IsoEnergy Ltd. (TSXV: ISO) (OTCQX: ISENF) started its 2024 winter exploration campaign in the eastern Athabasca basin with plans to drill 8,250 meters with a budget of CAD$4 million.
Announced on Monday, the company’s campaign includes drill test targets to the east of its Hurricane deposit in the Laroque East Project with new targets originally designated from the Hawk Project in 2023.
The Larocque East Project contains the Hurricane deposit, which holds an Indicated Mineral Resource of 48.6 million pounds at 34.5 per cent U3O8, as well as an Inferred Mineral Resource of 2.7 million pounds at 2.2 per cent U3O8.
The company plans to conduct drilling of 3,150 metres to test two targets located to the east of the Hurricane deposit within the conductor corridor. This corridor was defined by the Ambient Noise Tomography (ANT) survey conducted in the summer of 2023. The ANT survey identified a significant low velocity response in each target area, which the company interprets as alteration, similar to the response observed at the Hurricane deposit.
Both targets have received little to no drilling in the past. They also offer the potential for expansion within the conductor corridor, which extends another 9 kilometres to the east of the Hurricane deposit.
The Hawk project involves plans to conduct drilling of 5,100 metres to investigate a 2 km long anomaly detected using Ambient Noise Tomography (ANT) and electromagnetic (EM) techniques.
This anomaly is spatially connected to elevated radioactivity, sandstone alteration, and brittle deformation observed in both basement and sandstone rocks.
Larocque East exploration target areas and the eastern extension of the prospective conductor corridor. Image via IsoEnergy.
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IsoEnergy to employ ground survey to find new drill targets
The company also has plans to perform a ground electromagnetic (EM) survey along the northeastern extension of the ANT and conductivity anomaly to identify new drilling targets.
IsoEnergy awarded Team Drilling the contract for diamond drilling services for the 2024 exploration programs. The company has scheduled drilling to start with two rigs on the Hawk project in late January, followed by Laroque. Both programs are set to conclude by April. The results obtained from both programs will guide the planning of summer work programs.
Beyond the Hawk Project, the company holds six major deposits, including the exploration stage East Rim. ATHA Energy Corp. (CSE: SASK) (FRA: X5U) (OTCQB: SASKF) holds 10 per cent upside in the East Rim project. The East Rim project spans the eastern margin of the Athabasca Basin consisting of 12 claims over 25,111 hectares.
In 2023, the exploration activities conducted at East Rim have made it almost ready for drilling. Subsequently, the inversion of data from previous airborne surveys revealed several magnetic and density lows. This suggests the possibility of basement-style uranium mineralization. VTEM airborne surveying detected broad conductive zones in the western and south-western parts of the property, while ANT surveying pinpointed an abrupt velocity anomaly within the southern conductive zone.
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