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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TERRA CLEAN ENERGY CORP. (“Terra” or the “Company”) (CSE: TCEC, OTCQB: TCEFF, FSE: 9O0), is pleased to announce the completion of the first three drill holes at the South Falcon East Uranium Project (the “Property”) which hosts the Fraser Lakes B Uranium Deposit. Drilling will continue throughout March and is expected to complete over 2000 meters (m) of drilling.
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 (Figure 1). The Company entered into an option agreement with Skyharbour Resources Ltd. (“Skyharbour”) in October of 2022 whereby the company can earn up to a 75% interest in the Property.
The Company is currently conducting a 2000-2200 m helicopter supported drill program at the Property. Three diamond drill holes have been completed on the Fraser Lakes B Uranium Deposit, for a total of 802 m. A fourth hole in progress. (Figure 3)
“We are extremely encouraged by the results of the first three drill holes as we continue to see minerlization in each of the first three holes as well as what we believe to be an expansion of the deposit to the North. As stated below, Hole SF063 returned a continuous mineralized zone of pegmatities from 173 meters to 224 meters with some decent grades.” Based on the initial results from Hole SF063 we have decided to reorganize the remaining meters of this program to focus on further defining this new area of interest and chasing clay alteration not yet seen on the property to date, with hopes of finding a high grade unconformity uranium deposit.” said Greg Cameron CEO of the Company.
Hole SF063 was planned to examine an interpreted cross fault offsetting the mineralization and geology on the east end of the Fraser Lakes B Uranium Deposit. This hole was drilled to a depth of 393 meters and intersected multiple structures and a 51 m wide interval of mineralized granitic pegmatites and zones within altered and graphitic pelitic gneiss. Highlights include:
including 0.06% eU3O8 over 0.7 m from 180.35 to 181.05 m
including 0.07% eU3O8 over 0.5 m from 215.95 to 216.45 m
The first structure intersected from 18 m to 47.5m contained zones of intense clay alteration typically found in relation to unconformity uranium deposits. The presence of this alteration is a good indication that hydrothermal fluids suitable for deposition of higher-grade uranium deposits moved through the rocks. The second structure from 306 to 315 m is a brecciated pelitic gneiss situated between two intervals of Archean gneiss. This structure is interpreted to be responsible for the geological offset being targeted. This will assist in updating the target model in this area. The intersections of a clay altered structure and a thick sequence of mineralized pegmatites and pelitic gneiss have expanded the mineralization and improved the prospectivity on the east end of the Fraser Lakes B Uranium Deposit.
”The results from the drilling so far are very encouraging,” commented Trevor Perkins, Vice President of Exploration for Terra Clean Energy Corp. “The first two holes have shown that the deposit is still open down dip to the north and northwest. Hole SF0063 has shown that there is significant potential for upgrading the deposit on the east end. We are excited to see where this can lead”, continued Mr. Perkins.
Drilling is continuing with one hole in progress in the T-Bone lake area to examine the conductive package and alteration intersected in the area in historical drilling. Pad preparation is underway to return to the area around SF0063 and follow up on the clay alteration and pegmatites. Efforts will be made to follow the alteration and pegmatites to where they intersect, as this should be an area of fluid pooling and upgrading of mineralization within the deposit.
Hole SF061 was planned to test for a down dip extension of mineralization intersected in hole FP-15-05 and was drilled to a depth of 209 m. Drilling intersected a 35 m interval containing multiple mineralized granitic pegmatites and zones within altered and graphitic pelitic gneiss. The most notable zone returned an equivalent grade of 0.02% eU3O8 over 2.2 m from 150.25 to 152.45 m, including 0.05% eU3O8 over 0.6 m from 151.65 to 152.25 m.
Historical diamond drill hole FP-15-05 was drilled by Skyharbour in 2015 and returned multiple zones of mineralization over a 14m interval, including 6m of .10% U308 (including a 2m of 0.165% U3O8 (from 135m) and 2.5m of 0.172% U3O8 (from 145m).
Hole SF062 was planned to test for an along strike extension of mineralization intersected in holes FP-15-05 and SF0061, and was drilled to a depth of 200 m. Drilling intersected a 21 m interval containing multiple mineralized granitic pegmatites and zones within altered and graphitic pelitic gneiss. The most notable zone returned an equivalent grade of 0.03% eU3O8 over 2.2 m from 141.75 to 144.15 m, including 0.05% eU3O8 over 0.4 m from 143.15 to 143.55 m.
While both of these holes extended the mineralization down dip and along strike to the north and northwest, they did not intersect the higher grades encountered in hole FP-15-05. This is due to the potential variability within the pegmatite swarm. As long as the mineralized pegmatites are present, higher grades will be encountered within the overall mineralized zone.
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Figure 1: South Falcon East Uranium Project Location – Eastern Athabasca Basin, Saskatchewan, Canada
Click Image To View Full Size
Figure 2: 2025 Drill Target areas at the South Falcon East Uranium Project
Click Image To View Full Size
Figure 3: 2025 - Completed drill holes at South Falcon East Uranium Project
Samples of the mineralized intervals within the drill core have been collected and shipped for analysis at the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon, Saskatchewan. The Company will provide more detailed results once geochemical analysis of the collected core samples is completed, reviewed and confirmed.
QA/QC, Radiometric Equivalent Grades and Spectrometer Readings:
All drill intervals above are downhole length and sampling procedures and QA/QC protocols for geochemical results as well as a description of downhole gamma probe grade calculations and protocols are below. All drill core samples are shipped to the Saskatchewan Research Council Geoanalytical Laboratories (“SRC”) in Saskatoon, Saskatchewan under the care of Terra personnel for preparation, processing, and multi-element analysis by ICP-MS and ICP-OES using total (HF:NHO3:HClO4) and partial digestion (HNO3:HCl), boron by fusion, and U3O8 wt% assay by ICP-OES using higher grade standards. Assay samples are chosen based on visual inspection, downhole probing radiometric equivalent uranium grades and scintillometer (Radiation Solutions RS-125) peaks. Assay sample intervals comprise 0.5 to 1.0 metre continuous half-core split samples over the mineralized interval. These samples may also be selected for density determination using the lost wax method. With all assay samples, one half of the split sample is retained and the other sent to the SRC for analysis. The SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. Blanks, standard reference materials, and repeats are inserted into the sample stream at regular intervals by Terra and the SRC in accordance with Terra’s quality assurance/quality control (QA/QC) procedures. Geochemical assay data are subject to verification procedures by qualified persons employed by Terra prior to disclosure.
During active exploration programs drillholes are radiometrically logged using calibrated downhole Mount Sopris 4OTGU or 2GHF probes of varying sensitivities which collect continuous readings along the length of the drillhole. Preliminary radiometric equivalent uranium grades (“eU3O8”) are then calculated from the downhole radiometric results. The probe is calibrated using an algorithm calculated from the calibration of the probe at the Saskatchewan Research Council facility in Saskatoon and from the comparison of probe results against geochemical analyses. In the case where core recovery within a mineralized intersection is poor or non-existent, radiometric grades are considered to be more representative of the mineralized intersection and may be reported in the place of assay grades. Radiometric equivalent probe results are subject to verification procedures by qualified persons employed by Terra prior to disclosure.
About Terra Clean Energy Corp.
Terra Clean Energy (formerly Tisdale Clean Energy Corp) 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 Deposit, located in the Athabasca Basin region, Saskatchewan, Canada.
ON BEHALF OF THE BOARD OF TERRA CLEAN ENERGY CORP.
“Greg Cameron”
Greg Cameron, CEO
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., the Company’s Vice President, Exploration, 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 sedarplus.ca 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.
Forward-Looking Information
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information, including statements regarding the potential development of mineral resources and mineral reserves which may or may not occur. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and general economic and political conditions. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary approvals, including governmental and regulatory approvals will be received as and when expected. 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by applicable laws. For more information on the risks, uncertainties and assumptions that could cause our actual results to differ from current expectations, please refer to the Company’s public filings available under the Company’s profile at www.sedarplus.ca.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For further information please contact:
Greg Cameron, CEO
Terra Clean Energy Corp
Suite 303, 750 West Pender Street
Vancouver, BC V6C 2T7
Highlights
A summary of the material terms and conditions of the binding option and earn-in agreement is set out in Annexure A.
Commenting on the Company’s strategic alliance with Boss Energy, Eclipse Metals Executive Chairman Carl Popal said:
“Partnering with Boss Energy is a key milestone for Eclipse Metals and the advancement of the Liverpool Uranium Project.
“Boss Energy as a uranium producer will accelerate our exploration efforts, bringing us closer to unlocking the full potential of this highly prospective region.
“This strategic alliance allows Eclipse to enhance shareholder value in this long-held asset while sharpening our focus on critical mineral opportunities. Our key projects in Greenland, with their rich rare earth and industrial mineral potential, and other Australian assets remain central to our mission of contributing to the global critical minerals supply chain.”
ABOUT THE LIVERPOOL URANIUM PROJECT
The Liverpool Uranium Project comprises five exploration licences – EL27584, ELA31065, ELA31770, ELA31771, and ELA31772 – covering 1,229 square kilometers. Notably, the Devil's Elbow prospect within EL27584 has yielded high-grade surface uranium assays, including results up to 5.8% U₃O₈, as well as significant gold and palladium mineralisation (EPM announcement 20 April 2020).
The Company’s previous exploration programs focused on the area around the Devil’s Elbow, Terrace and Ferricrete uranium prospects, concentrating on high-priority areas defined by historical geochemical and radiometric anomalies within EL27584 and relatively unexplored ground south of the Ranger Fault.
The Devil’s Elbow prospects show strong similarities to the Jabiluka uranium and gold mine, which was discovered in 1971. Jabiluka is located 20km to the north of the Ranger Uranium Mine and about 75km west of the Devil’s Elbow. At Jabiluka, uranium and gold mineralisation occurs in an altered section of the Cahill Formation, near reverse faulting structures that are like those at the Devil’s Elbow prospect.
Figure 1: The Liverpool Uranium Project
STRATEGIC SIGNIFICANCE
This strategic alliance combines Eclipse's deep knowledge of the Project with Boss Energy's proven expertise in uranium exploration and production. The Alligator Rivers Uranium Field is renowned for its high-grade deposits, positioning both companies to capitalise on the region's significant potential.
Boss Energy intends to begin exploration activities on the Project during the 12-month option period, which will include mineral prospectivity mapping, target generation and validation of targets.
This strategic alliance underscores Eclipse's commitment to expanding its diverse portfolio of mineral projects, while aiming to create shareholder value, and contribute to the global supply of critical minerals.
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This article includes content from Eclipse Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Highlights:
AR3 Managing Director and CEO, Travis Beinke, said:
“The intersection of a shallow uranium occurrence in OV047 is a significant step forward in our exploration program at Overland. The identification of shallow mineralisation, coupled with the confirmation of the palaeovalley's southern extension, underscores and reinforces the - potential of this project.
Our systematic approach to exploration and targeted drilling, continues to deliver results. We are excited to accelerate our follow up drilling to further delineate the extent of this new uranium occurrence and test the numerous high-priority targets we have identified. We look forward to reporting further results as we continue our drilling program through to the end of April."
Figure 1: Strip log displaying drillhole OV047 lithology, natural gamma responses (cps) and pXRF uranium responses (ppm U). In relation to the disclosure of pXRF results, the Company cautions that estimates of uranium elemental abundance from pXRF results should not be considered a proxy for quantitative analysis of a laboratory assay result. Assay results are required to determine the actual widths and grade of the mineralisation. The company uses an Olympus Vanta M Series portable X-ray Fluorescence (pXRF) analyzer to screen Air Core drilling samples for mineralization prior to submitting samples to a commercial laboratory for assay. This provides an initial understanding of the mineralization distribution before sampling, ensuring submitted samples are representative of the targeted mineralization. While pXRF confirms the presence of mineralization, it does not accurately determine elemental concentrations due to limitations such as a small analysis window, uneven distribution, shallow penetration depth, and irregular surfaces. The pXRF results are indicative and the pXRF readings are subject to confirmation by chemical analysis from an independent laboratory.
The 2025 program, which began 30 January 2025, has focused on mapping the newly defined palaeovalley (refer ASX release 21 January 2025) further south within EL7001 and onto the Sheer Gold Farm-In tenure, EL66783. A total of 22 drillholes has been completed, totaling 3,010 meters, illustrated in Figure 2.
Target 1 of EL6678, drillhole OV047 has intersected a 6 meter interval containing anomalous gamma and pXRF Uranium (U) responses. Gamma responses peaked at 741 counts per second (cps), with maximum pXRF uranium response of 105ppm U. This surficial uranium occurrence is similar to uranium mineralisation found in Namibia’s surficial uranium deposits, like Paladin Energy’s Langer Heinrich Mine. Similar calcrete-hosted deposits are also found in Western Australia4 at Cameco Corporation’s Yeelirrie deposit and Toro Energy’s Wiluna project.
The identification of another potential uranium occurrence model at Overland highlights the region’s fertility, where uranium in solution enters the basin and is captured at various geochemical interfaces within the sedimentary sequences. Drillhole OV047 shows anomalous uranium responses over a 6 meter interval from 27 meters and displayed the highest gamma response yet seen at the base of oxidation interface with reduced sediments. These findings suggest potential for both deeper palaeochannel hosted, in-situ recoverable (ISR) deposits and shallow surficial deposits in this setting.
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This article includes content from Australian Rare Earths, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.