Foremost Clean Energy Announces Plans for Immediate Follow-Up Drill Program at Hatchet Uranium Project
Foremost Clean Energy (NASDAQ: FMST) has announced an 8-hole, 2,000-metre diamond drill program at its Hatchet Uranium Property in Saskatchewan's Athabasca Basin, scheduled to begin March 2025. The program follows promising 2024 drill results that revealed uranium mineralization at the Richardson trend, including intersections of 0.11% U3O8 over 0.2 metres.
The 2025 program will target 4-6 high-potential locations within the Tuning Fork target area and Richardson trend. Key findings from previous drilling include significant structural disruption and hydrothermal alteration, with elevated levels of pathfinder elements potentially indicating uranium-mineralizing systems.
The Hatchet property spans 10,211 hectares in the Athabasca Basin, featuring shallow unconformity depths of 0-250 meters. The project is part of Foremost's collaboration with Denison Mines, where Foremost can acquire up to 51% interest in the property.
Foremost Clean Energy (NASDAQ: FMST) ha annunciato un programma di perforazione a diamante di 8 fori e 2.000 metri presso il suo Hatchet Uranium Property nel bacino di Athabasca, in Saskatchewan, previsto per iniziare a marzo 2025. Il programma segue i promettenti risultati di perforazione del 2024 che hanno rivelato mineralizzazione di uranio nella tendenza Richardson, inclusi incroci di 0,11% di U3O8 su 0,2 metri.
Il programma del 2025 mirerà a 4-6 località ad alto potenziale nell'area obiettivo Tuning Fork e nella tendenza Richardson. I principali risultati delle perforazioni precedenti includono significative interruzioni strutturali e alterazioni idrotermali, con livelli elevati di elementi indicatori che potrebbero indicare sistemi di mineralizzazione dell'uranio.
La proprietà Hatchet si estende su 10.211 ettari nel bacino di Athabasca, con profondità di incongruenza superficiale di 0-250 metri. Il progetto fa parte della collaborazione di Foremost con Denison Mines, dove Foremost può acquisire fino al 51% di interesse nella proprietà.
Foremost Clean Energy (NASDAQ: FMST) ha anunciado un programa de perforación de diamante de 8 agujeros y 2,000 metros en su Hatchet Uranium Property en la cuenca de Athabasca, Saskatchewan, programado para comenzar en marzo de 2025. El programa sigue los prometedores resultados de perforación de 2024 que revelaron mineralización de uranio en la tendencia Richardson, incluyendo intersecciones de 0.11% U3O8 sobre 0.2 metros.
El programa de 2025 se centrará en 4-6 ubicaciones de alto potencial dentro del área objetivo Tuning Fork y la tendencia Richardson. Los hallazgos clave de perforaciones anteriores incluyen una significativa disrupción estructural y alteración hidrotermal, con niveles elevados de elementos indicadores que potencialmente indican sistemas de mineralización de uranio.
La propiedad Hatchet abarca 10,211 hectáreas en la cuenca de Athabasca, con profundidades de inconformidad de 0-250 metros. El proyecto es parte de la colaboración de Foremost con Denison Mines, donde Foremost puede adquirir hasta el 51% de interés en la propiedad.
Foremost Clean Energy (NASDAQ: FMST)는 2025년 3월에 시작될 예정인 사스카체완 아타바스카 분지의 Hatchet Uranium Property에서 2,000미터 깊이의 다이아몬드 시추 프로그램을 8개 홀로 발표했습니다. 이 프로그램은 리차드슨 트렌드에서 0.2미터에 걸쳐 0.11% U3O8의 교차점을 포함하여 우라늄 광물화를 밝혀낸 2024년의 유망한 시추 결과를 따릅니다.
2025년 프로그램은 튜닝 포크 목표 지역과 리차드슨 트렌드 내에서 4-6개의 높은 잠재력을 가진 위치를 목표로 할 것입니다. 이전 시추에서의 주요 발견은 중요한 구조적 파괴와 열수 변화를 포함하며, 높은 수준의 경로 요소가 우라늄 광물화 시스템을 나타낼 가능성이 있습니다.
Hatchet 소유지는 아타바스카 분지에서 10,211헥타르를 차지하고 있으며, 0-250미터의 얕은 불일치 깊이를 특징으로 합니다. 이 프로젝트는 Foremost가 해당 소유지에서 최대 51%의 지분을 취득할 수 있는 Denison Mines와의 협력의 일환입니다.
Foremost Clean Energy (NASDAQ: FMST) a annoncé un programme de forage diamant de 8 trous et 2 000 mètres sur son Hatchet Uranium Property dans le bassin d'Athabasca, en Saskatchewan, prévu pour commencer en mars 2025. Le programme fait suite à des résultats de forage prometteurs de 2024 qui ont révélé une minéralisation d'uranium dans la tendance Richardson, y compris des intersections de 0,11 % U3O8 sur 0,2 mètre.
Le programme de 2025 ciblera 4 à 6 emplacements à fort potentiel dans la zone cible de Tuning Fork et la tendance Richardson. Les principales conclusions des forages précédents incluent une perturbation structurelle significative et une altération hydrothermale, avec des niveaux élevés d'éléments indicateurs pouvant indiquer des systèmes de minéralisation d'uranium.
La propriété Hatchet s'étend sur 10 211 hectares dans le bassin d'Athabasca, avec des profondeurs d'incongruence superficielles de 0 à 250 mètres. Le projet fait partie de la collaboration de Foremost avec Denison Mines, où Foremost peut acquérir jusqu'à 51 % d'intérêt dans la propriété.
Foremost Clean Energy (NASDAQ: FMST) hat ein 8-Loch, 2.000 Meter umfassendes Diamantbohrprogramm in seinem Hatchet Uranium Property im Athabasca-Becken in Saskatchewan angekündigt, das im März 2025 beginnen soll. Das Programm folgt auf vielversprechende Bohrergebnisse aus 2024, die Uranmineralisierung im Richardson-Trend aufzeigten, einschließlich Schnittpunkten von 0,11% U3O8 über 0,2 Meter.
Das Programm 2025 wird 4-6 hochpotenzielle Standorte im Zielgebiet Tuning Fork und im Richardson-Trend ins Visier nehmen. Wichtige Ergebnisse aus vorherigen Bohrungen umfassen signifikante strukturelle Störungen und hydrothermale Veränderungen, wobei erhöhte Werte von Indikatorelementen möglicherweise auf Uranmineralisierungssysteme hinweisen.
Das Hatchet-Grundstück erstreckt sich über 10.211 Hektar im Athabasca-Becken und weist flache Unstimmigkeitstiefen von 0-250 Metern auf. Das Projekt ist Teil der Zusammenarbeit von Foremost mit Denison Mines, bei der Foremost bis zu 51% Interesse an dem Grundstück erwerben kann.
- Discovery of uranium mineralization with 0.11% U3O8 grade
- Fully funded and permitted 2025 drill program
- Strategic location in uranium-rich Athabasca Basin
- Option to acquire 51% interest in the property
- mineralization found so far (only 0.11% U3O8 over 0.2m)
- $50,000 marketing expense for investor awareness campaign
VANCOUVER, British Columbia, March 04, 2025 (GLOBE NEWSWIRE) -- Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (“Foremost” or the “Company”) is pleased to announce an 8-hole ~2,000-metre diamond drill program at the Hatchet Uranium Property (“Hatchet”), expected to commence later this month. Hatchet is located in the world-renowned Athabasca Basin of northern Saskatchewan and is a cornerstone project in Foremost’s unique collaboration with Denison Mines Corp. (“Denison”) (NYSE: DNN)(TSX: DML).
The results from the 2024 drill program, announced on February 20, 2024, highlighted the presence of uranium mineralization at the Richardson trend and favorable structure, alteration, and anomalous geochemistry along the Tuning Fork Conductor. With multiple high-potential targets identified in these areas, the 2025 drill program aims to expand known mineralization and test several areas prioritized for follow-up.
“We are excited to commence this next phase of exploration at Hatchet,” said Jason Barnard, CEO of Foremost Clean Energy. “Hatchet is already at a discovery-ready stage, with multiple high-priority targets identified and ready for follow-up. This is a key differentiator for Foremost, as the advanced stage of Hatchet reduces the risk and cost associated with early stage exploration that would otherwise be required to generate compelling targets. The results from our 2024 drill program highlight the presence of uranium mineralization and associated hydrothermal systems, and this upcoming program is designed to further evaluate these promising targets.”
“With significantly increasing global energy demands, nuclear power has become a leading choice amongst government and private power producers due to its unique mix of high reliability, reasonable cost, and low carbon footprint. Nuclear power plants use uranium to generate power and industry experts are predicting that new uranium discoveries and ultimately new mines are needed to meet growing demand while existing sources of supply are dwindling. With potentially unprecedented additional growth coming from the deployment of Small Modular Reactors (SMRs) and the adoption of nuclear power by global hyper-scalers like Meta, Amazon, Google and Microsoft, uranium demand could increase significantly. This narrative speaks to the importance of Foremost’s active exploration plans, which we look forward to providing updates on as the program progress.”
Drill Program Overview:
The 2025 Hatchet drill program is expected to target 4-6 high-potential locations within the Tuning Fork target area and along the Richardson trend. The program is expected to commence in March, and is fully funded and permitted.
Drill targets have been prioritized based on the following program objectives:
- Target those areas with confirmed uranium mineralization and coincident untested conductive anomalies identified through historical geophysical surveys.
- Conduct follow-up drilling to further evaluate anomalous geochemical signatures and structures highlighted from the 2024 drill results and historical data compilation.
- Evaluate under-tested conductive trends, several of which are estimated to have >600m of untested discovery potential.
2025 Drill Targets:
Drill targets on the Hatchet property are defined based on ground and airborne EM surveys, anomalous geochemistry, strong alteration, and structures identified from previous drilling, and surface geochemical methods (i.e. Radon). Ten priority target locations have been identified for drill testing: four along the Tuning Fork Conductor and six along the Richardson conductive trend.
Richardson Target Area:
- Drill Hole RL-24-29: Intersected
0.11% U3O8 (901 ppm U) over 0.2 metres from 81.2 to 81.4 metres, along with additional anomalous uranium mineralization below the unconformity, including:0.04% U3O8 (354 ppm U) from 81.4 to 81.9 metres.0.04% U3O8 (322 ppm U) from 78.3 to 78.6 metres.
- The Richardson Trend is situated northeast of the Laroque Conductive Corridor, which hosts multiple high-grade uranium deposits, including IsoEnergy’s Hurricane Deposit (48.6M lbs U3O8 at
34.5% U3O8 in Indicated Mineral Resources).
Tuning Fork Target Area:
- Drill Holes TF-24-11 and TF-24-12: Both holes intersected significant structural disruption and hydrothermal alteration, including intense clay alteration, hydrothermal hematite, and a shear zone with graphitic-pyritic faults.
- TF-24-12: Intersected semi-massive graphite from 200 to 211.5 metres, along with elevated levels of boron (up to 5,670 ppm), copper (up to 233 ppm), nickel (up to 387 ppm), and cobalt (up to 209 ppm)—pathfinder elements potentially indicative of a uranium-mineralizing system. (See Figure 2 below)
- Untested Conductors: The program will also target over 400 metres of untested conductor strike length in the Tuning Fork area. These conductors, identified through electromagnetic (EM) surveys, are interpreted to represent graphitic structures, often associated with uranium mineralization in the Athabasca Basin.
Figure 1. Drill Targets at Richardson - Hatchet Lake Uranium Property
Figure 2. Drill Targets at Tuning Fork – Hatchet Lake Uranium Property
Hatchet – A Strategic Asset
The Hatchet Uranium Property spans approximately 10, 211 hectares/25, 232 acres in the heart of the Athabasca Basin, which is one of the world's most prolific uranium producing regions — globally recognized to host some of the largest and highest-grade uranium deposits ever discovered. Hatchet’s location in the northeastern part of the basin, with shallow unconformity depths ranging from 0 to 250 meters and proximity to existing infrastructure, makes it an attractive property for exploration. Historical exploration, dating back to the 1960’s, has identified radioactive boulders, conductive anomalies, and hydrothermal alteration, and both historical and recent drilling have confirmed the presence of uranium mineralization, structural controls, and hydrothermal alteration— all being key indicators of a uranium deposit.
In 2024, Foremost completed the first stage of an option agreement with Denison whereby it can acquire a portion of Denison’s interest in the Hatchet Lake Joint Venture to a maximum
Additional Developments
To enhance market awareness and generate investor interest, the Company has engaged LFG Equities Corp. ("LFG") to execute a comprehensive marketing campaign over an initial two-month period commencing March 4, 2025 for total investment of
LFG is expected to broaden Foremost’s reach, attract new investors, and ultimately increase the Company’s visbility by effectively communicating the Company's unique value proposition and future catalysts to a wider audience. LFG is located at 402-9140 Leslie Street, Richmond Hill, Ontario (phone: (514) 577-0929, email: ernest@lfgequities.com). Its directors and officers, maintain an arm’s length relationship with the Company and currently hold no direct or indirect ownership interest in the Company or its securities.
Qualified Person:
Technical information in this news release regarding Hatchet has been reviewed and approved by Jody Dahrouge, P.Geo. of Dahrouge Geological Consulting Ltd. and Foremost’s chief technical advisor, who is a Qualified Person as identified by Canadian National Instrument 43-101-Standards of Disclosure for Mineral Projects.
About Foremost
Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (WKN: A3DCC8) is a rapidly growing North American uranium and lithium exploration company. The Company holds an option to earn up to a
Foremost also has a portfolio of lithium projects at varying stages of development, which are located across 55,000+ acres in Manitoba and Quebec. For further information, please visit the Company’s website at www.foremostcleanenergy.com.
Contact and Information
Company
Jason Barnard, President and CEO
+1 (604) 330-8067
info@foremostcleanenergy.com
Follow us or contact us on social media:
X: @fmstcleanenergy
LinkedIn: https://www.linkedin.com/company/foremostcleanenergy
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Forward-Looking Statements
Except for the statements of historical fact contained herein, the information presented in this news release and oral statements made from time to time by representatives of the Company are or may constitute “forward-looking statements” as such term is used in applicable United States and Canadian laws and including, without limitation, within the meaning of the Private Securities Litigation Reform Act of 1995, for which the Company claims the protection of the safe harbor for forward-looking statements. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect,” “is expected,” “anticipates” or “does not anticipate,” “plans,” “estimates” or “intends,” or stating that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, continuity of agreements with third parties and satisfaction of the conditions to the option agreement with Denison, risks and uncertainties associated with the environment, delays in obtaining governmental approvals, permits or financing. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities. and information. Please refer to the Company’s most recent filings under its profile at on Sedar+ at www.sedarplus.ca and on Edgar at www.sec.gov for further information respecting the risks affecting the Company and its business.
The CSE has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9886b2bd-aa0e-4ea0-86e8-8c455f2e7cf5
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FAQ
What uranium grades did FMST discover in their 2024 Hatchet drilling program?
How many drill holes is FMST planning for their March 2025 Hatchet program?
What is the size of FMST's Hatchet Uranium Property in the Athabasca Basin?
What ownership stake can FMST acquire in the Hatchet project from Denison Mines?
