SASKATOON, SK, Jan. 19, 2022 /CNW/ - IsoEnergy Ltd.
("IsoEnergy" or the "Company") (TSXV: ISO) (OTCQX:
ISENF) is pleased to announce that exploration plans have been
finalized for the winter 2022 season and that work has commenced.
The Company will conduct exploration work on four projects
including its flagship 100%-owned Larocque East Project, which is
home to the Hurricane zone.
Highlights:
- 11,900m of diamond drilling at Larocque East to expand
the Hurricane Zone and to further explore the Larocque Lake
conductive trend with both follow-up drilling and the drilling of
new geophysical targets on the property east of Hurricane, which
extends for roughly 8 kms.
- Ground geophysical surveys at the Geiger, Ranger and Hawk
projects, of which the surveying at Geiger is underway.
Tim Gabruch, President and Chief
Executive Officer commented: "Following the successful summer 2021
drill program, we have commenced drilling at the highly prospective
Larocque East property. IsoEnergy heads into 2022 well financed to
test expansion of the Hurricane zone, explore the prospective
Larocque Lake conductive trend, and undertake detailed analysis on
our broader portfolio of projects in preparation for drilling in
the near future.
Andy Carmichael, Vice President
of Exploration commented: "We are excited for the winter
exploration season in the Basin across our highly prospective
portfolio of uranium projects. The focus of our drilling is at
Larocque East, which will include testing the Hurricane zone
expansion target area around the mineralization intersected by
LE21-101 during our recent summer program. We will also conduct
detailed geophysical surveys over high priority, underexplored
target areas at Geiger, Ranger, and Hawk to advance those
projects to a drill-ready state."
Larocque East Project
Diamond drilling totalling 11,900m
is planned at Larocque East during the winter 2022 season.
2,400m are planned at Hurricane to
follow-up mineralization intersected by drill hole LE21-101
(4.5m >500 CPS including
0.5m >5,000 CPS). As
mineralization intersected by LE21-101 is open on strike to the
east and for 150m to the west,
follow-up is planned as a series of systematic step outs to
evaluate the potential for material expansion. Hurricane drilling
target areas are presented in Figure 2.
9,500m are planned to explore the
fertile Larocque Lake conductive trend which extends for
approximately 8km east of the Hurricane zone. This exploration
drilling will follow-up of anomalous results in existing drill
holes and test high-priority geophysical targets generated from
IsoEnergy's recent resistivity surveys. Exploration drilling target
areas are shown on Figure 3.
Re-establishment of the Larocque East winter access trail is
well underway, and drilling commenced on January 17th.
Geiger Project Geophysics
Fixed Loop Transient Electromagnetic (FLTEM) surveying got
underway at the Geiger project in mid-December and is ongoing. A
total of 10 FLTEM data profiles are planned in the Q23 and Q48
areas to upgrade historical airborne electromagnetic (EM)
conductors in advance of drill testing in 2022 through 2023. Figure
4 shows the planned survey areas.
The Q23 survey area covers a zone of low magnetic susceptibility
hosting multiple northeast-trending historical EM conductors with a
vertical depth to the unconformity of approximately 275m. The 2.5km-long survey area has been tested
by only two historical drill holes, Q23-004 and Q23-011. Q23-004
intersected favourable alteration, structure, and anomalous uranium
content in the sandstone but was lost prior to reaching the
unconformity. Four hundred metres to the southwest Q23-011
intersected zones of anomalous uranium content in the sandstone and
a narrow zone of anomalous radioactivity 10m below the unconformity attributed to
fault-hosted uranium mineralization. Four FLTEM profiles are
planned for the Q23 area.
The Q48 area is a zone of low magnetic susceptibility hosting
multiple north-northeast- to north-trending electromagnetic
conductors lying along 8km along strike from the Murphy Lake uranium occurrence (0.25%
U3O8 over 6.0m
in drill hole MP-15-03). The vertical distance to the unconformity
is approximately 250m. The 4.0km long
survey area has been tested by a single drill hole, Q48-003, which
intersected a major zone of alteration and structure in the
sandstone with coincident anomalous uranium geochemistry. Six FLTEM
profiles are planned in the Q48 area.
Ranger Project Geophysics
Ten lines of FLTEM ground geophysical surveying are planned to
advance the underexplored Ranger project to a drill-ready state.
Historical work within the western Ranger claim group has
identified numerous sub-parallel, east-northeast- to
northeast-trending conductors with a combined strike length of
approximately 20km. The approximately 4.5km x 6.0km survey area has
been tested by only five historical drill holes, all of which are
in the southeastern portion and indicate the depth to the
unconformity is between 230m and
300m. Figure 5 shows the planned
survey area.
Hawk Project Geophysics
Hawk is an early-stage project which covers 10km of a
prospective, low magnetic susceptibility corridor hosting EM
conductors interpreted to reflect graphitic metasediments. The
single existing drill hole on the project failed to intersect the
targeted conductor, indicating that the entire corridor remains
untested within the project. The vertical depth to the unconformity
is expected to be between 600m and
750m. Winter 2022 geophysical work
will consist of six lines of widely spaced FLTEM surveying to
generate targets for first-pass reconnaissance drilling. Figure 6
shows the planned survey areas.
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. All radioactivity
measurements reported herein are total gamma from an RS-125
hand-held spectrometer. As mineralized drill holes at the Hurricane
zone are oriented very steeply (-70 to -90 degrees) into a zone of
mineralization that is interpreted to be horizontal, the true
thickness of the intersections is expected to be greater than or
equal to 90% of the core lengths. 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. All
chemical analyses are completed for the Company by SRC
Geoanalytical Laboratories in Saskatoon,
SK. 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.
www.isoenergy.ca
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.