Mr. Clive Massey reports
ATOMIC MINERALS COMPLETES AIRBORNE GRADIENT MAGNETOMETER SURVEY AT MOZZIE LAKE URANIUM PROJECT
Atomic Minerals Corp. has completed an airborne gradient magnetometer survey at its 26,073.5-hectare Mozzie Lake uranium project located in Northern Saskatchewan.
Key points:
- Axiom Exploration Group Ltd., a multifaceted geological and geophysical consulting group based in Saskatoon, was able to complete 2019.6 line kilometres of the target 2,963 line km at 100-metre line spacing, despite significant inclement weather.
- Atomic anticipates receipt of the 3-D inversion and logistics report shortly.
"While we were unable to survey the entire 26,070-hectare property, we are extremely pleased to have covered all but the southwest corner of the claim block. There were no issues reported with respect to data intergrity and quality, so we have a quality data set and eagerly await the 3-D inversion and logistics report, which should assist in identifying the structures and units hosting the uranium mineralization and also identify potential repeats across the property. Follow-up ground truthing and prospecting is also fully funded and will commence as soon as conditions permit," stated Clive Massey, president and chief executive officer.
The Mozzie Lake project lies within the Pinkham Lake zone of the Charlebois-Higgingson Lake uranium district approximately 25 kilometres northeast of the Athabasca basin. Two programs of diamond drilling in 1967 and 1968 identified a historic estimate of 208,300 tons grading 0.118 per cent triuranium octoxide, approximately 491,588 pounds of U3O8 within pegmatite intrusions.
The historic estimate was disclosed in Kings Resources Company Exploration -- 1968 permit 3 area, Athabasca mining district, Saskatchewan, by B.G. Gislason and C.M. Trigg dated November, 1968. The company feels the historic estimate is relevant because it speaks to the potential of the Mozzie Lake property and reliable as it was completed to the standards of the day by competent geologists. The historic estimate appears to be calculated from cross-sections under the assumption that the pegmatite bodies hosting the mineralization are conformable with the enclosing rock. Only mineralized sections grading 0.05 per cent U308 or greater were included in the calculation. The historic estimates are classified as drill indicated, which would be comparable with an inferred resource. The company would need to twin a number of the 1967 and 1968 drill holes to move the historic estimate to an inferred resource.
Atomic Minerals cautions investors that a qualified person has not done sufficient work to classify the historical estimate as current mineral resources and further cautions that the company is not treating the historical estimate as current mineral resources.
R. Tim Henneberry, PGeo (British Columbia), an adviser to the company, is the qualified person under National Instrument 43-101 responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.
About Atomic Minerals Corp.
Atomic Minerals is a publicly listed exploration company on the TSX Venture Exchange, trading under the symbol ATOM, led by a highly skilled management and technical team with a proven record in the junior mining sector. Atomic's objective is to identify exploration opportunities in regions that have been previously overlooked but are geologically similar to those with previous uranium discoveries. These underexplored areas hold immense potential, and are in stable geopolitical and economic environments.
The company's property portfolio includes assets with significant technical merit in three proven uranium districts. Atomic holds the Lisbon Valley, Harts Point, 10 Mile and Dolores projects on the prolific Colorado plateau, southwestern United States, with historic production of 597 million pounds of U3O8. The company holds the Mozzie Lake project, with its historic resource, in the prolific Athabasca region of Saskatchewan, Canada, and holds the Mount Laurier property in Otish Mountain district of Quebec, Canada.
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