IsoEnergy Provides Update on Winter Results and Announces Summer Exploration Plans
IsoEnergy Provides Update on Winter Results and Announces Summer Exploration Plans
Saskatoon, SK, July 15, 2022 – IsoEnergy Ltd. (“IsoEnergy” or the “Company”) (TSXV: ISO; OTCQX: ISENF)
is pleased to provide an update on its winter exploration results and to announce its summer 2022
exploration plans for its eastern Athabasca Basin uranium properties (Figure 1).
Winter Assay Results and Geophysical Surveys Update
Larocque East Project
Chemical assays are summarized in Table 1 for the final two drill holes which intersected radioactivity
>500 CPS during the winter of 2022. At the Hurricane zone, LE22-115A targeted the unconformity 75m
west of LE21-101 and intersected 2.0m averaging 1.0% U3O8 between 335.0m and 337.0m which includes
a 0.5m subinterval averaging 3.3% U 3O8 from 335.5 to 336.0m. Approximately 3.8km to the east -
northeast, LE22 -116 intersected 0.5m averaging 0.4% U 3O8 from 282.0m to 282.5m. Neither result is
considered to warrant direct follow -up at this time. Figures 3 and 4 show the locations of LE22 -116 and
LE22-115A, respectively.
Table 1 – Larocque East Winter 2022 Assay Results
Notes:
1. Radioactivity is total gamma from drill core measured with an RS-125 hand-held spectrometer
2. Radioactivity previously disclosed
Hawk Project
Electromagnetic surveying completed at Hawk during the winter of 2022 advanced the project to a drill-
ready state. With multiple conductive responses mapped on each of six survey lines , the winter work
generated a drill target inventory that exceeded IsoEnergy’s expectations. The Hawk project contains over
10km of prospective magnetic low zones hosting conductors with depths to the unconformity expected
to be between 600m and 750m. The single historical drill hole completed within the project failed to
intersect conductive basement, indicating that none of the prospective stratigraphy has been effectively
tested. A first pass drilling campaign to follow up the 2022 results is planned for 2023. Figure 5 shows the
Hawk survey area and interpreted results.
U3O8 (%) Ni (%)
LE22-115A2 335.0 337.0 2.0 >500 1.0 0.1 180/-80 434.0
incl. 335.5 336.0 0.5 >5,000 3.3 0.0
LE22-1162 282.0 282.5 0.5 >500 0.4 0.0 345/-60 432.5
Hole-ID From
(m)
To
(m)
Length
(m)
Chemical Assays Orientation
(Azm/Dip)
Hole Length
(m)
Radioactivity1
(CPS)
Ranger Project
As at Hawk, electromagnetic surveying completed at Ranger during winter 2022 advanced the project to
a drill-ready state. The winter survey work mapped weakly to moderately conductive trends in two areas.
The northwestern conductive trends are associated with magnetic breaks and are completely untested by
drilling within the project. The southern conductive trends are associated with a magnetic break and the
projection of the Bird Lake Fault, a significant post -Athabasca structure which has a vertical offse t of up
to 80m. The depth to the unconformity in the survey area is expected to between 230 and 300m. A first
pass drilling campaign to follow up the 2022 results in planned for 2023. Figure 6 shows the Ranger winter
2022 survey results.
Summer Exploration Plans
Highlights:
• Diamond drilling at Larocque East, Geiger, and Trident totalling 7000m
• Airborne geophysical surveying at Evergreen, Spruce, East Rim, Edge, and Full Moon
Tim Gabruch, President and Chief Executive Officer commented: “As we move towards an initial Mineral
Resource Estimate for Hurricane and plan the next stage of advancement on that project, we will continue
to advance exploration on the eastern side of our Larocque East property and in parallel focus on
additional properties in our high-quality exploration portfolio.”
Andy Carmichael, Vice President of Exploration commented: “The second half of 2022 will see IsoEnergy
explore eight projects spread throughout the eastern Athabasca region. We are excited to resume drilling
at Larocque East and Geiger, and initial reconnaissance drilling at Trident will provide valuable geological
information on this underexplored project which is immediately adjacent to the Athabasca Basin.
Additionally, an extensive program of airborne surveying will move several of our early -stage projects
toward drill-readiness.”
Diamond Drilling:
Larocque East Project
Drilling at Larocque East will comprise six drill holes totalling 2000 m. The main objectives of the drilling
are to continue exploring the Larocque Lake conductive trend and to assess the prospectivity of the
Kernaghan trend. Drilling on the Larocque Lake trend will follow -up strongly anomalous geochemistry
within two kilometres along strike of the Hurricane zone and test high-priority geophysical targets in the
eastern portion of the project. On the Kernaghan trend, where historical drilling identified over 40 m of
unconformity topography associated with anomalous geochemistry in the Athabasca sandstones, drilling
will test for significant basement structures which would warrant follow-up. Figure 3 shows the general
target areas for Larocque East drilling.
Geiger Project
Eight holes totalling 3000m are planned at Geiger. Drilling will follow-up winter 2022 geophysical results
in the Q23 and Q48 areas where electromagnetic (EM) surveying mapped more than 35km of conductor
strike. The objective of the summer 2022 Geiger drilling is to assess these areas for the presence of
significant structures which would warrant additional follow -up. The depth to the unconformity in the
two target areas is approximately 250 to 275m. Figure 7 shows the planned drilling areas and winter 2022
geophysical survey results.
Trident Project
Drilling planned at Trident comprises eight drill holes totalling 2000 m. Four target areas at Trident
identified by IsoEnergy are characterized by the presence of electromagnetic (EM) conductors hosted
within zones of low magnetic susceptibility which are not covered by large waterbodies. As at Larocque
East and Geiger, the primary objective of drilling is to assess the target areas for the presence of
favourable basement structures which would warrant further exploration. Figure 8 shows the Trident
2022 drilling target areas.
Airborne Geophysical Surveying:
Xcalibur Multiphysics has been engaged to conduct multiparameter airborne geophysical surveying at
IsoEnergy’s early-stage Evergreen, Spruce, East Rim, Edge and Full Moon projects. The survey will employ
Xcalibur’s FALCON® Airborne Gravity Gradiometry system to acquire high -resolution gravity, magnetic,
and radiometric (spectrometry ) datasets . Gravity and magnetic data will improve the property-wide
understanding of basement geology and assist in the identification of potential alteration zones, while
radiometry aims to locate anomalous radioactivity related to near -surface showings and radioactive
boulder trains such as those that led to the discovery of several notable uranium deposits including Triple
R and Key Lake. Survey work commenced o n June 29th and is expected to be completed in mid -July.
Project locations are shown on Figure 1.
The Larocque East Property and the Hurricane Zone
The 100% owned Larocque East property consists of 33 mineral claims totaling 16,780ha. Two of the
project’s claims distal to the Hurricane zone are subject to a 2% Net Smelter Returns Royalty of which 1%
may be bought back for $1 million at IsoEnergy’s discretion. Larocque East is immediately adjacent to the
north end of IsoEnergy’s Geiger property and is 35km northwest of Orano Canada’s McClean Lake uranium
mine and mill.
Along with other target areas, the Larocque East 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, 48 drill holes
in 2020, 16 drill holes in 2021 , and five drill holes during winter 2022 . Dimensions are currently 375m
along-strike, up to 125m wide, and up to 12m thick . The zone is open for expansion along- strike to the
north and south on some sections . Mineralization is polymetallic and commonly straddles the sub -
Athabasca unconformity 325m below surface. The best intersection to date is 38.8% U 3O8 over 7.5m in
drill hole LE20 -76. Drilling at Cameco Corp.’s Laroc que 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 450m in previous
drilling.
Figure 1 – IsoEnergy Athabasca Projects
Figure 2 – Larocque East Location Map
Figure 3 – Larocque East Drilling Areas
Figure 4 – Hurricane Winter 2022 Drilling Results
Figure 5 – Hawk Survey Results
Figure 6 – Ranger Survey Results
Figure 7 – Geiger Drilling Areas
Figure 8 – Trident Drilling Areas
Qualified Person Statement
The scientific and technical information contained in this news release was prepared by Andy Carmichael,
P.Geo., IsoEnergy’s Vice President, Exploration, who is a “Qualified Person” (as defined in NI 43 -101
– Standards of Disclosure for Mineral Projects ). Mr. Carmichael has verified the data disclosed. All
radioactivity measurements reported herein are total gamma from an RS -125 hand-held spectrometer.
As mineralized drill holes at the Hurricane zone are oriented very steeply (-70 to -90 degrees) into a zone
of mineralization that is interpreted to be ho rizontal, the true thickness of the intersections is expected
to be greater than or equal to 90% of the core lengths. This news release refers to properties other than
those in which the Company has an interest. Mineralization on those other properties is not necessarily
indicative of mineralization on the Company’s properties. All chemical analyses are completed for the
Company by SRC Geoanalytical Laboratories in Saskatoon, SK. For additional information regarding the
Company’s Larocque East Project, inc luding its quality assurance and quality control procedures, please
see the Technical Report dated effective May 15, 2019, on the Company’s profile at www.sedar.com.
About IsoEnergy
IsoEnergy is a well-funded uranium exploration and development company with a portfolio of prospective
projects in the eastern Athabasca Basin in Saskatchewan, Canada. The Company recently discovered the
high-grade Hurricane Zone of uranium mineralization on its 100% owned Larocque East property in the
Eastern Athabasca Basin. IsoEnergy is led by a Board and Management team with a track record of success
in uranium exploration, devel opment, and operations. The Company was founded and is supported by
the team at its major shareholder, NexGen Energy Ltd.