IsoEnergy Intersects 7.5m of 14.5% U3O8 in Drill Hole LE20-51 Including 3.5m of 30.9% U3O8
IsoEnergy Intersects 7.5m of 14.5% U3O8 in Drill Hole LE20-51
Including 3.5m of 30.9% U3O8
Vancouver, BC, March 31, 2020 – IsoEnergy Ltd. (“ IsoEnergy” or the “ Company”) ( TSXV: ISO; OTCQX: ISENF ) is
pleased to report additional assay results from the winter 2020 drilling program at the Hurricane zone. The
Hurricane zone is a new discovery of high-grade uranium mineralization on the Company’s 100% owned Larocque
East property (the “Property”) in the Eastern Athabasca Basin of Saskatchewan (Figure 1).
Highlights:
Assays received from drill hole LE20-51 average 14.5% U 3O8 and 3.5% Ni over 7.5m from 322.5 to 330.0m
(see the core photo in Figure 2)
A higher-grade sub-interval within LE20-51 averages 30.9% U 3O8 and 7.1% Ni over 3.5 m from 325.5 to
329.0m
Other assay results include 3.6% U 3O8 and 1.4% Ni over 10.0m from 318.0 to 328.0m in drill hole LE20-46.
Assays from the final two drill holes LE20-52 and LE20-53 are still pending, both of which intersected long
lengths of strong uranium mineralization, including sub-intervals of off-scale radioactivity (>65K CPS RS-
125)
Craig Parry, Chief Executive Officer commented: “These results come at an important time for the uranium mining
industry. With the suspension of operations at several uranium mines and mills around the world including at the
world’s largest mine - Cameco’s Cigar Lake – we are starting to see uranium prices in the spot market rise strongly
in recent days. Should these mines stay offline for an extended period we see further upward pressure on prices as
utilities move to secure supply. IsoEnergy continues to be one of the most active uranium explorers globally and the
great results from these holes are further evidence of the high-grade nature and significance of the Hurricane
discovery. We currently have $3.7 million on hand and so are well funded for 2020 and beyond.”
Steve Blower, Vice President of Exploration commented: “Assay results from the Hurricane zone continue to impress.
Drill hole LE20-51 intersected a new zone of higher-grade uranium mineralization. Previously reported radioactivity
results in drill holes LE20-52 and LE20-53 suggest that those two drill holes are both within the same higher-grade
zone and we look forward to reporting their assay results soon. The large size of the 575m long Hurricane zone
footprint combined with a relatively small number of drill holes completed to date suggests that there is good
potential for the discovery of other higher-grade zones within Hurricane.”
Assays Received
Drill Hole LE20-51 (Hurricane Section 4510E)
Drill hole LE20-51 was completed 8m south of previously reported drill hole LE20-32A (19.6% U 3O8 over 8.5m) and
was designed to evaluate the potential for additional high-grade mineralization south of that drill hole. The result
was successful, with LE20-51 intersecting a thick zone of strong uranium and nickel mineralization that averages
14.5% U3O8 and 3.5% Ni over 7.5m from 322.5 to 330.0m. This includes a 3.5m subinterval from 325.5 to 329.0m
that averages 30.9% U 3O8 and 7.1% Ni. The higher-grade subinterval contains common “worm-rock” textured
intergrowths of pitchblende and hematite along with abundant visible nickel mineralization (Figure 2). Figures 3 and
4 show the position of the drill hole on a plan-view and cross-section, respectively.
Drill Holes LE20-46 and LE20-48 (Hurricane Section 4485E)
Drill holes LE20-46 and 48 were designed to evaluate the potential for additional high-grade uranium mineralization
to the north and south of drill hole LE19-12 (Figures 3 and 5). Both of the drill holes intersected thick intervals of
uranium mineralization. Drill hole LE20-46 intersected 3.6% U 3O8 and 1.4% Ni over 10.0m from 318.0 to 328.0m,
including 2.0m that averages 12.8% U 3O8 and 1.6% Ni from 323.0 to 325.0m. Drill hole LE20-48 intersected 1.3%
U3O8 over 11.5m from 316.0 to 327.5m.
Drill Hole LE20-49 (Hurricane Section 4510E)
Completed 15m north of drill hole LE20-32A, drill hole LE20-49 intersected a long interval of uranium mineralization
that averages 1.1% U3O8 over 9.0m from 320.5 to 329.5m.
Next Steps
Assays for the final two drill holes completed at the Hurricane zone are expected to be reported soon. Data
compilation and interpretation of the winter drilling results are well underway, as is planning for a potential summer
drilling program that will continue to define the extent of the Hurricane zone.
The Larocque East Property and the Hurricane Zone
The 100% owned Larocque East property consists of 20 mineral claims totaling 8,371 ha that are not encumbered
by any royalties or other interests. Larocque East is immediately adjacent to the north end of IsoEnergy’s Geiger
property and is 35 km northwest of Orano Canada’s McClean Lake uranium mine and mill.
Along with other target areas, the Property covers a 15-kilometre-long northeast extension of the Larocque Lake
conductor system; a trend of graphitic metasedimentary basement rocks that is associated with significant uranium
mineralization at the Hurricane zone, and in several occurrences on Cameco Corp. and Orano Canada Inc.’s
neighbouring property to the southwest of Larocque East. The Hurricane zone was discovered in July, 2018 and was
followed up with 29 drill holes in 2019 and an additional 14 drill holes to date in 2020. Dimensions are currently
575m along-strike, 40m wide and up to 11m thick. The zone is open for expansion along-strike to the east and on
most sections. Mineralization is polymetallic and commonly straddles the sub-Athabasca unconformity 320 m below
surface. The best intersection to date is 33.9% U 3O8 over 8.5m in drill hole LE20-34. Drilling at Cameco Corp.’s
Larocque Lake zone on the neighbouring property to the southwest has returned historical intersections of up to
29.9% U3O8 over 7.0m in drill hole Q22-040. Like the nearby Geiger property, Larocque East is located adjacent to
the Wollaston-Mudjatik transition zone - a major crustal suture related to most of the uranium deposits in the
eastern Athabasca Basin. Importantly, the sandstone cover on the Property is thin, ranging between 140m and 330m
in previous drilling.
Table 1 – 2020 Hurricane Zone Results
Hole-ID From (m) To (m) Length (m) Radioactivity 1,2 Chemical Assays Orientation Location
(CPS) U 3O8 (%) Ni (%) (Azm/Dip)
LE20-303 330.0 335.5 5.5 >500 7.1 0.9 180/-80 Section 4460E
incl. 331.0 331.5 0.5 >10,000 3.4 0.1
and incl. 332.0 333.5 1.5 >20,000 24.0 2.7
LE20-32A3 329.5 338.0 8.5 >500 19.6 1.1 180/-80 Section 4510E
incl. 334.5 337.0 2.5 >20,000 63.6 0.4
incl. 335.0 336.5 1.5 Off-scale 5 76.7 0.3
LE20-343 326.0 334.5 8.5 >500 33.9 0.5 180/-80 Section 4435E
incl. 328.0 333.0 5.0 >20,000 57.1 0.7
incl. 329.5 331.5 2.0 Off-scale 5 62.8 0.4
LE20-363 332.5 333.5 1.0 >500 3.7 1.0 180/-80 Section 4460E
incl. 332.5 333.0 0.5 >20,000 5.5 1.3
LE20-383 319.5 327.0 7.5 >500 2.0 0.2 000/-90 Section 4460E
incl. 325.0 325.5 0.5 >20,000 3.5 0.0
and incl. 326.0 326.5 0.5 >20,000 9.8 0.1
LE20-403 319.5 320.5 1.0 >500 0.1 0.1 000/-90 Section 4435E
and 322.5 326.5 4.0 >500 20.5 1.0
incl. 323.0 324.5 1.5 >20,000 53.8 2.3
incl. 323.0 323.5 0.5 Off-scale 5 64.9 0.2
LE20-423 326.0 329.0 3.0 >500 0.4 0.2 000/-90 Section 4410E
LE20-443 325.5 326.0 0.5 >500 0.2 0.0 000/-90 Section 4460E
and 327.5 329.0 1.5 >500 0.3 0.6
LE20-464 318.0 328.0 10.0 >500 3.6 1.4 000/-90 Section 4485E
incl. 323.0 325.0 2.0 >20,000 12.8 1.6
and 326.0 327.0 1.0 >10,000 4.5 4.9
LE20-484 316.0 327.5 11.5 >500 1.3 0.3 000/-90 Section 4485E
incl. 321.0 321.5 0.5 >10,000 3.6 1.2
and incl. 324.0 327.0 3.0 >10,000 3.3 0.2
incl. 324.5 325.0 0.5 >20,000 5.1 0.2
LE20-494 320.5 329.5 9.0 >500 1.1 0.1 000/-90 Section 4510E
incl. 326.5 327.5 1.0 >10,000 3.4 0.0
LE20-514 322.5 330.0 7.5 >500 14.5 3.5 000/-90 Section 4510E
incl. 325.5 329.0 3.5 >10,000 30.9 7.1
LE20-524 312.5 313.0 0.5 >500 Pending 000/-90 Section 4435E
and 318.5 326.0 7.5 >500
incl. 322.5 325.0 2.5 >10,000
incl. 322.5 324.0 1.5 Off-scale 5
LE20-534 317.5 328.0 10.5 >500 Pending 000/-90 Section 4410E
incl. 324.5 327.5 3.0 >20,000
incl. 326.0 326.5 0.5 Off-scale 5
Notes: 1. Radioactivity is total gamma from drill core measured with an RS-125 hand-held spectrometer
2. Measurements of total gamma on drill core are an indication of uranium content, but may not correlate with chemical assays
3. Radioactivity and chemical assays previously disclosed
4. Radioactivity previously disclosed
5. Off-scale radioactivity is defined as exceeding 65,536 cps, the maximum measurable by an RS-125 spectrometer
Figure 1 – Larocque East Property Map
Figure 2 – Drill Hole LE20-51 Core Photo of Mineralization
Figure 3 – Western Hurricane Zone Drill Hole Location Map
Figure 4 – Cross Section 4510E (Drill Holes LE20-49 and LE20-51)
Figure 5 – Cross Section 4485E (Drill Holes LE20-46 and LE20-48)