Business
RETRANSMISSION: Atomic Minerals Corp. Clarifies the Proposed Drilling Schedule for The Bleasdell Lake Uranium Project
Vancouver, British Columbia--(Newsfile Corp. - November 14, 2024) - Atomic Minerals Corp. (TSXV:...
About this update from Atomic Minerals Corporation
[{"type":"text","content":"RETRANSMISSION: Atomic Minerals Corp. Clarifies the Proposed Drilling Schedule for The Bleasdell Lake Uranium ProjectVancouver, British Columbia--(Newsfile Corp. - November 14, 2024) - Atomic Minerals Corp. (TSXV: ATOM) (\"Atomic\" or the \"Company\") wishes to clarify the exploration schedule for the Bleasdell Lake Project (\"Bleasdell Lake\") in a previous news release disseminated early yesterday morning, November 13, 2024. Permits are currently in process and expected to be finalized shortly, with the Company's main objective being to mobilize on the property and commence drilling in December as quickly as possible. The Company regrets any confusion that may have been created by the previous inaccurate new release.The Bleasdell Lake project is located approximately 95 kilometers southwest of Lynn Lake, Manitoba, Atomic Minerals is advancing toward obtaining a multi-year permit for ground-based geophysics and up to 4,000 meters of diamond drilling. The exploration program will focus on three newly identified uranium target zones in addition to the historically drilled Horn and Jackpine zones. These areas are known for uranium-bearing pegmatite dykes. Historic trenching returned 91m averaging 0.12% U3O8 over 2.56m and 33.5m averaging 0.62% U3O8 over 1.21m. Drilling beneath the trenching identified a 1957 historic resource of 620,700 pounds of U3O8 (triuranium octoxide), identified within the Horn and Jackpine zones.This historic estimate was originally reported in a shareholder report for Columbia Metals Exploration Co. Ltd. dated Nov. 9, 1957. The estimate, which was calculated using the standards of the time, is based on data from closely spaced shallow drill holes and more widely spaced deeper drill holes. While the historic resource is considered relevant to the potential of the Bleasdell Lake property, there is no technical report, and the calculations, methods and parameters used were not disclosed in the shareholder report. Consequently, a qualified person has not completed sufficient work to classify the historical estimate as a current mineral resource.The Company acknowledges that, to upgrade or verify the historical estimate as a current mineral resource, significant twinning of the historic drill holes will be necessary. As such, Atomic is not treating the historical estimate as a current mineral resource at this t...