Aventis Energy Announces Results of High-Resolution TDEM Survey at the Corvo Uranium Project in Northern Saskatchewan
Highlights:
Mandeep Parmar, Interim Chief Executive Officer of the Company, commented,
'Confirming conductive corridors at Corvo represents a crucial initial step at the Project, and we anticipate further findings in the coming months to further our understanding of the Project. Additionally, we eagerly await results from prospecting assays as we work towards completing the first NI 43-101 report on the Project. Following the receipt of our prospecting assays, we will look to prepare for the next phase of geophysical surveys aimed at identifying targets for the 2026 drilling program.'
Figure 1. Regional map of the Project. The Project is located 45 km northeast of Atha Energy's Gemini Mineralized Zone ('GMZ') and 60 km due east of Cameco's McArthur River mine.
Corvo – 2025 Exploration Summary
From February 22 to March 16, 2025, the Company contracted Axiom Exploration Group Ltd. in partnership with New Resolution Geophysics to carry out a helicopter-borne Xcite™ TDEM and total field magnetic survey over the 12,265-hectare Corvo Project. The survey covered all 13 mineral claims of the Project, totalling 1,670.5 line-kms with a traverse line spacing of 100 m and tie-line spacing of 1,000 m over a ~122.65 km
2
area.
The helicopter-assisted survey was flown using the 30Hz Xcite™ TDEM system that simultaneously collects time domain electromagnetic, and magnetic data. The extensive survey was aimed to detect, locate, and characterize anomalous conductive and magnetic responses across the Project to aid in future exploration drill hole targeting.
The survey was completed on schedule, on budget, and successfully gathered high-resolution data to depth that will be key to identifying exploration targets under glacial cover through the delineation of conductive trends possibly related to packages of graphite and/or sulphide-bearing metasedimentary rocks commonly associated with uranium mineralization. Subsequent inversion, interpretation, and modeling of the recently acquired data in 3D software will allow the Company to prioritize newly identified exploration targets for follow-up diamond drilling programs.
The survey results confirm and improve upon the previously defined conductive corridors on the Project that overlap with historical geophysical and geochemical anomalies, in addition to drill holes with known uranium intercepts. The magnetic survey component of the TDEM survey contributes to definition of potential fault systems and structural trends not previously identified across the Project.
Supplementary geophysical surveys are being designed to further refine drill targets for an inaugural drill program. The Company plans to complete a high-resolution ground gravity survey across the main conductive trends on the Project, aiming to identify potential hydrothermal alteration halos which could be related to basement-hosted uranium mineralization.
From July 4 to July 16, 2025, the Company completed a detailed mapping, prospecting, and sampling program to ground-truth historical uranium showings at surface. Collected grab samples have been transported to Saskatchewan Research Council Geoanalytical Laboratories in Saskatoon, SK for geochemical analysis. Results will be released and incorporated into the first NI 43-101 technical report on the Project.
The Company believes the Project is highly prospective for the discovery of shallow, high-grade basement-hosted uranium mineralization akin to the Rabbit Lake deposit and the recently discovered Gemini Mineralized Zone. Located just outside the current margin of the Athabasca Basin, Corvo boasts shallow drill targets with bedrock under minimal cover of glacial till. Several outcrop showings of mineralized veins and fractures are present on the Project, notably the Manhattan Showing that returned historical sample results up to 59,800 ppm U at surface
1
and has never been drill tested.
Figure 2. Summary map showing modern TDEM conductor traces on the Project with Reduced to Pole (RTP) Total Magnetic Intensity (TMI) in the background.
*The Company considers uranium mineralization with concentrations greater than 1.0 wt% U
3
O
8
to be 'high-grade'.
**The Company considers radioactivity readings greater than 300 counts per second (cps) to be 'anomalous'.
Qualified Person Statement
The scientific and technical information contained in this news release has been reviewed, verified, and approved by Sean Hillacre, P.Geo., President and VP Exploration of Standard Uranium and a 'qualified person' as defined in NI 43-101 – Standards of Disclosure in Mineral Projects.
Historical data disclosed in this news release relating to sampling results from previous operators are historical in nature. Neither the Company nor a qualified person has yet verified this data and therefore investors should not place undue reliance on such data. The Company's future exploration work may include verification of the data. The Company considers historical results to be relevant as an exploration guide and to assess the mineralization as well as economic potential of exploration projects. Any historical grab samples disclosed are selected samples and may not represent true underlying mineralization.
References
1
SMDI# 2052:
https://mineraldeposits.saskatchewan.ca/Home/Viewdetails/2052
& Mineral Assessment Report MAW00047: Eagle Plains Resources Inc., 2011-2012
On Behalf of the Board of Directors
Mandeep Parmar
Interim Chief Executive Officer, Director
+1 (604) 229-9772
info@vitalbatterymetals.com
Disclaimer for Forward-Looking Information
This news release includes certain 'Forward-Looking Statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 and 'forward-looking information' under applicable Canadian securities laws. When used in this news release, the words 'anticipate', 'believe', 'estimate', 'expect', 'target', 'plan', 'forecast', 'may', 'would', 'could', 'schedule' and similar words or expressions, identify forward-looking statements or information.
Forward-looking statements and forward-looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Aventis, future growth potential for Aventis and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of uranium, copper, gold and other metals; costs of exploration and development; the estimated costs of development of exploration projects; Aventis' ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
This news release contains 'forward-looking information' within the meaning of the Canadian securities laws. Statements, other than statements of historical fact, may constitute forward looking information and include, without limitation, statements with respect to the Project and its mineralization potential; the Company's objectives, goals, or future plans with respect to the Project; statements with respect to the Program; and the Company's anticipated exploration program at the Project. With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions regarding, among other things, the geological, metallurgical, engineering, financial and economic advice that the Company has received is reliable and are based upon practices and methodologies which are consistent with industry standards. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of well results and the geology, continuity and grade of uranium, copper, gold and other metal deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; increased costs and restrictions on operations due to compliance with environmental and other requirements; increased costs affecting the metals industry and increased competition in the metals industry for properties, qualified personnel, and management. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ca3617b9-5e26-4d70-998e-a4b3382e727c
https://www.globenewswire.com/NewsRoom/AttachmentNg/048fdd92-c27a-48d9-9ffd-4a3bcfa85267
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
7 minutes ago
- CNBC
CNBC's The China Connection newsletter: Beijing wants more babies — are businesses ready for Gen Z parents?
From makers of baby strollers to coding apps, Chinese companies are facing a new kind of customer: the Gen Z parent, with different ideas about raising children and spending on them. China's young parents are digital-natives, have a global outlook and are prefer experiential learning. That mindset is shaping how — and where — they spend. "When you have younger, more digital, international and cosmopolitan parents, their spending patterns are very different [from those of older generations]," said Joe Ngai, chairman of Greater China at McKinsey & Company. Many now prioritize children's experiences, such as golf lessons and ski trips, he added. "We are seeing more spending on the per-kid level, [creating] a more premium market," said Ngai. Businesses catering to enrichment program, extracurriculars and family-centered travel are set to benefit the most, he said. For businesses selling baby formula, cribs, or maternity wear, lower fertility rates have been a drag on growth, still China in 2024 saw nearly three times as many newborns year as the U.S. — a scale that makes its baby-care sector a prize too big to ignore. The baby-care and maternity market was estimated to reach 4.63 trillion yuan (about $645 billion) in 2025, representing around 7% annual growth rate, according to an industry report by iResearch in February. The initial boost from Beijing's stimulus will likely be seen in baby-care and maternity products, before expanding into areas such as pediatric healthcare, early childhood education, insurance products tailored to minors, and technology services designed to support family life. "Think strollers and formula today, but pre-K, private tutoring and family travel tomorrow — all the way to digital learning tools [such as coding apps] and smart parenting apps," said Han Shen Lin, Shanghai-based China Country Director at business consultancy The Asia Group. Parents are also becoming more selective and demanding when it comes to what they buy. Before committing to a product, the younger Chinese parents tend to spend more time comparing options, scrutinizing details and seeking out peer reviews online, said Andy Li, principal at Oliver Wyman in Shanghai. "New parents have become more discerning." That has raised the bar for brands as it's no longer enough to offer quality, companies must also explain why their products stand out. "How to differentiate your proposition, your products against other players in the market has been a major challenge," Li said, noting that giving parents more transparency into what they are buying, especially when it comes to nutrition ingredients, will drive first purchase, ensure retention and brand loyalty. That heightened awareness plays into long-standing concerns over product safety in China — an issue still resonating with Chinese parents nearly two decades after an infant formula scandal in 2008. "For middle-class families still haunted by the 2008 infant formula scandal, many continue to choose foreign brands," said Yaling Jiang, a China-focused independent consumer analyst. In a sign of how quickly public sentiment can shift, driven by the tech-savvy parents, some domestic baby-care brands raised prices days after Beijing rolled out new family subsidies, drawing a swift backlash on social media. The price of one brand of baby wipes jumped from 39 yuan on July 31 to 119 yuan on Aug. 1, according to Manmanmai, an e-commerce price tracker, while a local formula powders' price leapt more than 50% in days. Young parents accused companies of "ripping off the subsidies" before the money has even arrived, with some calling for boycotts. Several brands have since apologized, describing the increases as periodic adjustments. But that backlash highlights a generational shift: Gen-Z parents are value-driven, social media-savvy and quick to call out brands they believe cross the line. In a first for the country, China last month launched a nationwide child-rearing subsidy program, handing out 3,600 yuan ($503) a year for every child under three. It was the first time Beijing extended such subsidy for the firstborn child, with past measures targeting couples with second or third child. The government is betting on the subsidy to reduce the financial strain of parenting and ease what it calls the "fertility anxieties" of young couples. Separately, Beijing on Tuesday announced tuition fees waiver for children in their final year at public preschools and some private kindergartens, starting as soon as the upcoming fall semester. The measures supplement China's efforts to reduce childcare costs at a time when the country is staring at a demographic crisis, fueled by a slide in birth rates. China has seen three consecutive years of population decline, and seven consecutive years of birth rate declines, with a modest rebound in 2024. Muted birth rates also stem from an alarming drop in marriage rates, which fell to the lowest level in almost half a century last year with just 6.1 million new couples. Births dropped to 9.7 million last year — a little over half from the 18.8 million in 2016 when China scrapped its one-child policy that had restricted the size of families — according to Economist Intelligence Unit's estimates based on official data, while the fertility rate is just above 1.0. Fertility rate refers to the average number of children a woman would have in her lifetime. In recent years, China has raised its birth quota to three per couple, introduced tax breaks for childcare and moved to curb after-school tutoring costs. Local officials have tested even bolder incentives, from 10,000 yuan first-baby bonuses in Inner Mongolia to monthly stipends for larger families in Shenyang. But experts say financial incentives alone aren't enough to change minds, particularly among educated women in urban cities, who have continued to face tough choices between career progression, high childcare cost and the burden of eldercare. Millennials and Gen Zs are also part of the so-called "sandwich generation," balancing care for both aging parents and young children. "When you've still got elderly parents to support because there's not a particularly supportive pension system, then a lot of your incomes going up there, rather than, starting your own family," said Harry Murphy Cruise, head of economic research at Oxford Economics. The cost of raising a child until they are 18 relative to per capita GDP is around 6.3 times in China versus 4.11 times in the U.S., according to a population research think tank. Hiring help in tier-1 cities like Shanghai has also been priced out of reach for most dual-income households, said Asia Group's Lin. "For highly-educated, single millennial and Gen Z women who haven't had children, there's a growing awareness of the mental and physical burdens that come with marriage and childbirth," said Jiang. The 3,600 yuan subsidy only covers the cost of about 10 cans (800 to 900 grams each) of infant formula, she pointed out. For now, Beijing's bet is that a little extra cash in parents' pocket — and the spending it triggers — might at least give the country's birth rates a short-term boost, even if it doesn't produce a baby boom. George Chen, partner and co-chair of digital practice at The Asia Group, said that Nvidia CEO Jensen Huang is following Apple CEO Tim Cook's playbook in navigating U.S.-China tensions. Neil Thomas from Asia Society unpacked what matters most to China's President Xi Jinping and why he's seemingly absent on a global stage. Winnie Wu, chief China equity strategist of BofA Securities, explained why she thinks investors shouldn't chase the recent rally in the China markets. China's BYD posted its first decline in monthly deliveries. In July, the leading Chinese EV maker shipped 341,030 units, around 10% lower than 377,628 in June. Domestic competitors Li Auto and Nio also recorded a drop in deliveries. Nvidia denies China's accusation that its chips have a 'kill switch.' The Cyberspace Administration of China said last week that it needed Nvidia to provide documents on what it called vulnerabilities in the firm's H20 AI chip, which is targeted at the Chinese market. Chinese text-to-video AI models are topping scoreboards. TikTok parent ByteDance hold the first and third spots in research firm Artificial Analysis' top-ranked text-to-video generative AI models, while Beijing-based Kuaishou's Kling AI ranks China and Hong Kong stocks inched higher amid mixed trading in the region as investors digested fresh tariff comments from U.S. President Donald Trump. Mainland China's CSI 300 is up 0.18%, while Hong Kong's Hang Seng Index — which includes major Chinese companies — had gained 0.17% as of 12:19 p.m. local time (12:19 a.m. ET). The mainland benchmark is up 4.28% year to date, data from LSEG 7: Trade data for July Aug. 8-12: World Robot Conference 2025 Aug. 9: CPI, WPI for July
Bloomberg
37 minutes ago
- Bloomberg
Glencore Scraps Plans for New York Move in Boost to London
Glencore Plc scrapped plans to move its primary listing away from London after reviewing a potential move to New York. The company also reported a fall in its first-half profits as the commodity giant continues to be weighed down by weak prices for some of its most important products.
Yahoo
an hour ago
- Yahoo
Report for the six-month period ended 30 June 2025
Highlights Proportionate power generation amounted to 439 GWh for the reporting period, and in addition, the Company had 20 GWh of compensated volumes relating to ancillary services and availability warranties, bringing the total proportionate power generation, including these compensated volumes, to 459 GWh. In July 2025, the Company completed the sale of a 76 MW solar project in Germany for a total consideration of MEUR 4.0, with MEUR 2.0 paid at closing and the remaining consideration contingent upon municipal and legislative approvals. Reached the ready-to-permit milestone for a second solar project in Germany of 93 MW, and advanced seven large-scale solar and battery projects in the UK towards final grid confirmation under the ongoing grid reform. Entered into financial hedges covering approximately 40 percent of the second-half 2025 expected proportionate power generation volumes in the SE3 and SE4 price areas at an average price of EUR 52 per MWh. The Company delivered in line with expenditure guidance for the reporting period, with the exception of operating expenses which were impacted by elevated balancing costs during the first half of 2025, resulting in an increase to the Company's full-year operating expenses guidance from MEUR 17 to MEUR 19. Consolidated financials – 6 months Cash flows from operating activities amounted to MEUR -3.8. Proportionate financials - 6 months Achieved electricity price amounted to EUR 36 per MWh, which resulted in a proportionate EBITDA of MEUR -3.9. Proportionate net debt of MEUR 77.3, with significant liquidity headroom available through the MEUR 170 revolving credit facility. Financial SummaryOrrön Energy owns renewables assets directly and through joint ventures and associated companies and is presenting proportionate financials in addition to the consolidated financial reporting under IFRS to show the net ownership and related results of these assets. The purpose of the proportionate reporting is to give an enhanced insight into the Company's operational and financial results. Financial performance Q2 Jan-Jun MEUR 2025 2024 2025 2024 Revenue 4.5 4.7 13.8 17.0 EBITDA - 6.0 4.9 - 6.9 8.0 Operating profit (EBIT) - 10.2 1.1 - 15.4 0.1 Net result - 11.5 7.0 - 15.5 4.4 Earnings per share – EUR - 0.04 0.02 - 0.05 0.02 Earnings per share diluted – EUR - 0.04 0.02 - 0.05 0.02 Alternative performance measures Proportionate financials1 Power generation (GWh) 188 182 439 456 Average price achieved per MWh – EUR 30 31 36 42 Operating expenses per MWh – EUR 28 22 23 18 Revenue 5.7 5.6 15.8 19.1 EBITDA - 4.3 6.7 - 3.9 11.8 Operating profit (EBIT) - 9.3 2.0 - 14.2 2.0 1 Proportionate financials represent Orrön Energy's proportionate ownership (net) of assets and related financial results, including joint ventures. Comment from Daniel Fitzgerald, CEO of Orrön Energy'During the second quarter, we continued to focus on optimising our operational assets aiming to mitigate the effects of market volatility and increased balancing costs, while advancing our project development pipeline in Germany and the UK. The Nordic electricity market remained challenging during the first half of 2025, with continued low electricity pricing and high balancing costs impacting the Company's financial results. The costs related to balancing the power system have been higher than normal in 2025, largely driven by structural market reforms and increasing power generation intermittency coupled with continued low demand and we cover the background to balancing and ancillary services in the operational section of this report. As a result, we need to raise our full-year guidance for operating costs from MEUR 17 to MEUR 19. However, we are also seeing increased revenues from ancillary services, which we expect will continue to grow and help offset this increase. The largest impact from higher balancing costs has been in Finland. To mitigate this at our MLK windfarm, we commissioned an automated solution in July designed to reduce our exposure to balancing risks and costs. Early in the third quarter we entered into financial hedges for around 40 percent of our expected proportionate power generation volumes in the SE3 and SE4 price areas for the second-half of 2025 at an average price of EUR 52 per MWh, which gives more certainty against market volatility like we have seen in previous quarters. We also have several battery projects underway, which should improve our flexibility and further strengthen our resilience in the current market environment. Our proportionate power generation in the reporting period amounted to 439 GWh, and in addition we received compensation for 20 GWh related to ancillary services and availability warranties. Notwithstanding this, our forecast production for 2025 is expected to be at the lower end of our outlook range, primarily due to weather conditions and curtailments during low-price periods. I am really pleased to share that we closed the sale of a 76 MW solar project at the end of July, our first sale in Germany, which marks a key milestone for this business. The total consideration for the sale is MEUR 4.0, comprising of MEUR 2.0, which was paid at closing, and a remaining consideration of MEUR 2.0, which is contingent upon municipal and legislative approvals, which we hope to see concluded in 2026. The sale represents a good return on invested capital, and we will see the impact from that reflected in our third quarter results. This transaction marks the first monetisation from our greenfield platform and demonstrates our ability to unlock value early in the development cycle. I expect this to be the first in a series of project sales, as we continue to develop and mature our greenfield pipeline. We also made progress across the wider greenfield portfolio, where we reached the ready-to-permit milestone for a 93 MW solar project in Germany, which is expected to enter a sales process shortly. In the UK, we are advancing seven large-scale solar and battery projects toward final grid confirmation under the ongoing reform, with feedback expected in the second half of this year. Financially strong during challenging marketsWe remain in a strong financial position, with more than MEUR 90 of liquidity headroom, and have the ability to manage the pace of our investments as markets evolve. However, market conditions and increased balancing costs negatively impacted our financial performance during the quarter. Proportionate revenues and other income for the quarter amounted to MEUR 6.0, and proportionate EBITDA for the quarter was MEUR -4.3. I am encouraged to see the positive results from the ancillary services implemented at MLK, which has contributed additional revenues during the reporting period and is a key part of our strategy to improve flexibility and optimise production and revenues on our assets. Entering a new phase We are now three years into our journey as a renewable energy company, and with the completion of our first project sale in Germany, alongside several additional projects we plan to bring to market soon, we are entering a new phase which will further diversify and strengthen our revenue streams. Supported by a robust pipeline of greenfield projects, strong technical performance across our operational assets and a dedicated team, I am confident that we are well positioned to create sustainable, long-term value for our shareholders. I would like to once again thank our shareholders for your continued support, and look forward to providing further updates during 2025.' WebcastListen to Daniel Fitzgerald, CEO and Espen Hennie, CFO commenting on the report and presenting the latest developments in Orrön Energy and its future growth strategy at a webcast today at 14.00 CEST. The presentation will be followed by a question-and-answer session. Follow the presentation live on the below webcast link: For further information, please contact: Robert ErikssonCorporate Affairs and Investor RelationsTel: +46 701 11 26 Jenny Sandström Communications LeadTel: +41 79 431 63 This information is information that Orrön Energy AB is required to make public pursuant to the Swedish Securities Markets Act. The information was submitted for publication, through the contact persons set out above, at 07.30 CEST on 6 August 2025. Orrön Energy is an independent, publicly listed (Nasdaq Stockholm: 'ORRON') renewable energy company within the Lundin Group of Companies. Orrön Energy's core portfolio consists of high quality, cash flow generating assets in the Nordics, coupled with greenfield growth opportunities in the Nordics, the UK, Germany, and France. With financial capacity to fund further growth and acquisitions, and backed by a major shareholder, management and Board with a proven track record of investing into, leading and growing highly successful businesses, Orrön Energy is in a unique position to create shareholder value through the energy transition. Forward-looking statements Statements in this press release relating to any future status or circumstances, including statements regarding future performance, growth and other trend projections, are forward-looking statements. These statements may generally, but not always, be identified by the use of words such as 'anticipate', 'believe', 'expect', 'intend', 'plan', 'seek', 'will', 'would' or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that could occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to several factors, many of which are outside the company's control. Any forward-looking statements in this press release speak only as of the date on which the statements are made and the company has no obligation (and undertakes no obligation) to update or revise any of them, whether as a result of new information, future events or otherwise. Attachment Orrön Energy Q2 Report 2025 English
