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Base Metals Energy

NEXGEN Announces Appointment of Brad Wall, the Former Premier of Saskatchewan, to its Board of Directors

 

VANCOUVER , March 21, 2019 /CNW/ – NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX:NXE, NYSE MKT:NXE) is pleased to announce the appointment of former Saskatchewan Premier Mr. Brad Wall to the Company’s Board of Directors. This appointment coincides with the retirement from the NexGen Board of Craig Parry , Chief Executive Officer of IsoEnergy and founding member of the Board of Directors at NexGen, who is moving onto the Technical Advisory Committee.

Leigh Curyer, Chief Executive Officer, commented: “On behalf of the Executive and Board of NexGen we are very pleased to welcome Mr. Brad Wall . Mr. Wall brings to NexGen extensive national energy policy, political and economic experience and has demonstrated a very strong commitment, results and advocacy in the best interests of Saskatchewan and Canada over his entire career. Mr Wall in his capacity as a director to NexGen is joining a team dedicated to developing a Canadian energy project that will deliver significant generational benefits to Saskatchewan and Canada and set new standards in responsible project development.

I would also like to take the opportunity to thank Craig Parry , one of our founding Directors, for his dedication and support during his tenure as a director. In his capacity as Chief Executive Officer of IsoEnergy, which recently made a significant uranium discovery, we look forward to Craig’s continued valuable contribution to the group as he primarily focuses his efforts on the exciting Hurricane Zone with NexGen being a significant long-term shareholder.”

Brad Wall

As the 14th Premier of Saskatchewan , Mr. Wall brings to NexGen’s Board political experience spanning over a 20 year period. During his tenure as Premier, Mr. Wall led the province to unprecedented economic expansion, strong population and export growth, record infrastructure investment and the first ever and continuing AAA credit for the Province’s finances.  Mr. Wall worked successfully with the previous federal government to achieve nuclear cooperation agreements between Canada and both India and China opening up those civilian nuclear energy markets to Canadian uranium.  He is an advocate for sustainable, inclusive economic development and provides strategic insight to the energy sector.

About NexGen

NexGen is a British Columbia corporation with a focus on the acquisition, exploration and development of Canadian uranium projects. NexGen has a highly experienced team of uranium industry professionals with a successful track record in the discovery of uranium deposits and in developing projects through discovery to production. NexGen owns a 100% interest in Rook I, location of the Arrow Deposit in the Athabasca Basin, Saskatchewan, Canada and a portfolio of prospective uranium exploration projects throughout northwest Saskatchewan . NexGen is the recipient of the PDAC’s 2018 Bill Dennis Award and the 2019 Environmental and Social Responsibility Award.

Technical Disclosure

The technical information in this news release with respect to the PFS has been reviewed and approved by Paul O’Hara , P.Eng. of Wood., David Robson , P.Eng., M.B.A., and Jason Cox , P.Eng. of RPA, each of whom is a “qualified person” under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI-43-101“).

The Mineral Resource Estimate was completed by Mr. Mark Mathisen , C.P.G., Senior Geologist at RPA and Mr. David Ross , P.Geo., Director of Resource Estimation and Principal Geologist at RPA.  Both are independent Qualified Persons in accordance with the requirements of National Instrument (NI) 43-101 and they have approved the disclosure herein. All other technical information in this news release has been approved by Mr. Troy Boisjoli , Geoscientist Licensee, Vice President – Operations & Project Development for NexGen.  Mr. Boisjoli is a qualified person for the purposes of NI 43-101 and has verified the sampling, analytical, and test data underlying the information or opinions contained herein by reviewing original data certificates and monitoring all of the data collection protocols.  All other technical information in this news release has been approved by Mr. James Hatley , a Professional Engineer, Senior Vice-President – Project Development for NexGen.  Mr. Hatley is a qualified person for the purposes of NI 43-101 and has reviewed the underlying the information or opinions contained herein on mine design.

A technical report in respect to the PFS is filed on SEDAR (www.sedar.com) and EDGAR (www.sec.gov/edgar.shtml) and is available for review on NexGen Energy’s website (www.nexgenenergy.ca).

SEC Standards

Estimates of mineralization and other technical information included or referenced in this news release have been prepared in accordance with NI 43-101. The definitions of proven and probable mineral reserves used in NI 43-101 differ from the definitions in SEC Industry Guide 7. Under SEC Industry Guide 7 standards, a “final” or “bankable” feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority. As a result, the reserves reported by the Company in accordance with NI 43-101 may not qualify as “reserves” under SEC standards. In addition, the terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under SEC Industry Guide 7 and normally are not permitted to be used in reports and registration statements filed with the SEC. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. “Inferred mineral resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Additionally, disclosure of “contained pounds” in a resource is permitted disclosure under Canadian securities laws; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in place tonnage and grade without reference to unit measurements. Accordingly, information contained or referenced in this news release containing descriptions of the Company’s mineral deposits may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of United States federal securities laws and the rules and regulations thereunder.

Technical Information

For details of the Rook I Project including the quality assurance program and quality control measures applied and key assumptions, parameters and methods used to estimate the Mineral Resource please refer to the technical report entitled “Arrow Deposit, Rook I Project Saskatchewan NI 43-101 Technical Report on Pre-feasbility Study” dated effective 5 November, 2018 (the “Rook 1 Technical Report”) prepared by Paul O’Hara , P.Eng., Jason J. Cox , P.Eng., David M. Robson , P.Eng., M.B.A., Mark B. Mathisen , C.P.G. each of whom is a “qualified person” under NI 43-101. The Rook I Technical Report is available for review under the Company’s profile on SEDAR at www.sedar.com and EDGAR (www.sec.gov/edgar.shtml) providing details of the Rook I Project including the quality assurance program and quality control measures applied and key assumptions, parameters and methods used to estimate the Mineral Resource and is available on NexGen Energy’s website (www.nexgenenergy.ca).

Forward-Looking Information

The information contained herein contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.

Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about NexGen’s business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including among others, that the proposed transaction will be completed, the results of planned exploration activities are as anticipated, the price of uranium, the cost of planned exploration activities, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct NexGen’s planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward looking information or making forward looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of NexGen to differ materially from any projections of results, performances and achievements of NexGen expressed or implied by such forward-looking information or statements, including, among others, negative operating cash flow and dependence on third party financing, uncertainty of the availability of additional financing, the risk that pending assay results will not confirm previously announced preliminary results, imprecision of mineral resource estimates, the appeal of alternate sources of energy and sustained low uranium prices, aboriginal title and consultation issues, exploration risks, reliance upon key management and other personnel, deficiencies in the Company’s title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and licenses, changes in laws, regulations and policy, competition for resources and financing, and other factors discussed or referred to in the Company’s Annual Information Form dated March 2, 2018 under “Risk Factors”.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.

There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

Categories
Junior Mining

MILES FRANKLIN As March 29th Approaches Central Banks Around the World Are Buying Gold – WHY?

 

David’s Commentary (In Blue)
I am on vacation this week and most of next week. I will be publishing my column just once this week and, only on Wednesday next week. I plan to be back to twice a week in April.
China just printed a trillion new dollars – in one month. Japan has kept their economy afloat for years with money creation – they buy a majority of their debt (bonds) every year, and stocks too. The Fed does whatever it has to keep the economy going, starting with their low interest rate policy. I’ll get back to this point shortly.
But first, Jim Sinclair pointed out how unrealistic it is to expect fiat paper to continue to be a store of value in the future. This is a charade that must come to an end. Of course the sixty-four-thousand-dollar question is “when?”
A friend of mine is my personal banker. A while ago I told him I wanted a six-figure line of credit. I didn’t have a need for it, but I thought it would be nice to have, just in case. He said the bank needed collateral so I decided to use some of my gold as backing for the line of credit. To my surprise, he would only allow me 60% of the value of the gold. I didn’t mind that the gold would be stored in the bank’s vault but it rubbed me the wrong way that the bank regulators did not allow banks to use gold as collateral at market value.
According to the Basil III Standards, gold is not as good as cash or government bonds.Isn’t that ridiculous. However, that’s about to change in April.
The BIS ruling states that Central banks and commercial banks will necessarily value their “financial” and real gold at market price.
The reason the Fed values its gold on its asset side at only $42 per ounce is because the gold is valued at book value by the Treasury, and the Fed’s gold is actually only gold certificates valued at no more than the statutory price of their issuance in 1934 which matches the book value of the Treasury gold. Will the Treasury revalue its physical gold at FRBNY and Fort Knox? Will the Treasury allow the Fed’s gold certificates to be valued at market? What are the implications if they don’t? Will they be forced to “audit” their physical gold holdings, that many believe are no longer there? This should be interesting. But finally, gold will be able to be used as collateral at market value.
Jay Taylor: Under “Basel III” Rules, Gold Becomes Money!
March 17, 2019
Excepted from Jay Taylor’s latest newsletter,
This also raises the question with regard to how much gold the U.S. actually holds as opposed to what it claims to hold. James Sinclair has always argued that the only way the world can overcome the debt that is strangling the global economy is to remonetize gold on the balance sheets of central banks at a price in many thousands of dollars higher. This would mean a major change in the global monetary system away from the dollar, as China has been pushing for the last decade or so.
If banks own and possess gold bullion, they can use that asset as equity and thus this will enable them to print more money. It may be no coincidence that as March 29th has been approaching banks around the world have been buying huge amounts of physical gold and taking delivery. For the first time in 50 years, central banks bought over 640 tons of gold bars last year, almost twice as much as in 2017 and the highest level raised since 1971, when President Nixon closed the gold window and forced the world onto a floating rate currency system.
It seems quite clear that someone or some group of individuals are motivated to cap the price of gold. Profit is a motive. In JPMorgan’s case, they have made billions by shorting gold and silver. The US Treasury and the Fed love to see cheap gold. A rising gold price usually is accompanied by rising interest rates and that is not in their best interest. But here is another reason, and it is tied to the new Basel 3 gold revisions.
Financial analysis published two weeks ago by a major Italian newspaper, Il Sole / 24 Ore (The Sun / 24 Hours), asserted frankly that central banks have been using gold futures and derivatives to suppress the monetary metal’s price so they can obtain more of the metal less expensively in advance of its remonetization under new rules promulgated by the Bank for International Settlements to take effect March 29.
Of course the new BIS rules, the “Basel 3” standards, declaring gold in the vault to be a superior asset, equivalent to cash and government bonds, are not news. What’s news here is that a mainstream financial news organization has nailed the deception and intrigue of central banks and accused them of rigging the international gold market.
Il Sole/24 Ore may be the first mainstream financial news organization to suggest that central banks are rigging the market so they might obtain more gold in anticipation of remonetizing it and pushing its price up, but the newspaper isn’t the first to reach this conclusion. The U.S. economists and fund managers Paul Brodsky and Lee Quaintance hypothesized as much in a study published in 2012 and called to your attention by GATA.
[Excepted from Jay Taylor’s latest newsletter]
In 2018, central banks added nearly 23 million ounces of gold, up 74% from 2017. This is the highest annual purchase rate increase since 1971, and the second-highest rate in history. Russia was the biggest buyer. And not surprisingly, the lion’s share of gold is flowing into central banks of countries that are in the sights of America’s killing machine-the Military Industrial Complex that Eisenhower warned us about in 1958.
The Bank for International Settlements (BIS), located in Basal, Switzerland, is often referred to as the central bankers’ bank. Related to this issue of central bank hoarding of gold is the fact that on March 29 the BIS will permit central banks to count the physical gold it holds (marked to market) as a reserve asset just the same as it allows cash and sovereign debt instruments to be counted.
There has been a long-term view that China and other nations dishoarding dollars in favor of gold have been quite happy about western banks trashing the gold price through the synthetic paper markets. But one has to wonder if that might not change, once physical gold is marked to market for the sake of enlarging bank balance sheets.
This also raises the question with regard to how much gold the U.S. actually holds as opposed to what it claims to hold. James Sinclair has always argued that the only way the world can overcome the debt that is strangling the global economy is to remonetize gold on the balance sheets of central banks at a price in many thousands of dollars higher. This would mean a major change in the global monetary system away from the dollar, as China has been pushing for the last decade or so.
If banks own and possess gold bullion, they can use that asset as equity and thus this will enable them to print more money. It may be no coincidence that as March 29th has been approaching banks around the world have been buying huge amounts of physical gold and taking delivery. For the first time in 50 years, central banks bought over 640 tonnes of gold bars last year, almost twice as much as in 2017 and the highest level raised since 1971, when President Nixon closed the gold window and forced the world onto a floating rate currency system.
But as Chris Powell of GATA noted, that in itself is not news. The move toward making gold equal to cash and bonds was anticipated several years ago. However, what is news is the realization by a major Italian Newspaper, II Sole/24 Ore, that “synthetic gold,” or “paper gold,” has been used to suppress the price of gold, thus enabling countries and their central banks to continue to buy gold and build up their reserves at lower and lower prices as massive amounts of artificially-created “synthetic gold” triggers layer upon layer of artificially lower priced gold as unaware private investors panic out of their positions.
This worthwhile commentary from Jay, which I’ve read in its entirety, was posted on the Zero Hedge website in abridged form at 11:29 a.m. EDT on Sunday morning — and the first reader that dropped it in my in-box was Judy Sturgis. Another link to it is here.
I write about bubbles and interest rates a lot. Recently a Fed bigwig wrote an article that stated the Fed cannot normalize policy EVER without blowing up all of the bubbles in the financial system. Keeping interest rates this low fosters speculation and will push the financial bubbles even further into never-never land. When this all comes to an end, it will be horrific. What better way to prepare for the inevitable than to own gold and silver? The bubbles are real. The debasement of currency and bonds are real. None of this is imagined. The Fed understands this and the danger in keeping rates low, but they finally are getting around to admitting that they have no choice.
Phoenix Capital
A Fed Insider Comes Clean on the Everything Bubble
The Fed just realized two things:
1)  It cannot normalize policy EVER without blowing up the Everything Bubble/ financial system.
2)  The Fed is well behind the curve when it comes to dealing with the next downturn.
Regarding #1, we’ve had some developments in the last month.
Recently, Dallas Fed President Robert Kaplan published an article on one of the Fed’s websites outlining the risks to the corporate bond market.
U.S. nonfinancial corporate debt as a percentage of GDP is now higher than the prior peak reached at the end of 2008…Nonfinancial corporate bonds outstanding in the U.S. grew from approximately $2.2 trillion in 2008 to approximately $5.7 trillion at year-end 2018…
Source: The Dallas Fed
Kaplan is here admitting that the US corporate space is now MORE leveraged to the real economy than it was in 2008. He notes, that as a result of this, the US economy is MUCH more sensitive to interest rates.
An elevated level of corporate debt, along with the high level of U.S. government debt, is likely to mean that the U.S. economy is much more interest rate sensitive than it has been historically.
Source: The Dallas Fed
Even more astonishing Kaplan stated that THIS was the reason why the Fed has decided to stop hiking interest rates!
In January I suggested this was the primary reason why the Fed made such an abrupt U-turn regarding monetary policy. It’s truly extraordinary that a Fed President is confirming this in public.
Remember, the primary mandate of the Fed is to maintain financial stability. This inherently means downplaying risks/ potential threats to the financial system/economy. So as much as you or I would like the Fed to be bluntly honest, the fact is that the Fed has to sugarcoat things to avoid panics.
With that in mind, the above admission by Fed President Kaplan is BEYOND extraordinary. Here we have the head of a regional Federal Bank admitting on record that the financial system, specifically the corporate bond market, is now MORE leveraged than it was in 2008 as direct result of Fed policy.
Even more astonishing for a Fed official, Kaplan is admitting that the US economy is now much more sensitive to interest rates. Put another way, the entire US economy/ financial system has become one gigantic bubble that requires extreme monetary policy (extraordinarily low interest rates) to NOT blow up.
This is literally the definition of the Everything Bubble.
If you aren’t actively taking steps to prepare for this, you need to start NOW.
On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s coming down the pike when the Everything Bubble bursts.
It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here.
Best Regards
If you believe that there must be an endgame to all of this debt, money creation, and bubble-inducing madness, then I suggest that you also consider the following inevitable result on the precious metals market. Let me start by giving you an example. We have a client whose net worth is more than $350,000,000. He has already purchased $10,000,000 worth of gold. At the first sign of a credit collapse, interest rates rising rapidly out of control or of the dollar falling fast (having lost its Petro Dollar or Reserve Currency status), he is prepared to purchase an additional $50,000,000 worth of gold. If we had to go into the marketplace today and place an order of that size I don’t think we could fill it – at least not immediately. That would be just one order from one client.
When it becomes clear that the time to own gold and silver is actually upon us, one of two things will happen. The metals may not be available at all, you will have to pay a great deal more, and wait to take delivery.
We have already experienced several periods when gold or silver were not available from the primary distributors (Mints, Refiners, etc.). They were sold out and backordered. This happened when the prices dropped too low and while the demand rose. But when there is a stampede to buy gold and silver that is not precipitated by low prices, but rather by rapidly rising prices fostered by greed and fear of a collapse in the currency or credit markets, the demand will be much, much greater. You better have a very strong relationship with your dealer and hope that they can put you near the top of what will be a very long list of orders. This is not a scare tactic, it is a fact. It is exactly how the market will work. It will freeze up and supply will vanish, prices will rise. What is an ounce of gold or silver in scarce supply worth when people are desperate to unload their dollars to purchase it? Ask the people in Venezuela.
Are confident that you know how this must end up? The facts are adding up pointing to a very unhappy ending that is moving closer by the day. You should remind yourself that when you think it is convenient to take your position in gold and silver they may not be available for purchase, or if they are, you will have to wait a long time to take delivery paying a huge premium for the privilege of getting some precious metals at all.
I ask myself, why are we doing so much business in the last six months with gold and silver still so very much out of favor by the main stream? Because many of our clients are aware of what I just wrote (above). They understand that being early is the only safe option and they can see the handwriting on the wall. The stock market, the bond market and the dollar are ALL under pressure.
I will end this with a few comments from our friend Jim Sinclair – still “Mr. Gold” in our mind….
Jim Sinclair
WHEN WILL THE PARTY END?
The manipulators of paper gold can temporarily do anything. The operative word there in being temporarily.
The equation is gold versus run away insane debt levels, plus now we see QE in its true GLOBAL form as to INFINITY.
YOU NEED TO MAKE YOUR DECISION AND NOT OVER-INTELLECTUALIZE IT.
Do you really believe that fiat paper will maintain, and therefore store the value of what you have? Sorry, it simply will not.
As such GOLD is your savings account.
End of story!
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About Miles Franklin
Miles Franklin was founded in January, 1990 by David MILES Schectman. David’s son, Andy Schectman, our CEO, joined Miles Franklin in 1991. Miles Franklin’s primary focus from 1990 through 1998 was the Swiss Annuity and we were one of the two top firms in the industry. In November, 2000, we decided to de-emphasize our focus on off-shore investing and moved primarily into gold and silver, which we felt were about to enter into a long-term bull market cycle. Our timing and our new direction proved to be the right thing to do.
We are rated A+ by the BBB with zero complaints on our record. We are recommended by many prominent newsletter writers including Doug Casey, Jim Sinclair, David Morgan, Future Money Trends and the SGT Report.
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Categories
Base Metals Energy

Nuclear shares soar after China plans to invest US$12 billion in new reactors for first time since 2016

 

Nuclear power related shares soared across the board on Tuesday in Hong Kong and China after Beijing announced plans to invest 81.2 billion yuan (US$12 billion) in four new reactors for the first time since 2016.

CGN Mining, a unit of state-owned China General Nuclear Power Group (CGN) that trades in uranium fuel, jumped 15 per cent to 38 Hong Kong cents in Hong Kong. CGN Power, a nuclear power station operator under CGN, also climbed 3.2 per cent to HK$2.27, extending a four-day winning streak.

Nuclear power equipment maker Lanzhou LS Heavy Equipment soared by the maximum-allowed 10 per cent to close at 6.33 yuan in Shanghai.

Shenzhen Woer Heat-Shrinkable Material, which manufactures materials for nuclear reactors, also surged 10 per cent on the Shenzhen Stock Exchange.

Industrial valve maker SUFA Technology Industry rose 7.1 per cent to 15.59 yuan in Shenzhen.

China Nuclear Industry Construction, a unit of China’s sole nuclear power engineering firm CNEC, jumped 5.6 per cent to 9.47 yuan in Shanghai. CGN Nuclear Technology Development, which mainly makes electron accelerators, gained 5.5 per cent to 9.65 yuan in Shenzhen.

The broad surge came after China’s Ministry of Ecology and Environment said in a statement carried on its website on Monday that China National Nuclear Power (CNNP) and CGN plan to build two reactors each starting in June.

CNNP’s reactors are planned in Zhangzhou city, Fujian province, while CGN will build the other two in Huizhou city, Guangdong province.

The companies will adopt China’s domestically developed nuclear reactor design, namely the Hualong One third-generation reactors. It has been developed by CNNP and CGN based on the ACPR1000 and ACP1000 designs, derived from the French technology.

CNNP officials have hailed it as China’s independent innovation.

If advanced on schedule, the launch will end a three-year hiatus in China’s nuclear reactor construction and boost the country’s nuclear export ambitions.

Beijing did not approve any new reactor from 2016 to 2018, partly due to the slow progress in the use of advanced and safer third-generation reactors, including Westinghouse’s AP1000 and Hualong One.

The ministry said that if it does not get any objections on the environmental impact of the projects by March 29, the two firms may go ahead and start construction as scheduled. The projects are subject to other regulatory clearance.

As of January, China had 46 nuclear reactors in operation with a capacity of more than 45 gigawatts, making it the world’s third largest in installed capacity, according to the government. Another 11 are under construction with a planned capacity of 12.2GW.

Last year, about 3.9 per cent of electricity generated in China came from nuclear power.

China’s nuclear power development strategy has set a goal of 58GW in total installed nuclear generation capacity by 2020.

More from South China Morning Post:

This article Nuclear shares soar after China plans to invest US$12 billion in new reactors for first time since 2016 first appeared on South China Morning Post

For the latest news from the South China Morning Post download our mobile app. Copyright 2019.

Original Source: https://sg.news.yahoo.com/nuclear-shares-soar-china-plans-112747232.html?soc_src=community&soc_trk=tw
Categories
Blog Junior Mining

AGORA FINANCIAL Gold Speculator Portfolio Update


To get more great content from Agora Financial click here.
Riverside Resources (OTCBB: RVSDF)
Maintain Buy up to: $0.24
Position sizing: 1.5%
Riverside is a prospect generator that works mainly in northern Mexico, Sonora state. I’ve visited several of the company’s sites. In fact, I was down there this past weekend.
Shares traded down in the past month. Shares are slightly down over the past six months and year.
Riverside recently raised over $2 million via “oversubscribed” private placement. It’s a vote of confidence in the company and its CEO John-Mark Staude.
I visited a couple more Riverside mineral claims the other day down in Sonora. Let’s begin with this shot from the pickup truck… Indeed, you know you might be onto something when the roads are paved with copper ore!
IMG 1
Copper mineralization in road gravel. BWK photo.
The green stuff is malachite, mostly; it’s copper mineralization that coats gravel in an ancient outwash/conglomerate system. The source (the technical term is “up-gradient origin”) is a nearby, massive copper porphyry… a true mountain of copper ore.
There’s been a bit of historic mining in the area but not much. Indeed, most of the ore body has barely been picked over topside by miners of old, and almost none of it has felt the gentle touch of a drill bit. But Riverside has consolidated the hodgepodge of claims into a much better package for purposes of bringing in a partner. It’s ready to go now. (Note: I said “now.”)
During one stop along the field-trip route, John-Mark and I were literally walking on high-grade copper ore (the green stuff). Like this…
IMG 2
Your editor and Riverside CEO John-Mark Staude, walking on copper. BWK photo.
We were in the midst of a mineralized trend that’s literally miles-by-miles in dimension. It’s eastern Sonora, just west of the foothills of the mighty Sierra Madre mountain range. It’s volcanic caldera country — think of Yellowstone Park.
There’s placer gold mining in every streambed, water supply permitting. And there’s hard-rock mining to the east and west. The secret to success here is that much of the Riverside claim is buried, in some places under a thin layer of volcanic ash, like what you see here in this shot.
IMG 3
Your editor walks on volcanic ash, accompanied by a curious ranch dog. BWK photo.
Copper and gold. You want it? Right here… Riverside is absolutely ripe for a major combination with a larger company. The land position is second to none. The mineralization is vast, high grade, big size and eminently scalable. Company staff have done a splendid job of obtaining land position, permits, agreements with locals, nearby political support and more.
As a prospect generator, Riverside is in the business of developing multiple parallel stories, which add value. Stand by… That added value is likely to show up very soon! If you don’t own shares, get some. Maintain buy on Riverside up to $0.24.

Categories
Junior Mining Precious Metals

RISE GOLD Intersects 90 gpt Gold Over 4.3 meters at Idaho-Maryland

New drill intercept in Idaho Vein assays 90.4 gpt gold / 4.27 m (2.6 oz per ton / 14.0 ft)New drill intercept includes 458 gpt gold over 0.81 m (13.4 oz per ton / 2.7 ft) Additional drilling targeting Idaho #1 Vein currently in progressMultiple 52 Vein intersections assayed up to 15.4 gpt gold over 1.63 m (0.45 opt / 5.3 ft)A shallow vein near surface assayed 8.5 gpt gold over 2.88 m (0.25 opt / 9.4 ft)

Vancouver, British Columbia–(Newsfile Corp. – March 19, 2019) – Rise Gold Corp. (CSE: RISE) (OTCQB: RYES) (the “Company“) is pleased to announce additional assay results from on-going diamond core drilling at the Idaho-Maryland (“I-M”) Gold Project.

The exploration drill program at the Idaho-Maryland continues to be successful. Recent drilling intersected the Idaho #1 Vein below historic mining areas and intersected the 52 Vein area prior to reaching the Idaho #1 Vein target. A shallow vein was also intersected at 259 m.

TABLE 1 – New Drill Hole Intercept Highlights

Hole
From (m)
To (m)
Gold
(gpt)
Intercept
Length
(m)*
Vein
Idaho #1 Vein
I-18-11
1381.86
1384.33
3.6
2.47
Idaho #1
I-19-13
1007.97
1013.09
5.5
5.12
Idaho #1
I-19-13A
1005.31
1009.57
90.4
4.27
Idaho # 1
Including
1008.77
1009.57
458.0
0.81
Near Surface
I-18-11
259.16
262.04
8.5
2.88
?
Including
261.14
262.04
18.8
0.90
52 Vein Area
I-18-11
975.50
976.70
19.2
1.20
52
I-18-11
992.25
993.88
15.4
1.63
52
Including
992.70
993.22
35.6
0.52
I-18-11
1046.17
1052.58
3.9
6.42
52
I-18-11
1142.33
1144.08
5.4
1.75
52
I-18-12
950.50
960.49
2.6
9.98
52

*The Company is not able to estimate true widths for the intersected mineralization until further drilling is completed.

Very high-grade gold mineralization was encountered in drill hole I-19-13A which assayed 90.4 gpt gold over 4.27 m (2.6 oz per ton / 14 feet). Rise Gold has interpreted this intercept to represent a significant down-dip extension of the historic Idaho #1 Vein. The intercept in I-19-13A is near the elevation of the lowest haulage level of the mine accessed by the existing vertical mine shaft.

FIGURE 1 – Visible Gold in Drill Intercept I-19-13A (in retained half core)

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The Idaho #1 Vein was the most productive and highest-grade vein of the I-M Mine. Historic production from the Idaho #1 Vein is estimated at 935,000 oz of gold with an average head grade of 38.7 gpt (1.12 opt) gold. Total historic production from the Idaho Veins is estimated at 1,621,000 oz of gold with an average head grade of 28.4 gpt (0.74 opt) gold.

Idaho #1 Vein Drilling

The mineralized intercepts in drill holes I-19-13 and I-19-13A consist of a quartz shear vein and extensive zones of quartz-sericite-pyrite alteration in the walls of the vein.

  • Drill hole I-19-13A was wedged from drill hole I-19-13 and the holes are offset approx. 1.5 meters apart at the vein intersection
  • The vein in I-19-13 assayed 5.5 gpt gold over 5.12 m (0.16 opt / 16.8 ft)
  • The vein in I-19-13A assayed 90.4 gpt gold over 4.27 m (2.64 opt / 14.0 ft)
  • The weighted average of both holes is 44.1 gpt gold over 4.69m (1.29 opt / 15.4 ft)
  • I-19-13A includes a sample which assayed 458 gpt gold over 0.84 m (13.36 opt / 2.7 ft)
  • The vein in I-19-13A contains coarse visible gold in some samples of retained half core
  • A 40 m wide zone of alteration surrounds the vein with an average grade of ~1.5 gpt gold and individual samples assaying up to 12 gpt gold

Drill hole I-18-11 intersected the Idaho #1 Vein approx. 525 m along strike to the north-west and 200 m below I-19-13A. The intercept consists of a quartz shear vein and extensive zones of quartz-sericite-pyrite alteration in the walls of the vein.

  • The vein in I-18-11 assayed 3.6 gpt gold over 2.47 m (0.11 opt / 8.1 ft)
  • A 100 m wide zone of alteration surrounds the vein with an average grade of ~1.1 gpt gold and individual samples assaying up to 8 gpt gold
  • Additional drilling in the area of I-18-11 may reveal coarse gold similar to I-19-13A

Drill hole I-18-13A and I-18-11 are located 120 m and 320 m vertically below the I2400 level, the lowest level of exploration on the Idaho #1 Vein. Historic drifts were driven from each end of the vein and reported to be in gold mineralization at the time the mine was shut down.

  • I2400L West: historic channel samples of the vein and wallrock averaged 19.9 gpt gold over 1.93 m (0.58 opt / 6.4 ft) for a distance of 165 m to the final shutdown face
  • Channel samples include assays up to 481 gpt gold over 1.16 m (14.0 opt / 3.8 ft)
  • I2400L East: drifting in the Idaho #1 Vein was reported to be “well mineralized” over a distance of 76 m to the final shutdown face

Drill hole I-18-12 was designed to test the down-dip extension of the mineralization encountered in I-18-11 but significantly deviated and did not reach the intended Idaho #1 Vein target.

Rise Gold is currently drilling the Idaho #1 Vein target between I-19-13A and I-18-11 and utilizing directional drilling to improve the accuracy of drilling and expedite the next intercepts.

A summary of drill hole assay results from recent exploration diamond drilling on the Idaho #1 Vein target are presented in Table 1 and illustrated in Figure 2. A photo of coarse visible gold in drill hole I-19-13A is displayed in Figure 1.

The Isometric drawing (Figure 2) showing the recent drill hole intercepts in the Idaho area can be downloaded from the following link.

https://riseg.sharefile.com/d-s8bc52c537474e41a

FIGURE 2 – Idaho Vein Intercepts – Isometric View

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52 Vein Area Drilling

Drill holes I-18-11 and I-18-12 drilled though the 52 Vein area en route to the Idaho #1 Vein target.

Important gold mineralization related to the 52 Vein was intersected in drill holes I-18-11 & I-18-12. The 52 Vein intercepts are located approximately 242 m and 125 m north-east of the previous drill intercept in drill hole I-18-10.

A similar style of mineralization to I-18-10 was encountered with a wide flat lying shear vein and high-grade extensional veins in the walls of vein.

Drill hole I-18-10 assayed 149.3 gpt gold over 6.8 m, including 2,190 gpt gold over 0.47 m and was previously reported by news release on Dec 13th 2018.

https://www.risegoldcorp.com/uploads/content/Dec13RiseGoldIntersects149gptgoldover6.8metersatIdahoMaryland.pdf

The current drill program is focussed on the Idaho #1 Vein target and therefore the 52 Vein intercepts are incidental to the Idaho #1 Vein drilling. The 52 Vein represents a large and compelling target for a focussed drilling program in the future.

A summary of drill hole assay results from recent exploration diamond drilling on the 52 Vein target are presented in Table 1 and illustrated in Figure 3.

FIGURE 3 – 52 Vein Intercepts – Plan View

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Quality Control and Assay Methods

Richard Lippoth, M.Sc, CPG, the qualified person for the exploration drill results disclosure contained in this news release, has studied the drill core discussed in this news release and has reviewed the analytical and quality control results. Mr. Lippoth has reviewed and approved the scientific and technical contents of this news release.

Benjamin Mossman, P.Eng, CEO of Rise Gold, is the qualified person for the historic production disclosure contained in this news release. Historic production at the Idaho-Maryland Mine is disclosed in the Technical Report on the Idaho-Maryland Project dated June 1st, 2017 and available on www.sedar.com.

Rise has implemented a quality control program for its drill program to ensure best practice in the sampling and analysis of the drill core. This includes the insertion of blind blanks, duplicates and certified standards. HQ- and NQ-sized drill core is saw cut with half of the drill core sampled at intervals based on geological criteria including lithology, visual mineralization, and alteration. The remaining half of the core is stored on-site at the Company’s warehouse in Grass Valley, California. Drill core samples are transported in sealed bags to ALS Minerals analytical assay lab in Reno, Nevada.

All gold assays were obtained using a method of screen fire assaying. This procedure involves screening a large pulverized sample of up to 1 kg at 100 microns. Any +100 micron material remaining on the screen is retained and analyzed in its entirety by fire assay with gravimetric finish and reported as the Au (+) fraction result. The -100 micron fraction is homogenized and two sub-samples of 30-50 grams are analyzed by fire assay with AAS finish. If the grade of the material exceeds 10 gpt the sample is re-assayed using a gravimetric finish. The average of the two results is taken and reported as the Au (-) fraction result. All three values are used in calculating the combined gold content of the plus and minus fractions.

About Rise Gold Corp.

Rise Gold is an exploration-stage mining company. The Company’s principal asset is the historic past-producing Idaho-Maryland Gold Mine located in Nevada County, California, USA. The Idaho-Maryland Gold Mine is a past producing gold mine with total past production of 2,414,000 oz of gold at an average mill head grade of 17 gpt gold from 1866-1955. Historic production at the Idaho-Maryland Mine is disclosed in the Technical Report on the Idaho-Maryland Project dated June 1st, 2017 and available on www.sedar.com. Rise Gold is incorporated in Nevada, USA and maintains its head office in Vancouver, British Columbia, Canada.

On behalf of the Board of Directors:

Benjamin Mossman
President, CEO and Director
Rise Gold Corp.

For further information, please contact:

RISE GOLD CORP.
Suite 650, 669 Howe Street
Vancouver, BC V6C 0B4
T: 604.260.4577
info@risegoldcorp.com
www.risegoldcorp.com

The CSE has not reviewed, approved or disapproved the contents of this news release.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words or statements that certain events or conditions “may” or “will” occur.

Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks, uncertainties and assumptions related to certain factors including, without limitation, obtaining all necessary approvals, meeting expenditure and financing requirements, compliance with environmental regulations, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements and information contained in this release. Rise undertakes no obligation to update forward-looking statements or information except as required by law.

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Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

RIVERSIDE RESOURCES Inc. Closes $2.8 Million Private Placement

THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

VANCOUVER, British Columbia, March 19, 2019 (GLOBE NEWSWIRE) — Riverside Resources Inc. (“Riverside” or the “Company”) (RRI.V) is pleased to announce it has closed its previously announced private placement. The placement was over-subscribed and the Company issued 17,488,875 units at a price of $0.16 per unit for gross proceeds of $2,798,220 instead of the 9,375,000 units ($1,500,000) originally contemplated.

Each unit consists of one common share and one whole common share purchase warrant (“Unit”). Each common share purchase warrant is exercisable into one common share for a period of two (2) years from closing at a price of $0.22 (“Warrant”). If, at any time after July 20, 2019, the closing price of the common shares on the TSX Venture Exchange (“TSX-V”) trades at a VWAP equal or greater than $0.45 for 10 consecutive trading days, the Company may accelerate the expiry date of the Warrants by disseminating a press release announcing the new expiry date whereupon the Warrants will expire on the 30th trading day after the date on which such press release is disseminated.

Management and insiders subscribed for 845,000 Units for $135,200 in total proceeds to the Company.

With respect to a portion of the funds raised in the private placement, the Company paid finders’ fees of $87,312 to Sprott Global Resource Investments Ltd., $20,076.80 and 12,000 Units to Haywood Securities Inc., 16,000 Units to Canaccord Genuity, and  $1,280 to PI Financial Corp.

All securities issued pursuant to the private placement and as finders’ fees will be subject to a four-month hold period expiring on July 20, 2019.

The Company will use the proceeds of the financing to fund a focused drill program at the Cecilia Gold Project, additional project acquisitions and further target refinement on existing projects to advance towards new partnerships.

The securities being offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons without United States federal and state registration or an applicable exemption from registration requirements.

About Riverside Resources Inc.:
Riverside is an exploration company driven by value generation and discovery. The company has fewer than 65M shares issued and a strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating in Mexico and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has additional properties available for option, with more information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.
“John-Mark Staude”
Dr. John-Mark Staude, President & CEO

For additional information contact:

John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone:  (778) 327-6671
Fax:  (778) 327-6675
Web:  www.rivres.com		 Raffi Elmajian
Corporate Communications
Riverside Resources Inc.
relmajian@rivres.com
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Categories
Junior Mining

NV Gold Arranges Private Placement of up to CDN$750,000

VANCOUVER, BC / ACCESSWIRE / March 19, 2019 / NV Gold Corporation (TSX-V: NVX; OTC Pink: NVGLF) (“NV Gold” or the “Company“) is pleased to announce it has arranged a non-brokered private placement of units of the Company for gross proceeds of up to CDN$750,000 (the “Placement”).

“The Company and our technical team are looking forward to what is shaping up to be a busy and exciting 2019 within our Nevada portfolio. After reviewing our project portfolio, we will be finalizing our exploration strategy in the next couple of weeks and look forward to a focused 2019 exploration and drilling season with great excitement,” commented Peter A. Ball, President and COO of NV Gold.

The Placement is an offering of up to 6,250,000 units (the “Units”) at CDN$0.12 per Unit. Each Unit consists of one Share and one-half of one Warrant exercisable at CDN$0.20 per share for 30 months from issue of the Units. A finder’s fee is payable on subscriptions by certain of the subscribers of 7% of the cash proceeds paid by such subscribers and warrants to purchase 7% of the number shares issuable to such subscribers in respect of their subscriptions for Units.

Closing of the Placement is conditional on acceptance of the TSX Venture Exchange. The proceeds of the Placement will be used by the Company for the advancement of existing properties, potential acquisition new properties, and for general working capital.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About NV Gold Corporation

NV Gold is a junior exploration company based in Vancouver, British Columbia that is focused on delivering value through mineral discoveries. Leveraging its highly experienced in-house technical knowledge, NV Gold’s geological team intends to utilize its geological databases, which contains a vast treasury of field knowledge spanning decades of research and exploration, combined with a portfolio of mineral properties in Nevada, to prioritize key projects for focused exploration programs.

On behalf of the Board of Directors,

Peter A. Ball
President and COO

For further information, visit the Company’s website at www.nvgoldcorp.com or contact:

Peter A. Ball, President & COO
Phone: 1-888-363-9883
Email: peter@nvgoldcorp.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the proposed raising of CDN$750,000 and the proposed uses of such funds and other future plans and objectives of the Company, including exploration plans, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

SOURCE: NV Gold Corporation

View source version on accesswire.com:
https://www.accesswire.com/539488/NV-Gold-Arranges-Private-Placement-of-up-to-CDN750000

Categories
Precious Metals

Federal Reserve Fireworks This Wednesday According to Q?

Federal Reserve Fireworks This Wednesday According to Q?
After watching Federal Reserve chairman Jerome Powell change his tone in regards to Fed tightening over the last few months, the financial markets are largely expecting no action out of the central bank on Wednesday.
Although one potential wild-card has emerged, that could possibly make this week’s meetings one of the more memorable ones in recent times.
Certainly after watching the way the stock market started to really run into trouble last fall as interest rates were rising, it was hardly surprising to see the reversal by Powell and the Fed.
President Donald Trump even joined the action by criticizing the Fed for raising rates too quickly. Even though we’re a decade after the last crisis, and the Fed funds rate is still only at 2.5%.
Which is in direct contradiction to the notion that both Trump and the Fed have attempted to promote of the economy being strong and healthy. Because if that’s the case, why isn’t it time to normalize the rates and balance sheet yet?
However we live in a world where bankers and politicians don’t always do as they say, and don’t always say what they truly mean. During Trump’s election campaign he was talking about a gold standard, auditing the Fed, and how the stock market was a bubble. Now he’s done a 180 since then, and it’s a bit of a mystery what many of the key players might actually be thinking and planning.

Which is even more interesting now with the growing attention centered around the internet voice known as Q (or Qanon). Who many believe is a source of intelligence coming from within the White House.
To be clear, I am happy to admit that while I have been following the story, I am still discerning how much confidence I feel in the veracity of the posts. Yet with that said, I continue to hear from intelligent analysts who I trust and respect who have been completely won over and believe the messages are legitimate.
Which makes Q post 2575 rather intriguing. Especially ahead of this week’s Federal Reserve meeting.

(image courtesy of qanon.pub)
Whether this will manifest on Wednesday will be darn fascinating to watch. I have one reader who suggested to me that a 50-basis point hike may be coming this week. Which if that were to occur, especially given the context, would represent one of the more stunning events I can remember in financial history.
As not only would it serve as a confirmation of the messages Q has been sending, but also of the battle going on behind the scenes that many analysts and commentators have been talking about since before Trump took office.
Such a hike would also be significant in that it would be an indication towards the Fed really being prepared to let the bubbles pop. Which I was not sure they would ever really do, although if there is a 25-basis point hike, let alone a 50-basis point increase, the stock market conditions witnessed back in September and October could well end up looking like an appetizer compared to what would come next.
If nothing else, you can never argue that what’s going on is not more interesting than your average TV show. As Trump has essentially created the most fascinating reality show ever out of the Oval Office of the White House. And perhaps even regardless of what the Fed does this week, seeing how these bubbles are ultimately deflated will be some of the most stunning financial history the world has ever witnessed.
On Wednesday we get the next clue on how that path ultimately unfolds.
Chris Marcus
Arcadia Economics
“Helping You Thrive While We Watch The Dollar Die”
www.ArcadiaEconomics.com

Categories
Base Metals Energy Junior Mining Project Generators

FISSION 3.0 Drills Strong Alteration in Multiple Holes at Key Lake South

First pass drill program returns encouraging results
TSX VENTURE SYMBOL: FUU
KELOWNA, BC, March 20, 2019 /CNW/ – FISSION 3.0 CORP. (“Fission 3” or “the Company“) is pleased to announce results from the first pass drill program at its Key Lake South properties (Karpinka Lake and Hobo Lake projects) in the south-east Athabasca Basin region of Saskatchewan, Canada. A total of ~1300m was drilled in eight completed holes, all of which encountered variably intense hydrothermal alteration and six holes with anomalous radioactivity.  Of note, holes KL19-005, KL19-006 and KL19-007, drilled in the northern part of the extensive land package, encountered the most significant hydrothermal alteration and paleoweathering, which are considered important factors for hosting high-grade uranium mineralization and will be prioritized for follow up. With $6M in the treasury, Fission 3 is well poised to continue to explore on its extensive property portfolio.

  • Winter program at Key Lake complete: Eight holes in 1300.8m in the Key Lake South projects (Karpinka Lake and Hobo Lake) – located on the south-east region of theAthabasca Basin, 40 km south of the basin margin in a geological setting analogous to Fission Uranium’s Triple R deposit at PLS.
  • Drilling intercepted multiple anomalous and narrow radiometric anomalies and strong alteration: drill holes located in the northern area of the property (holes KL19-005, KL19-006 and KL19-007) have exhibited the strongest hydrothermal alteration and paleoweathering profile.
  • Prospective for high-grade mineralization: KL19-005 intersected over 100m of strong clay alteration and faulted rock, which is interpreted to represent a major structural dilation zone.  Such settings are important in the genesis of structurally hosted uranium deposits as they provide a pathway for large amount of hydrothermal fluid flow and can develop traps for localizing mineralized fluids.  Most of the Athabasca Basin’s major uranium deposits are situated in similar geological settings.
  • Cree Bay exploration upcoming: Fission 3.0’s ongoing portfolio exploration program will now move to Cree Bay, conducting ground geophysics surveys to assist with the planned summer drill program.
Fission 3.0 Corp. (CNW Group/Fission 3.0 Corp.)

Ross McElroy, COO, and Chief Geologist for Fission, commented,
“The drill program at Key Lake is the latest step in the ongoing exploration of our prospective uranium projects. With radioactivity and strong alteration in multiple holes, we are looking at very encouraging first pass results that warrant follow up drilling. The winter program will now progress with a ground geophysics DC resistivity survey on our Cree Bay property in the northeast basin area, as we focus on developing high-priority drill targets to be tested during the summer exploration program.”  
About Key Lake South: The Key Lake area is an important historic mining district.  The Key Lake operations is owned by Cameco Corp. (83%) and Orano Canada Inc. (17%) and hosted the former Key Lake mine, which produced 208 million pounds of uranium between 1975 to 1997 and is home to one of the largest uranium mills in the world.  The Key Lake mill processed ore from the McArthur River uranium deposit, until Cameco announced in 2018 that McArthur River mining would be suspended indefinitely due to low uranium prices.  The area is considered highly prospective to discover significant new uranium occurrences.
The 100% owned Key Lake South Projects consist of two projects (Karpinka Lake and Hobo Lake) covering 19,377 ha in 42 mineral claims. The properties are located approximately 40km south of the historic Key Lake mine. The projects are geologically situated within the extremely prolific Wollaston-Mudjatic Transition Zone “WMTZ”, notable for hosting the majority of the major high-grade uranium deposits on the eastern side of the Athabasca Basin.  To the north, the Key Lake Deposit is hosted within the northern portion of northeast-southwest trending litho-structural feature known as the Key Lake Shear Zone “KLSZ”.  The KLSZ continues southward through the Karpinka Lake and Hobo Lake projects.  Together the properties cover approximately 50km of trend of the KLSZ, where a number of geochemical uranium anomalies have been discovered and where a network of EM conductors exhibit structural complexity including off-sets, breaks, folding and other geophysical features such as gravity and resistivity lows.  These features are often associated with uranium mineralization occurrences.
Key Lake South Projects – Drilling Summary
Table 1:  Winter 2019 Key Lake South Drill Hole Summary

Property Target EM Conductor Hole ID Collar * Down-hole Radiometric Highlights
with Mount Sopris 2PGA-1000 Natural
Gamma Probe		 Overburden
Depth (m)		 Total
Depth (m)
Azimuth Dip From (m) To (m) Width (m) CPS Peak
Karpinka
Lake		 Key Lake Shear Zone FOR-B-2220 KL19-001 79 -75 99.9 100.2 0.3 743 18.0 149.0
111.3 111.9 0.6 884
114.9 115.3 0.4 984
126.5 126.8 0.3 948
129.4 131.8 2.4 1431
FOR-2 KL19-002 274 -50 53.5 53.8 0.3 1344 2.1 101.0
79.1 80.2 1.1 985
FOR-B-2220 KL19-003 257 -63 217.2 218.1 0.9 1492 15.3 251.0
220.3 220.6 0.3 693
KAR-3160 KL19-004 277 -54 69.1 70.0 0.9 1302 37.6 125.0
KL19-005 86 -61 No anomalous radioactivity 39.0 128.8
KL19-006 90 -52 No anomalous radioactivity 57.0 101.0
KL19-007 86 -67 113.7 114.3 0.6 840 29.0 152.0
118.7 119 0.3 595
N/A KL19-008 271 -55 212.3 212.5 0.2 550 7.3 293.0
TOTAL 1300.8

 
KL19-001
KL19-001 was an angled drill hole oriented parallel to the intermittent, weak, calc-silicate hosted radioactivity intersected in historic hole RO-01.  The purpose of KL19-001 was to test the radioactive calc-silicate from the top of bedrock down to a depth of approximately 150m. Bedrock was intersected at a depth of 18.0m down hole and was comprised of variably clay, hematite, graphite and chlorite altered schist, cataclasite and calc-silicate.  A strongly hematized calc-silicate was cored from 126.8m to 132.5m down hole which returned weak radioactivity up to 590 cps on a RS-125 handheld scintillometer.  No other anomalous radioactivity was intersected, and the hole was terminated at a depth of 149.0m in weakly altered graphitic schist.
KL19-002
KL19-002 was an angled drill hole targeting the Key Lake Shear zone (KLSZ) approximately 950m south of KL19-001. Bedrock was intersected at a depth of 43.0 m down hole and was comprised of weakly altered orthogneiss and calc-silicate gneiss to a depth of 72.9m.  From 72.9m to 80.3m a strongly sheared biotite-garnet gneiss was cored with a central 5.2mwide graphitic brittle-ductile fault zone. The hole was terminated at a depth of 101.0m in fresh orthogneiss.
KL19-003
KL19-003 was an angled drill hole targeting the weakly radioactive calc-silicate approximately 75m below that intersected in KL19-001.  The drill hole aimed to assess the variability in previously intersected calc-silicate thickness and radioactivity with depth, and to test for parallel radioactive calc-silicate lenses.  Bedrock was intersected at a depth of 15.3m down hole and was comprised of a thick sequence of biotite schist to a depth of 182.5m where a sheared, graphitic schist was intersected.  A weakly radioactive calc-silicate lens was cored from 222.2m to 224.5m which returned up to 410 cps on a RS-125 handheld scintillometer. The hole was terminated at a final depth of 251.0m in fresh orthogneiss.
KL19-004
KL19-004 was an angled drill hole testing the southern extent of a large left stepping electromagnetic conductor trace ~7km north of KL-001.  This flexure is interpreted to reflect a dilational zone in the KLSZ caused by sinistral strike-slip movement. Bedrock was intersected at a depth of 37.0m down hole and was comprised primarily of weakly hematite altered orthogneiss.  An intercalacted sequence of weakly graphitic biotite-garnet schist and cataclasite was cored from 42.7m to 66.9m down hole. No anomalous radioactivity was intersected, and the hole was terminated at a depth of 125.0m in fresh orthogneiss.
KL19-005
KL19-005 was an angled drill hole testing the same large, left stepping KLSZ VTEM conductor trace as KL19-004, approximately 1 km further to the north. Bedrock was intersected at a depth of 39.0m down hole as was comprised of moderately to extremely bleached, clay, hematite, chlorite and graphite altered orthogneiss.  A strongly graphitic, clay and chlorite altered cataclasite was intersected from 85.5m to 94.5m down hole. Thin limonitic fractures in the graphite altered orthogneiss at approximately 78m down hole returned elevated radioactivity up to 200 cps on the RS-125 handheld scintillometer. The hole was lost due to ground conditions at a depth of 128.8m in strongly chlorite and graphite altered orthogneiss.
KL19-006
KL19-006 was an angled drill hole testing the up-dip projection of the graphitic cataclasite in hole KL19-005.  Bedrock was intersected at depth of 56.0m down hole and was comprised of weakly clay and chlorite altered orthogneiss. The drill hole is interpreted to have overshot the graphitic cataclasite which down-dropped the bedrock surface to the east (normal faulting). No anomalous radioactivity was intersected and the hole was terminated at a depth of 101.0m in weakly chlorite and clay altered orthogneiss.
KL19-007
KL19-007 was an angled drill hole testing the down-dip projection of the structural damage zone and strong alteration in KL19-005.  Bedrock was intersected at a depth of 29.0m down hole and was comprised of extremely clay and chlorite altered graphitic cataclasite, variably altered graphitic schist, biotite schist and orthogneiss. Weak elevated radioactivity up to 160 cps was recorded on the RS-125 handheld scintillometer at 119.0m hosted in intercalated quartzitic and graphitic schist.  Apart from the upper cataclasite no structural damage zone was intersected below KL19-005 and the hole was terminated at a depth of 152.0m in fresh orthogneiss.
KL19-008
KL19-008 was an angled drill hole testing for the northern extension of the historic DD-Zone where previous historic drilling returned up to 0.78% U3O8 over 0.5m.  Bedrock was intersected at a depth of 7.3m down hole and was comprised of a thick intercalated sequence of graphite altered amphibolite and calc-silicate to a depth of 136.8m.  Below 136.8m, the hole encountered weakly altered to fresh biotite-garnet schist and graphitic schist.  A 0.20m granite intrusion at 90.5 m depth returned elevated radioactivity up to 540 cps. The hole was terminated at a depth of 293.0m in fresh biotite-garnet schist.
Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using a Mount Sopris PGA-1000 Natural Gamma Probe and a hand-held RS-125 Scintillometer manufactured by Radiation Solutions. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication of the presence of radioactive materials.
Samples from the drill core are split in half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample will be sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK. Analysis will include a 63 element ICP-OES, and boron.
All depth measurements reported, including radioactivity and mineralization interval widths are down-hole, core interval measurements and true thickness are yet to be determined.
Cree Bay Exploration: In 2017 a ground DC Resistivity survey was completed in 2 separate grids centered on sections of strong conductivity interpreted from a historic airborne GEOTEM electromagnetic survey on what was then the Cree Bay property. Fission 3 subsequently staked additional ground to cover the most conductive part of this anomaly. The winter 2019 exploration work will thus continue to extend the ground geophysics survey over the anomaly, to determine the highest priority drill targets. The program will consist of a winter 21 line-km ground DC Resistivity survey and 2 lines of Moving Loop TDEM survey will be conducted during April to cover the most geophysically prospective area identified from a historic GEOTEM electromagnetic survey.
About Cree Bay: The Cree Bay property, located 20km south of the town of Stony Rapids, consists of 16 claims totaling 14,080 ha and sits on the inside edge of the north-eastern Athabasca Basin.  The property is located along the major SW-NE trending Virgin River Shear Zone.  Locally the conductive corridor is bound by the Black Lake Fault to the north and East Channel Fault to the south.  The historic Nisto uranium mine, is located ~7.5km to the northeast, along the Black Lake fault.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ross McElroy, P.Geol. Chief Geologist and COO for Fission 3.0 Corp., a qualified person.
About Fission 3.0 Corp.
Fission 3.0 Corp. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. Common Shares are listed on the TSX Venture Exchange under the symbol “FUU.”
ON BEHALF OF THE BOARD
“Ross McElroy”

Ross McElroy, COO
Cautionary Statement: Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Fission 3.0 Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Fission 3 Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

SOURCE Fission 3.0 Corp.

For further information: Investor Relations, Ph: 778-484-8030, TF: 844-484-8030, ir@fission3corp.com, www.fission3corp.com