VANCOUVER, British Columbia, June 24, 2024 (GLOBE NEWSWIRE) -- Bedford Metals Corp. (TSX-V: BFM) (the “Company” or “Bedford”) is pleased to announce that, following the positive initial results from its satellite survey on its Ubiquity Lake Uranium Project, the Company has decided to expand the scope of the survey to include its recently optioned Close Lake Uranium Project in the Athabasca Basin, Saskatchewan. The expanded survey will be conducted by CanExplor Management Ltd., leveraging advanced technology to analyze helium emission data which directly correlates with uranium decay.
The initial survey over the Ubiquity Lake Uranium Project is expected to provide significant insights into subsurface geology and uranium mineralization, enhancing Bedford’s understanding of the area. The interpretation of these results is underway, and the Company will release them once received. The decision to include the Close Lake Uranium Project in this survey is driven by compelling initial findings.
Peter Born, President of Bedford, stated, “The early results from our Ubiquity Lake survey have been highly encouraging, and expanding the survey to include Close Lake is a natural progression. This expanded survey will provide us with a more comprehensive understanding of the geological potential of both projects. By integrating these datasets, we can refine our exploration strategies and focus on the most promising targets.”
The Close Lake Uranium Project covers an area of approximately 2250 hectares, adjacent to Bedford’s Ubiquity Lake claims. The expanded survey will now encompass a total of over 3600 hectares of prospective ground, utilizing state-of-the-art VNIR (Visible Near Field Infrared) and SWIR (Shortwave Infrared) technology to detect helium emissions and other key indicators of uranium deposits.
Bedford remains committed to environmental stewardship and responsible resource development. The Company is dedicated to conducting all exploration activities to the highest environmental standards and continues to work closely with local communities and indigenous groups to ensure respectful and transparent engagement.
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. 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 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 project spans 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 or 604-622-1199 or visit the Company’s website at www.bedfordmetals.com.
On behalf of the Board,
Bedford Metals Corp.
“Peter Born”
President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that 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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