TONOGOLD Announces that Its Merger Partner has Added to Its Uranium Portfolio - Seite 2

54,496

0.03% eU ₃ O _8, 3ft Thick

Indicated

668,688

0.07

948,098

0.03% eU ₃ O _8, 3ft Thick

Foto: Accesswire

Figure 3: Sky historical RC drilling and Ore outline.

Strathmore's 2007 Resource is currently being reviewed with validation work underway by Qualified Person Andrew Hawker from HGS Australia.

The Sky property lies at the southern margin of the Wind River Basin, which is surrounded by mountains formed during uplift in the early Paleocene.

Uranium mineralization is hosted in the shallow dipping Wind River Formation (known in the Gas Hills district as the Puddle Springs Arkose Member), which is a fluvial deposit consisting of sandstones with lesser amounts of clays, siltstones, and carbonaceous shales.

Similar geology is hosted throughout the two new leases to the northeast and northwest, see Figure 4.

Foto: Accesswire

Figure 4: New Sky Leases.

Mineralization is a typical Wyoming roll-front deposit and occurs within two 10-20ft thick sand units which are overlain, separated by, and underlain by clay lenses that vary in thickness from 10-15ft.

Formed when oxygen-rich groundwater migrates through granitic-rich host sediments dissolving the uranium from matrix into solution and redepositing it where it meets unoxidized groundwater.

Foto: Accesswire

Figure 5: Sky Project Stratigraphy.

Future Plan

The Company is currently planning to complete diamond drilling and gamma logging of 15-20 holes, with accompanying geochemical analysis to adequately define disequilibrium across the deposit and test extensions. This will enable an updated NI43-101 Technical Report.

TONOGOLD CEO William Hunter stated: "During the 2023 geological field season JAG Minerals USA, Inc. was active in expanding it's Uranium and Vanadium claims in Wyoming, Utah and Colorado. Specifically focused on claims that have detailed historic Uranium data and / or published resources open for potential expansion. Further, the areas need access to mills to process the mined Uranium products. This development is very positive to the combined Company and the proposed Transaction between Tonogold and JAG Minerals as announced on April 11, 2024 remains unchanged. "

Qualified persons

Mr Andrew Hawker, BSc. Geol, MAIG, is a member of the Australasian Institute Geoscientists, is a consultant to the JAG Minerals USA, Inc. and is a Qualified Person as defined in National Instrument 43-101. Mr Hawker is in charge of exploration programs and has reviewed and approved the technical information contained in this news release.

Enquiries

For further information, please contact:

William Hunter
Interim CEO Tonogold Resources Inc
M: [phone]
E: [e-mail]

¹ Strathmore Minerals Corp, 9 ^th February, 2007

SOURCE: Tonogold Resources, Inc.

View the original press release on accesswire.com


The Tonogold Resources Stock at the time of publication of the news with a raise of +8,75 % to 0,004USD on Nasdaq OTC stock exchange (09. Mai 2024, 19:05 Uhr).