IsoEnergy (TSX: ISO) has suspended drilling at its Larocque East uranium project in northern Saskatchewan after a wildfire prompted provincial authorities to evacuate the site.
The fire, believed to have been sparked by lightning, is burning in the vicinity of the project but is said to not be a direct threat to it. The Saskatchewan Public Safety Agency however judged conditions too dangerous for work to continue, forcing IsoEnergy to conduct an orderly evacuation of most of its field personnel.
Three contractors have stayed behind to run pumps and sprinkler systems as a precaution, with plans to pull them out immediately should the fire close in. Crews also moved to protect drill core storage and equipment before leaving.
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Provincial guidance suggests personnel could be away for up to a week, though that depends on how the fire behaves. The company said it is coordinating with authorities and seeking confirmation on what can be done to safeguard infrastructure while access remains restricted. Work will resume once it is deemed safe to return.
Based on current productivity and a typical summer drill season, IsoEnergy expects a one-week stoppage to leave its full program intact. The company began a program consisting of 8,000 metres of diamond drilling across as many as 20 holes in mid June, with the program focused on the Hurricane South Trend that runs east of its marquee Hurricane deposit. The campaign is built to chase down high grade hits from the winter season, when hole LE26-248 returned 4.21% U₃O₈ over 3.5 metres, including a 1.0 metre slice grading 11.61%.
Hurricane remains the centrepiece, holding an indicated resource of 48.6 million pounds U₃O₈ at 34.5% plus a smaller inferred component. Summer drilling is designed to step out along strike and test whether that mineralization extends beyond the current resource envelope.
IsoEnergy last traded at $14.38 on the TSX.
