The Conversation (0)
Terra Clean Energy CORP. ("Terra" or the "Company") (CSE: TCEC,OTC:TCEFF, OTCQB: TCEFF, FSE: C9O0) is pleased to announce that it has acquired by low-cost staking 2,068 acres of new prospective uranium exploration claims on 100 unpatented Bureau of Land Management ("BLM") claims as well as the acquisition of three strategic Wyoming State Leases covering 1,327 acres of land. The state leases and the newly staked claims, which are 100% owned by the Company, add 3,395 acres to Terra's growing uranium exploration portfolio.
"We are extremely excited to add this highly prospective land in Wyoming in close proximity to enCore Energy Corp Juniper Ridge uranium deposit" said Greg Cameron CEO. "The newly acquired lands are in a known uranium jurisdiction and have numerous uranium occurrences with the highest occurrence recorded at .375% U3O8 "
Figure 1: Location overview of new claims in southern Wyoming
List of New Claims:
The Company directly staked 100 unpatented BLM Lode Mining Claims (being Wyoming BLM Claim Numbers WY106774346 - WY106774445).
The Company also acquired 3 Wyoming State Lease (being Lease Numbers 0-43951, 0-43952 and 0-43953). To acquire these leases, the Company is required to make cash payments totaling US$45,000 (with US$10,000 to be paid within five (5) business days, US$15,000 to be paid on or before December 1, 2026 and US$20,000 on before December 1, 2027). In addition, the Company is required to make the state maintenance fees while it is making the cash payments to acquire the leases.
The acquired ground is located along the south flank of the Washakie Basin. The Washakie Basin is a large syncline that forms a topographic plateau south of Interstate 80 and west of State Highway 789 within the greater Green River Basin in Wyoming. The Washakie Basin is a Structural low where sedimentary rocks accumulated and hosts uranium mineralization relevant to mining projects.
Figure 2: Washakie Basin showing new claims and state leases on the south flank. Baggs, Wyoming is located in the southeast corner of the map.
The area is underlain by the Miocene aged Browns Park Formation, consisting of light gray to buff tuffaceous sandstones, sandy tuffs, conglomerates and quartzite. The Browns Park Formation has long been recognized as favorable for sandstone hosted roll-front style uranium deposits. Conventional mining has previously been undertaken 75 km to the east of the project area, in the Poison Basin area, west of the town of Baggs, Wyoming where a 6.13 M lb U3O8 deposit is located. Approximately 145 Kms South of the newly acquired properties in Meeker, Colorado Homeland Uranium Corp. is developing their Coyote Basin Uranium Project which contains a significant historical resource.
The staked ground covers two historical uranium occurrences which occur in limonite altered fractured sandstone. Uranium mineralization was not visible, however samples from prospecting pits returned grades of 0.375%, 0.083%, and 0.058% U3O8.(Morris and Stanley, 1982) It does not appear that much work has been undertaken in the area since the mid 1980's.
Figure 3: Topographic geological map showing staked claims in red and state leases in blue. Light brown is the Browns Park Formation with red dots showing identified uranium occurrences.
"We are excited to add ground in Wyoming to our portfolio of uranium properties", commented Trevor Perkins, VP of Exploration for Terra. "The Browns Park Formation is a known host of roll-front sandstone uranium deposits with historical production. We are eager to see where the uranium occurrences we staked may lead us," continued Mr. Perkins.
About Terra Clean Energy Corp.
Terra Clean Energy Corp. is a Canadian-based uranium exploration and development company. The Company is currently developing the South Falcon East uranium project, which holds a 6.96M pound inferred uranium resource* within the Fraser Lakes B Deposit, located in the Athabasca Basin region, Saskatchewan, Canada as well as past producing uranium mines in Utah and uranium exploration properties in Wyoming, United States.
ON BEHALF OF THE BOARD OF Terra Clean Energy CORP.
"Greg Cameron"
Greg Cameron, CEO
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, reviewed and approved on behalf of the company by C. Trevor Perkins, P.Geo., the Company's Vice President, Exploration, and a Qualified Person as defined by National Instrument 43-101.
*The historical resource is described in the Technical Report on the South Falcon East Property, filed on sedarplus.ca on February 9, 2023. The Company is not treating the resource as current and has not completed sufficient work to classify the resource as a current mineral resource. While the Company is not treating the historical resource as current, it does believe the work conducted is reliable and the information may be of assistance to readers.
Morris, A.V., and Stanley, D.R., 1982, National Uranium Resource Evaluation, Rock Springs quadrangle, Wyoming and Colorado: Morris & Warchola, Casper, Wyo., U.S. Department of Energy, Grand Junction, Colo., PGJ/F-080(82), 42 p.
Forward-Looking Information
This news release contains certain statements that may be deemed "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. Forward-looking statements may include, without limitation, statements relating to the Company's planned exploration activities on properties and the potential development of mineral resources and mineral reserves which may or may not 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, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to: competition within the industry; actual results of current exploration activities; environmental risks; changes in project parameters as plans continue to be refined; future price of commodities; failure of equipment or processes to operate as anticipated; accidents, and other risks of the mining industry; delays in obtaining approvals or financing; risks related to indebtedness and the service of such indebtedness; as well as those factors, risks and uncertainties identified and reported in the Company's public filings under the Company's SEDAR+ profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For further information please contact:
Greg Cameron, CEO
info@tcec.energy
416-277-6174
Terra Clean Energy Corp
1133 Melville Street, Suite 2700
Vancouver, BC V6E 4E5
www.tcec.energy
