Carmanah Minerals Corp. has announced a two (2) for one (1) stock split of its issued and outstanding common shares. Each shareholder of record as of the close of business on the record date will receive one (1) additional share for each share held on such date.
Trading will commence on an ex-distribution basis on May 7, 2024.
Upon completion of the split, there will be approximately 46,416,770 shares issued and outstanding.
All open orders will be purged from the book at the market close on May 6, 2024. Dealers are reminded to re-enter their orders.
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Carmanah Minerals Corp. a annoncé un fractionnement d'actions de deux (2) pour une (1) de ses actions ordinaires émises et en circulation. Chaque actionnaire inscrit à la fermeture des bureaux à la date d'enregistrement recevra une (1) action supplémentaire pour chaque action détenue à cette date.
La négociation débutera sur une base ex-distribution le 7 mai 2024.
Une fois le fractionnement réalisé, environ 46 416 770 actions seront émises et en circulation.
Toutes les commandes ouvertes seront supprimées du registre à la clôture du marché le 6 mai 2024. Il est rappelé aux concessionnaires de saisir à nouveau leurs commandes.
| Trading on a Split Basis/Négociation sur une base divisé : | Le 7 mai/May 2024 |
| Record Date/Date d'enregistrement : | Le 8 mai/May 2024 |
| CUSIP & ISIN : | 14317M100/CA14317M1005 |
If you have any questions or require further information please contact Listings at (416) 367-7340 or E-mail: Listings@thecse.com.
Pour toute question, pour obtenir de l'information supplémentaire veuillez communiquer avec le service des inscriptions au 416 367-7340 ou par courriel à l'adresse: Listings@thecse.com.
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Carmanah Minerals Corp. (CSE:CARM), ("Carmanah" or the "Company") wishes to announce the record date for the Company's two for one (2:1) stock split of its common shares (the "Stock Split") previously announced on November 9, 2023
The record date of the Stock Split has been fixed on May 8, 2024. (the "Record Date"). The Stock Split is conducted on a "push-out basis," with each shareholder of record of the Company as of the close of business on the Record Date receiving one (1) additional common share for each common share held on such date from the Company's transfer agent, Odyssey Trust Company. Shareholders of the Company do not need to take any action with respect to the Stock Split and there is no change to the CUSIP/ISIN number for the Company's common shares in connection with the Stock Split.
Following completion of the Stock Split, the Company will have approximately 46,416,770 common shares outstanding. The common shares will begin trading on a post-Stock Split basis under the existing stock ticker symbol effective at the opening of markets on May 7, 2024.
Outstanding stock options and share purchase warrants will also be adjusted by the Stock Split ratio and the respective exercise prices of outstanding stock options and share purchase warrants will be adjusted accordingly.
For further information, please view the Company's filings at www.sedarplus.ca.
ON BEHALF OF THE BOARD
Fraser Rieche
Chief Executive Officer, Director
Email:info@carmanahcorp.ca
Telephone: +1 (604) 716-1036
Disclaimer for Forward-Looking Information:
This news release includes certain forward‐looking statements and forward‐looking information (collectively, "forward‐looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward‐looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward‐looking statements in this news release, the Company has applied several material assumptions. Readers are cautioned not to place undue reliance on forward‐looking statements. The Company undertakes no obligation to update any of the forward‐looking statements in this news release except as otherwise required by law.
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.
SOURCE:Carmanah Minerals Corp.
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February 8, 2024 TheNewswire - Vancouver, B.C. Carmanah Minerals Corp. (CSE:CARM), ( "Carmanah " or the "Company" ) is pleased to announce the appointment of Wall Street Veteran Michael Moen to the Company's board of Directors effective February 5, 2024. With over two decades of experience in financial markets and investment strategies, Moen brings a wealth of expertise to the Company's leadership team with a focus on natural resources.
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November 09, 2023 TheNewswire - Vancouver, B.C. Carmanah Minerals Corp. (CSE:CARM), ( "Carmanah " or the "Company" ) announces that it intends to forward split its common shares ("Common Shares") on the basis of two (2) new Common shares for each one (1) Common Share currently outstanding (the "Share Split"). Each shareholder of record of the Company as of the close of business on the record date will receive one (1) additional share for each share held on such date.
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August 22, 2023 TheNewswire - Vancouver, B.C. Carmanah Minerals Corp. (CSE:CARM), ( "Carmanah " or the "Company" ) is pleased to announce the commencement of a detailed regional and property specific structural geophysical interpretation of the corporation's Saskatchewan Uranium Project with its Joint Venture partner Marvel Discovery. The Interpretation includes using advanced technology leveraging machine learning to transform the mineral discovery process.
Fraser Rieche, Interim Chief Executive Officer, commented, "Carmanah's Walker Project presents a tremendous opportunity in Canada's Athabasca Basin. The project is perfectly situated along the Key Lake fault and is home to some of the largest Uranium Reserves in Canada. Using AI-drill-targeting allows us to get a better in-depth understanding of the structural traps which is vital to our drill-target selection process. We are pleased to be working with Marvel Discovery and their geological team, giving us an edge and a better chance for success with the common goal of a tier 1 discovery."
The claims coincide with a regional-scale NNE-trending shear zone that forms the tectonic boundary between the Mudjatik Domain and Wollaston Domain of the Hearne Province. The shear zone can be mapped from regional aeromagnetic images and has a strike length of at least 400 kilometres extending beneath cover rocks of the Athabasca Basin, approximately 60 km to the north. The highly prospective Athabasca Basin is home to numerous unconformity-type uranium deposits whose locations are controlled by the positions of major faults in the underlying crystalline basement rocks.
The pattern of structures within the claims, indicate that the two major rock groups are intensely polydeformed with complex fold interference patterns suggesting a regional east-dipping, sinistral transpressional belt that is now preserved as the Wollaston-Mudjatik Transition Zone (WMTZ), a prospective zone, along which the majority of known Uranium and REE occurrences are documented.
Like its neighbor to the west, the Arrow deposit, owned by NexGen Energy, lies along a similar structural corridor as the Carmanah property. The Arrow deposit, which has undergone a positive feasibility study with robust economics, contains probable reserves of 239.6 million pounds of U3O8 at an average of 2.37 per cent U3O8, and measured and indicated resources of 256.7 million pounds at an average grade of 3.1 per cent U3O8. The Arrow deposit is the largest undeveloped uranium deposit in Canada of 256.7 million lb at an average grade of 3.1 per cent U3O8. The Arrow deposit is the largest undeveloped uranium deposit in Canada.
Carmanah signed a joint venture agreement with Marvel Discovery on October 5, 2022, to earn a 50-per-cent interest in the Walker claims located in the Athabasca basin, Saskatchewan. Upon completion of the earn-in by Carmanah, Marvel and Carmanah would each own 50 per cent of the project.
Click Image To View Full Size
Figure 1.
Location of Walker JV, the Highway North and KLR claim groups along the Key Lake Fault with prominent VTEM conductor trends.
Qualified Person
Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.
About Carmanah Minerals Corp.
Carmanah Minerals Corp. is a Canadian junior exploration company focused on a diversified portfolio covering Precious Metals, Energy, and Critical Elements. The Company recently signed a Joint Venture agreement with Marvel Discovery Corp. to earn a 50% interest in the Walker Claims located along the prolific Key Lake fault adjacent to Cameco's Mine and Mill in the Athabasca Basin, Saskatchewan. The Walker Properties lie within the Wollaston‐Mudjactic transition zone (WMTZ) of the eastern Athabasca basin, which is host to the highest‐grade uranium mines in the world. The company also holds a 100% interest in the Hare Hill Pluton Rare Earth Project. This project comprises 162 claims totaling 4,050 hectares in Central Newfoundland and is directly contiguous to the "Bottom Brook Acquisition" by York Harbour Metals Inc. Carmanah has also entered an option agreement to acquire the Baie Verte Brompton Project in Central Newfoundland. This project is strategically located on a peninsula that hosts all of Newfoundland's current gold production, including Anaconda Mining Inc.'s Point Rousse gold mine and Rambler Metals Mining operations.
For further information, please view the Company's filings at www.sedar.com .
ON BEHALF OF THE BOARD
Chief Executive Officer and Director
Disclaimer for Forward-Looking Information:
This news release includes certain forward‐looking statements and forward‐looking information (collectively, "forward‐looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, anticipated content, commencement, and cost of exploration programs in respect of the Company's projects and mineral properties, anticipated exploration program results from exploration activities, resources and/or reserves on the Company's projects and mineral properties, the anticipated business plans and timing of future activities of the Company, anticipated completion of the Private Placements, including the approval of the Canadian Securities Exchange for the Private Placements, are forward‐looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward‐looking statements in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will result in sustained precious and base metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration of the Company's properties, that the COVID19 global pandemic will not affect the ability of the Company to conduct the exploration program on its mineral properties, the availability of financing on suitable terms, and the Company's ability to comply with environmental, health and safety laws.
Forward‐looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward‐looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company's proposed expenditures for exploration work on its mineral projects, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, risks relating to epidemics or pandemics such as COVID–19, as well as those factors discussed under the heading "Risk Factors" in the Company's prospectus dated April 4, 2022, and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward‐looking statements. The Company undertakes no obligation to update any of the forward‐looking statements in this news release except as otherwise required by law.
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.
Copyright (c) 2023 TheNewswire - All rights reserved.
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IsoEnergy Ltd. (TSX: ISO) (OTCQX: ISENF) ("IsoEnergy") and Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint") are pleased to announce that they have entered into a contribution agreement in connection with the creation of a joint venture (the "Joint Venture") for the exploration and development of a portfolio of uranium properties in northern Saskatchewan's Athabasca Basin. Both companies will contribute assets from their respective portfolios to the Joint Venture, which will consist of 10 projects covering more than 98,000 hectares in the east side of the Athabasca Basin and will leverage their respective expertise to capitalize on the significant potential of these properties.
Transaction Highlights
Philip Williams, CEO and Director of IsoEnergy, commented: "We are excited to announce formation of this Joint Venture with Purepoint and see many advantages for both companies. Together, the Joint Venture projects consolidate a large land position immediately to the east of the Larocque East project, which includes several kilometres of the highly prospective Larocque trend. Purepoint has proven itself an exceedingly capable operator and the Joint Venture will allow us to have several of our highly prospective projects advanced, while remaining focused on dual priorities of exploring and advancing the Larocque East project, host to the high-grade Hurricane Deposit, and restarting our past producing uranium mines in Utah. By combining our complementary project portfolios and leveraging our collective expertise, we believe we are well-positioned to accelerate discoveries and create value for our shareholders."
Chris Frostad, President and CEO of Purepoint, added: "With this Joint Venture, the majority of Purepoint's most significant projects are now being advanced within partnerships alongside some of the uranium sector's strongest players. This collaboration underscores the confidence our partners, including Cameco, Orano, Foran Mining and now IsoEnergy, have in the potential of these projects, and it further solidifies Purepoint's position at the forefront of uranium exploration in the Athabasca Basin. By combining forces and pooling resources, we are accelerating exploration efforts and setting the stage for potential large-scale discoveries that can meet the growing demand for clean energy. We look forward to leveraging the technical and financial strengths of our partners as we continue to operate these district-scale projects and drive them towards success."
Figure 1: Joint Venture Portfolio, including 10 Projects Covering More Than 98,000 Hectares in the Athabasca Basin.
Figure 2: Complementary and Prospective Ground Covering the Larocque Trend with Strong Discovery Potential
Joint Venture Terms
The Joint Venture will be governed by a formal joint venture agreement to be entered into between the companies concurrently with the effective formation of the Joint Venture. Under the agreement:
Purepoint Share Consolidation and Concurrent Financing
In connection with the transaction, Purepoint will consolidate its shares on a 10:1 basis (the "Consolidation"). Purepoint currently has 500,772,765 common shares issued and outstanding. After giving effect to the Consolidation, Purepoint will have approximately 50,077,277 issued and outstanding post-consolidation common shares. The Consolidation has been approved by the Purepoint Board of Directors and was approved by Purepoint's shareholders at its Annual General and Special Meeting held on June 4, 2024. The Consolidation remains subject to approval by the TSX Venture Exchange (the "TSXV").
In conjunction with the Consolidation, Purepoint plans to complete a non-brokered private placement offering of up to 6,666,667 units at a price of $0.30 per unit, for gross proceeds of up to $2,000,000 (the "Concurrent Financing"). Each unit will consist of one post-Consolidation share and one warrant exercisable at $0.40 to acquire one post-Consolidation share for a period of three years. IsoEnergy will subscribe for $1.0 million of this financing, underscoring its commitment to the Joint Venture's exploration plans. IsoEnergy will be granted the right, for so long as it owns at least 10% of the post-Consolidation shares of Purepoint (on a partially diluted basis), to participate in any future equity financing of Purepoint in order to maintain its pro rata interest in Purepoint. The net proceeds of the Concurrent Financing will be used by Purepoint for general working capital purposes
The transactions, including the formation of the Joint Venture, the Consolidation, and Concurrent Financing (together the "Transactions"), remains subject to approval by the TSXV. The Joint Venture will take effect following the satisfaction of certain conditions, including but not limited to the completion of the Consolidation, closing of the Concurrent Financing, and receipt of all necessary regulatory approvals, including approval of the TSXV.
About IsoEnergy Ltd.
IsoEnergy is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of Canada, the U.S. and Australia at varying stages of development, providing near-, medium- and long-term leverage to rising uranium prices. IsoEnergy is currently advancing its Larocque East project in Canada's Athabasca basin, which is home to the Hurricane deposit, boasting the world's highest-grade indicated uranium mineral resource.
IsoEnergy also holds a portfolio of permitted past-producing, conventional uranium and vanadium mines in Utah with a toll milling arrangement in place with Energy Fuels. These mines are currently on standby, ready for rapid restart as market conditions permit, positioning IsoEnergy as a near-term uranium producer.
About Purepoint Uranium Group Inc.
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) is a focused explorer with a dynamic portfolio of advanced projects within the renowned Athabasca Basin in Canada. The most prospective projects are actively operated on behalf of partnerships with industry leaders including Cameco Corporation, Orano Canada Inc. and IsoEnergy Ltd.
Additionally, the Company holds a promising VHMS project currently optioned to and strategically positioned adjacent to and on trend with Foran Corporation's McIlvena Bay project. Through a robust and proactive exploration strategy, Purepoint is solidifying its position as a leading explorer in one of the globe's most significant uranium districts.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.
Disclosure regarding forward-looking statements
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". This forward-looking information may relate to the Transactions, including statements with respect to the completion of the Transactions; the anticipated benefits of the Joint Venture to the parties and their respective shareholders; the expected receipt of regulatory and other approvals relating to the Transactions; the expected ownership interests of and Purepoint in the Joint Venture; the prospects of each company's respective projects, including mineralization of each project; the potential for, success of and anticipated timing of commencement of future exploration and development of the Joint Venture projects; the expected gross proceeds of the Concurrent Financing and the anticipated use thereof; and any other activities, events or developments that the companies expect or anticipate will or may occur in the future.
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 that IsoEnergy and Purepoint will complete the Transactions in accordance with the terms and conditions of the relevant agreements; that the parties will receive the required regulatory approvals and will satisfy, in a timely manner, the other conditions to completion of the Transactions; the accuracy of management's assessment of the effects of the successful completion of the Joint Venture and that the anticipated benefits of the Joint Venture will be realized; the anticipated mineralization of IsoEnergy's and Purepoint's projects being consistent with expectations and the potential benefits from such projects and any upside from such projects; the price of uranium; that general business and economic conditions will not change in a materially adverse manner; that financing will be available if and when needed and on reasonable terms; and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Joint Venture's planned activities will be available on reasonable terms and in a timely manner. Although each of IsoEnergy and Purepoint 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 IsoEnergy and Purepoint with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by IsoEnergy and Purepoint, 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: the inability of IsoEnergy and Purepoint to complete the Transactions; a material adverse change in the timing of and the terms and conditions upon which the Transactions are completed; the inability to satisfy or waive all conditions to completion of the Transactions; the failure to obtain regulatory approvals in connection with the Transactions; the inability of the Joint Venture to realize the benefits anticipated from the Joint Venture and the timing to realize such benefits; changes to IsoEnergy's and/or Purepoint's current and future business plans and the strategic alternatives available thereto; growth prospects and outlook of Purepoint's business; regulatory determinations and delays; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions in Canada, the United States and other jurisdictions where the applicable party conducts business. Other factors which could materially affect such forward-looking information are described in the risk factors in each of IsoEnergy's and Purepoint's most recent annual management's discussion and analyses or annual information forms and IsoEnergy's and Purepoint's other filings with the Canadian securities regulators which are available, respectively, on each company's profile on SEDAR+ at www.sedarplus.ca. IsoEnergy and Purepoint do not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Laramide Resources Ltd. ( "Laramide" or the "Company" ) (TSX: LAM; ASX: LAM; OTCQX: LMRXF), a uranium mine development and exploration company with globally significant assets in the United States and Australia is pleased to announce more assay results from the 2024 drilling activities at the Westmoreland Uranium Project in Queensland, Australia ( "Westmoreland" ).
Assays have now been received from the remaining 32 RC drill holes at Long Pocket, with 29 of these holes mineralized. (Table 2) Long Pocket drilling has demonstrated that uranium mineralisation is laterally continuous with drillhole collar spacing now generally less than 50m which lends to a high level of confidence. Mineralisation remains open and untested in a southerly direction (Figure 2).
Zones of higher-grade uranium intercepted within the broader coherent mineralised envelope include:
Commenting on the results, Laramide's Vice-President of Exploration, Rhys Davies said:
"Results from infill drilling at Long Pocket demonstrate the quality of this satellite deposit with good uranium grade at very shallow depths and supports Laramide's focused attention on enhancing Westmoreland's resources towards improving the economics of a future mine plan. The deposit also remains open and untested to the south.
"We look forward to updating investors as we incorporate these results into a Maiden Resource Estimation of the deposit in Q1 2025."
Drilling across the broader Westmoreland Project is ongoing with the final few holes of the campaign due to be completed in the next two weeks. The 2024 drilling campaign has comprised over 100 holes across multiple targets, core processing is continuing, and assay results will be delivered with regularity throughout Q4 2024.
Long Pocket Uranium Deposit
Long Pocket is a satellite deposit located 7 km to the east of the Westmoreland Project. Thirty-eight infill RC drill holes, for a total of 2,139m , were recently completed in 2024.
Results from the 2024 drilling confirms shallow ( 50m depth), flat-lying, continuous mineralisation (Figure 1) with multiple zones intersecting a similar highly altered hematitic sandstone of medium to coarsely grained and poorly sorted texture, located peripheral to a dyke/sill margin.
The central part of this deposit is now well understood with hole spacing now less than 50m in places. Results from this drilling program will be incorporated into a Maiden Resource Estimation of the deposit in Q1 2025.
Qualified/Competent Person
The information in this announcement relating to Exploration Results is based on information compiled or reviewed by Mr. Rhys Davies , a contractor to the Company. Mr. Davies is a Member of The Australasian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves', and is a "Qualified Person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Davies consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.
To learn more about Laramide, please visit the Company's website at www.laramide.com .
Follow us on Twitter @LaramideRes
About Laramide Resources Ltd.
Laramide is focused on exploring and developing high-quality uranium assets in Tier-1 uranium jurisdictions of Australia and United States . The company's portfolio comprises predominantly advanced uranium projects in districts with historical production or superior geological prospectivity. The assets have been carefully chosen for their size, production potential, and the two large projects are considered to be late-stage, low-technical risk projects.
Forward-looking Statements and Cautionary Language
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions. Actual results or developments may differ materially from those in forward-looking statements. Laramide disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
Since forward-looking 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. These include, but are not limited to, exploration and production for uranium; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of resource estimates; health, safety and environmental risks; worldwide demand for uranium; uranium price and other commodity price and exchange rate fluctuations; environmental risks; competition; incorrect assessment of the value of acquisitions; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws, royalties and environmental regulations.
Table 1: Drill Collar Details | ||||||||||
Prospect | Hole ID | GDA_Easting | GDA_Northing | RL (m) | Depth (m) | Grid Azi | Dip | Hole type | Drilling started | Drilling completed |
AMPHITHEATRE | AMD008 | 209879 | 8074908 | 93 | 241.6 | 90 | -60 | DD | 01/07/2024 | 09/07/2024 |
AMPHITHEATRE | AMD009 | 209928 | 8074816 | 90 | 202.9 | 270 | -80 | DD | 10/07/2024 | 15/07/2024 |
AMPHITHEATRE | AMD010 | 209954 | 8074725 | 90 | 203.4 | 90 | -60 | DD | 15/07/2024 | 26/07/2024 |
AMPHITHEATRE | AMD011 | 209958 | 8074620 | 99 | 200.3 | 90 | -60 | DD | 26/07/2024 | 02/08/2024 |
AMPHITHEATRE | AMD012 | 209928 | 8074820 | 90 | 84.5 | 90 | -55 | DD | 03/08/2024 | 05/08/2024 |
LONGPOCKET | LP24RC001 | 204362 | 8065063 | 98 | 54 | 0 | -90 | RC | 01/08/2024 | 01/08/2024 |
LONGPOCKET | LP24RC002 | 204312 | 8065113 | 98 | 54 | 0 | -90 | RC | 02/08/2024 | 08/08/2024 |
LONGPOCKET | LP24RC003 | 204262 | 8065063 | 98 | 78 | 0 | -90 | RC | 03/08/2024 | 03/08/2024 |
LONGPOCKET | LP24RC004 | 204212 | 8065063 | 97 | 60 | 0 | -90 | RC | 03/08/2024 | 03/08/2024 |
LONGPOCKET | LP24RC005 | 204168 | 8065127 | 95 | 60 | 0 | -90 | RC | 03/08/2024 | 03/08/2024 |
LONGPOCKET | LP24RC006 | 204122 | 8065007 | 97 | 54 | 0 | -90 | RC | 04/08/2024 | 04/08/2024 |
LONGPOCKET | LP24RC007 | 204092 | 8064933 | 98 | 48 | 180 | -60 | RC | 04/08/2024 | 04/08/2024 |
LONGPOCKET | LP24RC008 | 204192 | 8064940 | 100 | 54 | 180 | -60 | RC | 04/08/2024 | 04/08/2024 |
LONGPOCKET | LP24RC009 | 204187 | 8065025 | 97 | 48 | 0 | -90 | RC | 04/08/2024 | 05/08/2024 |
LONGPOCKET | LP24RC010 | 204079 | 8065059 | 96 | 60 | 0 | -90 | RC | 05/08/2024 | 05/08/2024 |
LONGPOCKET | LP24RC011 | 204109 | 8065106 | 96 | 60 | 0 | -90 | RC | 05/08/2024 | 05/08/2024 |
LONGPOCKET | LP24RC012 | 204072 | 8065117 | 95 | 60 | 0 | -90 | RC | 05/08/2024 | 06/08/2024 |
LONGPOCKET | LP24RC013 | 204078 | 8065160 | 94 | 54 | 0 | -90 | RC | 06/08/2024 | 06/08/2024 |
LONGPOCKET | LP24RC014 | 203524 | 8065406 | 91 | 54 | 0 | -90 | RC | 06/08/2024 | 06/08/2024 |
LONGPOCKET | LP24RC015 | 203615 | 8065322 | 91 | 48 | 0 | -90 | RC | 07/08/2024 | 07/08/2024 |
LONGPOCKET | LP24RC016 | 203715 | 8065262 | 92 | 48 | 0 | -90 | RC | 07/08/2024 | 07/08/2024 |
LONGPOCKET | LP24RC017 | 203715 | 8065362 | 91 | 48 | 0 | -90 | RC | 07/08/2024 | 07/08/2024 |
LONGPOCKET | LP24RC018 | 203715 | 8065462 | 90 | 48 | 0 | -90 | RC | 08/08/2024 | 08/08/2024 |
LONGPOCKET | LP24RC019 | 203724 | 8065561 | 90 | 54 | 0 | -90 | RC | 08/08/2024 | 08/08/2024 |
LONGPOCKET | LP24RC020 | 203824 | 8065611 | 90 | 48 | 0 | -90 | RC | 08/08/2024 | 08/08/2024 |
LONGPOCKET | LP24RC021 | 203924 | 8065561 | 90 | 48 | 0 | -90 | RC | 08/08/2024 | 08/08/2024 |
LONGPOCKET | LP24RC022 | 203915 | 8065462 | 90 | 48 | 0 | -90 | RC | 09/08/2024 | 09/08/2024 |
LONGPOCKET | LP24RC023 | 203915 | 8065362 | 91 | 48 | 0 | -90 | RC | 09/08/2024 | 09/08/2024 |
LONGPOCKET | LP24RC024 | 203930 | 8065255 | 92 | 48 | 0 | -90 | RC | 09/08/2024 | 09/08/2024 |
LONGPOCKET | LP24RC025 | 203999 | 8065213 | 93 | 98 | 0 | -90 | RC | 09/08/2024 | 10/08/2024 |
LONGPOCKET | LP24RC026 | 204086 | 8065313 | 92 | 60 | 0 | -90 | RC | 10/08/2024 | 10/08/2024 |
LONGPOCKET | LP24RC027 | 204027 | 8065110 | 95 | 60 | 0 | -90 | RC | 11/08/2024 | 11/08/2024 |
LONGPOCKET | LP24RC028 | 203958 | 8065116 | 95 | 60 | 0 | -90 | RC | 11/08/2024 | 11/08/2024 |
LONGPOCKET | LP24RC029 | 203881 | 8065146 | 94 | 60 | 0 | -90 | RC | 11/08/2024 | 11/08/2024 |
LONGPOCKET | LP24RC030 | 203977 | 8065042 | 96 | 84 | 0 | -90 | RC | 11/08/2024 | 12/08/2024 |
LONGPOCKET | LP24RC031 | 203933 | 8065019 | 96 | 48 | 0 | -90 | RC | 12/08/2024 | 12/08/2024 |
LONGPOCKET | LP24RC032 | 203986 | 8064911 | 98 | 48 | 0 | -90 | RC | 12/08/2024 | 12/08/2024 |
LONGPOCKET | LP24RC033 | 203889 | 8064909 | 97 | 48 | 0 | -90 | RC | 13/08/2024 | 13/08/2024 |
LONGPOCKET | LP24RC034 | 204331 | 8064746 | 107 | 48 | 0 | -90 | RC | 13/08/2024 | 13/08/2024 |
LONGPOCKET | LP24RC035 | 204134 | 8064653 | 108 | 54 | 0 | -90 | RC | 15/08/2024 | 15/08/2024 |
LONGPOCKET | LP24RC036 | 204121 | 8064795 | 105 | 55 | 0 | -90 | RC | 15/08/2024 | 15/08/2024 |
LONGPOCKET | LP24RC037 | 204001 | 8064732 | 101 | 66 | 0 | -60 | RC | 15/08/2024 | 16/08/2024 |
LONGPOCKET | LP24RC038 | 203843 | 8064732 | 100 | 66 | 30 | -60 | RC | 16/08/2024 | 16/08/2024 |
Table 2: Significant intercepts >100ppm U 3 O 8 | |||||
Hole number | From | To | Length (m) | U 3 0 8 ppm | Au g/t |
LP24RC007 | 19 | 20 | 1 | 160.96 | 0.01 |
LP24RC007 | 33 | 35 | 2 | 157.42 | 0.06 |
LP24RC007 | 40 | 41 | 1 | 153.30 | 0.01 |
LP24RC008 | 16 | 32 | 16 | 485.61 | 0.011 |
including | 21 | 25 | 4 | 1264.40 | 0.005 |
LP24RC008 | 39 | 43 | 4 | 174.34 | 0.02 |
LP24RC009 | 16 | 24 | 8 | 490.59 | 0.006 |
including | 20 | 21 | 1 | 1544.75 | 0.005 |
LP24RC009 | 35 | 36 | 1 | 139.15 | 0.03 |
LP24RC010 | 28 | 33 | 5 | 297.04 | 0.006 |
LP24RC010 | 36 | 41 | 5 | 239.14 | 0.074 |
LP24RC011 | 7 | 17 | 10 | 152.95 | 0.006 |
LP24RC011 | 32 | 33 | 1 | 340.79 | 0.005 |
LP24RC011 | 36 | 41 | 5 | 362.65 | 0.022 |
LP24RC012 | 0 | 3 | 3 | 434.34 | 0.005 |
LP24RC012 | 13 | 16 | 3 | 138.63 | 0.007 |
LP24RC012 | 32 | 33 | 1 | 202.23 | 0.005 |
LP24RC012 | 37 | 41 | 4 | 185.67 | 0.013 |
LP24RC013 | 5 | 10 | 5 | 507.06 | 0.005 |
including | 5 | 6 | 1 | 1432.73 | 0.005 |
LP24RC013 | 40 | 42 | 2 | 231.12 | 0.085 |
LP24RC014 | 15 | 16 | 1 | 190.44 | 0.02 |
LP24RC015 | 9 | 11 | 2 | 118.80 | 0.005 |
LP24RC016 | 8 | 12 | 4 | 2022.03 | 0.005 |
including | 9 | 12 | 3 | 2639.44 | 0.005 |
LP24RC016 | 17 | 20 | 3 | 218.31 | 0.088 |
LP24RC017 | 12 | 18 | 6 | 241.62 | 0.007 |
LP24RC018 | 11 | 19 | 8 | 235.29 | 0.006 |
LP24RC019 | No Significant intercepts | ||||
LP24RC020 | No Significant intercepts | ||||
LP24RC021 | 24 | 25 | 1 | 488.19 | 0.01 |
LP24RC022 | 19 | 22 | 3 | 559.33 | 0.007 |
including | 19 | 20 | 1 | 1089.58 | 0.005 |
LP24RC023 | 19 | 23 | 4 | 437.31 | 0.031 |
including | 20 | 21 | 1 | 1041.23 | 0.01 |
LP24RC024 | 12 | 22 | 10 | 126.39 | 0.011 |
LP24RC025 | 11 | 13 | 2 | 194.57 | 0.005 |
LP24RC025 | 31 | 40 | 9 | 261.18 | 0.026 |
LP24RC026 | 25 | 27 | 2 | 346.68 | 0.08 |
LP24RC027 | 0 | 3 | 3 | 643.06 | 0.005 |
including | 0 | 1 | 1 | 1160.33 | 0.005 |
LP24RC027 | 9 | 10 | 1 | 165.68 | 0.005 |
LP24RC027 | 36 | 40 | 4 | 298.63 | 0.025 |
LP24RC028 | 34 | 42 | 8 | 238.94 | 0.018 |
including | 35 | 36 | 1 | 1106.09 | 0.01 |
LP24RC029 | 35 | 41 | 6 | 218.47 | 0.051 |
LP24RC030 | 20 | 23 | 3 | 108.29 | 0.007 |
LP24RC030 | 25 | 26 | 1 | 121.46 | 0.005 |
LP24RC030 | 32 | 40 | 8 | 269.46 | 0.027 |
LP24RC031 | 22 | 23 | 1 | 214.61 | 0.005 |
LP24RC031 | 27 | 36 | 9 | 212.75 | 0.014 |
LP24RC032 | 22 | 24 | 2 | 168.27 | 0.008 |
LP24RC032 | 27 | 32 | 5 | 212.99 | 0.012 |
LP24RC033 | 24 | 27 | 3 | 242.48 | 0.007 |
LP24RC033 | 31 | 32 | 1 | 255.89 | 0.01 |
LP24RC033 | 35 | 37 | 2 | 417.44 | 0.12 |
LP24RC034 | No Significant intercepts | ||||
LP24RC035 | 7 | 8 | 1 | 193.39 | 0.005 |
LP24RC035 | 13 | 14 | 1 | 278.29 | 0.005 |
LP24RC035 | 28 | 30 | 2 | 318.97 | 0.035 |
LP24RC036 | 34 | 39 | 5 | 280.13 | 0.036 |
LP24RC037 | 27 | 29 | 2 | 141.39 | 0.008 |
LP24RC037 | 34 | 39 | 5 | 372.16 | 0.036 |
LP24RC038 | 25 | 26 | 1 | 225.23 | 0.09 |
LP24RC038 | 31 | 36 | 5 | 297.28 | 0.03 |
* Included intercepts are above >1000 ppm U 3 O 8 | |||||
SOURCE Laramide Resources Ltd.
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Foremost Clean Energy Ltd. ( NASDAQ: FMST ) ( CSE: FAT ) (" Foremost " or the " Company ") an emerging North American uranium and lithium exploration company is pleased to announce positive preliminary results from an 889 metre, four-hole diamond drill program (the " 2024 Hatchet Drill Program " or " Drill Program ") that was recently completed at the Hatchet Lake Uranium Property (" Hatchet "), located in the prolific Athabasca Basin region of northern Saskatchewan. Highlights from preliminary results of the Drill Program include:
Denison Mines Corp. (TSX:DML, NYSE American: DNN) ("Denison"), managed the 2024 Hatchet Drill Program, which consisted of two holes (RL-24-29 and RL-24-30) within the Richardson claim block (" Richardson ") and two holes (TF-24-11 and TF-24-12) within the Hatchet South claim block at the Tuning Fork grid (" Tuning Fork "), as illustrated in Figure 1.
Jason Barnard President and CEO of Foremost, states " We are pleased to have hit the ground running on our new portfolio of Athabasca Basin uranium exploration properties. Hatchet is a highly prospective exploration property, and the preliminary results from the recently completed Drill Program have already generated compelling targets for follow-up. Exploring a property of Hatchet's caliber represents an exceptional opportunity for Foremost – with historical mineralization identified along the 5+km long Richardson trend and a multitude of varied exploration targets. Our accretive collaboration with Denison, now Foremost's largest shareholder, enabled this work to be completed as Foremost rapidly transitions to a uranium exploration focus. We look forward to working with Denison on this property and others within our portfolio to the mutual benefit of both of our shareholders."
Hatchet Lake Uranium Property
The Hatchet Lake Property is located within the northeast portion of the Athabasca Basin, where the sub-Athabasca unconformity ranges from zero to 250 metres. The unconformity represents the contact between underlying basement rocks and the Athabasca Sandstone structures, which is often a prime setting for uranium mineralization. Recent unconformity-related discoveries within the region include IsoEnergy's Hurricane Deposit* (Indicated Mineral Resources of 48.6 Mlbs U 3 O 8 from 63,800 tonnes at an average grade of 34.5% U 3 O 8 ) 1 , which is situated within the LaRocque Lake Conductive Corridor to the west of the Hatchet Lake Property.
* Mineralization on any other properties referred to herein is not necessarily indicative of mineralization on the Hatchet Lake Property.
Figure 1. Map of Hatchet Lake and Surrounding Area
Richardson Trend
Previous drill programs at Hatchet returned significant cobalt and nickel enrichment, with grades of up to 6.06% Co and 4.91% Ni (HT-83-61) 2 indicative of a geologic setting conducive to polymetallic uranium deposits, such as at the Midwest-U-Ni-Co deposit and at Cigar Lake. Historic hole RL-13-13 intersected 1.52% U 3 O 8 across 15 m and RL-13-16 intersected 0.45% U 3 O 8 over 2.3 m 2 . This mineralization is directly above the unconformity, within the Athabasca Sandstone.
Recently completed drill holes RL-24-29 and RL-24-30 both intersected significant structural disruption within the sandstone in addition to alteration indicative of hydrothermal fluid flow, such as strong dravite clay and illite clay alteration. Anomalous radioactivity of 360 cps, hosted in altered pelite 60 cm below the unconformity, was measured using a hand-held RS-125 scintillometer (a " Scintillometer ") on drill core recovered from drill hole RL-24-29 (Figure 2). A Scintillometer is used to measure total gamma radiation from drill core. Total gamma is an indication of uranium content, but may not correlate with chemical assays as other radioactive elements may be present.
Figure 2. Compilation Map Displaying Current and Historic Drill Hole Locations at Richardson (Background: 2010 Horizontal Loop Electromagnic or "HLEM" Data)
Tuning Fork
Drilling at the Tuning Fork targeted Small Moving Loop Electromagnetic (" SML-EM ") conductive anomalies in the vicinity of strongly anomalous geochemical results from previous drilling. Both completed holes (TF-24-11 and TF-24-12) intersected significant structural disruption and alteration indicative of hydrothermal fluid flow, including intense clay alteration and hydrothermal hematite. Notably, a shear zone with locally reactivated graphitic-pyritic faults was intersected on drill-hole TF-24-12 (Figure 3) at approximately 200m, situated roughly 80 metres below the unconformity. The projection of these structures to the unconformity represents a compelling target for future follow-up.
Figure 3. Compilation Map Displaying Current and Historic Drill Hole Locations at Tuning Fork (Background: 2009 HLEM Data)
Drill core samples from the 2024 drill program at Hatchet have been sent to the SRC Geoanalytical Laboratories in Saskatoon, Saskatchewan for analysis. The results discussed in this news release are preliminary, as assay results and interpretation thereof are pending.
Qualified Person
Technical information in this news release has been reviewed and approved by Jody Dahrouge, P.Geo. of Dahrouge Geological Consulting Ltd. and Foremost's chief technical advisor, who is a Qualified Person as identified by Canadian National Instrument 43-101-Standards of Disclosure for Mineral Projects and as defined by the Securities and Exchange Commission's Regulation S-K 1300 rules for resource deposit disclosure.
About Foremost
Foremost Clean Energy (NASDAQ: FMST) (CSE: FAT) (WKN: A3DCC8) is an emerging North American uranium and lithium exploration company with an option to earn up to a 70% interest in 10 prospective uranium properties (with the exception of the Hatchet Lake, where Foremost is able to earn up to 51%) spanning over 330,000 acres in the prolific, uranium-rich Athabasca Basin region of northern Saskatchewan. As the demand for carbon-free energy continues to accelerate, domestically mined uranium and lithium are poised for dynamic growth, playing an important role in the clean energy mix of the future. Foremost's uranium projects are at different stages of exploration, from grassroots to those with significant historical exploration and drill-ready targets. The Company's mission is to make significant discoveries, alongside and in collaboration with Denison (TSX:DML, NYSE American: DNN), through systematic and disciplined exploration programs.
Foremost also has a portfolio of lithium projects at varying stages of development, which are located across 55,000+ acres in Manitoba and Quebec. For further information please visit the company's website at www.foremostcleanenergy.com .
Contact and Information
Company
Jason Barnard, President and CEO
+1 (604) 330-8067
info@foremostcleanenergy.com
Investor Relations
Lucas A. Zimmerman
Managing Director
MZ Group - MZ North America
(949) 259-4987
FMST@mzgroup.us
www.mzgroup.us
Follow Us Or Contact Us On Social Media:
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Forward-Looking Statements
Except for the statements of historical fact contained herein, the information presented in this news release and oral statements made from time to time by representatives of the Company are or may constitute "forward-looking statements" as such term is used in applicable United States and Canadian laws and including, without limitation, within the meaning of the Private Securities Litigation Reform Act of 1995, for which the Company claims the protection of the safe harbor for forward-looking statements. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect," "is expected," "anticipates" or "does not anticipate," "plans," "estimates" or "intends," or stating that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, continuity of agreements with third parties and satisfaction of the conditions to the Transaction, risks and uncertainties associated with the environment, delays in obtaining governmental approvals, permits or financing. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities. and information. Please refer to the Company's most recent filings under its profile at on Sedar+ at www.sedarplus.ca and on Edgar at www.sec.gov for further information respecting the risks affecting the Company and its business.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
_____________________
1 https://www.isoenergy.ca/featured-project/
2 All historical drilling and exploration results provided by Denison Mines
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