Key Highlights:
-
Low magnetic susceptibility in regional surveys shows a NE-SW structural corridor that crosses the Blast claims for 9 km. The feature may be caused by alteration and destruction of magnetic minerals.
-
The significance of a structural corridor zone is that it may host concentrations of uranium mineralization in individual or multiple shears or faults to hundreds of metre depths.
Vancouver, British Columbia–(Newsfile Corp. – July 7, 2026) – Blast Resources Inc. (CSE: BLST) (FSE: O0E) (“Blast” or the “Company“) is pleased to announce a structural corridor found on the Blast mineral claims. The Company has 3 claim groups on the southwest side of the Athabasca Basin in northern Saskatchewan.
Casey Forward, Chief Executive Officer & Director of the Company, commented, “We are very excited to announce the newly identified structural corridor found at our Wales Lake Uranium Project. The identification of this corridor provides us with a heightened understanding of our Project as we develop as a company and continuously seek sustainable growth for our investors. Moving forward, we are well equipped to continue driving advancement at the Project and look forward to sharing what we uncover next.”
Figure 1: Wales Lake Project Area
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11914/304236_808855a0949d189d_001full.jpg
This structural corridor is a zone of approximately parallel faults or shears in basement rock. The trend extends both NNW (330°) and SSE (150°) of the Blast claims continuous within the Blast claims for a length of 9 km. Width of the zone as indicated by basement conductors (Fission 3) may be 3 km. Info on this target are as a result of the December 2024 airborne magnetic survey done by the Company and historic F3 Uranium field work (public domain).
In structural geology, a structural corridor refers to a long, relatively narrow area defined by specific geological structures, such as faults, shears or folds, which can influence the location of geological features and resources
The Athabasca Basin’s structural corridors are critical for understanding the sites of uranium mineralization, particularly the relationship to unconformity-related deposits. These corridors, often major fault zones, act as pathways for uranium-bearing fluids and provide geometric traps for ore deposition.
Figure 2: Wales Lake Regional Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11914/304236_808855a0949d189d_002full.jpg
The Company is focussed on conductors in basement rock that acted as traps for uranium mineralization. Unconformity-related deposits, uranium mineralization is often associated with the unconformity surface, where older basement rocks are overlain by younger sedimentary rocks. Conductors in the basement rocks can guide fluids from deeper sources to the unconformity, where they can deposit uranium.
The Wales Lake project is accessible along the all-weather gravel road provincial highway 955 from La Loche to the past-producing Cluff Lake uranium mine. Highway 955 crosses approximately 1.5km to the east of the project, and access to the west may be on ungazetted bush roads and tracks.
Qualified Person Statement
The scientific and technical information contained in this news release was prepared and approved by Locke Goldsmith, M.Sc., P.Eng., P. Geo., Arctex Engineering Services and who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About Blast Resources Inc.
Blast Resources (CSE: BLST) is a mineral exploration company trading on the Canadian Securities Exchange. The Company is currently focused on exploration at its flagship Wales Lake Uranium Project.
Situated south of Wales Lake and positioned just outside the southwest margin of the Athabasca Basin, the Project is strategically located within the Patterson Lake Corridor which hosts two significant uranium deposits (Triple R Deposit, 2.2 Mt @ 1.58 U308 and 0.51 g/t Au & the Arrow Deposit which is the largest source of low-cost uranium globally, delivering up to 30 million pounds of high-grade uranium per year). The deposits represent one of the largest high-grade uranium systems globally, comparable to world-class deposits such as McArthur River, Cigar Lake, and Key Lake.
ON BEHALF OF THE BOARD
Casey Forward
President and CEO
For further information, please contact:
E-mail: info@blastresources.com
Website:www.blastresources.com
Forward-Looking Statement (Safe Harbor Statement):
This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words “anticipate”, “plan”, “continue”, “expect”, “estimate”, “objective”, “intends” “may”, “will”, “project”, “should”, “predict”, “potential” and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the completion of the debt settlement.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with mineral exploration generally and results from anticipated and proposed exploration programs, conditions in the equity financing markets, and assumptions and risks regarding receipt of regulatory and shareholder approvals.
Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company’s future operations. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
Neither the CSE Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
