Sassy Resources (CSE:SASY, OTCQB:SSYRF) Corporation announced that diamond drilling has commenced at its Highrock uranium project in the Key Lake region of Saskatchewan’s Athabasca Basin.
The company noted that it signed a staged option agreement with Forum Energy Metals in January 2022 under which it may acquire up to a 100% interest in Highrock. Sassy is funding the 2022 diamond drill program while Forum is acting as project operator.
“We’re very excited to give Sassy shareholders exposure to the uranium sector and a project in the follow-up drilling stage that offers strong discovery potential,” CEO Mark Scott said in a statement. “Highrock also provides a seasonal complement to Sassy’s Foremore gold-silver project in Northwest BC’s prolific Eskay Camp.”
READ: Sassy Resources completes definitive option deal for Highrock uranium project in Saskatchewan
The Highrock uranium project is located just south and on trend of Cameco’s Key Lake mine and mill site where over 200 million pounds of uranium was produced at an average grade of 2.3% U3O8 (triuranium octoxide) during Key Lake’s mine life. Sassy said the 2022 exploration is focused on the discovery of basement-hosted mineralization similar to NexGen’s Arrow deposit and Cameco’s Eagle Point mine.
The company noted that gravity surveys previously conducted by Forum at Highrock identified numerous gravity lows along a 10-kilometre-long graphitic conductor. These may be zones of alteration associated with uranium mineral deposits.
Eight widely spaced drill holes by Forum in 2016 tested only 6 kilometres (km) of the conductor while 4 km at the southern end of the property remain untested as well as the strongest gravity low at the north end of the project. Zones of chloritization, bleaching, elevated boron and other pathfinder elements in the north and central areas of the conductor were detected by this initial drill campaign, the company said.
“The release of 2021 diamond drilling results from the company’s Westmore Discovery Zone at Foremore is imminent,” Scott continued.
"Meanwhile, the public listing of spinout Gander Gold Corporation, with its eight highly prospective exploration projects in the Central Newfoundland Gold Belt, is expected in March while MAX Power Mining Corporation, to which Sassy optioned its Nicobat claims in Northwestern Ontario, started trading on the CSE February 16," he added.
"The Sassy shareholder value proposition is stronger than ever and we are very pleased with the manner in which we have positioned the company for exploration success, year-round news flow, financial strength and market capitalization growth.”
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 option on the Highrock uranium project in the Key Lake region of Saskatchewan’s Athabasca Basin.
Contact the author at stephen.gunnion@proactiveinvestors.com