VANCOUVER, Jan. 10, 2017 /CNW/ - IsoEnergy Ltd. ("IsoEnergy" or the "Company") (TSXV:ISO) is pleased to report that all exploration permits are in hand and winter drill campaigns at each of its Thorburn Lake and Radio uranium projects in the eastern Athabasca Basin of Saskatchewan will commence in mid-January.
As reported on January 5, 2017, results of Phase 1 drilling at Thorburn Lake included the intersection of uranium mineralization in drill hole TBN16-19, and elevated radioactivity at the unconformity in several other drill holes. The highlight of Phase 1 drilling at Radio was the discovery of a large zone of basement clay alteration with a tenor and scale that is typically found close to significant uranium mineralization, including the nearby Roughrider uranium deposit.
Thorburn Lake, located 7 kilometres east of the Cigar Lake uranium mine, is 100% owned. IsoEnergy has an exclusive right to earn a 70% interest in the Radio property, which is located 2 kilometres east of the Roughrider uranium deposit.
Thorburn Lake Drill Program
IsoEnergy is planning a 10 hole (4,300 metre) Phase 2 winter drilling program to follow up on the 2016 results. The primary target will be the northeast strike extension of the mineralization, alteration and structural zone defined during the first phase of drilling in 2016. Secondary targets include several resistivity low anomalies observed in an 85 line-kilometer DC-resistivity geophysical survey completed in October 2016.
Radio Property Drill Program
At Radio, IsoEnergy is planning a 10 hole (4,100 metre) Phase 2 winter drilling program to follow up on the 2016 results. The primary target will be uranium mineralization associated with the large zone of basement clay alteration identified in the first phase of drilling in 2016.
Craig Parry, President and CEO, commented: "Given the success of our initial drilling in 2016 in delineating mineralization and alteration typically associated with and nearby to uranium deposits such as Rio Tinto's Roughrider we very much look forward to commencing the winter phase of our drill campaign in coming days."
Qualified Person Statement
The disclosure of a scientific or technical nature 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. For additional information regarding the Company's Radio project and Thorburn Lake project, including its quality assurance and quality control procedures, please see the technical report dated effective August 19, 2016 and September 26, 2016, respectively, in each case, on the Company's profile at www.sedar.com. 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 Ltd. is a well-funded uranium exploration and development company with a portfolio of prospective projects in the eastern Athabasca Basin in Saskatchewan, Canada. 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.
The TSXV has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "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. 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, and 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. 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, potential forfeiture of the Radio Option Agreement, 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, President and 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