On September 21st, IsoEnergy (TSXV: ISO) announced initial scintillometer results, which were done over the summer at the Hurricane Zone. There were 4 sections outlined in the news release. The first being LE21-78C1 or Section 4460E, where the company intersected 12.0m of uranium mineralization from 248.5 to 260.5m, this includes 2.0m of strong mineralization.
The next drill hole is LE21-80 or Section 4435E, where the company intersected 3.5m of uranium mineralization from 326.0m to 329.5m. The third hole was LE21-82 or Section 4485E which intersected 4.5m of uranium mineralization from 328.5 to 333.0m. The last drill hole, called LE21-84 or Section 4435E intersected 3.0m of uranium mineralization from 326.5 to 329.m.
Haywood Capital Markets reiterated their buy rating while raising their 12-month price target to C$7, or a 25% upside on the stock, saying that the news is highly positive. Specifically, the results expanded the maximum width and thickness to 94m and 12m respectively, a positive development for the company.
Haywood Capital Markets calls IsoEnergy the “best new uranium discovery out there.” Haywood says that there are few new high-grade discoveries of scale happening currently, especially ones that have been validated through multiple intersections.
Haywood writes, “ISO has been successful in further supporting our thesis that the Hurricane Zone will grow into a significant new high-grade discovery.” They additionally raised their target range for Hurricane’s maiden resource to 55-75 million pounds of U3O8.
Information for this briefing was found via Sedar and Refinitiv. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.