Palm Beach, FL – September 20, 2022 – FinancialNewsMedia.com News Commentary – Recently, there has been more focus on alternative energy sources and a revisited use of nuclear power as a larger part of the solution. Market Business Insider on Yahoo discussed this saying that: “Uranium stocks are on the move as more and more country leaders are appreciating the benefits of nuclear power amid a global energy crisis. The potential renaissance in nuclear power comes six months after Russia invaded Ukraine, sparking a surge in energy prices as economic sanctions against Russia’s oil markets piled up and as Russia slowed its exports of natural gas to Europe to a trickle.” It said: “Nuclear power is a clean form of energy production when the uranium waste is properly stored, and its relatively cheap to operate after the power plant has been built. Understanding this predicament, Belgium has become the latest country, joining the US, France, and others, to extend the licenses of two of its nuclear power plants. And in what could become a major turning point for nuclear power, Japan has signaled an openness to building new power plants more than a decade after a devastating tsunami damaged the Fukushima nuclear power plant.” Active companies in the markets today include: BASIN URANIUM CORP. (OTCPK: BURCF) (CSE: NCLR), Denison Mines Corp. (NYSE: DNN) (TSX: DML), Rio Tinto Group (NYSE: RIO), Uranium Energy Corp (NYSE: UEC), American Resources Corporation (NASDAQ: AREC).
The article continued: “That nuclear disaster sparked a global movement away from nuclear reactors, with Germany especially moving towards the swift retirement of nuclear power. Now it’s dealing with the consequences as electricity prices jump ten-fold in less than a year. Japanese Prime Minister Fumio Kishida said last week that the country would evaluate the potential build of new nuclear power plants and restarting idled plants to prevent its electricity grid from becoming overwhelmed with strong demand and little supply. Tesla CEO Elon Musk is applauding the move back towards nuclear. In response to a Twitter post of a Wall Street Journal article talking about the revitalized nuclear power sector, Musk said “wise actions.”
BASIN URANIUM CORP. (CSE: NCLR.CN) (OTCPK: BURCF) BREAKING NEWS: BASIN URANIUM COMMENCES PHASE TWO DIAMOND DRILLING PROGRAM AT MANN LAKE – BASIN URANIUM CORP. (“Basin Uranium” or the “Company”) is pleased to announce the commencement of a Phase two diamond drilling program at its Mann Lake project located 25 km southwest of the McArthur River Mine and 15 km to the northeast along strike of Cameco’s Millennium uranium deposit.
- Phase two drilling is designed to follow-up on exciting targets generated from phase one drilling and recently completed geophysical surveys at Mann Lake.
- Approximately 4,000 meters of core drilling is planned for phase two covering the southern portion of the project
- The first hole of phase two will follow up on uranium mineralization in hole MN22-002 (see Company’s news release dated September 7, 2022)
- Drilling will also test conductive zones and structures identified in this summers Mobile MT survey along the unconformity contact that corresponds to prevalent gravity lows located near the southeastern portion of the project (see Company’s news release dated September 13, 2022)
“We are excited to be back at Mann Lake for phase two drilling.” Commented Mike Blady, CEO of Basin Uranium. “Our fully funded fall program will build off of our spring and summer exploration work and will continue to vector towards additional mineralization hosted on the project.” CONTINUED… Read the BASIN URANIUM full press release by going to: https://basinuranium.ca/news/
In other news and developments of note in the markets this week:
Denison Mines Corp. (TSX: DML) (NYSE American: DNN) recently reported that drill hole WF-74A intersected 4.75% eU3O8over 13.3 metres (0.05% eU3O8 cut-off), including a sub-interval grading 25.23% eU3O8 over 0.5 m, as part of the recently completed summer exploration program at the Waterfound River property (“Waterfound”).
Uranium mineralization was encountered in three of the seven drill holes completed during the summer exploration program, following up on the winter 2022 discovery of high-grade mineralization approximately 800 metres to the west of the Alligator Zone. The discovery from the winter 2022 program was highlighted by drill hole WF-68, which returned a mineralized interval of 5.91% eU3O8 over 3.9 metres (see press release dated March 29, 2022). Figure 1 and Figure 2 depict the location of the Alligator Zone and the 2022 summer drilling, respectively.
Rio Tinto Group (NYSE:RIO) Rio Tinto (54 per cent) and China Baowu Steel Group Co. Ltd (Baowu) (46 per cent) have recently agreed to enter into a joint venture with respect to the Western Range iron ore project in the Pilbara, Western Australia, investing $2 billion ($1.3 billion Rio Tinto share1) to develop the mine.
Western Range’s annual production capacity of 25 million tonnes of iron ore will help sustain production of the Pilbara Blend from Rio Tinto’s existing Paraburdoo mining hub. The project includes construction of a primary crusher and an 18 kilometre conveyor system linking it to the existing Paraburdoo processing plant. Construction is expected to begin in early 2023 with first production anticipated in 2025. The construction phase will support approximately 1,600 jobs with the mine requiring about 800 ongoing operational roles which are expected to be filled by existing workers transitioning from other sites in the Paraburdoo mining hub.
Uranium Energy Corp (NYSE: UEC) recently announced that it has filed a Technical Report Summary (“TRS”) on EDGAR disclosing updated mineral resources for the Company’s Wyoming ISR Hub and Spoke Project (the “Project”).
Background: As a U.S. domestic and domiciled company, UEC is now reporting all mineral resources in accordance with Item 1302 of Regulation S-K (“S-K 1300”); S-K 1300 was adopted by the Securities and Exchange Commission (the “SEC”) to modernize mineral property disclosure requirements for mining registrants and to align U.S. disclosure requirements more closely for mineral properties with current industry and global regulatory standards; and The mineral resource estimates set forth in this TRS for Charlie, Clarkson Hill, Nine Mile and Red Rim have not previously been reported under the S-K 1300 format. The remaining resources were reported on April 5, 2022.
The TRS was prepared under S-K 1300 and was filed on September 14, 2022 with the SEC through EDGAR on Form 8-K and is also available on SEDAR as a “Material Document” filed on September 14, 2022. The TRS was prepared on behalf of the Company by WWC Engineering, of Sheridan, Wyoming.
American Resources Corporation (NASDAQ: AREC), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification marketplace, recently announced that its majority owned subsidiary, ReElement Technologies LLC, has commenced engineering, planning and development for its second lithium-ion battery and rare earth magnet recycling and metal recovery facility utilizing its patented chromatography technology to produce 99.9%+ pure critical battery material and 99.5%+ rare earth elements.
Mark Jensen, Chief Executive Officer of American Resources Corporation commented, “The opportunity to continue the growth of our ReElement division is real and present given the demand for domestically produced battery and magnet grade materials. With the recent passing of the Inflation Reduction Act and the rapid adoption of electric vehicles the demand for such products is seeing rapid grow, and the versatility of our technology enables us to move quickly and cost effectively to provide a real solution. Beyond this facility, we are in numerous discussions on potential joint venture opportunities for customized, co-located facilities in both the United States and Europe. Given the minimal environmental and land footprint required of our process, we can efficiently expand our operations as the supply of end-of-life materials expands versus overbuilding and running inefficiently in the early years, but also expand rapidly in the out years as the market and feedstocks expand. Additionally, given our corporate structure, we have the ability to finance this project through non-dilutive sources at the ReElement level.”
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third- party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated twenty five hundred dollars for news coverage of current press release issued by BASIN URANIUM CORP. by a non-affiliated third party.
FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Media Contact email: firstname.lastname@example.org – +1(561)325-8757