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CALGARY, Alberta, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Global Uranium Corp. (CSE: GURN | OTC: GURFF | FRA: Q3J) (the “Company”) is pleased to announce the initiation of its collaboration with Big Rock Exploration ("BRE") to scope out geophysical surveys for its uranium exploration claims in Wyoming. This engagement follows the signing of a Letter of Engagement with BRE last fall, further advancing the Company’s efforts to evaluate the potential of its strategically located claims.
Big Rock Exploration will assess the feasibility of conducting ground-based and UAV magnetic surveys across Global Uranium’s claim areas, focusing on developing the Company’s exploration strategy for roll-front uranium deposits. The proposed magnetic surveys would aim to map subsurface that are of importance in roll-front uranium systems, as they may influence the migration and deposition of uranium-bearing fluids. By delineating these structures, Global Uranium can continue improving its understanding of the local geological frameworks in each project area to identify high-priority drill targets. This initiative would build upon the radiometric datasets collected during the summer of 2024, which successfully identified zones of elevated gamma radiation on the Airline and Big Bend claims.
In addition to scoping geophysical surveys, Big Rock Exploration is performing a desktop review of the project areas, which consists of consolidating public geospatial data relevant to the project areas to address jurisdictional risk management, including land position, access, surface and mineral ownership, and any special management areas. A review of potential legacy and historical data sources within a buffer around the project areas will follow. Subsequently, potential data sources will be prioritized to ensure that high-value targets are efficiently addressed. The desktop program aims to provide a detailed understanding of the exploration landscape, further de-risking the project and enhancing the design of subsequent field surveys.
“The work in Wyoming is just beginning and we are excited to be working with Big Rock Exploration to build upon the successful datasets we saw with the radiometric surveys last summer,” said Ungad Chadda, CEO at Global Uranium. “We want to determine if combining radiometric and magnetic data will allow us to develop a more robust understanding of the subsurface environment, and provide us the tools we need to make informed decisions as we prepare for the next phase of exploration.”
Global Uranium and Big Rock Exploration will collaborate to define the scope and logistics of the geophysical surveys. The initial focus will include key claim areas in the Copper Mountain and Great Divide Basin Districts, with survey designs tailored to local geological and topographic conditions.
Qualified Person
Jared Suchan, Ph.D., P.Geo., VP of Exploration for the Company, and a Qualified Person (as such term is defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects), has reviewed and approved the scientific and technical disclosure contained in this news release.
Quality Assurance and Quality Control
For a discussion of the Company’s QA/QC and data verification processes and procedures at the NWA Project, please see its technical report entitled “NI 43-101 on the Northwest Athabasca Project Northern Saskatchewan Centered at: Latitude 59°24’00” N, Longitude 109°54’00” W”, with an effective date of June 27, 2024, which is available under the Company’s profile at www.sedarplus.ca.
On Behalf of The Management Team
Ungad [email protected]
Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the intention to continue exploration efforts on the Project with the aim of further unlocking the Project’s potential; and the expectation that natural attenuation will allow the site to recover without further action.
Although forward-looking information is based on the reasonable assumptions of the Company’s management, there can be no assurance that any forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include the risk that exploration of the Project may not continue, whether as a result of a lack of financial resources, a failure to receive the requisite permits or approvals, the discretion of management of the joint venture or otherwise; the risk that exploration of the Project will not progress as currently contemplated and, that, even if exploration does proceed as anticipated, such exploration activities may not achieve their anticipated outcomes; risks inherent in the exploration and development of mineral projects, including risks relating to receiving requisite permits and approvals, changes in project parameters or delays as plans continue to be redefined, that mineral exploration is inherently uncertain and that the results of mineral exploration may not be indicative of the actual geology or mineralization of a project; the risk that mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company; risks related to joint ventures and the other risks and factors identified by the Company in its continuous disclosure filings, filed on the Company’s SEDAR+ profile at www.sedarplus.ca.
The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this press release.
