Atomic starts drill permitting at Harts Point

Nov 1, 2022

2022-11-01 14:54 ET – News Release

Mr. Clive Massey reports

ATOMIC MINERALS CORP. COMMENCES PERMITTING AT ITS HARTS POINT PROJECT IN SAN JUAN COUNTY, UTAH

Atomic Minerals Corp. has initiated the drill permitting process with the Bureau of Land Management (BLM) at its 6,500-acre Harts Point uranium project in San Juan county, Utah.

Clive Massey, Atomic Minerals chief executive officer and president, commented: “Permitting Harts Point is our No. 1 priority for the company. Application will be made to drill up to 25 holes, and we have engaged a local permitting service provider familiar with BLM permitting specifically in Utah to facilitate the process. We eagerly await receipt of our first drilling permit as we advance this project toward the discovery stage.”

Atomic plans to drill along the entire length of the Harts Point property, targeting hypothesized uranium mineralization associated with the Moss Back member of the Triassic Chinle formation. Atomic’s technical team believes the geological setting at Harts Point is identical to Lisbon Valley with uranium mineralization associated with the flank of a northwest-southeast-trending anticline, 19 miles to the northeast.

Harts Point has remained unexplored due to the previous lack of geological data and technical understanding of the Chinle formation in this area. The company’s interpretation of anomalies within previously unknown data from Gamma Ray logs indicate the presence of uranium within the base of the Chinle in historic oil and gas holes spaced 2.8 miles apart, supporting the technical team’s hypothesis.

Lisbon Valley encompasses the Big Indian mining district, which produced 77.9 million pounds of uranium oxide (U3O8) and 19 million pounds of vanadium from 16 large mines between 1952 and 1988 from the Triassic Chinle and Permian Cutler formations from relatively shallow depths to more than 2,550 feet. This production represents more than 80 per cent of the uranium ore mined in Utah during this time period. Ore grades averaged 0.34 per cent U3O8, making these the highest-grade and thickest-minable widths of all the large uranium mining districts discovered in the United States.

Atomic cautions investors the presence of uranium mineralization at Lisbon Valley is not necessarily indicative of similar mineralization at Harts Point.

The Harts Point project consists of 324 unpatented lode claims totalling more than 6,500 acres, in San Juan county, Utah, through its wholly owned American subsidiary, Recoupment Exploration Company LLC. Atomic Minerals Harts Point lies approximately 40 miles by road west of Energy Fuel’s White Mesa uranium mill.

About Atomic Minerals Corp.

Atomic Minerals is a Vancouver-based publicly listed uranium exploration company trading on the TSX Venture Exchange, with current assets in Saskatchewan’s Athabasca basin and the Four Corners region of the Southwest United States. The company is led by a highly skilled management and technical team with numerous previous successes in the junior mining sector.

Qualified person

Tim Henneberry, PGeo (British Columbia), is the qualified person under National Instrument 43-101 — Standards of Disclosure for Mineral Projects and is responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.

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https://www.atomicminerals.ca/