Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QE2) ("Hertz" or the "Company") is pleased to announce the acquisition of the Harriman Antimony Property ("Harriman Property" or the "Property") comprised of 49 mineral claims (approximately 2,500 hectares) located in the Province of Québec through an arms length option agreement (the "Agreement") between prospector Glenn Griesbach ("Griesbach") and Canuck Lithium Corp. ("Canuck Lithium"), a wholly-owned subsidiary of Hertz.
The Harriman Property is an exploration stage antimony project located approximately 17 km northeast of the town of New Richmond in the Gaspé Region of Québec. The Gaspé Region is known for a variety of significant mineral deposits, most notably the Mine Gaspé Copper Mine, currently being developed by Osisko Metals. The Harriman Property benefits from good road access, hydroelectric power, port access, and nearby available manpower.
The Property was developed by compiling and reviewing historical antimony (Sb) and gold (Au) showings from the Québec government geoscientific database known as SIGÉOM. The Property area was defined by a series of four antimony showings, all hosted along a northeast-trending fault structure. Historical results from the nearby showings on the northeast-trending fault include 2.32% Sb, 3.36 g/t Au (Harriman-2), 43.75 Sb, 3.4 g/t Au (New Richmond), 4.8% Sb, 7.89 g/t Au and 15.35% Sb (Harriman-4 Sud) (source: SIGÉOM).
The Harriman Property includes the Harriman-Sud showing returning 15.35% Sb from a historical grab sample. This showing has had limited previous exploration and has not had any historical drilling.
No mineral resources or reserves have been defined on the Property. References herein to potential grades herein are historical and conceptual in nature. There has been insufficient exploration to define a mineral resource or deposit and there can be no assurance that further geological work will result in mineral resources, or a deposit being defined on the Property.
The Property is being acquired from Glenn Griesbach, P.Geo a prolific prospector who has compiled the Harriman property. Mr. Griesbach is currently number four (4) on the list of claims ownership in the Province of Québec with over 7,500 active claims and has completed over sixty (60) mineral property transactions.
Hertz Energy currently holds approx. $750,000 in critical minerals Flow Thru capital and intends to aggressively explore the Harriman Antimony Project. Hertz is immediately launching a ground surface exploration program in mid September with the intention to advance the project towards a winter drill program.
OPTION AGREEMENT TERMS
The Company can exercise the Option and earn a 100% interest in the Property by making a cash payment of $20,000 within seven business days of execution of the Agreement and issuing an aggregate of 4,000,000 common shares to Griesbach.
The issuance of 4,000,000 common shares of Hertz Energy (parent company of Canuck Lithium) to Griesbach is as follows:
Upon the commencement of commercial production from the Property, the Company will pay a royalty (the "NSR Royalty") to Griesbach being equal to 2.5% of Net Smelter Returns. The NSR Royalty may be reduced at any time from 2.5% of Net Smelter Returns to 1% of Net Smelter Returns by the Company or its permitted assign, by paying to Griesbach C$1,500,000. This right shall be exercisable at the Option of Canuck Lithium at any time and shall run with the land and not be assignable without the consent of Canuck Lithium.
Figure 1 Harriman Antimony Project Map
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https://images.newsfilecorp.com/files/9656/222359_05bd505fe49fc9c2_002full.jpg
Figure 2: Harriman Antimony Project Geology Map
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https://images.newsfilecorp.com/files/9656/222359_05bd505fe49fc9c2_003full.jpg
Figure 3: Harriman Antimony Airborne Magnetics Map
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https://images.newsfilecorp.com/files/9656/222359_05bd505fe49fc9c2_004full.jpg
About Antimony-In short Supply
In August, China announced antimony export restrictions which take effect on September 15, 2024 (source: Reuters, August 28, 2024) and are expected to have significant implications for the global antimony supply chain. China's announcement of antimony export restrictions has added fuel to a red-hot market and opens another potential flash-point with the West for control of critical minerals. Antimony is a little-known metal with multiple applications. Antimony's largest end-use is as a flame retardant, but it is also found in solar panels and batteries. The U.S. Department of the Interior has designated it a critical mineral because it is also essential for armour-piercing ammunition, infrared sensors, and precision optics.
Antimony prices have nearly doubled since the start of the year to a record $22,750 per tonne in part because of shrinking exports from major producers and a global deficit of the metal. China's exports are in medium-term decline due to higher demand from its solar energy sector, while Russian supply has been crimped by falling output and Western sanctions. The flow from other big producing nations such as Vietnam, Tajikistan, and Myanmar has been disrupted by the re-routing of shipments from the Red Sea due to Houthi attacks on shipping.
Analysts estimate the market was already looking at a 10,000-ton shortfall before China's export restrictions. These new controls are not targeted at any specific country but Chinese authorities can refuse licences to export to individual end-user companies or countries as they see fit.
Other Information on Antimony:
https://www.csis.org/analysis/chinas-antimony-export-restrictions-impact-us-national-security
https://www.antimony.com/wpfd_file/i2a-china-export-restriction-press-release-20-august-2024/
Kal Malhi, CEO of Hertz Energy, commented, "With the Chinese export restrictions on Antimony soon taking effect and several active conflicts around the world, the need for antimony has sky rocketed along with the price of antimony. Antimony is used heavily in a variety of military applications, including night vision goggles, explosive formulations, flares, nuclear weapons production, and infrared sensors plus as a fire retardant, in solar panels and electric batteries. Hertz Energy's acquisition will allow the Company to focus on utilizing our current flow-thru cash position of approximately $7500,000 to aggressively explore the Harriman Antimony Project in the coming months."
HERTZ ENGAGES INVESTOR RELATIONS CONSULTANTS
Hertz Energy also reports that it has engaged the following Investor Relations Consultants.
Investing News Network
Hertz Energy announces that it has entered into an advertising and investor awareness campaign agreement with Investing News Network ("INN"). INN is a private company headquartered in Vancouver, Canada, dedicated to providing independent news and education to investors since 2007.
INN will introduce the Company to INN's audience of educated, active investors. Using a variety of methods, including an enhanced advertiser profile, news marketing, website and newsletter advertising and dedicated emails, INN will encourage its audience to engage directly with the Company to consider investing in the Company. INN does not provide Investor Relations or Marketing services. The Agreement is for three (3) months, commencing on September 4, 2024. INN will be granted 500,000 Options to purchase Hertz Energy common shares at a price of $0.085 over two years. INN can be reached at info@investingnews.com or by phone at 604-688-8231; INN is located at 736 Granville Street, Suite 1200, Vancouver, BC V6Z 1E4. INN currently holds no common shares of the Company. The Company will not issue any securities to INN as compensation for the services. INN has no direct relationship with the Company other than as set out in this news release.
Outside the Box
The Company announces that it has entered into a marketing and consulting agreement (the "OTBC Agreement") with an arm's length marketing firm, Outside The Box Capital Inc. ("OTBC") of Oakville Ontario, to provide marketing consulting and investor relations services, including marketing services through social media channels and online media distribution.
In connection with the OTBC Agreement, for a term of 1 month starting on September 4, 2024, the Company will issue OTB 500,000 options to purchase Hertz Energy shares at a price of $0.085 over two years and payments of $25,000 upon signing of agreement. OTBC has no direct relationship with the Company other than as set out in this press release.
CanaCom
Pursuant to the terms of the CanaCom Agreement, the services are to be provided over a 6-month period, commencing on September 5, 2024, for a fee of $30,000, plus applicable taxes. CanaCom is a full-service marketing agency based in Toronto, Ontario. CanaCom provides digital marketing awareness via advertising through its fully owned platform theDeepDive.ca, which includes both video and written content coverage of Canadian small-cap stories. CanaCom has its principal place of business at 1836 Scarth Street, Regina, SK S4P 3G3. CanaCom can be contacted at jay@thedeepdive.ca or by telephone at (306) 993-4791. CanaCom has no direct relationship with the Company other than as set out in this press release.
QUALIFIED PERSON STATEMENT
All scientific and technical information contained in this news release was reviewed and approved by Paul Teniere, P.Geo., Technical Advisor of Hertz Energy, who is a "Qualified Person" as defined in NI 43-101.
About the Company
The Company is a British Columbia based junior exploration company primarily engaged in the acquisition and exploration of energy metals mineral properties. The Company's lithium exploration projects include the AC/DC Lithium Project, and Snake Lithium Project in Jame Bay Québec. The AC/DC Project is 26,500 hectares located in the renowned James Bay Lithium District in Québec, Canada, just 26kms southeast of the Corvette Lithium Project owned by Patriot Battery Metals and is contiguous to Rio Tinto's Kaanaayaa project claims. The Company's Snake Lithium Project is also district scale and located amongst highly prospective projects held by other exploration companies. Hertz Energy's Harriman Antimony Project is its first Antimony property acquisition.
For further information, please contact Mr. Kal Malhi or view the Company's filings at www.sedarplus.ca.
On Behalf of the Board of Directors
Kal Malhi
Chief Executive Officer and Director
Phone: 604-805-4602
Email: kal@bullruncapital.ca
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding "Forward-Looking" Information
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Skyharbour Resources Ltd . (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) (the "Company" or "Skyharbour") is pleased to announce the appointment of Brady Rak, an investment and capital markets professional, as the Company's VP of Business Development.
Jordan Trimble, President and CEO of Skyharbour stated: "We are thrilled to have Brady join us at Skyharbour as our VP of Business Development at a pivotal time for the Company. He brings a wealth of capital markets experience to Skyharbour having worked in the investment management industry for well over a decade. With drilling underway at our core projects, and a robust and growing prospect generator business, we look forward to leveraging Brady's industry knowledge, business acumen and vast network to continue growing the Company."
About Brady Rak:
Mr. Rak is a seasoned investment professional who has focussed on the Canadian capital markets over his 13-year career at several independent broker dealers including Ventum Financial, Salman Partners and Union Securities. As a registered investment advisor in the private client division of Ventum Financial, Brady has been involved in advising high-net worth and corporate clients, structuring transactions, raising capital and navigating global market sentiment. Brady graduated from Northwood University with a BBA in Management and holds his Options license.
About Skyharbour Resources Ltd.:
Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with twenty-nine projects, ten of which are drill-ready, covering over 580,000 hectares (over 1.4 million acres) of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U 3 O 8 over 5.9 metres including 20.8% U 3 O 8 over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Uranium Project is the Russell Lake Uranium Project which hosts several high-grade uranium drill intercepts over a large property area with robust exploration upside potential. The Company is actively advancing these projects through exploration and drill programs.
Skyharbour has joint-ventures with industry-leader Orano Canada Inc., Azincourt Energy and Thunderbird Resources (previously Valor) at the Preston, East Preston and Hook Lake Projects, respectively. The Company also has several active earn-in option partners including: CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; CSE-listed Medaro Mining Corp. at the Yurchison Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; and TSX-V listed Terra Clean Energy (previously Tisdale) at the South Falcon East Project which is host to the Fraser Lakes Zone B uranium and thorium deposit. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to over $37 million in partner-funded exploration expenditures, over $30 million worth of shares being issued and over $21 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.
Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
Skyharbour's Uranium Project Map in the Athabasca Basin:
https://www.skyharbourltd.com/_resources/images/SKY_SaskProject_Locator_2024-02-14_V2.jpg
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company's website at www.skyharbourltd.com .
"Jordan Trimble"
______________________
Jordan Trimble
President and CEO
For further information contact myself or:
Nicholas Coltura or Brady Rak
ncoltura@skyharbourltd.com or brak@skyharbourltd.com
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
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 expects, are forward-looking statements, including the Private Placement. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
News Provided by GlobeNewswire via QuoteMedia
Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) ("Skyharbour" or the "Company"), is pleased to announce that its partner company, North Shore Uranium ("North Shore"), has received a Crown Land Work Authorization permit from the Saskatchewan Ministry of environment (the " Permit "). The Permit covers the Company's 55,700-hectare Falcon property (" Falcon ") at the eastern margin of the Athabasca Basin in northern Saskatchewan. North Shore may acquire an initial 80% interest in Falcon by issuing common shares having an aggregate value of CAD $1,225,000, making aggregate cash payments of $525,000 to Skyharbour, and incurring an aggregate of $3,550,000 in exploration expenditures on the property over a three-year period.
Location Map of Falcon Project:
https://skyharbourltd.com/_resources/maps/Sky-SouthFalconOption.jpg?v=0.1
Under the Permit, which expires on July 31, 2027, North Shore is authorized to conduct mineral exploration activities including prospecting and ground geophysics, trail and drill site clearing, line cutting, the drilling of up to 75 exploration drill holes and the storage of drill core. While performing the exploration activities, the North Shore is required to comply with existing regulations and the environmental conditions specified in the Permit including reclamation of exploration sites and monitoring wildlife in the area. North Shore is also committed to engaging with local communities and addressing their concerns throughout the life of the project.
As reported by North Shore on September 17, 2024, North Shore is now prioritizing uranium exploration targets for future drill programs at Falcon. The target model is near-surface basement-hosted uranium mineralization which can be associated with electromagnetic conductor systems. To date, North Shore has identified 36 uranium targets at Falcon. The targets were selected based on the analysis of multiple datasets and interpretation by Condor North Consulting ULC, Earthfield Technologies Inc., TerraLogic Exploration Inc. and North Shore. North Shore's current goal is to select the top ten sites to choose from for the next drill program.
Exploration Targets and Uranium Occurrences of Three Holes Drilled by North Shore in Early 2024:
https://www.skyharbourltd.com/_resources/maps/2024-Falcon-exploration-targets-map.png
Mr. Brooke Clements, President and CEO of North Shore stated: " After our maiden drill program at Falcon this March, we are preparing for follow-up work related to our two new uranium discoveries and to evaluating new targets. We believe that Falcon, located at the eastern margin of the prolilfic Athabasca Basin, is a great setting for a major new uranium discovery. We have multiple targets that require testing and we look forward to future exploration programs."
Falcon Uranium Project:
The Falcon Project, which constitutes part of North Shore's Falcon Property, contains eleven mineral claims comprising approximately 42,908 hectares approximately 50 km east of the Key Lake mine. Nine of the claims are from Skyharbour's original South Falcon Uranium Project and the remaining two claims are from Skyharbour's Foster River Project. Historical uranium mineralization discovered at Falcon is shallow and is hosted in several geological settings including classic Athabasca-style basement mineralization associated with well-developed EM conductors. At the EWA target, up to 0.492% U 3 O 8 and 1,300 ppm lead was encountered in outcrop grab samples (Sask. Mineral Deposits Index [SMDI] 5038). Historical grab sampling at Knob Lake (SMDI 1014) also encountered up to 0.01% U 3 O 8 in an outcrop of pegmatite, while anomalous nickel, copper, and molybdenum were found in historical grab samples from the Fraser North target area (SMDI's 1125 and 1126).
A well-defined northeast-trending, locally folded, electromagnetic conductor system runs throughout the Property, which was defined by airborne and ground geophysical surveys by JNR Resources ("JNR") in the 2000's. In 2008 JNR conducted a drill campaign at the property area. Of the 47 holes drilled that year, 28 holes (totaling 7,348 metres) were drilled on the South Falcon Uranium Property at the Walker (14 holes), Walker South (7 holes), and EWA target areas (6 holes). At the Walker and South Walker targets, which lie along the aforementioned EM conductor system, structurally disrupted and variably altered metasediments (including graphitic pelitic gneisses) with anomalous boron, copper, molybdenum, nickel, cobalt, arsenic, and vanadium were encountered in several drill holes. During this same drill campaign, the Fraser Lakes Zone B uranium deposit was discovered approximately four kilometres east of the Walker South target on a refolded extension of the EM conductor system. At the EWA target, which lies along a separate northeast-trending EM conductor, anomalous uranium, boron, lead, and molybdenum were encountered in structurally disrupted pegmatites; the best result was 0.235% U 3 O 8 over 0.5 m (within a 3.5 m interval of 0.113% U 3 O 8 ) in hole WYL-08-501 (Sask. Mineral Assessment File 74H02-0045).
Furthermore, in 2022, Skyharbour completed a FALCON® airborne gravity gradiometer and magnetic survey over nine of the eleven claims at the Falcon Property. This new geophysical data will assist North Shore in prioritizing areas along the EM conductor system for drilling. Over 30 kilometres of the EM conductor system remains untested on the Falcon Property. North Shore's initial focus will be on the two claims formerly part of the Foster Project (geophysics), and on generating drill targets on three claims at the southeastern end of the EM conductor systems including Knob Lake, which shows similarities to the Fraser Lakes Zone B deposit approximately 6 km to the northeast and several other high-priority targets elsewhere along the main EM conductor system.
Significant potential exists on the project for basement-hosted, unconformity-related uranium deposits like those further to the north in the Wollaston Domain (i.e. Eagle Point, Rabbit Lake, Key Lake and others), as well as for pegmatite/granite-hosted (i.e. alaskite-type) U-Th-REE mineralization like at the Fraser Lakes Zone B deposit on Skyharbour's adjacent South Falcon East Property, currently under option to Tisdale Clean Energy.
The Option Agreement:
North Shore may acquire an initial 80% interest in the Property by issuing common shares of the Resulting Issuer ("Shares") having an aggregate value of CAD $1,225,000; making aggregate cash payments of CAD $525,000; and incurring an aggregate of CAD $3,550,000 in exploration expenditures on the Property over a three-year period. Once North Shore has earned an initial 80% interest in the Property, North Shore may acquire the remaining 20% interest in the Property within 90 business days by issuing Shares having a value of CAD $5,000,000, and making a cash payment of CAD $5,000,000 to Skyharbour. If North Shore does not elect to acquire the remaining 20% interest, a joint venture will be formed with Skyharbour holding a 20% participating interest.
North Shore will be the operator of the exploration programs during the earn-in stage and for the joint venture if formed. Two claims totaling 10,673 hectares that form part of Skyharbour's Foster River Property are subject to a one percent (1%) NSR royalty payable to Skyharbour. The remaining nine claims totaling 32,235 hectares that comprise Skyharbour's South Falcon Point Property are subject to a two percent (2%) NSR royalty payable to Denison Mines Corp. ("Denison") with North Shore having the right to purchase one percent of the royalty from Denison at anytime by paying $1 million. All Shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
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 and approved by David Billard, P.Geo., a Consulting Geologist for Skyharbour as well as a Qualified Person.
About North Shore Uranium Ltd:
North Shore is a mineral exploration company focused on uranium exploration at the eastern margin of the Athabasca Basin through its Falcon property which will increase from 12,800 to 55,700 hectares with the addition of the claims subject to the Agreement, and the West Bear property located 90 kilometres to the northeast.
About Skyharbour Resources Ltd.:
Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with twenty-nine projects, ten of which are drill-ready, covering over 580,000 hectares (over 1.4 million acres) of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U 3 O 8 over 5.9 metres including 20.8% U 3 O 8 over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Uranium Project is Skyharbour's Russell Lake Uranium Project optioned from Rio Tinto, which hosts several high-grade uranium drill intercepts over a large property area with robust exploration upside potential. The Company is actively advancing these projects through exploration and drill programs.
Skyharbour has joint-ventures with industry-leader Orano Canada Inc., Azincourt Energy and Thunderbird Resources (previously Valor) at the Preston, East Preston and Hook Lake Projects, respectively. The Company also has several active earn-in option partners including: CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; CSE-listed Medaro Mining Corp. at the Yurchison Project; TSX-V listed North Shore Uranium at the Falcon Project; and TSX-V listed Terra Clean Energy (previously Tisdale) at the South Falcon East Project which is host to the Fraser Lakes Zone B uranium and thorium deposit. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to over $33 million in partner-funded exploration expenditures, over $27 million worth of shares being issued and over $20 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.
Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
Skyharbour's Uranium Project Map in the Athabasca Basin:
https://www.skyharbourltd.com/_resources/images/SKY_SaskProject_Locator_2024-02-14_V2.jpg
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company's website at www.skyharbourltd.com .
"Jordan Trimble"
_________________________________
Jordan Trimble
President and CEO
For further information contact myself or:
Nicholas Coltura
Investor Relations Manager
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
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 expects, are forward-looking statements, including the Private Placement. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
News Provided by GlobeNewswire via QuoteMedia
Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") is pleased to announce its 2024 drilling program at the 100% owned Aberdeen Uranium Project has concluded after thirty diamond drill holes were completed between late June and late September for a total of 6,962 metres. The program covered 5 of the more than 20 identified gravity targets on the 95,000-hectare property including the two existing discoveries at Tatiggaq and Qavvik. The Aberdeen Project is located adjacent to Orano's Kiggavik deposit which hosts 133 million pounds of uranium grading at 0.54% U3O8*. Assays are currently being processed at the SRC Geoanalytical Laboratories in Saskatoon, Saskatchewan with results expected mid to late October due to a backlog at the facility. Further to its news release dated August 20, 2024, Forum continues to intersect uranium mineralization and intense alteration within favourable structural and lithological corridors for unconformity-style uranium deposits in an emerging uranium district comparable to the prolific Athabasca Basin (Figure 1).
"Our 2024 program was highly successful. We constructed a 40-person exploration camp to stage our future exploration efforts in the Thelon Basin with the expertise of our exceptional logistics team and were able to begin drilling in late June with a focus on our Tatiggaq deposit." stated Rebecca Hunter, Vice President of Exploration," In concert with that achievement was our ability to drill four additional targets including our second discovery, Qavvik. The 2024 drilling will provide us with great knowledge to develop an even more exciting 2025 program that will include Tatiggaq and Qavvik expansion and further drilling of greenfield gravity low targets, including Loki and Ayra. The 2024 and proposed 2025 drilling at Tatiggaq and Qavvik will provide us significant data to begin the development of a preliminary resource estimate."
Thirty drill holes have been completed on the following targets:
Tatiggaq - Nineteen drill holes were completed on this large gravity anomaly of which eleven drillholes focused on follow-up drilling from the 2023 drill program where 2.25% U3O8 over 11.1 metres, 1.01% over 6.2 metres and 0.40% U3O8 over 12.8 metres were intersected. Eight drill holes tested parallel subsidiary structures within the Tatiggaq gravity anomaly.
Qavvik - Two drill holes were completed to test an interpreted controlling structure of the uranium mineralization intersected by previous Cameco drilling.
Ayra - Four drill holes were completed on this sandstone covered target for uranium mineralization at the basement/sandstone unconformity contact. Previous drilling by Cameco intersected intense alteration and elevated uranium values within the sandstone and basement rocks.
Ned - Four drill holes were completed on this sandstone covered target for uranium mineralization at the basement/sandstone unconformity contact. Two of the holes were abandoned due to drilling conditions and two holes intersected the unconformity at approximately 200 metres.
Loki - One last drill hole was completed on this sandstone covered target for uranium mineralization at the basement/sandstone unconformity contact. Two historical holes were completed in the vicinity that intersected anomalous uranium values in the sandstone and anomalous clay alteration. The unconformity contact is at approximately 130 m and the 2024 drillhole exhibited intense clay and sooty sulphide alteration in the sandstone column but was terminated prematurely due to logistical and weather considerations in late September. Casing has been left to re-enter this drillhole next drilling season and much more of this prospective anomaly requires testing
In addition, over 5,000 gravity stations were completed on the property resulting in near full ground gravity coverage of Forum's 95,519-hectare property. New favourable drill targets have been identified from the preliminary data. This survey is meaningful given that all uranium deposits on the Orano/Denison/UEC Kiggavik property were discovered within gravity low targets.
*Source: Areva Resources Canada Inc., The Kiggavik Project, Project Proposal, November 2008 and Kiggavik Popular Summary, April, 2012 submission to the Nunavut Impact Review Board.
Rebecca Hunter, Ph.D., P.Geo., Forum's Vice President of Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.
Figure 1 The Thelon Basin is a geologic analogue to the Athabasca Basin in Saskatchewan. Orano/Denison/UEC's Kiggavik, End and Andrew Lake uranium deposits host 133 million pounds of uranium grading at 0.54% U3O8 in two proposed open pits and one underground mine. Forum owns 95,519 hectares of prospective ground along the same controlling structures as at Kiggavik.
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Upcoming Marketing Events
Forum President & CEO, Richard Mazur and Dr. Rebecca Hunter, Vice President of Exploration will be attending Red Cloud's Fall Mining Showcase on October 16th and 17th in Toronto. In addition, CEO Rick Mazur will be presenting at "Commodities Global Expo" in Fort Lauderdale, Florida on October 21st and 22nd. Please see below for the registration link. The team will be presenting an update on Forum's 2024 drilling program on its high-grade uranium discovery in the Thelon Basin, Nunavut.
https://topshelf-partners.com/register/
About Forum Energy Metals
Forum Energy Metals Corp.(TSXV: FMC) (OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut.
For further information: https://www.forumenergymetals.com.
This press release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Forum's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the historical data, the work expenditure commitments; the ability to raise sufficient capital to fund future exploration or development programs; changes in economic conditions or financial markets; changes commodity prices, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or an inability to obtain permits required in connection with maintaining or advancing its exploration projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Richard J. Mazur, P.Geo.
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
Rick Mazur, P.Geo., President & CEO
mazur@forumenergymetals.com
Tel: 604-630-1585
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225199
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Tisdale Clean Energy Corp. has announced a name change to Terra Clean Energy Corp.
Shares will begin trading under the new name and with a new CUSIP number on October 3, 2024.
The symbol will remain the same.
Disclosure documents are available at www.thecse.com.
Please note that all open orders will be canceled at the end of business on October 2, 2024. Dealers are reminded to re-enter their orders.
_________________________________
Tisdale Clean Energy Corp. a annoncé un changement de nom Terra Clean Energy Corp.
Les actions commenceront à être négociées sous le nouveau nom et avec un nouveau numéro CUSIP le 3 octobre 2024
Le symbole restera le même.
Les documents d'information sont disponibles sur www.thecse.com.
Veuillez noter que toutes les commandes ouvertes seront annulées à la fin des activités le 2 octobre 2024. Les concessionnaires sont priés de saisir à nouveau leurs commandes.
| Effective Date/ Date Effective : | le 3 OCT 2024 |
| Symbol/ Symbole : | TCEC |
| New CUSIP/ Nouveau CUSIP : | 88100M 10 5 |
| New ISIN/ Nouveau ISIN : | CA 88100M 10 5 9 |
| Old/Vieux CUSIP & ISIN : | 88825J106/CA88825J1066 |
If you have any questions or require further information, please contact Listings at (416) 367-7340 or E-mail: Listings@thecse.com
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CSE:NF
OTCQX:NFUNF
Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) ("Nuclear Fuels" or the "Company") announced today the results from the on-going drilling program at the priority Kaycee In-Situ Recovery ("ISR") Uranium Project in Wyoming's Powder River Basin. Drilling results from the Spur Zone have extended uranium mineralization over 1,000 feet. Two miles to the southeast, drilling at the Saddle Zone returned results of up to 0.233% eU 3 O 8 (uranium) over 7.0 feet with a Grade Thickness ("GT") of 1.631. In the Powder River Basin ("PRB") of Wyoming potentially ISR-recoverable uranium mineralization with a GT of greater than 0.25 is considered suitable for inclusion in a potential wellfield.
Specific Highlights include:
To view project maps please visit: https://bit.ly/4ez2iQv
Greg Huffman , Chief Executive Officer, stated: "The results from this phase of drilling at the Kaycee Uranium Project are the best to date and illustrate the untapped potential of Kaycee . We continue to expand our drill program and truly believe we are in the early stages of a program that will offer up continuing positive results. Our ultimate goal remains to build a significant resource and advance the project to the point where it has the opportunity to become yet another uranium producer in the prolific and proven Powder River Basin."
Table of Significant Results from the Kaycee Uranium Project Drill Program
Drill Hole ID | Drill Hole (Feet) | From (Feet) | To (Feet) | Grade (% | Thickness (Feet) | Grade |
SPUR ZONE | ||||||
SR24_031 | 350 | 295.0 | 303.0 | 0.079 | 8.0 | 0.632 |
SR24_035 | 350 | 264.5 | 269.0 | 0.120 | 4.5 | 0.540 |
SR24_038 | 330 | 292.0 | 298.5 | 0.091 | 6.5 | 0.592 |
SR24_039 | 350 | 271.0 | 278.0 | 0.048 | 7.0 | 0.336 |
SR24_040 | 340 | 257.5 | 262.5 | 0.117 | 5.0 | 0.585 |
SR24_045 | 350 | 240.5 | 245.0 | 0.079 | 4.5 | 0.356 |
SADDLE | ||||||
SD24_088 | 310 | 218.0 | 224.0 | 0.109 | 6.0 | 0.654 |
SD24_090 | 370 | 289.0 | 294.0 | 0.190 | 5.0 | 0.950 |
SD24_093 | 310 | 224.5 | 229.0 | 0.266 | 4.5 | 1.197 |
SD24_094 | 330 | 253.0 | 256.5 | 0.127 | 3.5 | 0.445 |
SD24_095 | 400 | 337.0 | 344.0 | 0.233 | 7.0 | 1.631 |
SD24_100 | 350 | 287.5 | 300.5 | 0.089 | 13.0 | 1.157 |
Drill holes are reported that returned significant zones of uranium mineralization with >2 ft thickness at or above a grade cut-off of 0.02 per cent eU3O8 or that are relevant to exploration targeting. (1) %U 3 O 8 by Gamma logging is a measure of gamma intensity from a decay product of uranium. Gamma log assays may be in disequilibrium with ICP-MS assays. Comparisons of U 3 O 8 Gamma log and ICP-MS assays of Powder River Basin core samples indicate that U 3 O 8 Gamma is comparable to ICP-MS uranium assay in the Powder River Basin. (2) Grade Thickness, or GT, is defined as the product of the mineral grade multiplied by the thickness of the mineralization. |
The Kaycee Uranium Project drill program is designed to confirm and expand uranium mineralization associated with known historic resource areas, and test for new areas of mineralization along a 36-mile trend. Drilling continues at the Kaycee ISR Uranium Project with additional drill results pending from both the Spur and Saddle Zones. Currently, one drill rig is testing other historical resource areas beyond Spur and Saddle. Preparations are being made to initiate drilling on new high priority regional targets identified based on surface mapping and the evaluation of additional historic drill logs.
Spur Zone Drill Program, Kaycee Uranium Program
The Spur Zone drill program has extended the previously identified mineralization over 1,000 feet to the south, demonstrating the potential to significantly expand the size of historic zones of mineralization on the Kaycee Uranium Project. The extension trending towards the Saddle Zone mineralization, located approximately two miles to the southeast, provides further evidence of a potential connection between these two mineralized zones. Continued testing of this concept is a top priority for the ongoing drilling program.
In July 2024 , 30 drill holes were completed to an average depth of 366 feet and were designed to extend and infill the north-south trending mineralization identified during the initial 2024 drill program. Of the 30 holes completed, 73% (22 drill holes) returned anomalous gamma values; 6holes returned a GT of 0.25 or better, including 4 holes with a GT greater than 0.5. Highlights include Hole SR24-031 with 0.079% eU 3 O 8 over 8.0 feet, with a GT of 0.632, from a depth of 295 feet. This hole was a 400 foot step-out to the south from Hole SR24-024 which had previously been reported with a GT of 0.436 ( Nuclear Fuels NR August 29, 2024 ). Hole SR24-040 was drilled a further 400 feet to the south of Hole SR24-031 and intercepted 0.117% eU 3 O 8 over 5.0 feet, with a GT of 0.585, from a depth of 257.5 feet. The extended mineralization has been confirmed over an additional 200 feet to the south and remains open along trend.
Saddle Zone Drill Program, Kaycee Uranium Project
Drilling completed in July 2024 has confirmed and expanded the known mineralization at the Saddle Zone. Additional drilling will test for further extensions of the main trend and will follow up on newly identified anomalous mineralization encountered within deeper formations to the southwest of the main Saddle trend.
16 drill holes were completed at the Saddle Zone to an average depth of 483 feet to infill and extend historic mineralization. Of the 16 holes completed, 75% (12 holes) returned anomalous mineralization; 6 holes returned GT of 0.25 or better, including 3 with a GT in excess of 1.0. Highlights include Hole SD24-095, drilled to test the northern extension of north-south-trending mineralization which defines the eastern side of the Saddle Zone. Hole SD24-095 returned 0.233% eU 3 O 8 over 7.0 feet, with a GT of 1.631, from a depth of 337.0 feet representing the best hole drilled by Nuclear Fuels at the Kaycee Project. Hole SD24-100 was also drilled within this north-south trend and returned 0.089% eU 3 O 8 over 13.0 feet, with a GT of 1.157, from a depth of 287.5 feet. Hole SD24-093 was drilled to test the central portion of the mineralized trend identified during the Company's initial drill program and returned 0.266% eU 3 O 8 over 4.5 feet, with a GT of 1.197, from a depth of 224.5 feet.
Kaycee Uranium Project, Wyoming
The Kaycee Project in Wyoming's PRB, Nuclear Fuels' priority project, consists of over 42 square miles of mineral rights over a 36-mile mineralized trend hosting more than 110 miles of identified roll fronts. The Kaycee Project is believed to be the only project in the PRB where all three known historically productive sandstone formations (Wasatch, Fort Union, and Lance) are mineralized and potentially accessible for ISR extraction. The Kaycee Project, under Nuclear Fuels, represents the first time since the early 1980's that the entire district is controlled by one company.
In 2023, Nuclear Fuels acquired the Kaycee Project from enCore Energy Corp., which retains a back-in right for 51% of the project by paying 2.5X the exploration costs and financing the Kaycee project to production (costs recoverable from production) upon Nuclear Fuels establishing a minimum 15 million pound eU 3 O 8 43-101 compliant resource.
Wyoming is a proven and prolific uranium producer with a pro-energy government and established regulatory regime for the permitting and extraction of uranium through ISR technology. Wyoming is one of the few "Agreement States" hosting ISR uranium deposits, where the federal government and the Nuclear Regulatory Commission have ceded regulatory authority to the state government, permitting and advancing uranium projects is more efficient and streamlined as compared to most other states. Wyoming , with over 250 million pounds of historic uranium production, ranks as the state with the second most uranium production to date; most of which has been through the ISR technology since 1990; predominantly from the PBR.
Drill holes were completed by Single Water Services using a rotary drill rig. Chip samples are collected for lithological logging every five feet. Century Geophysics of Tulsa Oklahoma is contracted to conduct downhole gamma ray, resistivity, spontaneous potential, and deviation. Century Geophysics calibrates the downhole tools in the US Department of Energy uranium logging Test pits in Casper Wyoming , to ensure the accuracy of the down hole gamma ray log measurements. % eU 3 O 8 is a measure of gamma intensity from a decay product of uranium and is not a direct measurement of uranium. Numerous comparisons of eU 3 O 8 and chemical assays of PBR core samples indicate that eU 3 O 8 is a reasonable indicator of the actual uranium assay.
The technical content of this news release has been reviewed and approved by Mark Travis , CPG., a contractor to the Company, and a Qualified Person as defined in National Instrument 43-101.
About Nuclear Fuels Inc.
Nuclear Fuels Inc. is a uranium exploration company advancing early-stage, district-scale In-Situ Recovery ("ISR") amenable uranium projects towards production in the United States of America . Leveraging extensive proprietary historical databases and deep industry expertise, Nuclear Fuels is well-positioned in a sector poised for significant and sustained growth on the back of strong government support. Nuclear Fuels has consolidated the Kaycee Wyoming district under single-company control for the first time since the early 1980s. Currently executing its second drill program at the Kaycee Project, the Company aims to expand on historic resources across a 36-mile trend with over 110 miles of mapped roll-fronts defined by 3,800 drill holes. The Company's strategic relationship with enCore Energy Corp., America's Clean Energy Company™, offers a mutually beneficial "pathway to production," with enCore retaining the right to back- in to 51% ownership in the flagship Kaycee Project in Wyoming's prolific Powder River Basin.
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements relating to planned exploration programs and the results of additional exploration work in seeking to establish mineral resources as defined in NI43-101 on any of our properties. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with the completing planned exploration programs and the results of those programs; the ability to access additional capital to fund planned and future operations; regulatory risks including exploration permitting; risks associated with title to our mineral projects; the ability of the company to implement its business strategies; and other risks including risks contained in documents available for review at www.sedar.com under the Company's profile. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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SOURCE Nuclear Fuels Inc.
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Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to provide results and findings from the exploration and discovery portion of the drill program on Hook project ("Hook") in the Athabasca Basin area of northern Saskatchewan.
"These results represent an important discovery on our Hook project. While we've already made a discovery at Hook with ACKIO, this is only a small part of the broader Hook land package. The potential on the property is substantial as Hook is an extensive project, and our discovery at ACKIO, combined with our neighbour Atha Energy's discovery in their Gemini Mineralized Zone, highlights that the region has all the geological features needed to host significant uranium deposits. More importantly, we can clearly demonstrate that this area is fertile with uranium mineralization. Large-scale alteration systems are key indicators when it comes to uranium, which tends to occur in smaller deposits relative to other minerals. We're pleased to have uncovered such a large system, exhibiting all the hallmark features needed for a new high-grade Athabasca uranium discovery," commented James Sykes, CEO, President, and Director of Baselode.
Watch this video for a detailed analysis of the two follow-up target areas and a comparison of Hook alteration systems to seven Athabasca high-grade uranium deposits that have combined over 700 million pounds of uranium.
The first alteration system the Company highlights is in the HK24-016 area, measuring more than 250 metres wide by 400 metres deep, with a core of massive clay and bleached alteration styles that measure 100 metres wide by at least 200 metres deep. These core alteration styles are important as they are the same style associated with at least three basement-hosted Athabasca high-grade uranium deposits.
The second alteration system identified in the HK24-010 area is significant due to its similarly large scale, intersecting 13 meters of continuous anomalous radioactivity within pegmatite along the margin of the fluid pathway. While assays are pending, the Company is well-funded and eager to proceed with follow-up drill plans for these high-priority exploration targets.
Hook Exploration Drill Hole Highlights
HK24-016 area
Drill holes HK24-016, HK24-017, and HK24-021 to HK24-023 were collared 5.5 kilometres southwest of ACKIO (Figure 2, Figure 3). HK24-016 intersected 140 metres of massive hydrothermal clay and bleaching alteration (the "clay alteration") within a broader 370 m thick alteration corridor (Figure 4). The drill hole intersected anomalous radioactivity associated with fracture-controlled remobilized hematite alteration within the clay alteration (Figure 5).
Both HK24-017 and HK24-021 targeted the clay alteration up-dip and down-dip, with each intersecting 30 and 145 metres of clay alteration, respectively. HK24-022 was collared 100 metres southeast of HK24-016 and intersected 60 metres of clay alteration, and HK24-023 was collared 50 metres northeast and intersected 110 metres of clay alteration. Initial observations suggests follow-up drilling is required beneath HK24-021 and to the north of HK24-023.
The clay alteration encountered within these Hook drill holes (Figure 6) share numerous similarities to massive hydrothermal clay alteration systems observed in Athabasca basement-hosted, high-grade uranium systems, such as Cameco's Millennium and Eagle Point deposits, Uranium Energy Corp's Roughrider deposits, and Denison Mines' Gryphon deposit.
The upper outer halo of the clay alteration is further identified with unique limonite liesegang banding and fracture-controlled alteration, including a distinct quartz stockwork. These are also similar outer halo alteration styles that have been observed within large-scale Athabasca uranium deposits.
HK24-010 area
Drill holes HK24-009 and HK24-010 were collared 6 kilometres northeast of ACKIO (see Figure 2, Figure 7). Details of these drill holes were initially released on July 17, 2024. HK24-010 has returned the best radioactive intersection outside of Baselode's near-surface ACKIO uranium prospect with 13.2 metres of continuous anomalous radioactivity starting at 186 metres beneath the surface hosted within a pegmatite along the western margin of a 200 m-wide, structurally-controlled, hematite and bleached alteration system. The area remains open in all directions.
Drill hole samples have been sent to Saskatchewan Research Council for uranium and multi-element analysis. Results will be released after being received and reviewed by the Company.
NOTES:
About Baselode Energy Corp.
Baselode controls 100% of approximately 238,930 hectares for exploration in the Athabasca Basin area of northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.
The Company discovered the ACKIO near-surface, uranium prospect in September 2021. ACKIO measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 9 separate uranium Pods, with mineralization starting as shallow as 28 m and 32 m beneath the surface in Pods 1 and 7, respectively, and down to approximately 300 m depth beneath the surface with the bulk of mineralization occurring in the upper 120 m. ACKIO remains open at depth, and to the north, south and east.
Baselode's Athabasca 2.0 exploration thesis focuses on discovering near-surface, basement-hosted, high-grade uranium orebodies outside the Athabasca Basin. The exploration thesis is further complemented by the Company's preferred use of innovative and well-understood geophysical methods to map deep structural controls to identify shallow targets for diamond drilling.
QP Statement
The technical information contained in this news release has been reviewed and approved by Cameron MacKay, P.Geo., Vice-President, Exploration & Development for Baselode Energy Corp., who is considered to be a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
For further information, please contact:
James Sykes, CEO, President and Director
Baselode Energy Corp.
jsykes@oregroup.ca
306-221-8717
www.baselode.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release.
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Baselode Energy Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Baselode Energy Corp. Additional information identifying risks and uncertainties is contained in the Company's filings with Canadian securities regulators, which filings are available under Baselode Energy Corp. profile at www.sedarplus.ca.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
FIGURE 1 - Baselode projects location map. ACKIO uranium prospect identified with yellow circle.
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FIGURE 2 - Drill holes (HK24-009 to HK24-023) location map
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FIGURE 3 - HK24-016 target area drill holes (HK24-016, HK24-017, and HK24-021 to HK24-023) location map
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FIGURE 4 - Cross-section interpretation of large hydrothermal fluid system with core massive clay and bleaching alteration (blue)
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FIGURE 5 - Fracture-controlled, hydrothermal remobilized anomalous radioactivity, HK24-016
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FIGURE 6 - Massive clay and bleaching alteration system, HK24-021. NOTE: clay has been gouged with carbon scribe to demonstrate drill core softness
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FIGURE 7 - HK24-010 target area drill holes (HK24-009 and HK24-010) location map
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MOVIE 1 - Clay alteration and bleaching identified within drill hole HK24-021