Mining
Wednesday, February 21st, 2024 3:21 pm EDT
Key Points
- Atco Mining Inc. signed a drilling contract with Base Diamond Drilling Ltd. for work at the Atlantic Uranium Project in the Athabasca Basin.
- The Atlantic Uranium Project covers 3,061 hectares and is located in the Mudjatik geological domain, hosting uranium occurrences.
- Historical drilling data indicates uranium presence in the sandstone, with notable findings from previous drilling campaigns by companies like Cameco and Denison Mines.
Atco Mining Inc. (the “Company” or “Atco”) (CSE:ATCM) (OTC:ATMGF) (Frankfurt:QP9) is pleased to announce that it has signed a drilling contract with Base Diamond Drilling Ltd. to conduct drilling work at its newly optioned Atlantic Uranium Project (the “Project”) in the Athabasca Basin. An initial deposit has been paid and the Company will update its shareholders once drill rigs have been mobilized and the program begins.
About the Atlantic Uranium Project
The Atlantic Project consists of 7 mineral claims totaling 3,061 hectares. The Project is situated in the Mudjatik geological domain where several recent discoveries have been made, including IsoEnergy’s Hurricane uranium deposit. The Project covers 6.5 km of an 18 km long, east-west trending conductive exploration trend which hosts numerous uranium occurrences. Standard Uranium completed a high-resolution ground gravity survey on the project in 2022, revealing multiple subsurface density anomalies, potentially representing significant hydrothermal alteration zones in the sandstone and proximal to basement conductors.
Historical drilling by Cameco in 1992 (Hole BE-04) encountered up to 0.06% U3O8 over 0.5 metres in the sandstone, proximal to the unconformity. Follow-up drilling by Denison Mines in 2012 (Hole BL12-13), next to BE-04, encountered a metal-enriched fault-zone in the sandstone located 130 metres above the basement rocks that contains 10.2 ppm uranium, 786 ppm lead, and 2,270 ppm zinc over 0.1 metre. Additionally, a composite sample of the basal 13.4 metres of sandstone returned 477 ppm uranium. At the western claim block, drilling by Denison Mines in 2016 (Hole BL16-32) identified 342 ppm uranium over 0.5 metres at the base of the sandstone.
The scientific and technical information contained in this news release has been reviewed, verified, and approved by Neil McCallum, P.Geo, a director of Atco and a “qualified person” as defined in NI 43-101.
About Atco Mining (CSE: ATCM):
Atco is a junior exploration mining company focused on exploring for green energy metals throughout Canada, specifically in the uranium sector in the Athabasca Basin. Atco is also exploring salt opportunities in Western Newfoundland. Investors are encouraged to visit the company’s website here: www.atcomining.com
For further information contact:
Atco Mining Inc.
Email: info@atcomining.com
Telephone: (604) 681-0084
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release. The Canadian Securities Exchange has not in any way approved nor disapproved the contents of this news release.
