VANCOUVER, Feb. 6, 2018 /CNW/ - IsoEnergy Ltd. ("IsoEnergy" or the "Company") (TSXV: ISO; OTCQX: ISENF) is pleased to announce that it has acquired through staking a new 100% owned property called Whitewater (the "Property"), in the Athabasca Basin region of Saskatchewan.
Garrett Ainsworth, a Director of IsoEnergy, comments: "I'm very excited about this addition to the IsoEnergy property portfolio. The Whitewater Property area shares some geological features with the southwest Athabasca basin region around the Rook 1 property, held by NexGen Energy Ltd. ("NexGen"). Supracrustal rocks of the Tantato domain at Whitewater have been described by several researchers as correlative with those of the Taltson domain that host NexGen's Arrow deposit at Rook 1. Add to that, the presence of the uranium-fertile Grease River shear zone and numerous uranium occurrences, and you have all the ingredients of a highly prospective uranium exploration property."
Steve Blower, Vice President of Exploration at IsoEnergy, comments: "The addition of the Whitewater Property is a great example of the benefit of the Company's affiliation with NexGen, as we're able to leverage Garrett Ainsworth's experience discovering uranium mineralization in prospective, off-basin settings adjacent to the Athabasca Basin margin."
The Whitewater Property was staked on January 16th and consists of 15 contiguous claims totaling 25,966 hectares located along the northern rim of the Athabasca basin. Figure 1 shows the location of the Property relative to IsoEnergy's other Saskatchewan uranium exploration properties. 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.
The Property 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. Uranium mineralization is also present on the Property. The Saskatchewan government's Mineral Deposits Index lists a total of 25 uranium occurrences located within the Whitewater property boundary. Figure 2 shows the prominent geological features and uranium occurrences in the general area of the Property.
Initial work will involve a short period of data compilation, which will likely be followed by airborne geophysical surveying to prioritize target areas for more detailed exploration.
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