IsoEnergy Intersects 3.5m of Continuous Off-Scale Uranium Mineralization in Drill Hole LE20-76 at the Hurricane Zone
(PresseBox) - IsoEnergy Ltd. (?IsoEnergy? or the ?Company?) (TSXV: ISO; OTCQX: ISENF - https://www.commodity-tv.com/ondemand/companies/profil/isoenergy-ltd/) is pleased to report new intersections of strong radioactivity from the now completed summer drilling program at the Hurricane zone, which has successfully expanded the mineralized footprint to the south.
Highlights:
South Extension drill hole LE20-76 intersected 7.5m of uranium mineralization (>500 CPS), including 3.5m of continuous off-scale mineralization (>65,000 CPS) ? see Figure 2
Most southerly drilled hole LE20-77 intersected 8.0m of uranium mineralization (>500 CPS), including 1.0m of mineralization (>10,000 CPS)
Assays pending for 11 mineralized drill holes, which are anticipated to be released over the next 4 weeks
Planning is underway for a winter (Jan-Mar) 2021 drilling program
Company is well funded with $11.8M in the treasury
Note: Radioactivity is total gamma counts per second (CPS) from drill core measured with an RS-125 hand-held spectrometer (RS-125).
Craig Parry, Chief Executive Officer commented: ?With the completion of our summer drilling program, we have satisfied our main objective with outstanding results and expanded the zone of intense mineralization at Hurricane to the south.
Steve Blower, Vice President of Exploration commented: ?With 3.5m of off-scale radioactivity, I?m looking forward to the receipt of assays from drill hole LE20-76.
Summer Drilling Summary
The summer drilling program was expanded to 24 holes and focused on extending the high-grade western side of the zone and evaluated additional targets on the eastern side of the zone (Figure 3).
LE20-64: 5.0m (at) 48.8% U308 including 4.0m (at) 57.5% U308
LE20-62: 4.5m (at) 6.2% U308 including 2.5m (at) 11.1% U308
LE20-57: 10.0m (at) 11.7% U308 including 2.5m (at) 46.0% U308
LE20-54: 9.0m (at) 12.8% U308 and 3.9% Ni including 4.0m (at) 27.1% U308 and 5.2% Ni
Assay results for 11 of the 24 drill holes have already been released and the remaining assays (11 mineralized drill holes) are expected to be released over the next 4 weeks.
LE20-76 (Section 4435E)
Designed to infill a 17m gap on section 4435E between drill holes LE20-64 and LE20-62, drill hole LE20-76 intersected an upper 6.5m long interval of weak sandstone hosted uranium mineralization (>500 CPS) from 312.5 to 319.0m.
LE20-77 (Section 4460E)
Drill hole LE20-77 is IsoEnergy?s most southerly drill hole completed to date at the Hurricane zone (Figures 3 and 5).>500CPS) at the sub-Athabasca unconformity from 322.5 to 330.5m.>5,000CPS from 324.0 to 326.5m, and the second is 1.0m >10,000CPS from 329.0 to 330.0m.
Other Drill Holes
Drill hole LE20-74 intersected a 5.0m interval of weak uranium mineralization (>500CPS) on section 4460E. The other two drill holes, LE20-73 and 75A, were completed on the south side of section 4510E.>500CPS), while LE20-75A was not significantly mineralized.
Next Steps
The summer drilling program is now complete.n due course.
The Larocque East Property and the Hurricane Zone
The 100% owned Larocque East property consists of 31 mineral claims totaling 15,878ha that are not encumbered by any royalties or other interests.
Along with other target areas, the Property covers a 15-kilometre-long northeast extension of the Larocque Lake conductor system; a trend of graphitic metasedimentary basement rocks that is associated with significant uranium mineralization at the Hurricane zone, and in several occurrences on Cameco Corp. and Orano Canada Inc.?s neighbouring property to the southwest of Larocque East.
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).e the Technical Report dated effective May 15, 2019, on the Company?s profile at www.sedar.com.
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.
Craig Parry
Chief Executive Officer
IsoEnergy Ltd.
+1 778 379 3211
cparry(at)isoenergy.ca www.isoenergy.ca
Investor Relations
Kin Communications
+1 604 684 6730
iso(at)kincommunications.com
www.isoenergy.ca
In Europe:
Swiss Resource Capital AG
Jochen Staiger
info(at)resource-capital.ch
www.resource-capital.ch
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.
Forward-Looking Information
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. 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. 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,ntractors, 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.
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Datum: 05.11.2020 - 07:50 Uhr
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