Tisdale Clean Energy Corp C.TCEC

TCEC Completes First Two Drill Holes at South Falcon

[MarketMakerss]

Yesterday, Tisdale Clean Energy (TCEC.c TCEFF) announced the completion of the first two drill holes at its South Falcon East Uranium Project in the Athabasca Basin, Saskatchewan.

 

Boasting a historical resource with 7 million pounds of uranium delineated with above average grade and the potential to substantially increase its grade and size, the 12,464 hectare South Falcon East Project hosts the Fraser Lakes B Uranium Deposit.

 

Initial 2024 program is scheduled to complete up to 1500m of drilling in two phases with the main priority targeting the confirmation and expansion of existing mineralization.

 

Phase one included 442m drilled in he first two holes which saw the intersection of multiple zones of uranium mineralization over 13.5m, confirming the presence of mineralization in the vicinity of the historical hole.

 

Furthermore, mineralization occurs within altered pelitic gneiss containing granitic pegmatites, overlying graphitic pelitic gneiss.

 

The second drill hole was targeted to test for an extension of the mineralization along strike 25km to the Northeast of the previously mineralized intercept which additionally saw several zones of mineralization below 132m.

 

Highlights include:

• 0.02% eU over 5.6 m from 129.65 to 135.25 m, including:
  • 0.07% eU over 1.1 m from 131.75 to 132.85 m. This included a 0.2 m interval grading 0.11% eU
• 0.03% eU over 4.1 m from 137.65 to 141.75 m, including:
  • 0.11% eU over 0.2 m from 138.15 to 138.35m
  • 0.05% eU over 0.2 m from 139.55 to 139.75m
  • 0.06% eU over 0.2 m from 141.35. to 141.55m
• 0.02% eU over 1.3 m from 142.15 to 143.45 m, including:
  • 0.05% eU over 0.1 m from 142.55 to 142.65 m.

 

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, TCEC CEO Alex Klenman, commented:

“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,”

 

This marks the necessary first step to expanding the Fraser Lakes B Uranium Deposit, as these results confirm the presence of mineralized pegmatites and pelitic paragneiss within the deposit area - a good indication that additional pegmatite deposits may be present along the way as seen throughout the Basin.

 

With samples of the mineralized intervals within the drill core send for analysis, drilling at South Falcon East will resume later this spring.

 

Follow-up drill programs will be pursued following the completion of these phases to additionally facilitate expansion of the known Fraser Lake B deposit and to test multiple additional high-priority exploration targets at South Falcon.

 

Notably, previous drilling undertaken by Skyharbour Resources, saw an almost 500% increase over the grade of the deposit, demonstrating that "there's higher grade material within this deposit and potentially elsewhere on the project ground".

 

As the current mineralization is open in all directions, significant resource expansion potential remains at the deposit.

 

Full News Release: https://www.tisdalecleanenergy.com/latest

 

Posted on Behalf of Tisdale Clean Energy Corp.