Tisdale Clean Energy Corp. (TCEC:CSE; TCEFF:OTCQB; T1KC:SE) plans a late winter 2024 drill program at the South Falcon East uranium project in the Athabasca Basin, reported David Talbot, Red Cloud Securities head of equity research, in a February 9 research note.
"The confirmation drilling should help in eventually making the historical resources current, with the potential to expand the resource base if the results of extension and regional drilling are positive," Talbot wrote.
Details of the Campaign
The 2024 drill program will be the first for Tisdale at South Falcon East, and this preliminary, phase one event will comprise 1,500 meters (1,500m), Talbot wrote. The company will carry out this work pursuant to its earn-in agreement for a 75% interest in this project owned by Skyharbour Resources.
Data From 2015
Back in 2015, Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE) calculated a mineral resource estimate on Fraser Lakes B, a uranium deposit in the southern portion of South Falcon East, which was 5,900,000 pounds of U3O8 at a 0.02% cutoff grade, wrote Talbot.
Tisdale, with its drilling later this year, the analyst indicated, aims to confirm and expand this historical resource, first and foremost. A second purpose is to add mineralized zones along the "structural package that hosts the Fraser Lakes B deposit" by drilling targets in the T-Bone Lake area.
Talbot provided context by noting drilling by Skyharbour in 2015 of five holes over 1,278m, "intersected multiple intervals of basement-hosted uranium mineralization, starting at shallow depths." One stellar intercept encountered in hole FP-15-03 showed 0.1% U3O8 over 6m, including 0.165% U3O8 over 2m (FP-15-03).
That historical work also showed the mineralized areas, extending 175m downhole, remain open to the southwest, east-northeast and at depth.
"We look forward to the results of the program. The confirmation drilling should help in eventually making the historical resources current, with the potential to expand the resource base if the results of extension and regional drilling are positive," Talbot wrote.
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Important Disclosures:
- Tisdale Clean Energy Corp. and Skyharbour Resources Ltd. are billboard sponsors of Streetwise Reports and pay SWR a monthly sponsorship fee between US$4,000 and US$5,000.
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Tisdale Clean Energy Corp. and Skyharbour Resources Ltd.
- Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
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Disclosures for Red Cloud Securities, Tisdale Clean Energy Corp., February 9, 2024
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