Mr. Clive Massey reports
ATOMIC MINERALS PLANS LISBON VALLEY EAST RADON SURVEY
Atomic Minerals Corp. plans to undertake a radon cup survey at its 1,516.5-acre (614-hectare) South Lisbon Valley East property located with the Colorado plateau uranium district, approximately 35 kilometres northeast of Monticello, Utah. The survey will take place shortly as soon as weather permits and the radon survey specialist is available.
The company will run a series of equally spaced northeast-trending lines across the property and the full width of the suspected arcuate belt of uranium mineralization hosted in the Moss Back member of the of the Triassic Chinle formation. The objective of the survey is to detect radon gas emanating from the Chinle formation through faults to surface to assist in refining drilling targets prior to the planned late first half or early second half drill program.
"We are utilizing as many tools in the geological tool box as we can to derisk our upcoming Lisbon Valley East drill program," commented Atomic Minerals' chief executive officer Clive Massey. "We strongly believe significant uranium mineralization lies within the target belt, analogous to the previously producing uranium belt on the SW side of the Lisbon Valley fault where 78 million lb was previously produced," he concluded.
Colorado plateau and Lisbon Valley uranium
The roughly 130,000-square-mile (336,700-square-kilometre) Colorado plateau hosts the largest uranium province in the United States and one of the largest in the world, having previously produced 597 million pounds to date. Most of the Colorado plateau uranium deposits are hosted in the Triassic Chinle and Jurassic Morrison formations that formed in mostly arid environments. These deposits are exposed today along cliffs and drainages that transect the plateau, and have been mined for vanadium since 1909 and for uranium since 1946. The two main areas of uranium production were Morrison formation Grants mineral belt in New Mexico and the Chinle formation Lisbon Valley in Utah.
The Chinle formation deposits are located in arcuate belts associated with a series of northwest-southeast-trending anti-clines developed as a result of salt movement in the underlying strata within the Paradox basin. Paleo rivers flowed along each side of these anti-clines with uranium mineralization found within these paleochannels along the lengths of the anti-clines. Lisbon Valley is the type location for Chinle deposits.
Lisbon Valley produced approximately 78 million pounds of triuranium octoxide between 1952 and 1982 from an arcuate belt about 16 miles long by one mile wide with approximately one-third of the belt eroded away postmineral. Individual orebodies ranged from a few hundred pounds to 20 million pounds of U3O8, hosted in the basal Moss Back member of the Triassic Chinle formation along the southwestern flank of the Lisbon Valley anti-cline. A northwest-trending, postmineral normal fault, the Lisbon Valley fault, abruptly cut off and displaced the uranium mineralization associated with the northeast flank, speculatively dropping it greater than 2,500 feet on the northeastern side of the fault.
The Rio Algom mine produced 13 million pounds at an average grade of 0.25 per cent U3O8 at a depth of 2,550 feet on the downfaulted side of the fault, supporting the presence of an arcuate belt on the northeast side of the fault. Oil and gas drilling, largely between 2006 and 2014, on the northeast down-faulted side of the Lisbon Valley anti-cline located anomalous to extremely anomalous gamma ray readings in the suspected Moss Back member in 28 of 51 holes drilled throughout a northwest-trending belt 20 kilometres in length by greater than 750 metres in width, outlining the suspected eastern arcuate belt.
Within Atomic's SLVE property, nine widely spaced historic oil and gas wells appear to define the southern end of this 20-kilometre-by-750-metre belt as off-scale radioactivity was recorded within the favourable Chinle formation host rock over widths of 1.8 to 4.5 m (six to 15 feet) from depths of 760 to 880 m (2,495 to 2,890 feet).
The data disclosed in this news release relate to historical drilling. Atomic has not undertaken any independent investigation of the sampling, nor has it independently analyzed the results of the historical exploration work to verify the results. Atomic considers these historical drill results relevant as the company will use these data as a guide to plan exploration programs. The company's current and future exploration work includes verification of the historical data through drilling.
R. Tim Henneberry, PGeo (British Columbia) and an adviser to Atomic, and a qualified person under National Instrument 43-101, has reviewed and approved the technical content of the news release.
About Atomic Minerals Corp.
Atomic 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.
Currently, the company's property portfolio contains uranium projects with significant technical merit in three locations known for hosting uranium production in the past. It has four on the Colorado plateau, within the continental United States. The plateau has previously produced 597 million pounds of U3O8. The other two recently acquired properties are located in the prolific Athabasca region in Saskatchewan, Canada, and the Mount Laurier property located in Quebec, Canada.
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