With 6.5x the average volume following a second round of substantial insider buying on the open market from its CEO, Tisdale Clean Energy (TCEC.c TCEFF) is focused on helping meet the rising need for clean energy and higher global demand for uranium through its acquisition and exploration of uranium projects.
This buying from TCEC CEO, Alexander Klenman, adds to his previous purchase of $50k worth of shares on the open market, showing a substantial level of internal confidence.
The South Falcon East Property & Fraser Lake Zone Deposit
Spanning over 12,200ha in the southeast portion of the Athabasca Basin, in close proximity to two all-weather northern highways and grid power, TCEC a 75% interest in the de-risked South Falcon East Property.
With exceptional potential including resource expansion potential along strike and at depth at the Fraser Lake Zone B uranium deposit, a 6km by 7km target area, the Project shows distinct similarities to high grade, basement-hosted deposits in the Athabasca Basin such as Eagle Point, Millennium, P-Patch and Roughrider.
The Athabasca Basin is home to the world's highest grade uranium deposits, providing more than 20% of the global supply of uranium.
Historical Exploration Work
A previous historical NI 43-101 mineral resource estimate done by TCEC's option partner, Skyharbour Resources, showed 6,960,681 pounds U3O8 inferred at average grade of 0.03% U3O8 and 5,339,219 pounds ThO2 inferred at average grade of 0.023% ThO2 within 10,354,926 tonnes (cutoff grade of 0.01% U3O8) - however, this is not taken as a current mineral resource estimate due to the remaining potential for expansion at the deposit.
Skyharbor's 2015 drill program which consisted of 1,278m in five holes, intersected the highest grade mineralization found to date in deposit area, 0.172% U3O8 and 0.112% ThO2 over 2.5 metres.
Additionally, historical drilling consisting of 25 holes totalling 4,603m has defined a zone of moderately dipping, multiple-stacked uranium and thorium mineralized horizons down to 175m, open to the southwest, east-northeast and at depth.
Going forward, TCEC is planning an exploration program at South Falcon that is set to begin in early 2024. Consisting of 2,000m of drilling, the priority is to confirm and expand the existing mineralization associated with the Fraser Lakes B Uranium Deposit.
Infill drilling will be conducted to confirm the presence and continuity of existing mineralization in preparation for a current updated resource estimate and model, as well as step out drilling to expand the footprint of the deposit as current mineralization is open in all directions.
TCEC additionally plans to undertake regional exploration by following up on promising anomalies located in the T-Bone Lake Area with drilling focused on adding additional mineralized zones and deposits.
With the opportunity to build significant value at the project, TCEC believes it can increase both the size and overall grade of the asset, as supported by the substantial level of insider buying on the open market as of late.
Posted on Behalf of Tisdale Clean Energy Corp.