Energy
Wednesday, November 1st, 2023 2:21 pm EDT
Key Points
- Exploration Plans: Tisdale Clean Energy Corp. has announced its plans to initiate exploration activities at the South Falcon East Uranium Project, which includes the Fraser Lakes B uranium deposit. The project is located 18 km outside the Athabasca Basin in Saskatchewan, Canada.
- Option Agreement with Skyharbour Resources: In October 2022, Tisdale entered into an option agreement with Skyharbour Resources Ltd., allowing the company to earn up to a 75% interest in the South Falcon East project.
- Preliminary Drill Program: The company is preparing for an extensive preliminary drill program in early 2024, involving approximately 2,000 meters of drilling. The primary objectives of the program are to confirm and expand existing mineralization associated with the Fraser Lakes B Uranium Deposit. Infill drilling will confirm the presence and continuity of mineralization, while step-out drilling aims to expand the deposit’s footprint. Additionally, regional exploration will focus on identifying additional mineralized zones and deposits in the area.
Tisdale Clean Energy Corp. (“Tisdale” or the “Company”) (TSX.V:TCEC)(OTC:TCEFF)(FSE:T1KC),is pleased to announce plans to begin exploration at its South Falcon East Uranium Project which hosts the Fraser Lakes B uranium deposit. The south Falcon East Project lies 18 km outside the edge of the Athabasca Basin, approximately 50 km east of the Key Lake uranium mill and former mine.
Tisdale Clean Energy Corp entered into an option agreement with Skyharbour Resources Ltd in October of 2022 whereby the company can earn up to a 75% interest in the South Falcon East project.
The Company is planning an extensive preliminary drill program in early 2024. The program will consist of approximately 2,000 meters of drilling. The priority will be to confirm and expand the existing mineralization associated with the Fraser Lakes B Uranium Deposit (Figure 2). Infill drilling will confirm the presence and continuity of existing mineralization in preparation for a current updated resource estimate and model in the future. Step out drilling will endeavor to expand the footprint of the deposit, as the current mineralization is open in all directions. Initial focus will be in extending mineralization along strike and down dip into the basement.
A secondary priority will be to begin regional exploration by following up promising anomalies located in the T-Bone Lake area (Figure 2). Regional drilling will focus on the effort to add additional mineralized zones and deposits along the folded structural package that hosts the Fraser Lakes B Deposit.
The initial drill program will be operating out of Skyharbour’s McGowan Lake Camp with helicopter support for the daily drilling operations.
“We’re eager to begin the development of the South Falcon uranium deposit,”
said Alex Klenman, CEO. “We have a great opportunity to build value here. As we deploy capital into the project, we’ll earn credit for the pounds in the ground. We believe we can increase both the size and the overall grade of the asset. With current optimism in the sector, we feel we’re entering the earn-in with Skyharbour at the best possible time,” continued Mr. Klenman.
Figure 1: South Falcon East Project Location – Eastern Athabasca Basin, Saskatchewan, Canada
Figure 2: 2023 Drill Target areas at the south Falcon East Uranium Project
Figure 3: South Falcon East Project – Camp and drilling location Map
About the South Falcon East Project
The South Falcon East Project is a uranium exploration project in the southeast Athabasca Basin and represents a portion of Skyharbour Resources Ltd.’s existing South Falcon Project. The project covers approximately 12,464 hectares and lies 18 kilometers outside the Athabasca Basin, approximately 50 kilometers east of the Key Lake Mine.
The South Falcon East Project contains the Fraser Lakes B Uranium/Thorium Deposit with a historic mineral resource* of 6.9 Mlbs U3O8 inferred at a grade of 0.03% U3O8 and 5.3 Mlbs ThO2 inferred at a grade of 0.023 % ThO2. Uranium and thorium mineralization discovered to date is shallow classic Athabasca-style basement mineralization associated with well-developed EM conductors.
*The historical resource is described in the Technical Report on the South Falcon East Property, filed on sedar.com on February 9, 2023. The Company is not treating the resource as current and has not completed sufficient work to classify the resource as a current mineral resource. While the Company is not treating the historical resource as current, it does believe the work conducted is reliable and the information may be of assistance to readers.
About Tisdale Clean Energy Corp.
Tisdale Clean Energy is a Canadian-based exploration company focused on the acquisition and advancement of critical energy/fuel projects. The Company is currently developing the South Falcon East uranium project, located in the Athabasca Basin region, Saskatchewan, Canada.
Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by C. Trevor Perkins, P.Geo., a Consulting Geologist for the Company, and a Qualified Person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF TISDALE CLEAN ENERGY CORP.
“Alex Klenman”
Alex Klenman, CEO
Neither the 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 may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.
For further information please contact:
Alex Klenman, CEO
Tel: 604-970-4330
Tisdale Clean Energy Corp
Suite 2200, HSBC Building, 885 West Georgia St.
Vancouver, BC V6C 3E8 Canada
