01.07.2024 08:00:05 - dpa-AFX: GNW-Adhoc: Bedford Metals Completes Satellite Survey at Ubiquity Lake Uranium Project
VANCOUVER, British Columbia, July 01, 2024 (GLOBE NEWSWIRE) -- Bedford Metals
Corp. (http://www.bedfordmetals.com) (TSX-V: BFM) (the "Company" or "Bedford")
is pleased to announce the successful completion and assessment of its VNIR
(Visible Near Field Infrared) and SWIR (Shortwave Infrared) satellite
investigation at the Ubiquity Lake Uranium Project, just south of the Athabasca
Basin, Saskatchewan.
The statistical analysis, conducted by Dr. Neil Pendock, PhD in Applied
Mathematics, identified several key indicators for uranium mineralization. The
investigation revealed anomalous helium emissions and methane, the latter of
which is interpreted as altered clays, particularly illite.
At Ubiquity Lake, the principal target zone (TZ1) is a 3.6km northwest-trending
fault, striking at an angle roughly 90 degrees to the Cable Shear fault. The
satellite survey identified a large but well-defined methane gas anomaly that
correlated strongly with the footprint of TZ1. Methane gas is a marker for
illite, which forms through hydrothermal alteration - the primary mechanism
responsible for uranium deposition in the Athabasca Basin region.
Additionally, the survey revealed multiple highly anomalous helium blooms over
TZ1 and other prospective areas, with the greatest intensities near radioactive
boulder fields. These boulder fields have been identified and confirmed through
multiple prospecting surveys. Like radon gas, helium is a first-order decay
product of uranium, and its presence strongly correlates with uranium deposits.
Peter Born, President of Bedford (http://www.bedfordmetals.com), commented, "I
am greatly encouraged by the results of our satellite survey at Ubiquity Lake.
The identification of these key uranium markers provides us with further
confidence in our ability to make a discovery at Ubiquity Lake. These findings
will guide our future exploration efforts and help us focus on the most
promising targets."
Bedford (http://www.bedfordmetals.com) remains committed to conducting all
exploration activities to the highest environmental standards. The Company is
dedicated to minimizing its environmental footprint and ensuring that all
operations are sustainable and responsible. Additionally, Bedford
(http://www.bedfordmetals.com) values its relationships with local communities
and indigenous groups and is committed to working collaboratively to ensure that
its activities benefit these stakeholders.
Dr. Peter Born, P.Geo., is the designated qualified person as defined by
National Instrument 43-101 and the president of the Company and is responsible
for and has approved the technical information contained in this release.
About Bedford Metals Corp.
Bedford Metals Corp. (http://www.bedfordmetals.com) is a mineral exploration
company. We create value for our shareholders by identifying and developing
highly prospective mineral exploration opportunities. Our strategy is to advance
our projects from discovery to production.
The Ubiquity Lake Uranium Project, covering 1382 hectares, lies just south of
the bottom lip of the Athabasca Basin, adjacent to ALX Uranium's Carpenter Lake
Project to the east. Situated near the Cable Bay Shear Zone, parallel to the
Virgin River Shear Zone, which hosts Cameco's Centennial uranium deposit, the
project (https://bedfordmetals.com/ubiquity-lake-uranium-project/) holds immense
potential. Furthermore, it is located 100 km west of Cameco's past-producing Key
Lake uranium mine, underscoring the strategic significance of its location.
The Close Lake Uranium Project lies on the eastern side of the Athabasca Basin,
adjoining claims held by Cameco Corporation, the largest uranium producer in the
world. The claim is approximately 245 hectares and lies within the primary
exploration corridor, which hosts the Keys Lake Mine, the Cigar Lake Mine and
the McArthur River Mine. Access to the property is done through a network of
roads and trails.
For further information, please contact the Company at info@bedfordmetals.com
(mailto:info@bedfordmetals.com) or 604-622-1199 or visit the Company's website
at www.bedfordmetals.com (http://www.bedfordmetals.com/).
On behalf of the Board,
Bedford Metals Corp.
"Peter Born"
President
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term is defined in policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to
risks and uncertainties. All statements within, other than statements of
historical fact, are to be considered forward looking. Although the Company
believes the expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially from those
in forward-looking statements. There can be no assurances that such statements
will prove accurate and, therefore, readers are advised to rely on their own
evaluation of such uncertainties. We do not assume any obligation to update any
forward-looking statements except as required under the applicable laws.
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