Latest news with #UREnergy
Yahoo
27-05-2025
- Business
- Yahoo
Strathmore Expands Agate Project
Kelowna, British Columbia--(Newsfile Corp. - May 27, 2025) - Strathmore Plus Uranium Corporation (TSXV: SUU) (OTCQB: SUUFF) ("Strathmore" or "the Company") is pleased to announce the expansion of the Agate Project by staking an additional 15 lode mining claims, increasing the project to 100 claims for ~2,067 acres. The newly claimed area has noted historical drilling completed by Kerr McGee in the 1970s that encountered shallow uranium mineralization at less than 200 feet deep. Strathmore will continue to expand the area of mineralization after last years successful drilling program. Agate is in the Shirley Basin Uranium District, one of the most prolific uranium districts in the U.S. where 53 million pounds of uranium has been mined by open pit, underground and in-situ recovery. UR Energy's Shirley Basin project is located 6 miles to the northeast of Agate, where they are actively building an in-situ operation as a satellite to their Lost Creek mine 100 miles west in central Wyoming. In 2024, Strathmore identified a new zone of shallow mineralization located one mile south of the northern trend, within the overlying middle sand unit. Notable drill results include hole AG-143-24, which intersected 14 feet of 0.046% eU₃O₈ (from 30.5 to 44.5 feet), and hole AG-147-24, with 15.5 feet of 0.051% eU₃O₈ (from 29 to 44.5 feet). This newly discovered trend remains open to both the north and south and is scheduled for further exploration in the 2025 season and is expected to significantly expand the resource. Strathmore has completed 200 exploration holes (including 5 monitor wells) on the Agate project, with over 90% of the holes hitting mineralization. The 2023-24 exploration defined approximately 3,700 feet of a mineralized trend in the lower sand unit, with notable intercepts in two holes, AG-10-23 (16.0 feet @ 0.081% eU3O8 from 82.0-98.0 feet) and AG-16-23 (21.0 feet @ 0.089% eU3O8 from 79.0-100.0 feet). This northern trend is open to the west and east, where further exploration in 2025 intends to expand into these untested areas. Strathmore Director John DeJoia commented "I have personally mined and been responsible for mining approximately 20 million pounds of uranium in Shirley Basin (now UR Energy's property). I mined by open pit, underground methods, and the first commercial ISR operation in the U.S. With 9 out of every 10 exploration drill holes we completed intercepting mineralization at Agate, I have re-evaluated my conventional thinking regarding economics. Conventional wisdom has always professed that "Grade is King" however, the uranium mineralization at Agate is thick and therefore yields substantial grade-thickness (GT) products, and it is at a shallow depth of a little over a hundred feet! Grade is important but the economics at Agate are outstanding. I'm excited to be starting our 2025 drilling program and continuing to grow this project for a future ISR mine". 2025 Exploration Plan Strathmore is pleased to announce the 2025 Exploration Plan for the Agate Project, to expand the area of mineralization after last years very successful drilling program. Currently up to 100 drill sites are permitted, with the intent to explore with two drill programs. This summer five core holes are planned to compliment groundwater studies from closely located monitor wells previously installed in 2024. The core will be used for chemical equilibrium studies by the Company and the University of Wyoming for their ongoing geophysical research at the project. Planned exploration drilling intends to link together discrete deposits encountered in the lower sand in 2023-24 and expand upon the 2024 discovery of mineralization in the shallow middle sand. The intent of the exploration is to expand the mineralization on the property into a multi-zone deposit, with the potential of stacked roll fronts, and to gather the necessary information to complete a mineral resource estimate and technical report on the project during winter 2025. University of Wyoming Research Project Strathmore is also pleased to report on the University of Wyoming's (UW) ongoing geophysical study at the Agate project. The research by Dr. Bradley Carr, Director of UW's Near-surface Geophysical Center, consists of ground and borehole geophysics applied across the project to detect and image a uranium roll front and possibly monitor the movement of the roll front's position during future in-situ mining development. In this research, the borehole and surface geophysical methods utilized include Seismic Reflection, Seismic Refraction, Direct Current Resistivity, Induced Polarization, Electromagnetics, Self-Potential, and Nuclear Magnetic Resonance. Strathmore looks forward to working with Dr. Carr to provide potential targets for the 2025 exploration season, including the new 1- mile step out discovery, based on their current geophysical studies and those completed in 2023-24. In early 2023, Dr. Carr received a grant from the University's School of Energy Resources for US$200,000 to complete the research. Recently Dr. Carr was awarded additional funding for US$120,000 which in part will be used to advance the geophysical research at Agate, and for a study of deeper uranium mineralization at the Company's Beaver Rim project during summer 2025. Lastly, Strathmore has donated US$20,000 to the University to help finalize the purchase of XRF analysis capabilities on core samples for the Department of Geology and Geophysics' GeoTEK analysis equipment. About the Agate Property The Agate property consists of 85 wholly owned lode mining claims covering 1,756 acres. Uranium mineralization on the project is contained in classic Wyoming-type roll fronts within the Eocene Wind River Formation, an arkosic-rich sandstone. Historically, 53 million pounds of uranium were mined in Shirley Basin, including from open-pit, underground, and the first commercial in-situ recovery operation in the USA during the 1960s. At the property, the uranium mineralization is shallow, from 20 to approximately 150 feet deep, much of which appears below the water table and likely amenable to in-situ recovery. Kerr McGee Corporation, the largest US uranium mining company at the time, drilled at least 650 holes across the project area in the 1970s, delineating several targets of potential mineralization. In 2023 and 2024, the Company completed 200 exploration holes on the Project, discovering several areas of potential mineralization. About Strathmore Plus Uranium Strathmore is focused on discovering uranium deposits in Wyoming, and has three permitted uranium projects including Agate, Beaver Rim, and Night Owl. The Agate and Beaver Rim properties contain uranium in typical Wyoming-type roll front deposits based on historical drilling data. The Night Owl property is a former producing surface mine that was in production in the early 1960s. Cautionary Statement: "Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release". Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Strathmore Plus Uranium Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at The forward-looking statements included in this press release are made as of the date of this press release and Strathmore Plus Uranium Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Qualified Person The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Terrence Osier, Vice President, Exploration of Strathmore Plus Uranium Corp., a Qualified Person. Strathmore Plus Uranium Corp. Contact Information:Investor RelationsTelephone: 1 888 882 8177 Email: info@ ON BEHALF OF THE BOARD"Dev Randhawa"Dev Randhawa, CEO To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
21-05-2025
- Business
- Cision Canada
Great Northern Energy Metals Acquires Option to Secure Uranium Claims in Colorado
VANCOUVER, BC, May 21, 2025 /CNW/ - Great Northern Energy Metals Inc. (" GNEM" or the " Company") (CSE: GNEM) is pleased to announce that it has entered into an assignment and assumption agreement (the " Assignment Agreement") to acquire all rights, title, and interests in an option agreement (the " Option Agreement") originally dated February 6, 2025, between UREnergy, LLC, a Colorado-based uranium company (" UREnergy"), and 16508731 Canada Inc., an Ontario-incorporated entity (the " Assignor"). Under the Assignment Agreement dated May 18, 2025, GNEM assumes the rights and obligations to earn a 100% interest in a package of mineral claims and leases (the " Property") located in San Miguel County, Colorado. The Property includes the Slickrock Lease and 60 contiguous unpatented mining claims, known for historical uranium occurrences. Transaction Summary: GNEM has assumed the Assignor's obligations under the Option Agreement to acquire the Property in exchange for: An aggregate of USD$1,450,000 in cash payments (collectively, the "Option Cash Payments") to UREnergy, following the below payment schedule: $250,000 on Nov 3 rd, 2025 $400,000 on May 18 th 2026; $400,000 May 18 th 2027; and $400,000 on May 18 th 2028; The issuance of fully-paid and non-assessable common shares in the capital of GNEM (the " Option Shares") to UREnergy in four tranches totaling CDN$1,830,000, following the below payment schedule: $750,000 worth of Option Shares on Nov 3 rd 2025; $360,000 worth of Option Shares on May 18 th 2026 $360,000 worth of Option Shares on May 18 th 2027; and $360,000 worth of Option Shares May 18 th 2028. The deemed price of the Option Shares will be based on the 15-day volume-weighted average trading price of GNEM's shares on the Canadian Securities Exchange (the " CSE") at the time of issuance. All issuances are subject to regulatory approval. UREnergy has provided customary representations and warranties, including good title and compliance with applicable environmental and permitting regulations. The Assignment is subject to any necessary approvals under applicable Canadian securities laws and the policies of the CSE. Strategic Importance The Property hosts prospective uranium targets in a historically productive uranium belt. The acquisition aligns with GNEM's strategy to secure high-potential uranium assets in geopolitically stable jurisdictions. "This transaction gives GNEM a significant foothold in a tier-one uranium jurisdiction," stated David Mitchell CEO of GNEM. "We believe the Slickrock district has untapped potential, and we are excited to advance exploration and development efforts in collaboration with UREnergy." About Great Northern Energy Metals Inc. GNEM is a Canadian-based exploration and development company focused on securing and developing critical energy metals, including uranium. The Company's mission is to support the global transition to clean energy through responsible resource development. Cautionary Note Regarding Forward-Looking Statements This news release includes certain statements that may be deemed "forward-looking statements", including but not limited to: the payments to be made under the Option Agreement, the development potential of the Property, approval of the CSE, and GNEM's strategic objectives. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Yahoo
21-05-2025
- Business
- Yahoo
Great Northern Energy Metals Acquires Option to Secure Uranium Claims in Colorado
VANCOUVER, BC, May 21, 2025 /CNW/ - Great Northern Energy Metals Inc. ("GNEM" or the "Company") (CSE: GNEM) is pleased to announce that it has entered into an assignment and assumption agreement (the "Assignment Agreement") to acquire all rights, title, and interests in an option agreement (the "Option Agreement") originally dated February 6, 2025, between UREnergy, LLC, a Colorado-based uranium company ("UREnergy"), and 16508731 Canada Inc., an Ontario-incorporated entity (the "Assignor"). Under the Assignment Agreement dated May 18, 2025, GNEM assumes the rights and obligations to earn a 100% interest in a package of mineral claims and leases (the "Property") located in San Miguel County, Colorado. The Property includes the Slickrock Lease and 60 contiguous unpatented mining claims, known for historical uranium occurrences. Transaction Summary: GNEM has assumed the Assignor's obligations under the Option Agreement to acquire the Property in exchange for: An aggregate of USD$1,450,000 in cash payments (collectively, the "Option Cash Payments") to UREnergy, following the below payment schedule: The issuance of fully-paid and non-assessable common shares in the capital of GNEM (the "Option Shares") to UREnergy in four tranches totaling CDN$1,830,000, following the below payment schedule: The deemed price of the Option Shares will be based on the 15-day volume-weighted average trading price of GNEM's shares on the Canadian Securities Exchange (the "CSE") at the time of issuance. All issuances are subject to regulatory approval. UREnergy has provided customary representations and warranties, including good title and compliance with applicable environmental and permitting regulations. The Assignment is subject to any necessary approvals under applicable Canadian securities laws and the policies of the CSE. Strategic Importance The Property hosts prospective uranium targets in a historically productive uranium belt. The acquisition aligns with GNEM's strategy to secure high-potential uranium assets in geopolitically stable jurisdictions. "This transaction gives GNEM a significant foothold in a tier-one uranium jurisdiction," stated David Mitchell CEO of GNEM. "We believe the Slickrock district has untapped potential, and we are excited to advance exploration and development efforts in collaboration with UREnergy." About Great Northern Energy Metals Inc. GNEM is a Canadian-based exploration and development company focused on securing and developing critical energy metals, including uranium. The Company's mission is to support the global transition to clean energy through responsible resource development. Cautionary Note Regarding Forward-Looking Statements This news release includes certain statements that may be deemed "forward-looking statements", including but not limited to: the payments to be made under the Option Agreement, the development potential of the Property, approval of the CSE, and GNEM's strategic objectives. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. SOURCE Great Northern Energy Metals Inc. View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
