VANCOUVER, BC -June 26, 2024 – Generation Uranium Inc. (“Generation” or the “Company”) (TSXV:GEN) (OTCQB:GENRF) (FRA:W85) is pleased to announce that following the recent review on its 100% wholly-owned Yath Uranium Project (“Yath”) in Nunavut, Canada, the Company has identified several geologically significant areas of interest on the property.
– The VGR Trend contains radioactive boulders and structures extending over a three-kilometer conductive trend on the property.
– The Bog Trend is identified as a radioactive outcrop and subcrop, and frost heaved boulders are found along three kilometers within the trend.
– The Force Trend contains mud boils and subcrop with radioactive characteristics.
– The Lucky Break area contains radioactive polymetallic sulphide and pitchblende.
VGR Trend: The VGR trend is located in the Yathykyed sub-basin, near the northwest corner of the Yath Property. This zone spans 5 kilometers along a fault line, showing high levels of radioactivity and favorable clay-silica alterations. It features a 3 to 7-meter-wide, steeply-dipping vein and fracture system made of carbonate and hematite, which contains radioactive and sulphide minerals. Radioactive boulders and structures can be traced for over 3,000 meters, making the VGR trend a promising target for mineral exploration.
Bog Trend: The Bog Trend is found in an area of broken basement rock cut through by dykes from the Christopher Island Formation. Previous studies identified a southwest-trending fault line that has yet to be drilled. Radioactive rocks and boulders have been found along a three-kilometer stretch, mostly covered by loose soil. The uranium and sulphide appear to be concentrated in areas where the rock has been fractured and altered by the intruding dykes.
Force Trend. The Force Trend is in the central part of the property, with gneissic rock and mafic schist underneath. It contains unique geological features such as radioactive mud boils and subcrop. These mud boils are areas where radioactive materials, likely including uranium, are brought to the surface by geothermal activity or pressure from below, creating visible mounds or boils. The subcrop are rock formations found just below the surface and not fully exposed above ground. Both features suggest the presence of uranium-bearing hematite breccias and veins, likely controlled by the area’s geological structure.
Lucky Break Area: The Lucky Break area features several highly radioactive rocks containing multiple metals and pitchblende in quartz-carbonate breccia veins found just below the surface. The polymetallic sulphides are minerals composed of multiple metals, often including copper, lead, zinc, and nickel. When these sulphides are radioactive, it may indicate the presence of uranium or thorium, adding to the area’s exploration potential.
“I am thrilled about our latest achievement in identifying four promising zones on our promising uranium project at Yath,” stated Generation President and Chief Executive Officer, Anthony Zelen. “This marks a significant milestone in our mission to identify the key zones and characteristics of interest, as we work towards scaling up exploration activities on the property in the months ahead.”
With prior investments totaling over $5 million from past exploration and sampling activities at Yath, and the Company’s continuous analysis of vast amount of past data from these activities. Generation Uranium expects further insights as they emerge with the goal of enhancing our strategic approach regarding necessary preparations leading into a future drill campaign. This upcoming phase signifies a pivotal step in our commitment to advancing our understanding and unlocking the full potential of Yath.
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
For additional information on Yath and other company assets, please visit our investor presentation and website.
FOR FURTHER INFORMATION CONTACT
Anthony Zelen
President and Chief Executive Officer
Anthony@generationuranium.com
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 Yath Uranium Project, located in the Territory of Nunavut.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Neither 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. The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.
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