Mr. Craig Parry reports
ISOENERGY PROVIDES URANIUM EXPLORATION UPDATE
IsoEnergy Ltd. has provide an update on its uranium exploration activities in the Eastern Athabasca basin of Saskatchewan. These activities include the completion of a program of direct current resistivity geophysical surveying at its Thorburn Lake property and the identification of key drilling targets at its newly acquired Geiger property. The company is also reassessing its exploration plans and targets on its Radio property in light of the recent discovery of high-grade mineralization by Denison Mines Corp. and a Korean consortium at their Huskie zone, 1.6 kilometres to the west of the property boundary. Thorburn Lake, Geiger and Radio are all 100 per cent owned by IsoEnergy and are located near active uranium mining and milling infrastructure in the heart of the Eastern Athabasca basin.
Craig Parry, the company's chief executive officer, commented: "I'm very pleased to report on recent activities and plans for our exploration programs in coming months. Our team has been working hard to progress our high-priority Thorburn and Radio properties, compile the historic data on our newly acquired Geiger property and plan a major drilling program there."
Steve Blower, the company's vice-president, exploration, commented: "Two thousand eighteen promises to be an exciting exploration year for IsoEnergy. The recently completed Thorburn Lake geophysical survey should add to our inventory of drill targets. We are also looking forward to our inaugural drilling program at the Geiger property during the upcoming winter drilling season which is designed to locate extensions of high-grade basement-hosted mineralization intersected in historic programs."
Thorburn Lake consists of two claims totalling 2,802 hectares and is located seven kilometres east of Cameco Corp.'s Cigar Lake uranium mine. An image on the company's website shows the location of Thorburn Lake relative to the Cigar Lake mine, other uranium occurrences, and key infrastructure in the area including a power line and the Cigar Lake to McClean Lake ore haul road, both of which traverse the western half of the property.
Despite the presence of several high-grade uranium mines and occurrences in the immediate area, only limited exploration has been completed on the property to date, most of which has focused on following up mineralization drilled in 2008 and 2011 along the eastern end of the southern property boundary. This mineralization includes 0.43 per cent triuranium octoxide (U3O8) over 0.6 metre in 2011 drill hole TBN-11-05a. Depth to the sub-Athabasca unconformity at Thorburn Lake ranges from 290 to 350 metres.
A total of 49.5 line kilometres of DC resistivity geophysical surveying have been completed as part of the current survey, on grid lines spaced 200 metres apart. An image on the company's website shows the surveyed area, constituting a large portion of the western half of Thorburn Lake. The program extended geophysical coverage to the southwest of the area surveyed in 2016 and is designed to initiate exploration on the western half of the property and add drilling targets to the company's Thorburn Lake inventory for potential evaluation in 2018.
The entire western half of the Thorburn Lake property is essentially unexplored, due in part to the presence of a 138-kilovolt power line that supplies power to the entire Eastern Athabasca region. The power line effectively sterilizes a large portion of the property from electromagnetic geophysical surveying, a common tool for locating drill targets in the Athabasca. DC resistivity surveying, however, is unaffected by power line noise and is at least equally capable of locating drill targets.
Data are now being compiled with existing datasets and interpreted. Results are expected by the end of November.
In addition to the work at Thorburn Lake, the company continues to advance its other high-priority projects. Focus in recent months has been the integration of the Geiger property into the company's portfolio. As reported on Aug. 2, 2017, Geiger is located 13 kilometres northwest of IsoEnergy's Radio property near several uranium deposits, mines and mills. The Roughrider and Midwest deposits are both within 20 kilometres of the Geiger property, as is AREVA'S McClean Lake uranium mine and mill. A review of all data from the property has led to the identification of several high-priority targets. Preparation is well under way for follow-up work that will include a winter core drilling program planned for the January to March, 2018, drilling season to evaluate extensions of the mineralization intersected in historic drill holes and other targets. The best result from historic drilling at Geiger is a basement-hosted intersection of 2.74 per cent U3O8 over 1.2 metres in drill hole HL-50.
The discovery of high-grade basement-hosted uranium mineralization by Denison Mines Corp. and a Korean consortium at their Huskie zone on the Waterbury Lake project has implications for exploration targeting at Radio. The Huskie zone is located just 1.6 kilometres west of the Radio property boundary and is hosted by structures that may continue east on to Radio. That part of Radio that is underlain by these potential structures has been evaluated with only two wide-spaced (400 metres) fences of drill holes, neither of which extended far enough north to fully evaluate the area. Further, results of previous geophysical surveys suggest the presence of weak resistivity low anomalies in the area that could represent clay-altered fault zones similar to those reported at Huskie.
IsoEnergy looks forward to providing further updates as exploration progresses.
Qualified person statement
The scientific and technical information 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.
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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