The Hurricane zone is a recent discovery of high-grade uranium mineralization on the Company's 100% owned Larocque East property (the 'Property') in the
Highlights
Chemical assays from drill hole LE20-64 returned 5.0m of 48.8% U3O8, including 4.0m of 57.5% U3O8
Chemical assays from drill hole LE20-62 returned 4.5m of 6.2% U3O8, including 2.5m of 11.1% U3O8
Chemical assays from drill hole LE20-57 returned 10.0m of 11.7% U3O8, including 2.5m of 46.0% U3O8
Mineralization on this north-south section (4435E) now measures at least 48m in width and is open to the south
Drilling has now expanded the zone of intense mineralization over 30m to the south, almost to the 'J' fault
The 'J' fault is parallel to the other main mineralized 'H' and 'I' faults, and is wide open to the east for at least 200m
Drilling operations have now resumed after a scheduled two-week break
The program has been expanded to 24 drill holes (from 20) due to the success to date - 10 holes remain to be drilled
LE20-64 Assays
Drill hole LE20-64 intersected an upper 3.5m thick layer of weak uranium mineralization from 316.5-320.0m that averages 0.3% U3O8. This was followed by a 5.0m thick interval of strong mineralization from 324.0-329.0m that averages 48.8% U3O8. Included in this interval is 4.0m of intensely radioactive mineralization greater than 30,000 CPS (RS-125) that averages 57.5% U3O8. Mineralization on this north-south section (4435E) now measures at least 48m in width, and is open to the south. With these results, the summer drilling has now expanded the zone of intense mineralization over 30m to the south, almost to the 'J' fault. The 'J' fault is parallel to the other main mineralized 'H' and 'I' faults, and is wide open to the east for at least 200m.
LE20-62 Assays
Drill hole LE20-62 intersected an upper 2.5m thick interval of weak uranium mineralization from 314.0-316.5m that averages 0.2% U3O8, followed by a 4.5m thick interval of strong mineralization from 321.0-325.5m that averages 6.2% U3O8. Included in this lower interval is 2.5m of intensely radioactive mineralization that averages 11.1% U3O8. A 0.5m sub-interval that was off-scale on the RS-125 hand-held scintillometer averages 29.0% U3O8. As with all drill holes to date at the Hurricane zone, the mineralization is located at the sub-
LE20-57 Assays
Completed on the same 4435E section as LE20-62 and 64, drill hole LE20-57 intersected 10.0m of uranium mineralization from 343.8-353.8m that averages 11.7% U3O8 over 10.0m. Included in this interval is 2.5m of very strongly radioactive mineralization that averages 46.0% U3O8. The mineralization is located at the sub-
Other Drill Holes
Assay results have also been received for drill holes LE20-58C1, 59, 60, 61 and 63A. All of these drill holes were completed on the eastern side of the Hurricane zone and intersected weak uranium mineralization.
Three additional drill holes (LE20-65, 66 and 67) were completed before the scheduled break. Two of these (65 and 66) were completed by Drill 2 on the eastern side of the Hurricane zone. Drill hole LE20-66 intersected one metre of weak uranium mineralization, while LE20-65 was unmineralized. The third drill hole, LE20-67, was completed on the north end of section 4435E on the western side of the Hurricane zone, 17m northeast of strongly mineralized drill hole LE20-34. LE20-67 intersected 2m of weak uranium mineralization at the sub-
Next Steps
Expansion of the western Hurricane zone mineralization to the south will be the primary focus of the remaining 10 holes of the program. Samples collected from the drilling completed to date are periodically shipped to the analytical laboratory in
The Larocque East Property and the
The 100% owned Larocque East property consists of 31 mineral claims totaling 15,878ha that are not encumbered by any royalties or other interests. Larocque East is immediately adjacent to the north end of
Along with other target areas, the Property covers a 15-kilometre-long northeast extension of the
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Email: cparry@isoenergy.ca
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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