VANCOUVER, July 11, 2018 /CNW/ - IsoEnergy Ltd. ("IsoEnergy" or the "Company") (TSXV: ISO; OTCQX: ISENF) is pleased to announce that it has extended the Whitewater property ("Whitewater") and added a new property called Whitewater East. Both of the new claims are located in the Athabasca Basin region of Saskatchewan, and both were acquired by staking. The new 100% owned claims were acquired to cover areas of historic uranium mineralization following ongoing compilation efforts by IsoEnergy's technical team.
Steve Blower, Vice President of Exploration at IsoEnergy, comments: "I'm excited about the uranium discovery potential on these new additions to our Whitewater area land holdings. Each of the new claims covers a large number of uranium showings with numerous mineralized grab samples and a paucity of drilling. They are highly prospective for large-tonnage, near-surface uranium deposits."
Craig Parry, President and CEO, comments: "I'm pleased to report that we continue to add to our highly prospective portfolio of Athabasca properties at very low cost. Our Whitewater properties cover an area of prospective ground that has many of the hallmarks of the Paterson Lakes South Uranium District which hosts our major shareholder NexGen Energy Ltd.'s world-class Arrow deposit. These characteristics include a significant near-by deposit at Fond du Lac, numerous areas of uranium mineralization at surface on the property, shallow or exposed basement host rocks and the presence of major host structures and fluid pathways. We look forward to commencing exploration on these properties in the coming months."
Whitewater Property Extension
The original Whitewater Property was staked on January 16th and consisted of 15 contiguous claims totaling 25,966 hectares located along the northern rim of the Athabasca basin. Whitewater covers over 26 kilometres of the Grease River shear zone which separates the Beaverlodge, Train and Dodge domains to the northwest from the Tantato domain to the southeast. This prominent, long-lived, crustal-scale structure is known to host Athabasca basin related uranium mineralization at the nearby Fond du Lac deposit 26 kilometres along-strike to the southwest. The entire Property is located just off-basin, therefore there is no sandstone cover. At its closest point, the Whitewater Property boundary is within 5 kilometres of the edge of the Athabasca basin.
An additional, contiguous, 1,562 hectare claim was staked in May to more completely cover a group of uranium occurrences that extended off of the original property to the north. Figure 1 shows the location of the new claim. Uranium in this area is commonly hosted by outcropping white leucogranites around the outside of a granitic dome. One particularly well mineralized section has a strike length of approximately 1,500 metres, based on airborne and ground radiometrics. Historic grab sample grades in the area returned up to 1.36% U3O8. Drilling in the area consists of only one, six-hole drilling campaign completed over a small, 350 metre portion of the mineralized trend. All six drill holes were mineralized, with the best result being 0.021% eU3O8/24.2 metres.
Whitewater East Property
In addition, a single 1,147 hectare claim was staked to cover a group of historic granite hosted uranium occurrences 10 kilometres east of Whitewater. This property has been named Whitewater East. The showings are spread over an approximately 500 metre by 250 metre area and have returned several grab samples greater than 1% U3O8, with the highest grade being 3.53% U3O8 from strongly hematized and sheared granites and pelites. Only two historic drill holes have been completed at Whitewater East, with neither intersecting significant uranium mineralization, however the limited number of holes drilled leaves many untested targets on the property.
Qualified Person Statement
The scientific and technical information contained in this news release was prepared by Steve Blower, P.Geo., IsoEnergy's Vice President, Exploration, who is a "qualified person" (as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects). Mr. Blower 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.
IsoEnergy is a well-funded uranium exploration and development company with a portfolio of prospective projects in the eastern Athabasca Basin in Saskatchewan, Canada and a historic inferred mineral resource estimate at the Mountain Lake uranium deposit in Nunavut. 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.
Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release shall not constitute an offer to sell or a solicitation of any offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities referenced herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and such securities may not be offered or sold within the United States absent registration under the U.S. Securities Act or an applicable exemption from the registration requirements thereunder.
The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities and completion of the acquisition of the Property. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the price of uranium, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner and that the acquisition of the Property will be completed on the terms currently agreed to. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, the limited operating history of the Company, the influence of a large shareholder, alternative sources of energy and uranium prices, aboriginal title and consultation issues, reliance on key management and other personnel, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws
SOURCE IsoEnergy Ltd.
For further information: Craig Parry, Chief Executive Officer, IsoEnergy Ltd., +1 778 379 3211, [email protected] www.isoenergy.ca; Investor Relations, Kin Communications, +1 604 684 6730, [email protected], www.isoenergy.ca