Mr. Tim Gabruch reports
ISOENERGY REPORTS FINAL CHEMICAL ASSAYS FROM 2021 DRILLING AT HURRICANE ZONE
IsoEnergy Ltd. has released the final assay results from its successful summer 2021 drilling at the Hurricane zone. Hurricane is a high-grade uranium zone located on the company's 100-per-cent-owned Larocque East property in the eastern Athabasca basin of Saskatchewan.
Highlights:
-
6.5 metres averaging 20.4 per cent U3O8 (triuranium octoxide) in southern expansion drill hole LE21-107, including 3.5 m averaging 34.5 per cent U3O8;
- 7.5 m averaging 4.5 per cent U3O8 in southern expansion drill hole LE21-87A;
- Mineralization in drill hole LE21-101 of 0.5 m at 3.1 per cent U3O8 confirms continued expansion potential.
SUMMER 2021 DRILLING PROGRAM RESULTS
Chemical assays
Hole ID From To Length Radioactivity (1) (2) U3O8 Ni
(m) (m) (m) (cps) (%) (%)
LE21-78 (3) (5) abandoned before target
greater
than
LE21-78C1 (5) 248.5 260.5 12.0 500 5.2 1.1
greater
than
incl. 253.0 254.0 1.0 5,000 1.5 2.3
greater
than
and incl. 254.5 255.0 0.5 5,000 1.7 0.3
greater
than
and incl. 257.5 259.5 2.0 30,000 27.6 3.6
greater
than
and incl. 260.0 260.5 0.5 5,000 1.9 0.1
greater
than
and 266.0 266.5 0.5 5,000 1.9 0.7
greater
than
LE21-80 (5) 325.0 325.5 0.5 500 0.1 0.0
greater
than
and 326.0 329.5 3.5 500 2.3 0.1
greater
than
incl. 326.0 328.0 2.0 5,000 4.0 0.2
greater
than
incl. 326.5 327.0 0.5 30,000 9.0 0.4
greater
than
LE21-82 (5) 326.5 327.0 0.5 500 0.2 0.1
greater
than
and 328.5 333.0 4.5 500 0.9 7.2
greater
than
incl. 331.0 332.0 1.0 5,000 1.4 16.2
greater
than
LE21-84 (5) 326.5 329.5 3.0 500 0.5 0.6
greater
than
incl. 328.0 328.5 0.5 5,000 1.9 0.2
greater
than
LE21-85 (4) 321.5 322.5 1.0 500 0.2 0.2
greater
than
and 327.0 327.5 0.5 500 0.2 0.1
LE21-87 (4) abandoned before target
greater
than
LE21-87A (4) 331.0 338.5 7.5 500 4.5 8.5
greater
than
incl. 331.5 332.0 0.5 5,000 1.5 16.1
greater
than
and incl. 333.5 338.0 4.5 5,000 6.8 8.1
greater
than
incl. 334.0 335.0 1.0 20,000 8.1 9.4
greater
than
and incl. 336.0 338.0 2.0 20,000 9.2 8.8
LE21-89 (4) no significant mineralization
greater
than
LE21-91 (4) 336.0 341.0 5.0 500 0.7 1.4
greater
than
incl. 337.5 338.0 0.5 5,000 1.7 0.6
greater
than
and incl. 338.5 339.0 0.5 greater
than
5,000 1.5 0.9
LE21-93 (4) 316.0 316.5 0.5 500 0.1 0.0
LE21-95 (4) abandoned before target
LE21-95A (4) no significant mineralization
LE21-97 (4) abandoned before target
LE21-97A (4) no significant mineralization
LE21-100 (4) no significant mineralization
greater
than
LE21-101 (4) 324.5 329.0 4.5 500 0.6 0.2
greater
than
incl. 327.5 328.0 0.5 5,000 3.1 0.7
greater
than
LE21-103 (4) 330.0 330.5 0.5 500 1.1 1.1
greater
than
and 331.0 331.5 0.5 500 0.1 0.3
greater
than
and 334.5 338.5 4.0 500 0.9 0.5
greater
than
incl. 337.5 338.0 0.5 5,000 4.7 2.9
greater
than
LE21-105 (4) 339.5 340.0 0.5 500 0.1 0.1
greater
than
LE21-107 (4) 325.5 332.0 6.5 500 20.4 7.9
greater
than
incl. 326.0 326.5 0.5 10,000 6.6 2.5
greater
than
and incl. 327.5 331.0 3.5 30,000 34.5 11.5
Notes
(1) Radioactivity is total gamma from drill core measured with an RS-125 hand-held spectrometer.
(2) Measurements of total gamma counts per second on drill core are an indication of uranium content
but may not correlate with uranium chemical assays.
(3) LE21-78C1 is a wedged off-cut of LE21-78 at 70 m.
(4) Radioactivity previously disclosed.
(5) Radioactivity and chemical assays previously disclosed.
Tim Gabruch, president and chief executive officer, commented: "Following the completion of our 2021 drilling program this past November we are pleased to release these final assay results. These high-grade results have supported the further growth of the Hurricane zone, and hole LE21-101 has highlighted the continued prospectivity of Hurricane. Our winter drilling program is now under way, and we will focus our expansion drilling on the corridor highlighted by this hole. We are looking forward to 2022 being an exciting year for IsoEnergy as we aim to continue to expand the Hurricane zone and also direct increasing attention to exploration drilling to the eastern end of the Larocque East property. Nuclear energy is gaining increased global support for the important role it has to play in providing clean energy. This underscores the importance of work being done to uncover future uranium supply sources, such as Hurricane, to fuel these growing nuclear energy demands."
Andy Carmichael, vice-president of exploration, commented: "The strong mineralization intersected by LE21-107 emphasizes the J-L fault corridor's potential to host additional uranium mineralization and, with LE21-78C1 and LE21-87A, defines a new zone of strong mineralization on the south side of Hurricane. The results of LE21-101 indicate the J-L fault corridor is mineralized 300 m east of LE21-107. The primary objective of ongoing winter 2022 drilling at Hurricane is to systematically test the eastern portion of this corridor for significant mineralization."
Southern expansion
LE21-107 (Section 4485E)
LE21-107 targeted the centre of a 26 m gap between previously reported drill holes LE20-71 (2.4 per cent U3O8 over 2.0 m) and LE21-82 (4.5 m averaging 0.9 per cent U3O8 including 1.0 m of 1.4 per cent U3O8). LE21-107 intersected 6.5 m averaging 20.4 per cent U3O8 from 325.5 to 332.0 m, including 3.5 m averaging 34.5 per cent U3O8 from 327.5 to 331.0 m. Images on the company's website show the location of the drill hole in plan and section view.
LE21-87A (Section 4460E)
LE21-87A intersected 7.5 m of uranium mineralization from 331.0 to 338.5 m averaging 4.5 per cent U3O8 including 2.0 m averaging 9.2 per cent U3O8 from 336.0 m to 338.0 m and including 1.0 m averaging 8.1 per cent U3O8 from 334.0 m to 335.0 m. LE21-87A expanded the Hurricane zone 17 m south of drill hole LE21-78C1 (12.0 m averaging 5.2 per cent U3O8 including 2.0 m averaging 27.6 per cent U3O8), increasing width of the mineralized footprint to at least 86 m on Section 4460E. Images on the company's website show the location of the drill hole in plan and section view.
LE21-103 (Section 4485E)
Drill hole LE21-103 targeted the unconformity 31 m south of previously reported drill hole LE21-82. LE21-103 intersected 4.0 m of uranium mineralization from 334.5 m to 338.5 m averaging 0.9 per cent U3O8, which includes 0.5 m averaging 4.7 per cent U3O8 from 337.5 to 338.0 m. LE21-103 expanded the Hurricane zone 31 m to the south and the mineralized footprint is now at least 125 m wide on Section 4485E. Images on the company's website show the drill hole in plan and section view.
LE21-91 (Section 4510E)
Drill hole LE21-91 was completed to test for easterly extensions of mineralization intersected by earlier 2021 drill holes and targeted the unconformity 28 m northeast of LE21-82 and 47 m east of LE21-78C1. LE21-91 intersected 5.0 m averaging 0.7 per cent U3O8 from 336.0 m to 341.0 m. Images on the company's website show the drill hole location in plan and section view.
LE21-105 (Section 4535E)
Drill hole LE21-105 was completed to test for easterly extensions of mineralization intersected by LE21-91. LE21-105 reached the unconformity 21 m east of LE21-91 at a depth of 341.5 m, intersecting 0.5 m averaging 0.1 per cent U3O8 from 339.5 to 340.0 m. An image on the company's website shows the drill hole in plan view.
Continued growth potential
LE21-101 (Section 4785E)
Drill hole LE21-101 tested the prospective graphitic structural corridor bounded by the J and L faults in an area that has seen limited drilling. The drill hole intersected 4.5 m of uranium mineralization from 324.5 to 329.0 m averaging 0.6 per cent U3O8 including 0.5 m averaging 3.1 per cent U3O8 from 327.5 to 328.0 m. Images on the company's website show the drill hole in plan and section view.
Defining the zone
LE21-85 (Section 4460E)
Drill hole LE21-85 was drilled to follow up mineralization intersected by previously reported drill holes LE20-57 (11.7 per cent U3O8 over 10.0 m) and LE20-38 (2.0 per cent U3O8 over 7.5 m). The drill hole intersected an upper zone of uranium averaging 0.2 per cent U3O8 over 1.0 m from 321.5 m to 322.5 m above a lower zone averaging 0.2 per cent U3O8 over 0.5 m
from 327.0 m to 327.5 m. Images on the company's website show the location of the drill hole in plan and section view.
LE21-93 (Section 4435E)
LE21-93 was drilled to expand mineralization to the north on Section 4410E and targeted the unconformity 29 m north of previously reported drill hole LE20-42 (0.4 per cent U3O8 over 3.0 m). The drill hole intersected 0.1 per cent U3O8 over 0.5 m beginning at 316.0 m, 13 m above the unconformity. The zone of significant mineralization is interpreted to be closed off to the north on Section 4435E. An image on the company's website shows the location of drill hole LE21-93 in plan view.
The Larocque East property and the Hurricane zone
The 100-per-cent-owned Larocque East property consists of 33 mineral claims totalling 16,780 hectares. Two of the project's claims distal to the Hurricane zone are subject to a 2-per-cent net smelter returns royalty of which 1 per cent may be bought back for $1-million at IsoEnergy's discretion. Larocque East is immediately adjacent to the north end of IsoEnergy's Geiger property and is 35 km northwest of Orano Canada's McClean Lake uranium mine and mill.
Along with other target areas, the Larocque East 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. and Orano Canada Inc.'s neighbouring property to the southwest of Larocque East. The Hurricane zone was discovered in July, 2018, and was followed up with 29 drill holes in 2019 and an additional 48 drill holes in 2020. Dimensions are currently 375 m along strike, up to 125 m wide, and up to 12 m thick. Mineralization is polymetallic and commonly straddles the sub-Athabasca unconformity 320 m below surface. The best intersection to date is 38.8 per cent U3O8 over 7.5 m in drill hole LE20-76. Drilling at Cameco'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 m 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 uranium deposits in the eastern Athabasca basin. Importantly, the sandstone cover on the property is thin, ranging between 140 m and 450 m in previous drilling.
Qualified person statement
The scientific and technical information contained in this news release was prepared by Andy Carmichael, PGeo, IsoEnergy's vice-president, exploration, 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. All radioactivity measurements reported herein are total gamma from an RS-125 hand-held spectrometer. As mineralized drill holes at the Hurricane zone are oriented very steeply (minus 70 to minus 90 degrees) into a zone of mineralization that is interpreted to be horizontal, the true thickness of the intersections is expected to be greater than or equal to 90 per cent of the core lengths. 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. All chemical analyses are completed for the company by SRC Geoanalytical Laboratories in Saskatoon, Sask. 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. The company recently discovered the high-grade Hurricane zone of uranium mineralization on its 100-per-cent-owned Larocque East property in the eastern Athabasca basin. 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 Ltd.
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