ISENF - IsoEnergy Commences Athabasca Basin Winter 2024 Exploration Program | Benzinga
SASKAOON, Saskatchewan, Jan. 15, 2024 (GLOBE NEWSWIRE) -- IsoEnergy Ltd. ("IsoEnergy" or the "Company") (TSXV:ISO, OTCQX:ISENF) is pleased to announce the commencement of its 2024 winter exploration program in the eastern Athabasca Basin, Canada designed to follow up on the successful 2023 season. A total of 8,250 metres of drilling is planned for the winter with a budget of $4 million focused on two highly prospective projects; Larocque East, which contains the high-grade Hurricane deposit and Hawk. The program will drill test targets to the east of the Hurricane deposit at the Larocque East Project and new targets generated in 2023 at the Hawk Project.
Highlights:
- Larocque East Project
- Hosts the Hurricane deposit containing an Indicated Mineral Resource of 48.6Mlbs at 34.5% U3O8 and an Inferred Mineral Resource of 2.7Mlbs at 2.2% U3O8.
- Drilling of 3,150 metres (6 holes) is planned to test two targets (Area A and Area B), to the east of the Hurricane deposit within the conductor corridor, defined by the Ambient Noise Tomography (ANT) survey conducted in the summer of 2023. The ANT survey identified a significant low velocity response in each target area, interpreted to represent alteration, similar to the response seen at the Hurricane deposit.
- Both targets have seen little to no drilling in the past and offer potential for expansion within the conductor corridor which continues for another 9 kilometres east of the Hurricane deposit.
- Hawk Project
- Drilling of 5,100 metres (6 holes) is planned to test a 2 km long ANT and electromagnetic (EM) anomaly spatially associated with elevated radioactivity, sandstone alteration and brittle deformation both in the basement and the sandstone rocks.
- A ground electromagnetic (EM) survey is also planned along the northeastern extension of the ANT and conductivity anomaly to identify new targets for drilling.
- The diamond drilling services contract for the 2024 exploration programs has been awarded to the highly experienced drill contractor Team Drilling who are mobilizing to site.
- Drilling is expected to commence with two rigs on the Hawk project in late January with Larocque East drilling to follow. Both programs are expected to be completed by April. Results from both programs will inform plans for summer work programs.
Philip Williams, Chief Executive Officer commented, "We believe that IsoEnergy's project portfolio in the eastern Athabasca basin is truly impressive. Not only does it contain the Hurricane deposit at Larocque East, with among the highest uranium grades in the world, but boasts over 20 additional projects (+200,000 hectares) acquired and methodically advanced while interest in uranium exploration was largely muted. Over the past 12 months, under a new exploration leadership team led by Dr. Darryl Clark, EVP Exploration, the focus has been on identifying drill targets at Larocque East and Hawk by combining existing exploration information with results from the innovative Ambient Noise Tomography (ANT) surveys. With a strong balance sheet of over $50 million post closing of the merger, we are well funded and very excited to commence these drill programs, the results of which could have important implications for future targeting at both projects. At Larocque East, drill success to the east of Hurricane could open up 9 kilometres of prospective corridor on our 100% owned ground while Hawk has all the key geological characteristics associated with a mineralized system, the discovery of which would further validate our exploration methodology. We are very pleased to be working with Team Drilling who bring over 80 years of Athabasca drilling experience and maintain a high standard of safety."
Larocque East Project
Six diamond drill holes, totalling 3,150m of drilling are planned at the 100% owned Larocque East project (Figure 1) to follow up on favourable results from the ANT survey conducted in the summer of 2023. Figure 2 shows the strong ANT signature over the Hurricane deposit, and two other significant ANT anomalies along the conductor corridor to the east, the location of previous drill holes and the planned drill hole locations for the winter program. Exploration drilling in Target Area A will test the large ANT anomaly (600m X 200m) located ~ 2km east of the Hurricane deposit. This target has not been tested by past drilling. Drilling will also test Target Area B, where coincident geochemical and ANT anomalies ...