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Medaro Mining plans exploration at Yurchison

2021-11-18 09:09 ET - News Release

See News Release (C-MEDA) Medaro Mining Corp

Mr. Faizaan Lalani of Medaro reports


Medaro Mining Corp. has made plans for a coming exploration program at the Yurchison uranium project. The exploration program is slated to commence this winter with the purpose of locating new high-priority drill targets and refining existing historical targets. The Yurchison property is located in the Wollaston domain of Northern Saskatchewan, Canada. The property contains 12 mineral claims, comprising approximately 55,934 hectares.

Coming Yurchison work program details:

The property has had extensive regional exploration work completed, including 23 underground surveys (diamond drilling, sampling and relogging of historical holes, and Wacker drill overburden till sampling) as well as various prospecting and geophysical programs. The majority of the work on this property was completed prior to 2000, with only a lesser amount completed in the last 20 years (25 drill holes, four ground geophysical surveys and four airborne surveys).

Currently under way is a reassessment of historical till geochemistry and relogging of available historical drill core to better understand the stratigraphy and its relationship to the sulphide mineralization and the mineralizing systems. Planning for winter and summer programs is also under way and this work will likely include modern geophysical surveys, geological mapping, geochemical sampling and prospecting programs. A systematic diamond drilling program is being planned as well on priority targets on the property. Additional news will be forthcoming on these exploration programs.

Yurchison uranium project

Historical prospecting near old trenches returned significant uranium (ranging from 0.09 per cent to 0.30 per cent U3O8 (triuranium octoxide)) and molybdenum (ranging from 2,500 parts per million to 6,400 parts per million molybdenum) mineralization in both outcrop and float samples. Two historical holes drilled beneath the trenches returned highly anomalous molybdenum values, up to 3,750 parts per million and anomalous uranium values up to 240 parts per million. The property boasts strong discovery potential for both basement-hosted uranium mineralization as well as copper, zinc and molybdenum mineralization. Regionally, Rio Tinto entered into a $30-million, seven-year, option agreement with Forum Energy Metals Corp. to acquire an 80-per-cent stake in its Janice Lake property, which is located on strike to the southwest of the property.

Marketing agreement

The company has signed an agreement with Financial Star News Inc. (FSN) (address: 701 West Georgia St., Suite 1500, Vancouver, V7Y 1C6; e-mail: info@thefinancialstar.com) for marketing services for three months, commencing on Nov. 18, 2021.

FSN shall, as appropriate, create campaigns, ad groups, text ads, display ads, perform detailed keyword research, set up and manage remarketing campaigns, optimize keyword options, co-ordinate on-line advertisers and marketers corresponding to the customers on-line marketing targets, create landing pages for ad campaigns, and bring attention to the business of the company in consideration for $650,000 (U.S.) (plus applicable taxes). The promotional activity shall occur on the Financial Star website and by e-mail, Facebook and Google. FSN does not have any prior relationship with the company aside from its previous engagement with the company.

Qualified person

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Richard Kusmirski, PGeo, MSc, a qualified person.

About Medaro Mining Corp.

Medaro Mining is a clean energy exploration company based in Vancouver, B.C., which holds options on the Superb Lake lithium property located in Thunder Bay, Ont.; the Cyr South lithium property located in James Bay, Quebec; and the Yurchison uranium property in Northern Saskatchewan. The company is also involved in the development and commercialization of a new process to extract lithium from spodumene concentrate through its Global Lithium Extraction Technologies joint venture.

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