Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
IsoEnergy (TSXV: ISO) reported receiving encouraging results from its summer drilling program on the Hurricane zone at the Larocque East property in Saskatchewan.
In a press release, the Vancouver-based miner said that chemical assays received for drill hole LE19-18C1 comprised 1.2% U3O8 over 5.0 metres, including 3.9% U3O8 over 0.5 metres, while strong uranium mineralization was intersected in drill hole LE19-28, with an intersection of 10.5 metres >1,000 CPS, including 1.0 metres >20,000 CPS, as well as in drill hole LE19-29, with an intersection of 2.0 metres >1,000CPS, including 0.5 metres >20,000CPS.
The newly defined strong resistivity anomaly to the east of the known Hurricane deposit provides a high priority target for the follow-up winter 2019/2020 drill program
IsoEnergy also said that the length of the Hurricane zone was extended to 500 metres with an intersection of uranium mineralization on section.
“With the zone now extending at least 500 metres along-strike, Hurricane is the most exciting recent uranium discovery in the Athabasca basin,” Craig Parry, the company’s CEO, said in the media brief.
“Additional drilling to evaluate the size of the system is clearly warranted, especially considering the results of our DC-Resistivity geophysical survey. In addition to the positive results on the Hurricane deposit, I am highly encouraged by the results of our eastern most hole, which suggests that the newly defined strong resistivity anomaly at the east end of the Hurricane host conductor has further potential.”
The Larocque East property consists of six mineral claims totaling 3,200 hectares, located in the eastern Athabasca basin.
It is also situated 35 kilometres northwest of Orano Canada’s McClean Lake uranium mine and mill and is immediately adjacent to, but not quite contiguous with, the north end of IsoEnergy’s recently expanded Geiger property.
