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Cash-rich Labrador Uranium continues to expand and explore Canada’s mineral superstore

I promise this is the last article I write about a junior miner in Newfoundland & Labrador… this week.

As I’ve noted in the past, this region of Canada is blessed with an abundance of resources of all kinds – gold, silver, copper, nickel, cobalt, iron, zinc, molybdenum, rare earths and uranium to name a few. I recently discussed a gold explorer that has also stumbled across some hard rock lithium (pegmatite) in the area. It would seem we’ve found our green revolution superstore, all in a mining friendly and politically stable jurisdiction, occupied by some of the most friendly people on the planet. What more could you ask for? That’s why I continue to be fascinated by, and write about this important mining region.

So what commodity to focus on today? How about uranium. That’s right, Saskatchewan’s Athabasca Basin doesn’t host all of Canada’s uranium resources. There’s plenty to be found in the Central Mineral Belt (CMB) in Labrador. And a key new explorer in the region is Labrador Uranium Inc. (CSE: LUR | OTCQB: LURAF) recently spun out of Consolidated Uranium Inc. (TSXV: CUR | OTCQB: CURUF), by transferring ownership of the Moran Lake Project to LUR in exchange for 16 million common shares of LUR. Shortly after the spin-out was announced LUR then agreed to acquire from Altius Minerals Corporation (TSX: ALS) a 100% interest in the 125,000 hectare Central Mineral Belt (CMB) Uranium-Copper Project, located adjacent to the Moran Lake Project, and the Notakwanon project, both located in Labrador. Lastly, LUR rounded out its Labrador portfolio with an agreement to acquire Mega Uranium Ltd.’s 66% participating interest in the joint venture that holds a 100% interest in the Mustang Lake project, approximately 9.5 kilometres northeast of Paladin Energy’s Michelin deposit with its 128 million lb uranium resource.

That’s a pretty impressive land grab in a span of 7 months since Consolidated Uranium first announced the spin out. The financial team was also busy for Labrador Uranium during that time amassing roughly C$18 million in two capital raises, with the latest one closing April 28th. All of this has created a well funded exploration and development company focused on uranium projects, with over 139,000 ha in the prolific CMB in central Labrador. Both the Moran Lake Project, which hosts historical uranium mineral resources, and the CMB Project, have had substantial past exploration work completed with numerous targets with uranium, copper and IOCG (iron oxide, copper, gold) style mineralization. The Notakwanon Project is underexplored but drill ready. All three projects are expected to be the focus of an aggressive exploration program in 2022.

Source: Labrador Uranium Corporate Presentation

One of the unique things about Labrador Uranium, as they move forward to start drilling this massive portfolio that they’ve put together, is their use of technology. The CMB region has seen significant historical exploration work by multiple private and public groups resulting in a large database of geological data available. The Company is reviewing several terabytes of data including, geological, geochemical, mineral occurrence and geophysical (magnetics and radiometrics) to seek overlooked, potentially large mineral systems that may not be easily identifiable through standard field and remote exploration techniques for various reasons including extensive cover or lack of drill coverage. LUR is utilizing its internal expert knowledge to review the existing datasets to map geological framework elements such as stratigraphy, alteration, fault and fracture systems, folding and intrusive contact. Then utilizing technology, the team is assembling training datasets upon which to train Machine Learning algorithms to identify yet unknown or poorly expressed mineral systems in the belt together with geomechanical modeling approaches to identify and prioritize mineral targets.

Regardless of whether I’ve explained this in a coherent enough way for people to understand, or if I made a complete mess of the explanation, suffice it to say that their process has already identified >140 targets. Many of which are copper, which isn’t necessarily a bad thing.

Source: Labrador Uranium Corporate Presentation

The next weeks and months will be interesting to see where Labrador Uranium focuses their activity. As noted, they are well funded for a large and aggressive exploration program in 2022. Over half of their current C$37 million market cap is in the form of cash to go out and generate plenty of news. Combine that with another potential rally in the uranium sector and investors could see a handsome return if the drill bit hits its mark. Paladin Energy’s Michelin deposit has proven there are elephants roaming the plains of central Labrador.




Greg Andrews of Search Minerals on the positive impact of their updated resource estimate on its coming PEA

In this InvestorIntel interview with host Tracy Weslosky, Search Minerals Inc.’s (TSXV: SMY | OTCQB: SHCMF) President, CEO, and Director, Greg Andrews, discusses the positive impact on its upcoming PEA of the recently increased mineral resource estimates for Search Minerals’ Deep Fox and Foxtrot Critical Rare Earth Element properties in South-East Labrador.

In the interview, which can also be viewed in full on the InvestorIntel YouTube channel (click here), Greg Andrews tells InvestorIntel that its updated resource estimates will form the basis of Search’s upcoming Preliminary Economic Assessment (PEA). He goes on to explain how the PEA will take into account the significance of both the Deep Fox and Foxtrot properties. With Search Minerals positioned to become a reliable source of rare earths in North America, Greg also comments on how the 2022 Canadian Federal Budget is likely “to spur investment into all critical minerals, and the rare earths in particular.”

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About Search Minerals Inc.

Led by a proven management team and board of directors, Search is focused on finding and developing Critical Rare Earths Elements (CREE), Zirconium (Zr) and Hafnium (Hf) resources within the emerging Port Hope Simpson – St. Lewis CREE District of South East Labrador. The Company controls a belt 63 km long and 2 km wide and is road accessible, on tidewater, and located within 3 local communities. Search has completed a preliminary economic assessment report for FOXTROT, and a resource estimate for DEEP FOX. Search is also working on three exploration prospects along the belt which include: FOX MEADOW, SILVER FOX and AWESOME FOX.

Search has continued to optimize our patented Direct Extraction Process technology with the support from the Department of Industry, Energy and Technology, Government of Newfoundland and Labrador, and from the Atlantic Canada Opportunity Agency. We have completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining. We also recognize the continued support by the Government of Newfoundland and Labrador for its Junior Exploration Program.

Search Minerals was selected to participate in the Government of Canada Accelerated Growth Service (“AGS”) initiative, which supports high growth companies. AGS, as a ‘one-stop shop’ model, provides Search with coordinated access to Government of Canada resources as Search continues to move quickly to production and contribute to the establishment of a stable and secure rare earth element North American and European supply chain.

To learn more about Search Minerals Inc., click here

Disclaimer: Search Minerals Inc. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

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