Tisdale Clean Energy Completes First Two Drill Holes at the South Falcon East Uranium Project, Athabasca Basin, Saskatchewan
Tisdale Clean Energy Completes First Two Drill Holes at the
South Falcon East Uranium Project, Athabasca Basin,
Saskatchewan
Vancouver B.C., April 1, 2024 – TISDALE CLEAN ENERGY CORP. (“Tisdale” or the “Company”)
(TSX.V: T CEC, OTC QB: TCEFF, FSE: T1KC), is pleased to provide an update on the phase one
diamond drill program recently conducted at the South Falcon East Uranium Project, which hosts
the Fraser Lakes B uranium deposit.
The 12,464-ha South Falcon East Project lies 18 km outside the edge of the Athabasca Basin,
approximately 50 km east of the Key Lake uranium mill and former mine (Figure 1). Tisdale Clean
Energy Corp entered into an option agreement with Skyharbour Resources Ltd in October of 2022
whereby the company can earn up to a 75% interest in the South Falcon East property.
This initial 2024 program is scheduled to complete up to 1500m of drilling in two phases, with
the priority being the confirmation of existing mineralization. Follow-up drill programs will then
be pursued to both facilitate expansion of the known Fraser Lake B deposit and to test multiple
additional high-priority exploration targets at South Falcon East (Figure 2).
Phase one included 442m drilled in the first two drill holes . Hole SF-0059 was completed to a
depth of 221m and intersected multiple zones of uranium mineralization over 13.5m, confirming
the presence of mineralization in the vicinity of historical hole FP-15-05 (see below) .
Mineralization occurs within altered pelitic gneiss containing granitic pegmatites, overlying
graphitic pelitic gneiss.
Highlights include:
• 0.02% eU3O8 over 5.6 m from 129.65 to 135.25 m, including:
• 0.07% eU3O8 over 1.1 m from 131.75 to 132.85 m. This included a 0.2 m interval
grading 0.11% eU3O8.
• 0.03% eU3O8 over 4.1 m from 137.65 to 141.75 m, including:
• 0.11% eU3O8 over 0.2 m from 138.15 to 138.35m
• 0.05% eU3O8 over 0.2 m from 139.55 to 139.75m
• 0.06% eU3O8 over 0.2 m from 141.35. to 141.55m
The second drill hole of the program, SF -0060, was targeted to test for an extension of the
mineralization in FP-15-05 along strike 25m to the Northeast of the mineralized intercept of FP -
15-05. Hole SF-0060 was completed to a depth of 221m. Several zone s of mineralization were
also encountered, below 132m, with the best intersection occurring within altered pelitic gneiss
containing graphite and granitic pegmatites.
This zone is highlighted by:
• 0.02% eU3O8 over 1.3 m from 142.15 to 143.45 m, including:
• 0.05% eU3O8 over 0.1 m from 142.55 to 142.65 m.
“We’re pleased to see uranium values comparable to the grades of the known resource in the
first drill two drill holes completed on the property in nearly a decade,” said Alex Klenman, CEO.
“This is what we need to see as we confirm then pursue expansion. We are starting with a
historical resource of nearly 7 million pounds of uranium contained in a shallow deposit. The
opportunity we have here is exceptional, certainly unique for a company with our market cap,
and we believe we’re just scratching the surface in terms of what can be achieved at South Falcon
East,” continued Mr. Klenman.
“We are encouraged to be intersecting the expected mineralization near the previous drilling at
South Falcon East ,” commented Trevor Perkins, Consulting Geologist for Tisdale. “This
confirmation of existing mineralization is a necessary first step to expanding the Fraser Lakes B
@hUranium Deposit,” continued Mr. Perkins.
Samples of the mineralized intervals within the drill core have been collected and shipped for
analysis at the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon,
Saskatchewan. The Company will provide more detailed results once geochemical analysis of the
collected drill core samples is completed, reviewed, and confirmed.
The results of these two drill holes confirm the presence of mineralized pegmatites and pelitic
paragneiss within the deposit and project area. Graphitic pelitic paragneiss are the key lithology
associated with uranium deposits within the eastern Athabasca Basin and are a good indication
that additional pegmatite deposits as well as basement hosted unconformity related uranium
deposits may be present along the Way Lake Conductor , within the South Falcon East claim
boundaries.
Drilling at South Falcon East is scheduled to resume later this spring. The Company will release
details on the dates of mobilization and drill commencement once they are confirmed. Phase
two drilling will again be conducted by Terralogic Exploration Inc. under the supervision of Laura
Tennent, Project Manager with TerraLogic Exploration, and C. Trevor Perkins, lead geologist for
Tisdale. The drill program is operating out of Skyharbour’s McGowan Lake Camp with helicopter
support for the daily drilling operations.
Historical Drill Hole FP-15-05
Historical diamond drill hole FP-15-05 was drilled by Skyharbour Resources in 2015 and returned
multiple zones of mineralization over a 14m interval, including 6m of .10% U308 (including a 2m
interval of 0.165% U3O8 (from 135 m) and 2.5m of 0.172% U3O8 ( from 145m). This is the best
intersection to date on the property and along the Way Lake conductive trend.
This hole, it should be noted, had to be abandoned due to equipment issues at 165m within the
mineralized zone, leaving steel drill rods throughout the hole. Tisdale’s initial drill hole, SF-0059,
was planned to twin historical hole FP -15-05. Modifications were made to accommodate the
presence of the material left behind in the hole and a djustments made to mitigate a lack of
precision in tracing of FP-105-05, as no downhole orientation surveys were able to be completed,
and any potential downhole deviation was unable to be determined. As a result, a larger
separation and step forward was required, as well as the use of non-magnetic downhole
orientation survey equipment. SF-0059 was therefore located 2.0m forward (in front, up-dip) of
FP-15-05 to ensure no interference.
Figure 1: South Falcon East Project Location – Eastern Athabasca Basin, Saskatchewan, Canada
Use of Radiometric Equivalent Grades
Drillholes are logged for in-situ radioactivity using a calibrated Mount Sopris Triple Gamma probe
which collects continuous readings along the length of the drillhole. The probe records the
amount of radioactivity present in the rock adjacent to the probe as it moves up and down the
hole. Preliminary radiometric equivalent grades (% eU3O8) are then calculated from the
downhole radiometric results using an algorithm derived from the calibration of the downhole
probe equipment. The Triple Gamma probe was calibrated prior to the commencement of the
current drill program at the Saskatchewan Research Council test pit facility in Saskatoon,
Saskatchewan.
Using down-hole probes to calculate radiometric equivalent grades is a common practice used
by uranium exploration and mining companies in the Athabasca Basin. Tisdale will report
radiometric equivalent grades as a preliminary result indicative of intersected mineralization
pending the receipt of definitive assay grades once geochemical analysis of collected drill core
samples from the mineralized intervals are c omplete. The samples will be analyzed at the
Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon, Saskatchewan.
Figure 2: 2024 Drill Target areas at the south Falcon East Uranium Project
Figure 3: 2024 Drill location map in relation to FP-15-05 and the Way Lake Conductor.
About the South Falcon East Project
The South Falcon East Project is a uranium exploration project in the southeast Athabasca Basin
and represents a portion of Skyharbour Resources Ltd.’s existing South Falcon Project. The
project covers approximately 12,464 hectares and lies 18 kilometers outside the Athabasca Basin,
approximately 50 kilometers east of the Key Lake Mine.
The South Falcon East Project contains the Fraser Lakes B Uranium /Thorium Deposit with a
historic mineral resource* of 6.9 Mlbs U3O8 inferred at a grade of 0.03% U3O8 and 5.3 Mlbs
ThO2 inferred at a grade of 0.023 % ThO2. Uranium and thorium mineralization discovered to
date is shallow classic Athabasca-style basement mineralization associated with well-developed
EM conductors. The exploration potential of the Fraser Lakes target area is considered
exceptional, including the historical resource expansion potential of the current deposit at Zone
B.
About Tisdale Clean Energy Corp.
Tisdale Clean Energy is a Canadian -based uranium exploration and development company. The
Company is currently developing the South Falcon East uranium project, which holds a 6.96M
pound inferred uranium resource within the Fraser Lakes B uranium/thorium deposit, located in
the Athabasca Basin region, Saskatchewan, Canada.
Qualified Person
The technical information in this news release has been prepared in accordance with the
Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf
of the company by C. Trevor Perkins, P.Geo., Lead Geologist for the Company, and a Qualified
Person as defined by National Instrument 43-101.
*The historical resource is described in the Technical Report on the South Falcon East Property,
filed on sedar.com on February 9, 2023. The Company is not treating the resource as current and
has not completed sufficient work to classify the resource as a current mineral resource. While
the Company is not treating the historical resource as current, it does believe the work conducted
is reliable and the information may be of assistance to readers.
ON BEHALF OF THE BOARD OF TISDALE CLEAN ENERGY CORP.
“Alex Klenman”
Alex Klenman, CEO
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This news release may contain certain “Forward-Looking Statements” within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities
laws. When or if used in this news release, the words “anticipate ”, “believe”, “estimate”,
“expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify
forward-looking statements or information. Such statements represent the Company’s current
views with respect to future events and are necessarily based upon a number of assumptions
and estimates that, while considered reasonable by the Company, are inherently subject to
significant business, economic, competitive, political, and social risks, contingencies and
uncertainties. Many factors, both known and unknown, could cause results, performance, or
achievements to be materially different from the results, performance or achievements that are
or may be expressed or implied by such forward -looking statements. The Company does not
intend, and does not assume any obligation, to update these forward -looking statements or
information to reflect changes in assumptions or changes in circumstances or any other events
affecting such statements and information other than as required by applicable laws, rules, and
regulations.