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IsoEnergy Ltd
Symbol C : ISO
Shares Issued 68,363,868
Close 2019-06-24 C$ 0.48
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IsoEnergy hits 5.5 m of U mineralization at Larocque

2019-06-25 06:09 ET - News Release

Mr. Steve Blower reports

ISOENERGY INTERSECTS 5.5M OF URANIUM MINERALIZATION IN FIRST DRILL HOLE OF SUMMER PROGRAM AT THE HURRICANE ZONE

IsoEnergy Ltd. has released intersections of uranium mineralization in the first drill hole at its 100-per-cent-owned Larocque East property in the eastern Athabasca basin of Saskatchewan.

Highlights:

  • Drill hole LE19-14B intersected a 2.0-metre-thick upper zone of sandstone-hosted mineralization from 323.0 to 325.0 m.
  • The upper zone is followed by a 3.5 m thick lower zone of dominantly sandstone-hosted mineralization sitting on top of the sub-Athabasca unconformity from 327.5 to 331.0 m.
  • Fifteen planned drill holes remain in the fully financed summer program.

Steve Blower, vice-president of exploration, commented: "This intersection in drill hole LE19-14B helps to confirm the continuity of mineralization within the Hurricane zone and is a good start to the summer program. We look forward to completing aggressive stepout drill holes to the east with most of the remaining planned metres. As well, three to four drill holes will be devoted to infill drilling within the current Hurricane zone footprint."

Drill hole LE19-14B

Drill hole LE19-14B is vertically oriented and designed to intersect the Hurricane zone midway between drill holes LE19-08 and LE19-09. After penetrating 41 m of overburden followed by Athabasca sandstone, the unconformity was intersected at 330.9 m. The lower sandstone was intensely bleached, desilicified and clay altered below 230.0 m. An upper interval of sandstone-hosted uranium mineralization (greater than 1,000 counts per second on an RS-125 hand-held spectrometer) was intersected at 323.0 to 325.0 m, and was followed by a lower zone of dominantly sandstone hosted mineralization (greater than 1,000 cps) from 327.5 to 331.0 m that sits on top of the sub-Athabasca unconformity. The associated table compares the radioactivity in LE19-14B against the intersections from the recently completed winter program. An image on the company's website shows the location of the drill hole on a plan view and another image shows the location on a cross-section.

Next steps

Fifteen planned drill holes remain in the fully financed summer drilling program. The next drill hole, LE19-15, will be completed as an undercutting, angled drill hole on the first stepout fence east of drill hole LE19-13. Drill hole LE19-15 will locate the key basement graphitic units and structures beneath the projected extension of the Hurricane zone. It will be followed by a vertical drill hole aimed to intersect the optimal location for the Hurricane zone at the unconformity.

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.

                             2019 HURRICANE ZONE INTERSECTIONS
                                                                      Chemical assays
Hole ID          From     To   Length    Radioactivity (1) (2)       U3O8      Ni      Co
                  (m)    (m)      (m)                    (CPS)        (%)     (%)     (%)

                                                       greater
                                                          than
LE19-023        316.5  320.0      3.5                    1,000        0.2     0.1     0.2
                                                       greater
                                                          than
and             326.5  330.0      3.5                    1,000       10.4     0.8     0.0
                                                       greater
                                                          than
incl.           328.5  330.0      1.5                   20,000       23.6     1.6     0.0
                                                       greater
                                                          than
incl.           329.0  329.5      0.5                   50,000       38.2     1.5     0.1
                                                       greater
                                                          than
LE19-033        324.0  324.5      0.5                    1,000        0.2     0.1     0.0
                                                       greater
                                                          than
and             326.5  329.5      3.0                    1,000        2.7     2.3     0.0
                                                       greater
                                                          than
incl.           328.5  329.5      1.0                    5,000        7.6     6.6     0.1
                                                       greater
                                                          than
incl.           329.0  329.5      0.5                   20,000       13.3    11.8     0.1
                                                       greater
                                                          than
LE19-043        329.0  329.5      0.5                    1,000        0.1     0.0     0.0
                                                       greater
                                                          than
and             333.0  333.5      0.5                    1,000        0.4     0.2     0.0
LE19-053                                          no significantly elevated radioactivity
                                                       greater
                                                          than
LE19-063        328.0  330.0      2.0                    1,000        0.4     0.1     0.1
                                                       greater
                                                          than
and             332.0  336.0      4.0                    5,000        3.8     1.1     0.0
                                                       greater
                                                          than
incl.           333.5  335.5      2.0                   10,000        5.5     0.7     0.0
                                                       greater
                                                          than
incl.           333.5  334.0      0.5                   20,000       13.7     1.2     0.0
                                                       greater
                                                          than
LE19-073        325.0  331.0      6.0                    1,000        0.4     0.8     1.4
                                                       greater
                                                          than
incl.           328.0  328.5      0.5                    5,000        1.0     4.9     9.3
                                                       greater
                                                          than
LE19-083        326.5  327.0      0.5                    1,000        0.4     0.1     0.1
                                                       greater
                                                          than
and             333.0  336.5      3.5                    1,000        0.8     1.5     0.4
                                                       greater
                                                          than
incl.           335.5  336.0      0.5                   10,000        3.7     8.3     1.3
                                                       greater
                                                          than
LE19-093        325.0  329.5      4.5                    1,000        4.2     1.1     0.8
                                                       greater
                                                          than
incl.           327.0  329.0      2.0                   20,000        6.8     1.9     1.3
                                                       greater
                                                          than
LE19-103        331.5  333.0      1.5                    1,000        0.6     1.7     1.9
                                                       greater
                                                          than
LE19-113        333.0  333.5      0.5                    5,000        2.1     0.1     0.1
                                                       greater
                                                          than
LE19-123        320.5  329.0      8.5                    1,000        3.2     2.1     0.2
                                                       greater
                                                          than
incl.           324.5  327.0      2.5                   10,000        7.2     0.6     0.0
                                                       greater
                                                          than
incl.           324.5  325.0      0.5                   20,000        3.5     0.3     0.0
                                                       greater
                                                          than
incl.           326.0  327.0      1.0                   20,000       14.3     1.1     0.0
                                                       greater
                                                          than
incl.           328.5  329.0      0.5                   20,000       12.8    15.0     0.4
                                                       greater
                                                          than
LE19-133        320.0  320.5      0.5                    1,000        0.2     0.0     0.0
                                                       greater
                                                          than
and             321.5  324.0      2.5                    1,000        0.6     0.2     0.5
                                                       greater
                                                          than
incl.           322.5  323.0      0.5                   10,000        1.6     0.4     1.1
                                                       greater
                                                          than
LE19-14B        323.0  325.0      2.0                    1,000                    pending
                                                       greater
                                                          than
and             327.5  331.0      3.5                    1,000
                                                       greater
                                                          than
incl.           327.5  328.0      0.5                    5,000
                                                       greater
                                                          than
incl.           329.0  329.5      0.5                    5,000

Notes  
(1) Radioactivity is total gamma from drill core measured with an RS-125 
hand-held spectrometer. 
(2) Measurements of total gamma cps on drill core are an indication 
of uranium content, but may not correlate with uranium chemical assays.
(3) From the recently completed winter 2019 drilling program.
                                                                                                                                                   

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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