IsoEnergy Intersects 7.5m of 22.7% U3O8 in Drill Hole LE20-52 Including 2.5m of 67.2% U3O8
IsoEnergy Intersects 7.5m of 22.7% U3O8 in Drill Hole LE20-52
Including 2.5m of 67.2% U3O8
Company to Host Conference Call Wednesday April 15, 2020 at 11:00am PST
Vancouver, BC, April 15, 2020 – IsoEnergy Ltd. (“IsoEnergy” or the “Company”) (TSXV: ISO; OTCQX: ISENF) is pleased
to report final assay results from the winter 2020 drilling program at the Hurricane zone. Discovered in 2018 at the
Larocque East property, the Hurricane zone is a recent discovery of high-grade uranium mineralization. Larocque
East is 100% owned by IsoEnergy and is located in the prolific Eastern Athabasca Basin of Saskatchewan (Figure 1).
Winter Drilling Selected Highlights:
Drill hole LE20-52 assays average 22.7% U 3O8 over 7.5m from 318.5 to 326.0m, including 67.2% U 3O8 over
2.5m from 322.5 to 325.0m
Drill hole LE20-53 assays average 11.7% U3O8 over 10.5m from 317.5 to 328.0m, including 40.4% U 3O8 over
3.0m from 324.5 to 327.5m
Drill Hole LE20-51 assays average 14.5% U 3O8 and 3.5% Ni over 7.5m from 322.5 to 330.0m*
Drill Hole LE20-40 assays average 20.5% U 3O8 over 4.0m from 322.5 to 326.5m*
Drill Hole LE20-34 assays average 33.9% U 3O8 over 8.5m from 326.0 to 334.5m, including 5.0m averaging
57.1% U3O8 from 328.0 to 333.0m*
Drill Hole LE20-32A assays average 19.6% U 3O8 over 8.5m from 329.5 to 338.0m, including 2.5m of 63.6%
U3O8 from 334.5 to 337.0m*
*Previously released assay results
Craig Parry, Chief Executive Officer commented: “I’d like to congratulate our technical team on these latest results
and on the highly successful winter drilling program. Drilling has continued to deliver long intervals of high-grade
pitchblende uranium mineralization, confirming Hurricane as major discovery. It is worth noting that the Hurricane
deposit is in an exceptional location in the eastern Athabasca close to key infrastructure and only 40km from Orano’s
McLean Lake Mill. These latest results from our winter program come at a crucial time for the uranium exploration
and mining sector. In recent days we have seen the major producers announce extended closures of their mines and
mills which we estimate has reduced global uranium production volumes by over 50%. Already we have seen the
uranium spot price rise over 30% from $24/lb three weeks ago to $31.50/lb today, breaking the important
psychological barrier of $30/lb in the process. This rise has occurred without the full impact of physical product being
removed from the market and when these announced supply cuts take full effect in coming weeks, we expect to see
further upward pressure on prices. Against this backdrop IsoEnergy remains well positioned with $3.5m in cash and
we look forward to reporting on plans for further drilling at our high-grade Hurricane discovery.”
Steve Blower, Vice President of Exploration commented: “The last two drill holes of the campaign have returned
very high-grade uranium assays over long intervals. The southernmost drill holes on all five sections in the western
end of the Hurricane zone are now all strongly mineralized. Clearly there is room for expansion of this very high-
grade area within the larger Hurricane zone footprint, which now measures 575m long, up to 40m wide and up to
11m thick.”
Investor Conference Call and Webcast
The Company will be hosting a conference call today, April 15, 2020 at 11:00 AM PST (2:00 PM EST), to give a
corporate presentation, discuss the winter drilling program, and host a Q&A for investors and other interested
parties.
Details of the Call:
Participant toll free dial in number: (844) 618-5255
Audience URL:
https://onlinexperiences.com/Launch/QReg/ShowUUID=3DFB8AE5-B96E-4255-AE54-C68AD316766F
The presentation to be covered on the call can also be found on the Company’s website:
https://www.isoenergy.ca/
Final Assays Received
Drill Hole LE20-52 (Hurricane Section 4435E)
Drill hole LE20-52 was designed to evaluate the potential for additional high-grade mineralization to the south of
drill holes LE20-40 and LE20-34 (Figures 2 and 3). It successfully intersected a thick interval of strong uranium
mineralization at the sub-Athabasca unconformity that averages 22.7% U 3O8 over 7.5m from 318.5 to 326.0m. The
interval includes a very high-grade section that averages 67.2% U 3O8 over 2.5m from 322.5 to 325.0m. Within the
very high-grade section is a subinterval of continuous off-scale (>65K CPS on an RS-125 handheld spectrometer)
mineralization that averages 79.9% U3O8 over 1.5m from 322.5 to 324.0m. Figure 4 is a core photo of the mineralized
interval.
Drill Hole LE20-53 (Hurricane Section 4410E)
Drill hole LE20-53 was completed 25m along-strike to the west of drill hole LE20-52 (Figures 2 and 5). It successfully
intersected 10.5m of strong uranium mineralization at the sub-Athabasca unconformity from 317.5 to 328.0m that
averages 11.7% U 3O8 (Figures 2 and 4). The intersection includes a 3.0m subinterval of very strong uranium
mineralization that averages 40.4% U 3O8 from 324.5 to 327.5m. Within the very high-grade section is a subinterval
of off-scale (>65K CPS on an RS-125 handheld spectrometer) mineralization that averages 62.7% U 3O8 over 0.5m
from 326.0 to 326.5m. Figure 6 is a core photo of the mineralized interval.
Next Steps
All assays from the 2020 winter drilling program at the Hurricane zone have now been received. Data compilation
and interpretation of the drilling results are well underway, as is planning for a summer drilling program that will
continue to define the extent of the Hurricane zone. The timing and amount of summer drilling may be impacted
by the COVID-19 pandemic. The Company continues to monitor the situation will make decisions regarding future
work programs in due course.
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
LE20-463 318.0 328.0 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
LE20-483 316.0 327.5 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
LE20-493 320.5 329.5 9.0 >500 1.1 0.1 000/-90 Section 4510E
incl. 326.5 327.5 1.0 >10,000 3.4 0.0
LE20-513 322.5 330.0 7.5 >500 14.5 3.5 000/-90 Section 4510E
incl. 325.5 329.0 3.5 >10,000 30.9 7.1
Incl. 326.0 329.0 3.0 >20,000 35.2 8.2
LE20-524 318.5 326.0 7.5 >500 22.7 0.4 000/-90 Section 4435E
incl. 322.5 325.0 2.5 >10,000 67.2 0.7
incl. 322.5 324.0 1.5 Off-scale 5 79.9 0.5
LE20-534 317.5 328.0 10.5 >500 11.7 0.3 000/-90 Section 4410E
incl. 324.5 327.5 3.0 >20,000 40.4 0.8
incl. 326.0 326.5 0.5 Off-scale 5 62.7 0.3
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 – Western Hurricane Zone Drill Hole Location Map
Figure 3 – Cross Section 4435E (Drill Hole LE20-52)
Figure 4 – Drill Hole LE20-52 Core Photo of Mineralization
Figure 5 – Cross Section 4410E (Drill Hole LE20-53)