As announced on
Geiger Drilling Complete
Diamond drilling at Geiger concluded in August. Twelve diamond drill holes totalling 4,428 metres were completed to evaluate an area where historical drill holes intersected anomalous results. Geological interpretation is underway and geochemical assay results are expected in a few weeks. While several drill holes intersected positive features, the most noteworthy result is the discovery of a zone of significant sandstone alteration associated with the 3B electromagnetic (EM) conductor. The 3B conductor was identified by
The newly discovered alteration zone was first intersected by drill hole GG21-21 while following-up anomalous historical drill hole Q3-006 by evaluating the 3A conductor (Figure 4). GG21-21 intersected wide intervals of moderately to strongly bleached sandstone cored by a 50-metre-long interval hosting structurally controlled clay enrichment, desilicified zones, and local hydrothermal hematite centred 100 metres south of the 3A conductor (Figure 5). GG21-27 followed-up GG21-21 by evaluating the sub-parallel 3B conductor and locating inferred basement structures controlling the alteration in the overlying sandstone. GG21-27 intersected moderately to strongly bleached intervals in the sandstone as well as a zone of graphitic faulting in the basement 155 metres below the unconformity which correlates to the centre of the 50-metre zone of increased alteration and structure in GG21-21. Importantly, the 3B conductor associated with this sandstone alteration and graphitic basement has been tested only indirectly by the two 2021 drill holes and is completely untested along its remaining 4.5 kilometres of strike length (Figure 4).
The Larocque East Property and the
The 100% owned Larocque East property consists of 33 mineral claims totaling 16,780ha. Two of the project's claims distal to the Hurricane zone are subject to a 2% Net Smelter Returns Royalty of which 1% may be bought back for
Along with other target areas, the Larocque East Property covers a 15-kilometre-long northeast extension of the
Qualified Person Statement
The scientific and technical information contained in this news release was prepared by
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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 "
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, 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.
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