Brades and Fission 3.0 Report New High Priority Conductor Targets
at Clearwater West
Results from airborne survey confirm locations for ground
follow-up
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 27, 2014) -
BRADES RESOURCE CORP. ("the company") (TSX-VENTURE:BRA) and its
Joint Venture (JV) partner, Fission 3.0 Corp. (Fission 3) are
pleased to announce the results of a Versatile Time Domain
Electromagnetic (VTEM Max) airborne survey at their Clearwater West
property in Saskatchewan's Athabasca Basin. Several high priority
basement hosted conductive anomalies have been identified,
including those with coincident radiometric anomalies identified
from the previously announced airborne radiometric survey (see news
release Apr 15, 2014).
Survey Highlights
- 24 discrete conductive target areas located
- The most significant anomalies are located on eastern side of
the property where a total of seven high priority conductive target
areas have been identified
- Five high-priority conductive bedrock target areas have
coincidental anomalous radiometric associations as identified by
Fission 3's patent-pending radiometric airborne survey (see news
release Apr 15, 2014)
- Prospecting for mineralized boulders as well as ground
geophysics including orientation Electromagnetic (EM) and
DC-Resistivity surveys will be used to establish drill
targets.
Brades Director, Dr. Harrison Cookenboo, Ph.D., P.Geo.,
commented:
"We are very pleased with the exciting progress Fission 3.0 is
making on the Clearwater West property. The conductor anomalies
identified from the VTEM Max survey, combined with the strong
radiometric anomalies announced last month, highlight the potential
for uranium discovery on the property, where Brades holds an option
to earn 50% interest."
High-grade uranium mineralization in the Athabasca Basin region
is generally controlled by structural and hydrothermal processes,
often associated with a graphitic metapelitic gneiss. These
features tend to have distinctive conductive signatures. A VTEM
survey can often be effectively used to identify such features,
discriminating them as electromagnetic (EM) conductors in a
conductive lithostratigraphic package.
Aeroquest Airborne was contracted by Fission 3 to conduct a
property-scale helicopter-borne VTEM Max airborne survey over the
entire Clearwater West property. This survey is widely considered
to be a leading airborne time domain electromagnetic survey, with a
proven capability to identify conductive packages in bedrock. A
total of 620 line-km of survey was flown at 200m line-spacings at
an orientation of 135°.
Fission 3.0 reports VTEM conductor responses from the survey
comprising numerous parallel predominantly NE-SW strike direction
trends. A total of 24 conductive target areas were identified
across the property (target areas A to X inclusive). Target areas
on the eastern half of the property appear stronger and shallower
compared to the west, and are considered the highest priority for
ground survey follow-up, leading to generating drill targets.
On the eastern side of the property, 3 larger grouped areas are
evident (Areas 1, 2 and 3 approximately 3 x 4km in size each) which
show strong evidence of NW-SE conductive trends, associated with
the NE-SW conductor strike trends. Within these 3 areas, 7 discrete
targets are ranked as high priority, due to their favorable and
strong conductive expression:
- Area 1: Targets B, C
- Area 2: Targets H, J and K
- Area 3: Targets A, G
Radiometric associations are coincident with six conductive
anomalies; B, C, J, H, A and T. Five conductive anomalies (B, C, J,
H and A) are considered high priority, while T is considered
moderate priority.
Future exploration plans being considered, include prospecting,
mapping the radiometric anomalies and ground geophysics surveys.
Among the ground surveys being considered are orientation
Electromagnetic (EM) and DC-Resistivity surveys, which will be used
to help establish drill targets.
Fission 3.0 is making on the Clearwater West property. The
conductor anomalies identified from the VTEM Max survey, combined
with the strong radiometric anomalies announced last highlight the
potential for uranium discovery on the property, where we hold an
option to earn 50% interest.
Updated map of the priority targets can be found on the Brades
Resource website. www.bradesresource.com.
Summary of the Clearwater West Project
Fission 3's experienced and successful management and technical
team, with a track record of two major high-grade uranium
discoveries in the Athabasca Basin region in the past three years
(Waterbury Lake project and the PLS project), operates and manages
Clearwater West. Fission 3 currently holds a 100% interest in
Clearwater West.
Brades has entered into a 3-year option to acquire up to a 50%
interest in Clearwater West by incurring $5,000,000 of staged
exploration expenditures on or before October 14, 2016. Year One
minimum exploration requirement is $0.7M.
The Athabasca Basin region hosts the world's richest uranium
deposits, with a well-established and politically stable, uranium
exploration and mining sector. Fission 3 and Brades consider the
recent discovery of high-grade uranium in the southwestern region
of the Athabasca Basin to demonstrate the prospective merit of this
under-explored area.
Clearwater West lies adjacent to the south of Fission Uranium's
Patterson Lake South (PLS) property, host to a high-grade, shallow
depth uranium discovery along a 2.24km trend. The best drill hole
to date at the PLS discovery includes intersections as high as
38.49% U3O8 over 10.5m in 13.66% U308 over 38.0m and 27.57% U3O8
over 12.0m in 11.19% U3O8 over 31.5m (PLS14-129; Fission Uranium
Corp. news release dated February 19, 2014). Fission Uranium has
recently completed a 30,000m drill program at PLS.
Clearwater West is an early stage exploration project
prospective for hosting high-grade uranium mineralization. Such
mineralization is structurally controlled and typically associated
with basement graphitic shear zones within clay altered
metasedimentary basement lithologies. These features have unique
characteristics that can be identified by various geophysical
surveys. The property covers historic airborne EM anomalies, which
could be the extensions of the EM conductors identified on the PLS
property immediately to the north.
About Brades Resource Corp.
Brades Resource Corp is a Canadian-based resource company
focused on gold in British Columbia and uranium in Saskatchewan's
Athabasca Basin - the world's largest source of high-grade uranium.
The company has a joint venture with Fission 3.0 Corp. to explore
Fission's Clearwater West property at which Fission's award-winning
technical team will be the Operator. Brades also has a large,
strategically located property at Lorne Lake in the Athabasca Basin
and a gold project in British Columbia.
On
behalf of the board, |
Shares issued: 23,455,042 |
Brian
Biles, Director |
www.bradesresource.com |
Neither 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.
This news release includes certain statements that
constitute "forward-looking information" within the meaning of
applicable securities law, including without limitation, statements
that address the timing and content of upcoming work programs,
geological interpretations, receipt of property titles and
exploitation activities and developments. Forward-looking
statements address future events and conditions and are necessarily
based upon a number of estimates and assumptions. While such
estimates and assumptions are considered reasonable by the
management of the Company, they are inherently subject to
significant business, economic, competitive and regulatory
uncertainties and risks, including the ability of the Company to
raise the funds necessary to fund the option earn-in on the
Clearwater West property and, accordingly, may not occur as
described herein or at all. Actual results may differ materially
from those currently anticipated in such statements. Factors that
could cause actual results to differ materially from those in
forward looking statements include market prices, exploitation and
exploration successes, the timing and receipt of government and
regulatory approvals, and continued availability of capital and
financing and general economic, market or business conditions.
Readers are referred to the Company's filings with the Canadian
securities regulators for information on these and other risk
factors, available at www.sedar.com. Investors are cautioned that
forward-looking statements are not guarantees of future performance
or events and, accordingly are cautioned not to put undue reliance
on forward-looking statements due to the inherent uncertainty of
such statements. The forward-looking statements included in this
news release are made as of the date hereof and 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 expressly required by
applicable securities legislation.
Brades Resource Corp.Brian BilesDirector604 687
7742brian@bradesresource.comwww.bradesresource.com