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Highlights
- Foremost Clean Energy announces strong uranium results from Richardson and Tuning Fork target areas.
- Drill program confirms promising mineralization and pathfinder elements for future exploration.
- The Hatchet Lake property shows great potential for high-grade uranium discovery in Athabasca Basin.
Foremost Clean Energy Ltd. (CSE: FAT) has reported highly promising results from its 2024 drill program at the Hatchet Lake Uranium Property ("Hatchet") in northern Saskatchewan. The property is located in the renowned Athabasca Basin, a globally recognized region for uranium exploration and production. These recent geochemical assay results from drill cores have highlighted the substantial prospectivity of two key mineralized target areas: Richardson and Tuning Fork.
The Hatchet Lake property is one of Foremost’s flagship assets, and its significance is magnified by the company’s unique position in the uranium sector. The company is building upon previous exploration efforts by Denison Mines, which has worked on the property for several years. Foremost is now poised to accelerate its exploration and development activities at Hatchet, with these recent results paving the way for additional follow-up drilling in the coming months.
Richardson Target Area – Encouraging Uranium Intercepts
One of the most notable findings from the 2024 drill program comes from the Richardson target area, where drill hole RL-24-29 encountered significant uranium mineralization. The drill core returned the following assays, which have strong potential for further resource evaluation:
- 0.11% U3O8 (901 ppm U) from 81.2 to 81.4 metres
- 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
These results demonstrate the high-grade uranium potential of the Richardson zone, particularly in terms of uranium concentration and mineralization depth. They also confirm the presence of uranium beneath the unconformity, which is a critical geological feature in the region.
Tuning Fork Target Area – Structural Disruption and Pathfinding Elements
At the Tuning Fork target area, Foremost Clean Energy encountered even more encouraging signs of uranium potential. Two drill holes (TF-24-11 and TF-24-12) returned anomalous uranium assays, alongside elevated levels of key pathfinder elements, which are often indicative of uranium mineralization in the Athabasca Basin. The pathfinder elements include boron (up to 5,670 ppm), copper (up to 233 ppm), nickel (up to 387 ppm), and cobalt (up to 209 ppm). These elements suggest the presence of a hydrothermal system capable of depositing uranium.
The drill cores from Tuning Fork also showed evidence of significant structural disruption, including clay alteration, hydrothermal hematite, and shear zones with graphitic-pyritic faults. These geological features are frequently associated with high-grade uranium deposits in the Athabasca Basin, further strengthening the case for Tuning Fork as a key area for further exploration.
Looking Ahead: Future Drilling Programs and Expansion
CEO Jason Barnard expressed his enthusiasm about the results, noting that discovering high-grade uranium deposits in the Athabasca Basin is no easy feat due to the generally small footprint of uranium deposits in the region. He highlighted the advantage of Foremost’s position, noting the company’s ability to report multiple mineralized intercepts and rapidly advance exploration on the well-located Hatchet property.
As the company moves forward, plans for additional drill programs are already underway. These programs are expected to include winter and summer drilling campaigns, which will keep the market and shareholders updated with a strong news flow.
