CORRECTION - Clean Commodities Corp. Commences Airborne Geophysical Program at Preston Uranium Project
Clean Commodities Corp. Commences Airborne Geophysical Program at Preston Uranium Project in the Athabasca Basin, Saskatchewan
VANCOUVER, October 31, 2016 - Clean Commodities Corp. (TSX VENTURE: CLE) ("Clean Commodities" or the "Corporation") is pleased to announce that it has commenced a field program, in conjunction with project partner Skyharbour Resources Ltd., consisting of an airborne electromagnetic (EM) and magnetic survey on the Preston Uranium Project, which is one of the largest tenure positions in the Patterson Lake (PLS) area totalling over 121,249 hectares (nearly 300,000 acres). The Preston Uranium Project is a strategic, district-scale tenure position located near NexGen Energy Ltd.'s high grade Arrow deposit hosted on its' Rook-1 property and Fission Uranium Corp.'s Triple R deposit located within their PLS Project area.
Figure 1 - Preston Uranium Project Map and Regional Exploration Corridors: http://ow.ly/5V7z305GlJL
The helicopter-borne EM and magnetic geophysical survey will be flown using Geotech Ltd.'s VTEM plus time-domain system at a line spacing of 300m over 300 line kilometers in the north-central region of the Preston project. The survey intends to define the extensions of prospective conductive trends identified during previously completed surveys, similar in nature to those that host the high-grade Triple R and Arrow deposits located less than 25 kilometres to the north.
Prior airborne surveys have delineated more than 360 linear kilometres of prospective EM conductors in 6 distinct uranium exploration corridors, out of which less than 10 kilometres have been investigated by widely-spaced diamond drilling. Surveying is anticipated to be completed during the first-half of November.
The significant potential of the Western Athabasca Basin is highlighted by recent discoveries in the area by NexGen Energy and Fission Uranium which now rank as some of the highest grade and largest undeveloped uranium deposits in the world. Clean Commodities and its partner in the Western Athabasca Syndicate carried out a large regional exploration program in the relatively underexplored south-western side of the Athabasca Basin over the last three years. A total of over $4.7 million in expenditures on the Preston Uranium Project has been incurred including ground gravity, airborne and ground EM and magnetics, radon, soil, silt, biogeochem, lake sediment, and geological mapping surveys, as well as boulder prospecting and exploratory diamond drilling programs. Fifteen high-priority drill target areas associated with six prospective exploration corridors have been successfully delineated through this methodical, multi-phased exploration initiative which has culminated in an extensive, proprietary geological database for the project area.
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 Resources Ltd.'s Head Technical Advisor and a Qualified Person.
About Clean Commodities Corp.
Clean Commodities Corp. (TSX VENTURE: CLE) is an exploration company holding a diverse portfolio of clean commodity assets including lithium, uranium, and PGE projects. For more information, please visit www.cleancommodities.com.
Ryan Kalt, Chief Executive Officer
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.
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Chief Executive Officer