Medaro Mining Completes an Airborne Geophysical Survey at Yurchison Uranium Property in Athabasca Basin, Saskatchewan
VANCOUVER, April 04, 2022 - Medaro Mining Corp. (CSE: MEDA) (OTC: MEDAF) (FWB: 1ZY) ("Medaro" or the "Company"), a multi-faceted mineral explorer and joint venture (JV) partner with Global Lithium Extraction Technologies Inc., is pleased to announce that it has completed an airborne geophysical survey at its Yurchison Uranium Property in Athabasca Basin, Northern Saskatchewan. The Company contracted Geodata Solutions GDS Inc. of Laval, Quebec to complete a high-resolution helicopter-borne magnetic survey on mining claim MC00011054 of the Yurchison Property. A total of 1,424 line kilometers of survey was completed at 50 m line spacing using an AS 350 BA + helicopter (see Table 1 below for details). The mining claim MC00011054 is located in the middle of the Yurchison Property.A chart accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7bdb3e1b-4df7-4d25-92ac-77d7d269e282
A Helicopter Versatile Time Domain ElectroMagnetic (VTEM) geophysics survey was flown by Geotech Ltd. on behalf of JNR Resources on the Yurchison Property in October 2006 and identified ten Zones of Interest based on the electromagnetic (EM) conductors and the total field magnetic response (Figure 1) (assessment report 74H08-0041). Zones of Interest are areas with potential to host uranium mineralization based on their geophysical signature. This historic survey was flown at 200 m line spacing, so Medaro decided to fly the current survey at 50 m line spacing to obtain more detailed resolution on the anomalies. The EM conductors, shown as red dotted lines on Figure 1, are along a SW-NE trend parallel to the rock unit boundaries and a major fault (Needle Falls Shear Zone). The magnetic geophysics survey will provide structural information especially the location of the N-S trending Tabbernor faults (black dashed lines on Figure 1). The intersection of the major fault and the Tabbernor faults and the graphitic metasedimentary rocks are exploration targets for uranium mineralization. The Zones of Interest also correspond to the contact between two different rock units (Figure 1).
The 2006 VTEM survey was followed up with a 2008 drill program by JNR Resources with drill highlights on claim MC00011054 including (Figure 1) (assessment report 64E05-0034):
- 82 ppm U from 11.5-12.5 m (1.0 m interval) in drill hole YL-08-111 in granitic pegmatite
- 240 ppm U, 3750 ppm Mo from 22.5-23.0 m (0.5 m interval) in drill hole YL-08-112 in granitic pegmatite
- 84.4 ppm U from 57.0-57.5 m (0.5 m interval) in drill hole YL-08-114 in graphitic carbonate breccia.
The combination of the exploration pathfinders: the intersection of N-S Tabbernor faults and SW-NE major fault, rock unit boundaries, EM conductors and uranium anomalies intersected by drill holes (well above background levels) makes claim MC00011054 an exciting exploration target on the Yurchison Property and Medaro Mining is looking forward to examining the results of our March 2022 helicopter-borne magnetic survey. The survey data is being processed and results will be released as soon as available.
A graphic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a455cc61-078a-4b25-9766-517be584c557
The survey crew was based at KM147 Lamp Lighters lodge, Saskatchewan, located about 15 kilometres to the south of the Yurchison Property. The area was flown following a pre-defined 3D flight surface having a rate of climb/descent of 20% and a minimum ground clearance of 35 metres over the survey area. Altitude was ultimately controlled at the discretion of the helicopter pilot with safety held in priority consideration.
Medaro Mining CEO Michael Mulberry states, "We are excited to get the spring exploration season started. The results from this airborne study will provide additional targets for our ground exploration crew slated to start at Yurchison June 1st. Additionally I would like to announce that we have entered into a consulting process facilitated by the Ya'Thi Nene Land and Resource Office. This gives us direct access to consult with leadership and residents of the Athabasca Basin, or locally known as Nuhnene."
Qualified Person
Afzaal Pirzada, P.Geo., a "Qualified Person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
On Behalf of the Board of Directors
Michael Mulberry
CEO & Director
Contact Information
info@medaromining.com
604-602-0001
About the Company
Medaro Mining is a lithium exploration company based in Vancouver, BC. and holds options over the Superb Lake lithium property located in Thunder Bay, Ontario, the CYR South lithium property located in James Bay, Quebec and the Yurchison Uranium Property in Northern Saskatchewan. Medaro is a party to a joint venture agreement that engages the Company in the development and commercialization of a new process to extract lithium from spodumene concentrate, that aims to reduce environmental impact and cost to produce while increasing yields.
For more information, investors should review the Medaro's website at www.medaromining.com
Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the Program's composition and the timing thereof are "forward-looking statements." These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
