Vancouver, Canada – November 21st, 2022- Trench Metals Corp. (the “Company”) (TSXV: TMC, FWB: 33H2) announces the preliminary findings from the recent field exploration program, including the discovery of multiple zones of highly anomalous radioactivity, on the Higginson Lake Uranium Project in northern Saskatchewan. On the Corrigan Lake target, three locations returned radioactive (**) readings, measured as counts per second (cps) that were “offscale on the handheld instruments (+ 65,500 cps).
The Higginson Lake uranium project covers an area of approximately 5,900 hectares and is 52 kilometres northeast of the town of Stony Rapids, which is accessible by Highway 905 and 964. The Higginson Lake uranium project hosts two historic drill-indicated reserves, totalling 4.8 million lb of U308.(*)
The recent exploration program was designed to confirm historic uranium showings, outline extensions and trends of radioactivity, and prioritize targets for proposed drilling in 2023. Four target areas have been investigated, with significant radioactivity reported from all locations. Rock sampling, prospecting and geological mapping was completed and a total of 75 rock samples were submitted for analysis to SRC Geoanalytical Laboratories, located in Saskatoon.
Target Highlights:
- Corrigan Lake Uranium Prospect – located near the center of the Higginson Lake Property, this occurrence returned the highest radioactive readings (measured as counts per second (cps) on a handheld Radiation Solutions RS-120Super-SCINT gamma-ray scintillometer or a handheld Radiation Solutions RS-125 Super-SPEC gamma-ray spectrometer), including three showings of “off-scale” readings (more than 65,500 cps), associated with uraninite-bearing mineralization, in shallow, historic trenches. Multiple other high radioactive readings range from 10,003 to 47,100 cps.
| Sample ID | CPS Range | CPS Max |
|---|---|---|
| 49471 | 65535+ | 65535 |
| 49034 | 65535+ | 65535 |
| 49035 | 65535+ | 65535 |
| 49036 | 42000-47100 | 47100 |
| 49038 | 26290-30476 | 30476 |
| 49033 | 28000-30150 | 30150 |
| 49473 | 19025-19310 | 19310 |
| 49037 | 12000-13680 | 13680 |
| 49470 | 9770-10003 | 10003 |
The Corrigan Lake showing is underlain by red granite gneisses in contact with migmatites in the south. White pegmatite occurs along the contact and exhibits high radioactivity.
- Dianne Uranium Showing West – located near the west of Higginson Lake, this showing indicated elevated radioactivity in a West-Northwest trend, over a strike length of greater than 1,000 meters, with radioactivity readings up to 26,010 cps.
- Dianne Uranium Showing East – this occurrence returned anomalous radioactivity in a North-Northwest direction for more then 200 metres, with radioactivity readings up to 7285 cps. Combined, the Dianne East and West uranium showings have the longest strike length and radioactive continuity associated with a major structural feature. Radioactive pegmatites were first discovered in this area in 1949 and include a series of radioactive anomalies along a major east-southeast-west-northwest-striking tectonic lineament.
- Charlebois Lake Pegmatities – this target area is located on the northwestern portion of the Higginson Property, with elevated background radioactivity in the 100 – 600 cps range, and a peak radioactivity reading of 2,126 cps. This target measures approximate 1 kilometre by 1 kilometre. The Charlebois Lake showings have seen little modern exploration and is the source of the highest historic (based on assessment reports) assay value results on the property of 1.57 per cent U3O8.
Samples are currently in the laboratory and when assays are returned, the Company will be compiling all available data directed at permitting a maiden drill program on the Higginson Lake property in 2023.
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.
(*) The historical mineral resource estimates presented above used categories that do not conform to current Canadian Institute of Mining, Metallurgy and Petroleum 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 the 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.
(**) Natural gamma radiation in outcrop locations reported in this news release was measured in counts per second using a handheld Radiation Solutions RS-120Super-SCINT gamma-ray scintillometer or a handheld Radiation Solutions RS-125 Super-SPEC gamma-ray spectrometer. The reader is cautioned that scintillometer and spectrometer 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.
About Trench Metals Corp
Trench Metals Corp. is a mineral exploration company with a focus on uranium. 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 acquire a 100% interest in two highly prospective uranium project in Saskatchewan’s Athabasca Uranium district. Higginson Lake Uranium Project which covers an area of approximately 5900 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. And the Gorilla Lake Uranium Project which comprises of nearly 7000 hectares in the Northern Mining District of Saskatchewan near the Shea Creek uranium deposit. The Athabasca District is home to the highest grade of uranium deposits in the world and accounts for 18% of global uranium production.
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,
Trench Metals Corp.
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.
