TISDALE CLEAN ENERGY CORP. (“ Tisdale ” or the “ Company ”) (TSXV:TCEC ) , ( OTC: TCEFF ) , ( FSE: T1KC ) , is pleased to provide an update on the phase one diamond drill program recently conducted at the South Falcon East Uranium Project, which hosts the Fraser Lakes B uranium deposit.
The 12,464-ha 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 (Figure 1). 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.
This initial 2024 program is scheduled to complete up to 1500m of drilling in two phases, with the priority being the confirmation of existing mineralization. Follow-up drill programs will then be pursued to both facilitate expansion of the known Fraser Lake B deposit and to test multiple additional high-priority exploration targets at South Falcon East (Figure 2).
Phase one included 442m drilled in the first two drill holes. Hole SF-0059 was completed to a depth of 221m and intersected multiple zones of uranium mineralization over 13.5m, confirming the presence of mineralization in the vicinity of historical hole FP-15-05 (see below). Mineralization occurs within altered pelitic gneiss containing granitic pegmatites, overlying graphitic pelitic gneiss.
Highlights include:
The second drill hole of the program, SF-0060, was targeted to test for an extension of the mineralization in FP-15-05 along strike 25m to the Northeast of the mineralized intercept of FP-15-05. Hole SF-0060 was completed to a depth of 221m. Several zones of mineralization were also encountered, below 132m, with the best intersection occurring within altered pelitic gneiss containing graphite and granitic pegmatites.
This zone is highlighted by:
“We’re pleased to see uranium values comparable to the grades of the known resource in the first drill two drill holes completed on the property in nearly a decade,” said Alex Klenman, CEO. “This is what we need to see as we confirm then pursue expansion. We are starting with a historical resource of nearly 7 million pounds of uranium contained in a shallow deposit. The opportunity we have here is exceptional, certainly unique for a company with our market cap, and we believe we’re just scratching the surface in terms of what can be achieved at South Falcon East,” continued Mr. Klenman.
“We are encouraged to be intersecting the expected mineralization near the previous drilling at South Falcon East,” commented Trevor Perkins, Consulting Geologist for Tisdale. “This confirmation of existing mineralization is a necessary first step to expanding the Fraser Lakes B @hUranium Deposit,” continued Mr. Perkins.
Samples of the mineralized intervals within the drill core have been collected and shipped for analysis at the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon, Saskatchewan. The Company will provide more detailed results once geochemical analysis of the collected drill core samples is completed, reviewed, and confirmed.
The results of these two drill holes confirm the presence of mineralized pegmatites and pelitic paragneiss within the deposit and project area. Graphitic pelitic paragneiss are the key lithology associated with uranium deposits within the eastern Athabasca Basin and are a good indication that additional pegmatite deposits as well as basement hosted unconformity related uranium deposits may be present along the Way Lake Conductor, within the South Falcon East claim boundaries.
Drilling at South Falcon East is scheduled to resume later this spring. The Company will release details on the dates of mobilization and drill commencement once they are confirmed. Phase two drilling will again be conducted by Terralogic Exploration Inc. under the supervision of Laura Tennent, Project Manager with TerraLogic Exploration, and C. Trevor Perkins, lead geologist for Tisdale. The drill program is operating out of Skyharbour’s McGowan Lake Camp with helicopter support for the daily drilling operations.
Historical Drill Hole FP-15-05
Historical diamond drill hole FP-15-05 was drilled by Skyharbour Resources in 2015 and returned multiple zones of mineralization over a 14m interval, including 6m of .10% U308 (including a 2m interval of 0.165% U3O8 (from 135m) and 2.5m of 0.172% U3O8 (from 145m). This is the best intersection to date on the property and along the Way Lake conductive trend.
This hole, it should be noted, had to be abandoned due to equipment issues at 165m within the mineralized zone, leaving steel drill rods throughout the hole. Tisdale’s initial drill hole, SF-0059, was planned to twin historical hole FP-15-05. Modifications were made to accommodate the presence of the material left behind in the hole and adjustments made to mitigate a lack of precision in tracing of FP-105-05, as no downhole orientation surveys were able to be completed, and any potential downhole deviation was unable to be determined. As a result, a larger separation and step forward was required, as well as the use of non-magnetic downhole orientation survey equipment. SF-0059 was therefore located 2.0m forward (in front, up-dip) of FP-15-05 to ensure no interference.
Figure 1: South Falcon East Project Location – Eastern Athabasca Basin, Saskatchewan, Canada
Use of Radiometric Equivalent Grades
Drillholes are logged for in-situ radioactivity using a calibrated Mount Sopris Triple Gamma probe which collects continuous readings along the length of the drillhole. The probe records the amount of radioactivity present in the rock adjacent to the probe as it moves up and down the hole. Preliminary radiometric equivalent grades (% eU3O8) are then calculated from the downhole radiometric results using an algorithm derived from the calibration of the downhole probe equipment. The Triple Gamma probe was calibrated prior to the commencement of the current drill program at the Saskatchewan Research Council test pit facility in Saskatoon, Saskatchewan.
Using down-hole probes to calculate radiometric equivalent grades is a common practice used by uranium exploration and mining companies in the Athabasca Basin. Tisdale will report radiometric equivalent grades as a preliminary result indicative of intersected mineralization pending the receipt of definitive assay grades once geochemical analysis of collected drill core samples from the mineralized intervals are complete. The samples will be analyzed at the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon, Saskatchewan.
Figure 2: 2024 Drill Target areas at the south Falcon East Uranium Project
Figure 3: 2024 Drill location map in relation to FP-15-05 and the Way Lake Conductor.
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. The exploration potential of the Fraser Lakes target area is considered exceptional, including the historical resource expansion potential of the current deposit at Zone B.
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., Lead 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
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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Vancouver, B.C. TheNewswire - February 1, 2024 Tisdale Clean Energy Corp. (the " Company " or " Tisdale ") (CSE:TCEC ) ( OTC:TCEFF ) ( FSE:T1KC ) is pleased to announce that it has closed a second tranche of its non-brokered private placement (the " Offering ") and has issued a further 6,362,216 units (each, a " Unit ") at a price of $0.18 per Unit for gross proceeds of $1,145,199. Each "Unit" issued in the second tranche of the Offering consists of one common share of the Company and one share purchase warrant exercisable at a price of $0.30 until February 1, 2026.
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HIGHLIGHTS
Following completion of the 2024 drill program at Lo Herma, GTI intends to publish an updated mineral resource estimate and exploration target range for the project. The Company expects that the updated mineral resource estimate will support near-term development of a Scoping Study to demonstrate the economic potential of the project.
GTI Executive Director Bruce Lane commented, “We are pleased and excited to have received investor support and funding to continue moving forward with our planned resource expansion drilling at Lo Herma. Matt and the team in Wyoming have put us in a great position to complete the drilling program this quarter, with a revised mineral resource estimate to be rapidly advanced post-drilling. This work prepares GTI for a potential Lo Herma scoping study which we hope to commence later this year on the basis that we can significantly grow the uranium resource estimate to a similar scale to ISR uranium mines currently being constructed or planned in Wyoming at Ur-Energy’s Shirley Basin project & Encore’s Energy’s Gas Hills project.”
FIGURE 1. GTI WYOMING PROJECT LOCATIONS
LO HERMA GEOLOGIC SUMMARY
The Lo Herma project is located on the southern end of the west flank of the Powder River Basin (PRB), a regional asymmetric synclinal basin hosting a sedimentary rock sequence of about 15,000 feet in the deeper portions of the basin. The basin is bounded by the Bighorn Mountains on the west, the Black Hills to the east, and the Casper Arch, Laramie Mountains, and Hartville Uplift along the southern margin. Along the edges of the basin, progressively older sedimentary units outcrop at the surface as you move away from the synclinal axis of the basin.
The target host geology for Lo Herma project is located in and around the contact of the Eocene Wasatch Formation (Wasatch) and the Paleocene Fort Union Formation (Fort Union).
Click here for the full ASX Release
Highlights
Infini’s CEO, Charles Armstrong said: “These first pass soils are nothing short of outstanding and represent some of the highest uranium soil grades returned globally. To see such consistent and high- grade mineralisation within soil sampling across ~235m x 100m, which sits within a ~3.2km radiometric corridor is remarkable and suggests we may be very close to a potential discovery here at Portland Creek. The high-grade soils are proximal to highly anomalous biogeochemical and boulder rock samples, further increasing our confidence in this remarkable uranium asset. We might be onto something of significant scale here. Right now, we await the follow-up assay results from these ‘ore grade’ soil samples to determine how high they really are, in addition to planning fieldwork to sample the unexplored radon gas anomalies at the property.”
Figure 1 The Talus Uranium Prospect depicting the location of the incredibly high-grade soil samples. Note: surface geochemistry is highly coincidental with the large existing anomalous radiometric corridor.
Soil Sampling Results
A total of 75 soils were taken in east-west traverse lines through known radiometric anomalism except for one area surrounding a historical radon gas anomaly. This area was identified as anomalous during spectrometer line traverses and infill samples on tight ~25m spacings where terrain allowed. Two uranium soil anomalies have been identified running in north-south orientations at the Talus prospect. High grade anomaly one (Figure 2 and Appendix 1 Table 1) is ~235m x 100m with a peak value of >11,792 ppm U3O8 (above LOD) and anomaly two is ~165m long with a peak value of 284 ppm U3O8. These findings are even more significant given the average background reading in soils is only ~8 ppm U3O8 (peak anomaly - 1474 times background).
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This article includes content from Infini Resources 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.
Australian uranium producer Boss Energy (ASX:BOE) has two projects – the 100 percent-owned Honeymoon uranium project in South Australia and the 30 percent-owned Alta Mesa project in the US.
The macro-environment and steps taken by the US government remain favorable for uranium producers such as Boss Energy. The US Congress recently enacted legislation prohibiting the importation of Russian uranium products known as the Prohibiting Russian Uranium Imports Act (HR 1042), valid until 2040.
The Honeymoon uranium project in South Australia spans approximately 80 kms northwest of Broken Hill. The project is home to the historical Honeymoon uranium mine, Australia's second operating in-situ recovery uranium mine. It began production in 2011 under the previous ownership of Uranium One. Operations at Honeymoon were halted in November 2013 due to declining uranium prices. Subsequently, Boss Energy acquired the project in 2015. The company has since restarted the mine, with the first drum of uranium produced in April 2024.
This Boss Energy profile is part of a paid investor education campaign.*
Click here to connect with Boss Energy (ASX:BOE) to receive an Investor Presentation
Cameco (TSX: CCO; NYSE: CCJ) released its 2023 Sustainability Report today. The report communicates the sustainability initiatives and key metrics that demonstrate Cameco's progress to date and the continual advancement of our sustainability reporting.
"Our vision is to energize a clean-air world. As the world seeks to decarbonize, we also want to do our part and be an active partner in the fight against climate change. I am proud of the steps we have taken to reduce our carbon footprint, focus on environmental protection, and make our workplace more supportive and reflective of the communities where we live and work," Cameco President and CEO Tim Gitzel said.
"Cameco remains committed to quality reporting on sustainability matters to our investors, customers, employees, regulators, local Indigenous Peoples and communities around our operations."
In this report, Cameco has incorporated relevant Sustainability Accounting Standards Board (SASB) performance indicators and continued its progress toward integrating the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). The report can be downloaded or read online at www.cameco.com/about/sustainability
The 2023 Sustainability Report includes several notable highlights for Cameco:
"The advantages of nuclear energy to provide carbon-free, constant and reliable power are being recognized globally in the fight against climate change and to achieve energy security. With growing electricity demand, we believe countries around the world are looking to Cameco to provide fuel to help de-carbonize their economies," Gitzel said. "Our joint acquisition of Westinghouse, a global provider of specialized nuclear technologies, products and services, is expected to augment our core business and expand our reach across the nuclear fuel cycle.
"Our achievements on sustainability priorities are critical to our ability to capitalize on the growing momentum in the nuclear industry."
Cameco's board of directors and executive team oversee the company's sustainability strategy, execution, and reporting. In addition to SASB and TCFD, the report contains other key performance indicators that we believe have an important bearing on Cameco's long-term sustainability, some of which are unique to our company and some of which are based on the GRI Standards framework that we used as the basis of our sustainability reporting prior to 2020. For the third year, we have obtained a third-party limited assurance report on selected performance indicators.
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.
Caution Regarding Forward-Looking Information and Statements
This news release includes statements considered to be forward-looking information or forward-looking statements under Canadian and U.S. securities laws (which we refer to as forward-looking information), including: our commitment to continual advancement of our sustainability reporting, our vision and views on the transition to a low-carbon economy and our desire to be an active partner in the fight against climate change, the demand for clean electricity, and the role of nuclear energy; our expectations regarding Cameco's role and the role of nuclear power more generally in combatting climate change; our commitment to quality reporting on sustainability matters; our engagement with key value chain partners and suppliers regarding energy and greenhouse gas emissions management activities and reduction opportunities; the elimination of need to use surface water for certain purposes; the effect of our acquisition of Westinghouse on our business and other matters. This forward-looking information is based on a number of assumptions, including assumptions regarding: carbon emission reduction and the continued focus on transition to a low-carbon economy, the demand for clean energy and the contribution that could be made by nuclear energy to reduce climate change; our commitment and ability to advance our climate, environmental and social-related goals. This information is subject to a number of risks, including: the risk that carbon reduction goals may not be achieved within the expected timeframe, if at all; the risk that the demand for clean electricity will not meet the level we expect, or that nuclear energy will not make the contribution to carbon reduction that we expect; the risk that our estimates and forecasts and the data underlying them may be inaccurate; the risk that we will face unexpected challenges or delays in advancing our climate, environmental and social-related goals and that they may not achieve the intended outcomes or results in whole or in part; and the risk that our acquisition of Westinghouse will not yield the intended benefits for us or any at all. Additional assumptions and risks are detailed in the Caution About Forward-Looking Information in our ESG Report and pages 4-6 of our Management's Discussion and Analysis. The forward-looking information in this news release represents our current views, and actual results may differ significantly. Forward-looking information is designed to help you understand our current views, and may not be appropriate for other purposes. We will not necessarily update this information unless we are required to by securities laws.
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Investor inquiries:
Cory Kos
306-716-6782
cory_kos@cameco.com
Media inquiries:
Veronica Baker
306-385-5541
veronica_baker@cameco.com
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