IsoEnergy Ltd. (Stock Symbols – TSXV: ISO, OTCMKTS: ISENF) is a mineral exploration and development company engaged in the acquisition, evaluation, and exploration of uranium mineral properties primarily in the eastern region of the Athabasca Basin in Canada, known for basement hosted mineralization.
IsoEnergy Ltd. primarily holds a 100% interest each in the Thorburn Lake and Radio, Larocque East, and Geiger projects in the Athabasca Basin of Saskatchewan, Canada.
IsoEnergy in the Eastern Athabasca Basin Region
Uranium Exploration Claims Divided By Properties
Larocque East Project
The Larocque East property is 100% owned by IsoEnergy. This property is located in the prolific Eastern Athabasca Basin of Saskatchewan. The Hurricane zone is a recent discovery of high-grade uranium on this property, and is IsoEnergy’s flagship project.
The Hurricane zone, which measures 575 meters long and 75 meters wide has been sampled by recent drilling which demonstrates mineralization up to 11 meters thick. Thus far, rich uranium mineralization was found across a zone that is at least 100m in length.
IsoEnergy Ltd. notes that several sections provide outstanding opportunities for expansion.
Three selected drill holes in the Hurricane zone thus far include:
- Drill Hole LE20-32A – 19.6% U3O8 over 8.5 meters, including 63.6% U3O8 over 2.5 meters
- Drill Hole LE20-40 – 20.5% U3O8 over 4.0 meters, including 53.8% U3O8 over 1.5 meters
- Drill Hole LE20-34 – 33.9% U3O8 over 8.5 meters, including 57.1% U3O8 over 5.0 meters
The Larocque East property is home to the newly discovered Hurricane zone. The property was recently purchased in May, 2018 and has since been expanded through staking. The unencumbered property is owned 100% by IsoEnergy. Larocque East is located 35 kilometres northwest of Orano Canada’s McClean Lake uranium mine and mill and is adjacent to, but not quite contiguous with, IsoEnergy’s Geiger property.
The IsoEnergy Geiger property is located near several uranium deposits, mines and mills. The Roughrider and Midwest deposits are both within 20 kilometers of the Property, as is AREVA’S McClean Lake uranium mill and mine. This makes the Geiger property a prime location for uranium exploration and development for IsoEnergy Ltd.
The Geiger property is located adjacent to the Wollaston-Mudjatik transition zone. This is a major crustal suture related to most of the major uranium deposits in the eastern Athabasca Basin. The sandstone cover at the Property is relatively thin and ranges between 101 metres and 358 metres in previous drilling. A total of 56 historic drill holes were completed at Geiger along 20 kilometres of graphitic conductors. The historic drilling intersected high-grade basement hosted uranium mineralization. For example, drill hole HL-50 intersected 2.74% U3O8 over 1.2 metres in the basement on the H11 South conductor. Additionally, historic drill hole HL-48 intersected 0.18% U3O8 over 0.6 metres above the unconformity along the H11 North conductor.
The Property has numerous gaps in the conductors that are up to 1,000 metres long. There is also potential for an unexplored four kilometer long conductor along the eastern edge of the easternmost claims.
The IsoEnergy Ltd. team conducted their first drill program on the property in winter 2018. This program successfully extended known mineralization in two locations on the H11S conductor. The highlight of the program was drill hole GG18-09, which was designed to evaluate extensions of basement hosted uranium mineralization in historic drill hole HL-50.
Although some weakly elevated radioactivity and indicative alteration was intersected in the vicinity of drill hole GG18-09, no significant uranium mineralization was intersected at the Geiger property. However, there are numerous other drilling targets remaining on the Geiger property.
The IsoEnergy Radio project is a uranium exploration area located in the Athabasca Basin of Saskatchewan, Canada that IsoEnergy Ltd. holds a 100% interest in. This project is contiguous with Rio Tinto’s Roughrider deposit, which they bought in 2012 for C$654 million.
Before IsoEnergy Ltd. acquired the property, only one campaign of drilling had ever been completed on the project. NexGen Energy drilled nine holes during the summer of 2013 and found evidence of clay alteration, structural disruption in the Athabasca sandstone, and alteration and structures in the basement rocks. These features are known to occur near high-grade uranium mineralization in the Athabasca Basin.
Since IsoEnergy Ltd acquired the property, they have completed a total of 23 drill holes (totaling over 8,800 metres) in order to better understand the potential for uranium mineralization at Radio. These drill holes were completed in during 2016-2017.
Thorburn Lake Project
The IsoEnergy Thorburn Lake property is located just 7 kilometers east of Cameco’s Cigar Lake mine and 300 metres north of Cameco’s Thorburn Lake uranium occurrence. IsoEnergy Ltd holds a 100%-interest in the Thorburn Lake property, which is prospective for high-grade uranium mineralization. The property has seen very limited historic exploration, but recent airborne magnetic and radiometric surveys have identified several highly prospective areas.
In 2008, prior to IsoEnergy Ltd, previous owners completed only 14 drill holes on the Thorburn Lake property. Of these, four intersected uranium enrichment at the Athabasca Group-basement unconformity. In 2011, a follow-up program was completed, with ten holes drilled. Of these, four had significant uranium anomalies associated with alteration envelopes at the unconformity. In one such hole, TBN-11-05a, visible pitchblende veins and disseminations were intersected. This drill hole yielded a best result of 3610 ppm U (0.43% U3O8) over 0.6 metres within a larger weakly mineralized zone with a grade of 0.019% U3O8 over 8.0 metres straddling the unconformity.
The IsoEnergy team drilled a total of 7,100 metres in 16 holes at Thorburn Lake in two programs in 2016 and 2017. The goal of these programs was to explore the extensions of the uranium mineralization that was intersected in 2011, especially along-strike to the northeast beneath the lake ice. Depth to the sub-Athabasca unconformity at Thorburn Lake ranges from 290 to 350 metres.
The drilling in 2016 and 2017 extended favourable structure and graphitic units to the northeast and continued to intersect sporadic uranium mineralization and alteration. Additional drilling in this area is warranted to better understand the extent of the uranium mineralization.
The Thorburn Lake property is still in its early exploration stages, but it is highly prospective for uranium deposits. The property has already seen drilling campaigns in 2016 and 2017, and future work will include follow-up drilling as well as targeting areas identified by DC-resistivity surveys. Uranium deposits can form in both unconformity and basement hosts, so there is a lot of potential for finding good mineralization at Thorburn Lake.
The Cigar Lake mine haul road passes through the Thorburn Lake property. The Thorburn Lake property is also within 300 metres of the Thorburn Lake uranium occurrence where mineralized intersections including 3.2% U3O8 over 8.8 metres have been reported.
IsoEnergy has numerous additional prospects across the basin including:
Collins Bay Extension Project
The IsoEnergy Collins Bay Extension project is located northeast of Eagle Point mine, east of McClean Lake mine, and northeast of Rabbit Lake mine and mill. The project consists of 15 mineral claims totaling 9,337 hectares. The property is located close to the edge of the Athabasca Basin and has regional trends and structures that extend onto the property including the Collins Bay Fault and Collins Bay and Tent-Seal conductive trends.
The IsoEnergy 2Z project is located 30 kilometers southeast of Cigar Lake mine and 11 kilometers southeast of Sand Lake uranium deposit. The project consists of four mineral claims totaling 354 hectares. The vertical depth to the unconformity is 60 to 100 meters. The Wolf grid conductive trend extends onto the eastern part of 2Z, so it is a good place to look for uranium deposits.
Carlson Creek Project
The IsoEnergy Carlson Creek project is located in the Key Lake – McArthur River – Cigar Lake corridor, 19 kilometres northeast of the McArthur River mine and five kilometres east of the Paul Bay, Ken-Pen, and Orora zones. The Carlson Creek project comprises one claim covering 759 hectares. The vertical depth to the unconformity is 410 to 460 metres.
The IsoEnergy Cable project is located in east-central Saskatchewan, near the town of Choiceland. The project consists of 10 claims covering 44,425 hectares. The depth to the unconformity ranges from 870 to 1,000 metres.
The IsoEnergy Edge Project is located northeast of the Hurricane zone and consists of three claims totaling 6,515 hectares. The project’s drill results indicate that the vertical depth to the unconformity is 40 metres.
The IsoEnergy Evergreen Project is located in the Athabasca Basin, 20 kilometers west of the Key Lake mine and mill. About 80% of the property is beyond the margin of the Athabasca Basin and has no sandstone cover. Evergreen comprises of 19 claims covering over 33,000 hectares with a vertical depth to the unconformity between 0 and 50 meters.
Full Moon Project
The IsoEnergy Full Moon Project is located north of the McClean Lake Uranium Mill, east of the Hurricane zone, and comprises 17 claims totaling 11,107 hectares. Drilling indicates the vertical depth to the unconformity is 27 to 133 metres.
The IsoEnergy Eagle project is located in a favourable area for uranium mineralization, close to the McClean Lake mine and Hurricane Zone. The project consists of one claim covering 5,887 hectares. The depth to the unconformity has been intersected in drill holes drilled close by and is estimated to be 530 to 675 metres deep.
East Rim Project
The IsoEnergy East Rim project straddles the eastern margin of the Athabasca Basin 8 kilometres south of the West Bear Uranium-Nickel-Cobalt Deposit and comprises 12 claims totaling 25,111 hectares.
Keep your radar on, as this mineral exploration company could announce additional new uranium exploration claims and drilling program results across its portfolio of projects which are company owned.
The company was incorporated in 2016 and is headquartered in Vancouver, Canada.
IsoEnergy Ltd. is a subsidiary of NexGen Energy Ltd (Stock Symbols – NYSE: NXE, TSX: NXE) of which Queen’s Road Capital Investment has capitalized.
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Phone: (306) 653-6255
IsoEnergy Ltd. Stock Performance & Market Cap
IsoEnergy Stock Symbols – TSXV: ISO, OTCMKTS: ISENF
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