Mr. Craig Parry reports
ISOENERGY INTERSECTS ADDITIONAL ELEVATED RADIOACTIVITY AT THE GEIGER URANIUM PROPERTY
IsoEnergy Ltd. has intersected a second zone of elevated radioactivity during a core drilling program at its 100-per-cent-owned Geiger property in the eastern Athabasca basin region of Saskatchewan.
The additional zone of elevated radioactivity has been intersected in drill hole GG18-09. GG18-09 is located 1.7 kilometres southwest of drill hole GG18-08, which recently intersected a zone of elevated radioactivity reported in a news release dated March 5, 2018. The elevated radioactivity in GG18-09 is relatively thick and straddles the sub-Athabasca unconformity. Radioactivity measured with a 2PGA-1000 total gamma down-hole probe averages 1,370 counts per second over 19.3 metres from 203.1 to 222.4 metres. The maximum probe value within the interval is just over 7,300 cps. The zone of elevated radioactivity is associated with well-developed and locally massive clay alteration and significant core loss. Analysis of the recovered drill core with a hand-held spectrometer indicates the radioactivity is due to uranium, but geochemical analysis is needed for final confirmation. The drill core has been sampled and geochemical results are pending.
Drill hole GG18-09 is a 50-metre stepout (along strike to the southwest) from historic mineralized drill hole HL-50. HL-50 intersected 2.7 per cent triuranium octoxide over 1.2 metres in basement gneiss just beneath the base of the Athabasca sandstone. The closest drill hole along strike to the southwest is located 150 metres to the southwest and likely missed the target horizon given the reported basement geology. Therefore, the mineralized zone is wide open to the southwest and at depth. With the completion of drill hole GG18-09, the winter drilling program at Geiger is now complete. A summer core drilling program to follow up on the results in drill holes GG18-08 and GG18-09 is being planned.
Craig Parry, chief executive officer, commented: "I'm very pleased with the results from IsoEnergy's maiden drilling program on the Geiger property, which was only acquired late last year. With two zones of elevated radioactivity and strong alteration which is open in several directions, follow-up drilling during the summer season is clearly warranted on the property."
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). 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.
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 historic inferred mineral resource estimate at the Mountain Lake uranium deposit in Nunavut.
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