.
About ATHA
ATHA is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties. ATHA holds the largest cumulative exploration package in each of the Athabasca Basin and Thelon Basin, two of the world’s most prominent basins for uranium discoveries, with 6.4 million total acres along with a 10% carried interest portfolio of claims in the Athabasca Basin operated by NexGen Energy Ltd. and Iso Energy Ltd.
For more information visit www.athaenergy.com.
For more information, please contact:
Troy Boisjoli
Chief Executive Officer
Email: troy@athaenergy.com
1-306-460-5353
www.athaenergy.com
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
None of the securities to be issued pursuant to the Transactions have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issuable in the Transactions are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities.
Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. These forward-looking statements or information may relate to, among other things, the Transactions, including statements with respect to the Latitude and 92E shareholder meetings and the documents prepared by Latitude and 92E in connection therewith, the receipt of the required regulatory, stock exchange (including the CSE, TSX Venture Exchange and Australian Securities Exchange) and other approvals, and the ability of ATHA, Latitude and 92E to successfully close the Transactions.
Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions regarding the ability of ATHA to satisfy the conditions imposed in connection with the completion of the Transactions, including finalization of meeting materials in connection with the 92E shareholder meeting, receipt of required shareholder, regulatory, court and stock exchange approvals, the ability of ATHA, 92E and Latitude to satisfy, in a timely manner, the other conditions to the closing of the Transactions, other expectations and assumptions concerning the Transactions, and that general business and economic conditions will not change in a material adverse manner. Although each of ATHA, 92E and Latitude have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
Such statements represent the current views of ATHA, 92E and Latitude with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by ATHA, 92E and Latitude, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: inability of ATHA, 92E and Latitude to finalize meeting materials and/or obtain the requisite shareholder approvals; inability of ATHA, 92E and Latitude to complete the Transactions or satisfy certain conditions precedent thereto; the inability of ATHA to satisfy all conditions to its proposed listing on the TSX Venture Exchange; a material adverse change in the timing of any completion and the terms and conditions upon which the Transactions is completed; inability to satisfy or waive all conditions to closing the Transactions; shareholders or 92E or Latitude not approving the Transactions; the CSE and/or the TSX Venture Exchange not providing approval to the Transactions and all required matters related thereto; the inability of the consolidated entity to realize the benefits anticipated from the Transactions and the timing to realize such benefits, including the exploration and drilling targets; unanticipated changes in market price for ATHA Shares, 92E shares and/or Latitude shares; changes to ATHA’s, 92E’s and/or Latitude’s current and future business and exploration plans and the strategic alternatives available thereto; growth prospects and outlook of the business of each of ATHA, 92E and Latitude; treatment of the Transactions under applicable competition laws and the Investment Canada Act; regulatory determinations and delays; any impacts of COVID-19 on the business of the consolidated entity and the ability to advance ATHA projects; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions in Canada, Australia and other jurisdictions where the applicable party conducts business. Other factors which could materially affect such forward-looking information are described in the filings of ATHA and Latitude with the Canadian securities regulators which are available, respectively, on each of ATHA’s and Latitude’s profiles on SEDAR+ at www.sedarplus.ca and filings of 92E with the Australian regulatory authorities. None of ATHA, 92E or Latitude undertake to update any forward-looking information, except in accordance with applicable securities laws.
Appia Announces Plans for Drilling at the Loranger Uranium-Bearing Property, Saskatchewan, Canada
https://www.newsfilecorp.com/release/196600
February 02, 2024 7:30 AM EST | Source: Appia Rare Earths & Uranium Corp.
Toronto, Ontario--(Newsfile Corp. - February 2, 2024) - Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0) (MUN: A0I0) (BER: A0I0) (the "Company" or "Appia") is pleased to announce its plans for drilling at the 100%-owned uranium-bearing Loranger property in northern Saskatchewan in conjunction with the signing of a strategic collaboration agreement with the Ya'thi Néné Lands and Resources Office ("YNLR"). This diamond drilling program emphasizes Appia's excitement to capitalize on the rising uranium market in collaboration with the YNLR and local Wollaston residents.
The Loranger diamond drilling program is pending permitting and is slated to commence between late February and early April, and represents a pivotal step in Appia's multi-year exploration efforts to develop its five (5) uranium properties. In partnership with the YNLR and the local Wollaston community, the program will follow up by targeting some of the approximately twenty (20) favourable electromagnetic and uranium-bearing geophysical anomalies (Figure 1) of the property within the eastern Wollaston Domain, in particular the Tabbernor Fault minerals system.
Situated adjacent to the renowned, uranium-rich Athabasca Basin, Appia believes the Loranger Property holds strong potential for valuable uranium deposits.
Appia's Loranger winter diamond drilling program is anticipated to include 1,000 to 1,200 metres across 8 to 10 drill holes, aiming to uncover new uranium discoveries to follow-up on what was drilled in 2017 and 2019. This program's success is expected to contribute significantly to the understanding of the property's uranium mineralization and the implications for further discoveries within its complex geological terrain.
The agreement between Appia and the YNLR facilitates a mutual working relationship during the Loranger diamond drilling program, allowing for respectful and timely working relationships between both parties, and a push toward the project's success. This cooperative approach ensures that the exploration activities benefit both the Company and the region's communities.
"After many constructive negotiations, we are very excited to return to northern Saskatchewan this winter season to explore the economic potential of our Loranger property, just as the uranium markets have seen a surge over the past 12 months," stated Stephen Burega, President.
The technical content in this news release was reviewed and approved by Dr. Irvine R. Annesley, P.Geo., Vice President Exploration, and a Qualified Person as defined by National Instrument 43-101.
Figure 1 - DRILL TARGET LOCATIONS, LORANGER PROJECT, SK
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5416/196600_3d8fcd67c4e40b8f_001full.jpg
About Appia Rare Earths & Uranium Corp. (Appia)
Appia is a publicly traded Canadian company in the rare earth element and uranium sectors. The Company is currently focusing on delineating high-grade critical rare earth elements and gallium on the Alces Lake property, as well as exploring for high-grade uranium in the prolific Athabasca Basin on its Otherside, Loranger, North Wollaston, and Eastside properties. The Company holds the surface rights to exploration for 113,837.15 hectares (281,297.72 acres) in Saskatchewan. The Company also has a 100% interest in 13,008 hectares (32,143 acres), with rare earth elements and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario. Lastly, the Company holds the right to acquire up to a 70% interest in the PCH Project which is 17,551.07 ha. in size and located within the Goiás State of Brazil. (See June 9th, 2023 Press Release - Click HERE) The company successfully added 23,412.11 ha to the PCH project's total hectares by staking 12 new claims, bringing the overall project size to 40,963.18 ha.
Appia has 136.3 million common shares outstanding, 144.1 million shares fully diluted.
Cautionary note regarding forward-looking statements: This News Release contains forward-looking statements which are typically preceded by, followed by or including the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. Forward-looking statements are not a guarantee of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward-looking statements and shareholders are cautioned not to put undue reliance on such statements.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For more information, visit www.appiareu.com.
As part of our ongoing effort to keep investors, interested parties and stakeholders updated, we have several communication portals. If you have any questions online (X,?Facebook,?LinkedIn)?please feel free to send direct messages.
To book a one-on-one 30-minute Zoom video call, please?click here.
Contact:
Tom Drivas, CEO and Director
(c) (416) 876-3957
(e) tdrivas@appiareu.com
Stephen Burega, President
(c) (647) 515-3734
(e) sburega@appiareu.com
SOURCE: Appia Rare Earths & Uranium Corp.
Standard Uranium Announces Acquisition of Three Additional Uranium Exploration Properties in the Athabasca Basin Region, Saskatchewan
https://ca.finance.yahoo.com/news/standard-uranium-announces-acquisition-three-110000982.html
Standard Uranium Ltd.
Thu, February 1, 2024 at 3:00 a.m. PST·7 min read
STTDF
-2.9461%
Figure 1.
Overview map of Standard Uranium’s ten Athabasca
Figure 2.
Plan map highlighting the Cable Bay shear zone and EM conductor trends on the Cable Bay SW project along strike from anomalous uranium samples, with first vertical derivative magnetics in the background.
Figure 3.
Plan map highlighting the magnetic low/EM corridor at Ox Lake crosscut by an interpreted N-S trending regional fault, in addition to spatial relationships to uranium occurrences. First vertical derivative magnetics in the background.
Figure 4.
Plan map highlighting the magnetic low/fault trend on the Brown Lake project along strike from the high-grade Shift Lake Uranium Zone, with background first vertical derivative magnetics.
VANCOUVER, British Columbia, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to announce the acquisition by staking of three new 100% owned uranium exploration properties in the Athabasca Basin region, northern Saskatchewan.
With the addition of the Cable Bay Southwest (“CBSW”), Ox Lake, and Brown Lake Projects (as described below), the Company now has ownership interests in ten projects, totalling over 196,300 acres across the uranium-rich Athabasca Basin. With three earn-in option agreements completed since expanding the Company’s business strategy to include project generation in addition to pure exploration strategies, the Company continues to seek strategic partners to advance non-core projects, including these newly acquired assets.
Key Highlights:
Three new project areas targeting shallow high-grade1 uranium mineralization in the Athabasca Basin region of Saskatchewan
Several kilometres of untested conductors coincident with magnetic low trends and key structural geology attributes
Proximity to historical uranium showings, the Key Lake Mill, and other favorable infrastructure in the eastern Athabasca Basin
Increased exposure to new areas of the Athabasca Basin and further joint venture and land deal opportunities
The Company considers uranium mineralization with concentrations greater than 1.0 wt% U3O8 to be “high-grade”.
“The acquisition of these new properties, further increasing our land holdings to ten projects, provides Standard Uranium shareholders with increased exposure to transactional and discovery upside,” said Sean Hillacre, President & VP Exploration for the Company. “This is yet another example of our technical team continuing to identify areas with shallow drill targets and favorable geology for uranium discovery, and we look forward to what we will be able to do with these claims in 2024.”
Overview map of Standard Uranium’s ten Athabasca
Figure 1. Overview map of Standard Uranium’s ten Athabasca projects, highlighting the newly staked Cable Bay SW, Ox Lake, and Brown Lake Projects.
“Dedication and focus have once again paid off with the addition of this latest set of properties,” stated Neil McCallum, lead technical director of Standard. “These properties all have significant exploration merit that we seek to unlock through either our own capital or through option/land deals.”
Cable Bay SW Project
The CBSW project comprises two mineral claims totalling 3,158 ha and is approximately 18 km south of the present-day margin of the Athabasca Basin. The project covers 8.6 km of the northeast trending Cable Bay Shear Zone (“CBSZ”), a major structural discontinuity which is host to several uranium occurrences proximate to and along strike of the structural corridor on the property. The CBSZ is characterized by a regional magnetic high corridor flanked by magnetic gradients. Electromagnetic (“EM”) surveys conducted in the late 1970’s outline an EM zone associated with a magnetic low, paralleling the northwestern flank of the CBSZ. The northern claim block covers an apparent left-lateral break in the magnetic high corridor, with the eastern splay of magnetic high tying into the hinge of an interpreted fold structure of metasedimentary rock units on the property. The Project has never been drill-tested, and will benefit from additional surface sampling and geophysical surveys to aid in future drill target generation.
Plan map highlighting the Cable Bay shear zone and EM conductor trends on the Cable Bay SW project along strike from anomalous uranium samples, with first vertical derivative magnetics in the background.
Figure 2. Plan map highlighting the Cable Bay shear zone and EM conductor trends on the Cable Bay SW project along strike from anomalous uranium samples, with first vertical derivative magnetics in the background.
Ox Lake Project
The Ox Lake Project consists of one mineral claim totaling 397.5 ha, situated 3 km southeast of the Athabasca Basin margin, 45 kilometres southeast of McArther River Mine, and 19.5 km northeast of the Gemini Mineralized Zone (“GMZ”) and the ACKIO uranium discovery. The project is highlighted by a regional northeast-trending magnetic low/EM corridor that is bisected by a north-south trending Tabbernor-style fault corridor, interpreted to be a regional structural influence on uranium mineralization in the area (Figure 3). Results from drill hole GKI002 completed by CanAlaska Uranium and Basin Energy on the neighbouring Geikie project in 2023 returned 0.27% U3O8 over 0.5m to the south along strike of the same interpreted Tabbernor fault that transects the Ox Lake property. Additionally, the Ox Lake Allanite Showing, discovered immediately southwest of the property, hosts up to 0.31% U3O8 in drill hole 4-OX-1. Historical geochemical surveys conducted on the project detected elevated uranium, radioactivity, and anomalous radon that are favorably situated proximal to the structural corridor on the property.
Plan map highlighting the magnetic low/EM corridor at Ox Lake crosscut by an interpreted N-S trending regional fault, in addition to spatial relationships to uranium occurrences. First vertical derivative magnetics in the background.
Figure 3. Plan map highlighting the magnetic low/EM corridor at Ox Lake crosscut by an interpreted N-S trending regional fault, in addition to spatial relationships to uranium occurrences. First vertical derivative magnetics in the background.
Brown Lake Project
The Brown Lake Project consists of one mineral claim totalling 312 ha, situated near the southeastern margin of the Athabasca Basin, 13 kilometers northwest of the Key Lake Mill facilities. The property hosts 2.4 km of an untested magnetic low/fault trend that is 4 km southwest along strike of the Shift Lake Uranium Zone. The Shift Lake zone contains mineralized drill holes 79-17, 79-40, 79-45, and 79-59, in which uranium assays greater than 0.10% U3O8 were returned, notably 79-17 which hosts 0.62% U3O8 over 2.75 m and up to 2.42% U3O8 over 0.75 m. In 2011, 3D modelling of previous magnetics and resistivity depth imaging (“RDI”) slices delineated a northeast-trending fault zone, termed the Brown Lake Fault Zone (“BLFZ”; Figure 4). Recent modelling also defined an anomalous conductive body on the property based on alteration-related conductive halos observed in RDI sections, supporting the inferred continuation of the Shift Lake conductive trend and therefore prospectivity for uranium mineralization. The all-season highway between Key Lake and Points North is 12 km to the southeast of the property, while the Fox Lake fork off the main highway lies within 2 km of the eastern property boundary (Figure 4).
Plan map highlighting the magnetic low/fault trend on the Brown Lake project along strike from the high-grade Shift Lake Uranium Zone, with background first vertical derivative magnetics.
Figure 4. Plan map highlighting the magnetic low/fault trend on the Brown Lake project along strike from the high-grade Shift Lake Uranium Zone, with background first vertical derivative magnetics.
The Company believes the newly acquired Projects are prospective for the discovery of high-grade basement-hosted and unconformity-related uranium mineralization and are open to option deals on these non-core projects. The staking of these Projects fits with the Company’s strategy to increase its landholdings in the infrastructure-rich eastern Athabasca Basin of Saskatchewan, Canada.
The scientific and technical information contained in this news release, including the sampling, analytical and test data underlying the technical information contained in this news release, has been reviewed, verified, and approved by Sean Hillacre, P.Geo., President & VP Exploration of the Company and a “qualified person” as defined in NI 43-101.
About Standard Uranium (TSX-V: STND)
We find the fuel to power a clean energy future
Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in the world’s richest uranium district. The Company holds interest in over 196,329 acres (79,451 hectares) in the world-class Athabasca Basin in Saskatchewan, Canada. Since its establishment, Standard Uranium has focused on the identification, acquisition, and exploration of Athabasca-style uranium targets with a view to discovery and future development.
Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, comprises ten mineral claims over 30,737 hectares. Davidson River is highly prospective for basement-hosted uranium deposits due to its location along trend from recent high-grade uranium discoveries. However, owing to the large project size with multiple targets, it remains broadly under-tested by drilling. Recent intersections of wide, structurally deformed and strongly altered shear zones provide significant confidence in the exploration model and future success is expected.
Standard Uranium’s Atlantic, Canary, Ascent, Corvo, and Rocas Projects, in the eastern Athabasca Basin, comprise twenty-three mineral claims over 29,520 hectares. The eastern basin projects are highly prospective for unconformity related and/or basement hosted uranium deposits based on historical uranium occurrences, recently identified geophysical anomalies, and location along trend from several high-grade uranium discoveries.
Standard Uranium's Sun Dog project, in the northwest part of the Athabasca Basin, Saskatchewan, is comprised of nine mineral claims over 19,603 hectares. The Sun Dog project is highly prospective for basement and unconformity hosted uranium deposits yet remains largely untested by sufficient drilling despite its location proximal to uranium discoveries in the area.
For further information contact:
Jon Bey, Chief Executive Officer, and Chairman
Suite 918, 1030 West Georgia Street
Vancouver, British Columbia, V6E 2Y3
Tel: 1 (306) 850-6699
E-mail: info@standarduranium.ca
Cautionary Statement Regarding Forward-Looking Statements
This news release contains “forward-looking statements” or “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements include, but are not limited to, statements regarding: execution of the definitive agreement; conditions to the exercise the Option; completion of the Optionee’s go public transaction; the timing and content of upcoming work programs; geological interpretations; timing of the Company’s exploration programs; and estimates of market conditions.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements are highlighted in the “Risks and Uncertainties” in the Company’s management discussion and analysis for the fiscal year ended April 30, 2023.
Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company’s actual financial results, performance, or achievements to be materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop forward-looking statements include, without limitation: that the transaction with the Optionee will proceed as planned; the future price of uranium; anticipated costs and the Company’s ability to raise additional capital if and when necessary; volatility in the market price of the Company’s securities; future sales of the Company’s securities; the Company’s ability to carry on exploration and development activities; the success of exploration, development and operations activities; the timing and results of drilling programs; the discovery of mineral resources on the Company’s mineral properties; the costs of operating and exploration expenditures; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); uncertainties related to title to mineral properties; assessments by taxation authorities; fluctuations in general macroeconomic conditions.
The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/df42a8ba-fb76-43f5-899c-eefde7c54345
https://www.globenewswire.com/NewsRoom/AttachmentNg/8e695056-9dbc-4ab0-ba51-725ad9e3e323
https://www.globenewswire.com/NewsRoom/AttachmentNg/3dc6c2d7-14e0-4c0a-ac06-4b6bbe73d757
https://www.globenewswire.com/NewsRoom/AttachmentNg/97394b5e-e7e0-41b0-91da-8f0d915ef3a6
Stallion Uranium Engages Axiom Exploration for Aerial Gravity Survey over Gunter Lake Uranium Project
https://ca.finance.yahoo.com/news/stallion-uranium-engages-axiom-exploration-110000221.html
Stallion Uranium Corp.
Wed, January 31, 2024 at 3:00 a.m. PST·3 min read
STLNF
+6.55%
Figure 1
Stallion Uranium’s Gunter Lake Project
VANCOUVER, British Columbia, Jan. 31, 2024 (GLOBE NEWSWIRE) -- Stallion Uranium Corp. (the "Company" or "Stallion") (TSX-V: STUD; OTCQB: STLNF; FSE: HM40) is pleased to announce that it has engaged Axiom Exploration Group to conduct an Aerial Gravity Survey over its Gunter Lake ("Gunter Lake” or the "Project") Uranium Project in the southwestern Athabasca Basin, Saskatchewan.
The aerial gravity survey commencing in February is a leading-edge technology that records the density changes in the underlying rocks. The data from the gravity survey, when paired with the existing data from the VTEM™ Plus survey completed last year, will identify potential uranium alteration zones. The gravity survey data is an important determinant in the discovery of uranium mineralization and was one of the key geophysical surveys used during the discovery of NexGen Energy’s Arrow deposit.
“As we are readying to mobilize for Stallion’s maiden drill program on our Appaloosa target, the deployment of the gravity survey will continue to move other prospective target zones towards drill readiness. Stallion’s strategy is to pragmatically advance the highest priority target zones over our large prospective land package in the prolific southwestern Athabasca Basin,” stated Drew Zimmerman, CEO. “We are at an incredibly exciting time where each step we take on our roadmap continues to move Stallion closer to finding the next uranium discovery!”
Xplorer™NxT™ systems are mounted on dedicated AS350 B-series helicopters. The AS350 is ideal for the close terrain following required for geophysical surveys. The unique Starflex rotor system and ample power ensure that even the most stringent survey specifications are maintained. The system will utilize a strap-down laser ring gyro gravimeter collecting gravity data.
Stallion Uranium’s Gunter Lake Project
Figure 1 – Stallion Uranium’s Gunter Lake Project
About Gunter Lake Project
The Gunter Lake Project hosts 4 mineral claims and cover 17,769 hectares of prospective ground in the Western Athabasca Basin. The project has never been drill tested and contains several kilometre-scale prospective zones, one of which the company has named the Coyote target. The Coyote target will be the focus of the up-coming gravity survey which will outline zones of possible uranium alteration. The project is adjacent to NexGen Energy’s SW2 Property which hosts the prolific Arrow Uranium deposit.
Qualifying Statement:
The foregoing scientific and technical disclosures for Stallion Uranium have been reviewed by Darren Slugoski, P.Geo., VP Exploration, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Mr. Slugoski is a Qualified Person as defined by National Instrument 43-101.
About Stallion Uranium
Stallion Uranium is working to Fuel the Future with Uranium through the exploration of over 3,000 sq/km in the Athabasca Basin, home to the largest high-grade uranium deposits in the world. The company, with JV partner Atha Energy, holds the largest contiguous project in the Western Athabasca Basin adjacent to multiple high-grade discovery zones.
Our leadership and advisory teams are comprised of uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties.
Stallion offers optionality with two gold projects in Idaho and Nevada that neighbour world class gold deposits offering exposure to upside potential from district advancement with limited capital expenditures.
For more information visit stallionuranium.com or contact:
Drew Zimmerman
Chief Executive Officer
778-686-0973
info@stallionuranium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”) that relate to the Company’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this material change report should not be unduly relied upon. These statements speak only as of the date they are made.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/901a40fb-3d3e-47dc-8b07-b7164a7adfd0
Nuclear Fuels Reports Positive Drill Results from the Kaycee Uranium Project, Wyoming
https://www.prnewswire.com/news-releases/nuclear-fuels-reports-positive-drill-results-from-the-kaycee-uranium-project-wyoming-302047554.html
Nuclear Fuels Inc. 30 Jan, 2024, 07:00 ET
CSE:NF
OTCQX: NFUNF
VANCOUVER, BC, Jan. 30, 2024 /PRNewswire/ - Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF)
Traction and F3 Complete Gravity Survey at Hearty Bay, Identify Promising Targets for Upcoming Drill Program
https://ca.finance.yahoo.com/news/traction-f3-complete-gravity-survey-080100785.html
Traction Uranium Corp.
Tue, January 30, 2024 at 12:01 a.m. PST·2 min read
TRCTF
+3.0189%
Results from the gravity survey on the Hearty Bay project has identified several zones of possible alteration near head of mineralized boulder train. This has set the stage for the upcoming drill program this winter.
Figure 1
Gravity Anomalies Up-Ice from the two Radioactive Boulder Trains. The blue colours are gravity lows, possible areas of alteration associated with uranium mineralization. Note that the historic drilling did not test these areas.
CALGARY, Alberta, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) is pleased to announce that the 2024 winter gravity survey at the Hearty Bay project has been completed. A total of 2155 stations were measured, the grid starting at the head of the two radioactive boulder trains and covering both up-ice directions and to the east, which is interpreted to be an older ice direction based on glacial features to the south.
The survey has identified a number of gravity lows, several located northeast (up-ice) of the boulder train, but slightly more east than where the historic drilling was targeting. These targets are up to 500m long with the three anomalous areas on the east side lining up along a possible north-south fault system. This gives Traction and F3 excellent targets for the upcoming sonic drill program. This appears to be intersected by a north-west trending feature marked by gravity lows and a distinctive magnetic signature. This complex setting, nicely defined by the new gravity survey, will hopefully lead Traction and F3 to discovering the source of the radioactive boulder trains (boulders grading up to 8.23% U3O8) that has eluded exploration programs in the past.
The upcoming drill program is slated to start near the end of February – early March and will consist of approximately 2,000 metres.
Qualified Person
The technical content of this news release has been reviewed and approved by Ken Wheatley, 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 Company’s properties but may not be representative of expected results.
About Traction Uranium Corp.
Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) is in the business of mineral exploration and the development of discovery prospects in Canada, including its three 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.
Gravity Anomalies Up-Ice from the two Radioactive Boulder Trains. The blue colours are gravity lows, possible areas of alteration associated with uranium mineralization. Note that the historic drilling did not test these areas.
Figure 1. Gravity Anomalies Up-Ice from the two Radioactive Boulder Trains. The blue colours are gravity lows, possible areas of alteration associated with uranium mineralization. Note that the historic drilling did not test these areas.
On Behalf of The Board of Directors
Lester Esteban
Chief Executive Officer
+1 (604) 425-2271
info@tractionuranium.com
Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The CSE has neither approved nor disapproved the information contained herein.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7b888123-1dbb-4b95-abae-0ecbacf91b7d
Pegasus Resources Samples 7800ppm Uranium at Energy Sands Utah
https://www.accesswire.com/829583/retransmission-pegasus-resources-samples-7800ppm-uranium-at-energy-sands-utah
Wednesday, 31 January 2024 07:30
VANCOUVER, BC / ACCESSWIRE / January 31, 2024 / Pegasus Resources Inc. (TSXV:PEGA)(Frankfurt:0QS0)(OTC Pink Sheet symbol:SLTFF) (the "Company" or "Pegasus") is delighted to announce the successful completion of a comprehensive geological mapping and sampling program on its past-producing Energy Sands property in Utah. For this initiative, the Company collaborated with Dahrouge Geological Consulting USA Ltd. ("Dahrouge") to conduct a thorough assessment, significantly enhancing our understanding of the property's potential.
"The significant 7800 ppm reading on sample ESRS24-037 is an exciting confirmation of promising mineralization at our Energy Sands property in Utah." CEO Christian Timmins stated, "This result boosts our confidence in its strategic value, and we look forward to the detailed analysis from SGS. This analysis will guide informed decisions and strategic advancements in our exploration efforts at Energy Sands."
A total of 41 samples were diligently collected over the 13-day program and have been submitted to SGS Laboratories Services for further detailed analysis. Utilizing the RS-125 handheld spectrometer, Pegasus identified notable samples from prospector outcrops, tailings, outcrops, and historical adits. ESRS24-037 displayed a remarkable 7800 ppm reading, indicating substantial mineralization. Completing the geological mapping and sampling program is crucial in advancing Pegasus' exploration efforts. It provides valuable insights into the mineral-rich potential of the Energy Sands property. The Company remains committed to leveraging this data for informed decision-making as it continues to pursue sustainable resource development.
Figure 1: Sample ESRS24-037 - High-grade sample from shallow prospect. RS-125 U-7800ppm
Figure 2: Sample ESRS24-013 - In-situ sample source from historic adit. RS-125 U>10,000ppm
Figure 3: Sample ESRS24-009 - High-grade in-situ sample. RS-125 U>10,000ppm
*Please note that the RS-125 does not have the highest degree of precision, so these values should be taken as indicators, not absolutes.
*A historical report archived by the United States Geological Survey (USGS) outlines small-scale production of uranium by the Minerals Corporation of America, totalling 51.8 Tons at a grade of 0.373% U3O8 and 1.10% V2O5 occurred between 1953 and 1956 (Byers & Robertson, 1956).
NI 43-101 Disclosure
The technical content of this news release has been reviewed and approved by Jacob Anderson, CPG, MAusIMM, who is a Resource Geologist for Dahrouge Geological Consulting USA Ltd., and a Qualified Person under National Instrument 43-101, who has prepared and/or reviewed the content of this press release.
About Pegasus Resources Inc.
Pegasus Resources Inc. is a diversified Junior Canadian Mineral Exploration Company with a primary focus on uranium, with exposure to gold and base metal properties in North America.
The Company is also actively pursuing the right opportunity in other resources to enhance shareholder value. For additional information, please visit the Company at www.pegasusresourcesinc.com.
On Behalf of the Board of Directors:
Christian Timmins
President, CEO and Director
Pegasus Resources Inc.
700 - 838 West Hastings Street
Vancouver, BC V6C 0A6
PH: 1-403-597-3410
X: https://twitter.com/MrChris_Timmins
X: https://twitter.com/pegasusresinc
E: info@pegasusresourcesinc.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Statements included in this announcement, including statements concerning the Company's plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements." Forward-looking statements may be identified by words including "anticipates," "believes," "intends," "estimates," "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
SOURCE: Pegasus Resources Inc.
Uranium Energy Corp Intersects 6.28% eU3O8 Over 2.9 metres in a 25 metre Step Out from the Roughrider East Zone Deposit
https://www.prnewswire.com/news-releases/uranium-energy-corp-intersects-6-28-eu3o8-over-2-9-metres-in-a-25-metre-step-out-from-the-roughrider-east-zone-deposit-302048776.html
Uranium Energy Corp 31 Jan, 2024, 06:30 ET
NYSE American: UEC
Metallurgical drill hole intersects 3.16% eU3O8 over 43.4 metres
with sub-intervals that grade 4.05% eU3O8 over 12.6 metres and 3.81% eU3O8 over 21.6 metres
CORPUS CHRISTI, Texas, Jan. 31, 2024 /PRNewswire/ - Uranium Energy Corp (NYSE American: UEC)
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