Foremost Clean Energy Announces Drilling at its Murphy Lake South Uranium Project
Foremost Clean Energy (NASDAQ: FMST) has announced the commencement of drilling at its Murphy Lake South Uranium Property in Saskatchewan's Athabasca Basin. The fully funded program will test high-priority structural corridors near the LaRocque Lake Conductive Corridor, home to IsoEnergy's Hurricane Deposit.
Historical drilling by Denison Mines (2008-2017) revealed promising uranium mineralization, including intercepts of 0.25% U₃O₈ over 6 meters and 0.13% U₃O₈ over 12.5 meters. The Phase 1 drilling program, scheduled for July 2025, will comprise approximately 1,500 meters of diamond drilling, targeting graphitic faults and offset structures at depths of 200-350 meters.
The 17,676-acre property is located 30 kilometers northwest of the McClean Lake mill and shows key indicators of an Athabasca unconformity-style uranium system.
Foremost Clean Energy (NASDAQ: FMST) ha annunciato l'inizio delle perforazioni presso la proprietà Murphy Lake South Uranium nella regione dell'Athabasca Basin, Saskatchewan. Il programma completamente finanziato testerà corridoi strutturali ad alta priorità vicino al LaRocque Lake Conductive Corridor, sede del deposito Hurricane di IsoEnergy.
Le perforazioni storiche condotte da Denison Mines (2008-2017) hanno rivelato mineralizzazioni promettenti di uranio, inclusi intervalli di 0,25% U₃O₈ su 6 metri e 0,13% U₃O₈ su 12,5 metri. Il programma di perforazione Fase 1, previsto per luglio 2025, comprenderà circa 1.500 metri di perforazioni diamantate, con l'obiettivo di studiare faglie grafitiche e strutture spostate a profondità tra i 200 e i 350 metri.
La proprietà, di 17.676 acri, si trova a 30 chilometri a nord-ovest del mulino McClean Lake e presenta indicatori chiave di un sistema di uranio in stile disconformità di Athabasca.
Foremost Clean Energy (NASDAQ: FMST) ha anunciado el inicio de la perforación en su propiedad de uranio Murphy Lake South en la cuenca de Athabasca, Saskatchewan. El programa totalmente financiado probará corredores estructurales de alta prioridad cerca del Corredor Conductivo LaRocque Lake, hogar del depósito Hurricane de IsoEnergy.
Las perforaciones históricas realizadas por Denison Mines (2008-2017) revelaron mineralización prometedora de uranio, incluyendo intercepciones de 0.25% U₃O₈ sobre 6 metros y 0.13% U₃O₈ sobre 12.5 metros. El programa de perforación de Fase 1, programado para julio de 2025, comprenderá aproximadamente 1,500 metros de perforación diamantina, enfocándose en fallas gráficas y estructuras desplazadas a profundidades de 200-350 metros.
La propiedad de 17,676 acres se encuentra a 30 kilómetros al noroeste del molino McClean Lake y presenta indicadores clave de un sistema de uranio tipo discordancia de Athabasca.
Foremost Clean Energy (NASDAQ: FMST)는 사스카치완 주 애서배스카 분지에 위치한 머피 레이크 사우스 우라늄 광산 부지에서 시추 작업을 시작했다고 발표했습니다. 전액 자금 지원 프로그램은 IsoEnergy의 허리케인 매장지가 위치한 LaRocque Lake 전도성 지대 인근의 우선순위가 높은 구조적 통로를 시험할 예정입니다.
Denison Mines가 2008년부터 2017년까지 수행한 과거 시추 작업에서는 6미터 구간에서 0.25% U₃O₈ 및 12.5미터 구간에서 0.13% U₃O₈의 유망한 우라늄 광화가 확인되었습니다. 1단계 시추 프로그램은 2025년 7월에 예정되어 있으며, 200~350미터 깊이의 흑연 단층과 이동 구조를 목표로 약 1,500미터의 다이아몬드 시추를 포함합니다.
이 17,676에이커 부지는 맥클린 레이크 광산 공장 북서쪽 30킬로미터에 위치하며, 애서배스카 불연속면 스타일 우라늄 시스템의 주요 지표를 보여줍니다.
Foremost Clean Energy (NASDAQ: FMST) a annoncé le début des forages sur sa propriété Murphy Lake South Uranium dans le bassin d'Athabasca en Saskatchewan. Le programme entièrement financé testera des corridors structuraux prioritaires à proximité du LaRocque Lake Conductive Corridor, site du gisement Hurricane d'IsoEnergy.
Les forages historiques réalisés par Denison Mines (2008-2017) ont révélé une minéralisation prometteuse d'uranium, incluant des intersections de 0,25% U₃O₈ sur 6 mètres et 0,13% U₃O₈ sur 12,5 mètres. Le programme de forage de phase 1, prévu pour juillet 2025, comprendra environ 1 500 mètres de forage diamanté, ciblant des failles graphitiques et des structures décalées à des profondeurs de 200 à 350 mètres.
La propriété de 17 676 acres est située à 30 kilomètres au nord-ouest de l'usine de McClean Lake et présente des indicateurs clés d'un système d'uranium de type discordance d'Athabasca.
Foremost Clean Energy (NASDAQ: FMST) hat den Beginn der Bohrungen auf seinem Uran-Grundstück Murphy Lake South im Athabasca-Becken in Saskatchewan bekannt gegeben. Das vollständig finanzierte Programm wird hochprioritäre strukturelle Korridore in der Nähe des LaRocque Lake Conductive Corridor testen, der das Hurricane-Lager von IsoEnergy beherbergt.
Historische Bohrungen von Denison Mines (2008-2017) zeigten vielversprechende Uranmineralisierung, darunter Abschnitte mit 0,25% U₃O₈ über 6 Meter und 0,13% U₃O₈ über 12,5 Meter. Das Phase-1-Bohrprogramm, geplant für Juli 2025, umfasst etwa 1.500 Meter Diamantbohrungen mit Fokus auf graphithaltige Störungen und versetzte Strukturen in Tiefen von 200-350 Metern.
Das 17.676 Acres große Grundstück liegt 30 Kilometer nordwestlich der McClean Lake Aufbereitungsanlage und weist wichtige Merkmale eines Uran-Systems im Athabasca-Unkonformitätsstil auf.
- Historical drilling revealed significant uranium mineralization with intercepts up to 0.25% U₃O₈
- Project is fully permitted and fully funded
- Strategic location near the Hurricane Deposit, one of the world's highest-grade uranium discoveries
- Relatively shallow drilling depths of 200-350 meters, enabling cost-effective exploration
- Historical results require additional verification per National Instrument 43-101
- Project is still in early exploration phase with no defined resource
Insights
Foremost begins drilling at its Murphy Lake South property in the Athabasca Basin, targeting areas adjacent to a high-grade uranium corridor.
Foremost Clean Energy's announcement represents a significant operational milestone as they prepare to commence drilling at their Murphy Lake South property in Saskatchewan's Athabasca Basin. The 1,500-meter Phase 1 program is targeting graphitic faults and offset structures near the LaRocque Lake Conductive Corridor, home to IsoEnergy's Hurricane deposit, which is among the highest-grade uranium discoveries globally.
The property's historical drilling results from Denison Mines (2008-2017) demonstrate promising uranium mineralization, including intercepts of
From a geological perspective, what makes this project particularly intriguing is its location within the Mudjatik Domain, historically overlooked in favor of the Wollaston Domain that hosts giants like McArthur River and Cigar Lake. IsoEnergy's Hurricane discovery has challenged this paradigm, demonstrating that high-grade deposits can exist in this previously undervalued geological setting.
The relatively shallow targets (200-350 meters depth) offer cost-effective exploration compared to deeper Athabasca projects, which can require drilling to 900+ meters. The property's proximity to infrastructure, including the McClean Lake mill approximately 30 kilometers away, could provide logistical advantages if exploration proves successful.
While this initial program represents early-stage exploration rather than resource definition, the combination of historical mineralization, favorable structural setting, and proximity to a proven uranium corridor makes this a technically sound exploration target. The fully funded and permitted status of the program indicates proper preparatory work and suggests the company can execute without immediate financing concerns.
VANCOUVER, British Columbia, July 02, 2025 (GLOBE NEWSWIRE) -- Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (“Foremost” or the “Company”), is pleased to announce that drilling is scheduled to begin this month at the Murphy Lake South Uranium Property (“Murphy”), which is located in the world-renowned Athabasca Basin region of northern Saskatchewan. This fully permitted and fully funded program is designed as a first phase of multiple potential phases, intended to test high-priority structural corridors adjacent to the renowned LaRocque Lake Conductive Corridor—host to IsoEnergy’s Hurricane Deposit, one of the highest-grade uranium discoveries in the world.
Murphy’s proximity to this corridor places it within a highly prospective structural environment, where recent exploration success has dramatically shifted perceptions of the area’s potential. The Hurricane discovery underscored the significance of graphitic fault systems and basement-rooted structures in the Mudjatik Domain, long overlooked in favor of the eastern Athabasca’s more celebrated Wollaston Domain.
Jason Barnard, President and CEO of Foremost, commented: “For years, uranium explorers focused their attention on the Wollaston Domain, and rightly so— as it produced giants like McArthur River, Cigar Lake, and Key Lake. Meanwhile, the Mudjatik Domain was considered a second-tier target, despite its deep structural complexity and close proximity to infrastructure. That mindset changed with IsoEnergy’s Hurricane discovery, which proved that world-class deposits can—and do—exist within the Mudjatik. At Murphy, we’re excited to be drilling a project with strong historical intercepts, relatively shallow unconformity depths, and clear signs of a mineralized hydrothermal system. Given its adjacency to the LaRocque Corridor and the presence of offset structures, graphitic units, and pathfinder element anomalies, we believe Murphy represents one of the best exploration opportunities in our portfolio of projects.”
The Murphy Lake South Property, covers 17,676 acres approximately 30 kilometers northwest of the McClean Lake mll and has been the focus of multiple historical drill campaigns by Denison Mines between 2008 and 2017. These programs identified uranium mineralization and key alteration features, including:
0.25% U₃O₈ over 6 meters (MP-15-031)0.13% U₃O₈ over 12.5 meters just above the unconformity (MP-16-112)0.03% U₃O₈ over 22.5 meters from 255 to 277.5 meters (MP-16-173)- Associated pathfinder elements such as nickel, cobalt, and boron1
Figure 1. Foremost Clean Energy Projects in Regional Context
Phase 1 drilling, is expected to begin later in July, and is planned to consist of approximately 1,500 meters of diamond drilling focused on graphitic faults and offset structures identified through past geophysics and geological interpretation. These targets are located within 200–350 meters of surface, offering an efficient test of the unconformity and underlying basement rocks. A Phase 2 winter program is contemplated to follow up on successful results and test additional conductive trends.
Murphy exhibits the essential hallmarks of an Athabasca unconformity-style system, including structural complexity, alteration, offset basement wedges, and conductive graphitic packages—all in a region that remains significantly underexplored.
Qualified Person
The technical content of this news release has been reviewed and approved by Cameron MacKay, P. Geo., Vice President of Exploration for Foremost Clean Energy Ltd., and a Qualified Person under National Instrument 43-101, who has prepared and reviewed the content of this press release.
A qualified person has not performed sufficient work or data verification to validate the historical results in accordance with National Instrument 43-101. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the property’s potential and are relevant for any future exploration program.
About Foremost
Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (WKN: A3DCC8) is a rapidly growing North American uranium and lithium exploration company. The Company holds an option to earn up to a
Foremost also has a portfolio of lithium projects at varying stages of development, which are located across 55,000+ acres in Manitoba and Quebec. For further information, please visit the Company’s website at www.foremostcleanenergy.com.
Contact and Information
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Jason Barnard, President and CEO
+1 (604) 330-8067
info@foremostcleanenergy.com
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Forward-Looking Statements
Except for the statements of historical fact contained herein, the information presented in this news release and oral statements made from time to time by representatives of the Company are or may constitute “forward-looking statements” as such term is used in applicable United States and Canadian laws and including, without limitation, within the meaning of the Private Securities Litigation Reform Act of 1995, for which the Company claims the protection of the safe harbor for forward-looking statements. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect,” “is expected,” “anticipates” or “does not anticipate,” “plans,” “estimates” or “intends,” or stating that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, continuity of agreements with third parties and satisfaction of the conditions to the option agreement with Denison, risks and uncertainties associated with the environment, delays in obtaining governmental approvals, permits or financing. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities. and information. Please refer to the Company’s most recent filings under its profile at on Sedar+ at www.sedarplus.ca and on Edgar at www.sec.gov for further information respecting the risks affecting the Company and its business.
The CSE has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
1 Saskatchewan Mineral Assessment File MAW01724
2 Saskatchewan Mineral Assessment File MAW02234
3 Saskatchewan Mineral Assessment File MAW02243
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/23176500-0a91-469d-bac0-80c506c76b29
FAQ
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