Meta Critical Minerals Inc. press release
Fieldex starts drilling on Lac Sairs uranium property in Quebec
CSE - Canadian National Stock Exchange ยท Canada
ROUYN-NORANDA, QC, May 16 /CNW Telbec/ - Fieldex Exploration Inc. (FLX: TSXV and F7E: Frankfurt) has commenced a drilling program on the company's Lac Sairs uranium property located 100 kilometers northeast of North Bay (Ontario) within northwestern Quebec near the Quebec-Ontario border. The property comprises 17 claim blocks with a total area of approximately 1,000 hectares or 10 square-kilometer.
The company intends to drill 9-holes, totaling 2,100 m as a first phase to increase the potential of historical uranium zone located in south-central Lac Sairs property. This uranium zone, which has yielded up to 10 pounds per ton of U3O8, was drill delineated in 1978-79 by partners Valdez Resources Industries and Nuspar Resources.
About the Lac Sairs uranium property
The property occurs within the Kipawa basin in Proterozoic Grenville Province. The basin comprised of metamorphosed and folded sedimentary sequences that have been intruded by composite intrusive bodies. The most important intrusive rocks on the property an alkaline intrusive complex, which is also folded along with the sedimentary host rock. The uranium mineralization occurs both along this intrusive-sedimentary contact and within the sedimentary rocks away from the contact. The Lac Sairs project was initiated based on one of several possible geological concepts, the most attractive one being the Kipawa basin potentially hosting the unconformity-type deposits similar to those in the prolific Athabasca basin in western Canada. The unconformity-related deposit types, for example, Cigar Lake, McArthur River, Eagle Point and McClean Lake, constitute approximately 33% of the world's uranium resources and include some of the largest and richest deposits. These deposits form from geological changes occurring close to major unconformities. Below the unconformity, the sedimentary rocks hosting the mineralization are usually faulted and/or brecciated.
Qualified Person
Ike Osmani, M.Sc., P.Geo. who is the qualified person as defined by National Instrument 43-101, has prepared the technical part of this press release.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Forward-looking Statements
This news release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond the ability of Fieldex to control or predict, which could cause actual events or results to differ materially from those anticipated in such forward-looking statements, including risks disclosed in filings with the Canadian securities regulators made by Fieldex. Accordingly, readers should not place undue reliance on forward-looking statements.
%SEDAR: 00008738E