Trench Metals Receives Permit to Commence Exploration Program on the Higginson Lake Uranium Property, Athabasca, Canada
Vancouver, Canada – TheNewswire - October 3rd, 2022 - Trench Metals Corp. (the “Company”) (TSXV:TMC), (OTC:NVTQF), (FWB:33H2) has been granted the requisite permit on the Higginson Lake Uranium Property, from the Saskatchewan Ministry of Environment and Lands, for a fall exploration program to commence immediately. The Crown Land Work Authorization Permit (ENV File: 22-15-M0025) authorizes the Company to conduct low impact prospecting, geological mapping, and sampling on multiple target areas over the entire Property (Claim #MC00014430). Exploration crews from Exploration Facilitation Unlimited Inc. will fly in daily by float plane to the Property from the Points North logistical base. The exploration activities are expected to be completed in mid-October.
Uranium mineralization at the Higginson Lake Property is interpreted to be controlled by the Black Lake Fault, a major northeast striking regional fault that transects the Athabasca Basin. As previously reported (Press Release October 18, 2021), the Property hosts a historic drill-indicated reserves of 4.8 million pounds of U3O8 (1). Previous exploration at the Property has identified twelve historic showings, associated with two significant uranium trends identified in an internal company summary report by Exploration Facilitation Unlimited Inc. This report was based on a review of Saskatchewan assessment reports and private data.
Charlebois-Diane Trend- The northern uranium trend strikes east-southeast from the Charlebois Lake showings to the Dianne uranium showings, with projections to the southeast on the recently expanded claims, extending for over seven kilometres. The Charlebois Lake showings have seen little modern exploration and has hundreds of metres of exposure and is the source of the highest assay value results on the property of 1.57 per cent U3O8. The pegmatite showing area is underlaid by massive gneissic granite intruding a metasedimentary series. The contacts consist of a zone of biotite injection gneiss, biotite schists and granite, up to 91 metres wide. At intervals in this contact zone are sill-like lenses of fine-grained biotite pegmatite several metres wide and hundreds of metres long. The radioactivity in the pegmatites is associated with quartz- and biotite-rich portions and is probably due to dissemination of fine-grained uraninite. Yellow staining can be seen intermittently over the zones.
Corrigan Lake Trend – Located southwest of, and paralleling (WNW-ESE), the Charlebois-Diane Trend, the Corrigan Lake Trend was explored by trenching and diamond drilling in the 1950s, with a historical drill indicated resource (1), which was published in the Northern Miner (May 1956) of 2,000,000 tons grading greater than 0.1% U3O8, or 4,400,000 lbs U3O8. (Saskatchewan Mineral Deposit Index File 1656). In addition, a 2008 VTEM report interpretation lists a series of anomalies in the vicinity of the showing as the highest priority targets on the grid flown. The Corrigan Lake showing is underlain by red granite gneisses in the north in contact with migmatites in the south. White pegmatite occurs along the contact and exhibits high radioactivity.
The Higginson Lake property is remarkably under explored, with many targets not worked since the 1950-1960s. The current exploration program will investigate the known historic uranium showings and mineralized zones with the intention of confirming both grade and extent. In addition, the Company has also identified several new zones on interest, which appear to be related to the historic zones and many could expand the overall dimensions of the Higginson system.
The Company acknowledges the traditional lands and rights of the Black Lake Denesuliné Nation, covering the area of the Higginson Lake Property.
About Trench Metals Corp
Trench Metals Corp. is a mineral exploration company with a focus on uranium. We create value for our shareholders by engaging in promising mineral exploration opportunities. Our main goal is the advancement of various projects from discovery all the way to production. This vertically integrated strategy allows Trench Metals to achieve exceptional shareholder value through the entire life-cycle of the mining process.
Trench Metals Corp. has the right to acquire a 100% interest in two highly prospective uranium project in Saskatchewan’s Athabasca Uranium district. The Higginson Lake Uranium Project which covers an area of approximately 5900 hectares and is 52 kilometers northeast of the town of Stony Rapids, which is accessible by Highway 905 and 964. The Higginson Lake Uranium Project hosts two historic drill indicated reserves, totaling 4,800,000 lbs of U308.(1) The Gorilla Lake Uranium Project which comprises of nearly 7000 hectares in the Northern Mining District of Saskatchewan near the Shea Creek uranium deposit. The Athabasca District is home to the highest grade of uranium deposits in the world and accounts for 18% of global uranium production
(1) Dee Exploration Ltd. published in the Northern Miner a historical drill-indicated reserve of two million tons grading greater than 0.1 per cent U3O8, or 4.4 million pounds of U3O8, at the Corrigan Lake showing. In addition, Palmor Industries identified a drill-indicated reserve of 200,000 tons, averaging two pounds per ton U3O8, 550 m northwest of the Corrigan Lake showing, this being an additional 400,000 pounds of U3O8. These historical mineral resource estimates used categories that do not conform to current Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards on Mineral Resources and Mineral Reserves as outlined in National Instrument 43-101. A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource and as such the Company is treating them as a historical resource estimates. Readers are cautioned that the historical mineral resource estimates do not mean or imply that economic deposits exist on the Property.
Dr. Peter Born, P.Geo., is the designated qualified person as defined by National Instrument 43-101 and is responsible for, and has approved, the technical information contained in this release.
On behalf of the Board,
Trench Metals Corp.
Simon Cheng, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the development of the Higginson Lake Uranium Project and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.