Showcase Minerals Identifies Rare Earth Elements and Uranium Exploration Targets at the Pontiac Project
Calgary, January 2, 2025 - Showcase Minerals Inc. (CSE: SHOW) (FSE: ZJ0) ("Showcase" or the "Company") is pleased to announce the results of its Phase I exploration program on the Pontiac Project, located in Quebec, Canada (the "Property"). This program successfully confirmed historical uranium mineralization while also identifying anomalous values of rare earth elements (REEs), uranium, and other strategic minerals. Phase I was designed to verify historical mineralization, assess exploration targets, and uncover new potential areas of interest on the Property. Exploration work included ground prospecting, geological mapping, sampling activities, and scintillometer radiometric surveys.
Results Highlights:
The Phase 1 sampling program yielded significant findings:
- Rare Earth Elements (REEs) (Figure 1):
- Light REE (LREE) values ranged from 17.81 ppm to 3,584.7 ppm.
- Heavy REE (HREE) values ranged from 3.26 ppm to 1,098 ppm.
- Total REE (TREE) values ranged from 22.3 ppm to 4,682.7 ppm.
- Sample 1157251, taken from a granite-schist contact zone in the southwestern Property area, showed the highest TREE value (4,682.7 ppm), associated with 0.24% uranium oxide (U3O8) and surface radioactivity from 12,000 counts per second (cps) to 38,000 cps.
- Uranium (U) and Uranium Oxide (U₃O₈):
- Uranium values ranged from 6.6 ppm to 5,940 ppm.
- Uranium oxide (U₃O₈) values ranged from 0.002% to 0.714%.
- Thorium (Th): Values ranged from <100 ppm to 6,200 ppm (method FUS-XRF) or 6,370 ppm (method FUS-MS).
- Other Elements:
- Rubidium (Rb): 15 ppm to 418 ppm.
- Zircon (Zr): 9 ppm to 2,975 ppm.
- Niobium (Nb): 2 ppm to 552 ppm.
- Molybdenum (Mo): <2 ppm to 714 ppm.
- Barium (Ba): 30 ppm to 2,446 ppm.
- Lead (Pb): 24 ppm to 4,110 ppm.
- Significant Samples:
- Sample 1157262, taken from the X-Ray Showing, returned elevated values of uranium oxide (0.714%), molybdenum (714 ppm), and lead (4,110 ppm), highlighting polymetallic exploration potential.
"We are excited by the results of our Phase I exploration program at the Pontiac Project," stated Mr. Kirk Reed, CEO of Showcase Minerals. "These findings not only validate the historical uranium mineralization, but also highlight the Property's significant rare earth element potential. The discovery of additional strategic minerals, including niobium, molybdenum, and rubidium, underscores the polymetallic nature of this asset and its importance to the critical minerals supply chain."
"As global demand for clean energy technologies and strategic materials continues to grow, the Pontiac Project's potential as a multi-commodity exploration target aligns with our commitment to advancing projects that support a sustainable future. We look forward to building on these results in Phase II," Kirk Reed, CEO of Showcase Minerals, commented.
Sampling and QA/QC Procedures
The 2024 exploration program included prospecting geological mapping, rock sampling, and ground radiometric survey using scintillometers. Five historical showings in the western property area and one in the eastern part were focus of the work program. Surface radioactivity mostly associated with pegmatites was recorded in the range of 5,000 cps to 55,000 cps. A total of 37 rock (grab and chip) samples were collected from various outcrops and floats. During the survey in some cases, where either the scintillometer readings were too low or it was not possible to take a sample, only scintillometer scanning was done, and the reading was recorded. 59 such scintillometer scan readings were taken from all over the Property.
The samples from program were bagged and tagged using best practices and were delivered to Activation Laboratories ("ACTLABS"), Ancaster, Ontario for sample preparation and analyses. ACTLABS is a commercial, accredited ISO (ISO/IEC 17025:2017 and ISO 9001-2015) Certified Laboratory independent of Showcase. No officer, director, employee, or associate of Showcase or the vendor was involved in sample preparation and analysis. The samples were analyzed at ACTLABS in Ancaster, Ontario using laboratories code 8 - U3O8 and Thorium (Th) 4-Acid "Near Total" by ICP-MS (0.1 ppm - 1% U3O8), and for rare earth elements (REE) using Code 8 - REE.
Qualified Person
Afzaal Pirzada, P.Geo., a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the technical content of this news release.
About Showcase Minerals
Showcase Minerals is a Canadian mineral exploration company holding an option to acquire a 100% interest in the Pontiac Property, subject to a 2% net smelter returns royalty. The project encompasses 60 mineral claims situated near Fort Coulange in southwestern Quebec.
About the Pontiac Uranium Property
The Pontiac Uranium Property spans approximately 3,461 hectares and is located on NTS sheet 31F15, near Fort Coulange, Quebec. The site benefits from road accessibility via Highway 148 from Ottawa, supported by local infrastructure and a history of successful exploration. The Property is situated within the Grenville Province, characterized by various geological formations, including migmatized paragneiss and granitoid intrusions. The uranium-thorium deposit discovered in 1955 is hosted in pegmatite and granite, with mineralization detected in areas up to 0.11% to 1.0% U3O8 and up to 16.0% ThO2.
For further information, investors are encouraged to review the Company's filings available at www.sedarplus.ca.
On Behalf of the Board of Directors
Kirk Reed
CEO, Showcase Minerals Inc.
Telephone: 1-800-982-0670
Figure 1: Rock Sample Assays Statistics for REE
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Figure 2: Rock Sample Assays
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