IsoEnergy Stakes Three New Uranium Exploration Properties in the Eastern Athabasca Basin and Adds Additional Claims at Geiger
IsoEnergy Stakes Three New Uranium Exploration Properties in the
Eastern Athabasca Basin and Adds Additional Claims at Geiger
Vancouver, BC, November 28, 2017 – IsoEnergy Ltd. (“IsoEnergy” or the “Company”) (TSXV: ISO; OTCQX:
ISENF) is pleased to announce that it has staked three new properties: Fox, East Rim and Full Moon in the
Eastern Athabasca Basin of Saskatchewan. Each of these properties is 100% held by the Company. Figure 1
shows the location of the new properties relative to IsoEnergy’s other Saskatchewan properties and each of
them is described in more detail below. The Company has also staked additional claims that have been added
to its high priority Geiger project purchased from AREVA Resources Canada (AREVA), Cameco Corp. (Cameco)
and JCU (Canada) Exploration Ltd. (JCU) in August of this year.
Fox
The Fox property was staked on October 26th and consists of two contiguous claims totaling 1,374 hectares
located 15 kilometres north of Cameco’s Key Lake uranium mill (Figure 2). Fox is surrounded by over 425M lbs
of uranium (U3O8) at an average grade of 5.2% U3O8 in mined‐out and undeveloped deposits at Key Lake,
(Cameco and AREVA), Millennium (Cameco and JCU) and Wheeler River’s Phoenix and Gryphon deposits
(Denison Mines Corp., Cameco and JCU) all of which are within 25 kilometres of the Fox property. Importantly,
both Millennium and Gryphon are primarily basement hosted deposits. Infrastructure in the area is excellent,
with the southern edge of the claims being within one kilometer of Fox Lake road which provides year‐round
exploration access.
According to Saskatchewan government records, no exploration drill holes have ever been completed within
the boundary of the Fox property, despite the presence of a 4.5‐kilometre‐long zone of low magnetic
susceptibility that spans the property in a north‐south direction and may indicate the presence of prospective
metasedimentary basement rocks. Mineralization at Cameco’s Millennium deposit follows a similarly oriented
trend. Depth to the sub‐Athabasca unconformity, based on drill holes on nearby properties, is estimated to be
between 205 and 400 metres. Exploration plans are being developed and will likely include initial geophysical
surveying over the magnetic low trend followed by core drilling of high priority targets.
East Rim
The East Rim property was staked on November 2, 2017 and consists of seven contiguous claims totaling 6,703
hectares. This new property is located along the east margin of the Athabasca Basin, nine kilometres southwest
of UEX Corp.’s West Bear high grade uranium deposit and nine kilometres west of Saskatchewan highway 905
(Figure 3).
The property encompasses over 15 kilometres of a northeast trending magnetic low feature that may represent
prospective metasedimentary stratigraphy. A large offset in the basin margin is observed in Saskatchewan
government data and appears spatially related to the magnetic low feature, suggesting the presence of a major
structural zone. According to Saskatchewan government records, only four exploration drill holes have ever
been completed within the East Rim property boundary, none of which are located in the prospective magnetic
low feature.
Full Moon
Consisting of 4,872 hectares in 12 contiguous claims, the Full Moon property was staked on November 7, 2017.
Full Moon is located within four kilometres of AREVA’s Moonlight uranium occurrence and six kilometres east
of IsoEnergy’s Geiger property (Figure 4). As with all of IsoEnergy’s exploration properties in Saskatchewan,
Full Moon is proximal to existing infrastructure, as it’s within 18 kilometres of the McClean Lake uranium mill.
Several prominent magnetic low trends with historic conductors are present on the Full Moon property,
including a portion of the Tuning Fork conductor system that extends on to the property from Denison Mining
Corp.’s Hatchet Lake project. Previous drilling at Tuning Fork has intersected intense basement clay alteration
with weak uranium mineralization and strong uranium pathfinder mineralization. Similar to the Fox and East
Rim properties, the Full Moon property is underexplored with only 17 historic drill holes within the property
boundary.
Additional Geiger Claims
Finally, a total of 1,605 hectares was staked over eight claims on November 7th and 21st near the Geiger
property (Figure 5). As the new claims are all within 5 kilometres of Geiger, they will be treated as an extension
of Geiger henceforth.
The new claims cover several magnetic low trends with local electromagnetic conductors. According to
Saskatchewan government records, only five holes have ever been drilled on the new claims. All of these holes
were vertical and were drilled in a tight cluster near drill hole Q24‐1 which intersected 0.11% U3O8, 0.21% Ni
and 0.17% Mo over 0.3 metres in basement rocks, just beneath the sub‐Athabasca unconformity. Three follow‐
up holes were drilled within 200 metres of Q24‐1 on section, and one was drilled 200 metres along strike to
the south. The potential for additional basement mineralization in the area is considered to be excellent.
Craig Parry, Chief Executive Officer commented: “These new claims are important additions to our Eastern
Athabasca uranium property portfolio. The addition of these claims is consistent with our strategy of increasing
our land position and target list at low cost in the world’s premier uranium district. The new properties all
satisfy our acquisition criteria with their location in the heart of the eastern Athabasca basin near several high‐
grade uranium deposits or occurrences, the presence of prospective geophysical signatures, a paucity of
drilling, thin sandstone cover and location near important infrastructure. Our team is eagerly looking forward
to exploring this new ground.”
Qualified Person Statement
The scientific and technical information contained in this news release was prepared by Steve Blower, P.Geo.,
IsoEnergy’s Vice President, Exploration, who is a “qualified person” (as defined in National Instrument 43‐101
– Standards of Disclosure for Mineral Projects). Mr. Blower has verified the data disclosed. 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.
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 and a historic inferred mineral resource
estimate at the Mountain Lake uranium deposit in Nunavut. IsoEnergy is led by a Board and Management
team with a track record of success in uranium exploration, development and operations. The Company
was founded and is supported by the team at its major shareholder, NexGen Energy Ltd.
Craig Parry
Chief Executive Officer
IsoEnergy Ltd.
+1 778 379 3211
www.isoenergy.ca
Investor Relations
Kin Communications
+1 604 684 6730
www.isoenergy.ca
Figure 1 – IsoEnergy Existing and New Property Locations
Figure 2 – Fox Property
Figure 3 – East Rim Property
Figure 4 – Full Moon Property
Figure 5 – New Geiger Claims