Tisdale Clean Energy (CSE:TCEC) is a Canadian company focused on uranium exploration and development. The company is currently focused on the South Falcon East uranium project that spans over 12,000 hectares in the Athabasca Basin in Saskatchewan, Canada, and is home to the Fraser Lakes B uranium and thorium deposits.
The Athabasca Basin hosts several high-grade uranium deposits that provide over 20 percent of the world’s supply. Most of these deposits reside within the basin and are often found under deep sandstone cover.
In October 2022, Tisdale entered into an agreement with Skyharbour Resources (TSXV:SYH,OTCQX:SYHBF, FWB:SC1P) to acquire up to 75 percent interest in the South Falcon East project.
The project enjoys access to excellent infrastructure and has geological characteristics similar to several other high-grade deposits in the basin, such as the Eagle Point, Millennium, P-Patch and Roughrider. Historical exploration at the South Falcon East project, comprising 25 holes totaling 4,603 meters, discovered multiple-stacked uranium, thorium and REE mineralization at the Fraser Lakes Zone B deposit with an NI 43-101 mineral resource estimate of 6.9 million pounds (Mlbs) triuranium octoxide at 0.03 percent, and 5.3 Mlb thorium oxide at 0.023 percent. The Fraser Lakes target area has exceptional exploitation potential, including the historical resource expansion potential of the current deposit at Zone B.
From 2008 to 2011, outcrop grab samples from South Falcon East returned between 0.04 percent and 0.45 percent triuranium octoxide, and drill core samples returned mineralized sections with values from 0.01 percent to 0.55 percent triuranium octoxide.
In 2015, Skyharbour Resources drilled five holes (1,278 meters) testing various targets. Multiple intervals of uranium mineralization were intersected in several drill holes during the winter program. This mineralization is accompanied by local thorium enrichment and anomalous levels of pathfinder elements such as copper, nickel, vanadium and lead. Hole FP-15-03 returned a 3-meter interval of .08 percent triuranium octoxide, including 2 meters of .10 percent triuranium octoxide (at 295-meter depth). The best intersections occur in drill hole FP-15-05, which was drilled within the main mineralized Fraser Lakes conductive corridor. Hole FP-15-05 returned multiple mineralized intervals over a 14-meter down hole length, including 6 meters of .10 percent triuranium octoxide (including a 2-meter interval of 0.17 percent triuranium octoxide (at 135-meter depth), and a 2.5-meter interval of 0.172 percent triuranium octoxide (at 145-meter depth).
Uranium is currently in the spotlight, having crossed the US$100 per lb mark and is trading at 16-year high levels. These high uranium prices are a function of both demand and supply dynamics. From the demand perspective, there is increased focus on nuclear energy driven by global climate change mitigation efforts. On the other hand, there is a shortage of uranium supply. A US legislation that passed in December 2023 banning uranium imports from Russia also contributed to the rally. Tisdale Clean Energy offers investors an opportunity to participate in the uranium upswing and profit from higher prices.
The company benefits from the presence of senior geologist Trevor Perkins, who brings more than two decades of experience discovering large uranium deposits in the Athabasca Basin and other areas. He discovered the McArthur River North Extension zones (110 Mlbs triuranium octoxide) and the Angulari uranium deposit (20 Mlbs triuranium octoxide).
Tisdale's presence in a favorable mining jurisdiction and its drill-ready South Falcon East uranium project position it to benefit from improving uranium market fundamentals.
The South Falcon East is the company’s flagship uranium project. It spans over 12,234 hectares and is located 18 kilometers southeast of the Athabasca Basin and 55 kilometers east of the Key Lake mine. The project area enjoys excellent infrastructure, including two highways and access to electricity.
The project has geological characteristics similar to high-grade basement-hosted deposits in the Athabasca Basin, such as Millennium, Eagle Point, Roughrider and P-Patch. Historical exploration at the South Falcon East project led to the discovery of the Fraser Lakes Zone B deposit in 2008. The Zone B deposit is located within the broader 6-kilometer by 7-kilometer Fraser Lakes target area that is considered to have exceptional resource potential along strike and at depth.
The Fraser Lakes Zone B deposit comprises multiple-stacked uranium, thorium and REE mineralization with an NI 43-101 mineral resource estimate of 6.9 Mlb triuranium octoxide at 0.03, and 5.3 Mlb thorium oxide at 0.023 percent within 10.3 million tons (Mt) of material using a cut-off grade of 0.01 percent triuranium octoxide.
Tisdale intends to initiate a comprehensive initial drill program in 2024, totaling nearly 2,000 meters. The main objective of the drilling program is to validate and expand the current mineralization linked to the Fraser Lakes Zone B uranium deposit. The infill drilling aims to verify the presence and consistency of the existing mineralization, laying the groundwork for future resource updates. Additionally, the company will carry step-out drilling to enlarge the deposit’s footprint, given that the current mineralization is open in all directions.
A second priority involves initiating regional exploration by investigating potential anomalies identified in the T-Bone Lake area. Regional drilling will concentrate on uncovering additional mineralized zones and deposits within the folded structural package hosting the Fraser Lakes B deposit.
Tisdale has raised nearly C$1.9 million in private placement over two tranches (one in December 2023 and the other in February 2024). The money will be used to advance the 2024 drilling program. Management is confident of increasing the size and grade of the resource base. The project is well positioned to ride the current optimism in the sector.
Alex Klenman has over three decades of rich experience in the private and public sectors in various domains, including marketing, business development, media, finance and corporate communications. Over the last ten years, he has held senior leadership roles at Leocor Gold, Cross River Ventures, Manning Ventures and Nexus Gold. Moreover, as a consultant, he has worked with Roxgold, Forum Uranium, Midnight Sun Mining, Integra Gold and others.
C. Trevor Perkins is a geologist with over 25 years of experience planning and executing mineral exploration projects and leading exploration teams. He has worked with Rio Tinto, Cameco Corporation, and UEX Corporation. He has led teams that have made significant uranium deposit discoveries.
Brian Shin is a chartered professional accountant in British Columbia and has over 15 years of experience in various roles, including CFO, controller, consultant and auditor.
Mark Ferguson has over 25 years of experience in the trust and finance sector, and has held senior leadership roles at several public and private companies. Previously, he worked with Scotia Bank, Montreal Trust and Computershare Trust Company.
Allan Larmour has been CEO and director of several companies in the mining and technology sectors, and has been associated with Norsemont Mining and Cloud Nine Web3 Technologies. He has consulted several start-ups in various areas, including raising capital, sales and marketing.
Andrew Brown has over 12 years of experience, having served in senior roles at companies listed on TSX Venture and CSE in various sectors, including agriculture, technology, mining and resources.
This article was written in collaboration with Couloir Capital.
Tisdale Clean Energy Corp. (CSE: TCEC) is pleased to announce that the company is presenting a live virtual corporate update hosted by Red Cloud Financial Services on May 6th, 2024 at 2pm ET.
We invite our shareholders, and all interested parties to register for the webinar and participate in the live Q&A session at the end of the presentation moderated by Red Cloud.
The replay will be emailed out to all webinar registrants proceeding the event and will also be available on the Red Cloud website.
For more information and to register: https://redcloudfs.com/events/rcwebinar-tcec/.
Learn about an undervalued microcap explorer developing a near-surface uranium deposit within a larger, highly prospective exploration opportunity in the Athabasca Basin.
Commodities to be covered: Uranium
About Tisdale Clean Energy Corp.
Tisdale Clean Energy is a uranium exploration and development company developing the Fraser Lakes B Uranium Deposit within the larger South Falcon East project, Athabasca Basin, Saskatchewan.
About Red Cloud Securities Inc.
Red Cloud Securities Inc. is an IIROC-regulated investment dealer focused on providing a full range of brokerage services to all investor types focused in the junior resource sector. Our services include Investment Banking, Research, Institutional and Retail Trading, Institutional Sales, and Retail Investment Advisory services.
About Red Cloud Financial Services Inc.
Red Cloud Financial Services Inc. is a globally focused capital markets advisory firm that provides a full range of executive strategy, media, marketing, and corporate access services. Our breadth of services combines with our significant knowledge of the junior mining industry combine for unique product offering. The company was founded by capital markets professionals with extensive experience in the junior mining industry.
For further information:
Tisdale Clean Energy Corp.
Alex Klenman, CEO
6049704330
aklenman@tisdalecleanenergy.com
For additional information contact marketing@redcloudfs.com or visit:
www.redcloudfs.com
www.facebook.com/RedCloudFinancialServices
www.twitter.com/RedCloudFS
www.linkedin.com/company/red-cloud-financial-services-inc
www.youtube.com/c/RedCloudFinancialServicesInc
www.instagram.com/redcloudfs
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Tisdale Clean Energy Corp. ("Tisdale" or the "Company") (CSE:TCEC ) ( OTC:TCEFF ) ( FSE:T1KC), is pleased to invite investors and other interested parties to attend an upcoming interview with Market Radius Research
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Tisdale Clean Energy Corp. (the " Company " or " Tisdale ") (CSE:TCEC ) ( OTC:TCEFF ) ( FSE:T1KC ) is pleased to announce that it has closed a further non-brokered private placement (the " Offering ") and has issued 2,179,500 units (each, a " Unit ") at a price of $0.18 per Unit for gross proceeds of $392,310. Each "Unit" issued in the Offering consists of one common share of the Company and one share purchase warrant exercisable at a price of $0.30 until February 29, 2026
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Tisdale Clean Energy Corp. (" Tisdale " or the " Company ") (TSXV:TCEC ) ( OTC: TCEFF ) ( FSE: T1KC ) is pleased to confirm its upcoming work program at the South Falcon East Uranium Project which hosts the Fraser Lakes B uranium deposit. The south Falcon East Project lies 18 km outside the edge of the Athabasca Basin, approximately 50 km east of the Key Lake uranium mill and former mine
Tisdale Clean Energy Corp entered into an option agreement with SkyHarbour Resources Ltd in October of 2022 whereby the company can earn up to a 75% interest in the South Falcon East property.
The Company is set to begin a preliminary phase one drill program for late winter 2024. The initial phase one program will consist of up to approximately 1,500 meters of drilling. The priority will be to confirm and expand the existing mineralization associated with the Fraser Lakes B Uranium Deposit (Figure 2). Infill drilling will confirm the presence and continuity of existing mineralization in preparation for a current updated resource estimate and 3D model in the future. Step out drilling will endeavor to expand the footprint of the deposit, as the current mineralization is open in all directions. Initial focus will be in extending mineralization along strike and down dip into the basement.
A secondary priority will be to begin regional exploration by following up promising anomalies located in the T-Bone Lake area (Figure 2). Regional drilling will focus on the effort to add additional mineralized zones and deposits along the folded structural package that hosts the Fraser Lakes B Deposit.
"The commencement of drilling is a milestone in terms of our ability to unlock the value contained at South Falcon," said Alex Klenman, CEO. "Right now, nobody is getting much credit for those pounds in the ground. This will begin to change as we drill and earn our interest in the project. The initial phase one plan allows us to meet the early obligations of the earn-in with Skyharbour. We are hopeful our valuation will grow as a result, therefore reducing the barrier to entry for institutional support and giving us the opportunity to implement larger drill programs moving forward through 2024 and beyond.
"We believe very strongly that both the size and average grade of the resource can be increased. The last holes drilled in 2015 generated U308 values of .172% and .165% over intervals of two meters or more. These results established that higher grade uranium exists within the deposit. We have a very compelling exploration narrative, and one we feel confident in pursuing. No doubt the first steps are the hardest, and we're pleased we're able to begin to execute on the plan," continued Mr. Klenman.
"We are thrilled to have Tisdale commence their inaugural drill program at South Falcon East," said Jordan Trimble, CEO of Skyharbour Resources. "The project is an advanced-stage exploration asset that hosts a near-surface uranium resource with strong expansion potential as well as robust discovery upside potential regionally on the property. We are confident that this winter drill program will unlock further value for both companies' shareholders with the uranium price trading near sixteen-year highs," continued Mr. Trimble.
The field program is anticipated to commence in late February and will be executed by Terralogic Exploration Inc. under the supervision of Laura Tennent, Project Manager with TerraLogic Exploration, and C. Trevor Perkins, consulting geologist for Tisdale. The drill program will be operating out of Skyharbour's McGowan Lake Camp with helicopter support for the daily drilling operations. The expected budget for the initial phase one program is anticipated to be $1.25 million.
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Figure 1: South Falcon East Project Location – Eastern Athabasca Basin, Saskatchewan, Canada
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Figure 2: 2024 Drill Target areas at the south Falcon East Uranium Project
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Figure 3: South Falcon East Project – Camp and drilling location Map
About the South Falcon East Project
The South Falcon East Project is a uranium exploration project in the southeast Athabasca Basin and represents a portion of Skyharbour Resources Ltd.'s existing South Falcon Project. The project covers approximately 12,464 hectares and lies 18 kilometers outside the Athabasca Basin, approximately 50 kilometers east of the Key Lake Mine.
The South Falcon East Project contains the Fraser Lakes B Uranium/Thorium Deposit with a historic mineral resource* of 6.9 Mlbs U3O8 inferred at a grade of 0.03% U3O8 and 5.3 Mlbs ThO2 inferred at a grade of 0.023 % ThO2. Uranium and thorium mineralization discovered to date is shallow classic Athabasca-style basement mineralization associated with well-developed EM conductors.
About Tisdale Clean Energy Corp.
Tisdale Clean Energy 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 uranium/thorium deposit, located in the Athabasca Basin region, Saskatchewan, Canada.
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 on behalf of the company by C. Trevor Perkins, P.Geo., a Consulting Geologist for the Company, 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 sedar.com 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.
ON BEHALF OF THE BOARD OF TISDALE CLEAN ENERGY CORP.
"Alex Klenman"
Alex Klenman, 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.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.
For further information please contact:
Alex Klenman, CEO
Tel: 604-970-4330
Tisdale Clean Energy Corp
Suite 2200, HSBC Building, 885 West Georgia St.
Vancouver, BC V6C 3E8 Canada
www.tisdalecleanenergy.com
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HIGHLIGHTS
The Northern application sits to the north of the Ulytau Uranium project tenement and immediately North of the historic Bota Burum Uranium mine. The Northern licence application area is ~39 km2.
The northern tenement is interpreted as having a similar mineralised trend to that of the existing Ulytau Project area1.
C29 Metals Managing Director, Mr Shannon Green, commented:
“Another very exciting step in executing our stated strategic plan for rapid growth with this highly prospective application being granted in such a rapid timeframe. Continuing to demonstrate the positive operating environment in Kazakhstan and the support the Company is receiving”.
Figure 1 below shows the interpreted mineralised uranium trend with the newly granted tenement.
Figure 1 – The interpreted mineralised Uranium trend with the new granted tenement.
Project Location and History
The Ulytau Uranium Project is located in the Almaty Region of Southern Kazakhstan approximately 15 km southwest of the Bota-Burum mine, one of the largest uranium deposits mined in the former Soviet Union. Exploration for uranium has been carried out in the area since 1953. Production of Uranium at the Bota Burum mine next to the village of Aksuyek commenced in 1956 and continued until 19912.
Total mined reserves of Bota Burum are quoted at 20,000 tonnes of Uranium (44 million pounds)2,3.
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This article includes content from C29 Metals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Highlights
Operations
Construction
Boss Managing Director Duncan Craib said: “We continue to meet or exceed all of our key targets and are comfortably on track to meet our production guidance.
“The first IX circuit is now operating at nameplate capacity, proving that the technology works at the rate and scale forecast in the Feasibility Study. This is a pivotal point in the project’s development. “Commissioning of the second IX circuit is underway and construction of the third is advancing rapidly.
“Supplies of the pregnant leach solution, grades and extraction rates are meeting or exceeding our targets and overall uranium production rates are rising in line with the schedules in the Feasibility Study”.
Honeymoon Production Results for months of July and August 2024
On 22 April 2024, the Company was pleased to announce a major milestone with production of the first drum of uranium at its 100 per cent-owned Honeymoon Uranium Project in South Australia.
As expected, and in-line with Feasibility Study forecasts, Honeymoon’s production continues to increase as set out in the results for the combined months of July and August 2024.
In August 2024, NIMCIX column 1 achieved nameplate production.
Bringing each new NIMCIX production column online will result in a proportional increase in production and lower the cost per pound produced.
Table 1: Operational physicals for the June 2024 Quarter and combined July and August 2024
Notes: (1) Conversions: There are 1,000 litres per m3 and 0.0000022 lbs per mg. (2) The weighted average is calculated based on total flow for the quarter.
Plant recovery continues to improve with production optimisation. The variance between IX Production and U308 drummed is due to a build-up of inventory in circuit as well as losses from the circuit. During commissioning and ramp up, losses from the precipitation and dewatering circuits were higher than design which has been a focus for the operations team over the previous month. Losses have been reduced to circa 3.5% in August as improvements were, and continue to be, implemented.
It is important to note that while the tenors being achieved from initial wellfields exceed the average LOM tenors forecast in the Feasibility Study1, the project is still in the ramp-up phase and therefore these tenors should not be extrapolated across the LOM. Boss’ production guidance remains based on the forecast tenors contained in the Feasibility Study.
Given the time taken to ramp-up wellfields in ISR projects, preliminary cost updates will be provided once columns 2 and 3 are commissioned.
Since acquiring Honeymoon in December 2015, Boss has invested significant time and capital in making technical improvements to the project. Boss has now been able demonstrate that the first NIMCIX column can operate at nameplate uranium production which adds confidence that the Company will meet its FY25 production target of 850,000 lbs of U308 as set out in Feasibility Study.
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Highlights:
Moab Managing Director, Mr Malcolm Day, commented: “I visited the Manyoni Uranium Project last week and am excited to report that drilling has started. The Company only settled the transaction on 9th July and in less than two months has been able to ‘hit the ground running’. The drilling program is expected to run over the next few months with most of the assay results available in November/December. I look forward to updating shareholders in coming months in regard the advancement of the Manyoni Uranium Project”.
About the Manyoni Uranium Project
Tanzania Uranium Projects (Moab 94.00%)
On 12 March 2024, the Company announced the acquisition of a package of advanced uranium projects in Tanzania (refer ASX Announcement 12 March 2024) (Acquisition). The Company completed the Acquisition on 9 July 2024.
The Acquisition includes the Manyoni and Octavo Uranium Projects, covering a total of 216 km2. The projects are strategically located just 5km north of Manyoni town, the Manyoni Uranium Project enjoys convenient access to modern railway and sealed highway infrastructure as well as readily available power and water resources.
The Manyoni Uranium Project was previously explored, and extensively drilled, by Uranex Ltd from the early 2000’s until 2013.
Project Location
The Manyoni Uranium Project tenements are located in the Republic of Tanzania (pop. 65 million), Africa, approximately 100km northwest of the capital city of Dodoma (pop. 765,000). The location of the uranium project at Manyoni is shown in Figure 1 and Figure 2.
Core drilling underway at Manyoni uranium project
Figure 1. Location of the Manyoni Uranium Project
Figure 2. Location of Manyoni Tenements
Geological Setting and Uranium Mineralisation
The tenements are located in the central part of the Tanzanian Archaean Shield, which is a stable platform of granite-gneiss terrane with marginal greenstone belts. Radiometrically “hot” granites have been subject to erosion over geological time and have contributed uranium and other metals into the pluvial streams and lakes which drain the shield.
In the Manyoni area the uranium is deposited in a shallow playa lake system as schröckingerite (in the lake sediments) and carnotite in the granitic saprolite below the lake sediments. The mineralisation varies from flat lying to shallowly dipping as it follows the direction of the palaeo- drainage to the south-east while the average depth to the top of mineralisation varies from 3m to 10m.
Validation Drilling (Stage One Drilling)
Moab has completed a substantial review of historic databases that were acquired from the property vendors. Moab has appointed Resource specialists Datamine/Optiro to assist the Company with planning a program of Validation drilling designed to verify historical drill results. A program of 60 drill holes involving PQ Triple Tube core drilling adjacent to old drill holes that contained uranium mineralisation is planned to commence in the 1st Quarter FY2024/2025. The objectives of the program include:
It is estimated that this initial program will be completed in 2nd Quarter FY2024/2025. On completion of the Validation drilling program the information will be used to update the wire-frame model for mineralized domains thereby facilitating resource estimation, depending on results.
Exploration Drilling (Stage Two Drilling)
In addition to the above drilling, Moab is planning to undertake an exploration drilling program that is designed to locate extensions to the known mineralisation at Manyoni. This will be based on grid drilling on a 400m x 400m and 200m x 200m pattern around the known mineralisation. The Manyoni uranium mineralisation is at shallow depth, varying from 3m to 15m to the top of mineralisation, and flat lying. Moab has executed a drilling contract for a minimum of 1500m of PQTT core drilling covering Stages one and two drilling, with the option to drill an additional 1500m.
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This article includes content from MOAB Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Highlights:
Laramide Resources Ltd. ("Laramide" or the "Company") (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF), a uranium mine development and exploration company with globally significant assets in the United States and Australia is pleased to announce the first assay results from the 2024 drilling activities at the Westmoreland Uranium Project in Queensland, Australia ("Westmoreland").
As reported on June 20, 2024 1 , this season's exploration drilling campaign at Westmoreland commenced at the Amphitheatre prospect approximately 16km northeast of the Junnagunna deposit, a deposit which is included in the 2016 PEA study 2 . Assays have been received from the first two holes drilled and include zones of shallow, high-grade uranium mineralisation including 4.0m @ 0.52% U 3 O 8 (and including within 1.0m @ 1.00% U 3 O 8 ) within a broader zone of 11.3m @ 0.23% U 3 O 8.
Furthermore, there is gold mineralisation associated with the system, including 2.90m @1.52 g/t Au from 39.1m (AMD009).
Commenting on the exploration results, Laramide's Vice-President of Exploration Rhys Davies said:
"The Westmoreland Uranium Project is a premier high-quality uranium asset with enviable characteristics including shallow depth, good grade, simple metallurgy and growth potential. The high-grade uranium intercepts that are being found at shallow depths at the Amphitheatre prospect, which is still at an early exploration stage, are very promising. Importantly, the tenor of the grades seen at Amphitheatre highlight the significant prospectivity of the broader district of Westmoreland and supports Laramide's focused attention on proving out the expansion potential towards increasing the mineable resources and improving the economics of a future mine. We look forward to updating investors as more assay results are received over the coming weeks and months."
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1 Laramide Commences 2024 Australian Drilling Campaign (Press Release dated June 20, 2024) |
2 Westmoreland Uranium Project Technical Report https://laramide.com/projects/westmoreland-uranium-project/ |
Amphitheatre Uranium Prospect
The Amphitheatre uranium prospect is located 16km northeast of the Junnagunna uranium deposit and expresses as a strong 400m x 300m airborne radiometric anomaly. The area was subject to historical exploration in the late 1960s and early 1970s 3 with Laramide rediscovering its potential in the 2022 and 2023 drill programs.
Drilling in 2024 comprised 5 diamond holes ( 932.7m ), which targeted extensions to uranium mineralisation both laterally and down dip and successfully identified new zones for follow up. Initial composite downhole assay results from AMD009 include 4.0m @ 0.52% U 3 O 8 (including within 1.0m @ 1.00% U 3 O 8 ) within a broader zone of 11.30m @ 0.23% U 3 O 8 from 38m downhole (Table 2).
The Amphitheatre Prospect geology consists of the Cliffdale Volcanics and Westmorland Conglomerate and is predominantly situated within a stratigraphic basal pebble conglomerate (Ptw1). An interpreted north-south trending fault bounds stratigraphy to the east with a massive, medium sandstone and scattered quartz pebbles (Ptw2). Mineralisation is interpreted to be structurally and stratigraphically controlled, displaying an eastern downthrow with no apparent lateral movement (Ptw2 expressing to the east and Ptw1 to the west). Drilling in 2022 and 2023 indicated extensive remobilisation had occurred with secondary mineralisation (observed as carnotite, autunite, torbernite) 4 to the west of the north-south fault, whereas mineralisation to the east of the fault comprises of both primary and secondary mineralisation.
AMD009 intersected high-grade uranium mineralisation predominately observed as disseminated uraninite and torbernite within fracture fill and is variably associated with hematite alteration and silicification. A network of quartz veining with epithermal textures is also noted in zones which have returned substantial Au results.
AMD009 is the first hole to have successfully intersected an apparent feeder mafic dyke system at approximately 190m downhole. This dyke is considered a key driver for mineralisation.
Initial interpretation suggests that mineralisation may continue to the north but under alluvial cover, which obscures any surface radiometric response. Follow up holes to test this region are being planned for the end of the 2024 drilling campaign.
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3 Page 6.2 - Westmoreland Uranium Project Technical Report https://laramide.com/projects/westmoreland-uranium-project/ |
Table 1: Drill Collar Details | ||||||||||
Prospect | Hole ID | GDA_Easting | GDA_Northing | RL (m) | Depth (m) | Grid Azi | Dip | Hole type | Drilling started | Drilling completed |
AMPHITHEATRE | AMD008 | 209879 | 8074908 | 93 | 241.6 | 90 | -60 | DD | 01/07/2024 | 09/07/2024 |
AMPHITHEATRE | AMD009 | 209928 | 8074816 | 90 | 202.9 | 270 | -80 | DD | 10/07/2024 | 15/07/2024 |
AMPHITHEATRE | AMD010 | 209954 | 8074725 | 90 | 203.4 | 90 | -60 | DD | 15/07/2024 | 26/07/2024 |
AMPHITHEATRE | AMD011 | 209958 | 8074620 | 99 | 200.3 | 90 | -60 | DD | 26/07/2024 | 02/08/2024 |
AMPHITHEATRE | AMD012 | 209928 | 8074820 | 90 | 84.5 | 90 | -55 | DD | 03/08/2024 | 05/08/2024 |
Table 2: Significant intercepts >100ppm U 3 O 8 | |||||
Hole | From | To | Length | U 3 O 8 ppm | Au g/t |
AMD008 | 29.00 | 30.00 | 1.00 | 148.58 | 0.01 |
AMD008 | 56.00 | 58.00 | 2.00 | 305.41 | 0.03 |
AMD008 | 63.00 | 64.00 | 1.00 | 155.65 | 0.01 |
AMD008 | 70.00 | 71.00 | 1.00 | 298.34 | 0.04 |
AMD008 | 74.00 | 75.00 | 1.00 | 170.98 | 0.01 |
AMD008 | 84.00 | 85.00 | 1.00 | 146.81 | 0.02 |
AMD008 | 96.00 | 101.00 | 5.00 | 142.21 | 0.01 |
AMD008 | 143.00 | 144.00 | 1.00 | 474.04 | 0.02 |
AMD008 | 150.00 | 160.00 | 10.00 | 260.10 | 0.01 |
AMD008 | 165.00 | 167.00 | 2.00 | 124.41 | 0.01 |
AMD008 | 171.00 | 172.00 | 1.00 | 123.82 | 0.01 |
AMD008 | 173.00 | 174.00 | 1.00 | 104.24 | 0.01 |
AMD008 | 232.00 | 233.00 | 1.00 | 116.86 | 0.01 |
AMD009 | 20.00 | 21.00 | 1.00 | 112.02 | 0.01 |
AMD009 | 36.70 | 48.00 | 11.30 | 2274.26 | 0.46 |
Including* | 38.00 | 42.00 | 4.00 | 5230.49 | 1.12 |
Which | 40.00 | 41.00 | 1.00 | 9960.00 | 2.10 |
And* | 46.70 | 48.00 | 1.30 | 2334.82 | 0.05 |
AMD009 | 52.00 | 54.00 | 2.00 | 171.43 | 0.03 |
AMD009 | 69.00 | 71.00 | 2.00 | 267.97 | 0.09 |
AMD009 | 137.00 | 138.00 | 1.00 | 106.72 | 0.01 |
AMD009 | 141.00 | 142.00 | 1.00 | 209.90 | 0.01 |
*included intercepts are above >1000 ppm U 3 O 8 . | |||||
The 2024 Westmoreland drilling campaign is continuing with two rigs currently operating at the Junnagunna and Huarabagoo deposits.
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5 Westmoreland Mineral Resource Estimates include an Indicated Mineral Resource totalling 36.0 million pounds of uranium contained in 18.7 million tonnes at an average grade of 0.089% U 3 O 8 and an Inferred Mineral Resource totalling 15.9 million pounds of uranium contained in 9.0 million tonnes at an average grade of 0.083% U 3 O 8 |
6 The May 2009 Mineral Resource Estimates for Westmoreland has been reviewed to ensure compliance with JORC 2012 and is restated as the 2016 Mineral Resource. All material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. |
Qualified/Competent Person
The information in this announcement relating to Exploration Results is based on information compiled or reviewed by Mr. Rhys Davies , a contractor to the Company. Mr. Davies is a Member of The Australasian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves', and is a Qualified Person under the guidelines of the National Instrument 43-101. Mr. Davies consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. All material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed pursuant to Listing Rule 5.23.
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About Laramide Resources Ltd.:
Laramide is focused on exploring and developing high-quality uranium assets in Australia and the western United States . The company's portfolio comprises predominantly advanced uranium projects in districts with historical production or superior geological prospectivity. The assets have been carefully chosen for their size, production potential, and the two large projects are considered to be late-stage, low-technical risk projects.
The Westmoreland project in Queensland, Australia , is one of the largest uranium development assets held by a junior mining company. This project has a PEA that describes an economically robust, open-pit mining project with a mine life of 13 years. Additionally, the adjacent Murphy Project in the Northern Territory of Australia is a greenfield asset that Laramide strategically acquired to control the majority of the mineralized system along the Westmoreland trend.
In the United States , Laramide's assets include the NRC licensed Crownpoint-Churchrock Uranium Project. An NI 43-101 PEA study completed in 2023 has described an in-situ recovery ("ISR") production methodology. The Company also owns the La Jara Mesa project in the historic Grants mining district of New Mexico and an underground project, called La Sal, in Lisbon Valley, Utah.
This press release contains forward-looking statements. The actual results could differ materially from a conclusion, forecast or projection in the forward-looking information. Certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information.
SOURCE Laramide Resources Ltd.
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AuKing Mining (ASX:AKN) is an exploration and development company with a portfolio focused on uranium, copper and critical minerals in Western Australia, Tanzania and British Columbia, Canada. AuKing Mining aims to become a mid-tier producer with assets including the Koongie Park copper-zinc project in Western Australia, the Mkuju uranium project in Tanzania, and the recently acquired Myoff Creek niobium-REE project in British Columbia, Canada.
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