IsoEnergy reports 44M lb. U3O8 initial resource for Hurricane deposit

IsoEnergy (TSXV: ISO; OTC: ISENF) has announced an initial mineral resource estimate for the Hurricane uranium deposit, part of its 100% owned Larocque East project in the eastern Athabasca Basin of Saskatchewan. The resource estimate was conducted by SLR Consulting, using assays from 52 diamond drill holes totaling 20,387 metres and 785 samples.

Indicated mineral resources totalled 48.61 million lb. of uranium oxide (U₃O₈) based on 63,800 tonnes grading 34.5% U₃O₈, including 43,9 million lb. of U₃O₈ at an average grade of 52.1% U₃O₈ within the high-grade domain. Inferred resources were 2.66 million lb. of U₃O₈ based on 54,300 tonnes grading 2.2% U₃O₈.

The Hurricane deposit was discovered in 2018 by IsoEnergy’s first ever drill hole at Larocque East, which intersected a broad, 8.5-metre-long interval averaging 1.26% U₃O₈. Since then, the company has completed six drill programs within the Hurricane zone, which now measures 375 metres along strike, 125 metres across, and up to 12 metres thick. The high-grade domain occupies an area 125 metres long and is up to 63 metres wide and up to 4.5 metres thick.

In February, the company reported the final assay results from its summer 2021 drilling at the Hurricane zone, highlighted by a high-grade intercept of 6.5 metres averaging 20.4% U₃O₈, including 3.5 metres averaging 34.5% U₃O₈.

“Hurricane’s exceptionally high uranium grade and relatively shallow depth, together with its proximity to existing eastern Athabasca Basin road, power and milling infrastructure are key attributes,” Tim Gabruch, president and CEO of IsoEnergy, said.

“This mineral resource estimate establishes Hurricane as the world’s newest, very high-grade uranium deposit. On average, one cubic metre of Hurricane’s high-grade domain weighs over 4.5 tonnes and contains over 5,200 lb. of U₃O₈,” Andy Carmichael, VP exploration, added.

“Of the past and presently producing uranium mines in the Athabasca Basin, Hurricane is most analogous to the Cigar Lake deposit at the nearby operating mine with respect to the mineralization’s grade, thickness, width, style, and the alteration halo and ground conditions which mantle the deposit. Notably, Hurricane’s mineral resource estimate employs a cut-off grade consistent with uranium mineral resource estimates reported from Cigar Lake and other operations in the eastern Athabasca Basin.”