05:28:16 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



IsoEnergy Ltd
Symbol ISO
Shares Issued 68,363,868
Close 2019-06-11 C$ 0.495
Market Cap C$ 33,840,115
Recent Sedar Documents

IsoEnergy files NI 43-101 report on Larocque East

2019-06-12 06:35 ET - News Release

Mr. Craig Parry reports

ISOENERGY FILES LAROCQUE EAST URANIUM PROPERTY TECHNICAL REPORT

IsoEnergy Ltd. has filed a National Instrument 43-101 technical report on its 100-per-cent-owned Larocque East property, home to the Hurricane uranium zone. The Hurricane zone is a new discovery of high-grade uranium mineralization located in the prolific eastern Athabasca basin, Saskatchewan.

The report documents all aspects of the exploration and core drilling completed to date on the Larocque East property, especially as it pertains to the Hurricane zone. Included in the report is a recommended program and budget for the next phase of work which consists of 6,700 metres of drilling in 16 drill holes and is expected to cost $1.6-million. The primary objective of this work is to evaluate the eastern strike extension of the Hurricane zone for additional high-grade uranium mineralization in a series of aggressive 100-to-200-metre stepouts scheduled to begin later this month. Some of the drilling will also evaluate the potential for thicker and higher-grade intersections within the current drilling pattern.

The report was prepared by Tim Maunula of T. Maunula & Associates Consulting Inc., a qualified person as defined by National Instrument 43-101.

Larocque East

Larocque East now consists of 20 mineral claims totalling 8,371 hectares. The original portion was purchased in May, 2018, before being expanded by the staking reported herein. 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 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 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 NI 43-101 -- Standards of Disclosure for Mineral Projects). Mr. Carmichael has verified the data disclosed. Mr. Maunula of T. Maunula & Associates Consulting Inc., an independent qualified person, has reviewed the contents of this news release and confirms that the information contained herein is consistent with that in the technical report titled "NI 43-101 Technical Report for the Larocque East Project, Northern Saskatchewan." 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 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.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.