18:17:32 EST Fri 23 Feb 2024
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Tisdale Clean Energy Corp
Symbol TCEC
Shares Issued 16,467,806
Close 2023-10-31 C$ 0.17
Market Cap C$ 2,799,527
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Tisdale Clean Energy plans South Falcon exploration

2023-11-01 13:09 ET - News Release

Mr. Alex Klenman reports


Tisdale Clean Energy Corp. is planning to begin exploration at its South Falcon East uranium project which hosts the Fraser Lakes B uranium deposit. The south Falcon East project lies 18 kilometres outside the edge of the Athabasca basin, approximately 50 km east of the Key Lake uranium mill and former mine.

Tisdale Clean Energy entered into an option agreement with Skyharbour Resources Ltd. in October of 2022 whereby the company can earn up to a 75-per-cent interest in the South Falcon East project.

The company is planning an extensive preliminary drill program in early 2024. The program will consist of approximately 2,000 metres of drilling. The priority will be to confirm and expand the existing mineralization associated with the Fraser Lakes B uranium deposit. Infill drilling will confirm the presence and continuity of existing mineralization in preparation for a current updated resource estimate and model in the future. Stepout drilling will endeavour to expand the footprint of the deposit, as the current mineralization is open in all directions. Initial focus will be in extending mineralization along strike and down dip into the basement.

A secondary priority will be to begin regional exploration by following up promising anomalies located in the T-Bone Lake area. Regional drilling will focus on the effort to add additional mineralized zones and deposits along the folded structural package that hosts the Fraser Lakes B deposit.

The initial drill program will be operating out of Skyharbour's McGowan Lake camp with helicopter support for the daily drilling operations.

"We're eager to begin the development of the South Falcon uranium deposit," said Alex Klenman, chief executive officer. "We have a great opportunity to build value here. As we deploy capital into the project, we'll earn credit for the pounds in the ground. We believe we can increase both the size and the overall grade of the asset. With current optimism in the sector, we feel we're entering the earn-in with Skyharbour at the best possible time," continued Mr. Klenman.

About the South Falcon East project

The South Falcon East project is a uranium exploration project in the southeast Athabasca basin and represents a portion of Skyharbour Resources' existing South Falcon project. The project covers approximately 12,464 hectares and lies 18 kilometres outside the Athabasca basin, approximately 50 kilometres east of the Key Lake mine.

The South Falcon East project contains the Fraser Lakes B uranium/thorium deposit with a historic mineral resource* of 6.9 million pounds (Mlb) U3O8 (triuranium octoxide) inferred at a grade of 0.03 per cent U3O8 and 5.3 Mlb ThO2 (thorium dioxide) inferred at a grade of 0.023 per cent ThO2. Uranium and thorium mineralization discovered to date is shallow classic Athabasca-style basement mineralization associated with well-developed electromagnetic conductors.

*The historical resource is described in the technical report on the South Falcon East property, filed on SEDAR+ on Feb. 9, 2023. The company is not treating the resource as current and has not completed sufficient work to classify the resource as a current mineral resource. While the company is not treating the historical resource as current, it does believe the work conducted is reliable and the information may be of assistance to readers.

About Tisdale Clean Energy Corp.

Tisdale Clean Energy is a Canadian-based exploration company focused on the acquisition and advancement of critical energy/fuel projects. The company is currently developing the South Falcon East uranium project, located in the Athabasca basin region, Saskatchewan, Canada.

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 on behalf of the company by C. Trevor Perkins, PGeo, a consulting geologist for the company and a qualified person as defined by National Instrument 43-101.

We seek Safe Harbor.

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