An anonymous director reports
ISOENERGY ACQUIRES 100% INTEREST IN THE RADIO PROPERTY AND COMPLETES EXPLORATION PROGRAMS AT THORBURN LAKE AND MADISON
IsoEnergy Ltd. has acquired a 100-per-cent interest in the Radio property located in the Athabasca basin, Saskatchewan, Canada. IsoEnergy previously held an option to acquire a 70-per-cent interest in the Radio property by incurring $10-million in exploration expenditures by July 5, 2017.
The 804-hectare property is a strategically located uranium exploration project two kilometres east of Rio Tinto's Roughrider deposit and is in the vicinity of several other uranium deposits, including Dawn Lake and Midwest Lake. As consideration for the property, IsoEnergy has agreed to issue an aggregate of three million common shares to the vendors, which will be subject to a statutory hold period of four months and one day from today.
During IsoEnergy's 2016/2017 drilling campaign, the company drilled 23 holes totalling 8,859 metres and encountered a large and intense basement clay alteration zone, as well as elevated uranium geochemistry.
Thorburn Lake drilling
A total of 4,512 metres of drilling was completed in 10 drill holes at Thorburn Lake. The focus of the program was to evaluate extensions of the weakly mineralized zone drilled in 2016 along strike to the northeast beneath lake ice and to evaluate geophysical anomalies generated by a DC resistivity geophysical program completed in 2016. Depth to the sub-Athabasca unconformity at Thorburn Lake ranges from 290 to 350 metres.
Although no significant mineralization was intersected, drill holes TBN17-21 and TBN17-28 extended favourable structure and graphitic units to the northeast. Additionally, coincident structure, alteration and anomalous uranium pathfinder element geochemistry in the sandstone of drill holes TBN-17-23 and TBN-17-27 suggest that it may have overshot its optimal targets. Additional drilling on this section is warranted.
Future work on the Thorburn Lake property will include follow-up drilling in the area of TBN17-23 and 27, drill evaluations of other geophysical anomalies generated in 2016, and an extension of the geophysical coverage to the southwest half of the property, which is essentially unexplored to date.
Madison geophysical surveying
A total of 20 line kilometres of DC resistivity geophysical surveying was completed at the Madison property during the period between March 28
and April 21. Results have been compiled with an airborne electromagnetic (VTEM) survey flown by the previous owner, NexGen Energy Ltd., in 2014. A preliminary interpretation of the combined data sets has resulted in several drilling targets, many of which are discrete VTEM (versatile time domain
electromagnetic) anomalies coincident with DC resistivity lows and/or magnetic lineaments. A program of core drilling at the Madison and 2Z properties is currently planned for the winter drilling season (January to March) of 2018.
Qualified person statement
The disclosure of a scientific or technical nature contained in this news release was prepared by Steve Blower, PGeo, IsoEnergy's vice-president, exploration, who is a qualified person (as defined in National Instrument 43-101 (standards of disclosure for mineral projects)). Mr. Blower has verified the data disclosed. For additional information regarding the company's Radio project, including its quality assurance and quality control procedures, please see the technical report dated effective Aug. 19, 2016, on the company's profile at SEDAR.
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.
About IsoEnergy Ltd.
IsoEnergy is a well-financed uranium exploration and development company with a portfolio of prospective projects in the eastern Athabasca basin in Saskatchewan, Canada, and a historical inferred mineral resource at the Mountain Lake uranium deposit in Nunavut. IsoEnergy is led by a board and management team with a 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.
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