IsoEnergy CEO Craig Parry joined INN at PDAC to discuss recent progress exploring the Hurricane zone at Larocque East.
IsoEnergy (TSXV:ISO,OTCQX:ISENF) CEO Craig Parry joined the Investing News Network at the 2020 Prospectors & Developers Association of Canada conference to discuss the company’s recent progress exploring the Hurricane Zone at Larocque East.
The company’s flagship uranium project is located in the Eastern Athabasca Basin of Saskatchewan, a province that routinely ranks among the world’s leading mining jurisdictions. IsoEnergy recently released drill results from its last two drill holes at the Hurricane zone, which returned results that were much better than expected according to Parry. “They’re very, very exciting results. We knew that they might be pretty good based on the scintillometer results that we had, but we didn’t think they would be this good,” he said. “They’re truly spectacular: 8.5 meters at 33.9 percent U3O8 including a five-meter range that averages 57.1 percent uranium, so astonishingly-high grades.”
Parry believes that the results from the Hurricane zone are reflective of the mineralization that the Athabasca region has become known for, with the intention to continue to expand the deposit as the company moves forward. “Those results confirm Hurricane is one of those high-grade true unconformity-related Athabasca deposits,” said Parry. “We’ll focus on drilling out that resource. I’d like to think that midway through next year we’ll have an initial resource on the deposit. Because we haven’t closed it off in any dimension yet, there’s still a lot of drilling to come.”
Despite releasing strong drill results, the share price of IsoEnergy has remained relatively quiet since the announcement, something Parry attributes to negative macroeconomic trends in the marketplace. “It’s not too late to get on board the ISO train. After putting out those results our share price finished flat. It was up about 35 percent the day we released it, but because we hit these horrible headwinds with the coronavirus and global market conditions worsening we stayed flat,” said Parry. “Typically most uranium stocks are down 30 or 40 percent on the week. So that was the benefit of having that discovery, the share price stayed steady. We’ll just keep sitting there and drilling that deposit out as we go. There are still a few other things happening at the moment that we think are pretty positive signals.”
The US Government’s recent announcement that it intends to create a uranium stockpile to defend the country from foreign dependency is one of the major factors Parry expects to bolster the market moving forward. “In the background, the macro picture looks very favorable for us with Trump,” said Parry. “His plans will further draw down the inventories that we think are out there having an effect on the market.”
Moving forward, Parry and his team intend to continue drilling at the Hurricane deposit as they work to complete the company’s latest drill program. “We’ve got two rigs on the ground as we speak. We’ll wrap up this current drill program over the next couple of weeks. Then you’ll see a lot more news flow from us, so stay tuned. We’re drilling in and around some of those high-grade hits. We’ll see what comes next, but we’re pretty excited about it.”
For a more comprehensive update from IsoEnergy CEO Craig Parry, watch the video above.
This interview is sponsored by IsoEnergy (TSXV:ISO,OTCQX:ISENF). This interview provides information that was sourced by the Investing News Network (INN) and approved by IsoEnergy in order to help investors learn more about the company. IsoEnergy is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
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