Mr. Greg Cameron reports
TERRA CLEAN ENERGY CORP. ACQUIRES AND DIGITIZES EXTENSIVE HISTORIC DATABASE FOR THE MARYSVALE URANIUM MINES PROJECT, UTAH, UNITED STATES
Terra Clean Energy Corp. has completed the acquisition, compilation and digitization of a significant historical exploration database for its 100-per-cent-owned Marysvale uranium mines located in the historic Marysvale uranium district, Utah. The project includes the past-producing Prospector and Freedom uranium mines, which historically accounted for a substantial portion of the district's uranium production of
1.33 Mlb (million pounds)
U3O8 (triuranium octoxide)
at reported average grades of 0.22 per cent.
The newly acquired historical database includes thousands of feet of drill logs, underground geological mapping, production records, assay certificates, geochemical data, mine plans, level maps, cross-sections and technical reports generated by previous operators, including work completed by Anaconda and other historical mining companies active in the district.
The company has now digitized and integrated these data sets into a comprehensive three-dimensional geological model utilizing modern exploration software. The resulting database provides Terra with a significantly enhanced understanding of the structural controls, mineralized zones and potential extensions of uranium mineralization both along strike and at depth beneath the historical workings.
"Acquiring and digitizing this extensive historical data set is a major milestone in advancing the Marysvale uranium mines project," stated Greg Cameron, chief executive officer of the company. "The information includes detailed drill records, underground mapping, geological interpretations and geochemical results that would be extremely costly and time-consuming to recreate today. By incorporating this data into a modern 3-D model, we now have a much stronger technical foundation for targeting extensions of known mineralization and planning our upcoming drill program."
Highlights of the historical database include:
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Historical diamond and percussion drill logs with associated uranium assay results;
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Underground geological mapping from the Prospector and Freedom mine workings;
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Historic mine plans, level maps and cross-sections documenting mined mineralized zones;
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Geochemical and radiometric survey data;
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Production records and development information from historical mining operations;
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Geological reports and interpretations prepared by previous operators;
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Data now fully digitized and incorporated into a modern 3-D geological model.
Management believes the historical data confirms the significant exploration potential of the project and demonstrates that previous mining activities were focused on only a portion of the known mineralized system. The company will utilize the newly compiled database, together with recently completed airborne radiometric and photogrammetric surveys, to finalize drill targets.
The Marysvale uranium mines project is situated within the prolific Marysvale uranium district of central Utah, an area that historically produced more than
1.33 Mlb
U3O8
at reported average grades of 0.22 per cent. The Prospector and Freedom mines were among the district's most significant uranium producers and historical records indicate mineralization remains open beyond the limits of previous mining.
The historical results, production and interpretation described here in have not been verified and are extracted from U.S. Geological Survey reports. The company has not completed sufficient work to confirm and validate any of the historical data contained in this news release. The historical work does not meet NI 43-101 standards. The company considers the historical work a reliable indication of the potential of the Marysvale uranium mines project and the information may be of assistance to readers.
Qualified person
The scientific and technical information contained in this news release has been reviewed and approved in accordance with the Canadian regulatory requirements set out in National Instrument 43-101, on behalf of the company by C. Trevor Perkins, PGeo, vice-president, exploration, for Terra Clean Energy Corp., and a qualified person as defined by National Instrument 43-101.
About Terra Clean Energy Corp.
Terra Clean Energy is a Canadian-based uranium exploration and development company. The company is currently developing the South Falcon East uranium project located in the Athabasca basin region, Saskatchewan, Canada, as well as past-producing uranium mines in Utah and uranium exploration properties in Wyoming, United States. The company's strategy is to find and advance late stage uranium projects to support growing demand for nuclear power and secure domestic mineral supply chains.
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