SASKATOON, SK, July 26, 2021 /CNW/ - IsoEnergy Ltd.
("IsoEnergy" or the "Company") (TSXV: ISO) (OTCQX:
ISENF) is pleased to announce the Company's exploration plans for
the 2021 program. Exploration work to be completed includes diamond
drilling and ground geophysical surveying at Larocque East, diamond
drilling at Geiger, and airborne geophysical surveying at Collins
Bay Extension (Figure 1). Field crews have mobilized to the eastern
Athabasca Basin area to begin the
summer exploration program.
Tim Gabruch, Chief Executive
Officer commented: "The IsoEnergy team is excited to get back to
work in Northern Saskatchewan. The
Saskatchewan Government has done an excellent job distributing
vaccines and the situation in the province has markedly improved to
the point where all remaining public health restrictions in
Saskatchewan were lifted as of
July 11th. IsoEnergy will
continue to work responsibly in Northern
Saskatchewan with the health and safety of our employees,
contractors and Northern residents being our number one
priority.
Our exploration focus will remain on our 100% owned Larocque
East property and the Hurricane deposit in particular. With that
said, we will also expand our summer drilling program by returning
to our highly prospective Geiger property in line with IsoEnergy's
strategy of delivering a portfolio in the eastern Athabasca Basin. Prior to purchasing Larocque
East and discovering the Hurricane deposit, Geiger was a high
priority target for IsoEnergy, and we look forward to returning to
work there this summer."
Andy Carmichael, Vice President
of Exploration commented: "With diamond drilling on two high
priority projects, ground geophysics at Larocque East to develop
additional drill targets, and airborne geophysics to map key
structures at Collins Bay Extension, IsoEnergy has an exciting
exploration season planned. We have been eager to return to the
field to further delineate the Hurricane Zone and to explore other
prospective targets the team has prioritized. Drilling at Geiger
began over the weekend."
Larocque East: Diamond
Drilling and Geophysics
IsoEnergy's focus remains on its 100% owned Larocque East
project where a 53 line-kilometre DC-resistivity (DC-Res) survey
was recently completed. Covering the fertile Larocque Lake trend
from the eastern limit of the 2019 DC-Res survey to the eastern
project boundary, the survey was designed to map conductive
basement and identify zones of lower resistivity in the overlying
sandstones possibly indicative of hydrothermal alteration.
Interpretation of the survey results is underway. Figure 2 shows
the 2021 DC-Res survey area in plan view.
A 30 drill hole, 12,000 metre diamond drilling campaign is
planned at Larocque East beginning in August. Drilling has three
objectives: Expansion; Infill; and Exploration. Twelve drill holes
are planned to expand the footprint of the Hurricane zone and will
include drilling at both the western and the eastern sides of the
zone. Four infill drill holes are planned between existing drill
fences to provide valuable information on the continuity of the
higher-grade portions of the zone. Figure 3 shows the Expansion and
Infill target areas in plan view. Fourteen exploration drill holes
are planned in two target areas. The main target area is a
three-kilometre-long section of the Larocque Lake trend where
DC-resistivity signatures similar to that of Hurricane are present
and historical drilling has intersected alteration, structures,
graphitic basement, and anomalous geochemistry. The second target
area includes trends of decreased resistivity in the sandstone and
basement and is located southeast of and subparallel to the
Hurricane zone stratigraphy. Figure 2 shows the exploration target
areas in plan view.
Geiger: Diamond
Drilling
Twelve diamond drill holes totalling 4,200 metres are planned at
IsoEnergy's 100% owned Geiger project in July and August. Drilling
will target the eastern portion of the project where historical
drill holes intersected positive results. Of particular interest is
the area near historical drill hole Q34-003 which intersected
anomalous radioactivity within strongly altered basal sandstones
above structured, geochemically anomalous, graphitic basement.
Figure 4 shows the Geiger drilling area in plan view.
Collins Bay Extension: Airborne Surveying
An airborne Versatile Time-Domain Electromagnetic (VTEM) and
spectrometer survey is planned at IsoEnergy's 100% owned Collins
Bay Extension project in August. The 567 line-kilometre survey will
cover the southwestern portion of the project and is intended to
map the northeastern extensions of the Tent-Seal and Collins Bay
trends and survey for radioactive anomalies. Figure 5 shows the
airborne survey area.
Qualified Person Statement
The scientific and technical information contained in this news
release was prepared by Andy
Carmichael, P.Geo., IsoEnergy's Vice President, Exploration,
who is a "Qualified Person" (as defined in NI 43-101
– Standards of Disclosure for Mineral Projects). Mr.
Carmichael has verified the data disclosed. This news release
refers to properties other than those in which the Company has an
interest. Mineralization on those other properties is not
necessarily indicative of mineralization on the Company's
properties. For additional information regarding the Company's
Larocque East Project, including its quality assurance and quality
control procedures, please see the Technical Report dated effective
May 15, 2019, on the Company's
profile at www.sedar.com.
About IsoEnergy
IsoEnergy is a well-funded uranium exploration and development
company with a portfolio of prospective projects in the eastern
Athabasca Basin in Saskatchewan, Canada. The Company recently
discovered the high-grade Hurricane Zone of uranium mineralization
on its 100% owned Larocque East property in the Eastern Athabasca Basin. IsoEnergy is led by a
Board and Management team with a track record of success in uranium
exploration, development, and operations. The Company was founded
and is supported by the team at its major shareholder, NexGen
Energy Ltd.
Neither the TSX Venture Exchange nor its Regulations
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 shall not constitute an offer to sell or a
solicitation of any offer to buy any securities, nor shall there be
any sale of any securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The securities referenced
herein have not been, nor will they be, registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities
Act"), and such securities may not be offered or sold within
the United States absent
registration under the U.S. Securities Act or an applicable
exemption from the registration requirements thereunder.
Forward-Looking Information
The information contained herein contains "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and "forward-looking
information" within the meaning of applicable Canadian securities
legislation. "Forward-looking information" includes, but is not
limited to, statements with respect to the activities, events or
developments that the Company expects or anticipates will or may
occur in the future, including, without limitation, planned
exploration activities. Generally, but not always, forward-looking
information and statements can be identified by the use of words
such as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "believes"
or the negative connotation thereof or variations of such words and
phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved" or the negative connotation thereof.
Such forward-looking information and statements are based on
numerous assumptions, including among others, that the results of
planned exploration activities are as anticipated, the price of
uranium, the anticipated cost of planned exploration activities,
that general business and economic conditions will not change in a
material adverse manner, that financing will be available if and
when needed and on reasonable terms, that third party contractors,
equipment and supplies and governmental and other approvals
required to conduct the Company's planned exploration activities
will be available on reasonable terms and in a timely manner.
Although the assumptions made by the Company in providing
forward-looking information or making forward-looking statements
are considered reasonable by management at the time, there can be
no assurance that such assumptions will prove to be
accurate.
Forward-looking information and statements also involve known
and unknown risks and uncertainties and other factors, which may
cause actual events or results in future periods to differ
materially from any projections of future events or results
expressed or implied by such forward-looking information or
statements, including, among others: negative operating cash flow
and dependence on third party financing, uncertainty of additional
financing, no known mineral reserves or resources, the limited
operating history of the Company, the influence of a large
shareholder, alternative sources of energy and uranium
prices, aboriginal title and consultation issues, reliance on key
management and other personnel, actual results of exploration
activities being different than anticipated, changes in exploration
programs based upon results, availability of third party
contractors, availability of equipment and supplies, failure of
equipment to operate as anticipated; accidents, effects of weather
and other natural phenomena and other risks associated with the
mineral exploration industry, environmental risks, changes in laws
and regulations, community relations and delays in obtaining
governmental or other approvals.
Although the Company has attempted to identify important
factors that could cause actual results to differ materially from
those contained in the forward-looking information or implied by
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that forward-looking information and statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on
forward-looking statements or information. The Company
undertakes no obligation to update or reissue forward-looking
information as a result of new information or events except as
required by applicable securities laws.
SOURCE IsoEnergy Ltd.