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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Highlights:
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 been received from the first six RC drillholes from Long Pocket and the remaining three diamond drillholes at the Amphitheatre prospect.
Long Pocket drilling is demonstrating that uranium mineralisation is laterally continuous with drillhole collar spacing now generally less than 50m which lends to a high level of confidence of the mineralisation. Zones of higher-grade uranium intercepted within the broader coherent mineralised envelope include:
Amphitheatre drilling intercepted multiple zones of uranium mineralisation down hole and indicates that the target remains open to the south.
Commenting on the results, Laramide's Vice-President of Exploration, Rhys Davies said:
"The first batch of 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.
"Building on previously reported results, Amphitheatre continues to impress with multiple zones of sandstone hosted mineralisation. The prospect remains open to the north and to the south which warrants follow-up drilling during this field season.
"We look forward to updating investors as more assay results are received over the coming weeks and months."
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.
Initial results from the 2024 drilling confirms shallow ( 50m depth), flat-lying, continuous mineralisation (Figure 1) with multiple high zones intersecting a similar highly altered hematitic sandstone of medium to coarsely grained and poorly sorted texture, located peripheral to a dyke/sill margin.
Assay results from the remaining Long Pocket drilling are expected in Q3 & Q4 2024 and results from this drilling program will be incorporated into a Maiden Resource Estimation of the deposit in Q1 2025. The central part of this deposit is now well understood with hole spacing now less than 50m in places.
Amphitheatre Uranium Prospect
The Amphitheatre uranium prospect is located 16km northeast of the Junnagunna uranium deposit.
Drilling in 2024 comprised 5 diamond holes ( 932.7m ), which targeted extensions to uranium mineralisation both laterally and down dip and successfully identified new zones for follow up. The Amphitheatre prospect geology consists of the Cliffdale Volcanics and Westmoreland Conglomerate and is predominantly situated within a stratigraphic basal pebble conglomerate (Ptw1). An interpreted north-south trending fault bounds stratigraphy to the east with a massive, medium sandstone and scattered quartz pebbles (Ptw2). Mineralisation is interpreted to be structurally and stratigraphically controlled displaying an eastern downthrow with no apparent lateral movement (Ptw2 expressing to the east and Ptw1 to the west) (Figure 2).
Initial interpretation suggests that mineralisation may continue to the north but under alluvial cover which obscures any surface radiometric response. Follow up holes to test this region are being planned for the end of the 2024 drilling campaign.
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.
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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 | 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 | From | To | Length (m) | U 3 0 8 ppm | Au g/t |
AMD010 | 22.25 | 23.55 | 1.3 | 208.13 | 0.01 |
AMD010 | 57.05 | 58.05 | 1 | 211.67 | 0.03 |
AMD010 | 63.05 | 64.3 | 1.25 | 130.30 | 0.02 |
AMD010 | 74.2 | 75.2 | 1 | 172.16 | 0.05 |
AMD010 | 79.2 | 80.2 | 1 | 129.71 | 0.04 |
AMD010 | 86.2 | 88.2 | 2 | 124.70 | 0.005 |
AMD010 | 109.6 | 111.6 | 2 | 164.50 | 0.01 |
AMD010 | 114.65 | 120.4 | 5.75 | 142.06 | 0.053 |
AMD010 | 129.95 | 130.95 | 1 | 125.58 | 0.01 |
AMD010 | 140.95 | 141.95 | 1 | 108.60 | 0.01 |
AMD010 | 167.29 | 169.29 | 2 | 179.83 | 0.06 |
AMD011 | 5 | 7 | 2 | 189.26 | 0.008 |
AMD011 | 43 | 44 | 1 | 107.31 | 0.02 |
AMD011 | 137 | 144 | 7 | 307.89 | 0.006 |
AMD011 | 174 | 175 | 1 | 299.52 | 0.02 |
AMD011 | 179 | 181 | 2 | 467.55 | 0.005 |
AMD012 | 65 | 69 | 4 | 200.94 | 0.029 |
LP24RC001 | 5 | 6 | 1 | 119.10 | 0.005 |
LP24RC001 | 28 | 29 | 1 | 127.35 | 0.005 |
LP24RC001 | 38 | 41 | 3 | 261.39 | 0.053 |
LP24RC002 | 8 | 9 | 1 | 105.89 | 0.005 |
LP24RC002 | 15 | 20 | 5 | 328.53 | 0.1 |
LP24RC002 | 29 | 30 | 1 | 107.66 | 0.02 |
LP24RC002 | 36 | 38 | 2 | 233.78 | 0.035 |
LP24RC003 | 7 | 30 | 23 | 221.59 | 0.006 |
LP24RC003 | 38 | 40 | 2 | 229.65 | 0.035 |
LP24RC004 | 2 | 3 | 1 | 126.76 | 0.01 |
LP24RC004 | 6 | 16 | 10 | 606.32 | 0.008 |
Including* | 11 | 13 | 2 | 1726.35 | 0.01 |
LP24RC004 | 35 | 39 | 4 | 282.21 | 0.06 |
LP24RC005 | 1 | 4 | 3 | 229.75 | 0.005 |
LP24RC005 | 40 | 42 | 2 | 289.79 | 0.055 |
LP24RC006 | 16 | 24 | 8 | 1769.91 | 0.008 |
Including* | 17 | 21 | 4 | 3127.83 | 0.008 |
LP24RC006 | 33 | 35 | 2 | 143.80 | 0.095 |
* Included intercepts are above >1000 ppm U 3 O 8 | |||||
SOURCE Laramide Resources Ltd.
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HIGHLIGHTS
This release follows on from GTI’s 31 July 2024 and 11 September 2024 news releases which together reported results from the first sixty-six (66) drill holes. Results from this next seven (7) drill holes (Table 1) included six (6) holes which purposely targeted deeper mineralisation in the upper Fort Union Formation (Figure 2) and delivered the following highlights:
GTI Director & CEO Bruce Lane commented“We are delighted that these results confirm excellent grades across good thicknesses in multiple stacked sands of the Fort Union formation. We remain very optimistic that additional pounds from this eastern part of Lo Herma can be bought into resource. This year’s drilling has successfully confirmed that stacked sand units of both the lower Wasatch & upper Fort Union contain reliable continuity of mineralisation across extended areas of the project. The 2024 resource drilling is now completed with hydrogeologic and water monitoring wells to be completed in October. Following completion of that work, we plan to update the Mineral Resource Estimate and Exploration Target for Lo Herma by year end.”
FIGURE 1. LO HERMA ISR URANIUM PROJECT DRILLING, POWDER RIVER BASIN, WY
DRILLING RESULTS
Mud rotary drilling commenced at Lo Herma on Wednesday, 24 July 2024. Over the first three days of drilling, ten (10) drill holes were completed for a total of 1,908m (6,260 ft) of drilling. Results of those drill holes were previously announced to the ASX on 30 July 2024. Subsequent to that, GTI reported the results of drill holes 11 through 66 on 11 September 2024. The results of the next seven (7) drill holes, 6 of which targeted mineralisation in the deeper Fort Union formation (Figure 2), are reported here.
The current drill program was designed to further expand the mineral resource, upgrade the classification of a portion of the inferred mineral resource, and collect additional geochemical and hydrogeologic data necessary to advance a scoping study for Lo Herma.
Of the seven (7) drill holes reported here, six (6) drill holes targeted deeper mineralisation in the Fort Union Formation. Of those drill holes, four (4) drill holes exceeded the minimum grade cutoff of 200 ppm eU3O8 and the total hole grade-thickness (GT) cutoff of 0.2 GT, one (1) drill hole demonstrated trace mineralisation but did not meet the grade cutoff, and one drill hole was lost before the downhole gamma log could be completed. An additional drill hole in the northern extent of the property reported here encountered trace mineralisation.
All drill holes completed were beneficial in determining the lateral geometry of the sinuous roll front type uranium deposits present at Lo Herma across multiple sandstone units.
The best individual mineralised intercept was encountered in drill hole LH-24-071 which encountered 3.5ft (1m) of 0.185% (1,850 ppm) eU3O8 from a depth of 1302.5 ft, providing a 0.648 GT for the intercept. The total hole GT for drill hole LH-24-071 was 0.800. The greatest total Hole GT was encountered in drill hole LH-24-069, which encountered mineralisation above the 0.02% eU3O8 cut-off within five (5) sand units, providing a total hole GT of 1.092.
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Ur-Energy Inc. (NYSE American:URG)(TSX:URE) (the "Company" or "Ur-Energy") provides the following updates on Lost Creek Mine operations and Shirley Basin construction, as well as updated production guidance
Lost Creek Production Operations
Ramp up continues at Lost Creek with five header houses coming online in 2024. Most recently, Header House (HH) 2-10 came online in mid-August, as scheduled, and HH2-11 is expected to come online this month. Average production solution headgrade in August was 67.1 mg/L. Our fifth shipment of yellowcake this year arrived at the conversion facility on September 11, and we are planning our next shipment of dried product for late September. Deep disposal well #5 was recently placed into operation and is satisfying wastewater needs.
We now have 15 drill rigs on site with additional drill rigs pending (not including three rigs at our Shirley Basin Project). As we are able to grow the space between wellfield construction and drilling, we plan to ultimately redirect some of the drill rigs to exploration projects within the Great Divide Basin with the goal of replacing mined pounds with new uranium resources.
We continue to focus on employee training and retention as these are currently our most notable challenges because many of our employees have little experience with uranium production. Our quality workforce is, however, stabilizing.
Every month of 2024, except for June, we have steadily increased the pounds captured in the processing plant. The Lost Creek wellfield is performing as expected and the issues which have slowed ramp-up are temporary in nature. While ramp up continues to move in the right direction, it has been slower than anticipated largely due to manpower matters. Therefore, we are revising our 2024 production guidance to a range of 325,000 to 475,000 pounds of U3O8 captured. We expect to satisfy our contractual commitments to our customers with Lost Creek production and available alternatives.
Shirley Basin Development
Installation of the monitor wells for the first mine unit at Shirley Basin is on schedule with 120 of the 120 planned wells piloted and cased. We expect to finalize well completions in the coming days. We currently have three drill rigs working at Shirley Basin, which will redeploy to Lost Creek when the completion work concludes.
Plans are being finalized to collect baseline water quality and perform hydrologic aquifer tests this fall. Power supply to the satellite plant construction area has been completed and the line is energized. The access road upgrades are complete, and the septic system is being installed. Construction of fifteen IX columns is on target with delivery expected in Q3 2025. Our purchasing program for equipment continues, with an emphasis on continually reviewing the timing for long lead-time purchases such as electronic components.
We continue to expect construction at Shirley Basin to be complete in late 2025 with a pre-operations inspection by the State of Wyoming following soon after.
About Ur-Energy
Ur-Energy is a uranium mining company operating the Lost Creek in situ recovery uranium facility in south-central Wyoming. We have produced and packaged approximately 2.7 million pounds U3O8 from Lost Creek since the commencement of operations. Ur-Energy has all major permits and authorizations to begin construction at Shirley Basin, the Company's second in situ recovery uranium facility in Wyoming and is advancing Shirley Basin construction and development following the March 2024 ‘go' decision for the mine. We await the remaining regulatory authorization for the expansion of Lost Creek. Ur‑Energy is engaged in uranium mining, recovery and processing activities, including the acquisition, exploration, development, and operation of uranium mineral properties in the United States. The primary trading market for Ur‑Energy's common shares is on the NYSE American under the symbol "URG." Ur‑Energy's common shares also trade on the Toronto Stock Exchange under the symbol "URE." Ur-Energy's corporate office is in Littleton, Colorado and its registered office is in Ottawa, Ontario.
FOR FURTHER INFORMATION, PLEASE CONTACT
John W. Cash, Chairman, CEO & President
20-981-4588, ext. 303
John.Cash@Ur-Energy.com
Cautionary Note Regarding Forward-Looking Information
This release may contain "forward-looking statements" within the meaning of applicable securities laws regarding events or conditions that may occur in the future (e.g., the timing of upcoming shipments from Lost Creek; our ability to satisfy contractual commitments to our customers; our planned future use of drill rigs; 2024 Lost Creek production guidance; the timing and ability to complete the build out of Shirley Basin as currently projected). Forward-looking statements are based on current expectations that, while considered reasonable by management at this time, inherently involve a number of significant business, economic and competitive risks, uncertainties and contingencies. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans," "expects," "does not expect," "is expected," "is likely," "estimates," "intends," "anticipates," "does not anticipate," or "believes," or variations of the foregoing, or statements that certain actions, events or results "may," "could," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, are considered to be forward-looking statements. 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 express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from any forward-looking statements include, but are not limited to, capital and other costs varying significantly from estimates due to inflation or otherwise; staffing challenges; failure to establish estimated resources and reserves; the grade and recovery of ore which is mined varying from estimates; production rates, methods and amounts varying from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; supply chain constraints; changes in exchange rates; fluctuations in commodity prices; delays in development and other factors described in the public filings made by the Company at www.sedarplus.ca and www.sec.gov. Readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are based on the beliefs, expectations and opinions of management as of the date hereof and Ur-Energy disclaims any intent or obligation to update them or revise them to reflect any change in circumstances or in management's beliefs, expectations or opinions that occur in the future.
SOURCE: Ur-Energy Inc.
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