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IsoEnergy Drills 12.8% U3O8 over 9.0m in Drill Hole LE20-54 and Expands Hurricane Zone to the South with Two Strongly Mineralized Holes

High-Grade Uranium Mineralization Continues to Expand and Remains Open to the South and Along Strike to the East for 200m

VANCOUVER, BC, Sept. 17, 2020 /CNW/ – IsoEnergy Ltd. (“IsoEnergy” or the “Company“) (TSXV:ISO) (OTCQX:ISENF) is pleased to report additional intersections of strong radioactivity and initial chemical assays from the on-going summer drilling program at the Hurricane zone.  The Hurricane zone is a recent discovery of high-grade uranium mineralization on the Company’s 100% owned Larocque East property (the “Property“) in the Eastern Athabasca Basin of Saskatchewan (Figure 1).

Highlights:

  • Chemical assays from drill hole LE20-54 returned 9.0m of 12.8% U3O8 and 3.9% Ni from 329.5 to 338.5m, including 4.0m of 27.1% U3O8 and 5.2% Ni from 333.0-337.0m,
  • South Extension drill hole LE20-62 intersected 4.5m of uranium mineralization (>500 CPS) from 321.0 to 325.5m, including 2.5m of very strong mineralization (>30,000 CPS),
  • South Extension drill hole LE20-64 intersected 5.0m of uranium mineralization (>500 CPS) from 324.0 to 329.0m, including 4.0m of very strong mineralization (>30,000 CPS),
  • Drill holes LE20-62 and LE20-64 are located on section with, and 11m and 28m (respectively) south of well mineralized drill hole LE20-57 (previously reported),
  • LE20-62 and LE20-64 extend mineralization close to the “J” fault, which remains open along-strike to the east for 200m.

Note:

Radioactivity is total gamma from drill core measured with an RS-125 hand-held spectrometer (RS-125).

Craig Parry, Chief Executive Officer commented: “I want to congratulate our Technical team on these results.  The expansion of the Hurricane zone to the south is very encouraging.  Our team continues to deliver excellent drilling results efficiently and safely.”

Steve Blower, Vice President of Exploration commented: “Our primary objective with the summer drilling program was to extend the zone of intense uranium mineralization to the south on the western side of the Hurricane zone.  The results in drill holes LE20-62 and 64 have certainly done that.  Importantly, it has now been extended nearly to the “J” fault, which is open along-strike to the east for at least 200m.”

LE20-62 Radioactivity (Drill 1)

Drill hole LE20-62 is located 11m south of previously reported drill hole LE20-57, which was well mineralized (Figures 2 and 3).  LE20-62 cored strongly altered Athabasca sandstone before intersecting an upper 2.5m thick interval of weak uranium mineralization from 314.0-316.5m, followed by a 4.5m thick interval of strong mineralization from 321.0-325.5m.  Included in this interval is 2.5m of intensely radioactive mineralization greater than 30,000 CPS (RS-125), which includes a 0.5m sub-interval that is off-scale on the RS-125 hand-held scintillometer.  As with all drill holes to date at the Hurricane zone, the mineralization is located at the sub-Athabasca unconformity.  Table 1 summarizes the summer 2020 drilling results to date.

LE20-64 Radioactivity (Drill 1)

Located 17m south of drill hole LE20-62 (Figures 2 and 3), drill hole LE20-64 cored strongly altered Athabasca sandstone before intersecting an upper 3.5m thick layer of weak uranium mineralization from 316.5-320.0m, followed by a 5.0m thick interval of strong mineralization from 324.0-329.0m.  Included in this interval is 4.0m of intensely radioactive mineralization greater than 30,000 CPS (RS-125).  Mineralization on this north-south section (4435E) now measures at least 48m in width, and is open to the north and south.  Most importantly, the summer drilling has now expanded the zone of intense mineralization over 30m to the south, almost to the “J” fault.  This fault is parallel to the other main mineralized “H” and “I” faults, and is wide open to the east for at least 200m.

LE20-54 Assays (Drill 1)

Drilled to expand the very strong mineralization intersected in drill hole LE20-32A (8.5m @ 19.6% U3O8) during the winter 2020 drill program, drill hole LE20-54 intersected the sub-Athabasca unconformity approximately 7.0m north of winter drill hole LE20-32A (Figures 2 and 4).  Radioactivity in drill hole LE20-54 was previously reported.  Chemical assays have now been received and the intersection consists of 9.0m of uranium mineralization that averages 12.8% U3O8 and 3.9% Ni from 329.5-338.5m.  Included in this interval is 4.0m of 27.1% U3O8 and 5.2% Ni.  Within the higher-grade subinterval is a 0.5m section of off-scale radioactivity that contains 52.5% U3O8 and 1.6% Ni.

Other Drill Holes (Drill 2)

Five additional drill holes (LE20-58C1, 59, 60, 61 and 63A) have also been completed with Drill 2 on the eastern side of the Hurricane zone.  While all but LE20-60 are weakly mineralized, there have been no intersections of strong uranium mineralization in the holes completed by Drill 2 to date.

Next Steps

Expansion of the Hurricane zone mineralization to the north and south on the western side will remain the primary focus of the program.  Samples collected from the drilling completed to date are periodically shipped to the analytical laboratory in Saskatoon.  Chemical assay results generally follow within three to four weeks of the shipping dates.

The Larocque East Property and the Hurricane Zone

The 100% owned Larocque East property consists of 31 mineral claims totaling 15,878ha that are not encumbered by any royalties or other interests.  Larocque East is immediately adjacent to the north end of IsoEnergy’s Geiger property and is 35km northwest of Orano Canada’s McClean Lake uranium mine and mill.

Along with other target areas, the Property covers a 15-kilometre-long northeast extension of the Larocque Lake conductor system; a trend of graphitic metasedimentary basement rocks that is associated with significant uranium mineralization at the Hurricane zone, and in several occurrences on Cameco Corp. and Orano Canada Inc.’s neighbouring property to the southwest of Larocque East.  The Hurricane zone was discovered in July 2018 and was followed up with 29 drill holes in 2019 and an additional 14 drill holes to date in 2020.  Dimensions are currently 575m along-strike, 40m wide, and up to 11m thick.  The zone is open for expansion along-strike to the east and on most sections.  Mineralization is polymetallic and commonly straddles the sub-Athabasca unconformity 320 m below surface.  The best intersection to date is 33.9% U3O8 over 8.5m in drill hole LE20-34.  Drilling at Cameco Corp.’s Larocque Lake zone on the neighbouring property to the southwest has returned historical intersections of up to 29.9% U3O8 over 7.0m in drill hole Q22-040.  Like the nearby Geiger property, Larocque East is located adjacent to the Wollaston-Mudjatik transition zone – a major crustal suture related to most of the uranium deposits in the eastern Athabasca Basin.  Importantly, the sandstone cover on the Property is thin, ranging between 140m and 330m in previous drilling.

Table 1 – Summer 2020 Drilling Program Results

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