Atomic Minerals Plans Exploration with New Initiatives in Northern Saskatchewan’s Uranium Epicenter

April 23, 2024
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Atomic Minerals Corporation

TSXV ATOM

Atomic Minerals Corporation announce that in anticipation of the upcoming exploration season the Company has engaged Grander Exploration Ltd. (“Grander”) to drive preliminary exploration programs and provide recommendations and budgets for the lead projects in its newly acquired Northern Saskatchewan property portfolio (the “Property”). (see February 5, 2024March 6, 2024, and April 16, 2024 news releases).

Initially the focus will be on the projects within the Athabasca Basin: Parks Lake and Pistol Lake, one project to the south, Archie Lake and one project to the southeast, Bleasdell Lake.

“Atomic Minerals is thrilled to announce the engagement of Grander Exploration to spearhead the planning and future execution of exploration programs, it’s an exciting time for Atomic Minerals with these new prospects in Northern Saskatchewan’s Athabasca Basin”

“Grander’s innovative geological tools, including IP, magnetometer, and radiometric surveys, will expand the capabilities of our geological team, enabling a thorough investigation of these prolific uranium properties and building on the region’s rich uranium mining heritage to optimally position our projects for success”

Clive Massey, President, and CEO of Atomic Minerals.

The Property portfolio in Northern Saskatchewan is comprised of nine individual properties spanning nearly 6,500 hectares. This strategically located portfolio lies within and adjacent to the prolific Athabasca Basin, a crucial area for uranium exploration.

Atomic Minerals is committed to responsibly advancing these projects with a focused exploration strategy targeting the full exploration potential of these assets. The Company’s dedication to sustainable practices, community engagement, and ethical exploration will drive the development of these projects, reinforcing Atomic Minerals’ position as a leader in the uranium exploration sector.

Parks Lake

Parks Lake lies in a highly prospective area on the eastern side of the Athabasca Basin, 3 km to SE of historic Rabbit Lake Mine and 2 km to 4km E to NE of Uranium Energy Corp.’s Horseshoe and Raven deposits. Majors completely surround Parks Lake, with Uranium Energy bordering the west and south and Cameco bordering the east and north. Conductors appear to trend from Uranium Energy’s land onto the Parks Lake property, suggesting a high priority target.

With good road access, Grander Exploration proposes a 6-line km combined induced polarization (“IP”) and magnetometer program along with 12-line km of radiometry. The focus of this program is confirming conductors continue onto the Parks Lake property and delineate them for subsequent drilling.

Pistol Lake

Pistol Lake lies 600 metres north of Cameco’s 5,000,000 LBS Sand Lake Uranium Deposits, completely surrounded by Cameco. Recent drilling has been undertaken on most of the nearby claims according to the property vendor, suggesting conductors that appear to trend onto the Pistol Lake property are high priority targets.

Grander Exploration proposes a helicopter supported program consisting of 20-line km of IP-magnetometer-radiometry surveying focused on the suspected strike extensions of conductors on the Cameco ground in advance of diamond drilling. 

Bleasdell Lake

Bleasdell Lake, lying to the southeast of the Athabasca Basin, 95 kilometres southwest of Lynn Lake, Manitoba, is one of the key properties in the package. Exploration in the late 1950’s discovered two uranium bearing pegmatite dykes on the west shore of Bleasdell Lake. The 400 metre Horn Zone hosted zones of 90 metres of 0.12% U3O8 over 2.56 metres and 0.062% U3O8 over 1.21 metres, while drill width intersections over the entire 400 metre ranged from 0.091% U3O8 over 1.86 metres to 0.2025% U3O8 over 2.99 metres. There is little information on the Jackpine Zone located 450 metres along strike to the northwest. The sampling, trenching and diamond drilling defined a 1957 historic resource of 620,700 pounds of U3O8 contained within two zones.

Grander Exploration proposes a helicopter supported program consisting of 18-line km of IP surveying and 50-line km of magnetometer surveying focused on the strike extensions of the Horn and Jackpine zones in advance of diamond drilling. 

The 1957 Bleasdell Lake historic resource was disclosed in a shareholder report for Columbia Metals Exploration Co. Ltd. dated November 9, 1957 (the “Shareholder Report”). There is no technical report. The historic resource is relevant to the potential of the Bleasdell Lake property and is reliable as it was calculated to the standards of the day. The estimate was based on closely spaced shallow drill holes and more widely spaced deeper drill holes. The calculations, methods or parameters were not disclosed in the Shareholder Report. The resource would be comparable to a current inferred resource. There are no more recent estimates though subsequent geologists visited the Property in the 1960’s and 1970’s, confirming the showings and the drilling was completed. The Company will need to twin a considerable number of the historic drill holes to upgrade or verify the historical estimate as current mineral resources.

A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource. Therefore, Atomic Minerals is not treating the historical estimate as a current mineral resource.

Archie Lake

Archie Lake lies contiguous to the north, east and west to NexGen Energy, on the southwest edge of the Athabasca Basin. NexGen holds a significant land package across three large blocks in this area, focused on repeats of its Arrow high-grade basement hosted uranium deposit. Grander Exploration proposes a helicopter supported program consisting of 6-line km of IP and magnetometer and 12-line km of radiometry surveying as a first pass program to identify prospective geology and conductors for follow up exploration in advance of diamond drilling. 

About Grander Exploration Ltd

Grander Exploration Ltd. is a specialized company based in Vancouver, British Columbia, that provides comprehensive ground exploration services across Canada. Their services are tailored to both large and small projects, ensuring that every undertaking is managed with the highest level of expertise by qualified personnel, including Professional Geologists if required. The company is particularly adept in uranium exploration, utilizing advanced technologies such as gamma radiation detection with Radiation Solutions RS-125 spectrometers and RS-120 scintillometers, alongside radon gas collection methods. These techniques enable Grander Exploration to identify and map uranium deposits effectively. They also offer a range of other services, including diamond drilling, geophysical surveys like IP and VLF EM to locate subsurface features, and detailed program planning and administration for exploration projects. For more detailed information about their services and capabilities, you can visit their official website: Grander Exploration.

The data disclosed in this news release are related to historical exploration and drilling results. Atomic Minerals has not undertaken any independent investigation of the sampling, nor has it independently analyzed the results of the historical exploration work in order to verify the results. The Company considers these historical exploration and drill results relevant as the Company is using these data as a guide to plan exploration programs. The Company’s current and future exploration work includes verification of the historical data through sampling and drilling.

Qualified Person

Mr. R. Tim Henneberry, P.Geo. (BC), an advisor to the Company, is the “Qualified Person” under National Instrument 43-101 responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.

About the Company 

Atomic Minerals Corp. is a publicly listed exploration company on the TSX Venture Exchange, trading under the symbol ATOM, led by a highly skilled management and technical team with a proven track record in the junior mining sector. Atomic Minerals’ objective is to identify exploration opportunities in regions that have been previously overlooked but are geologically similar to those with previous uranium discoveries. These underexplored areas hold immense potential and are in stable geopolitical and economic environments.

Atomic Minerals’ property portfolio contains uranium projects in three locations within North America, all of which have significant technical merit and or are known for hosting uranium production in the past. Three of the properties are located on the Colorado Plateau, an area which has previously produced 597 million pounds of U3O8; Three others are in the prolific Athabasca Basin region and nine uranium projects are located in Northern Saskatchewan, encompassing a total exploration area of 6,495 hectares. 

ON BEHALF OF THE BOARD OF DIRECTORS
“Clive Massey”
Clive H. Massey
President & CEO

Neither TSX Venture Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements:

This news release contains certain statements that may be deemed “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 Atomic Minerals Corporation 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 forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Atomic Minerals Corporation management on the date the statements are made. Except as required by law, Atomic Minerals Corporation undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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