13:41:09 EDT Sun 20 Oct 2019
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IsoEnergy Ltd
Symbol C : ISO
Shares Issued 68,363,868
Close 2019-06-18 C$ 0.48
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IsoEnergy starts drilling at Larocque East

2019-06-19 06:10 ET - News Release

Mr. Craig Parry reports

ISOENERGY BEGINS HURRICANE URANIUM ZONE SUMMER DRILLING PROGRAM

IsoEnergy Ltd. has commenced a program of follow-up core drilling targeting extensions of the newly discovered Hurricane zone uranium mineralization at its 100-per-cent-owned Larocque East property in the Eastern Athabasca basin of Saskatchewan.

Highlights:

  • Drilling has begun with the collaring of drill hole LE19-14.
  • No mobilization of equipment was required -- all drilling equipment and a cache of fuel were left on site after the winter program.
  • No helicopter is required, as there are no lakes over the Hurricane zone or target areas.

Steve Blower, vice-president, exploration, commented: "Drilling this summer on the Hurricane zone should be exciting as we evaluate the potential to expand the zone to the east and target thicker and higher-grade intersections within the current drill pattern. Our technical team on site, led by Andy Carmichael, IsoEnergy's senior geologist, have done a terrific job preparing for and initiating the program."

Craig Parry, chief executive officer, commented: "Our summer drill program is our most significant drill program to date, and we look forward to reporting on results over the coming months. Hurricane is in an excellent location, at a relatively shallow depth, not covered by any bodies of water and is within 40 kilometres of the modern, high-grade McClean Lake uranium mill that currently has excess capacity. The program will be going ahead at an important time for the uranium industry with a number of potential catalysts for improving uranium prices set to emerge in coming months."

The drilling program

The planned drilling program consists of 6,700 metres of core drilling in 16 drill holes. The primary objective is to expand the Hurricane zone to the east of the current drilling pattern with 10 to 12 drill holes completed on aggressive 100 to 200 m stepouts along strike. Many of these stepout drill holes will also be completed deep into the basement to locate potential basement-hosted mineralization. The remainder of the drill holes will evaluate the potential for thicker and higher-grade intersections within the current drill pattern.

Access to the Larocque East camp, located approximately one kilometre from the drill site, will be by float plane. All equipment necessary for drilling and moving the drill between collar sites, including fuel, was left on site after the recently completed winter program. Additionally, with no lakes or wetlands in the area of the Hurricane zone or the area to be drilled this summer, all currently planned drill sites can be reached on the ground without a helicopter.

The Larocque East property

The property consists of 20 mineral claims totalling 8,371 hectares. The original portion was purchased in May, 2018, before being expanded by recent staking. 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.

Along with other target areas, 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 Cameco Corp.'s neighbouring property to the southwest of Larocque East. The Hurricane zone was discovered in July, 2018, and was recently followed up with a 12-hole drilling campaign in the winter of 2019. Eleven of those 12 drill holes intersected substantial uranium mineralization, including 10.4 per cent triuranium octoxide (U3O8) over 3.5 m in drill hole LE19-02 and 3.2 per cent U3O8 over 8.5 m in drill hole LE19-12. Drilling at Cameco Corp.'s Larocque Lake zone on the neighbouring property to the southwest has returned historical intersections of up to 29.9 per cent U3O8 over 7.0 metres in drill hole Q22-040. 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 the property 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 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. For additional information regarding the company's Larocque East project, including its quality assurance and quality control procedures, please see the technical report dated effective May 15, 2019, on the company's profile at SEDAR.

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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