IsoEnergy Ltd. (“IsoEnergy” or the “Company”) (TSXV: ISO; OTCQX: ISENF) is pleased to announce the acquisition of over 46,000ha of new uranium exploration claims divided amongst four properties in the prolific Eastern Athabasca Basin of Saskatchewan (Figure 1). The highlight is the 31,800ha Evergreen property located along the southeast rim of the Athabasca Basin, just 16km west of the Key Lake uranium mill. All of the new claims are 100% owned by IsoEnergy.
New Staking Summary:
- Evergreen Property: 31,800ha located along the southeast rim of the basin,
- Larocque East Extension: 6,900ha on the northwestern end of the property, home of the Hurricane zone, the newest high-grade uranium discovery in the Athabasca basin,
- Full Moon Extension: 6,200ha located between the original Full Moon property and the Company’s Larocque East property,
- Carlson Creek Extension: 1,200ha located just east of the original Carlson Creek property
Steve Blower, Vice President of Exploration commented: “I’m very pleased with the results of our recent staking efforts, particularly with the acquisition of the Evergreen property. In Evergreen we acquired a contiguous package of over 31,000ha along the basin margin close to the Key Lake mill. Several conductive zones are present that warrant exploration attention, especially given the presence of uranium bearing boulders and a paucity of drilling on the property.”
Evergreen Property
The Evergreen property consists of 13 claims totaling 31,800ha. It is approximately 40km long and is elongated in an east-west direction parallel to the margin of the Athabasca Basin. Most of the property is just beyond the basin edge, therefore there is no sandstone cover over this part. Importantly, the eastern end of the property is only 16km west of the Key Lake uranium mill. Figure 2 is a detailed map of the property. There are two known occurrences of uranium bearing boulders, plus drill intersections of uranium mineralization immediately south of the property on conductors that extend onto Evergreen. Only nine historical drill holes have ever been completed at Evergreen.
Larocque East Extension
A total of 6,900ha of new claims were staked along the northwestern extension of the Larocque East property (Figure 3). The new claims cover areas of low magnetic susceptibility with sporadic and undrilled historical conductors – some of which are within 10km of the Hurricane zone discovery.
Full Moon Extension
At Full Moon, a total of 6,200ha was added to the property through staking (Figure 3). Similar to the new claims acquired at Larocque East, this new ground covers areas of low magnetic susceptibility with sporadic and undrilled historical conductors within 12-20km of the Hurricane zone discovery. Sandstone cover is expected to be less than 150m thick throughout the property.
Carlson Creek Extension
Located proximal to the prolific McArthur River to Cigar Lake corridor, the newly staked Carlson Creek extension covers 1,200ha of ground characterized by moderate magnetic relief and historical conductors that have never been drilled.
Next Steps
With the addition of the newly staked claims, the Company now has 15 properties in the Eastern Athabasca Basin totaling 109,100ha. Historical work on all of the new claims, particularly airborne and ground geophysical surveys and core drilling is being compiled and integrated with IsoEnergy’s existing datasets. This work is expected to yield target areas for further exploration as time and budgets allow. As the company’s focus is currently the Hurricane zone, there is no plan to conduct field work on any of these newly staked claims in 2020. Further, there is no regulatory requirement to do any field work until 2022.
Figure 1 – New IsoEnergy Staking
Figure 2 – Evergreen Property Map
Figure 3 – New Larocque East and Full Moon Property Staking
Qualified Person Statement
The scientific and technical information contained in this news release was prepared by Andy Carmichael, P.Geo., 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. 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.
About IsoEnergy
IsoEnergy is a well-funded 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% owned Larocque East property in the Eastern Athabasca Basin. IsoEnergy is led by a Board and Management team with a track 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.
Source: IsoEnergy Limited