Foremost Clean Energy plans $6.5 million exploration program, Saskatchewan

Foremost Clean Energy Ltd. [CSE: FAT; NASDAQ: FMST] plans for a $6.5 million exploration program in 2025 across its portfolio of uranium properties in the Athabasca basin region in Northern Saskatchewan. The program includes the recently announced follow-up drill program on the Hatchet Lake uranium property as well as planned exploration on the Murphy Lake South, GR, Blackwing, Wolverine and CLK properties.

Following an initial evaluation of the exploration potential of the 10 properties under option from Denison Mines Corp. [TSX: DML; NYSE: DNN], Foremost identified several exploration priorities for 2025. The extensive program will include drilling, geophysical surveys and geochemical exploration with a focus on identifying and testing discovery-ready targets across the Athabasca basin. Utilizing systematic and disciplined testing of discovery-ready drill targets, the program is expected to also generate additional new exploration targets on several underexplored properties.

Jason Barnard, president and CEO of Foremost, stated: “With portfolio of 10 uranium exploration properties, attractively situated in the world-renowned Athabasca basin region, Foremost is uniquely positioned with multiple discovery-ready properties supported by years of early stage exploration work carried out by Denison. This $6.5 million exploration program is the next step in our collaboration with Denison and marks a pivotal moment for Foremost Clean Energy as the company embarks on its most ambitious exploration program.”

The Murphy Lake South uranium property comprised six mineral claims totalling 17,676 acres/7,153 hectares, located approximately 30 km northwest of the McClean Lake mill, within the eastern edge of the Athabasca basin, Saskatchewan. Murphy is located proximal to the La Rocque Lake conductive corridor, which hosts the Hurricane, Alligator and LaRocque uranium deposits.

The property is considered to have high potential for identifying uranium mineralization due to its proximity to the Laroque Lake conductive corridor, shallow depth to the unconformity and its virtually untested basement potential. Foremost is currently developing exploration drilling plans on numerous existing drill-ready targets with the expected work to be carried out in two phases:

Phase 1 drilling: Expected to be scheduled for summer 2025 consisting of approximately 1,500 metres of diamond drilling targeting the unconformity intersection of semi-brittle graphitic faults identified from historical drilling where anomalous uranium concentrations were returned from assay results.

Phase 2 drilling: A winter drilling program is anticipated for late 2025; the program focus testing geophysical anomalies that may represent brittle structures graphitic horizons coincident with clay alteration.

Historical drilling identified great potential with the La Rocque conductive corridor, host to the Hurricane deposit and other showings, adjacent and overlying the western property boundary.

The CLK property comprised two claims, over 25,753 acres/10,422 hectares located approximately 30 km south of the northern edge of the Athabasca basin. The CLK project lands capture a portion of the NE edge of the Snowbird tectonic zone, known to host several uranium occurrences. Only two holes have previously been drilled on the property, with uranium mineralization identified in both holes. Foremost is currently planning to conduct an airborne EM and magnetic survey, followed by a 2,000-metre diamond drilling program to follow-up on the historical intersections of pitchblende and geophysical anomalies.

The Wolverine property comprised three mineral claims totalling 12,444 acres/5,036 hectares located on the southeastern edge of the Athabasca basin, approximately 15 km southeast of Cameco’s Cigar Lake mine. The depth to the unconformity is relatively shallow, between 140 metres and 250 metres. Historical drilling identified uranium mineralization hosted in faulted pegmatite (basement lithologies). The company is currently planning a geochemical survey, expected to be completed in summer 2025, to potentially identify zones of uranium enrichment or pathfinder elements coincident with prospective conductive trends, which could result in the identification of attractive targets for future drill testing.

The Blackwing property comprises two mineral claims covering 25,753 acres/10,422 hectares within the northwestern portion of the Athabasca basin. It is proximal to key regional structures, such as the Black Bay fault and Grease River shear zone, which are ideal structural corridors with a strong potential to host uranium mineralization.

The GR property encompasses 16 mineral claims, covering 19,4187 acres/78,585 hectares, just south of the Blackwing, and covers 70 km of the Grease River shear, a regional structure that coalesces with the Snowbird Tectonic zone, about 225 km to the northeast of the property. Up to seven km of lateral offset is observed along the Grease River shear within the project lands, giving rise to a large target area that could be analogous to the Cigar Lake-style model of uranium mineralization desposition.

Foremost is currently planning to conduct airborne electromagnetic (EM) and magnetic surveys at the GR and Blackwing properties during summer of 2025. These surveys aim to define conductive trends and identify drill targets for future drill programs.

Foremost is also planning a Hatchet phase two drill program to follow up on results from the 2024 drill program, to test additional conductive anomalies and potentially follow up from results from the upcoming winter 2025 drill program. Specific targets for the program, planned for late summer 2025, are currently being developed by Foremost and its partners.

Foremost holds an option to earn up to a 70% interest in 10 prospective uranium properties (with the exception of the Hatchet, where Foremost is able to earn up to 51%), spanning over 330,000 acres in the prolific, uranium-rich Athabasca basin.

Foremost also has a portfolio of lithium projects at varying stages of development located across 55,000-plus acres in Manitoba and Quebec.