Bedford Metals Deploys Field Crew to Ubiquity Lake Uranium Project
06 August 2024 - 4:00PM
UK Regulatory
Bedford Metals Deploys Field Crew to Ubiquity Lake Uranium Project
VANCOUVER, British Columbia, Aug. 06, 2024
(GLOBE NEWSWIRE) -- Bedford Metals Corp. (TSX-V: BFM, FWB: O8D,
ISIN: CA0762301012) (the “Company” or “Bedford”) is pleased to
announce the deployment of its field crew to the Ubiquity Lake
Uranium Project in Northern Saskatchewan. Prospecting will be
focused on mapping historic showings, as well as high-value target
zones identified through historic prospecting and geophysical
programs. As part of the survey, the entire claim block will be
surveyed with state-of-the-art RS100 scintillometers to establish a
baseline and to investigate radioactive target zones.
Specifically, the Company will be targeting
UL2014, where a 2014 prospecting and grab rock sampling program
yielded values of 187 ppm U and 449 ppm Th from pegmatitic
quartz-rich zones in a granite gneiss outcrop, and 678 ppm U and
679 ppm Th from a quartz-rich pegmatitic granitic gneiss boulder.
In addition, the field crew will prospect Target Zones 1 and 2 (T1
and T2), high-priority anomalies identified through an
interpretation of geophysical datasets by Condor Consulting of
Lakewood, Colorado.
Peter Born, President of Bedford, commented, “We
are excited to commence our 2024 inaugural prospecting program at
Ubiquity Lake. The historic data combined with our recent
geophysical interpretations suggest significant potential for
uranium mineralization. With the necessary permits now in hand, our
field team is eager to validate these targets and advance our
understanding of the project's geology.”
Background:
The principal target zones at the Ubiquity Lake
Uranium Project are northwest-trending subsurface conductive
anomalies identified through a 2014 VTEM survey completed by Noka
Resources Inc. and Alpha Exploration Inc. Additionally, the Company
will be exploring conductive anomalies identified through a 2007
GEOTEM survey completed by Stikine Gold Corporation. A ground
survey conducted in 2014 yielded numerous radioactive samples, with
readings up to 2000 cps.
In 2014, a helicopter-borne EM and magnetic
survey carried out by Aeroquest and Condor Consulting Inc.
identified 13 target zones needing follow-up exploration in the
field. The target model is structurally controlled conductive
graphitic zones within the basement rocks that could potentially
host uranium deposits. The predicted depth to the basement is less
than 50 m, which was consistently achieved throughout the survey
area. The Company will be investigating areas with
electromagnetic-magnetic targets and areas with anomalous uranium
in surface outcrops.
Given the project’s proximity to the southern
lip of the Athabasca Basin, the Company is pursuing an exploration
model similar to Fission’s Patterson Lake South Deposit and
NexGen’s Arrow Deposit, which are shear-hosted basement deposits
with continuity at depth.
Bedford remains committed to conducting all
exploration activities with a focus on environmental
responsibility. The Company prioritizes minimizing its
environmental footprint and ensuring that all operations are
sustainable and responsible. Additionally, Bedford values its
relationships with local communities and indigenous groups and is
committed to working collaboratively with these stakeholders to
ensure that its activities bring positive benefits to the
region.
Dr. Peter Born, P.Geo., is the designated
qualified person as defined by National Instrument 43-101 and the
President of the Company and is responsible for and has approved
the technical information contained in this release.
About Bedford Metals Corp.
Bedford Metals Corp. is a mineral exploration
company. We create value for our shareholders by identifying and
developing highly prospective mineral exploration opportunities.
Our strategy is to advance our projects from discovery to
production.
The Close Lake Uranium Project
lies on the eastern side of the Athabasca Basin, adjoining claims
held by Cameco Corporation, the largest uranium producer in the
world. The claim is approximately 245 hectares and lies within the
primary exploration corridor, which hosts the Keys Lake Mine, the
Cigar Lake Mine and the McArthur River Mine. Access to the property
is done through a network of roads and trails.
The Ubiquity Lake Uranium
Project, covering 1382 hectares, lies just south of the
bottom lip of the Athabasca Basin, adjacent to ALX Uranium’s
Carpenter Lake Project to the east. Situated near the Cable Bay
Shear Zone, parallel to the Virgin River Shear Zone, which hosts
Cameco’s Centennial uranium deposit, the project holds immense
potential. Furthermore, it is located 100 km west of Cameco’s
past-producing Key Lake uranium mine, underscoring the strategic
significance of its location.
The Sheppard Lake Uranium
Project, covers an area of approximately 2250 hectares and
adjoins the Ubiquity Lake Project to the southeast. The project
area is characterized by rocks of the Mudjatik domain, where
uranium mineralization is typically basement-hosted, situated
within shears or faults, and formed through hydrothermal
redistributions of dissolved metals and subsequent redox
reactions.
For further information, please contact the
Company at info@bedfordmetals.com or 604-622-1199 or visit the
Company’s website at www.bedfordmetals.com.
On behalf of the Board,
Bedford Metals Corp.
“Peter Born”
President
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
This news release may include forward-looking
statements that are subject to risks and uncertainties. All
statements within, other than statements of historical fact, are to
be considered forward looking. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in forward-looking statements. There can be
no assurances that such statements will prove accurate and,
therefore, readers are advised to rely on their own evaluation of
such uncertainties. We do not assume any obligation to update any
forward-looking statements except as required under the applicable
laws.
CONTACT:
MRKT360
INC
https://mrkt360.com
Alex
Zertuche
alexz@mrkt360.com
For E.S.T Office
Hours, Call 1 416-477-0587
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