Vancouver, BC / ACCESSWIRE / October 15, 2015 / BRADES RESOURCE CORP. ("Brades" or "the Company") (TSXV:BRA; FRANKFURT:B04) and its 50/50 Joint Venture (JV) option partner FISSION 3.0 CORP. ("Fission 3"), , are pleased to announce commencement of a Fall exploration program at their Clearwater West property in Saskatchewan's Athabasca Basin. The program will follow up VTEM conductive anomalies, as well as a large cluster of radiometric anomalies identified by Fission 3.0's patent-pending Airborne Radiometric Survey (see NR May 27th 2014). The exploration program will consist of mapping, prospecting and a DC resistivity survey to prioritize future drill testing. Fission 3 will be the operator.
The radiometric anomalies, including the large cluster on the Clearwater West property, just inside the boundary with Fission Uranium Corp's ("Fission Uranium") adjacent Patterson Lake South property ("PLS") are interpreted to be a possible uranium boulder train or outcrop. Of note, Fission Uranium used the same airborne radiometric survey system to discover the PLS uranium boulder field, which in turn led to the major high-grade, shallow-depth discovery that the PLS property now hosts. Of further note, Fission Uranium recently announced drill intersections of uranium mineralization just 330m north (outside) the same border between Clearwater West and their PLS property.
Key Program Details
- Mapping and Prospecting
-10 day program to begin immediately.
- Follow up strong U ppm radiometric anomalies (potential uranium boulder field or outcrop) identified during the recent survey. Of particular interest are the anomalies on eastern side of property where seven high-priority conductive targets have been identified (see Fission 3 NR May 27th 2014).
- The most significant radiometric anomaly clusters are immediately down-ice (to the south-west) of the planned ground geophysics DC Resistivity survey.
- DC Resistivity ground geophysics survey. 25.5 line-km survey to be conducted during October/November over the highest priority conductive anomaly defined from the airborne VTEM survey flown over the property in September 2013.
- The airborne VTEM anomaly is interpreted as a conductive package of metapelitic gneiss with high conductivity and is associated with the down-ice airborne U ppm airborne identified radiometric anomalies (Hot Spots) mentioned above.
The objective is to identify areas along the conductor that have associated hydrothermal alteration and possible cross-faults (important features associated with high-grade uranium).
Brian Biles, Director for Brades, commented,
"We are excited that our 50/50 joint venture partner Fission 3 and the Fission technical team are starting the Fall exploration program on the JV Clearwater West property. We are optimistic that the finishing work of the fall program will lead to drill targets for the winter."
Summary of the Clearwater West Project
Brades has entered into a 3-year option to acquire up to a 50% interest in Clearwater West by incurring $5,000,000 of staged exploration expenditures on or before October 14, 2016. Year One minimum exploration requirement is $0.7M.
Fission 3's experienced and successful management and technical team, with a track record of two major high-grade uranium discoveries in the Athabasca Basin region in the past three years (Waterbury Lake project and the PLS project), operates and manages Clearwater West. Fission 3 currently holds a 100% interest in Clearwater West.
The Athabasca Basin region hosts the world's richest uranium deposits, with a well-established and politically stable, uranium exploration and mining sector. Fission 3 and Brades consider the recent discovery of high-grade uranium in the southwestern region of the Athabasca Basin to demonstrate the prospective merit of this under-explored area.
Clearwater West lies adjacent to the south of Fission Uranium's Patterson Lake South (PLS) property. Fission Uranium reports that PLS hosts a high-grade, shallow depth uranium discovery along a 2.24km trend, including intersections as high as 38.49% U3O8 over 10.5m in 13.66% U308 over 38.0m and 27.57% U3O8 over 12.0m in 11.19% U3O8 over 31.5m (PLS14-129; Fission Uranium Corp. news release dated February 19, 2014).
Clearwater West is an early stage exploration project prospective for hosting high-grade uranium mineralization. Such mineralization is structurally controlled and typically associated with basement graphitic shear zones within clay altered metasedimentary basement lithologies. These features have unique characteristics that can be identified by various geophysical surveys. The property covers historic airborne EM anomalies, which could be the extensions of the EM conductors identified on the PLS property immediately to the north.
The technical information in this news release has been reviewed on behalf of the company by Harrison Cookenboo, Ph.D., P.Geo. and Director for Brades Resource Corp., a qualified person.
About Brades Resource Corp.
Brades Resource Corp is a Canadian-based resource company focused on gold in British Columbia and uranium in Saskatchewan's Athabasca Basin - the world's largest source of high-grade uranium. The company has a joint venture with Fission 3.0 Corp. to explore Fission's Clearwater West property at which Fission's award-winning technical team will be the Operator. Brades also has a large, strategically located property at Lorne Lake in the Athabasca Basin and a gold project in British Columbia.
on behalf of the board,
Brian Biles, Director
Shares issued: 23,455,042
www.bradesresource.com
For information contact:
Brian Biles, Director
TEL: 604 687 7742
brian@bradesresource.com
Neither 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 includes certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund the option earn-in on the Clearwater West property and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements.Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
SOURCE: Brades Resources Corp.