VANCOUVER, April 12, 2019 /CNW/ - Clean Commodities
Corp. (TSX VENTURE: CLE) ("Clean
Commodities" or the "Corporation") is pleased to announce that its
project partner Azincourt Energy Corp. ("Azincourt") has
received preliminary results from the recent helicopter-borne
Versatile Time-Domain Electromagnetic (VTEM™ Max) and Magnetic
survey conducted over the southeastern portion of the East Preston
Uranium Project, located in the western Athabasca Basin, Saskatchewan.
East Preston Uranium Project:
https://imgur.com/zHWbrRy
The survey was conducted between January
23rd and February
6th, 2019 and completed survey coverage over the
entire 25,000-ha project area. This survey consisted of 498 line-km
with 300 m line spacing and
1,000 m tie-line spacing – identical
parameters to the previous VTEM™ Max survey, and ties directly into
the previous flight lines. Flight lines are oriented NW-SE,
perpendicular to the NE-SW trending structural and conductor trends
of the basement rocks at East
Preston.
Geotech, the survey provider, is finalizing final reports, but
has completed data processing and has provided a merged dataset
covering the entire East Preston
project by combining the newly acquired VTEM survey data with the
original VTEM data coverage. In-depth interpretation is on-going by
Bingham Geoscience, geophysical consultants to Azincourt.
Results of the interpretation will be reported once received and
reviewed.
The initial interpretation of this new survey data has added an
additional 7.5 km to 10 km along two of the same prospective
previously-known conductive trends. There are offset breaks in the
conductor trends with multiple, discreet conductors
interpreted.
East Preston VTEM Survey:
https://imgur.com/kf93ydP
More in-depth interpretation is on-going and will be used to add
to the East Preston target
inventory for future exploration drill testing.
VTEM Survey Grid – Completed January 2019:
https://imgur.com/RWFftWz
The survey consisted of 498 line-km with 300 m line spacing and 1,000 m tie-line spacing – identical parameters
to the previous VTEM™ Max survey, and ties directly into the
previous flight lines, oriented NW-SE, perpendicular to the NE-SW
trending structural and conductor trends of the basement rocks at
East Preston. 100% of the
East Preston ground has now been
subject to VTEM Max survey.
Geotech is currently completing data processing prior to
delivering to Azincourt consultants for in-depth interpretation.
This new survey data will be used to add targets for future
exploration drill testing and does not impact the current drill
campaign (see also news release dated March
20, 2019, Clean Commodities Corp. Option Partner Azincourt
Energy Commences Drilling at East Preston Project).
East Preston Geophysical Work - Winter 2018:
Azincourt completed a winter geophysical exploration program in
January-February 2018 that generated
a significant amount of new drill targets within the previously
untested corridors while refining additional targets near previous
drilling along the Swoosh corridor.
The work included 51.5 km of grid preparation (line
cutting/picketing), 46.1 km of horizontal loop electromagnetic
(HLEM), and 40.6 km of ground gravity along the previously known
airborne helicopter VTEM conductive trends.
East Preston Option Agreement:
Clean Commodities and Skyharbour Resources Ltd.
("Skyharbour") entered into an Option Agreement (the
"Agreement") whereby Azincourt has an earn-in option to acquire a
70% working interest in a portion of the Preston Uranium Project
known as the East Preston Project. Under the Agreement, Azincourt
has issued common shares and will contribute cash and exploration
expenditure consideration totaling up to CAD $3,500,000 in exchange for up to 70% of the
applicable property area over three years. Of the $3,500,000 in project consideration, $1,000,000 will be in cash payments split equally
between Clean Commodities and Skyharbour, as well as $2,500,000 in exploration expenditures on the
East Preston Project over the three-year period.
Qualified Person:
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 and approved by
Richard Kusmirski, P.Geo., M.Sc.,
Skyharbour's Head Technical Advisor, as well as a Qualified
Person.
About Clean Commodities Corp.
Clean Commodities Corp. (TSXV:CLE) is an exploration company
involved in a diverse portfolio of clean commodity assets including
lithium and uranium projects. For more information, please visit
www.cleancommodities.com.
Signed,
Ryan Kalt, Chief Executive
Officer
Forward-Looking Statements
This news release contains forward-looking statements.
Forward-looking statements address future events and conditions and
therefore, involve inherent risks and uncertainties. Actual results
may differ materially from those currently expected or forecast in
such statements.
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.
SOURCE Clean Commodities Corp.