North Shore Uranium Completes Maiden Drill Program at Falcon; Elevated Radioactivity, Fault Zones and Alteration Identified
MARCH 20, 2024 TSX-V:NSU
NORTH SHORE URANIUM COMPLETES MAIDEN DRILL
PROGRAM AT FALCON; ELEVATED RADIOACTIVITY, FAULT
ZONES AND ALTERATION IDENTIFIED
North Shore Uranium Ltd. (TSX-V: NSU) (“North Shore” or the “Company”) is pleased to announce
that it has completed a maiden drill program at its 55,699 hectare Falcon Property (“Falcon” or the
“Property”) located at the eastern margin of the Athabasca Basin in northern Saskatchewan. During the
program, three targets were drilled along a strong, dominantly northeast-trending electromagnetic (“EM”)
conductor system, P03, P08 and P12 (Table 1 and Figures 1 and 2). At P03 and P08 the targeted sub-vertical
EM conductors were intersected. At P12, the hole had to be terminated prior to reaching the interpreted
conductor depth. Highlights from the program include:
• Radioactivity. Elevated total count gamma probe readings were obtained at targets P03 and P08
with a maximum value of 2695 counts per second (“cps”) at P03.
• Conductor modeling . Three-dimensional plate models of the EM conductor systems were
modelled using Maxwell EMIT software. At P03 and P08, the targeted conductors were intersected
very close to the depths predicted by the models.
• Favorable structures. A brittle graphitic fault zone with angular rubble and clay gouge underlain
by gneiss with strong silica alteration and patchy chlorite alteration w as encountered coincident
with the EM conductor at P03. A brittle fault zone with bleached clay, hematite staining and altered
pegmatite explained the EM conductor at P08.
• Next Steps. Fault zones and alteration similar to that encountered at P03 and P08 can be associated
with basement-hosted uranium mineralization. The forthcoming analytical results integrated
with the drill hole data will guide future work related to these two targets. Target P12 remains
untested and should be drilled again to reach the targeted EM conductor depth . It lies within a
prominent interpreted structural zone near several other priority targets in the South Walker area.
In addition, multiple high priority untested targets on the Property have the potential for basement-
hosted uranium mineralization. Using its proven exploration methods, the Company will continue
to prioritize these targets for future field evaluation and drilling.
Select samples of drill core have been sent for analysis, and final analytical results are expected in four to
six weeks. The geochemical analyses are performed to detect the presence of uranium, pathfinder elements,
gold and other metals.
Mr. Brooke Clements, President and CEO of North Shore stated: “The initial results from our maiden drill
program are encouraging and confirm the presence of sub-vertical basement structures with associated
radioactivity, graphite and alteration at P03 and P08. The intersection of altered and graphitic structures
at the modelled Maxwell plate depths validates our team’s exploration approach and techniques. The initial
results from the program also reinforce our belief that Falcon is a highly prospective uranium property
and affirm the prospectivity of other compelling untested EM conductors that have been identified . Many
of these targets are associated with interpreted structures. The Company is excited to receive the analytical
results from this program and looks forward to maximizing its exposure to a significant discovery by
continuing to evaluate target zones at Falcon with the potential to host an economic uranium deposit.”
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TABLE 1: FALCON DRILLLING SUMMARY
Drillhole Information Gamma Probe Results*
ID Prospect Dip
(°)
Azi
(°)
Over-
burden
(m)
Final
Depth
(m)
From
(m)
To
(m)
Avg.
cps
Peak
cps
FN24001 P03 -50 135 6 230 196.51
199.92
203.21
205.42
196.92
200.92
203.51
206.32
1475
849
775
705
2695
1637
1022
1196
FN24002 P08 -47 120 30.5 144 42.25 45.95 1085 2120
FN24003 P12 -47 315 2.5 106 No gamma probe testing as hole
was abandoned due to unstable
ground conditions before target
horizon was reached
* The results are for total gamma ray counts and were obtained using a Mount Sopris 2SNA-1000-S Spectral
Gamma-Ray probe
Figure 1: Electromagnetics with 2024 drill targets P03, P08 and P12. Processing by Condor North Consulting
ULC using 2006 and 2007 airborne data.
Power Line
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Figure 2: Total field magnetics with 2024 drill targets P03, P08 and P12. Processing by Condor North
Consulting ULC using 2006 and 2007 airborne data.
Target P03
Drillhole FN24001 at target P03 in the north Knob Lake area intersected approximately six metres of
overburden followed by an alternating succession of metasedimentary rocks comprised of variably
garnetiferous and graphitic pelitic gneisses, cross-cut by numerous plagioclase- dominant granitic
pegmatites to 222.53m. Granite with intercalations of biotite -garnetiferous pelite was encountered to the
end of hole at 230m. The metasediments between 94-175m were host to an estimated 0.1%-1% pyrrhotite
and 0.1- 0.5% pyrite. A blocky fracture zone and interpreted brittle fault with graphite-rich gouge was
encountered within the graphitic gneiss unit between 193.48- 196.01m; the projected EM conductor
intersection depth was 195 m. A key interval just below this fault zone associated with strong localized
chlorite and silica alteration between 196.5 and 206.3m returned the most notable gamma probe readings.
A pegmatite-rich interval from 196.51- 196.92m returned a gamma probe reading of 2695 cps. The
combination of the spatial relationship between the graphitic horizon, the structure, alteration and the
radioactivity upgrade this target. P03 has the exploration criteria that are important for a basement -hosted
uranium mineralizing system. This structure together with other zones of the EM conductor system in the
immediate area are prospective as potential conduits for precipitated uranium within basement -hosted
graphitic fault zones, and follow-up drilling will be considered.
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Drill hole FN24001
Target P08
Drillhole FN24002 was also drilled in the northern Knob Lake Area. After intersect ing 30.5 metres of
overburden, an alternating succession of metasedimentary rocks comprised of variably garnetiferous and
graphitic pelitic gneiss and schists cross- cut by numerous plagioclase and K -feldspar granitic pegmatites
was encountered to 132.32m. Granitic gneiss intersected by K-feldspar granitic pegmatites is present until
the end of hole at 144m. The graphitic metasediments throughout the hole were host to up to 30 percent
graphite, with localized patches up to 60 percent. The most notable gamma probe results were returned
between 42.25- 45.95m, within a K-feldspar pegmatitic interval with a peak reading of 2120 cps. This
anomalous interval was followed by a brittle fault zone, from 43.90- 49.00m, comprised of fractured
pegmatites and blocky and rubbly graphitic metasediments. The entire graphitic schist upper portion of the
hole displayed very strong patchy chlorite -cordierite-hematite-illite alteration to 102.27m. From 102.27-
105.55m, a brittle pegmatitic and graphitic fault zone was intersected at the projected depth of the Maxwell
conductor plate. This lower fault zone displayed strong bleaching (illite+/-sericite) clay alteration, strong
hematite and chlorite along fractures and patchy silica alteration. These alteration minerals can be indicative
of a proximal hydrothermal system, The results suggest the possibility that the structures at target P08 could
be related to a basement-hosted, fault-controlled mineralizing system and future follow-up drilling will be
considered.
Target P12
FN24003 was drilled at P12 in the South Walker area within a prominent interpreted northeast -trending
structural zone as defined by EM and magnetics. After drilling three metres of glacial overburden,
extensively fractured monzonitic orthogneisses cross-cut by plagioclase and K-feldspar granitic pegmatites
was encountered to 52.08m. A succession of variably garnetiferous and graphitic metasediments cross-cut
by plagioclase-rich pegmatites was encountered to the final hole depth of 107.60m. The hole was abandoned
before reaching the modelled M axwell conductor plate depth of approximately 125m due to unstable
ground conditions and was not evaluated with the gamma probe. Therefore, the target remains untested and
will likely be targeted for drilling in a future program.
Drill Program logistics and Quality Control, Quality Assurance and Analytical Procedures
Multiple potential targets with favorable geologic and geophysical characteristics were evaluated, and three
were selected for drilling. The drill program was managed by Laura Tennent, B.Sc of TerraLogic
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Exploration Inc, (“TerraLogic”). The drill contractor was Quesnel Brothers Diamond Drilling Ltd. based
in Denare Beach, Saskatchewan.
TerraLogic adheres to best management exploration practices, including Quality Assurance and Quality
Control (QA/QC). All standard operating procedures have been developed and overseen by Jarrod Brown
M.Sc., P.Geo. of TerraLogic, a Qualified Person as defined by National Instrument 43-101 – Standards of
Disclosure for Mineral Projects.
All drill core was systematically photographed, measured (recovery, rock quality designation (“RQD”) ,
natural fracture count , longest stick), oriented (Reflex – ACTIII) and logged ( lithology, alteration,
mineralization, structure, veins, brecciation and w eathering). The core was then scanned with a RS230
Spectrometer to determine total gamma Counts Per Second (CPS), and with a KT -10 magnetic
susceptibility meter. Upon completion of the drilling, while the rods are still in the hole, a calibrated Mount
Sopris 2SNA-1000-S Gamma-Ray Spectrometer Probe rented from Terraplus Inc. was used to measure the
natural gamma spectra within the hole. Measurements for total counts (GR-total, counts per second (“cps”),
Potassium cps (K), Thorium cps (Th) and Uranium cps (U) were collected. The data is processed using
WellCad software and the Terraplus Inc. calibrated K-Factor.
QA/QC protocols are maintained through the random insertion of blanks and certified reference material
(standards) throughout the drill core sampling process. Drill core is split in half with a manual splitter, select
split samples are then placed in a sealed bag and transported by TerraLogic personnel to the laboratory
while the remainder is stored on site. Analytical testing will be performed by the Saskatchewan Research
Council Geoanalytical Laboratories in Saskatoon, Saskatchewan.
Falcon Property Background Information
Falcon is a highly prospective uranium exploration project with a limited exploration history at the eastern
margin of the Athabasca Basin in an area that is seeing increased exploration activity and recent discoveries.
Reinterpretation of EM data complemented by geophysical data acquired in 2022 has allowed the Company
to identify high priority uranium targets in areas with limited previous drilling. The Property is located
approximately 35 kilometres east of the active Key Lake uranium mill and former mine. The new uranium
discovery potential at Falcon is significant including shallow basement -hosted unconformity-style
mineralization and pegmatite-hosted mineralization similar to that discovered at the Fraser Lakes Zone B
uranium resource located just three kilometres south of the Property.
Falcon consists of 15 mineral claims; four of the claims comprising 12,791 hectares are 100 percent-owned
by the Company and the remaining 11 claims totaling 42,908 hectares are subject to an option agreement
with Skyharbour Resources Ltd. Under the terms of the option agreement, North Shore can earn an 80%
interest in the 11 claims and has the option to purchase the remaining 20% interest after it has earned its
initial 80% interest.
About North Shore Uranium
The near-term business objectives of North Shore Uranium are to become a major force in exploration for
economic uranium deposits at the eastern margin of Saskatchewan’s Athabasca Basin, a tier-one jurisdiction
for discovering new mineable high -grade uranium deposits. The Company will work to achieve those
objectives by conducting exploration programs on its two properties, Falcon and the West Bear Property,
located 90 kilometres northeast of Falcon, and by evaluating opportunities to increase its portfolio of
properties in the region.
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Qualified Person
Mr. Brooke Clements, MSc, P.Geol., a Q ualified Person as defined by National Instrument 43- 101 –
Standards of Disclosure for Mineral Projects and the President and CEO of North Shore, has reviewed and
approved the scientific and technical disclosure in this press release.
ON BEHALF OF THE BOARD
Brooke Clements,
President, Chief Executive Officer and Director
For further information:
Please contact: Brooke Clements, President, Chief Executive Officer and Director
Telephone: 604.536.2711
Email: [email protected]
www.northshoreuranium.com
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this release.
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