IsoEnergy Intersects 5.5m of Uranium Mineralization in First Drill Hole of Summer Program at the Hurricane Zone

Highlights

• Drill Hole LE19-14B intersected a 2.0m thick upper zone of sandstone hosted mineralization from 323.0-325.0m
• The upper zone is followed by a 3.5m thick lower zone of dominantly sandstone hosted mineralization sitting on top of the sub-Athabasca unconformity from 327.5-331.0m
• Fifteen planned drill holes remain in the fully funded summer program

Steve Blower, Vice President of Exploration commented: “This intersection in drill hole LE19-14B helps to confirm the continuity of mineralization within the Hurricane zone and is a good start to the summer program.  We look forward to completing aggressive step-out drill holes to the east with most of the remaining planned metres.  As well, 3-4 drill holes will be devoted to in-fill drilling within the current Hurricane zone footprint.”

Drill Hole LE19-14B

Drill hole LE19-14B is vertically oriented and designed to intersect the Hurricane zone midway between drill holes LE19-08 and LE19-09.  After penetrating 41m of overburden followed by Athabasca sandstone, the unconformity was intersected at 330.9m.  The lower sandstone was intensely bleached, desilicified, and clay altered below 230.0m.  An upper interval of sandstone hosted uranium mineralization (>1,000cps on an RS-125 hand-held spectrometer) was intersected at 323.0-325.0m, and was followed by a lower zone of dominantly sandstone hosted mineralization (>1,000cps) from 327.5-331.0m that sits on top of the sub-Athabasca unconformity.  Table 1 compares the radioactivity in LE19-14B against the intersections from the recently completed winter program.  Figure 2 shows the location of the drill hole on a plan-view and Figure 3 shows the location on a cross-section.

Next Steps

Fifteen planned drill holes remain in the fully funded summer drilling program.  The next drill hole, LE19-15, will be completed as an under-cutting, angled drill hole on the first step-out fence east of drill hole LE19-13.  Drill hole LE19-15 will locate the key basement graphitic units and structures beneath the projected extension of the Hurricane zone.  It will be followed by a vertical drill hole aimed to intersect the optimal location for the Hurricane zone at the unconformity.

The Larocque East Property

The Property consists of 20 mineral claims totaling 8,371ha.  The original portion was purchased in May, 2018 before being expanded by recent staking.  The Property is owned 100% by IsoEnergy and is not encumbered by any royalties or other interests.  Larocque East is immediately adjacent to the north end of IsoEnergy’s Geiger property and is 35 kilometres northwest of Orano Canada’s McClean Lake uranium mine and mill. 

Along with other target areas, the Property covers a 15-kilometre-long northeast extension of the Larocque Lake conductor system; a trend of graphitic metasedimentary basement rocks that is associated with significant uranium mineralization at the Hurricane zone, and in several occurrences on Cameco Corp.’s neighbouring property to the southwest of Larocque East.  The Hurricane zone was discovered in July, 2018 and was recently followed up with a 12-hole drilling campaign in the winter of 2019.  Eleven of those 12 drill holes intersected substantial uranium mineralization, including 10.4% U₃O₈ over 3.5m in drill hole LE19-02 and 3.2% U₃O₈ over 8.5m in drill hole LE19-12.  Drilling at Cameco Corp.’s Larocque Lake zone on the neighbouring property to the southwest has returned historical intersections of up to 29.9% U₃O₈ over 7.0 metres in drill hole Q22-040.  Like the nearby Geiger property, Larocque East is located adjacent to the Wollaston-Mudjatik transition zone – a major crustal suture related to most of the major uranium deposits in the eastern Athabasca Basin.  Importantly, the sandstone cover on the Property is thin, ranging between 140 metres and 330 metres in previous drilling.  In addition to the Hurricane zone discovery, four historical drill holes have intersected weak uranium mineralization at other locations on the Property to date. 

Qualified Person Statement

The scientific and technical information contained in this news release was prepared by Andy Carmichael, P.Geo., IsoEnergy’s Senior Geologist, who is a “Qualified Person” (as defined in NI 43-101 – Standards of Disclosure for Mineral Projects).  Mr. Carmichael has verified the data disclosed.  As drill hole LE19-14B was drilled vertically into a zone of mineralization that is interpreted to be horizontal, the core lengths are approximately equal to the true thickness.  This news release refers to properties other than those in which the Company has an interest. Mineralization on those other properties is not necessarily indicative of mineralization on the Company’s properties.  For additional information regarding the Company’s Larocque East Project, including its quality assurance and quality control procedures, please see the Technical Report dated effective May 15, 2019 on the Company’s profile at www.sedar.com.

About IsoEnergy

IsoEnergy is a well-funded uranium exploration and development company with a portfolio of prospective projects in the eastern Athabasca Basin in Saskatchewan, Canada and a historic inferred mineral resource estimate at the Mountain Lake uranium deposit in Nunavut.  IsoEnergy is led by a Board and Management team with a track record of success in uranium exploration, development and operations.  The Company was founded and is supported by the team at its major shareholder, NexGen Energy Ltd.

Craig Parry
Chief Executive Officer
IsoEnergy Ltd.
+1 778 379 3211
cparry@isoenergy.ca
www.isoenergy.ca

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