4,500 Metre, 10-hole Drill Program Following Up on Discovery Intercept of 8.5 Metres Averaging 1.26% U3O8
IsoEnergy Ltd. (TSXV:ISO; OTCQX:ISENF) (“IsoEnergy” or the “Company”) is pleased to announce that it has commenced a program of follow-up core drilling targeting extensions of the newly discovered Hurricane zone uranium mineralization at its 100% owned Larocque East property (the “Property”) in the Eastern Athabasca Basin of Saskatchewan.
Drilling Program Mobilization Highlights
- 23 kilometres of winter road have been established
- A fully winterized work camp has been erected one kilometre from the drill site
- Drilling has begun with the collaring of drill hole LE19-02
Steve Blower, Vice President, Exploration commented: “This program, being the first follow-up drilling campaign to our successful summer 2018 program, is the first step in determining the nature and extent of the Hurricane zone, one of many drilling targets present on the Larocque East property.”
The Drill Program
The planned drilling program consists of 4,500 metres of core drilling in ten drill holes designed to follow-up discovery hole LE18-01A, the last hole drilled in the summer 2018 drilling program. An 8.5-metre-long interval of uranium mineralization (see news release dated July 25, 2018) in LE18-01A averages 1.26% U3O8 (above a cutoff of 0.1% U3O8) and includes a zone of off-scale radioactivity (>15,000 cps on an SRAT SPP2 scintillometer (the “SPP2”)) that averages 6.45% U3O8 over 1.0 metre. Figure 1 shows the location of the Larocque East property and the Hurricane zone.
A 23-kilometre-long winter road has been established from the Athabasca seasonal road that connects Points North Landing and Stony Rapids. The winter road has allowed the construction of a fully-winterized and scaleable temporary work camp that is located approximately one kilometre from the drill site.
Initial drill holes will determine the nature and extent of the Hurricane zone on the LE18-01A cross-section, with holes drilled both to the northwest and southeast of the discovery drill hole LE18-01A. Drill hole spacing on the section is expected to be approximately 12.5 metres and is shown on the cross-section in Figure 2. The first follow up drill hole to LE18-01A is called LE19-02 and is a vertical hole that will intersect the unconformity target 12.5 metres north of drill hole LE18-01A. Once the dimensions and the geology on the LE18-01A cross-section are fully understood, subsequent drill holes will step out along-strike of the Hurricane zone in both directions. The expected step-out distance along-strike is 25-50 metres, depending on the results from the initial drill holes.
The Larocque East Property
Larocque East consists of 6 mineral claims totaling 3,200 hectares and was recently purchased in May, 2018. The Property is owned 100% by IsoEnergy and is not encumbered by any royalties or other interests. Larocque East is immediately adjacent to the north end of IsoEnergy’s recently expanded Geiger property and is 35 kilometres northwest of Orano Canada’s McClean Lake uranium mine and mill.
The Property covers a 15-kilometre-long northeast extension of the Larocque Lake conductor system; a trend of graphitic metasedimentary basement rocks that is associated with significant uranium mineralization in several occurrences to the southwest of the Larocque East property. The closest of these are Cameco’s Larocque Lake and Larocque Northzones, which are located 6.5 kilometres and 0.4 kilometres, respectively, to the southwest of the western Larocque East property boundary. Drilling at the Larocque Lake zone has returned intersections of up to 29.9% U3O8 over 7.0 metres in drill hole Q22-040. The Larocque East property is located adjacent to the Wollaston-Mudjatik transition zone – a major crustal suture related to most of the major uranium deposits in the Eastern Athabasca Basin. Importantly, the vertical distance from surface to the unconformity is short, ranging between 140 metres and 330 metres in previous drilling. A total of 23 historical drill holes have been completed on the Property along approximately 22 kilometres of graphitic conductors. Several high priority drilling targets are present on the property (see Figure 1), in addition to the open high-grade uranium mineralization at the Hurricane zone.
Qualified Person Statement
The scientific and technical information contained in this news release was prepared by Steve Blower, P.Geo., IsoEnergy’s Vice President, Exploration, who is a “qualified person” (as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects). Mr. Blower has verified the data disclosed. This news release refers to properties other than those in which the Company has an interest. Mineralization on those other properties is not necessarily indicative of mineralization on the Company’s properties.
Having raised $5.5 million in the past month, IsoEnergy is a well-funded uranium exploration and development company with a portfolio of prospective projects in the eastern Athabasca Basin in Saskatchewan, Canada and a historic inferred mineral resource estimate at the Mountain Lake uranium deposit in Nunavut. IsoEnergy is led by a Board and Management team with a track record of success in uranium exploration, development and operations. The Company was founded and is supported by the team at its major shareholder, NexGen Energy Ltd.
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