SASKATOON, SK, Jan. 12,
2023 /CNW/ - IsoEnergy Ltd. ("IsoEnergy" or
the "Company") (TSXV: ISO) (OTCQX: ISENF) is pleased to
announce that exploration plans have been finalized for the winter
2023 season.
Highlights:
- Diamond drilling at Larocque East and Hawk totalling
6800m in 12 drill holes
- Ground geophysical surveys at Larocque East and Geiger
Tim Gabruch, President and Chief
Executive Officer commented: "This winter, IsoEnergy will continue
to explore its diverse portfolio of prospective projects. The team
is mobilizing now, and diamond drilling at Larocque East will
follow-up on the encouraging basement alteration zone intersected
in the summer of 2022. IsoEnergy will also complete its first drill
program at the Hawk Project, which covers 10 km of a highly
underexplored conductive trend in the infrastructure-rich eastern
Athabasca Basin. Geophysical
programs at Larocque East and Geiger will generate and refine drill
targets, ensuring a steady stream of exploration for several
seasons to come. Having recently completed our $18.3 million financing in December, IsoEnergy is
well positioned to undertake this exciting exploration program and
development work at a time when the nuclear industry and the
uranium sector in particular looks incredibly strong as we move
into 2023 and beyond."
Larocque East Project
Six diamond drill holes totalling 2000
m are planned at Larocque East to follow up favourable
results on the eastern Kernaghan Trend. The 3.5 km of this
conductive trend covered by the Larocque East project has only been
drilled on a single fence, where historical drilling intersected
anomalous uranium geochemistry and chlorite in the lower sandstone
and defined over 40 m of unconformity
relief on section. Following up the historical results, IsoEnergy's
summer 2022 drill hole LE22-144 intersected a broad zone of illitic
and hematitic alteration associated with a basement-hosted
structure. The structure and alteration are located in the
265 m gap between the historical
drill holes. Winter 2023 drilling is planned as a series of
systematic step outs along strike of LE22-144 to evaluate the
extent of the alteration zone and test for the presence of
mineralization. Figure 2 shows the planned drill hole
locations.
Two lines of ground electromagnetic (EM) surveying are planned
along the approximately 15 km long interpreted western extension of
the Kernaghan Trend. This work will generate drill targets for
first-pass evaluation of this undrilled portion of the Kernaghan
Trend. Figure 2 shows the survey line locations.
Hawk Project Diamond
Drilling
Six diamond drill holes, totalling 4800
m, are planned at IsoEnergy's Hawk project during the winter
2023 season. Drilling will follow-up results from the 2022 EM
survey which identified multiple moderate to strong basement
conductors in each of the three surveyed areas. Winter 2023
drilling will consist of
first-pass testing of each area to assess for the presence of
significant alteration, structure, and geochemistry. Figure 3 shows
the planned drill hole locations.
Hawk is interpreted to cover at least 10 km of prospective
conductive strike with depths to the unconformity interpreted to be
between 600 and 750 metres. The single historical drill hole
completed within the project, OR11-06, failed to intersect
conductive basement; therefore, the prospective stratigraphy is
considered to remain untested. Relogging of OR11-06 in 2022 by
IsoEnergy identified pervasively bleached and locally desilicified
lower sandstones above pervasively sericitized basement, which is
suggestive of hydrothermal alteration in the vicinity.
Geiger Project
Geophysics
A ground EM survey is planned at Geiger to follow-up a trend of
anomalous drilling results and generate additional drill targets
along strike of weak historical mineralization. IsoEnergy's summer
2022 drill hole GG22-31 intersected a zone of pervasive argillic
alteration extending 55 metres into the basement associated with
graphitic gneisses. Located 1.7 km along strike to the north of
GG22-31, historical drill hole Q23-003 intersected a zone of
basement alteration similar to that in GG22-31. A further 2.8 km
north, Fission 3.0 Corp.'s drill hole ML22-006 is reported to have
intersected basement-hosted radioactivity associated with graphitic
fault structures. These anomalous results are interpreted to occur
along a 4.5 km long trend of which 3.4 km lies within the Geiger
project. Importantly, only GG22-31 and ML22-006 are interpreted to
have intersected the targeted conductors, leaving the remainder of
this trend inadequately tested.
A ground EM survey is also planned north of historical drill
hole Q24-001 which intersected 0.11% U3O8
over 0.3 m (259.6 – 259.9m) at the unconformity within an alteration
zone spanning the unconformity. Q24-001 was followed up on section
and along strike to the south but remains open to the north.
Figure 4 shows the planned Geiger survey areas.
Qualified Person
Statement
David Thomas, P.Geo., IsoEnergy's
Technical Advisor, is the "Qualified Person" (as defined in NI
43-101 – Standards of Disclosure for Mineral
Projects) for the Company and has validated and approved the
technical and scientific content of this news release. All 'GG' and
'LE' series drill holes were completed by IsoEnergy, and
geochemical analyses were completed for the Company by SRC
Geoanalytical Laboratories in Saskatoon,
Saskatchewan. All other drill holes were completed by
previous operators and geochemical assay data has been compiled
from historical assessment reports or provided by the previous
operator(s).
For additional information regarding the Company's Larocque East
Project, including its quality assurance and quality control
procedures applied to the exploration work described in this news
release, please see the Technical Report titled "Technical Report
on the Larocque East Project, Northern
Saskatchewan, Canada" dated August 4,
2022, on the Company's profile at www.sedar.com.This news
release refers to properties other than those in which the Company
has an interest. Mineralization on those other properties is not
necessarily indicative of mineralization on the Company's
properties.
www.isoenergy.ca
About IsoEnergy
IsoEnergy is a well-funded uranium exploration and development
company with a portfolio of prospective projects in the
infrastructure-rich eastern Athabasca Basin in Saskatchewan, Canada. In 2018, the Company
discovered the high-grade Hurricane Deposit on its 100% owned
Larocque East property in the Eastern
Athabasca Basin. The Hurricane Deposit has Indicated Mineral
Resources of 48.61 Million lb U3O8 based on
63,800 tonnes grading 34.5% U3O8 and Inferred
Mineral Resources of 2.66 Million lb U3O8
based on 54,300 tonnes grading 2.2% U3O8
(July 8, 2022). The Hurricane Deposit
is 100% owned by IsoEnergy and is unencumbered from any royalties.
IsoEnergy is led by a Board and Management team with a track record
of success in uranium exploration, development, and operations. The
Company was founded and is supported by the team at its major
shareholder, NexGen Energy Ltd.
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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 shall not constitute an offer to sell or a
solicitation of any offer to buy any securities, nor shall there be
any sale of any securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The securities referenced
herein have not been, nor will they be, registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities
Act"), and such securities may not be offered or sold within
the United States absent
registration under the U.S. Securities Act or an applicable
exemption from the registration requirements thereunder.
Forward-Looking
Information
The information contained herein contains "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 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 the activities, events or
developments that the Company expects or anticipates will or may
occur in the future, including, without limitation, planned
exploration activities. Generally, but not always, forward-looking
information and statements can be identified by the use of words
such as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "believes"
or the negative connotation thereof or variations of such words and
phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved" or the negative connotation thereof.
Such forward-looking information and statements are based on
numerous assumptions, including among others, that the results of
planned exploration activities are as anticipated, the price of
uranium, the anticipated cost of planned exploration activities,
that general business and economic conditions will not change in a
material adverse manner, that financing will be available if and
when needed and on reasonable terms, that third party contractors,
equipment and supplies and governmental and other approvals
required to conduct the Company's planned exploration activities
will be available on reasonable terms and in a timely manner.
Although the assumptions made by the Company in providing
forward-looking information or making forward-looking statements
are considered reasonable by management at the time, there can be
no assurance that such assumptions will prove to be
accurate.
Forward-looking information and statements also involve known
and unknown risks and uncertainties and other factors, which may
cause actual events or results in future periods to differ
materially from any projections of future events or results
expressed or implied by such forward-looking information or
statements, including, among others: negative operating cash flow
and dependence on third party financing, uncertainty of additional
financing, no known mineral reserves or resources, the limited
operating history of the Company, the influence of a large
shareholder, alternative sources of energy and uranium
prices, aboriginal title and consultation issues, reliance on key
management and other personnel, actual results of exploration
activities being different than anticipated, changes in exploration
programs based upon results, availability of third party
contractors, availability of equipment and supplies, failure of
equipment to operate as anticipated; accidents, effects of weather
and other natural phenomena and other risks associated with the
mineral exploration industry, environmental risks, changes in laws
and regulations, community relations and delays in obtaining
governmental or other approvals.
Although the Company has attempted to identify important
factors that could cause actual results to differ materially from
those contained in the forward-looking information or implied by
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that forward-looking information and statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on
forward-looking statements or information. The Company
undertakes no obligation to update or reissue forward-looking
information as a result of new information or events except as
required by applicable securities laws.
SOURCE IsoEnergy Ltd.