IsoEnergy Reports Additional High-Grade Uranium Assays in Two Southern Extension Drill Holes at the Hurricane Zone
Drill Hole LE20-68 intersects 6.9% U3O8 over 11m, including 49.3% U3O8 over 1.5m
(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 additional chemical assay results from the completed summer drilling program at the Hurricane zone.
Highlights:
South Extension drill hole LE20-68 intersected 11m of uranium mineralization that averages 6.9% U3O8, including 1.5m of intense mineralization that averages 49.3% U3O8
South Extension drill hole LE20-72 intersected 6.0m of uranium mineralization that averages 6.2% U3O8, including 1.5m of intense mineralization that averages 20.7% U3O8
The three westernmost sections are still open to the south
Assays are pending for four mineralized drill holes, including drill hole LE20-76, which intersected 7.5m of uranium mineralization including 3.5m of continuous off-scale (>65,000 CPS) radioactivity
Remaining assays expected to be released in early December
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).
Steve Blower, Vice President of Exploration commented: ?These results continue to demonstrate the high-grade nature of the southern extension area at Hurricane.
LE20-68 Assays (Section 4485E)
Completed to evaluate the potential to expand mineralization south on section 4485E (Figures 2 and 3), drill hole LE20-68 successfully intersected 11.0m of uranium mineralization from 323.0 to 334.0m that averages 6.9% U3O8, including a 1.5m subinterval of intense mineralization from 332.0 to 333.5m that averages 49.3% U3O8 and 3.1% Ni.
LE20-72 Assays (Section 4460E)
Drill hole LE20-72 (Figures 2 and 4) was designed to evaluate the potential to extend mineralization south on section 4460E.
Other Drill Hole Assays
Drill hole LE20-71 intersected 2.0m (at) 2.4% U3O8 and 2.8% Ni and is the most southern drill hole on section 4485E.
Next Steps
Chemical assay results are still pending for drill holes LE20-73 to 77, and are expected in early December.
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.sition zone - a major crustal suture related to most of the uranium deposits in the eastern Athabasca Basin.
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.
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: 17.11.2020 - 08:39 Uhr
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