TCEC.c's Insider Activity, and High-Grade Uranium Prospects Tisdale Clean Energy Corp. (Ticker: TCEC.c or TCEFF for US investors) has captured attention with its project near the prolific Athabasca Basin and its attractive valuation. With a tight share structure of 16 million shares and a market capitalization below $3 million, the company is positioned intriguingly.
Demonstrating high internal confidence, TCEC's CEO bought $3550 in the company's shares on the open market yesterday. This brings the total value of shares that the CEO has bought so far this month to over $93k.
Today TCEC.c, traded on high volume today, eventually closing even, hopefully clearing out weak hands and building a strong based at these levels
Nestled 18 km from the southeast Athabasca Basin, TCEC holds the option to secure a 75% interest in the de-risked South Falcon East project, covering 12,234 hectares and offering logistical and geological advantages.
The project's Fraser Lakes Zone B deposit is of specific interest, exhibiting promising results in a 2015 drill program, revealing potential high-grade uranium mineralization. This exploration marked the discovery of the highest-grade mineralization in the deposit area to date, with 0.172% U3O8 and 0.112% ThO2 over 2.5 meters. Notably, the Fraser Lakes Zone B deposit 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. The estimate suggests the presence of 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 resource estimate, expansion potential exists in the Fraser Lakes Zone B deposit. In anticipation, TCEC is planning a 2000-meter drill program in early 2024, concentrating on high-grade areas to augment the existing resource. This initiative is poised to act as a significant catalyst for the year.
TCEC is well-financed for exploration, recently closing the first tranche of its private placement, generating $775,000 in gross proceeds, with additional financing in progress.
Press Release: https://www.tisdalecleanenergy.com/latest
Posted on behalf of Tisdale Clean Energy Corp.