IsoEnergy Discovers New Uranium Deposit in Athabasca
The drill hole was completed on the wholly owned Larocque East property in the Eastern Athabasca basin, Saskatchewan.
IsoEnergy (TSXV:ISO,OTCQX:ISENF) has released the geochemistry results for the interval of uranium mineralization intersected in previously reported drill hole LE18-01A. The drill hole was completed on the wholly owned Larocque East property in the Eastern Athabasca basin, Saskatchewan.
As quoted from the press release:
A broad, 8.5-metre-long interval of elevated radioactivity, averages 1.26 percent U3O8 (above a cutoff of 0.1 percent U3O8), and includes a higher-grade subinterval of 3.58 percent U3O8 over 2.5 metres. Within the higher-grade subinterval is a zone of off-scale radioactivity (>15,000 cps on an SRAT SPP2 scintillometer (the “SPP2”)) that averages 6.45 percent U3O8 over 1.0 metre. This new zone of mineralization has been named the Hurricane zone.
“The geochemical results reported herein support our view that the Hurricane zone is a significant new discovery of high-grade uranium mineralization in the Eastern Athabasca Basin. Importantly, the mineralization is relatively shallow and close to other major uranium deposits and mines in the prolific Eastern Athabasca. It is pleasing that as we continue to execute on our strategy of acquisition and exploration of Athabasca Basin uranium assets that these projects are starting to deliver on their exploration potential. The timing for discovery of high-grade uranium could not be better as the uranium spot price continues to strengthen to over C$26/lb. in recent days with further upward pressure on the uranium price emerging. We continue to work hard to position IsoEnergy as the go-to name amongst junior uranium exploration companies and these excellent results see us firmly on that path,” said Craig Parry, CEO of IsoEnergy.
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