(via TheNewswire)
Click Image To View Full Size
Figure1. Map of
ThePlateau Property, located in the southeast
Click Image To View Full Size
Figure2. Plateau Property location map.
Highlights:
Targeting basement-hosted and unconformity-associated Uranium mineralization.
Property Structural Fabric: Curvilinear NE-trending belt dominated by dome-and-basin-style interference-folding of the Mudjatik Domain overprinted by
NE-linear Cable Bay Shear Zone .Major Structures include
Cable Bay Shear Zone , Tabbernor faults, and Mackenzie diabase dykes.Proximity to Known Mineralization: 1 km from Fleming Island Occurrence (3% Uoutcrop samples). There are multiple Saskatchewan Mineral Deposit Index showings proximal to the property that include Co, Cu, Zn, and Ni.
Recent Work: XciteTMhelicopter-borne time-domain electromagnetic (HTDEM) system flown over entire property in 2023, which defined 73 linear-kilometres of conductors on the property.
XciteTMsurvey has highlighted coincident magnetic and electromagnetic anomalies within the northwest quadrant of the property that may host northeast trending splay faults of the
Cable Bay Shear Zone .
About the Plateau Property:
The Plateau Property is comprised of 9 mineral dispositions encompassing a total land area of 27,252ha (27km2) and is located along the southeast margin of the
Future Work Recommendation for the remainder of 2024 through to the end of 2026:
I.Complete drillhole and surficial geochemistry compilation work initiated by Atha.
II.Property-wide airborne gravity survey.
III.Property-wide ground geochemistry/boulder sampling survey.
IV.Ground time-domain electromagnetic (TDEM) and ground DC-IP resistivity surveying over the northern dispositions.
V.Geologic mapping prospecting over the southern dispositions.
TheLedge Property, located in the northeast
Click Image To View Full Size
Figure3. Ledge Property location map.
Highlights:
Targeting basement-hosted and unconformity-associated Uranium mineralization.
Property Structural Fabric:Curvilinear NE-trending belt dominated by dome-and-basin-style interference-folding typical of the Mudjatik Domain.
Major Structures include Tabbernor faults, Mackenzie diabase dykes, and potential extension of the
Cable Bay Shear Zone .Numerous drill holes and boulder sampling has been completed on the property with anomalous Uranium and scintillometer values which have been linked to the granitoids.
Proximity to Known Mineralization: Moosonees Lake Bedrock Uranium Showing on Property ( Surficial Boulder Sample at 0.19% U3O8).
Recent Work: XciteTMhelicopter-borne time-domain electromagnetic (HTDEM) system flown over entire property in 2023, which defined 50 linear-kilometres of conductive lineaments.
About the Ledge Property:
The Ledge Property is comprised of 7 mineral licences encompassing a total land area of 38,784ha (38km2) and is located along the northeast margin of the
Future Work Recommendation for the remainder of 2024 through to the end of 2026:
I.Complete drillhole and surficial geochemistry compilation work initiated by ATHA Energy Corp.
II.Property-wide airborne gravity survey.
III.Property-wide geologic mapping, prospecting.
IV.Property-wide ground geochemistry/boulder survey.
Terms of the Option Agreements:
In accordance with the terms of the Option Agreements, the Company can earn a 70% undivided interest (subject to underlying 2.0% NSR royalties on each property agreed to by the parties) in the Plateau Property and Ledge Property through the issuance of 4,330,228 common shares of the Company (the “Consideration Shares”) to Atha and incurring a total of
Plateau Property
Inspiration may exercise the option on the Plateau Property by satisfying all of the following conditions:
Issuing an aggregate of 2,165,114 Consideration Shares to Atha within two (2) business days following regulatory approval at the market price of the common shares of the Company; and
2. Incurring exploration expenditures on the Plateau Property in the following amounts:
(i)
(ii) an additional
(iii) an additional
This Option Agreement will terminate at Atha’s discretion if Inspiration fails to incur exploration expenditures and issue the Consideration Shares to Atha as set out above or if CSE acceptance is not granted within 35 days of the effective date of the Option Agreement.
Ledger Property
Inspiration may exercise the option on the Ledge Property by satisfying all of the following conditions:
Issuing an aggregate of 2,165,114 Consideration Shares to Atha within two (2) business days following regulatory approval at the market price of the common shares of the Company; and
2. Incurring Exploration Expenditures on the Ledge Property in the following amounts:
(i)
(ii) an additional
(iii) an additional
This Option Agreement will terminate at Atha’s discretion if Inspiration fails to incur exploration expenditures and issue the Consideration Shares to Atha as set out above or if CSE acceptance is not granted within 35 days of the effective date of the Option Agreement.
NI 43-101 Disclosure
About
For more information, please refer to the Company's information available on SEDAR+ (www.sedarplus.ca).
On Behalf of the Board of Directors
Chief Executive Officer, President, and Director
Phone: 604-808-3156
Email: info@inspiration.energy
Neither the
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions, including with respect to the Company’s ability or intention to complete the Options Agreements, as described above. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR+ in
Copyright (c) 2024 TheNewswire - All rights reserved.
Copyright (c) 2024 TheNewswire - All rights reserved., source