Mineral Resource Estimate (July 8, 2022)
- CIM (2014) definitions were followed for all Mineral Resource categories.
- Mineral Resources are estimated at a uranium cut-off grade of 1.00% U3O8,
- Tonnes are based on bulk density weighting.
- Mineral Resources are estimated using a long-term uranium price of US$65/lb U3O8.
- Minimum grade width of one metre was applied to the resource domain wireframes.
- Bulk density was interpolated using values derived from a regression curve based on U3O8 assay values.
- Numbers may not add due to rounding.
For additional information regarding the Larocque East project please refer to the Technical Report entitled “Technical Report on the Larocque East Project, Northern Saskatchewan, Canada” dated July 12, 2022 prepared by SLR Consulting (Canada) Ltd., available under IsoEnergy’s profile on www.sedarplus.ca. The “qualified person” for this technical report is Mark B. Mathisen, C.P.G., Principal Geologist, SLR Consulting International Corp. Mr. Mathisen is a “qualified person” under NI 43-101.
In addition to Larocque East, IsoEnergy holds over 20 strategically located and prospective assets covering 220,000 hectares in the eastern Athabasca Basin region. This includes Hawk, East Rim, Geiger, Thorburn Lake and Radio.
The Hawk project hosts at least 15km of prospective conductive strike with depths to the unconformity interpreted to be between 600m and 750m. Drilling on the property has intersected anomalous radioactivity along with other anomalous pathfinder elements associated with significant sandstone structure and alteration along a conductive magnetic low corridor.
The East Rim project is highly prospective for shallow basement hosted uranium mineralisation as it is located along the southeastern edge of the Athabasca basin in an area that not received significant prior exploration. Target depths are relatively shallow as sandstone thickness ranges between 0 and 260 metres.
The Geiger property hosts high grade basement hosted uranium mineralization of up to 2.74% U3O8 over 1.2 metres and is located within 20 kilometres of the McClean Lake uranium mill.
The Thorburn Lake project is located 7 kilometers east of Cameco's Cigar Lake mine. Uranium has been intersected on the property, including 0.6 metres of 0.43% U3O8 in drill hole TBN-11-05a in basement rocks immediately below the sub-Athabasca unconformity. Numerous geophysical targets remain to be drilled at Thorburn Lake.
The Radio project is located 2 kilometres east (and along strike) of Rio Tinto’s Roughrider uranium deposit. Exploration drilling by IsoEnergy in 2016 and 2017 located a large zone of strong clay alteration with locally elevated uranium geochemistry in basement rocks along the southern boundary of the property. Additional targets warrant drill testing.
IsoEnergy also holds a portfolio of permitted, past-producing conventional uranium and vanadium mines in Utah with a toll milling arrangement in place with Energy Fuels Inc. At the Tony M uranium mine, the Company announced its strategic decision to reopen access to the underground with the goal of restarting uranium production operations as market conditions permit.