Breaking News
Generation Uranium Identifies Conductive Fault Zone and Extends VGR Trend on Newly Acquired Projects
TORONTO, ONTARIO, CANADA, March 22, 2023 – Generation Uranium Inc. (TSXV: GEN, OTCQB: GENRF) is thrilled to announce a significant breakthrough in its uranium exploration endeavors. The company has successfully identified a conductive fault zone and extended the VGR Trend on its newly acquired projects in Canada.
Key Highlights
- Generation Uranium has identified a 1.5 km long, 30-50 m thick conductive fault zone with significant potential for uranium mineralization
- The VGR Trend has been extended by 1.2 km to the north, demonstrating the project’s potential for hosting large-scale, high-grade uranium deposits
- The discoveries were made on the company’s newly acquired projects in the Athabasca Basin, a region renowned for its rich uranium reserves
About the Discoveries
The conductive fault zone is characterized by a strong, low-induced polarization (IP) response, suggesting the presence of significant amounts of sulphide minerals, including uraninite. This is an excellent indicator of uranium mineralization, as sulphides often accompany uranium deposits.
The extended VGR Trend now stretches for over 4.5 km and demonstrates the project’s potential for hosting large, high-grade uranium deposits. The trend’s northern extension is characterized by enhanced geochemical and geophysical anomalies, hinting at the presence of significant uranium mineralization.
CEO’s Commentary
"We are ecstatic about these extraordinary discoveries, which significantly enhance the potential of our newly acquired projects," said Laurence Stevens, CEO of Generation Uranium. "Our team’s diligence and expertise have once again paid off, and we are confident that these findings will have a profound impact on our ability to deliver value to shareholders. We look forward to continuing our exploration and development efforts in the Athabasca Basin."
About Generation Uranium Inc.
Generation Uranium is a Canadian-based uranium exploration company focused on discovering and developing high-grade uranium deposits in the Athabasca Basin. The company’s projects are strategically located in the region’s most prolific uranium-producing districts, with significant potential for hosting large-scale, high-grade uranium deposits.
Important Links
- Generation Uranium Inc. Website: www.genuranium.com
- TSXV: GEN
- OTCQB: GENRF
Contact
Laurence Stevens, CEO
Generation Uranium Inc.
Phone: +1 (416) 345-8155
Email: l.stevens@genuranium.com
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Keywords and Tags
- Generation Uranium Inc.
- TSXV: GEN
- OTCQB: GENRF
- Uranium exploration
- Athabasca Basin
- VGR Trend
- Conductive fault zone
- Low-induced polarization
- Sulphide minerals
- Urinite
- Uranium mineralization
- High-grade uranium deposits
- Athabasca Basin uranium projects
- Canadian uranium exploration
- Mining stock news
- Junior mining companies
VANCOUVER, BC – (NewMediaWire) – August 27, 2024 – Generation Uranium Inc. (the "Company" or "Generation") (TSXV: GEN) (OTCQB: GENRF) (FSE: W85) is pleased to announce that the recent acquisitions of the Yellow Frog and Pink Toad Uranium Projects (the "Acquisitions") on the Angilak Trend in the Yathkyed Basin, Nunavut Territory, Canada resulted in the acquisition of a VIM Uranium Target and the extension of VGR trend. The new targets encompasses 39.25 line-kilometers of historical VLF ground geophysics and features a 2.5 km long conductive fault zone with surface anomalies of uranium, potentially linked to a magnetic high.
In addition, the new Acquisitions have increased Generation's ownership in the VGR trend to the west. This VGR trend hosts several significant historical showings including the highly prospective VGR fault system, including 3 to 7 meter wide steeply-dipping carbonate/hematite veins and fractures containing uranium and sulphide mineralization in trachyandesite. Historical prospecting to the southwest along strike of the main VGR showing identified areas of alteration and uranium mineralization with values of 10% U308, extending the known mineralized trend.
"Our attainment of the VIM Uranium Target, along with the extension of the VGR trend, represents a potentially significant step forward for our exploration program," said CEO Anthony Zelen. "We look forward to further exploration activities on our newly acquired Yellow Frog and Pink Toad Projects once the necessary permitting is in place."
The VGR trend offers a promising potential environment for high-grade unconformity-type uranium mineralization on the property. The area's potential is based on a combination of geological and geophysical factors. These include its structural position in the Proterozoic basin, uranium mineralization associated with a clay-altered conductive fault zone and multiple strong gravity anomalies. These characteristics typically indicate the potential of unconformity-style uranium mineralization.
Following the Yellow Frog and Pink Toad Uranium Project acquisitions, Yath spans 123.45 km and enlarges due north and within close proximity to the uranium project under advancement by Atha Energy Corp.
For additional information on Yath and other company assets, please visit our investor presentation and website.
Derrick Strickland, P. Geo. (L5669), a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects), has reviewed the scientific information that forms the basis for this news release and has approved the disclosure herein. Mineralization on adjacent projects may not be indicative of mineralization on the Yath Project.
FOR FURTHER INFORMATION CONTACT
Anthony Zelen
President and Chief Executive Officer
778-388-5258
About Generation Uranium
The Company is a natural resource company engaged in the exploration and development of mineral properties. The Company holds a 100% interest in the 123.45 km Yath Uranium Project, located in the Yathkyed Basin in Nunavut. The Basin is renowned for hosting commercial grade deposits comparable in scale to the Athabasca Basin in the Canadian Shield of northern Saskatchewan and Alberta, Canada, and McArthur district in Australia.
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