Atomic Minerals Corporation Updates Harts Point Uranium Project Drill Permitting Process in Partnership with Kraken Energy Corp.
Atomic Minerals (TSXV: ATOM) has provided an update on the drill permitting process for its Harts Point Uranium Project in San Juan County, Utah. The company, in partnership with Kraken Energy Corp. (CSE: UUSA), submitted a permit application in August 2024, which has been reviewed by the Bureau of Land Management (BLM). Kraken plans to conduct exploratory drilling across 15 proposed sites, targeting uranium mineralization at depths of over 1500 feet.
The Harts Point Project covers 6,500 acres and is located in the Colorado Plateau, a region that has historically produced over 328 million pounds of U₃O₈. The project is believed to be analogous to the Lisbon Valley Uranium District, which produced approximately 80 million pounds of U₃O₈ at 0.34% grade. The upcoming drill program aims to validate historical data and provide insights into the property's resource potential.
Atomic Minerals (TSXV: ATOM) ha fornito un aggiornamento sul processo di ottenimento dei permessi di perforazione per il suo Harts Point Uranium Project nella contea di San Juan, Utah. L'azienda, in collaborazione con Kraken Energy Corp. (CSE: UUSA), ha presentato una domanda di permesso nell'agosto del 2024, che è stata esaminata dal Bureau of Land Management (BLM). Kraken prevede di effettuare perforazioni esplorative in 15 siti proposti, mirando alla mineralizzazione di uranio a profondità superiori a 1500 piedi.
Il progetto Harts Point copre 6.500 acri ed è situato nel Colorado Plateau, una regione che storicamente ha prodotto oltre 328 milioni di libbre di U₃O₈. Si ritiene che il progetto sia analogo al Distretto Uranifero di Lisbon Valley, che ha prodotto circa 80 milioni di libbre di U₃O₈ con un contenuto dello 0,34%. Il prossimo programma di perforazione mira a convalidare i dati storici e fornire informazioni sul potenziale di risorsa della proprietà.
Atomic Minerals (TSXV: ATOM) ha proporcionado una actualización sobre el proceso de obtención de permisos de perforación para su Harts Point Uranium Project en el condado de San Juan, Utah. La empresa, en asociación con Kraken Energy Corp. (CSE: UUSA), presentó una solicitud de permiso en agosto de 2024, la cual ha sido revisada por la Oficina de Gestión de Tierras (BLM). Kraken planea realizar perforaciones exploratorias en 15 sitios propuestos, con el objetivo de localizar mineralización de uranio a profundidades superiores a 1500 pies.
El proyecto Harts Point abarca 6,500 acres y está ubicado en el Colorado Plateau, una región que históricamente ha producido más de 328 millones de libras de U₃O₈. Se cree que el proyecto es análogo al Distrito de Uranio de Lisbon Valley, que produjo aproximadamente 80 millones de libras de U₃O₈ con una ley del 0.34%. El próximo programa de perforación tiene como objetivo validar los datos históricos y proporcionar información sobre el potencial de recursos de la propiedad.
Atomic Minerals (TSXV: ATOM)은 유타주 San Juan 카운티에 있는 Harts Point Uranium Project의 드릴 허가 과정에 대한 업데이트를 제공했습니다. 이 회사는 Kraken Energy Corp. (CSE: UUSA)와 협력하여 2024년 8월에 허가 신청서를 제출하였으며, 이는 토지 관리국(BLM)에서 검토하였습니다. Kraken은 15개의 제안된 장소에서 탐사 드릴링을 실시할 계획이며, 1500피트 이상의 깊이에서 우라늄 광물화를 목표로 하고 있습니다.
Harts Point 프로젝트는 6,500에이커의 면적을 커버하며, 콜로라도 고원에 위치해 있으며, 이 지역은 역사적으로 3억 2800만 파운드 이상의 U₃O₈를 생산해 왔습니다. 이 프로젝트는 약 8000만 파운드의 U₃O₈를 0.34%의 등급으로 생산한 리스본 밸리 우라늄 지구와 유사한 것으로 여겨집니다. 다가오는 드릴 프로그램은 역사적 데이터를 검증하고 자원의 잠재성에 대한 통찰력을 제공할 목표를 가지고 있습니다.
Atomic Minerals (TSXV: ATOM) a fourni une mise à jour sur le processus de demande de permis de forage pour son Harts Point Uranium Project dans le comté de San Juan, Utah. L'entreprise, en partenariat avec Kraken Energy Corp. (CSE: UUSA), a soumis une demande de permis en août 2024, qui a été examinée par le Bureau de la gestion des terres (BLM). Kraken prévoit de réaliser des forages exploratoires sur 15 sites proposés, visant la minéralisation d'uranium à des profondeurs supérieures à 1500 pieds.
Le projet Harts Point couvre 6 500 acres et est situé dans le Colorado Plateau, une région qui a historiquement produit plus de 328 millions de livres de U₃O₈. Ce projet est considéré comme analogue au district d'uranium de Lisbon Valley, qui a produit environ 80 millions de livres de U₃O₈ à un taux de 0,34 %. Le prochain programme de forage vise à valider les données historiques et à fournir des perspectives sur le potentiel des ressources de la propriété.
Atomic Minerals (TSXV: ATOM) hat ein Update zum Genehmigungsprozess für Bohrungen des Harts Point Uranium Project im San Juan County, Utah, bereitgestellt. Das Unternehmen hat zusammen mit der Kraken Energy Corp. (CSE: UUSA) im August 2024 einen Genehmigungsantrag eingereicht, der vom Bureau of Land Management (BLM) geprüft wurde. Kraken plant, explorative Bohrungen an 15 vorgeschlagenen Standorten durchzuführen, wobei Uranmineralisierungen in Tiefen von über 1500 Fuß angestrebt werden.
Das Harts Point Projekt umfasst 6,500 Acres und liegt im Colorado Plateau, einer Region, die historisch über 328 Millionen Pfund U₃O₈ produziert hat. Man glaubt, dass das Projekt analog zum Uranbezirk Lisbon Valley ist, der etwa 80 Millionen Pfund U₃O₈ mit einem Gehalt von 0,34% produziert hat. Das bevorstehende Bohrprogramm zielt darauf ab, historische Daten zu validieren und Einblicke in das Ressourcenpotenzial des Grundstücks zu geben.
- Partnership with Kraken Energy Corp. for exploration and development
- Drill permit application reviewed by BLM, moving forward with 15 proposed drill sites
- Property located in historically productive uranium region (Colorado Plateau)
- Potential for high-grade uranium deposits based on historical production in nearby areas
- Excellent infrastructure with proximity to uranium processing facility and town of Monticello
- Drilling results are based on historical data, not yet independently verified
- Exploration is still in early stages, with no confirmed uranium resources
Vancouver, British Columbia--(Newsfile Corp. - September 30, 2024) - Atomic Minerals Corporation (TSXV: ATOM) ("ATOMIC MINERALS" or the "Company") is pleased to provide an update on ongoing drill permitting for its 6,500-acre Harts Point Uranium Project ("Harts Point") in San Juan County, Utah. This update is in partnership with Kraken Energy Corp. (CSE: UUSA) ("Kraken"), the Company's optionee partner, and the operator for the upcoming exploration program.
The August 2024 permit application has now been reviewed by the Monticello Field Office of the Bureau of Land Management ("BLM") with comments provided to Kraken. The partners are currently addressing the comments. Kraken plans to conduct exploratory drilling across fifteen (15) proposed sites targeting the basal Moss Back member of the Chinle formation for uranium mineralization at depths of + 1500 feet (457 metres).
The next phase of drilling is aimed at building on the successful Phase I drilling campaign at Harts Point. This collaboration with Kraken Energy underscores both companies' commitment to advancing exploration and development projects in this promising region. As described in the Company's permit applications, these permits will facilitate the execution of a thorough drilling and exploration program, designed to unlock the potential of the uranium-rich Harts Point Property.
Clive Massey, President & CEO of Atomic Minerals, commented, "We are excited to be advancing the Harts Point Uranium Project alongside our partners at Kraken Energy. With the feedback received from the BLM on our permitting application, we are well-positioned to move forward with our exploration program. This step brings us closer to unlocking the significant potential of Harts Point, located in one of the most promising uranium regions in the U.S. We are confident that the upcoming drill program will help validate historical data and provide valuable insights into the property's resource potential."
On May 23, 2023, Atomic Minerals executed a definitive agreement with Kraken Energy Corp., granting Kraken the option to acquire up to a
Lisbon Valley encompasses the Big Indian mining district, which produced 77.9 million pounds of uranium oxide ("U₃O₈") and 19 million pounds of vanadium from 16 large mines between 1952 and 1988 from the Triassic Chinle and Permian Cutler Formations from relatively shallow depths to more than 2,550 feet. This production represents more than 80 percent of the uranium ore mined in Utah during this time period. Ore grades averaged 0.34 percent U3O8, making these the highest grade and thickest mineable widths of all the large uranium mining districts discovered in the United States.1
Harts Point Property Highlights:
World class uranium jurisdiction: located in the center of the Colorado Plateau, which has produced over 328 million ("M") pounds ("lbs") U₃O₈ at 0.2 to
0.4% U₃O₈ since the 1950s.2Property consists of 324 lode mining claims on Bureau of Land Management ("BLM") ground that covers an area of 2,622 hectares ("ha") (6,480 acres).
Harts Point Anticline is Analogous to the Lisbon Valley Anticline: where the Lisbon Valley Uranium District hosted 17 large uranium mines which produced approximately 80M lbs U₃O₈ at
0.34% U₃O₈ from 1948 to 1988.3The dimensions of these tabular sandstone-hosted uranium deposits range from 2 to 13 meters ("m") (7 to 43 feet) thick, 100 to 3,048 m (328 to 10,000 feet) long, and 31 to 427 m (100 to 1,400 feet) wide.
Significant Historic Uranium Production:
Several historic mines located 11 km (7 miles) west of the Harts Point Property produced approximately 280,000 lbs U₃O₈ at
0.3% U₃O₈ from the favorable Chinle Formation host rock. 4
The Lisbon Valley Anticline is located 31 km (19 miles) to the east of the Harts Point Property produced approximately 80M lbs U₃O₈
0.34% U₃O₈.5
Historic Exploration: Three wide-spaced historic oil and gas wells on the Property along the east flank of the Harts Point Anticline show 'off-scale' radioactivity within the favorable Chinle Formation host rock.
Drilled between 1953 and 1980, historic drill holes 43-037-10438, 43-037-30109, and 43-037-30623 showed off-scale radioactivity readings between 2.1 to 3.7 m thickness (7 to 12 feet) from depths of 390 to 417 m (1,280 to 1,368 feet).
Excellent Infrastructure: located approximately 64 km (40 miles) north of the White Mesa uranium processing facility.
There is also excellent access throughout the Property, which is situated 45 km (28 miles) from the town of Monticello, Utah.
Figure 1: Harts Point Claim Group, San Juan County, Utah
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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.
Atomic cautions investors that the presence of uranium mineralization at Lisbon Valley is not necessarily indicative of similar mineralization at Harts Point.
Technical Information
The drilling results referenced in this release are from historical data, which Atomic Minerals is utilizing as a guide for current and future exploration efforts. The Company has not independently verified the sampling or analysis of this historical data. The planned drilling program at Harts Point will aim to validate the historical results, advancing the Company's understanding of the uranium potential at the site.
About the Harts Point Property
Harts Point is located in the heart of the Colorado Plateau, an area often referred to as "the Athabasca Basin of the U.S." due to its rich uranium resources. The property is situated 64 kilometers (40 miles) north of the White Mesa Uranium Mill, the only fully licensed and operational conventional uranium mill in the United States. Harts Point consists of 324 lode mining claims on BLM land, with drill permits secured for up to 20 exploration drill holes.
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 Northern Saskatchewan, encompassing a total exploration area of 6,495 hectares.
For additional information about the Company and its projects, please visit our website at www.atomicminerals.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
"Clive Massey"
Clive H. Massey
President & CEO
For further information, please contact:
info@atomicminerals.ca
(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.
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1 Source: Chenoweth, W.L. (1990). Lisbon Valley, Utah's Premier Uranium Area, a Summary of Exploration and Ore Production. Utah Geological Survey Open File Report 188, July 1990.
2 Source: Holger Albrethsen, Jr. and Frank E. McGinley (1982). Summary History of Domestic Procurement Under U.S. Atomic Energy Commission Contracts, September 1982.
3 Source: Gordon W. Weir and Willard P. Puffett (1981). Incomplete manuscript on stratigraphy and structural geology and uranium-vanadium and copper deposits of the Lisbon Valley area, Utah-Colorado. Open-File Report 81-39. Pages 153 to 163. United States Department of the Interior Geological Survey.
4 Source: Chenoweth, W.L. (1993): The geology and Production History of the Uranium deposits in the White Canyon Mining District, San Juan County, Utah, Utah Geological Survey Miscellaneous Publication 93-3.
5 Source: Chenoweth, W.L. (1990). Lisbon Valley, Utah's Premier Uranium Area, a Summary of Exploration and Ore Production. Utah Geological Survey Open File Report 188, July 1990.
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