(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
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.
(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
Martin Gagel of Market Radius Research , Tisdale CEO Alex Klenman, and lead geologist C. Trevor Perkins, will discuss Tisdale's South Falcon East uranium project which contains the Fraser Lake B uranium deposit, and the Company's earn-in agreement with Skyharbour Resources to explore and develop the project.
The webinar will be a live, interactive online event where attendees are invited to ask the Company questions in real-time following the interview. An archived webcast will be made available for those who cannot join the event live on the day of the webinar.
Event: Radius Research Pitch, Deep Dive, and Q&A with Tisdale Clean Energy Corp.
Presentation Date & Time: Thursday, March 7th at 1:00 PM ET / 10:00 AM PT
Webcast Registration Link:
https://us02web.zoom.us/webinar/register/2117092235396/WN_YyE5G8neTXC8FvDlz9TaGg
Market Radius Research gives individual investors access to in-depth CEO interviews with deep-dive institutional level discussion and Q&A. Market Radius is hosted by Martin Gagel, former top-ranked technology analyst. By registering for this webinar, you agree to receive email communications from Market Radius Capital, Inc. and from the presenting company (with unsubscribe). Your email will not be further shared. Martin Gagel and Market Radius Capital, Inc. are not registered or licensed to provide investment advice and may own shares in mentioned companies and may be compensated for these services. Content is for information purposes only and is not advice or recommendations and may include incomplete or incorrect information. Investing entails a high degree of risk. This is a production of Market Radius Capital, Inc.
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, a 12,770-hectare project located in the Athabasca Basin region, Saskatchewan, Canada, which contains the Fraser Lakes B uranium/thorium deposit.
For further information, contact Alex Klenman at info@tisdalecleanenergy.com or 604.970.4330 .
ON BEHALF OF THE BOARD OF Tisdale Clean Energy Corp.
"Alex Klenman"
Alex Klenman, Chief Executive Officer
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. These forward-looking statements or information may relate to the anticipated use of proceeds from the Offering and other factors 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.
Copyright (c) 2024 TheNewswire - All rights reserved.
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
In connection with completion of the Offering, the Company paid $20,720 and issued 115,115 share purchase warrants (each, a " Brokers Warrant ") to certain arms-length brokerage firms who assisted in introducing subscribers to the Offering. Each Brokers Warrant is exercisable at a price of $0.30 until February 29, 2026. All securities issued in connection with closing of the Offering are subject to restrictions on resale until June 30, 2024, in accordance with applicable securities laws.
The proceeds from the Offering will be used for general working capital purposes and for carrying out exploration programs at the South Falcon East uranium project.
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, a 12,770 hectare project located in the Athabasca Basin region, Saskatchewan, Canada, which contains the Fraser Lakes B uranium/thorium deposit.
For further information, contact Alex Klenman at info@tisdalecleanenergy.com or 604.970.4330 .
ON BEHALF OF THE BOARD OF Tisdale Clean Energy Corp.
"Alex Klenman"
Alex Klenman, Chief Executive Officer
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. These forward-looking statements or information may relate to the anticipated use of proceeds from the Offering and other factors 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.
Copyright (c) 2024 TheNewswire - All rights reserved.
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.
Figure 1: South Falcon East Project Location – Eastern Athabasca Basin, Saskatchewan, Canada
Figure 2: 2024 Drill Target areas at the south Falcon East Uranium Project
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
(TheNewswire)
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.
In connection with completion of the second tranche of the Offering, the Company paid $17,500 and issued 97,222 share purchase warrants (each, a " Brokers Warrant ") to certain arms-length brokerage firms who assisted in introducing subscribers to the Offering. Each Brokers Warrant is exercisable at a price of $0.30 until February 1, 2026. All securities issued in connection with the second tranche of the Offering are subject to restrictions on resale until June 2, 2024, in accordance with applicable securities laws.
When combined with the first tranche of the Offering, the Company has raised gross proceeds of $1,920,199 through the issuance of 10,667,772 Units. Due to strong market interest, the Company has elected to increase the size of the Offering by 5,405,405 Units for a total of 16,666,667 Units, which if fully subscribed would increase total gross proceeds to $3,000,000. The Company anticipates completing the final tranche of the Offering in the next two weeks.
Completion of a final tranche of the Offering remains subject to any required regulatory approvals. The proceeds from the Offering will be used for general working capital purposes and for carrying out exploration programs at the South Falcon East uranium project.
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, a 12,770-hectare project located in the Athabasca Basin region, Saskatchewan, Canada, which contains the Fraser Lakes B uranium/thorium deposit.
For further information, contact Alex Klenman at info@tisdalecleanenergy.com or 604.970.4330 .
ON BEHALF OF THE BOARD OF TISDALE CLEAN ENERGY CORP.
Alex Klenman, Chief Executive Officer
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. These forward-looking statements or information may relate to the anticipated use of proceeds from the Offering and other factors 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.
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Improved uranium prices supports lower cut-off grade which results in expanded stated U3O8 resources at Dawson Hinkler by 115% to 20.29Mlbs U3O8
Toro Energy Limited (ASX: TOE) (‘the Company’ or ‘Toro’) is pleased to announce that the Company has expanded the stated uranium (as U3O8) resources at the Dawson Hinkler Uranium Deposit (Figure 1) by reducing the stated U3O8 resource cut-off grade to 100ppm from 200ppm.
Toro expands strategic satellite stated resource for flagship Wiluna Uranium Project
* No re-estimation of resources at Dawson Hinkler has taken place. This change to the reporting cut-off is to the existing estimation completed on the Dawson Hinkler Uranium Deposit in 2013 (see ASX announcement of 8 October 2013).
Management Commentary
Commenting on this excellent development Toro’s Executive Chairman, Richard Homsany, said:
“This is a considerable advancement for Toro, as the ability to now consider the inclusion of the Dawson Hinkler Uranium Deposit in the production profile of Toro’s Wiluna Uranium Project will significantly strengthen our pending feasibility study. Located only 15km away this deposit has the potential to further enhance the significant potential returns already on offer at Wiluna.
The increased optionality around Wiluna’s development is a great outcome for shareholders and potential investors. Identifying and advancing the most financially feasible model of Wiluna amidst the backdrop of a strengthening uranium market will continue to underpin our approach to any required changes to the regulatory conditions under which we operate.
Toro looks forward to continuing to provide further updates on development and value creation within its asset portfolio. Toro remains securely funded and well positioned to deliver on its stated milestones.”
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This article includes content from Toro Energy, 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.
In a unanimous decision, the US Senate has greenlit legislation to halt imports of Russian uranium, escalating efforts to disrupt Russia's activities amidst its ongoing conflict with Ukraine.
The Prohibiting Russian Uranium Imports Act garnered unanimous consent in the Senate and now awaits President Joe Biden's signature to become law.
The ban, expected to take effect within 90 days of enactment, is also poised to significantly impact the US market, given that the nation relies on imports to fulfill 100 percent of its annual uranium needs.
According to 2023 data from the US Energy Information Administration 12 percent of annual uranium imports originated in Russia, 25 percent was mined in Kazakhstan and 11 percent in Uzbekistan. Russian sources for over 90 percent of its annual uranium consumption.
The bipartisan bill, which received earlier approval from the House of Representatives in December, includes provisions for waivers in the event of domestic supply shortages for nuclear reactors. Moreover, it earmarks US$2.7 billion, previously allocated in legislation, to bolster the development of the domestic uranium processing industry.
Uranium serves as a critical fuel for commercial nuclear reactors, playing a vital role in electricity generation. The US ban on Russian uranium imports mirrors previous actions taken against the nation, such as the prohibition of Russian oil imports following its invasion of Ukraine in 2022, alongside the implementation of price controls on select crude and oil product exports.
The ban on Russian imports, if implemented, is expected to disrupt an estimated US$1 billion annual trade flow to Russia. Replacing this supply could pose a significant challenge and potentially raise the costs of enriched uranium by up to 20 percent.
The proposed statute, set to expire at the end of 2040, also includes provisions allowing the Department of Energy (DOE) to issue waivers authorizing Russian uranium imports up to export limits established in an anti-dumping agreement through 2027.
However, failure to secure these waivers could lead to a significant spike in uranium prices, potentially reaching record highs.
Senator John Barrasso, Wyoming's Republican senator and top figure on the Senate Energy Committee, emphasized the readiness of states like Wyoming to step in and fill the void left by Russian imports.
"Our bipartisan legislation will help defund Russia's war machine, revive American uranium production, and jumpstart investments in America's nuclear fuel supply chain," added the lawmaker in a press release.
President Joe Biden, who recently signed a foreign aid bill channeling significant support to Ukraine, is expected to endorse the legislation banning Russian uranium imports.
Earlier this year the Biden administration announced incentives for private companies to ramp up the production of high-assay low-enriched uranium (HALEU).
The move comes as part of a broader effort to reduce reliance on foreign sources of nuclear fuel and stimulate the growth of the US nuclear energy sector.
Last autumn, a facility in Ohio initiated the nation's first domestic production of HALEU, albeit at a small scale. Now, with the support of the federal government, efforts are underway to expand domestic production capacity.
The DOE has offered private companies a minimum of US$2 million each to kickstart HALEU production, marking the second phase of a US$500 million allocation from President Biden's climate-spending law, the Inflation Reduction Act.
“Boosting our domestic uranium supply won’t just advance President Biden’s historic climate agenda, but also increase America’s energy security, create good-paying union jobs, and strengthen our economic competitiveness,” said Ali Zaidi, Biden’s national climate adviser, in a statement earlier this year.
The move to incentivize domestic HALEU production comes amid growing concerns over Russia's dominant position as a supplier of traditional fuel imports for American utilities. While the US and its allies have imposed sanctions on Russian oil, gas, and mining companies in response to Russia's actions in Ukraine, the state-owned Rosatom continues to be a significant source of traditional fuel imports.
Edward McGinnis, former chief executive of the fuel-recycling Startup Curio, likewise raised the potential of recycling nuclear waste to complement traditional uranium mining.
He earlier called on the Senate and White House to champion measures to deploy nuclear waste recycling, describing it as a win-win solution that addresses both the nuclear waste problem and the need for domestic fuel production.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Nuclear energy is a critical component in the transition to net zero. There's a growing acknowledgment of the pivotal role nuclear power can play in meeting decarbonization objectives, thanks to its clean emissions profile, dependable baseload capabilities, and secure operation. Global electricity demand is set to grow 50 percent by 2040 and nuclear energy will play an integral role in meeting this demand. This is evident in the recently released World Energy Outlook 2023 published by the International Energy Agency (IEA) which highlighted the role that nuclear energy can play in making the journey towards net-zero faster, more secure, and more affordable.
According to the World Nuclear Association, there are currently 439 reactors operating globally. This capacity is increasing steadily with about 61 reactors under construction in 15 countries and a further 400 that are either ordered, planned or proposed. The IEA anticipates a substantial growth of over 43 percent in installed nuclear capacity from 2020 to 2050, reaching approximately 590 gigawatts of electrical output. This should drive demand for uranium over the coming decades.
UxC, a nuclear industry market data and analysis firm, estimates that annual uranium demand could soar by nearly 65 percent, surpassing 300 million pounds (Mlbs) U3O8 by 2030 from the current demand level of 197 Mlbs U3O8. Against this, the mine supply for 2024 is estimated to be around 155 Mlbs U3O8, implying a deficit of nearly 40 Mlbs. Further, substantial underinvestment in new mining projects has exacerbated an already constrained supply side, leading to prolonged strain in the years ahead.
As a result, spot uranium prices have seen a big jump. Uranium prices are now the highest since 2008 at over US$80/lb. Prices are expected to remain strong due to the ongoing tightness in the uranium supply/demand balance. As mentioned earlier, this tightness is likely to intensify over the next 24 months as demand continues to rise, new supply remains restricted, and inventories/stockpiles continue to diminish. The risks to the supply side far outweigh risks to the demand side given that more than 50 percent of global uranium production comes from countries with significant geopolitical risk.
This is where companies such as Skyharbour Resources (TSXV:SYH), with a presence in jurisdictions such as the Athabasca Basin in Canada, stand out for its geopolitical stability. The Athabasca Basin is the world’s most prolific uranium jurisdiction, boasting uranium grades averaging over ten to twenty times higher than those found elsewhere, with levels at 3.95 percent U3O8 in contrast to the global average of 0.15 percent.
Skyharbour Resources possesses a broad portfolio of uranium exploration projects within the Athabasca Basin and is strategically positioned to capitalize on the improving fundamentals of the uranium market. The company follows a dual strategy of mineral exploration at its core projects (Russell and Moore) while utilizing the prospect generator model to advance its secondary projects with strategic partners. Employing the prospect generator model provides advantages to Skyharbour as partner firms finance exploration and development activities, as well as making cash and stock payments directly to Skyharbour Resources as they earn in on the projects. The model allows Skyharbour to retain upside exposure through minority interests and royalties at the partner projects while limiting equity dilution and ensuring that partner companies fund the majority of exploration costs.
Skyharbour Resources has seven partner companies, including Orano Canada, Azincourt Energy, Thunderbird Resources (previously Valor), Basin Uranium Corp, Medaro Mining, Tisdale Clean Energy, and North Shore Uranium. Skyharbour’s option agreements total over C$33 million in exploration expenditures, with more than C$27 million in stock being issued and over C$20 million in cash payments potentially coming into Skyharbour.
This project covers an area of 35,705 hectares, located in the eastern Athabasca Basin near existing infrastructure with known high-grade uranium mineralization and significant discovery potential. Skyharbour acquired the project from Denison Mines (TSX:DML), a large strategic shareholder of the company. The project can be easily accessed year-round via winter and ice roads, streamlining logistics and reducing expenses. During the summer months, a significant portion of the property remains accessible as well. The property has been the subject of extensive historic exploration with over $50 million in expenditures, and over 140,000 meters of diamond drilling completed historically.
Moore hosts high-grade uranium mineralization at the Maverick zones. Over the past few years, Skyharbour Resources has conducted diamond drilling programs, resulting in the intersection of high-grade uranium mineralization in numerous drill holes along the 4.7-kilometer-long Maverick structural corridor. Some of the high-grade intercepts include:
Merely 50 percent of the total 4.7-kilometer promising Maverick corridor has undergone systematic drilling, indicating significant discovery potential both along its length and within the underlying basement rocks at depth. Skyharbour has announced a 3,000-meter 2024 drill program which will include infill and expansion drilling at the high-grade Maverick Corridor as well as testing several regional targets including the Grid Nineteen target area.
Apart from the Maverick Zone, diamond drilling in various other target areas has encountered multiple conductors linked with notable structural disturbances, robust alteration, and anomalous concentrations of uranium and associated pathfinder elements.
The Russell Lake project is a large, advanced-stage uranium exploration property spanning 73,294 hectares, strategically positioned between Cameco’s Key Lake and McArthur River projects. Skyharbour entered into an option agreement with Rio Tinto which gives it the right to acquire an initial 51 percent and up to 100 percent of the project. Skyharbour can earn an initial 51 percent by paying C$508,200 in cash, issuing 3,584,014 shares to Rio Tinto, and funding C$5,717,250 in exploration on the Russell Lake project, over three years. Skyharbour has a second option to earn an additional 19 percent interest for a total of 70 percent, and a further option to obtain the remaining 30 percent interest in the project.
The project is adjacent to Denison’s Wheeler River project and Skyharbour’s Moore uranium project. It is supported by excellent infrastructure in terms of highway access as well as high-voltage power lines. The project has undergone a significant amount of historical exploration which includes over 95,000 meters of drilling in over 220 drill holes. The exploration identified numerous prospective target areas and several high-grade uranium showings as well as drill hole intercepts.
The property hosts several noteworthy exploration targets, including the Grayling Zone, the M-Zone Extension target, the Little Man Lake target, the Christie Lake target, and the Fox Lake Trail target. Skyharbour completed a 19-hole drilling program totaling 9,595 meters in three phases in 2023. The initial drilling phase encompassed 3,662 meters across eight completed holes at the Grayling Zone, followed by a second phase involving four holes totaling 2,730 meters drilled at the Fox Lake Trail Zone. The third drilling phase involved 3,203 meters across seven holes targeting additional areas within the Grayling Zone.
Skyharbour is carrying out a 5,000-meter winter drilling program currently to follow up on the 2023 campaign and historical exploration work. The 2024 program will focus on Grayling East and Fork targets within the broader Grayling target area as well as the M-Zone Extension target.
This project comprises 11 claims covering 42,908 hectares located approximately 50 km east of the Key Lake mine. Skyharbour Resources has entered into an option agreement with North Shore Uranium which provides North Shore with an earn-in option to acquire an initial 80 percent interest and up to a 100% interest in the Falcon Property. North Shore can acquire an initial 80 percent interest in the claims within three years by meeting combined commitments of C$5.3 million in cash, share issuance, and exploration expenditures. Additionally, there's an option to buy the remaining 20 percent for an extra C$10 million in cash and shares.
This project comprises 16 claims covering 12,234 hectares located approximately 55 km east of the Key Lake mine. Skyharbour has optioned up to a 75 percent interest in a portion of the project to Tisdale Clean Energy. Tisdale will issue Skyharbour Resources 1,111,111 shares upfront, fund exploration expenditures totaling C$10.5 million, and pay Skyharbour Resources C$11.1 million in cash of which C$6.5 million can be settled for shares over a five-year earn-in. Skyharbour Resources will retain a minority interest in the South Falcon East.
This project comprises 20,674 hectares located on the west side of the Athabasca Basin. In March 2017, Skyharbour Resources signed an option agreement with Azincourt Uranium (TSXV:AAZ) to option 70 percent of a portion of the East Preston project to Azincourt. Since then, Azincourt earned a majority interest in the project which currently stands at 85.8 percent. Skyharbour retains 9.5 percent ownership and Dixie Gold owns the remaining 4.7 percent.
Azincourt completed a 2023 drill program comprising 3,066 meters in 13 drill holes. A 1,500-meter drill program consisting of 5 drill holes is set to commence in 2024.
This project comprises 49,635 hectares strategically located near Fission’s Triple R deposit and NexGen’s Arrow deposit. In March 2017, Skyharbour Resources signed an option agreement with Orano (formerly AREVA) Resources Canada to option a majority stake in the Preston project. Orano has fulfilled its first earn-in option interest for 51 percent in the project. Following this, Orano has formed a joint venture (JV) with Skyharbour and Dixie Gold for the advancement of the project. Orano holds 51 percent interest, and the remaining is split evenly (24.5 percent each) between Skyharbour and Dixie Gold.
This project comprises 16 claims covering 25,847 hectares on the east side of the Athabasca Basin. In February 2024, Thunderbird Resources (previously Valor) completed an earn-in for 80 percent interest and formed a JV partnership with Skyharbour which retains the remaining 20 percent interest.
This project consists of 13 claims totaling 57,407 hectares in the Wollaston Domain. In November 2021, Medaro signed an agreement to acquire an initial 70 percent interest by spending C$5 million on exploration, C$800,000 in cash payments, and C$3 million in Medaro shares over 4 years. Medaro may acquire the 30 percent interest, within 30 business days of earning the initial 70 percent interest, by issuing C$7.5 million of shares and a cash payment of $7.5 million to Skyharbour.
This project is strategically located on the east side of the Athabasca basin, 25 km southwest of Cameco’s McArthur River Mine and 15 km northeast and along strike of Cameco's Millennium uranium deposit. In October 2021, Basin Uranium signed an earn-in option to acquire a 75 percent interest in the project. Basin will pay a combination of cash and stocks over three years comprising C$4.85 million in cash plus exploration expenditure and C$1.75 million worth of shares.
In addition to the projects being advanced by Skyharbour and its partners, the Company has an additional twenty 100% owned projects that they’re actively seeking to option out to potential new partners in the future to add to their growing prospect generator business. All in all, Skyharbour is very well positioned to benefit from an accelerating uranium bull market with increasing demand in the backdrop of a strained supply side.
With a background in entrepreneurship, Jordan Trimble has held various positions in the resource industry, focusing on management, corporate finance, strategy, shareholder communications, business development, and capital raising with multiple companies. Prior to his role at Skyharbour, he was the corporate development manager at Bayfield Ventures, a gold company with projects in Ontario. Bayfield Ventures was subsequently acquired by New Gold (TSX:NGD) in 2014. Throughout his career, Trimble has established and assisted in the management of numerous public and private enterprises. He has played a pivotal role in securing significant capital for mining companies, leveraging his extensive network of institutional and retail investors.
Jim Pettit currently serves as a director on the boards of various public resource companies, drawing from over 30 years of experience in the industry. His expertise lies in finance, corporate governance, management and compliance, particularly in the early-stage development of both private and public enterprises. Over the past three decades, he has primarily focused on the resource sector. Previously, he served as chairman and CEO of Bayfield Ventures, which was acquired by New Gold in 2014.
David Cates currently serves as the president and CEO of Denison Mines (TSX:DML). Before assuming the role of president and CEO, Cates was the vice-president of finance, tax, and chief financial officer at Denison. In his capacity as CFO, he played a pivotal role in the company's mergers and acquisitions activities, including spearheading the acquisition of Rockgate Capital and International Enexco. Cates joined Denison in 2008, initially serving as director of taxation before he was appointed CFO. Prior to joining Denison, he held positions at Kinross Gold and PwC with a focus on the resource industry.
Joseph Gallucci was previously a senior manager at a leading Canadian accounting firm. He possesses more than two decades of expertise in investment banking and equity research, specializing in mining, base metals, precious metals, and bulk commodities worldwide. He serves as a senior capital markets executive and corporate director. Presently, Gallucci is the managing director and head of investment banking at Laurentian Bank Securities, where he assumes responsibility for overseeing the entire investment banking practice.
Amanda Chow is a chartered professional accountant (CPA, CMA) and holds a Bachelor of Business Administration degree from Simon Fraser University. Chow commenced her career with public companies in 1999.
Dave Billard is a geologist with over 35 years of experience in exploration and development, focusing on uranium, gold and base metals in western Canada and the western US. He served as chief operating officer, vice-president of exploration, and director for JNR Resources before its acquisition by Denison Mines. He played a crucial role in the discovery of JNR’s Maverick and Fraser Lakes B zones. Earlier in his career, he contributed to the discovery and development of several significant gold deposits in northern Saskatchewan. Prior to joining JNR, Billard worked as a geological consultant specializing in uranium exploration in the Athabasca Basin. He also spent over 12 years with Cameco Corporation.
Christine McKechnie is a geologist with a specialization in uranium deposits, particularly those hosted in the basement and associated with unconformities in the Athabasca Basin and its vicinity. Throughout her career, she has worked with various companies such as Claude Resources, JNR Resources, CanAlaska Uranium and Cameco, engaging in gold and uranium exploration activities. She completed her B.Sc. (High Honors) in 2008 from the University of Saskatchewan and completed a M.Sc. thesis on the Fraser Lakes Zone B deposit at the Falcon Point project. She also received the 2015 CIM Barlow Medal for Best Geological Paper.
Sean Cross is a geologist primarily dedicated to uranium exploration, with supplementary expertise in VMS and orogenic gold deposits. Sean has been involved in various flagship projects, including Foran’s McIlvenna Bay Deposit and NexGen Energy’s Arrow Deposit. His expertise extends to greenfield uranium exploration south of the Athabasca, geological mapping with the Saskatchewan Geological Survey, and environmental and archaeological mitigation projects in British Columbia and Alberta.
Dylan Drummond is a geologist experienced in uranium and rare earth elements exploration. He has been involved in numerous prestigious projects, including NexGen Energy's prominent Arrow Deposit and Orano Canada's Cigar Lake project. Additionally, he has served in various capacities at Appia Energy Corp, ranging from on-site prospecting to supporting drill program supervision.
This profile was written in collaboration with Couloir Capital.
Ur-Energy Inc. (NYSE American:URG)(TSX:URE) (the "Company" or "Ur-Energy") invites you to attend its 2024 Q1 webcastteleconference on May 8, 2024
Ur-Energy management will provide a review of our 2024 Q1 operations and results. A Q&A session will follow the presentation.
The webcast and teleconference will be held Wednesday, May 8, 2024 at 8:00 a.m. MT / 10:00 a.m. ET. Please join us by phone or online as follows:
Toll Free Number: 888-506-0062
International Number: 973-528-0011
Provide event code 756904 or ask to join the Ur-Energy call.
The webcast can be accessed 10 minutes prior to the call. Pre-registration and participation access is available by clicking here or by copying the following URL into your web browser:
https://www.webcaster4.com/Webcast/Page/2307/50540. Following the webcast, a replay will be available at the same link.
About Ur-Energy
Ur-Energy is a uranium mining company operating the Lost Creek in-situ recovery uranium facility in south-central Wyoming. We have produced and packaged approximately 2.8 million pounds U3O8 from Lost Creek since the commencement of operations. Ur-Energy now has all major permits and authorizations to begin construction at Shirley Basin, the Company's second in situ recovery uranium facility in Wyoming and is in the process of obtaining remaining amendments to Lost Creek authorizations for expansion of Lost Creek. Ur‑Energy is engaged in uranium mining, recovery and processing activities, including the acquisition, exploration, development, and operation of uranium mineral properties in the United States. The primary trading market for Ur‑Energy's common shares is on the NYSE American under the symbol "URG." Ur‑Energy's common shares also trade on the Toronto Stock Exchange under the symbol "URE." Ur-Energy's corporate office is in Littleton, Colorado and its registered office is in Ottawa, Ontario.
FOR FURTHER INFORMATION, PLEASE CONTACT
John W. Cash, Chairman and CEO
1-720‐981‐4588 (ext 303)
John.Cash@Ur-Energy.com
SOURCE: Ur-Energy Inc.
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Alligator Energy Limited (ASX: AGE, ‘Alligator’ or ‘the Company’) is pleased to announce significant uranium mineralisation intersections from its resource extension drilling program at the Samphire Uranium Project, near Whyalla, South Australia.
Highlights
Alligator’s CEO Greg Hall stated: “We are pleased to see Blackbush deposit mineralisation extending within the immediate target areas of the current resource to the west and east initially. The resource geology team is becoming adept at finding the redox boundary between oxidised and reduced sands, and hence quickly narrowing the search for the potentially economic roll front structures. In some instances, we are aided by the great exploration work done by the predecessor company historical gamma drilling intersections.”
Samphire 2024 Drilling Program Rationale
Exploration drilling re-commenced at Samphire late January 2024 to investigate potential extensions to uranium mineralisation in the Kanaka Bed sands within the Samphire palaeochannel system surrounding the Blackbush deposit. Initial focus has been on Blackbush Extensions 1 and 2 Target Areas (Figure 2). To date, forty-nine (49) holes for 4,089m have been drilled.
For background, the palaeochannels are ancient structures eroded into the underlying granites (being the source of uranium), where the Kanaka bed sands have been deposited at approx. 60 to 80 m depth. Not all these Kanaka bed sands are mineralised. Rather the dissolved uranium moves through the sand pore spaces with the saline groundwater within sand layers until it encounters a reducing medium (e.g. pyrite, carbonaceous matter) when the uranium deposits out around the sand grains. These deposition structures are called “roll fronts” and are the main structures being targeted during resource extension drilling.
Click here for the full ASX Release
This article includes content from Alligator Energy 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.
Gladiator Resources Ltd (ASX: GLA) (Gladiator or the Company) is pleased to provide shareholders with the Company’s Activities and Appendix 5B Report for the quarter ending 31 March 2024.
HIGHLIGHTS
The Company raised $4M at $0.03 per share from a consortium of private investors led by Mr Ian Stalker, with funds to be used toward the Company’s exploration and drilling program at the Mkuju Uranium Project in Tanzania.
Preparations for drilling at the Mkuju Project in southern Tanzania commenced, with drilling expected to commence in May to test the Southwest Corner target and test potential extensions to the Mtonya and Likuyu North deposits.
Samples from shallow reconnaissance pits at Minjingu Project in northern Tanzania returned results of 202ppm and 269ppm U3O8.
URANIUM PROJECTS - TANZANIA
Figure 1. Map showing Gladiators Uranium Projects in Tanzania
MKUJU URANIUM PROJECT
The Prospecting Licenses (PLs) of the Mkuju Project cover 725 km2 as shown in Figure 2 and include two existing uranium deposits and several exploration prospects. The area is 20-30 km south of the Nyota deposit. Nyota hosts a Measured and Indicated Mineral Resource Estimate of 187 Mt at 306 ppm U3O8 containing 124.6 Mlbs U3O8. Nyota is being developed by global uranium company Uranium One. The Nyota deposit and the deposits and prospects on the Mkuju Project are underlain by continental sediments of Triassic aged sediments of the Karoo Supergroup which are considered highly prospective for uranium.
During the quarter no fieldwork was carried out as access to the area is extremely difficult during Tanzania’s wet season which typically lasts from November/December until early May. During the quarter significant progress was made in preparation for an initial 2000m drilling program planned to commence during May, to test the Southwest Corner target and test potential extensions to the Mtonya and Likuyu North deposits, summarised below with further details found in the Company’s recent ASX announcements.
Figure 2: GLA’s uranium deposits and target trends within the Mkuju Project
Click here for the full ASX Release
This article includes content from Gladiator Resources , 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.
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