TORONTO, Aug. 15,
2024 /CNW/ - IsoEnergy Ltd. ("IsoEnergy" or the
"Company") (TSX: ISO) (OTCQX: ISENF) is pleased to provide
an update on its summer exploration program at the Larocque East
Project (the "Project"), located in the eastern Athabasca Basin (Figure 1). The Company has
successfully completed Ambient Noise Tomography ("ANT")
surveys covering an additional 20 km2 constituting the
remaining eastern extent of the property not previously covered.
The surveys outlined six additional highly prospective target areas
on strike of the Hurricane deposit to the east. To date, 23 diamond
drill holes of the planned 27-hole program have been completed as
part of the ongoing summer exploration program, totaling 9,660
meters, the results of which will be forthcoming on completion of
the program anticipated in late August.
Highlights:
- ANT Surveys Underpinned by Proven Results at the Hurricane
Deposit – ANT continues to be a critical tool for guiding
exploration across the Project. Initially tested over the Hurricane
deposit, the surveys successfully traced a low-velocity response
that correlated with alteration and structural disruption seen in
pre-discovery drilling by previous owner Cameco Corporation and
IsoEnergy's discovery drilling (Figure 2).
- ANT Survey Coverage Over the Full Eastern Extent Now
Complete – Between May and August
2024, ANT surveys covered 20 km2 and over 7 kms
of the prospective conductor corridor to the east of the Hurricane
deposit, designed to assess the remaining eastern extent of the
property which has seen limited previous drilling.
- Survey Results Identified Six New Drill Targets – Newly
identified targets from E through J, within two conductor corridors
trend east-northeast and merge in apparent fold closure on the east
end of the property as shown in Figure 3.
- Expanded Summer Drilling Program to Test New Targets –
Summer drilling at the Project to date has focused on target areas
defined by the 2023 ANT surveys (Areas A – D). With the ANT results
from the 2024 surveys in hand, the Company intends to expand the
current program and test the new target areas (Areas E – J) (Figure
3).
- Early Results Showing Strong Hydrothermal Alteration,
Typically Associated with Uranium Mineralization – Drilling ANT
target areas A, B and D have confirmed a strong correlation between
low-velocity zones and alteration and structural disruption.
Alteration, structural disruption and graphitic-pyritic basement
units intersected in holes (Figures 4 to 8) continue to indicate
that the Hurricane conductor corridor east of the deposit remains
highly prospective.
Dr. Darryl Clark, Executive Vice
President Exploration and Development, commented, "As our summer
exploration program continues, we are encouraged by the recent ANT
survey results, which highlight that the potential of the
mineralizing system extends further to the east than was identified
by historical exploration at Larocque East, uncovering numerous
high-priority targets. We have now confirmed that the overall
hydrothermal system extends over a proven strike length of more
than 9 kms along a known conductor corridor, which hosts our
high-grade Hurricane deposit. Reconnaissance drill testing of the
new anomalies is already underway, with early results showing
strong hydrothermal alteration in both the sandstone and
basement—an indicator typically associated with uranium
mineralization in the Athabasca
Basin. Furthermore, it's common in the Athabasca Basin for these large uranium
mineralizing systems to contain multiple deposit zones at the
unconformity as well as transitioning into the basement. We believe
this underscores the significant residual prospectivity of the
Larocque East Project, as there remains a vast amount of untested
potential."
Qualified Person Statement
The scientific and technical information contained in this news
release was reviewed and approved by Dr. Darryl Clark, P.Geo., IsoEnergy's Executive Vice
President, Exploration and Development, who is a "Qualified Person"
(as defined in NI 43-101 – Standards of Disclosure for Mineral
Projects).
For additional information regarding the Company's Larocque East
Project, including its quality assurance and quality control
procedures applied to the exploration work described in this news
release, please see the Technical Report titled "Technical Report
on the Larocque East Project, Northern
Saskatchewan, Canada" dated August 4,
2022, on the Company's profile at www.sedarplus.ca.
About IsoEnergy Ltd.
IsoEnergy Ltd. (TSX: ISO) (OTCQX: ISENF) is a leading, globally
diversified uranium company with substantial current and historical
mineral resources in top uranium mining jurisdictions of
Canada, the U.S., Australia, and Argentina at varying stages of development,
providing near, medium, and long-term leverage to rising uranium
prices. IsoEnergy is currently advancing its Larocque East Project
in Canada's Athabasca Basin, which is home to the
Hurricane deposit, boasting the world's highest grade Indicated
uranium Mineral Resource.
IsoEnergy also holds a portfolio of permitted, past-producing
conventional uranium and vanadium mines in Utah with a toll milling arrangement in place
with Energy Fuels Inc. These mines are currently on stand-by, ready
for rapid restart as market conditions permit, positioning
IsoEnergy as a near-term uranium producer.
www.isoenergy.ca
Neither the TSX Exchange nor its Regulations Services
Provider (as that term is defined in the policies of the TSX
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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, the anticipated results thereof and the
anticipating timing for reporting of such results. 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 and will be
reported when 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, 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 and the risk factors with respect to the Company set out
in the Company's filings with the Canadian securities regulators
and available under IsoEnergy's profile on SEDAR+ at
www.sedarplus.ca.
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.
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SOURCE IsoEnergy Ltd.
