Mr. Steve Blower reports
ISOENERGY DRILLS 12.8% U3O8 OVER 9.0M IN DRILL HOLE LE20-54 AND EXPANDS HURRICANE ZONE TO THE SOUTH WITH TWO STRONGLY MINERALIZED HOLES
IsoEnergy Ltd. has released additional intersections of strong radioactivity and initial chemical assays from the continuing summer drilling program at the Hurricane zone. The Hurricane zone is a recent discovery of high-grade uranium mineralization on the company's 100-per-cent-owned Larocque East property in the eastern Athabasca basin of Saskatchewan.
- Chemical assays from drill hole LE20-54 returned 9.0 metres of 12.8 per cent U3O8 (triuranium octoxide) and 3.9 per cent nickel from 329.5 to 338.5 m, including 4.0 m of 27.1 per cent U3O8 and 5.2 per cent Ni from 333.0 to 337.0 m.
South extension drill hole LE20-62 intersected 4.5 m of uranium mineralization (greater than 500 counts per second) from 321.0 to 325.5 m, including 2.5 m of very strong mineralization (greater than 30,000 CPS).
South extension drill hole LE20-64 intersected 5.0 m of uranium mineralization (greater than 500 cps) from 324.0 to 329.0 m, including 4.0 m of very strong mineralization (greater than 30,000 cps).
Drill holes LE20-62 and LE20-64 are located on section with, and 11 m and 28 m, respectively, south of well-mineralized drill hole LE20-57 (previously reported).
LE20-62 and LE20-64 extend mineralization close to the J fault, which remains open along strike to the east for 200 m.
Radioactivity is total gamma from drill core measured with an RS-125 hand-held spectrometer (RS-125).
Craig Parry, chief executive officer, commented: "I want to congratulate our technical team on these results. The expansion of the Hurricane zone to the south is very encouraging. Our team continues to deliver excellent drilling results efficiently and safely."
Steve Blower, vice-president of exploration, commented: "Our primary objective with the summer drilling program was to extend the zone of intense uranium mineralization to the south on the western side of the Hurricane zone. The results in drill holes LE20-62 and 64 have certainly done that. Importantly, it has now been extended nearly to the J fault, which is open along strike to the east for at least 200 m."
LE20-62 radioactivity (drill 1)
Drill hole LE20-62 is located 11 m south of previously reported drill hole LE20-57, which was well mineralized. LE20-62 cored strongly altered Athabasca sandstone before intersecting an upper 2.5 m thick interval of weak uranium mineralization from 314.0 to 316.5 m, followed by a 4.5 m thick interval of strong mineralization from 321.0 to 325.5 m. Included in this interval is 2.5 m of intensely radioactive mineralization greater than 30,000 cps (RS-125), which includes a 0.5 m subinterval that is off-scale on the RS-125 hand-held scintillometer. As with all drill holes to date at the Hurricane zone, the mineralization is located at the sub-Athabasca unconformity. The associated table summarizes the summer 2020 drilling results to date.
LE20-64 radioactivity (drill 1)
Located 17 m south of drill hole LE20-62, drill hole LE20-64 cored strongly altered Athabasca sandstone before intersecting an upper 3.5 m thick layer of weak uranium mineralization from 316.5 to 320.0 m, followed by a 5.0 m thick interval of strong mineralization from 324.0 to 329.0 m. Included in this interval is 4.0 m of intensely radioactive mineralization greater than 30,000 cps (RS-125). Mineralization on this north-south section (4435E) now measures at least 48 m in width, and is open to the north and south. Most importantly, the summer drilling has now expanded the zone of intense mineralization over 30 m to the south, almost to the J fault. This fault is parallel to the other main mineralized H and I faults, and is wide open to the east for at least 200 m.
LE20-54 assays (drill 1)
Drilled to expand the very strong mineralization intersected in drill hole LE20-32A (8.5 m at 19.6 per cent U3O8) during the winter 2020 drill program, drill hole LE20-54 intersected the sub-Athabasca unconformity approximately 7.0 m north of winter drill hole LE20-32A. Radioactivity in drill hole LE20-54 was previously reported. Chemical assays have now been received and the intersection consists of 9.0 m of uranium mineralization that averages 12.8 per cent U3O8 and 3.9 per cent Ni from 329.5 to 338.5 m. Included in this interval is 4.0 m of 27.1 per cent U3O8 and 5.2 per cent Ni. Within the higher-grade subinterval is a 0.5 m section of off-scale radioactivity that contains 52.5 per cent U3O8 and 1.6 per cent Ni.
Other drill holes (drill 2)
Five additional drill holes (LE20-58C1, 59, 60, 61 and 63A) have also been completed with drill 2 on the eastern side of the Hurricane zone. While all but LE20-60 are weakly mineralized, there have been no intersections of strong uranium mineralization in the holes completed by drill 2 to date.
Expansion of the Hurricane zone mineralization to the north and south on the western side will remain the primary focus of the program. Samples collected from the drilling completed to date are periodically shipped to the analytical laboratory in Saskatoon. Chemical assay results generally follow within three to four weeks of the shipping dates.
The Larocque East property and the Hurricane zone
The 100-per-cent-owned Larocque East property consists of 31 mineral claims totalling 15,878 hectares that are 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 km 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. 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 14 drill holes to date in 2020. Dimensions are currently 575 m along strike, 40 m wide and up to 11 m thick. The zone is open for expansion along strike to the east and on most sections. Mineralization is polymetallic and commonly straddles the sub-Athabasca unconformity 320 m below surface. The best intersection to date is 33.9 per cent U3O8 over 8.5 m in drill hole LE20-34. 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 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 330 m in previous drilling.
SUMMER 2020 DRILLING PROGRAM RESULTS
Hole ID From To Length Radioactivity (1) (2) U3O8 Ni
(m) (m) (m) (CPS) (%) (%)
LE20-54 (3) 329.5 338.5 9.0 500 12.8 3.9
incl. 333.0 337.0 4.0 30,000 27.1 5.2
incl. 334.0 334.5 0.5 off-scale (4) 52.5 1.6
LE20-55 (3) no significant mineralization
LE20-56 (3) 351.0 358.5 7.5 500 pending
LE20-57 (3) 335.8 336.8 1.0 500 pending
and 343.8 353.8 10.0 500
incl. 347.3 349.8 2.5 40,000
incl. 347.8 348.3 0.5 off-scale (4)
LE20-58 abandoned before target
LE20-58C1 (5) 144.0 146.5 2.5 500 pending
LE20-59 342.0 347.0 5.0 500 pending
incl. 345.0 345.5 0.5 5,000
LE20-60 no significant mineralization
LE20-61 313.0 322.0 9.0 500 pending
incl. 321.5 322.0 0.5 10,000
LE20-62 314.0 316.5 2.5 500 pending
and 321.0 325.5 4.5 500
incl. 323.0 325.5 2.5 30,000
incl. 324.5 325.0 0.5 off-scale (4)
LE20-63A 329.5 330.5 1.0 500 pending
LE20-64 316.5 320.0 3.5 500 pending
and 324.0 329.0 5.0 500
incl. 324.5 328.5 4.0 30,000
(1) Radioactivity is total gamma from drill core measured with an RS-125 hand-held spectrometer.
(2) Measurements of total gamma on drill core are an indication of uranium content, but may
not correlate with chemical assays.
(3) Radioactivity previously disclosed.
(4) Off-scale radioactivity is defined as exceeding 65,536 cps, the maximum measurable by an
(5) LE20-58C1 is a wedged off cut from LE20-58 at 200 m.
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. 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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