Tisdale Clean Energy (CSE:TCEC) focuses on uranium exploration and development by exploring 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.
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.
he South Falcon East is the company’s flagship uranium project where outcrop grab samples from 2008 to 2011 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. 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.
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Tisdale Clean Energy’s land position in the prolific Athabasca Basin with proven resources places the company in an ideal position to leverage a rapidly expanding uranium market.
Tisdale Clean Energy (CSE:TCEC,OTC:TCEFF,FSE:T1KC) 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).
The company benefits from the expertise 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.
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Terra Clean Energy Corp. has announced a consolidation of its issued and outstanding common shares on the basis of one (1) post-consolidated common share for every four (4) pre-consolidated common shares.
As a result, the outstanding shares of the company have been reduced to approximately 9,922,436 common shares.
The name and symbol will not change.
Please note that all open orders will be canceled at the close of business on December 3, 2024. Dealers are reminded to re-enter their orders taking into account the share consolidation.
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Terra Clean Energy Corp. a annoncé une consolidation de ses actions ordinaires émises et en circulation sur la base d'une (1) action ordinaire post-consolidée pour quatre (4) actions ordinaires pré-consolidées.
En conséquence, le nombre d'actions en circulation de la société a été réduit à environ 9 922 436 actions ordinaires.
Le nom et le symbole ne changeront pas.
Veuillez noter que toutes les commandes ouvertes seront annulées à la fermeture des bureaux le 3 décembre 2024. Il est rappelé aux concessionnaires de ré-saisir leurs commandes en tenant compte de la consolidation des actions.
| Trading on a Consolidated Basis/Négociation sur une Base Consolidée : | le 4 DEC 2024 |
| Record Date/Date d'Enregistrement : | le 4 DEC 2024 |
| Anticipated Payment Date/Date de Paiement Prévue : | le 4 DEC 2024 |
| Symbol/Symbole : | TCEC |
| NEW/NOUVEAU CUSIP : | 88100M 20 4 |
| NEW/NOUVEAU ISIN : | CA 88100M 20 4 0 |
| Old/Vieux CUSIP & ISIN : | 88100M105/CA88100M1059 |
If you have any questions or require further information please contact Listings at (416) 367-7340 or E-mail: Listings@thecse.com
Pour toute question ou information complémentaire, veuillez contacter Listings au 416 367-7340 ou par courriel à: Listings@thecse.com
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Tisdale Clean Energy Corp. has announced a name change to Terra Clean Energy Corp.
Shares will begin trading under the new name and with a new CUSIP number on October 3, 2024.
The symbol will remain the same.
Disclosure documents are available at www.thecse.com.
Please note that all open orders will be canceled at the end of business on October 2, 2024. Dealers are reminded to re-enter their orders.
_________________________________
Tisdale Clean Energy Corp. a annoncé un changement de nom Terra Clean Energy Corp.
Les actions commenceront à être négociées sous le nouveau nom et avec un nouveau numéro CUSIP le 3 octobre 2024
Le symbole restera le même.
Les documents d'information sont disponibles sur www.thecse.com.
Veuillez noter que toutes les commandes ouvertes seront annulées à la fin des activités le 2 octobre 2024. Les concessionnaires sont priés de saisir à nouveau leurs commandes.
| Effective Date/ Date Effective : | le 3 OCT 2024 |
| Symbol/ Symbole : | TCEC |
| New CUSIP/ Nouveau CUSIP : | 88100M 10 5 |
| New ISIN/ Nouveau ISIN : | CA 88100M 10 5 9 |
| Old/Vieux CUSIP & ISIN : | 88825J106/CA88825J1066 |
If you have any questions or require further information, please contact Listings at (416) 367-7340 or E-mail: Listings@thecse.com
Pour toute question, pour obtenir de l'information supplémentaire veuillez communiquer avec le service des inscriptions au 416 367-7340 ou par courriel à l'adresse: Listings@thecse.com
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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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Highlights:
AR3 Managing Director and CEO, Travis Beinke, said:
“The intersection of a shallow uranium occurrence in OV047 is a significant step forward in our exploration program at Overland. The identification of shallow mineralisation, coupled with the confirmation of the palaeovalley's southern extension, underscores and reinforces the - potential of this project.
Our systematic approach to exploration and targeted drilling, continues to deliver results. We are excited to accelerate our follow up drilling to further delineate the extent of this new uranium occurrence and test the numerous high-priority targets we have identified. We look forward to reporting further results as we continue our drilling program through to the end of April."
Figure 1: Strip log displaying drillhole OV047 lithology, natural gamma responses (cps) and pXRF uranium responses (ppm U). In relation to the disclosure of pXRF results, the Company cautions that estimates of uranium elemental abundance from pXRF results should not be considered a proxy for quantitative analysis of a laboratory assay result. Assay results are required to determine the actual widths and grade of the mineralisation. The company uses an Olympus Vanta M Series portable X-ray Fluorescence (pXRF) analyzer to screen Air Core drilling samples for mineralization prior to submitting samples to a commercial laboratory for assay. This provides an initial understanding of the mineralization distribution before sampling, ensuring submitted samples are representative of the targeted mineralization. While pXRF confirms the presence of mineralization, it does not accurately determine elemental concentrations due to limitations such as a small analysis window, uneven distribution, shallow penetration depth, and irregular surfaces. The pXRF results are indicative and the pXRF readings are subject to confirmation by chemical analysis from an independent laboratory.
The 2025 program, which began 30 January 2025, has focused on mapping the newly defined palaeovalley (refer ASX release 21 January 2025) further south within EL7001 and onto the Sheer Gold Farm-In tenure, EL66783. A total of 22 drillholes has been completed, totaling 3,010 meters, illustrated in Figure 2.
Target 1 of EL6678, drillhole OV047 has intersected a 6 meter interval containing anomalous gamma and pXRF Uranium (U) responses. Gamma responses peaked at 741 counts per second (cps), with maximum pXRF uranium response of 105ppm U. This surficial uranium occurrence is similar to uranium mineralisation found in Namibia’s surficial uranium deposits, like Paladin Energy’s Langer Heinrich Mine. Similar calcrete-hosted deposits are also found in Western Australia4 at Cameco Corporation’s Yeelirrie deposit and Toro Energy’s Wiluna project.
The identification of another potential uranium occurrence model at Overland highlights the region’s fertility, where uranium in solution enters the basin and is captured at various geochemical interfaces within the sedimentary sequences. Drillhole OV047 shows anomalous uranium responses over a 6 meter interval from 27 meters and displayed the highest gamma response yet seen at the base of oxidation interface with reduced sediments. These findings suggest potential for both deeper palaeochannel hosted, in-situ recoverable (ISR) deposits and shallow surficial deposits in this setting.
Click here for the full ASX Release
This article includes content from Australian Rare Earths, 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.
Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (" Western " or the " Company ") is pleased to provide an update of its operational strategy and ongoing developments at the Mustang Mineral Processing Site and Maverick Minerals Processing Site, positioning the Company as a key player in the regional uranium and vanadium processing sector.
In October 2024, Western successfully acquired the Mustang Mineral Processing Site (formerly the Pinon Ridge Mill Site), a move that significantly enhances the Company's capabilities and processing infrastructure. The acquisition includes all historical data and equipment utilized for the site's previous successful licensing application. The Colorado Department of Public Health and Environment (CDPHE) has issued a license for this facility twice, underscoring the site's compliance with stringent regulatory requirements. This site is located approximately 25 miles from Western's Sunday Mine Complex mining operations in Colorado.
The Mustang Mineral Processing Site boasts significant infrastructure already in place to support long-term operations. Key features include:
In addition to developing the Mustang Mineral Processing Site ("Mustang"), Western is advancing its Maverick Minerals Processing Site ("Maverick") as a key kinetic separation hub. This strategic initiative will enable the processing of regional ore, upgrading lower-grade materials to economic levels for transport from Maverick to the Mustang facility. By optimizing ore grades before transportation, Western enhances the viability of multiple regional mines, further strengthening the uranium and vanadium supply chain. Maverick is located approximately 4 miles from Western's San Rafael Project in Utah.
Western's CEO, George Glasier stated "The acquisition and development of the Mustang Mineral Processing Site is a transformative step for Western, reinforcing our commitment to strengthen the uranium and vanadium industry in the region to meet the growing demand for these critical minerals."
Western Uranium & Vanadium remains focused on executing its strategic initiatives, ensuring sustainable and efficient mineral processing, and advancing projects that enhance shareholder value and domestic industry production.
About Western Uranium & Vanadium Corp.
Western Uranium & Vanadium Corp. is ramping-up high-grade uranium and vanadium production at its Sunday Mine Complex. In addition to the flagship property located in the prolific Uravan Mineral Belt, the production pipeline also includes conventional projects in Colorado and Utah. The Mustang Mineral Processing Site is being licensed and developed for mined material recovery and will incorporate kinetic separation to optimize economics.
Cautionary Note Regarding Forward-Looking Information: Certain information contained in this news release constitutes "forward-looking information" or "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking statements"). Statements of that nature include statements relating to, or that are dependent upon: the Company's expectations, estimates and projections regarding the Offering and exploration and production plans and results; the timing of planned activities; whether the Company can raise any additional funds required to implement its plans; whether regulatory or analogous requirements can be satisfied to permit planned activities; and more generally to the Company's business, and the economic and political environment applicable to its operations, assets and plans. All such forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond the Company's ability to control or predict. Please refer to the Company's most recent Management's Discussion and Analysis, as well as its other filings at www.sec.gov and/or www.sedarplus.com , for a more detailed review of those risk factors. Readers are cautioned not to place undue reliance on the Company's forward-looking statements, and that these statements are made as of the date hereof. While the Company may do so, it does not undertake any obligation to update these forward-looking statements at any particular time, except as and to the extent required under applicable laws and regulations.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT :
Grant Glasier
Vice President Marketing and Project Development
303-808-3306
grantg@western-uranium.com
George Glasier
President and CEO
970-864-2125
gglasier@western-uranium.com
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In the current strong market dynamic for uranium, Skyharbour Resources is a compelling investment opportunity driven by its large portfolio of exploration assets in Canada’s most prolific uranium district in the Athabasca Basin.
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. With 439 reactors operating globally, 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
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 recently completed a winter drill program which consisted of 2,800m of drilling at the project which focused on infill/expansion drilling at the Main Maverick Zone.Assay results from the program intersected 5 metres of 4.61 percent U3O8 from a relatively shallow downhole depth of 265.5 metres to 270.5 metres including 10.19 percent U3O8 over 1 metre at the Main Maverick Zone from hole ML24-08. Skyharbour will continue to advance Moore through a 2,500 metre summer drill program, which has recently been completed, with assays pending.
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 73,314 hectares, strategically positioned between Cameco’s Key Lake and McArthur River projects. Skyharbour has completed its earn-in requirements for an option agreement with Rio Tinto and has now acquired 57.7 percent ownership interest in the Russell Lake 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.
Drilling at Russell in 2024 was completed in two separate phases with a total of 3,094 metres drilled in six holes. Phase One of drilling resulted in the best intercept of uranium mineralization historically on the property from hole RSL24-02, which returned a 2.5 metre wide intercept of 0.721 percent U3O8 at a relatively shallow depth of 338.1 metres, including 2.99 percent U3O8 over 0.5 metres at 339.6 metres just above the unconformity in the sandstone. The second phase of drilling was recently completed which totalled approximately 4,500 metres, with assays pending.
Skyharbour has recently commenced its 2025 drilling program at the Russell Lake project with a first phase consisting of approximately 5,000 metres to follow up on notable recent exploration success and to test new targets developed by the geological team. The focus for this phase of drilling will be on the Fork and Sphinx targets within the broader Grayling target area, as well as the M-Zone Extension target and the Fox Lake Trail target. This initial winter program will consist of 10 to 12 drill holes, with most of the targets being road accessible and near the exploration camp, bringing the drill costs down.
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 percent 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.
North Shore has collected multiple samples from two of the first three uranium prospects drilled at its 55,699-hectare Falcon property in 2024. The samples returned anomalous uranium values of greater than 300 ppm U3O8 and up to a maximum of 572 ppm U3O8. An exploration permit has been secured for the project, which will allow North Shore to conduct exploration activities at the property, including prospecting and ground geophysics, trail and drill site clearing, line cutting, drilling of up to 75 exploration drill holes and storage of drill core.
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 Terra Clean Energy (previously Tisdale). Terra 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. The company also completed the winter 2024 diamond drill program of 1,086 meters of drilling in four diamond drill holes and results indicated the following:
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 between Skyharbour and Dixie Gold, with Skyharbour retaining 25.6 percent.
Orano Canada has completed a geophysical programat the 49,635-hectare Preston uranium project which included a ground electromagnetic survey (ML-TEM) and a ground gravity survey. Orano is now preparing for exploration program which will consist of a planned 6,000 to 7,000 metre, helicopter-supported diamond drill program in approximately 26 holes at an average depth of 250 metres during the summer of 2025. Primary drill target areas include the previously untested Johnson Lake grid as well as the Canoe Lake grid; with the possibility of testing the recently surveyed FSAN-North and the West Preston Grids.
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 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.
The South Dufferin Project totals 13,205 hectares covering 10 claims and is located immediately south of the southern margin of the Athabasca Basin in northern Saskatchewan. The property covers the southern extension of the Virgin River Shear Zone, which hosts known high-grade uranium mineralization at Cameco Corp.'s Dufferin Lake zone approximately 13 kilometres to the north (highlight drill results of 1.73 percent U3O8 over 6.5 metres) and Cameco Corp.'s Centennial deposit approximately 25 kilometres to the north (includes drill intersections up to 8.78 percent U3O8 over 33.9 metres).
The Bolt Project consists of two contiguous claims 100 percent owned by Skyharbour Resources Ltd. totalling 4,726 hectares and is located approximately 7 km west of the Highway 914 and about 32 km southwest of Cameco’s Key Lake Operation (which produced 209.8 million pounds of U3O8 at an average grade of 2.32 percent U3O8 from 2 deposits, where ore from the McArthur River mine is currently processed).
A definitive agreement was recently signed in October of 2024 with UraEx Resources to earn an initial 51 percent and up to 100 percent of both the South Dufferin and Bolt Projects, collectively. For an initial 51 percent, UraEx will issue common shares having an aggregate value of C$1.15 million, make total cash payments of $450,000, and incur $3 million in exploration expenditures on both the South Dufferin and Bolt properties over a 3 year period. UraEx has an option to acquire the remaining 100 percent by issuing common shares having an aggregate value of C$2.5 million, making cash payments of $1.2 million and incurring $1.5 million in exploration expenditures over an additional two-year period.
In addition to the projects being advanced by Skyharbour and its partners, the company has 21 additional 100 percent 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.
Brady Rak is a seasoned investment professional who has focussed on the Canadian capital markets over his 13-year career at several independent broker dealers including Ventum Financial, Salman Partners and Union Securities. As a registered investment advisor in the private client division of Ventum Financial, Brady has been involved in advising high-net-worth and corporate clients, structuring transactions, raising capital and navigating global market sentiment. Brady graduated from Northwood University with a BBA in Management and holds his Options license.
A recognized geoscientist with decades of experience in uranium exploration and development, Serdar Donmez has played an active role in numerous grassroots and advanced uranium exploration projects in northern Saskatchewan and Zambia. Donmez has an engineering degree in geology and is a registered professional geoscientist with the Association of Professional Engineers and Geoscientists of Saskatchewan. During his 17-year tenure at Denison Mines, Donmez was pivotal in advancing numerous uranium exploration and development projects. He was involved in various capacities with the Phoenix and Gryphon uranium deposits on Denison's Wheeler River project, from initial discovery to the completion of the feasibility study in 2023. As resource geology manager, he was integral to the development of mineral resource estimates and NI 43-101 technical reports for several advanced exploration projects in the Athabasca Basin. Additionally, he was part of a team exploring the application of in-situ recovery mining techniques for high-grade uranium deposits in the Athabasca Basin.
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.