September 13, 2024 4:07 PM EDT | Source: Showcase Minerals Inc.
Calgary, Alberta–(Newsfile Corp. – September 13, 2024) – Showcase Minerals Inc. (CSE: SHOW) (FSE: ZJ0) (“Showcase” or the “Company”) is pleased to announce the completion of its Phase 1 exploration program on the Pontiac Uranium Project located in Quebec, Canada. This initial phase was designed to verify historical mineralization, assess exploration targets, and identify new potential areas of interest on the property. The exploration work included ground prospecting, geological mapping, sampling activities, and scintillometer radiometric surveys.
Program Highlights
Historical Sites: Three historical exploration work sites were revisited. High scintillometer readings were observed over an area measuring 230 to 250 meters long and 70 to 90 meters wide, suggesting significant potential for further exploration.
X-Ray Showing 1: This old, stripped area, largely covered by vegetation, revealed scintillometer gamma readings from 15,000 to 20,000 cps (counts per second), with peak readings reaching 55,000 cps at places. The site features a 2 to 3-meter-wide pegmatite outcrop.
X-Ray Showing 2: Located in a historical trench to the south of X-Ray 1, this 2 to 2.2-meter-wide pegmatite revealed surface radioactivity between 5,000 cps and 31,000 cps.
A small outcrop to the southeast of the X-Ray showings with readings between 12,000 to 38,000 cps, where an old drill casing was also discovered.
Northern Radiometric Anomaly: A high radiation showing in the northern area of the western claim block was found, where pegmatite subcrop revealed scintillometer readings between 10,000 and 42,000 cps.
Another area around the northeastern part of the western block was prospected for approximately 360-meter-long and 80-meter-wide outcrops of pegmatite/granite with scintillometer readings of 6,100 cps to 6,600 cps. This area is considered another good target for further exploration in future.
Eastern Property Prospects: Although lacking in historical exploration activity, the eastern part of the property showed favorable geology comprised of pegmatite and granitic outcrops with scintillometer readings in the range of 500 to 6,600 cps, pointing to the need for more detailed future work.
Sampling and Scanning: A total of 37 rock samples (grab and chip) were collected, along with 54 scintillometer scan surface readings from across the property.
“We are very encouraged by the initial findings from our Phase 1 exploration on the Pontiac Uranium Property. The strong scintillometer readings and promising geological indicators across multiple sites reaffirm our belief in the significant potential of this property. These results provide a solid foundation for our next phase of exploration, where we will further delineate these targets and continue to unlock the value of the Pontiac Uranium Project,” Kirk Reed, CEO of Showcase Minerals, commented.
Pending the successful results of Phase 1, Showcase plans to proceed with a Phase 2 work program, which will include trenching and stripping operations focused on defined targets for uranium exploration. Phase 2 work will also include further prospecting, geological mapping, and sampling work throughout the property.
Qualified Person
Afzaal Pirzada, P.Geo., a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the technical content of this news release.
About Showcase Minerals
Showcase Minerals is a Canadian mineral exploration company holding an option to acquire a 100% interest in the Pontiac Uranium Project, subject to a 2% net smelter returns royalty. The project encompasses 60 mineral claims situated near Fort Coulange in southwestern Quebec.
About the Pontiac Uranium Property
The Pontiac Uranium Property spans approximately 3,461 hectares and is located on NTS sheet 31F15, near Fort Coulange, Quebec. The site benefits from road accessibility via Highway 148 from Ottawa, supported by local infrastructure and a history of successful exploration. The property is situated within the Grenville Province, characterized by various geological formations, including migmatized paragneiss and granitoid intrusions. The uranium-thorium deposit discovered in 1955 is hosted in pegmatite and granite, with mineralization detected in areas up to 0.11% to 1.0% U3O8 and up to 16.0% ThO2.
For further information, investors are encouraged to review the Company’s filings available at www.sedarplus.ca.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223318
SOURCE: Showcase Minerals Inc.
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