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Cision Canada
a day ago
- Business
- Cision Canada
PLS PROJECT WINTER DRILLING DELIVERS POSITIVE RESULTS AT SALOON EAST
PERTH, Australia, June 2, 2025 /CNW/ - Paladin Energy Ltd (ASX: PDN) (TSX: PDN) (OTCQX: PALAF) (" Paladin" or the " Company") is pleased to advise it has successfully completed a winter exploration program at the Patterson Lake South (PLS) high-grade uranium project in the Athabasca Basin region of Saskatchewan, Canada. The winter program was carried out in line with the Company's strategic objective to identify additional uranium mineralization outside of the Triple R deposit within the largely underexplored 31,039-hectare PLS project. View PDF The results represent the strongest radioactivity identified outside of the Triple R Deposit at PLS. Twenty drillholes totalling 7,102.9m were completed between February and May 2025, with eleven drillholes targeting the Saloon East area, 3.5km southeast of the Triple R deposit (Figure 1 and Table 1). All eleven drillholes at Saloon East intersected highly elevated radioactivity in multiple zones and over significant widths with downhole gamma probe peaks up to 51,303 counts per second (cps). Radioactivity across the Saloon East area has been defined by drilling in two areas separated by 550m (Figure 2), between 200m and 420m vertically from surface within a consistent package of steeply southeast dipping, hydrothermally altered and structurally deformed basement rocks. Drilling Highlights Paladin CEO, Ian Purdy said: "Our Canadian team are very encouraged by the initial results we are seeing at Saloon East. The drilling results at Saloon East represent the strongest radioactivity intersected on the PLS property to date outside of the Triple R deposit. All eleven Saloon East drillholes completed to date in 2025 intersected radioactivity and have provided exciting results over significant core lengths. The widespread presence of elevated radioactivity and hydrothermal alteration suggests that we are exploring a significant mineralised system." Overview of the Saloon Trend The Saloon Trend is a linear, multi-kilometre long, southwest-northeast trending structural zone up to 1km in width, that is parallel to and located 3.5km south of the shear zones that host the Triple R deposit within the Patterson Lake Conductive Corridor. The Saloon Trend has been a major focus of the 2024 and 2025 exploration drilling, with 27 drillholes completed along 8.8km of its strike length. Drilling in August 2024 in the eastern portion of the Saloon Trend intersected anomalous radioactivity in three drillholes, PLS24-680, 682 and 684B, in what was subsequently termed Saloon East. Drilling in the first half of 2025 followed up on the August 2024 results at Saloon East and intersected highly elevated radioactivity, with notable intercepts in drillholes PLS25-696 and 698. Drilling along trend to the northeast intersected a thick zone of elevated radioactivity in PLS25-693, leaving a highly prospective 550m long untested zone between the two established zones of radioactivity. Table 1: 2025 Regional Exploration Drill Hole Summary Collar Basement depth (m) Total depth (m) 2PGA-1000 Gamma probe (≥500 cps / ≥0.5 m minimum) Exploration Area Hole ID Easting (UTM NAD83) Northing (UTM NAD83) Elevation (masl) Azimuth (deg) Dip (deg) From To Interval Average cps Max cps Saloon East PLS25-685 601774.8 6388784.0 498.3 128 -70 44.4 558.0 263.6 272.1 8.5 694 2,009 279.2 289.2 10.0 2,576 14,772 291.7 294.0 2.3 1,140 2,916 299.7 303.2 3.5 641 1,715 319.1 324.5 5.4 1,177 3,346 333.4 333.9 0.5 578 672 342.9 343.7 0.8 1,406 2,422 387.8 390.5 2.7 2,641 7,413 394.2 396.7 2.5 2,566 10,010 428.5 429.1 0.6 3,713 6,165 PLS25-688A 601789.1 6388769.2 498.0 129 -71 51.0 552.0 108.7 109.8 1.1 589 800 204.6 205.1 0.5 598 687 210.2 215.4 5.2 1,115 3,962 223.1 223.8 0.7 576 637 225.8 236.1 10.3 2,474 11,660 289.7 290.8 1.1 1,377 2,152 312.0 312.5 0.5 1,402 2,002 365.4 365.9 0.5 1,151 1,665 370.4 371.7 1.3 6,133 14,862 416.3 419.8 3.5 4,030 11,964 424.0 426.5 2.5 3,443 11,280 433.2 445.5 12.3 3,582 13,657 497.0 498.7 1.7 773 1,046 PLS25-690 602270.6 6389053.9 498.2 321 -75 51.0 387.0 243.0 246.0 3.0 533 1,092 283.6 290.3 6.7 764 2,122 295.8 297.5 1.7 1,403 2,250 PLS25-691 601800.2 6388759.9 498.2 129 -71 50.6 492.1 180.9 184.3 3.4 682 919 227.3 227.9 0.6 778 961 251.4 254.7 3.3 531 802 268.1 272.0 3.9 960 1,951 418.3 424.8 6.5 627 1,847 427.8 431.2 3.4 1,057 2,625 443.0 443.8 0.8 536 647 PLS25-692 602270.4 6389065.4 498.0 305 -73 53.5 330.0 190.8 192.0 1.2 669 793 195.6 199.1 3.5 639 2,849 202.7 212.4 9.7 1,314 5,423 234.0 234.8 0.8 612 803 249.7 252.3 2.6 623 944 256.8 267.5 10.7 1,172 4,988 273.5 277.9 4.4 1,650 4,837 317.0 317.6 0.6 1,360 2,015 PLS25-693 602270.4 6389065.4 498.0 310 -68 60.8 318.0 164.8 166.4 1.6 515 726 180.1 181.1 1.0 782 1,271 204.1 210.1 6.0 923 3,976 213.4 217.9 4.5 634 1,908 220.5 257.7 37.2 4,761 34,636 294.4 295.1 0.7 809 1,373 PLS25-694A 601841.6 6388784.0 498.0 129 -75 46.8 348.0 185.7 190.1 4.4 1,418 3,856 195.9 196.4 0.5 867 1,208 198.5 205.5 7.0 1,548 3,010 222.0 223.3 1.3 831 1,190 226.7 228.1 1.4 1,209 1,752 241.6 246.5 4.9 1,079 1,913 250.5 251.2 0.7 824 1,179 264.0 273.7 9.7 928 2,466 288.4 294.1 5.7 871 1,783 PLS25-695 602270.4 6389065.4 498.0 305 -60 56.4 213.0 Drillhole lost, not gamma probed PLS25-696 601895.9 6388750.8 498.3 335 -80 64.9 351.0 161.5 164.8 3.3 652 1,185 185.3 218.3 33.0 1,101 6,723 222.9 224.3 1.4 703 896 227.6 232.3 4.7 738 2,057 241.9 253.4 11.5 8,957 51,303 258.8 260.9 2.1 1,750 4,473 306.5 307.2 0.7 662 943 PLS25-697 602252.2 6389079.1 498.2 304 -66.25 74.4 250.1 120.5 125.8 5.3 563 1,099 138.6 139.5 0.9 604 798 141.0 141.5 0.5 675 793 152.4 161.5 9.1 611 1,960 172.7 173.6 0.9 618 677 177.1 178.1 1.0 608 679 184.2 188.8 4.6 1,377 4,104 193.9 195.7 1.8 925 1,446 PLS25-698 602019.0 6388634.2 510.7 316 -49 92.5 357.0 134.9 135.5 0.6 717 763 259.2 265.7 6.5 1,513 4,702 276.2 281.8 5.6 954 2,999 291.6 304.1 12.5 4,198 27,730 Saloon PLS25-700A 602083.8 6388022.1 527.1 313 -77 83.6 537.0 183.8 187.9 4.1 554 1,258 436.6 437.3 0.7 806 1,107 446.7 447.3 0.6 947 1,232 PLS25-703 598710.0 6386314.0 565.0 320 -75 126.0 198.3 Drillhole lost South Patterson PLS25-686A 599131.0 6388680.0 498.1 0 -90 51.0 201.0 129.0 131.0 2.0 624 1,038 134.5 135.5 1.0 568 721 142.7 147.3 4.6 536 821 149.3 152.1 2.8 589 1,145 163.9 164.6 0.7 545 643 174.3 179.1 4.8 692 1,041 181.3 182.8 1.5 666 848 Far East PLS25-687 600112.8 6390497.2 498.3 348 -70 47.8 204.4 No anomalous radioactivity PLS25-689 600359.3 6390575.5 501.9 158 -79 54.2 372.0 No anomalous radioactivity PLG Main PLS25-699 597359.7 6389781.8 536.4 157 -77 95.7 558.0 120.9 124.1 3.2 633 856 128.5 130.5 2.0 501 581 132.6 134.8 2.2 778 1,196 PLS25-701 596345.0 6389136.0 548.3 347 -77 111.0 270.0 104.4 124.5 20.1 1,796 4,076 PLS25-702 596058.2 6389209.5 554.4 155 -60 143.4 288.0 No anomalous radioactivity PLS25-704 596189.5 6389089.4 552.1 335 -78 110.3 318.0 105.0 137.6 32.6 2,117 5,133 138.3 141.2 2.9 634 866 142.8 152.4 9.6 1,036 6,415 170.8 171.4 0.6 795 980 173.0 174.8 1.8 828 1,476 177.8 183.8 6.0 589 1,505 Competent Person's Statement / Qualified Person and Technical Information The drilling and exploration results contained in this document have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The information in this document as it relates to drilling and exploration results was provided by Kanan Sarioglu, a Competent Person and "qualified person" under NI 43-101, who is a registered Professional Geoscientist ( with the Engineers and Geoscientists of British Columbia (EGBC), the Association of Professional Geoscientists and Engineers of Alberta (APEGA) and the Association of Professional Geoscientists and Engineers of Saskatchewan (APEGS). Kanan Sarioglu is the VP Exploration for Paladin Canada and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Sarioglu consents to the inclusion in this document of the matters based on the information in the form and context in which it appears. The drilling and exploration results including verification of the data disclosed, has been completed by Kanan Sarioglu following NI 43-101. Mr. Sarioglu has reviewed and approved the contents of this news release. The design of the drilling programs and interpretation of results is under the control of Paladin Canada's geological staff, including qualified persons employing strict protocols consistent with NI 43-101 and industry best practices. Natural gamma radiation that is reported in this news release was measured in counts per second every 10cm throughout the length of each drillhole, in the up and down direction, using a Mount Sopris 2PGA-1000 single gamma probe. Results presented were derived from the up-hole data only. Prior to drilling, the accuracy of the 2PGA-1000 gamma probe was confirmed using a historical calibration drillhole on the PLS property. The reader is cautioned that gamma probe readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication of the presence of radioactive materials. All intersections are down-hole depths. All depths reported of core interval measurements including radioactivity and mineralization intervals widths are not always representative of true thickness. Forward-looking statements This announcement includes forward-looking information (forward-looking statements) that can generally be identified by words such as "anticipate", "expect", "likely", "propose", will", "intend", "should", "could", "may", "believe", "forecast", "estimate", "target", "outlook", "guidance" and similar expressions. Forward-looking statements involve subjective judgment and are subject to significant uncertainties and contingencies (including risk factors associated with the mining industry), many of which are outside the control of the Company. Although at the date of this announcement Paladin believes the forward-looking statements contained herein are based on reasonable assumptions, such statements are not guarantees of future performance. Actual results or developments may differ materially from the Company's expectations due to a range of factors including fluctuations in commodity prices and exchange rates, exploitation and exploration successes, permitting and development issues, political risks, First Nation engagement, climate risk, natural disasters, regulatory concerns, continued availability of capital and financing, general economic and market conditions, general uranium industry factors, and other factors. The Company makes no representation, warranty, guarantee or assurance (express or implied) that any forward-looking statements will prove to be correct. Except for statutory liability, which cannot be excluded, the Company, its officers, employees and advisers expressly disclaim any responsibility for the accuracy or completeness of the material contained in this announcement and exclude all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this announcement or any error or omission therefrom. The Company accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in this announcement or any other information made available to a person nor any obligation to furnish the person with any further information. JORC Code, 2012 Edition – Table 1 (Criteria in this section apply to all succeeding sections.) Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.) Criteria JORC Code explanation Commentary Mineral tenement and land tenure status Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. Drilling presented in this release was completed on mineral claim S-111376 which is 100% owned by Fission Uranium Corp a subsidiary of Paladin Energy Ltd. All claims are in good standing and all necessary permits for drilling and geophysical surveys have been received Exploration done by other parties Acknowledgment and appraisal of exploration by other parties. The PLS project has been explored by a number of historical exploration companies including Uranerz Exploration and Mining Ltd., Hudson Bay Exploration and Development and Canadian Occidental Petroleum Ltd. There are historical drillholes on the property, none of which have tested the areas presented in this announcement Geology Deposit type, geological setting and style of mineralisation. The target deposit type is unconformity-associated high-grade uranium, hosted at the base of the Athabasca Basin or underlying metamorphic basement rocks Drill hole Information A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: easting and northing of the drill hole collar elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar dip and azimuth of the hole down hole length and interception depth hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. This information is included in Table 1 of the announcement No material information has been excluded Data aggregation methods In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly stated. Radioactivity measurements are recorded every 10 cm throughout the drillhole length, no weighting is applied Relationship between mineralisation widths and intercept lengths These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known'). All intervals are down hole lengths Due to the early-stage nature of these results, true widths are not known at this time Diagrams Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. Refer to the figures in the announcement Balanced reporting Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. All relevant exploration data has been reported Other substantive exploration data Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. All relevant exploration data has been reported SOURCE Paladin Energy Ltd
Cision Canada
6 days ago
- Business
- Cision Canada
GoldMining Updates NI 43-101 Technical Report for the Rea Uranium Project; A Large, Drill Permitted Claim Package in the Western Athabasca Basin, Canada
The Rea Project is owned 75% by the Company and 25% by Orano Canada Inc. (" Orano") (for location see Figure 1). The Company's proposed metallic minerals exploration application for the Project has been reviewed by the Alberta Energy Regulator and authorized as an approved exploration program (see May 1, 2025 news release). The large land package of approximately 125,328 hectares surrounds Oranoꞌs high-grade Dragon Lake prospect at its Maybelle River project. Recently discovered uranium deposits located 60 km to the southeast of the Rea Project include Paladin Energy Limited's (" Paladin") Triple R deposit and NexGen Energy Inc.'s (" NexGen") Arrow deposit, which are currently in development. The qualified person has been unable to verify the adjacent-property information, and therefore, the information is not necessarily indicative of the mineralization that is the subject of the Technical Report. Highlights: The Rea Uranium Project was acquired by GoldMining as part of its acquisition of Brazilian gold properties in 2013. The Company plans to continue to advance the Project given the increasing importance of uranium in the energy sector. Uranium is expected to play a lead role in the growing demand for cleaner energy sources of electricity. The Athabasca Basin is home to some of the world's richest uranium mines and highest-grade uranium deposits and is currently estimated to contribute approximately 15% of the annual world-wide uranium production. The Rea Project surrounds Orano's Maybelle River project that hosts shallow (<200 metres below surface) uranium mineralization at the Dragon Lake deposit. The geological structure hosting Dragon Lake (the Maybelle River Corridor – see Figure 2) is projected to extend over an additional 11 kilometres of strike across the northern Rea Project. Apart from the adjacent Maybelle River project, the western Alberta portion of the basin has, by comparison, had minimal exploration to date. The Project is in a relatively underexplored area that has seen renewed exploration activity as a result of recent near surface, basement hosted, high-grade uranium discoveries by NexGen and Paladin in the nearby Patterson Lake area (see Figure 1). GoldMining has identified 70 kilometres of prospective trends in three distinct corridors for future exploration: Maybelle River, Net Lake, and Keane Lake. The Company's proposed uranium exploration program at the Rea Project has been approved to proceed by the Alberta Energy Regulator. Alastair Still, CEO of the Company, stated: "We are pleased to announce the updated Technical Report for our prospective Rea Uranium Project which is another important step to advancing to exploration at the Project and is consistent with our broader strategy of seeking to unlock further value for our shareholders across our asset portfolio. As the importance of uranium grows as a fuel for increasing clean energy demands, we continue to work with local stakeholders to develop a sustainable phased approach to exploration and we remain excited about the potential to daylight value from this asset for our shareholders." Rea Uranium Project The Project is located on the western edge of the Athabasca Basin in northeastern Alberta, about 45 kilometres west-southwest of Cluff Lake and approximately 185 kilometres north-northwest of Fort McMurray. The Rea Project consists of 16 Alberta Rock-Hosted Mineral Permits (permits), totaling 125,328 hectares. Access to the Rea Project is by helicopter or fixed-wing aircraft year-round or winter road that connects Fort McKay with Fort Chipewyan from January to March of each year depending on winter conditions. There are some access roads on the Project that can be used for all-terrain vehicles. The largest nearby town of Fort McMurray services mineral exploration and mining in the district. The rocks underlying the western part of the Athabasca Basin comprise complexly deformed and strongly metamorphosed Archean to Paleoproterozoic crystalline basement rocks of the Lloyd Domain (Careen Lake Group) of the Rae geological province. The basement rocks comprise a dominantly supracrustal package of psammo-pelitic gneiss, psammitic gneiss, pelitic gneiss, and garnet diatexite with subordinate metaquartzite, amphibolite, and ultramafic rock that are currently assigned to the Careen Lake Group. The supracrustral rocks were later intruded by significant amounts of granodiorite, quartz diorite, monzodiorite, and minor gabbro that, collectively, are termed the 'quartz diorite suite'. In 2005, the Rea Project land package surrounding the Maybelle River project was acquired by BGC, which was subsequently acquired by GoldMining in 2013. With respect to mineralization, several targeted corridors for future exploration have been delineated by GoldMining based on historical geophysical conductors, surficial geochemical anomalies, and drillholes that encountered subsurface zones with uranium. In the southwest part of the Rea Project, the Net Lake corridor comprises a prospective sandstone unit within which historic drilling yielded uranium concentrations of up to 48 ppm total uranium ("U"), as well as trace amounts of graphite in the basement rock. In the north portion of the Project historic drilling along the extension of the Maybelle River corridor yielded 87 ppm total U over 1 metre. Additionally, drill core along the Maybelle River corridor intersected clay alteration, breccia zones and dravite, which represent features associated with unconformity uranium deposits elsewhere in the Athabasca Basin. GoldMining commissioned Fathom Geophysics to reprocess and interpret historical airborne geophysical data. As a result of the work, over 70 kilometres of prospective trends were identified in three distinct corridors for future exploration: Maybelle River, Net Lake, and Keane Lake. These corridors exhibit geophysical signatures that are interpreted as graphite-bearing shear zones with potential to host unconformity-style uranium mineralization (see Figure 2). For further information on the Rea Project please refer to the Technical Report, a copy of which is available under the Company's profile at Qualified Persons The Technical Report was prepared by Roy Eccles, P. Geol., of APEX Geoscience Ltd., who is independent of GoldMining, the Rea Project, and is a qualified person as defined by Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects (" NI 43-101"). Mr. Eccles has reviewed, verified and approved the technical information related to the Technical Report in this news release. Tim Smith, P. Geo., Vice President Exploration of GoldMining, has supervised the preparation of and approved the scientific and technical information contained herein. Mr. Smith is a qualified person as defined in NI 43-101. About GoldMining Inc. The Company is a public mineral exploration company focused on the acquisition and development of gold assets in the Americas. Through its disciplined acquisition strategy, the Company now controls a diversified portfolio of resource-stage gold and gold-copper projects in Canada, U.S.A., Brazil, Colombia, and Peru. The Company also owns 21.5 million shares of Gold Royalty Corp. (NYSE American: GROY), 9.9 million shares of U.S. GoldMining Inc. (Nasdaq: USGO), and over 26 million shares of NevGold Corp. (TSXV: NAU). See for additional information. Notice to Readers Technical disclosure regarding the Project has been prepared by the Company in accordance with NI 43-101. NI 43-101 is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the U.S. Securities and Exchange Commission ("SEC") and the scientific and technical information contained in this news release may not be comparable to similar information disclosed by domestic United States companies subject to the SEC's reporting and disclosure requirements. Cautionary Statement on Forward-looking Statements Certain of the information contained in this news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws ("forward-looking statements"), which involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to, statements respecting the Company's expectations regarding the Project, planned work at the Project and expectations regarding demand for uranium and often contain words such as "anticipate", "intend", "plan", "will", "would", estimate", "expect", "believe", "potential" and variations of such terms. Such forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which GoldMining operates, which may prove to be incorrect. Investors are cautioned that forward-looking statements involve risks and uncertainties, including, without limitation: the inherent risks involved in the exploration and development of mineral properties, fluctuating metal prices, unanticipated costs and expenses, risks related to government and environmental regulation, social, permitting and licensing matters, any inability to complete work programs as expected, the Company's plans with respect to the Project may change as a result of further planning or otherwise, and uncertainties relating to the availability and costs of financing needed in the future. These risks, as well as others, including those set forth in GoldMiningꞌs most recent Annual Information Form and other filings with Canadian securities regulators and the SEC, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that forward-looking statements, or the material factors or assumptions used to develop such forward-looking statements, will prove to be accurate. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities law.
Cision Canada
01-05-2025
- Business
- Cision Canada
GoldMining Inc. Advances Rea Uranium Project With Exploration Drilling Approval, Alberta, Canada
VANCOUVER, BC, May 1, 2025 /CNW/ - GoldMining Inc. (the " Company" or " GoldMining") (TSX: GOLD) (NYSE American: GLDG) is pleased to report that its proposed metallic minerals exploration application for the Rea Uranium Project (" Rea Project") located in the Western Athabasca Basin, has been reviewed and authorized as an approved exploration program by the Alberta Energy Regulator. The Rea Project is owned 75% by the Company and 25% by Orano Canada Inc. (" Orano") (for location see Figure 1). The large land package of approximately 125,328 hectares surrounds Oranoꞌs high-grade Dragon Lake prospect at its Maybelle River project. World-class uranium deposits located 60 km to the southeast of the Rea Project include Paladin Energy Limited's Triple R deposit and NexGen Energy Inc.'s Arrow deposit, which are currently in development. Highlights: GoldMining's proposed uranium exploration program at the Rea Project has been approved to proceed by the Alberta Energy Regulator. The proposed exploration program includes diamond core drilling comprised of up to 15 drillholes. Drilling could potentially be completed by either a small portable tracked or skid-mounted drill rig for a ground-based program, or by a helicopter-portable rig. The proposed drillholes are anticipated to reach a maximum 500 metres depth for an approximate total drilling program of up to 7,500 metres. GoldMining has received a consultation adequacy decision from the Aboriginal Consultation Office of Alberta for the proposed exploration program. Although this decision on adequacy has been received, the Company is committed to further engagement and dialogue. Alastair Still, Chief Executive Officer of GoldMining, commented:"The receipt of this approval to advance exploration at our prospective Rea uranium project is an important milestone and consistent with our strategy of seeking to unlock further value for our shareholders. Earlier work by our team highlighted the areas for follow-up exploration, outlined within three distinct corridors totaling over 70 km and each containing several individual drill targets exhibiting geophysical signatures consistent with known Athabasca Basin uranium deposits. We are extremely encouraged by the targets we have generated within the Athabasca Basin, an area that contains some of the world's largest and highest-grade uranium deposits. From the early project planning stages, GoldMining has taken a proactive approach to Indigenous consultation and relationship building, and the Company is committed to further engagement and dialogue as we advance our exploration plans." Rea Uranium Project The Rea Project consists of 16 contiguous exploration permits covering approximately 125,328 hectares surrounding Oranoꞌs Maybelle River project, which hosts the relatively shallow, Dragon Lake prospect. The Rea Project is located approximately 175 km north-northeast of Fort McMurray, Alberta, which is serviced daily by commercial flights from Edmonton and Calgary. Access to the Project is by winter roads connecting Fort McKay and Fort Chipewyan, or by air charter flight. Historic exploration programs were completed by Eldorado Nuclear Ltd. and Uranerz Exploration and Mining Limited ("Uranerz") from the mid-1970ꞌs to the late 1990ꞌs on ground now mostly covered by the Rea Project. The programs included various geochemical surveys, boulder prospecting, airborne and ground geophysics and diamond core drilling (137 drill holes totaling 28,751 metres). These programs led to the discovery of the Dragon Lake prospect in 1988 where Uranerz reported high-grade drill intersections including 17.7% U 3 O 8 over 5.0 metres in MR-39 and 4.7% U 3 O 8 over 1.7 metres in MR-34. Since that time, Orano has maintained a narrow zone of mineral leases, the 'Maybelle River' project, that covers the north to northwest trending electromagnetic ("EM") conductor that is directly associated with the Dragon Lake prospect. In 2005 a large land package of mineral permits surrounding the entire Maybelle River project was staked by Brazilian Gold Corporation ("BGC") (formerly Red Dragon Resources Corp.), which became the 'Rea Project'. From 2005 to 2009 Orano (formerly Uramin Inc. and Areva Resources Canada Inc.) earned a 25% interest in the Rea Project under the terms of an option agreement. BGC, which retained 75% of the Rea Project, was subsequently acquired by Brazil Resources Inc. in 2013, which was then renamed GoldMining Inc. in 2016. Reinterpretation of historic geophysical surveys, in addition to reprocessing and inversion modelling, has identified over 70 linear kilometres of basement conductive trends within the Company's Rea Project permits. The linear conductive trends are interpreted as geological basement-hosted graphite-bearing shear zones which are the primary structures that localize unconformity-style uranium mineralization in the overlying Athabasca Basin sediments. The total of 70 linear kilometres of prospective trend occurs across three distinct northwest trending corridors (see news releases dated June 13, 2024): The Maybelle River Corridor (11 km) trends northward from Orano's Maybelle River Project, which hosts shallow high-grade uranium mineralization at the Dragon Lake prospect. Five historic drill holes tested a portion of the Maybelle River Corridor on the Company's Rea Project claims, intersecting anomalous uranium values in two holes. The remaining three drill holes intersected anomalous pathfinder elements and minerals, including clay alteration and dravite, a distinctive accessory mineral associated with many major Athabasca uranium occurrences. The Net Lake Corridor (20 km) has seen only wide spaced drilling (comprising 20 historic holes), with five holes intersecting anomalous uranium values and associated pathfinder elements and minerals. The Keane Lake Corridor (40 km) is largely untested except for two historic drill holes that intersected anomalous uranium values in the south-central area of the Rea Project. Each of the three prospective corridors are interpreted as potentially significant and deeply rooted basement structures, which are known to be fundamental to the formation of Athabasca uranium deposits. Drill-proven fault and shear zones have been intersected in historical drilling on both the Maybelle River and Net Lake corridors. The Company's proposed exploration programs will include additional geophysical surveying and processing to refine uranium targets in advance of the proposed drilling program. For details on the Rea Project please see "Technical Report on the Rea Property. Northeastern Alberta, Canada", dated effective September 12, 2014 (the "Rea Report"), available under the Company's profile at Qualified Person Tim Smith, P. Geo., Vice President Exploration of GoldMining, has supervised the preparation of, and verified and approved, all other scientific and technical information herein this news release. Mr. Smith is also a qualified person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (" NI 43-101"). About GoldMining Inc. GoldMining Inc. is a public mineral exploration company focused on acquiring and developing gold assets in the Americas. Through its disciplined acquisition strategy, GoldMining now controls a diversified portfolio of resource-stage gold and gold-copper projects in Canada, the U.S.A., Brazil, Colombia, and Peru. The Company also owns approximately 21.5 million shares of Gold Royalty Corp. (NYSE American: GROY), 9.9 million shares of U.S. GoldMining Inc. (Nasdaq: USGO) and 26.3 million shares of NevGold Corp. (TSXV: NAU). See for additional information. Notice to Readers Technical disclosure regarding the Project has been prepared by the Company in accordance with NI 43-101. NI 43-101 is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the U.S. Securities and Exchange Commission ("SEC") and the scientific and technical information contained in this news release may not be comparable to similar information disclosed by domestic United States companies subject to the SEC's reporting and disclosure requirements. Cautionary Statement on Forward-looking Statements Certain of the information contained in this news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws ("forward-looking statements"), which involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to, statements respecting the Company's expectations regarding the Project and expected work programs and often contain words such as "anticipate", "intend", "plan", "will", "would", estimate", "expect", "believe", "potential" and variations of such terms. Such forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which GoldMining operates, which may prove to be incorrect. Investors are cautioned that forward-looking statements involve risks and uncertainties, including, without limitation: the inherent risks involved in the exploration and development of mineral properties, fluctuating metal prices, unanticipated costs and expenses, risks related to government and environmental regulation, social, permitting and licensing matters, any inability to complete work programs as expected, the Company's plans with respect to the Project may change as a result of further planning or otherwise, and uncertainties relating to the availability and costs of financing needed in the future. These risks, as well as others, including those set forth in GoldMiningꞌs most recent Annual Information Form and other filings with Canadian securities regulators and the SEC, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that forward-looking statements, or the material factors or assumptions used to develop such forward-looking statements, will prove to be accurate. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities law. SOURCE GoldMining Inc.
Yahoo
24-03-2025
- Business
- Yahoo
F4 Uranium Shares Now Listed on TSXV
Kelowna, British Columbia--(Newsfile Corp. - March 24, 2025) - F4 Uranium Corp ("F4 Uranium" or the "Company") is pleased to announce that the F4 shares have been approved for listing on TSXV, under the symbol FFU. Shares will commence trading on Tuesday March 25, 2025. About F4 Uranium Corp: F4 is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of the world's largest high grade uranium discoveries. F4 currently has 16 projects in the Athabasca Basin, several of which are near large uranium discoveries including Triple R, Arrow and Hurricane. F4 has entered into option agreements on some of its properties which call for the applicable optionors to make cash payments and issue shares to F4, as well as to incur exploration expenditures on the properties in which they have been granted the option to earn an interest. Looking Forward"F4 Uranium is committed to achieving its vision of becoming a leader in the uranium exploration industry," said Raymond Ashley, CEO & Director. "F4 stands apart with its successful leadership and technical team responsible for 3 major uranium discoveries along with a strong portfolio of properties in the Athabasca Basin. With a hybrid strategy of adding value through prospect generation by advancing some of its properties through joint venture partnerships and sole funding on others, and the ongoing support of our stakeholders, we are well-positioned for success as we look forward to our listing on the TSXV." Contact Information F4 Uranium Corp.750-1620 Dickson AvenueKelowna, BC V1Y9Y2 Investor RelationsTelephone: 778 484 8030Email: ir@ On Behalf of the Board. "Ray Ashley"Raymond Ashley, CEOF4 Uranium Corp. Forward-Looking Statements This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward-looking statements include, but are not limited to: the expected offering size and closing of the Private Placement; the net proceeds from the Private Placement and the intended use of proceeds therefrom; the application to list F4's shares on the TSX Venture Exchange; and the timing of filing and submission thereof. Such forward-looking statements or information are based on a number of assumptions which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; timing and amount of exploration expenditures; and effects of regulation by governmental agencies. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors including: the availability of funds; the timing and content of work programs; results of exploration activities of mineral properties; the interpretation of drilling results and other geological data; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law. To view the source version of this press release, please visit Sign in to access your portfolio
Globe and Mail
18-02-2025
- Business
- Globe and Mail
F3 Uranium to Present at the Red Cloud Uranium Webinar on February 25
Kelowna, British Columbia--(Newsfile Corp. - February 18, 2025) - F3 Uranium Corp. (TSXV: FUU) (OTCQB: FUUFF) (FSE: GL7) ("F3" or "the Company") is pleased to announce that Mr. Dev Randhawa, Chairman & CEO, and Mr. Raymond Ashley, President, will be presenting at the Red Cloud Uranium Webinar on February 25th at 2:00 PM EST. F3 will provide insights into the advancement of its flagship high-grade Patterson Lake North (PLN) Uranium Project in the Athabasca Basin. The company invites individual and institutional investors, as well as advisors and analysts, to attend. About F3 Uranium Corp. F3 Uranium is a uranium exploration company, focusing on the recently discovered high-grade JR Zone on its Patterson Lake North (PLN) Project in the Western Athabasca Basin. F3 Uranium currently has 3 properties in the Athabasca Basin: Patterson Lake North, Minto, and Broach. The western side of the Athabasca Basin, Saskatchewan, is home to some of the world's largest high grade uranium deposits including Triple R and Arrow and poised to become the next major area of high-grade uranium operations in the world. About Patterson Lake North: The Company's 4,074-hectare owned Patterson Lake North property (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Fission Uranium's Triple R and NexGen Energy's Arrow high-grade world class uranium deposits which is poised to become the next major area of development for new uranium operations in northern Saskatchewan. PLN is accessed by Provincial Highway 955, which transects the property, and the new JR Zone uranium discovery is located 23km northwest of Fission Uranium's Triple R deposit. The PLN property is part of the PLN Project which also includes the Minto and Broach properties. Forward Looking Statements This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are "forward-looking statements." These forward-looking statements reflect the expectations or beliefs of the management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release. F3 Uranium Corp. 750-1620 Dickson Avenue Kelowna, BC V1Y9Y2 Contact Information Investor Relations Telephone: 778 484 8030 Email: ir@ ON BEHALF OF THE BOARD "Dev Randhawa" Dev Randhawa, CEO
