Sassy Resources (CSE:SASY, OTCQB:SSYRF) said it has received drill permits for the Highrock Uranium Project in Saskatchewan’s Athabasca Basin through project operator Forum Energy Metals.
The company said it intends to execute an approximate 3,000-meter diamond drill program consisting of 10-12 holes. Mobilization for access to the drill sites by a winter haul road has commenced with drilling anticipated in February. Sassy and Forum will provide a thorough overview of the project plans once the drills are turning, it added.
Sassy noted that the property is located just south of the Key Lake mine and mill site. The Key Lake mine generated historic production of greater than 200 million pounds of uranium during its mine life. The Key Lake site continues to host a uranium processing facility operated by Cameco.
READ: Sassy Resources acquires Highrock Uranium Project in Saskatchewan’s Athabasca Basin
"We look forward to getting onto the Highrock property and following up on two main areas of interest previously identified by Forum,” Sassy’s vice president for exploration Ian Fraser said in a statement.
“The first area is immediately adjacent to the southernmost Key Lake project claim, testing a large gravity low that covers the same EM (electromagnetic) graphitic conductor that hosts the Key Lake deposits. The second area presents a series of gravity lows along the same EM graphitic conductor on the south part of the project."
Referring to an announcement made on January 6, 2022, Sassy said it has signed a binding letter of intent with Forum Energy Metals to acquire up to 100% of Highrock on terms spread out over four years. It said the drill-ready Highrock project is a potential high-impact exploration play that gives its shareholders exposure to a dynamic sector benefiting from the global energy transition, which is driving significant new investment in nuclear demand.
Forum will act as project operator for 2022 and 2023 - and also in 2024 at Sassy’s option.
Sassy Resources (CSE:SASY, OTCQB:SSYRF) is an exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade precious metal, base metal and uranium projects in North America.
Its focus is the Foremore Project located in the Eskay Camp, Liard Mining Division, in the heart of Northwest British Columbia’s prolific Golden Triangle, the Central Newfoundland Gold Belt where the company is one of the district’s largest landowners, and the recently acquired Highrock uranium project in the Key Lake region of Saskatchewan’s Athabasca Basin.
Contact the author at stephen.gunnion@proactiveinvestors.com