CEO Share Purchases Pr&omising Uranium Project Advancements Tisdale Clean Energy Corp. (Ticker: TCEC.c) has attracted attention for its distinctive project near the Athabasca Basin and its appealing valuation. The company boasts a tight share structure of 16 million shares and a market capitalization below $3 million.
TCEC saw green on above average volume today.
+ CEO, Alex Klenman, has been scooping up shares on the open market lately, buying $8,750 today alone. Source: https://ceo.ca/insiders/alexander-klenman
Situated 18 km outside the southeast Athabasca Basin, TCEC holds the option to acquire a 75% interest in the de-risked South Falcon East project. The South Falcon East property, covering 12,234 hectares, offers logistical and geological advantages.
The project's Fraser Lakes Zone B deposit located at the south end of the property demonstrated promising results in a 2015 drill program, unveiling potential high-grade uranium mineralization.
This exploration identified the highest-grade mineralization to date in the deposit area, with 0.172% U3O8 and 0.112% ThO2 over 2.5 meters.
Notably, the Fraser Lakes Zone B deposit also shares similarities with high-grade deposits in the region.
TCEC's option partner, Skyharbour, recently updated the historical NI 43-101 mineral resource estimate for the deposit, estimating that it contains 6,960,681 pounds of U3O8 inferred at an average grade of 0.03% U3O8 and 5,339,219 pounds of ThO2 inferred at an average grade of 0.023% ThO2 within 10,354,926 tonnes (cutoff grade of 0.01% U3O8).
Despite the current low-grade resource estimate, there is expansion potential in the Fraser Lakes Zone B deposit.
Therefore, TCEC is planning a 2000-meter drill program in early 2024, with a focus on high-grade areas to enhance the current resource. This initiative is expected to serve as a significant catalyst for the year.
Company Website: https://www.tisdalecleanenergy.com
Posted on behalf of Tisdale Clean Energy Corp.