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
News Provided by Newsfile via QuoteMedia
(TheNewswire)
 | |||||||||
 |  |  |  | ||||||
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
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
| |||||||||
| | | | ||||||
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
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
| |||||||||
| | | | ||||||
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.
Click Image To View Full Size
Figure 1: South Falcon East Project Location – Eastern Athabasca Basin, Saskatchewan, Canada
Click Image To View Full Size
Figure 2: 2024 Drill Target areas at the south Falcon East Uranium Project
Click Image To View Full Size
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
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
FN Media Group News Commentary - Uranium markets are seen to be significantly growing by most experts, for years to come. One such expert, Statista, said : "In line with the rise of nuclear energy since the 1950's, uranium has become a pivotal commodity. This is especially true for countries that are highly dependent on nuclear energy to fulfill their domestic energy needs. Kazakhstan is the largest single producer of uranium in the world by a significant margin. Other top uranium producers include Canada, Namibia, and Australia. The world's largest uranium producing mine is Cigar Lake in Canada. The leading consumers of uranium worldwide are the countries with the highest share of nuclear energy: the United States, China, and France. The U.S. used nearly 18,050 metric tons of uranium in 2022. That was more than twice as much as France, which ranked third. Although there are global tendencies towards alternative energies, the worldwide nuclear energy consumption has remained consistent over the past decade. This suggests that uranium will likely continue to be an important commodity for decades to come. And another industry watcher Sprott added : "Geopolitical tensions and supply uncertainties persist, influencing uranium supply dynamics. Despite these challenges, global demand remains robust, driven by nuclear reactor restarts and new builds, supporting a sustained bullish outlook for uranium." Active mining companies in the markets this week include Stallion Uranium Corp. (OTCQB: STLNF) (TSX-V: STUD), Mustang Energy Corp . (CSE: MEC), NexGen Energy Ltd. (NYSE: NXE), CanAlaska Uranium Ltd. (OTCQX: CVVUF) (TSX-V: CVV), FISSION URANIUM CORP. (OTCQX: FCUUF) (TSX: FCU).
Sprott continued: "After a landmark year for uranium markets in 2023, 2024 has been an important step forward… On the commodity front, multiple factors are at play. The uranium bull market is still well underway. The uranium spot price increased 88.54% last year, with the majority of this occurring in a rapid, almost straight upward movement during the latter half of the year. As such, we believe a natural correction within the broader context of a bullish market cycle is a healthy sign of a functioning market… fundamentals continue to strengthen with nuclear power plant restarts, new builds and a deepening supply deficit. Notably, the spot market may have paused, but the increasingly positive fundamental picture has played out differently for both the term market and uranium miners."
Stallion Uranium ($STUD.V $STLNF) Outlines 9 High Priority Targets in Prolific Southwestern Athabasca Basin - Stallion Uranium Corp. (TSX-V: STUD) (OTCQB: STLNF) (FSE: HM40) is pleased to provide an exploration update outlining 9 high priority target areas discovered across its land package in the prolific Southwestern Athabasca Basin. The targets highlighted are the compilation of all available data from survey's completed by the company that have allowed for the identification of previously unknown high priority targets. The company is continuing to undertake survey programs that will work to further upgrade these target areas and help prioritize them for advanced exploration and drill testing.
Key Exploration Highlights:
"Stallion's vision to discover the next significant uranium deposit in the Athabasca Basin is well underway," said CEO Drew Zimmerman "We acquired over 3,000 sq/km of highly prospective, yet vastly underexplored ground in the southwestern basin that borders industry majors like Cameco, Orano, Uranium Energy Company, NexGen Energy, and Fission Uranium. With the utilization of the latest exploration technology, we have transformed our ground from an unknown expanse into a land package that hosts not one, two or three areas with the potential for a world class deposit, but the nine being highlighted today!"
Overview - Stallion has covered every square kilometre of their land package with regional airborne surveys to uncover the most prospective conductive corridors. These conductive corridors are the "plumbing" network for uranium deposits that are detectable through airborne surveys in the Athabasca Basin. The company has continued their survey work, continuing to layer on more new data, which has allowed the company to highlight 9 tier one target areas that hold significant potential for discovery.
At the beginning of this year Stallion took huge strides, moving from early-stage exploration to the advanced stage with its maiden drill program. As the company implemented its exploration funnel, the Appaloosa target moved to the top of the list for drill testing, yielding great initial success in completing its objectives. The technical success that came from the first target has bolstered the company's confidence. With 8 additional tier one targets moving through the exploration funnel Stallion's opportunity, and probability, of making a significant uranium discovery continue to grow. CONTINUED … Read these full press releases and more news for Stallion Uranium at: https://stallionuranium.com/news/press-releases/
Other recent developments in the mining industry of note include:
Mustang Energy Corp . (CSE: MEC) on Sept. 6, 2024, entered into a binding purchase and sale agreement with two private arm's-length parties, Proton Uranium Ltd. and Electron Uranium Ltd. Pursuant to the purchase agreement, the company will acquire a 100-per-cent undivided interest in seven mineral claims, covering a total of 25,000 hectares, located in the Cluff Lake region of the Athabasca basin of Saskatchewan. Closing of the transaction remains subject to, without limitation, receiving all necessary consents and approvals, including the approval of the Canadian Securities Exchange, as well as satisfaction of customary closing conditions. Mustang expects to complete the transaction by Sept. 15, 2024.
About the Mineral property in the Cluff Lake region of the Athabasca basin - The 100-per-cent acquisition from Proton and Electron marks an exciting milestone in the Cluff Lake region of the Athabasca basin, with the newly secured land package spanning over 25,000 hectares (250 square kilometres). This prime positioning highlights the potential of the Cluff Lake properties, nestled within one of the world's most prolific uranium-producing areas. The extensive land package underscores the exploration potential and the opportunity to tap into high-grade uranium resources in a region renowned for its rich deposits.
NexGen Energy Ltd. (NYSE: NXE) recently announced the mineralized zone at Patterson Corridor East (PCE) has materially expanded since the original discovery in the 2024 Winter Program (see NexGen News Release dated March 11, 2024). The Summer Drill Program commenced May 21st, with eight (8) out of twelve (12) drillholes intersecting mineralization to date (Figures 1 and 2, Table 1). Extensive mineralization plunges to the east with a span of 540 malong strike and 600 m vertical extent, showing wide intervals of elevated radioactivity that remain open at depth and along strike. In comparison, previously reported holes from PCE had identified two mineralized holes, 275 m apart.
Leigh Curyer, Chief Executive Officer, commented: "In the first two months of the summer program, the results have rapidly indicated an expansive, mineralized footprint with remarkable continuity. Geological characteristics are very analogous to Arrow indicating a large, pervasive and high-grade system. The summer program has been purposely bold with very large drill step outs and has intersected mineralization in an additional 8 of the 12 holes drilled. Important to note, PCE has currently hit 4 holes with intense mineralization >61,000 cps, with this occurring at Arrow for the first time in the 15 th hole - which led to subsequently delineating broad ultra-high grade zones in the A2 shear of Arrow.
CanAlaska Uranium Ltd. (OTCQX: CVVUF) (TSX-V: CVV) recently reported that the Moon Lake South Joint Venture ("MLSJV") has approved a supplemental 2024 exploration budget. The supplemental budget will be used to complete a fall drill program that will test newly identified conductivity anomalies along the mineralized CR-3 Corridor. The CR-3 corridor is host to high-grade uranium mineralization discovered in 2023 in drill hole MS-23-10A (2.46% U3O8 over 8.0 metres). The MLSJV is 75%-owned and operated by Denison Mines Corp. ("Denison"), and CanAlaska holds a 25% ownership. CanAlaska is funding the Company's share of the 2024 exploration program.
CanAlaska CEO, Cory Belyk, comments, "I am very pleased with results from the winter geophysical program that have highlighted additional untested targets in the vicinity of high-grade mineralization intersected in 2023. The CR-3 corridor is already host to a significant number of mineralized drillholes which highlight its discovery potential. I congratulate our partner, Denison, for outlining additional priority targets and bringing this supplemental budget to the JV for consideration and approval. CanAlaska and its shareholders can look forward to continued news flow from the Moon Lake South JV in the fall."
FISSION URANIUM CORP. (OTCQX:FCUUF) (TSX: FCU) recently announced it has completed the Front End Engineering Design ("FEED") at its PLS high-grade uranium project in Saskatchewan, Canada. The completion of this crucial development phase includes all geotechnical drilling required for the tailings management facility ("TMF") and underground mine access, including the decline and ventilation shafts. The Company is now transitioning fully into the Detailed Design phase. Additionally, Fission is pleased to announce it has responded to all information requests received from the Ministry ("SK-ENV") regarding its initial draft EIS and has officially submitted an updated draft that includes all feedback received. The EIS permitting process, including a ministerial decision, is expected to conclude in Q4, 2024.
Ross McElroy, President and CEO for Fission, commented, " Fission's expert engineering team continues to make excellent progress at PLS. The completion of the FEED further derisks the project and is a critical step on the pathway to production. Completion of FEED brings the engineering to the level required to support the CNSC application to prepare site and construct a mine or mill. We are now fully transitioning into Detailed Design. In addition, pending assays, the success of this year's resource upgrade drilling at the R1515W zone should allow us to integrate this important high-grade zone into our overall mine plan, which aims to increase mine reserves. I am also delighted to confirm that Fission has submitted a revised draft EIS to the Province, and a Ministerial Decision is expected in Q4 of this year."
About FN Media Group:
At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today's emerging companies. #pressrelease #tickertaggingpressreleases
Follow us on Facebook to receive the latest news updates: https://www.facebook.com/financialnewsmedia
Follow us on Twitter for real time Market News: https://twitter.com/FNMgroup
Follow us on Linkedin: https://www.linkedin.com/in/financialnewsmedia/
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated forty five hundred dollars for news coverage of the current press releases issued by Stallion Uranium Corp. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Contact Information:
Media Contact email: editor@financialnewsmedia.com - +1(561)325-8757
SOURCE: FN Media Group
News Provided by GlobeNewswire via QuoteMedia
HIGHLIGHTS
AuKing’s Managing Director, Mr Paul Williams, said that with the strong industry sentiment emerging from last week’s World Nuclear Association symposium in London, there is likely to be renewed levels of interest for uranium projects. The Company already has a significant position with its Mkuju uranium project in Tanzania and that the Company was excited to have been able to secure the Grand Codroy project in North America. With the global search for sources of uranium mineralisation in full steam he welcomed the opportunity to commence exploration activities after the completion of the acquisition.
Grand Codroy Uranium Project
AuKing has acquired a uranium bearing mineral claim in the Codroy Valley of south-west Newfoundland, Canada known as the Grand Codroy Uranium Project. The claim, covering an area of 2,200 ha, was selected due to presence of several documented uranium occurrences located along a major radiometric high. The Grand Codroy Uranium Property is approximately 50 km north of Port aux Basque, Newfoundland.
Figure 1 – Location of Grand Codroy uranium project, showing historical uranium and copper occurrences across the tenure (Source – Newfoundland Labrador Dept of Industry, Energy and Technology’s “Mineral occurrences database system report”)
The style of low-grade uranium mineralisation within extensive, organic-rich siliciclastic rocks is similar to sandstone-hosted uranium districts in the western United States. These districts have produced significant amounts of uranium from conventional and low-impact, low-cost in-Situ Recovery (ISR) operations. The potential for ISR amenable uranium mineralisation has never been evaluated in the Bay St. George Sub-basin. Based on regional maps the widespread nature of the noted uranium occurrences and the volume of potential host-rock is significant in this area and could potentially represent an economic uranium target.
ASX-listed Infini Resources Limited (ASX: I88) holds the Portland Creek uranium project in western Newfoundland, which is to the north of the Grand Codroy area. I88 is well advanced with a major surface geochemical sampling program and reporting results such as a 74,997ppm U3O8 assay result. (See I88 ASX release on 29 August 2024).
Click here for the full ASX Release
This article includes content from AuKing Mining, 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.
Cameco (TSX: CCO; NYSE: CCJ) has been named #14 on the TSX30 2024, an annual ranking of the top performing stocks by the Toronto Stock Exchange (TSX).
Cameco's dividend-adjusted share price performance is up 186% and the company has seen a 210% increase in market capitalization over the past three years.
"We are pleased to see Cameco's strong and steady growth acknowledged by the TSX. As one of the largest global providers of uranium fuel, we have benefitted from the increasing demand for nuclear power while continuing to enhance value for investors through our disciplined strategy that aligns our operational, marketing and financial decisions," Cameco President and CEO Tim Gitzel said.
"While doing so, we've remained steadfast in our commitment to sustainability, including decarbonization efforts at our operations, diversifying our workforce, and building on our more than 35-year relationship with Indigenous and local communities. We are grateful for the dedicated work of our valued employees who make continued growth possible."
Established in 2019, the TSX30 is an annual list of the 30 top-performing companies on the TSX based on dividend-adjusted share price performance over a three-year period.
"This year's TSX30 reflects the leadership and innovation of Canadian companies as they drive the transition to a cleaner energy future. These top performers are shaping the future of Canada's economy and ensuring our strengths in energy and mining align with the emerging technology sector to keep Canada competitive on the global stage," said Loui Anastasopoulos, Toronto Stock Exchange CEO.
Profile
Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. Our competitive position is based on our controlling ownership of the world's largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240909132189/en/
Investor inquiries:
Cory Kos
306-716-6782
cory_kos@cameco.com
Media inquiries:
Veronica Baker
306-385-5541
veronica_baker@cameco.com
News Provided by Business Wire via QuoteMedia
(TSXV: GRD) (OTCQB: GRDAF) Grounded Lithium Corp. (" GLC " or the " Company ") announces an approved budget (the " Budget ") for the Kindersley Lithium Project (" KLP ") developed in collaboration with Denison Mines Corp (TSX: DML) (NYSE American: DNN) (" Denison ") which advances various activities to June 2025 . The Budget reflects the estimated costs associated with the next stage of rigorous technical de-risking of the KLP expected to conclude with the completion and filing of a pre-feasibility study (" PFS ") for a commercial battery grade lithium operation.
The Budget totals CAD$4.5 million . Pursuant to the Earn-in Agreement dated January 15, 2024 (the " Agreement ") entered into with Denison earlier this year, the full cost of the Budget will be funded by Denison and is comprised of the following major components:
The majority of the Budget's cost supports the geological and engineering activities that advance the commercial potential of the KLP. Minor amounts are allocated to certain regulatory matters, internal administration and compliance costs.
Denison and the Company have commenced a request for proposal (" RFP ") process with leading engineering service firms to author an independent PFS in accordance with National Instrument 43-101. The PFS will further de-risk and analyze the technical and economic feasibility of the KLP and builds on the preliminary economic assessment (" PEA ") completed in 2023. As part of the RFP process, leading candidates recommended the completion of extensive metallurgical lab pilot test work to facilitate a comparison between several different extraction technologies as a necessary step to complete a PFS. Based on this process and the recommendations contained within the PFS, a future field pilot test may be designed, constructed, and operated for a sufficient period of time to support the further advancement of the KLP.
"These exciting next steps with our technical and financial partner, Denison, represent a significant step in the advancement of the KLP, focusing on developing a deeper understanding of the resource and its potential economics," commented Gregg Smith , President & CEO. "The KLP benefits from a comparatively shallow position to access such high-quality resource in a relatively clean brine with few hydrocarbons and other deleterious minerals which is expected to support cost savings due to our minimal prefiltering. Our collaborative stepwise budget developed over the last eight months creates value for both respective shareholder bases as we progress forward with our next field efforts and reservoir analysis initiatives towards a thoroughly considered and rigorous PFS."
Earn In Agreement Impact
Pursuant to the Agreement, Denison holds an option to earn a working interest (" WI ") in the KLP by sole funding project expenditures. Should Denison fund CAD$2.2 million of project expenditures, it will have fulfilled its Phase 1 conditions and earned a 30% in the KLP. Upon completion of this Budget, Denison will have incurred in excess of CAD$5.0 million , inclusive of pre-Budget expenditures to date, of the CAD$6.0 million cumulative project expenditures required to complete Phase 2 of the Agreement. Should additional expenditures follow post this Budget, subsequent phases may be 'earned' into by Denison. As disclosed in our press release dated January 16, 2024 , the Agreement is comprised of the following phases/stages:
(all amounts in CAD$000's except as stated) | Earn-in Option Phase | |||||||||
Phase 1 | Phase 2 | Phase 3 | ||||||||
Investment | WI% at End | Investment | WI% at End | Investment | WI% at End | |||||
Royalty Financing Payment | 800 | |||||||||
Cash Payments to GLC | - | 850 | 1,500 | |||||||
Cumulative Cash Payments | 800 | 1,650 | 3,150 | |||||||
Project Expenditures | 2,200 | 3,800 | 6,000 | |||||||
Cumulative Project Expenditures | 2,200 | 6,000 | 12,000 | |||||||
Total Contributions per Option Phase | 3,000 | 4,650 | 7,500 | |||||||
Cumulative Total Contributions | 3,000 | 7,650 | 15,150 | |||||||
Denison Working Interest in the KLP (%) | 30 % | 55 % | 75 % | |||||||
In order to complete Phase 2, Denison is required to remit a cash payment of CAD$850,000 to the Company, which would enhance our liquidity and financial flexibility through 2025.
About Grounded Lithium Corp.
GLC is a publicly traded lithium brine exploration and development company that controls approximately 1.0 million metric tonnes of Measured & Indicated lithium carbonate equivalent mineral resource and approximately 3.2 million metric tonnes of Inferred lithium carbonate equivalent resource over our focused land holdings in Southwest Saskatchewan as per the Company's updated PEA. The updated PEA, titled " NI 43-101 Technical Report: Preliminary Economic Assessment Kindersley Lithium Project – Phase 1 Update " dated November 7, 2023 and effective as of June 30, 2023 , reports a Phase 1 NPV 8 after-tax of US$1.0 billion with an after-tax IRR of 48.5%. GLC's multi-faceted business model involves the consolidation, delineation, exploitation and ultimately development of our opportunity base to fulfill our vision to build a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition shift. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on https://www.otcmarkets.com/ .
Qualified Person
Scientific and technical information contained in this press release has been prepared under the supervision of Doug Ashton , P.Eng., Alexey Romanov , P. Geo., Meghan Klein , P. Eng., Dean Quirk , P.Eng., Jeffrey Weiss , P.Eng., Chad Hitchings ., P.L. Eng., and Michael Munteanu , P.Eng., each of whom is a qualified person within the meaning of NI 43-101.
Forward-Looking Statements
This press release may contain forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws. The opinions, forecasts, projections and statements about future events of results, are forward looking information, forward-looking statements or financial outlooks (collectively, " forward-looking statements ") under the meaning of applicable Canadian securities laws. These statements are made as of the date of this press release and the fact that this press release remains available does not constitute a representation by GLC that the Company believes these forward-looking statements continue to be true as of any subsequent date. Although GLC believes that the assumptions underlying, and expectations reflected in, these forward-looking statements are reasonable, it can give no assurance that these assumptions and expectations will prove to be correct. Such statements include, but are not limited to, statements pertaining to the Budget and estimated costs of activities at the KLP; the completion and filing of a pre-feasibility study in respect of the KLP; the effects of the PFS; the scale of the KLP; delineation of the KLP resource base through additional drilling and sampling; additional brine production from the KLP; the testing of pre-filtering and extraction technologies; the technical committee's assessment of the process flow sheet; the assessment and selection of a lithium extraction technology for the KLP; the creation of a depletion and recovery model and its use in future economic analysis and reservoir production; the commercial potential of the KLP and GLC's understanding thereof; the selection and design of a field pilot; the funding of project expenditures by Denison and the quantum thereof; the fulfillment of Denison's Phase 1 conditions under the Agreement; Denison's election to enter into subsequent phases under the Agreement; additional expenditures arising in respect of the KLP; Denison earning into subsequent phases under the Agreement; Denison remitting cash payments to the Company and the effect thereof on GLC's working capital reserves; GLC's understanding of the KLP resource and the economics thereof; the quality and characteristics of the brine extracted at the KPL and associated cost savings; creating value for shareholders; trends in the lithium market and their affects on economic returns; and GLC's vision of becoming a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition.
Among the important factors, risks, uncertainties and assumptions that could cause actual results to differ materially from those indicated by such forward-looking statements are: GLC's expectation that our operations will be in Western Canada , unexpected problems can arise due to technical difficulties and operational difficulties which impact the production, transport or sale of our products; geographic and weather conditions can impact the production; the risk that current global economic and credit conditions may impact commodity prices and consumption more than GLC currently predicts; the failure to obtain financing on reasonable terms; the risk that unexpected delays and difficulties in developing currently owned properties may occur; the failure of drilling to result in commercial projects; unexpected delays due to the limited availability of drilling equipment and personnel; Denison electing to fund project expenditures and the other risk factors detailed from time to time in GLC's periodic reports. GLC's forward-looking statements are expressly qualified in their entirety by this cautionary statement.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
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 news release.
View original content to download multimedia: https://www.prnewswire.com/news-releases/grounded-lithium-announces-robust-4-5-million-budget-funded-by-denison-mines-for-the-kindersley-lithium-project-302243315.html
SOURCE Grounded Lithium Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2024/10/c1929.html
News Provided by Canada Newswire via QuoteMedia
