08:32:56 EDT Mon 16 Sep 2019
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IsoEnergy Ltd
Symbol C : ISO
Shares Issued 55,217,368
Close 2019-04-24 C$ 0.53
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IsoEnergy starts DC resistivity survey at Larocque East

2019-04-24 07:14 ET - News Release

Mr. Craig Parry reports


A 53-line-kilometre program of DC (direct current) resistivity geophysical surveying has begun on IsoEnergy Ltd.'s 100-per-cent-owned Larocque East property. Larocque East is home to the Hurricane zone, a new discovery of high-grade uranium mineralization.

The Hurricane zone is a body of shallow (330 metres below surface), high-grade uranium mineralization located on the west side of the Larocque East property. The company recently completed the first follow-up drilling program after the discovery intersection in July, 2018. Eleven of 12 drill holes in the follow-up winter campaign intersected significant uranium mineralization. Hurricane now measures 150 m (long) by 38 m (wide) and is up to 8.5 m thick. The zone is open on all five sections drilled to date and along strike in both directions. The company remains fully financed for a follow-up drilling campaign that is planned for the summer.

Steve Blower, vice-president, exploration, commented: "The next drilling campaign at Hurricane will include more aggressive stepouts, and will therefore benefit from survey results that will help to locate conductive graphitic stratigraphy and associated alteration zones. The survey will also improve our understanding of Hurricane zone stratigraphy extensions further to the east, and other conductor systems south of Hurricane."

DC resistivity survey

There are three main objectives for the survey. The first is to fingerprint the key graphitic horizons that control mineralization at Hurricane and locate them immediately east of the Hurricane zone to aid stepout drill holes planned for the summer of 2019. Secondly, as the survey covers over five kilometres of the wide open Larocque conductor system east of Hurricane, it will be used to guide future exploration drilling programs targeting additional mineralization along this fertile belt. Finally, the survey will more accurately locate a poorly understood conductor system two kilometres south of Hurricane. This southern conductor system is parallel to the Hurricane trend, has a possible strike extent of 2.3 km on the property and has never been drilled within the property boundaries.

A total of 53 line km of surveying will be completed along survey lines spaced 200 to 400 m apart. The crew has mobilized to IsoEnergy's Larocque Lake camp and surveying has begun. The survey will take approximately one month to complete.

Larocque East

Larocque East consists of six mineral claims totalling 3,200 hectares and was purchased in May, 2018. The property is owned 100 per cent by IsoEnergy and is not encumbered by any royalties or other interests. Larocque East is immediately adjacent to the north end of IsoEnergy's Geiger property and is 35 kilometres northwest of Orano Canada's McClean Lake uranium mine and mill.

The 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 a neighbouring property to the southwest of Larocque East. The closest of these to Larocque East are the Larocque Lake and Larocque North zones, which are located 6.5 kilometres and 0.4 kilometre, respectively, to the southwest of the western Larocque East property boundary. Drilling at the Larocque Lake zone has returned historical intersections of up to 29.9 per cent U3O8 over 7.0 metres in drill hole Q22-040. Drilling at the Larocque North zone has returned intersections of up to 2.05 per cent U3O8 over 0.6 metre in drill hole Q22-16. 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 major uranium deposits in the eastern Athabasca basin. Importantly, the sandstone cover on Larocque East is thin, ranging between 140 metres and 330 metres in previous drilling.

In addition to the Hurricane zone discovery, four historical drill holes have intersected weak uranium mineralization at other locations on the Larocque East property to date.

Qualified person statement

The scientific and technical information contained in this news release was prepared by Andy Carmichael, PGeo, IsoEnergy's senior geologist, who is a qualified person (as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects). Mr. Carmichael 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. An RS-125 hand-held spectrometer was used to verify that the radioactivity is due to uranium. As the drill holes reported herein are vertical or near vertical, and the mineralization is interpreted to be horizontal, the true thickness is expected to be within 90 per cent of the cored intervals.

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 estimate 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.

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