Drilling Program Summary:
o 8,500 metres planned in approximately 20 drill holes
o Infill drilling to further define 500m long mineralized trend
o Expansion drilling to evaluate potential to expand along-strike both east and west
Program Details
The planned winter core drilling campaign consists of a total of 8,500 m in approximately 20 drill holes. The program has two main objectives - infill and expansion (Figure 3).
One drill will infill the current 500 m long footprint of the Hurricane zone and attempt to expand it to the west, where a 75m gap remains between the westernmost drill hole (LE19-12) and the property boundary. Drill hole LE19-12 intersected 3.2% U3O8 and 2.1% Ni over 8.5m in 2019. Most cross-sections remain open, including section 4635E where drill hole LE19-16A intersected 5.4% U3O8 over 7.0 m. Infill drilling will also target along-strike gaps of up to 250 m between drill sections.
The second drill will evaluate the potential to expand the zone to the east. This will include following up on the strong alteration and elevated geochemistry and radioactivity in step-out drill hole LE19-26 (Figure 4), the only drill hole completed by the Company to date that is beyond the 500m long Hurricane zone footprint. Results from a DC-Resistivity geophysical survey completed in the summer of 2019 support the highly prospective nature of the area, which extends for several kilometres to the east. Drilling metres and holes are expected to be split approximately equally between both objectives. Results of the program will be reported periodically through the winter.
The Larocque East Property and the
The 100% owned Larocque East property consists of 20 mineral claims totaling 8,371 ha and is 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
Qualified Person Statement
The scientific and technical information contained in this news release was prepared by
About
Neither the
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
.
(C) 2020 M2 COMMUNICATIONS, source