Vancouver, British Columbia--(Newsfile Corp. - February 5, 2025) - Bayridge Resources Corp. (CSE: BYRG) (OTCQB: BYRRF) (FSE: O0K) ("Bayridge" or the "Company") has received assay results, confirming multiple targets from its Phase I exploration at the 11,142 ha Constellation uranium project in Canada's Athabasca Basin region.
Highlights:
Grab sample of 28.1 ppm uranium located 750m SE of historic SMDI occurrence, and along strike with a large cluster of uranium enriched samples, located on contact between basement gneiss and Wollaston Group sediments (Area A);
Grab sample of 52.2 ppm uranium associated with pegmatite bodies (Area A);
Grab sample of 488 ppm uranium associated with hematite altered metasediments intruded by a small granitic body (Area B);
Elevated uranium values associated with a pegmatitic body above an EM conductor (Area B);
Bayridge cautions investors grab samples are select samples by their nature and may not necessarily be indicative of similar mineralization on the property.
"The Company's first exploration program at Constellation has identified multiple high priority targets ready for follow-up exploration for basement hosted uranium mineralization," commented President & CEO, Saf Dhillon. "With our Level 2 drill permit in hand, we await the proposal for a maiden drill program late Q1 - early Q2 2025," he continued.
Area A
Two high priority targets were identified in Area A. Sample THCNR001 returned 28.1 ppm uranium with a U/Th (uranium/thorium) ratio of 1.67, located approximately 750 meters southeast of the historic SDMI occurrence, positioned along strike with a larger cluster of uranium-enriched samples, confirming previously seen radioactive occurrences. These occurrences are associated with a lithological contact between basement gneiss and Wollaston Group metasediments, a potential fluid pathway.
The second priority target contains multiple samples with elevated uranium concentrations correlating with mapped structural trends. The highest uranium value recorded was 52.5 ppm (sample THCNR004), while the highest U/Th ratio of 0.33 was observed in sample MHCNR002. The uranium mineralization in these areas is hosted in pegmatites conformable to the regional structural fabric. Scintillometer measurements in these locations exhibited anomalously high counts per second, further delineating areas of potential mineralization.
Area B also hosts two high priority targets. A new uranium-bearing zone in Area B exhibited highly anomalous scintillometer readings, with several locations exceeding the instrument's upper limit of 65,535 cps (EECNR006). The host rock consists primarily of psammitic to pelitic gneisses exhibiting pervasive hematite alteration, with moderate-intensity hematization locally associated with thin quartz bands. The gneisses, conformable to the regional structural trend, were intruded by a weathered small scale radioactive granite intrusion. The weathering potentially contributes to the enrichment of radioactive material in the surrounding zone. This area yielded the highest uranium concentration on the property, with a value of 488 ppm uranium recorded in whole-rock analysis, thorium enrichment in the zone resulted in U/Th ratios below 0.1.
The second priority target exhibits elevated uranium within a pegmatite (EECNR005, Map B) displayed elevated uranium concentrations directly overlying an EM conductor. This association suggests a potential relationship between structural features and uranium mineralization, as indicated by the geophysical and geochemical data collected during the program.
The Bayridge technical team met with geological contractor TerraLogic Exploration Ltd. at the recent AME Round Up in Vancouver to review the Phase I program. TerraLogic will now work up a Phase I drill program for late Q1 early Q2 2025.
The Constellation property has favourable geology for basement-hosted unconformity-style uranium deposits. The regional geology and magnetics have defined structural lineaments trending NNW and ESE, which could represent structural conduits between the Archean granite inlier and graphitic metasediments that have been mapped on the property. These types of structural zones typically act as pathways for hydrothermal activity. Historical NE-trending conductors have also been outlined on the property but are under-explored and un-drilled. Strong EM conductors are proven targets associated with unconformity and basement-hosted uranium mineralization in and around the Athabasca Basin.1
Bayridge has the right to earn up to an 80% interest in Constellation through a series of cash payments, share issuances and exploration expenditures over the next 4 years. Constellation is located 60 km southwest of the Key Lake Mine, and is accessible via helicopter or float plane, with potential winter road access from Highway 914.
R. Tim Henneberry, P.Geo. (BC), and a Consultant and Advisor to the Company, is the Qualified Person under National Instrument 43-101 who has reviewed and approved the technical content of this release.
QA/QC
All exploration rock samples from the program were hand delivered to the Saskatchewan Research Council Geoanalytical Laboratories (SRC) in Saskatoon, Saskatchewan, by TerraLogic Exploration Ltd. personnel. Both SRC and TerraLogic are independent of Bayridge Resources Corp. SRC prepared, processed, and conducted multi-element analysis by ICP-MS and ICP-OES using total (HF:NHO3:HClO4) and partial digestion (HNO3:HCl) as well as boron by fusion.
All samples submitted were representative grab samples from outcrop or sub-crop exposures. SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. Blanks and standard reference materials were inserted into the sample stream at regular intervals by TerraLogic on in accordance with Bayridge's quality assurance/quality control (QA/QC) procedures. Geochemical results were subject to verification procedures by qualified persons employed by TerraLogic prior to disclosure.
About Bayridge Resources Corp.
Bayridge Resources Corp. is a green energy company advancing its portfolio of Canadian uranium and lithium projects. The 1,337 ha Waterbury East project is located 25 km northeast of the Cigar Lake Mine in the northeastern Athabasca Basin region. Geophysical surveys have identified a 7km long conductivity corridor where mid-2000's drilling highlighted faulted and altered basement rock with local uranium enrichment. Large sections of this corridor remain untested. The 11,142 ha Constellation project is located 60 km south of the present-day Athabasca Basin edge in an area of significant exploration activity for basement hosted uranium. Historic airborne radiometric, electromagnetic, and magnetic surveys identified electromagnetic conductors associated with magnetic lows. The 4,413 ha Sharpe Lake project, located in the Red Lake Mining District of Northern Ontario, hosts peraluminous S-type muscovite bearing pegmatite bearing granites in contact with metasediments. Preliminary sampling has highlighted anomalous rare-element values, potentially indicative of lithium mineralization.
For more information, please contact:
Saf Dhillon, President & Chief Executive Officer E-mail: saf@bayridgeresources.com Tel: 604-484-3031
Forward-looking information
Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding the Company's exploration and drill campaign plans at Constellation, enhanced magnetic and electromagnetic anomalies at Constellation, undertaking drilling at Constellation without additional financing or dilution and potential uranium and lithium discovery for the Company's projects. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.
The CSE has not reviewed, approved, or disapproved the contents of this press release.
1 The Company cautions that similar results on its Constellation Project are not implied.
