Sassy Commences Diamond Drilling at Highrock Uranium Project in Saskatchewan

Rhea-AI Summary

Sassy Resources Corporation has initiated diamond drilling at its Highrock Uranium Project in Saskatchewan's Athabasca Basin, following an option agreement with Forum Energy Metals. This project is strategically located near the Key Lake mine, which has produced over 200 million pounds of uranium. The drilling will explore mineralization similar to that of NexGen's Arrow deposit. Initial drilling targets are identified based on prior gravity surveys and historical drill results indicating elevated uranium and other indicator elements.

Positive

• Commencement of diamond drilling at Highrock Uranium Project.
• Strategic location near Key Lake mine with significant historical uranium production.
• Strong discovery potential indicated by gravity survey results.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / March 1, 2022 / Sassy Resources Corporation ("Sassy" or the "Company") (CSE:SASY)(FSE:4E7)(OTCQB:SSYRF) is pleased to announce that diamond drilling has commenced at the Highrock Uranium Project in the Key Lake region of Saskatchewan's Athabasca Basin. Sassy signed a staged option agreement with Forum Energy Metals ("Forum") in January 2022 under which Sassy may acquire up to a 100% interest in Highrock (refer to Sassy news releases February 10, January 24 and January 6, 2022).

Sassy is funding the 2022 diamond drill program while Forum is acting as project operator. The Highrock Uranium Project is located just south and on trend of Cameco's Key Lake mine and mill site where over 200 million pounds of uranium was produced at an average grade of 2.3% U₃O₈ during Key Lake's mine life. The 2022 exploration is focused on the discovery of basement hosted mineralization similar to NexGen's Arrow deposit and Cameco's Eagle Point mine.

Gravity surveys previously conducted by Forum at Highrock identified numerous gravity lows along a 10-kilometre-long graphitic conductor. These may be zones of alteration associated with uranium mineral deposits. Eight widely spaced drill holes by Forum in 2016 tested only six kilometres of the conductor while four kilometres at the southern end of the property remain untested as well as the strongest gravity low at the north end of the project. Zones of chloritization, bleaching, elevated boron and other pathfinder elements in the north and central areas of the conductor were detected by this initial drill campaign.

Mr. Mark Scott, Sassy Resources CEO, commented: "We're very excited to give Sassy shareholders exposure to the uranium sector and a project in the follow-up drilling stage that offers strong discovery potential. Highrock also provides a seasonal complement to Sassy's Foremore Gold-Silver Project in Northwest B.C.'s prolific Eskay Camp.

Mr. Mark Scott continued, "The release of 2021 diamond drilling results from the Company's Westmore Discovery Zone at Foremore is imminent. Meanwhile, the public listing of spinout Gander Gold Corporation, with its eight highly prospective exploration projects in the Central Newfoundland Gold Belt, is expected in March while MAX Power Mining Corporation, to which Sassy optioned its Nicobat claims in Northwestern Ontario, started trading on the CSE February 16. The Sassy shareholder value proposition is stronger than ever and we are very pleased with the manner in which we have positioned the Company for exploration success, year-round news flow, financial strength and market capitalization growth."

2022 Highrock Drill Program

Initial drilling will focus on the North target immediately south of Cameco's Key Lake mine claim boundary. Only one drill hole in 2016 (DDH HR-08) tested the south end of a very strong gravity low where the main conductor trends to the northeast. Weak alteration along a strong conductor was encountered in this hole, plus elevated uranium (8 ppm), vanadium (442 ppm), copper (421ppm), nickel (125 ppm), lead (46 ppm) and boron (116 ppm). Over one kilometre of this conductive trend and gravity anomaly to the northeast will be drilled (Figure 2).

Targets have also been identified in the central and south areas of the property from DDH HR-06 to HR-07 and continuing four kilometres further to the southwest border of the property. Drill target selection will be refined as the program progresses until spring breakup or until the $1 million budget is spent under terms of the Sassy option agreement.

Figure 1: Highrock Project Location Map. The Highrock Project is located just south of the Key Lake uranium deposit along the graphitic conductive trend that hosts Key Lake.

Figure 2: Gravity Survey, Historic Drill Hole Locations and Conductor on the Highrock Project. Gravity lows are shown in blue, the EM conductor is in red. The first target area is the combination of the conductor and strong gravity low (north of HR-08) at the north end of the property, bordering Cameco's Key Lake mine project.

Qualified Person

The technical information in this news release has been reviewed and approved by Mr. Ian Fraser, P.Geo., Vice President of Exploration for Sassy Resources. Mr. Fraser is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.

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About Sassy Resources Corporation

Sassy Resources is an exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade precious metal, base metal and uranium projects in North America. Its focus is the Foremore Project located in the Eskay Camp, Liard Mining Division, in the heart of Northwest B.C.'s prolific Golden Triangle, the Central Newfoundland Gold Belt where Sassy is one of the district's largest landowners, and the recently acquired Highrock Uranium Project in the Key Lake region of Saskatchewan's Athabasca Basin.

Caution Regarding Forward Looking Statements

Investors are cautioned that, except for statements of historical fact, certain information contained in this document includes "forward looking information", with respect to a performance expectation for Sassy Resources Corporation. Such forward looking statements are based on current expectations, estimates and projections formulated using assumptions believed to be reasonable and involving a number of risks and uncertainties which could cause actual results to differ materially from those anticipated. Such factors include, without limitation, fluctuations in foreign exchange markets, the price of commodities in both the cash market and futures market, changes in legislation, taxation, controls and regulation of national and local governments and political and economic developments in Canada and other countries where Sassy carries out or may carry out business in the future, the availability of future business opportunities and the ability to successfully integrate acquisitions or operational difficulties related to technical activities of mining and reclamation, the speculative nature of exploration and development of mineral deposits, including risks obtaining necessary licenses and permits, reducing the quantity or grade of reserves, adverse changes in credit ratings, and the challenge of title. The Company does not undertake an obligation to update publicly or revise forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Some of the results reported are historical and may not have been verified by the Company.

Contact Info:

Mark Scott
Chief Executive Officer & Director
info@sassyresources.ca

Terry Bramhall
Sassy Resources - Corporate Communications/IR
1.604.833.6999 (mobile)
1.604.675.9985 (office)
terry.bramhall@sassyresources.ca

In Europe:
Michael Adams
Managing Director - Star Finance GmbH
info@star-finance.eu

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Sassy Resources Corporation

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https://www.accesswire.com/690782/Sassy-Commences-Diamond-Drilling-at-Highrock-Uranium-Project-in-Saskatchewan

FAQ

What is the significance of Sassy Resources starting drilling at the Highrock Uranium Project?

The drilling at Highrock aims to explore areas with strong potential for uranium mineralization, enhancing Sassy's position in the uranium sector.

What does the Highrock Uranium Project's drilling entail for SSYRF investors?

Investors may see increased value as drilling progresses, especially if significant uranium deposits are discovered.

When did Sassy Resources commence drilling at the Highrock Uranium Project?

Sassy began diamond drilling at the Highrock Uranium Project on March 1, 2022.

How does the Highrock Uranium Project relate to Cameco's Key Lake mine?

Highrock is located just south of Cameco's Key Lake mine, which has historically produced significant amounts of uranium, indicating potential for similar deposits.

What are the results from the previous exploration efforts at Highrock?

Previous gravity surveys indicated several gravity lows that may correlate with uranium deposits, and initial drilling in 2016 encountered elevated uranium levels.