SASKATOON, SK, Feb. 3, 2022 /CNW/ - IsoEnergy Ltd.
("IsoEnergy" or the "Company") (TSXV: ISO) (OTCQX:
ISENF) is pleased to announce the final assay results from its
successful summer 2021 drilling at the Hurricane zone. Hurricane is
a high-grade uranium zone located on the Company's 100% owned
Larocque East property (the "Property") in the Eastern Athabasca Basin of Saskatchewan.
Highlights:
- 6.5m averaging 20.4%
U3O8 in southern expansion drill hole
LE21-107, including 3.5m averaging
34.5% U3O8
- 7.5m averaging 4.5%
U3O8 in southern expansion drill hole
LE21-87A
- Mineralization in drill hole LE21-101 of 0.5m at 3.1% U3O8 confirms
continued expansion potential
Table 1 – Summer 2021 Drilling Program Results
Hole
ID
|
From
|
To
|
Length
|
Radioactivity1,2
|
Chemical
Assays
|
Location
|
(m)
|
(m)
|
(m)
|
(CPS)
|
U3O8(%)
|
Ni
(%)
|
LE21-783,5
|
Abandoned before
target
|
|
|
|
Section
4460E
|
LE21-78C15
|
248.5
|
260.5
|
12.0
|
>500
|
5.2
|
1.1
|
Section
4460E
|
incl.
|
253.0
|
254.0
|
1.0
|
>5,000
|
1.5
|
2.3
|
|
and incl.
|
254.5
|
255.0
|
0.5
|
>5,000
|
1.7
|
0.3
|
|
and incl.
|
257.5
|
259.5
|
2.0
|
>30,000
|
27.6
|
3.6
|
|
and incl.
|
260.0
|
260.5
|
0.5
|
>5,000
|
1.9
|
0.1
|
|
and
|
266.0
|
266.5
|
0.5
|
>5,000
|
1.9
|
0.7
|
|
LE21-805
|
325.0
|
325.5
|
0.5
|
>500
|
0.1
|
0.0
|
Section
4435E
|
and
|
326.0
|
329.5
|
3.5
|
>500
|
2.3
|
0.1
|
|
incl.
|
326.0
|
328.0
|
2.0
|
>5,000
|
4.0
|
0.2
|
|
incl.
|
326.5
|
327.0
|
0.5
|
>30,000
|
9.0
|
0.4
|
|
LE21-825
|
326.5
|
327.0
|
0.5
|
>500
|
0.2
|
0.1
|
Section
4485E
|
and
|
328.5
|
333.0
|
4.5
|
>500
|
0.9
|
7.2
|
|
incl.
|
331.0
|
332.0
|
1.0
|
>5,000
|
1.4
|
16.2
|
|
LE21-845
|
326.5
|
329.5
|
3.0
|
>500
|
0.5
|
0.6
|
Section
4435E
|
incl.
|
328.0
|
328.5
|
0.5
|
>5,000
|
1.9
|
0.2
|
|
LE21-854
|
321.5
|
322.5
|
1.0
|
>500
|
0.2
|
0.2
|
Section
4460E
|
and
|
327.0
|
327.5
|
0.5
|
>500
|
0.2
|
0.1
|
|
LE21-874
|
Abandoned before
target
|
|
|
|
Section
4460E
|
LE21-87A4
|
331.0
|
338.5
|
7.5
|
>500
|
4.5
|
8.5
|
Section
4460E
|
incl.
|
331.5
|
332.0
|
0.5
|
>5,000
|
1.5
|
16.1
|
|
and incl.
|
333.5
|
338.0
|
4.5
|
>5,000
|
6.8
|
8.1
|
|
incl.
|
334.0
|
335.0
|
1.0
|
>20,000
|
8.1
|
9.4
|
|
and incl.
|
336.0
|
338.0
|
2.0
|
>20,000
|
9.2
|
8.8
|
|
LE21-894
|
No significant
mineralization
|
|
|
|
Section
4885E
|
LE21-914
|
336.0
|
341.0
|
5.0
|
>500
|
0.7
|
1.4
|
Section
4510E
|
incl.
|
337.5
|
338.0
|
0.5
|
>5,000
|
1.7
|
0.6
|
|
and incl.
|
338.5
|
339.0
|
0.5
|
>5,000
|
1.5
|
0.9
|
|
LE21-934
|
316.0
|
316.5
|
0.5
|
>500
|
0.1
|
0.0
|
Section
4410E
|
LE21-954
|
Abandoned before
target
|
|
|
|
|
|
Section
4885E
|
LE21-95A4
|
No significant
mineralization
|
|
|
|
Section
4885E
|
LE21-974
|
Abandoned before
target
|
|
|
|
Section
4435E
|
LE21-97A4
|
No significant
mineralization
|
|
|
|
Section
4435E
|
LE21-1004
|
No significant
mineralization
|
|
|
|
Section
4635E
|
LE21-1014
|
324.5
|
329.0
|
4.5
|
>500
|
0.6
|
0.2
|
Section
4785E
|
incl.
|
327.5
|
328.0
|
0.5
|
>5,000
|
3.1
|
0.7
|
|
LE21-1034
|
330.0
|
330.5
|
0.5
|
>500
|
1.1
|
1.1
|
Section
4485E
|
and
|
331.0
|
331.5
|
0.5
|
>500
|
0.1
|
0.3
|
|
and
|
334.5
|
338.5
|
4.0
|
>500
|
0.9
|
0.5
|
|
incl.
|
337.5
|
338.0
|
0.5
|
>5,000
|
4.7
|
2.9
|
|
LE21-1054
|
339.5
|
340.0
|
0.5
|
>500
|
0.1
|
0.1
|
Section
4535E
|
LE21-1074
|
325.5
|
332.0
|
6.5
|
>500
|
20.4
|
7.9
|
Section
4485E
|
incl.
|
326.0
|
326.5
|
0.5
|
>10,000
|
6.6
|
2.5
|
|
and incl.
|
327.5
|
331.0
|
3.5
|
>30,000
|
34.5
|
11.5
|
|
Notes:
|
|
1.
|
Radioactivity is
total gamma from drill core measured with an RS-125 hand-held
spectrometer.
|
2.
|
Measurements of total
gamma cps on drill core are an indication of uranium content but
may not correlate with uranium chemical assays.
|
3.
|
LE21-78C1 is a wedged
off-cut LE21-78 at 70m
|
4.
|
Radioactivity
previously disclosed
|
5.
|
Radioactivity and
chemical assays previously disclosed
|
Tim Gabruch, President and Chief
Executive Officer commented: "Following the completion of our 2021
drilling program this past November we are pleased to release these
final assay results. These high-grade results have supported the
further growth of the Hurricane zone, and hole LE21-101 has
highlighted the continued prospectivity of Hurricane. Our
winter drilling program is now underway, and we will focus our
expansion drilling on the corridor highlighted by this hole. We are
looking forward to 2022 being an exciting year for IsoEnergy as we
aim to continue to expand the Hurricane zone and also direct
increasing attention to exploration drilling to the eastern end of
the Larocque East property. Nuclear energy is gaining increased
global support for the important role it has to play in providing
clean energy. This underscores the importance of work being done to
uncover future uranium supply sources, such as Hurricane, to fuel
these growing nuclear energy demands."
Andy Carmichael, Vice President
of Exploration commented: "The strong mineralization intersected by
LE21-107 emphasizes the J-L fault corridor's potential to host
additional uranium mineralization and, with LE21-78C1 and LE21-87A,
defines a new zone of strong mineralization on the south side of
Hurricane. The results of LE21-101 indicate the J-L fault corridor
is mineralized 300m east of LE21-107.
The primary objective of ongoing winter 2022 drilling at Hurricane
is to systematically test the eastern portion of this corridor for
significant mineralization."
Southern Expansion
LE21-107 (Section 4485E)
LE21-107 targeted the centre of a 26m gap between previously reported drill holes
LE20-71 (2.4% U3O8 over 2.0m) and LE21-82 (4.5m averaging 0.9% U3O8
including 1.0m 1.4%
U3O8). LE21-107 intersected 6.5m averaging 20.4% U3O8
from 325.5 to 332.0m, including
3.5m averaging 34.5%
U3O8 from 327.5 to 331.0m. Figures 2 and 3 show the location of the
drill hole in plan and section view, respectively.
LE21-87A (Section 4460E)
LE21-87A intersected 7.5m of
uranium mineralization from 331.0 to 338.5m averaging 4.5% U3O8
including 2.0m averaging 9.2%
U3O8 from 336.0m to 338.0m
and including 1.0m averaging 8.1%
U3O8 from 334.0m to 335.0m.
LE21-87A expanded the Hurricane zone 17m south of drill hole LE21-78C1 (12.0m averaging 5.2% U3O8
including 2.0m averaging 27.6%
U3O8), increasing width of the mineralized
footprint to at least 86m on section
4460E. Figures 2 and 4 show the location of the drill hole in plan
and section view, respectively.
LE21-103 (Section 4485E)
Drill hole LE21-103 targeted the unconformity 31m south of previously reported drill hole
LE21-82. LE21-103 intersected 4.0m of
uranium mineralization from 334.5m to
338.5m averaging 0.9%
U3O8 which includes 0.5m averaging 4.7% U3O8
from 337.5 to 338.0m. LE21-103
expanded the Hurricane zone 31m to
the south and the mineralized footprint is now at least
125m wide on section 4485E. Figures 2
and 3 show the drill hole in plan and section view,
respectively.
LE21-91 (Section 4510E)
Drill hole LE21-91 was completed to test for easterly extensions
of mineralization intersected by earlier 2021 drill holes and
targeted the unconformity 28m
northeast of LE21-82 and 47m east of
LE21-78C1. LE21-91 intersected 5.0m
averaging 0.7% U3O8 from 336.0m to 341.0m.
Figures 2 and 5 show the drill hole location in plan and section
view, respectively.
LE21-105 (Section 4535E)
Drill hole LE21-105 was completed to test for easterly
extensions of mineralization intersected by LE21-91. LE21-105
reached the unconformity 21m east of
LE21-91 at a depth of 341.5m,
intersecting 0.5m averaging 0.1%
U3O8 from 339.5 to 340.0m. Figure 2 shows the drill hole in plan
view.
Continued Growth Potential
LE21-101 (Section 4785E)
Drill hole LE21-101 tested the prospective graphitic structural
corridor bounded by the J- and L-Faults in an area that has seen
limited drilling. The drill hole intersected 4.5m of uranium mineralization from 324.5 to
329.0m averaging 0.6%
U3O8 including 0.5m averaging 3.1% U3O8
from 327.5 to 328.0m. Figures 2
and 6 show the drill hole in plan and section view,
respectively.
Defining the Zone
LE21-85 (Section 4460E)
Drill hole LE21-85 was drilled to follow up mineralization
intersected by previously reported drill holes LE20-57 (11.7%
U3O8 over 10.0m) and LE20-38 (2.0%
U3O8 over 7.5m). The drill hole intersected an upper zone
of uranium averaging 0.2% U3O8 over
1.0m from 321.5m to 322.5m
above a lower zone averaging 0.2% U3O8 over
0.5m 327.0m to 327.5m.
Figures 2 and 4 show the location of the drill hole in plan and
section view, respectively.
LE21-93 (Section 4435E)
LE21-93 was drilled to expand mineralization to the north on
section 4410E and targeted the unconformity 29m north of previously reported drill hole
LE20-42 (0.4% U3O8 over 3.0m). The drill hole intersected 0.1%
U3O8 over 0.5m
beginning at 316.0m, 13m above the unconformity. The zone of
significant mineralization is interpreted to be closed off to the
north on section 4435E. Figure 2 shows the location of drill hole
LE21-93 in plan view.
The Larocque East Property and the Hurricane Zone
The 100% owned Larocque East property consists of 33 mineral
claims totaling 16,780ha. Two of the project's claims distal to the
Hurricane zone are subject to a 2% Net Smelter Returns Royalty of
which 1% may be bought back for $1
million at IsoEnergy's discretion. Larocque East is
immediately adjacent to the north end of IsoEnergy's Geiger
property and is 35km northwest of Orano Canada's McClean Lake uranium mine and mill.
Along with other target areas, the Larocque East Property covers
a 15-kilometre-long northeast extension of the Larocque Lake
conductor system; a trend of graphitic metasedimentary basement
rocks that is associated with significant uranium mineralization at
the Hurricane zone, and in several occurrences on Cameco Corp. and
Orano Canada Inc.'s neighbouring property to the southwest of
Larocque East. The Hurricane zone was discovered in July 2018 and was followed up with 29 drill holes
in 2019, 48 drill holes in 2020, and 16 drill holes in 2021.
Dimensions are currently 375m
along-strike, up to 125m wide, and up
to 12m thick. The zone is open for
expansion along-strike to the east and to the north and south on
some sections. Mineralization is polymetallic and commonly
straddles the sub-Athabasca
unconformity 320m below surface. The
best intersection to date is 38.8%
U3O8 over 7.5m in drill hole LE20-76. Drilling at Cameco
Corp.'s Larocque Lake zone on the neighbouring property to the
southwest has returned historical intersections of up to 29.9%
U3O8 over 7.0m in drill hole Q22-040. Like the nearby
Geiger property, Larocque East is located adjacent to the
Wollaston-Mudjatik transition zone - a major crustal suture related
to most of the uranium deposits in the eastern Athabasca Basin. Importantly, the sandstone
cover on the Property is thin, ranging between 140m and 450m in
previous drilling.
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.
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.