Trench Metals Corp. Plans Work on Higginson Lake Uranium Project
Vancouver, November 7th, 2021 - Trench Metals Corp. (the "Company") (TSXV:TMC) (FWB:33H2) has initiated a preliminary work program on it's Higginson Lake Uranium Project, in Athabasca, Saskatchewan. As reported, (Press Release October 18, 2021) the Higginson Project covers an area of approximately 2312 hectares and is 52 kilometers northeast of the town of Stony Rapids, which is accessible by Highway 905 and 964. The Higginson Lake Uranium Project host two historic (*) drill indicated reserves, totaling 4,800,000 lbs of U308. -
- Due diligence and research completed by the Company's geologists have indicated that the Higginson property is remarkably underexplored relative to other parts of the Athabasca Basin. In 1948 the Niso uranium deposit was discovered, located 35 kilometers South-South-West of the Higginson property. Saskatchewan's first uranium mine, the Nicholson mine started production in 1949 and a uranium boom resulted, fueled by the urgency of the Cold War. A rush in the early 1950's led to the discoveries of numerous uranium prospects and occurrences in the area trending North-North-East from Black Lake for 30 kilometers, known as the Charlebois- Higginson Lake Uranium District.
- Exploration activity on the Higginson property was conducted from 1950 to 1956, by various companies (Palmor Industries, Dee Exploration, Anglo Barrington Mines Ltd.) comprising radiometric prospecting, geological mapping, trenching and shallow diamond drilling. The work is summarized in the SMDI data base, but no assessment files are available. The next phase of exploration was conducted from 1969 to 1976 by Fosago Explorations Ltd., whom completed airborne and ground radiometric surveys, geological mapping, trenching, and sampling over a portion of the current property. Since 1976 no assessment filings have been completed over the property and the activity is assumed to be largely dormant.
- Uranium mineralization at Higginson Lake is thought to be controlled by the Black Lake Fault, a northeast striking regional fault that transects the Athabasca Basin. Previous exploration at Higginson Lake has identified twelve historic showings. Significantly, the Corrigan Lake Showing, was explored by trenching and diamond drilling by Dee Exploration Ltd., which published in the Northern Miner (May 1956) a historical drill indicated reserve (*) of 2,000,000 tons grading greater than 0.1% U3O8, or 4,400,000 lbs U3O8. (Saskatchewan Mineral Deposit Index File 1656). In addition, Palmor Industries identified a drill indicated reserve (*) of 200,000 tons, averaging 2lbs/ton U3O8 at the Higginson Lake Showing, 550 m northwest of the Corrigan Lake Showing, this being an additional 400,000 lbs of U3O8. (Saskatchewan Mineral Deposit Index File 1744).
- The Corrigan Lake Showing represents a high priority exploration target for the Company. The Corrigan Lake showing is underlain by red granite gneisses in the north in contact with migmatites in the south. White pegmatite occurs along the contact and exhibits high radioactivity. A report by Kisimori et.al,(1) suggests that some occurrence of uranium mineralization in the Charlebois-Higginson Lake district can be classified as a possible "porphyry" uranium deposit, similar to deposits at Rossing in Namibia and Johan Beetz in Quebec. Rössing is a world-class granite-hosted uranium deposit located in the Central-West Namibia. Rössing's reserves at the end of 2018 were 23,810 tonnes Uranium, probable, at 0.033% U in ore and no resource figures were published (2). This deposit type represents a new exploration target on the Higginson Project.
* The historical mineral resource estimates presented above used categories that do not conform to current CIM Definition Standards on Mineral Resources and Mineral Reserves as outlined in National Instrument 43-101. A qualified person has not done sufficient work to classify any of the historical estimates as current mineral resources and as such the Company is treating them as historical resource estimates. Readers are cautioned that the historical mineral resource estimates do not mean or imply that economic deposits exist on the Project.
1. A Report to the Energy Research and Development Administration on Uranium Deposits in Granitic Rocks By Richard k. Kisimori, Paul C. Ragland, John J.W. Rogers, and Jeffrey K. Greenburg University of North Carolina at Chapel Hill, January 1977, Prepared For the Energy, Research and Development Administration, Grand Junction, Colorado 81501
2. https://world-nuclear.org/information-library/country-profiles/countries-g-n/namibia.aspx
The long drought of exploration (since 1976) activity on the Higginson Project allows for the application of new and improved geophysical and geochemical techniques that have been used successfully on other uranium properties. The Company is reviewing airborne magnetics and radiometric proposals. Airborne magnetic and electromagnetic surveys are not affected by snow cover and could be flown as early as January.
Dr. Peter Born, P.Geo., is the designated qualified person as defined by National Instrument 43-101 and is responsible for, and has approved, the technical information contained in this release.
About Trench Metals Corp
Trench Metals Corp. is a mineral exploration company. We create value for our shareholders by engaging in promising mineral exploration opportunities. Our main goal is the advancement of various projects from discovery all the way to production. This vertically integrated strategy allows Trench Metals to achieve exceptional shareholder value through the entire life-cycle of the mining process.
Trench Metals Corp. has the right to earn a 100% interest in the Gorilla Lake Uranium Project. Gorilla Lake is located in the Cluff Lake area of Saskatchewan's Athabasca Uranium district. The Athabasca District is home to the highest grade of uranium deposits in the world. It accounts for 18% of global uranium production. The Gorilla Lake Project comprises nearly 7000ha in the Northern Mining District of Saskatchewan near the Shea Creek uranium deposit.
For further information, contact the Company at info@trenchmetals.com, or visit the Company's website at www.trenchmetals.com.
On behalf of the Board,
Simon Cheng, Chief Executive Officer
Neither the 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.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the development of the Higginson Lake Uranium Project and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
