IsoEnergy Ltd (TSXV: ISO) (OTCQX: ISENF) has revealed the initial independent Mineral Resource Estimate for the Hurricane uranium deposit on its 100% owned Larocque East project in the eastern Athabasca Basin of Saskatchewan.
Highlights
- Indicated Mineral Resources of 48.61 million lbs of U3O8 based on 63,800 tonnes grading 34.5% U3O8, including 43.89 million lbs U3O8 at an average grade of 52.1% U3O8 within the high-grade domain
- Inferred Mineral Resources of 2.66 million lbs of U3O8 based on 54,300 tonnes grading 2.2% U3O8
- Indicated Mineral Resources are highly insensitive to cut-off grade due to the high-grade and compact nature of the Hurricane Deposit
“Since incorporation by NexGen Energy in 2016, IsoEnergy’s objective has been to explore for high-grade uranium on the eastern side of Saskatchewan’s Athabasca Basin. Following the discovery of Hurricane in July 2018 IsoEnergy has focused on determining the scope and scale of the deposit,” President and CEO Tim Gabruch, said.
“The six drilling programmes completed since then have culminated in today’s announcement of an Indicated Mineral Resource of 48.61 million pounds U3O8 at an average grade of 34.5% U3O8, with the high-grade domain containing nearly 44 million pounds U3O8 at an average grade of 52.1% U3O8. The team at IsoEnergy is extremely proud of the work done on Hurricane, and it is rewarding to present this initial Resource Estimate to the company’s stakeholders.
“Hurricane’s exceptionally high uranium grade and relatively shallow depth, together with its proximity to existing eastern Athabasca Basin road, power and milling infrastructure are key attributes.
“Saskatchewan is home to the world’s largest and highest-grade uranium mines and deposits, and it is recognised as the premier mining jurisdiction in Canada and one of the best globally. For decades it has also been established as one of the most stable, dependable jurisdictions for the world’s nuclear energy providers to source uranium.
“Today, the outlook for nuclear energy has never been more positive, with growing recognition of the vital role it will play in providing clean, baseload energy to help address climate change challenges globally. IsoEnergy will continue to progress Hurricane with an objective to meaningfully contribute to the world’s growing demand for clean nuclear energy.”
Vice President of Exploration, Andy Carmichael, said this Mineral Resource Estimate establishes Hurricane as the world’s newest, very high-grade uranium deposit.
“On average, one cubic metre of Hurricane’s high-grade domain weighs over 4.5 tonnes and contains over 5,200 lbs of U3O8.
“Of the past- and presently- producing uranium mines in the Athabasca Basin, Hurricane is most analogous to the Cigar Lake deposit at the nearby operating mine with respect to the mineralization’s grade, thickness, width, style, and the alteration halo and ground conditions which mantle the deposit. Notably, Hurricane’s Mineral Resource Estimate employs a cut-off grade consistent with uranium Mineral Resource Estimates reported from Cigar Lake and other operations in the eastern Athabasca Basin.”
For further information please visit: http://www.isoenergy.ca/
