Senator Minerals Inc.
TSX VENTURE : SNR
OTC PINK : SNRAF
FRANKFURT : T1KA

Senator Minerals Inc.

July 05, 2017 17:25 ET

Senator Minerals Applies For Exploration Permit for Carter Lake Uranium Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 5, 2017) - Senator Minerals Inc. (TSX VENTURE:SNR)(OTC:SNRAF)(FRANKFURT:T1KA) ("Senator" or the "Company") is pleased to announce that it has applied for permits for the 2017 exploration program for its 100% owned Carter Lake Uranium Project in the south-western corner of the Athabasca Basin, Saskatchewan. The program calls for 25 kilometers of a ground gravity survey as well as an extensive radon gas survey. The purpose of the program is to identify subsurface anomalies which may be indicative of hydrothermal alteration and to test for the presence of radioactivity and its possible relation to the subsurface conductor, identified through a VTEM survey in 2008.

About the Carter Lake Uranium Project

The Carter Lake Project lies near the eastern edge of the Clearwater Domain, ~21km northeast of the Patterson Lake property, which has a reported NI 43-101 resource estimate of total of 2,011,000 tonnes of 1.83% U3O8 containing 81,111,000 pounds of U3O8 including the R780E High Grade Zone estimated to contain 45,079,000 pounds U3O8 @ 18.22% U3O8 and an inferred Mineral Resources are estimated to total 785,000 tonnes @ 1.57% U3O8 containing 27,157,000 pounds of U3O8 including the R780E High Grade Zone estimated to contain 13,898,000 pounds U3O8 @ 25.06% U3O8. (Fission Uranium Corp. PEA September 14, 2015.) Nexgen Energy has reported (March 31, 2017) that the Arrow Deposit's Mineral Resource comprises an Indicated Mineral Resource of 179.5 M lbs of U3O8 within 1.18M tonnes grading 6.88% U3O8, and an Inferred Mineral Resource of 122.1 M lbs of U3O8 contained within 4.25 M tonnes grading 1.30% U3O8.

The Carter Lake Project, which borders Purepoint/Cameco/AREVA's Hook Lake Project to the east, has basement depths estimated at between 400-500m, within the general discovery range of the McArthur River mine. The principal exploration target at Carter Lake is ~4.7km of subsurface conductive anomalies, identified in a 2006 MegaTEM survey and a 2008 VTEM survey, both completed by ESO Uranium Corp. The anomalies are interpreted as a conductive horizon, at or above the unconformity and which may be indicative of hydrothermal enrichment.

Senator Minerals is a junior mineral explorer focused on uranium exploration in northern Saskatchewan. Senator has entered into an agreement with an arm's-length vendor to acquire a 100-per-cent interest in the Patterson North East (PNE) uranium project, located on the east side of the Athabasca basin in Northern Saskatchewan, the most productive uranium-producing region in the world.

Peter Born, P.Geo., a Qualified Person, has reviewed and approved the disclosure of technical information within this news release.

Tim Fernback, President & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Statements in this release that are forward-looking information are subject to various risks and uncertainties concerning the specific factors disclosed here. Information provided in this document is necessarily summarized and may not contain all available material information. All such forward-looking information and statements are based on certain assumptions and analyses made by management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading "Risks Factors" in the Company's most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information or statements.

Contact Information

  • Tim Fernback
    604-340-3774