Senator Minerals Inc. Announces Intention to Drill Patterson Northeast Uranium Project
VANCOUVER, Jan. 05, 2018 - Senator Minerals Inc. (TSX-V:SNR) (OTC:SNRAF) (Frankfurt:T1KA) (“Senator” or the “Company”) is pleased to announce that the Company intends to complete a ten-hole 6500m diamond drill program at its Patterson Northeast Uranium Project (the “PNE Project”) to test for subsurface uranium. The primary target, the A-Zone, was identified through the interpretation of geophysical (D.C. resistivity survey) and geochemical datasets. The A-Zone is interpreted as a structural break in the sandstone layer, striking at roughly 60 degrees to the primary north-south conductor, and is associated with the most anomalous radon gas levels encountered in the 2017 sampling program. The depth to the basement at the A-Zone is approximately 450m and drill holes are planned to extend to at least 150m past the unconformity and into the bedrock. Completion of this drilling program is subject to financing.
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A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/8964dfae-008d-4252-8a94-6a8f70a53a9e
Background
The PNE Project is located on the prolific east side of the Athabasca Basin, northern Saskatchewan, the most productive uranium producing region in the world. The project covers approximately 531 hectares, directly adjoining the easternmost boundary of Fission 3.0’s Patterson Lake North Project. Basement depths are considered shallow, 450-550m, similar to those at the McArthur River Mine. The PNE Project was last explored in 2013 with an Alpha-Track Radon Cup Survey and in June 2014 with a 5.7-line kilometer DC Resistivity Survey, the latter performed by Patterson Geophysics. In 2017, the Company completed a focused Alpha-Track Radon Cup Survey, consisting of 184 sensors.
In 2014, a 5.7 line-kilometers of pole-dipole and pseudo pole-pole array D.C. Resistivity survey coverage were completed on a single grid. The geophysical program was initiated by Zadar Ventures as an extension of the North Grid survey area belonging to Fission 3.0 Corp. (Fission), as part of Fission’s Patterson Lake North project. As a result of the data-sharing agreement reached between Zadar and Fission, an additional 17.145 line-kilometers of survey coverage on Fission’s North Grid survey was extended onto the PNE mineral dispositions. The survey was successful in identifying a series of north-south trending conductors, covering approximately 5-6km in the sandstone layer that grow shallower to the east, and which form the primary exploration target.
In 2017, the Company completed radon gas surveys at both its Carter Lake and PNE Projects. A total of 158 sensors from the Carter Lake project and 184 from the PNE Project were evaluated by Alpha Track Labs of Vancouver, British Columbia. At both projects, sensors were deployed in arrays covering large extents of subsurface conductive anomalies, identified through geophysical interpretations. The investigation of subsurface conductive zones that correlate strongly with structural breaks is the gold standard for uranium exploration in the Athabasca. The results, which ranged from a high of 29 T/mm2 to a low of <1 T/mm2, strongly correlated with faulting in the subsurface sandstones and with EM conductors interpreted through both ground and airborne geophysics. This strong correlation suggests that the radon gas emissions at Carter Lake and the PNE Projects are likely the result of subsurface radioactive sources and suggest that both the Carter Lake and PNE target zones host anomalous concentrations of uranium.
Access to the PNE Project, which is located approximately 163 kilometers north of the town of La Loche, and approximately 48 kilometers south of the decommissioned Cluff Lake mine site, is excellent. The project is accessible by ground vehicle from La Ronge via Saskatchewan Highways 2, 155, 165, and 955. The area may be accessed year-round along the gravel Cluff Lake Mine Road (Saskatchewan Highway 955) which runs just to the west of the project. Several trails provide additional access to the central portion of the project.
Dr. Peter Born, P.Geo., a Qualified Person, has reviewed and approved the disclosure of technical information within this news release.
For further information contact Tim Fernback at 604-340-3774.
Tim Fernback
President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this release that are forward-looking information are subject to various risks and uncertainties concerning the specific factors disclosed here. Information provided in this document is necessarily summarized and may not contain all available material information. All such forward-looking information and statements are based on certain assumptions and analyses made by management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading “Risks Factors” in the Company’s most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information or statements.
