Bayridge Resources Receives Constellation Level 2 Exploration Permit for Drilling
Bayridge Resources Corp. (BYRRF) has secured a Level 2 Exploration Permit for its Constellation uranium project in Canada's Athabasca Basin. The permit allows for up to 30 drill sites with a maximum of 10,000 meters of diamond drilling over 18 months, along with 40-line kilometres of grid line cutting for ground geophysical surveys.
The Phase I exploration program revealed 15 spot radiometric anomalies associated with VTEM conductors or magnetic boundaries. The Constellation project, spanning 11,142 ha, is located 60 km southwest of the Key Lake Mine and shows favorable geology for basement-hosted unconformity-style uranium deposits. Bayridge can earn up to 80% interest in the project through cash payments, share issuances, and exploration expenditures over 4 years.
The company has also granted 1,000,000 incentive stock options to directors, officers, and consultants, exercisable at $0.06 with a five-year expiration.
Bayridge Resources Corp. (BYRRF) ha ottenuto un Permesso di Esplorazione di Livello 2 per il suo progetto di uranio Constellation nella Regione dell'Athabasca in Canada. Il permesso consente fino a 30 siti di perforazione con un massimo di 10.000 metri di perforazione con diamante nell'arco di 18 mesi, insieme a 40 chilometri di linee per sondaggi geofisici sul terreno.
Il programma di esplorazione Fase I ha rivelato 15 anomalie radiometriche associate a conduttori VTEM o confini magnetici. Il progetto Constellation, che si estende per 11.142 ha, si trova a 60 km a sud-ovest della Miniera di Key Lake e mostra una geologia favorevole per depositi di uranio ospitati in basement di tipo unconformity. Bayridge può guadagnare fino all'80% di interesse nel progetto attraverso pagamenti in contante, emissioni di azioni e spese per esplorazione nel corso di 4 anni.
La società ha anche concesso 1.000.000 di opzioni su azioni incentivanti a direttori, funzionari e consulenti, esercitabili a $0.06 con una scadenza di cinque anni.
Bayridge Resources Corp. (BYRRF) ha asegurado un Permiso de Exploración de Nivel 2 para su proyecto de uranio Constellation en la Cuenca de Athabasca en Canadá. El permiso permite hasta 30 sitios de perforación con un máximo de 10,000 metros de perforación diamantina durante 18 meses, además de 40 kilómetros de líneas cortadas para encuestas geofísicas en el suelo.
El programa de exploración de la Fase I reveló 15 anomalías radiométricas asociadas con conductores VTEM o límites magnéticos. El proyecto Constellation, que abarca 11,142 ha, está ubicado a 60 km al suroeste de la Mina Key Lake y muestra una geología favorable para depósitos de uranio de tipo unconformity alojados en basement. Bayridge puede obtener hasta un 80% de interés en el proyecto a través de pagos en efectivo, emisiones de acciones y gastos de exploración durante 4 años.
La empresa también ha otorgado 1,000,000 de opciones sobre acciones incentivadas a directores, funcionarios y consultores, que pueden ejercerse a $0.06 con una expiración de cinco años.
Bayridge Resources Corp. (BYRRF)는 캐나다 아사바스카 분지에 위치한 컨스텔레이션 우라늄 프로젝트에 대한 2단계 탐사 허가를 확보했습니다. 이 허가는 18개월 동안 최대 10,000미터의 다이아몬드 시추와 함께 최대 30개의 시추 사이트 및 지구 물리학적 조사 진행을 위한 40킬로미터의 그리드 라인 컷팅을 허용합니다.
1단계 탐사 프로그램은 VTEM 전도체 또는 자기 경계와 관련된 15개의 현상학적 방사능 이상을 밝혔습니다. 컨스텔레이션 프로젝트는 11,142 헥타르에 걸쳐 있으며 Key Lake 광산에서 남서쪽으로 60km 떨어져 있으며, Basement-hosted unconformity 스타일의 우라늄 매장에 유리한 지질학을 보여줍니다. Bayridge는 현금 지급, 주식 발행 및 4년 간의 탐사 지출을 통해 프로젝트에 최대 80%의 지분을 얻을 수 있습니다.
회사는 또한 이사, 임원 및 컨설턴트에게 1,000,000개의 유인 주식 옵션을 부여하였으며, 이는 $0.06에 행사할 수 있고 5년의 만료 기간이 있습니다.
Bayridge Resources Corp. (BYRRF) a obtenu un Permis d'Exploration de Niveau 2 pour son projet d'uranium Constellation dans le bassin d'Athabasca au Canada. Ce permis permet de mettre en place jusqu'à 30 sites de forage avec un maximum de 10 000 mètres de forage au diamant sur une période de 18 mois, ainsi que 40 kilomètres de lignes coupées pour des enquêtes géophysiques au sol.
Le programme d'exploration de Phase I a révélé 15 anomalies radiométriques ponctuelles associées à des conducteurs VTEM ou à des limites magnétiques. Le projet Constellation, s'étendant sur 11 142 ha, est situé à 60 km au sud-ouest de la mine Key Lake et présente une géologie favorable pour les dépôts d'uranium de type unconformité hébergés dans des sous-sols. Bayridge peut gagner jusqu'à 80% d'intérêt dans le projet grâce à des paiements en espèces, des émissions d'actions et des dépenses d'exploration sur une période de 4 ans.
L'entreprise a également accordé 1 000 000 d'options d'actions incitatives à des directeurs, dirigeants et consultants, exerçables à 0,06 $ avec une expiration de cinq ans.
Bayridge Resources Corp. (BYRRF) hat eine Erkundungsgenehmigung der Stufe 2 für ihr Uranprojekt Constellation im Athabasca-Becken in Kanada erhalten. Die Genehmigung erlaubt bis zu 30 Bohrstandorte mit maximal 10.000 Metern Diamantbohrungen über 18 Monate sowie 40 Kilometer an Schnittlinien für geophysikalische Bodenuntersuchungen.
Das Erkundungsprogramm Phase I hat 15 punktuelle radiometrische Anomalien aufgedeckt, die mit VTEM-Leitern oder magnetischen Grenzen verbunden sind. Das Constellation-Projekt erstreckt sich über 11.142 Hektar und liegt 60 km südwestlich der Key Lake Mine, wobei es eine günstige Geologie für basement-hosted unconformity-Stil Uranlagerstätten aufweist. Bayridge kann bis zu 80% Anteil an dem Projekt durch Barzahlungen, Aktienausgaben und Erkundungsausgaben über 4 Jahre erwerben.
Das Unternehmen hat außerdem 1.000.000 Anreiz-Aktienoptionen an Direktoren, Führungskräfte und Berater ausgegeben, die zu einem Preis von 0,06 $ mit einer Laufzeit von fünf Jahren ausgeübt werden können.
- Received Level 2 Exploration Permit allowing up to 10,000 meters of diamond drilling
- Phase 1 drilling program is fully funded
- Identified 15 radiometric anomalies associated with VTEM conductors
- Strategic location 60 km southwest of Key Lake Mine
- Project requires significant future expenditures to earn 80% interest
- Project currently lacks road access, requiring helicopter or float plane transportation
Vancouver, British Columbia--(Newsfile Corp. - January 29, 2025) - Bayridge Resources Corp. (CSE: BYRG) (OTCQB: BYRRF) (FSE: O0K) ("Bayridge" or the "Company") is pleased to announce that it has received the Level 2 Exploration Permit for drilling at its 11,142 ha Constellation uranium project in Canada's Athabasca Basin region.
The Company is permitted for up to 30 drill sites that can total of up to 10,000 metres of diamond drilling within an 18 month period, that the Company will commence with a Phase 1. In addition, a total of 40-line kilometres of grid line cutting in preparation for ground geophysical surveys have also been permitted. The Company also reports it has received the 2024 Phase I exploration assay results. They will be released as soon as the technical team has reviewed and completed QA/QC procedures in respect of the results.
"The drilling permit is the next milestone in the exploration and development of the Constellation project," commented President and CEO Saf Dhillon. "The receipt of this drill permit puts us right on schedule for a late Q1 early Q2 maiden drill program of which, Phase 1 is already fully funded," he continued.
The Phase I exploration program was successful in highlighting several areas of anomalous spectrometer count-per-second anomalies, several of which were associated with the VTEM (versatile time-domain electromagnetic) conductors identified from the Geotech VTEM survey flown earlier in the summer. A total of 15 spot radiometric anomalies or anomalous zones were identified, largely associated with VTEM conductors or the boundaries of magnetic highs and magnetic lows, areas believed to be prospective for uranium mineralization (as shown in Figure 1).
Figure 1 Constellation Project Spectrometer Anomalies
(Readings in CPS or counts per second)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10256/238812_94307509840a39e6_001full.jpg
The Constellation property has favourable geology for basement-hosted unconformity-style uranium deposits. The regional geology and magnetics have defined structural lineaments trending NNW and ESE, which could represent structural conduits between the Archean granite inlier and graphitic metasediments that have been mapped on the property. These types of structural zones typically function as pathways for hydrothermal activity. Historical NE-trending conductors have also been outlined on the property but are under-explored and un-drilled. Strong EM conductors are proven targets associated with unconformity and basement-hosted uranium mineralization in and around the Athabasca Basin.1
Bayridge has the right to earn up to an
The company also announces that it has granted a total of1,000,000 incentive stock options to certain directors, officers and consultants of the Company. The options are exercisable at a price of
Tim Henneberry, P.Geo. (BC), a Consultant and Advisor to the Company, is the Qualified Person under National Instrument 43-101 who has reviewed and approved the technical content of this news release.
About Bayridge Resources Corp.
Bayridge Resources Corp. is a green energy company advancing its portfolio of Canadian uranium and lithium projects. The 1,337 ha Waterbury East project is located 25 km northeast of the Cigar Lake Mine in the northeastern Athabasca Basin region. Geophysical surveys have identified a 7km long conductivity corridor where mid-2000's drilling highlighted faulted and altered basement rock with local uranium enrichment. Large sections of this corridor remain untested. The 11,142 ha Constellation project is located 60 km south of the present-day Athabasca Basin edge in an area of significant exploration activity for basement hosted uranium. Historic airborne radiometric, electromagnetic, and magnetic surveys identified electromagnetic conductors associated with magnetic lows. The 4,413 ha Sharpe Lake project, located in the Red Lake Mining District of Northern Ontario, hosts peraluminous S-type muscovite bearing pegmatite bearing granites in contact with metasediments. Preliminary sampling has highlighted anomalous rare-element values, potentially indicative of lithium mineralization.
For more information, please contact:
Saf Dhillon, President & Chief Executive Officer
E-mail: saf@bayridgeresources.com
Tel: 604-484-3031
Forward-looking information
Certain statements in this news release are forward-looking statements, which reflect the expectations of management, including in regard to the Company's exploration and drill campaign plans at Constellation, enhanced magnetic and electromagnetic anomalies at Constellation, undertaking drilling at Constellation without additional financing or dilution and potential uranium and lithium discovery for the Company's projects. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.
The CSE has not reviewed, approved, or disapproved the contents of this press release.
1 The Company cautions that similar results on its Constellation Project are not implied.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238812
FAQ
What drilling capacity does BYRRF's new Level 2 Exploration Permit allow at Constellation?
How many radiometric anomalies were identified in BYRRF's Phase I exploration at Constellation?
What is the size and location of BYRRF's Constellation uranium project?
What percentage interest can BYRRF earn in the Constellation project?
What stock options did BYRRF recently grant and at what price?
