Vancouver, British Columbia--(Newsfile Corp. - November 13, 2024) - Atomic Minerals Corp. (TSXV: ATOM) ("Atomic" or the "Company") wishes to clarify the exploration schedule for the Bleasdell Lake Project ("Bleasdell Lake") in the previous news release dated November 13, 2024 disseminated earlier today. 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 time.
The exploration and drilling results referenced in this release are based on historical data, which Atomic Minerals is utilizing as a foundation for its current and future exploration strategies. The Company has not independently verified the sampling or analysis of this historical data. Planned exploration and drilling at Bleasdell Lake are expected to validate these historical findings and enhance Atomic Minerals' understanding of the uranium potential at the site.
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 that has previously produced 597 million pounds of U3O8 (triuranium octoxide). Six properties, comprising nine claims totaling 6,498 hectares, are located in Northern Saskatchewan: five within or proximal to the prolific Athabasca basin and a sixth that hosts a historic resource.
For additional information about the Company and its projects, please visit our website at www.atomicminerals.ca
For further information, please contact: Investor Relations (604) 341-6870
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.
