VANCOUVER, BC / ACCESS Newswire / September 30, 2025 / Future Fuels Inc. (TSXV:FTUR)(FSE:S0J) ("Future Fuels" or the "Company") is pleased to announce that it has commenced mobilization of crews and equipment for the Phase One exploration program at its wholly owned Hornby Basin Project (the "Hornby Project" or the "Project"), located approximately 95 kilometres southwest of Kugluktuk, Nunavut.
"We are excited to officially launch our first-ever field exploration program at the Hornby Basin Project," said Rob Leckie, President & CEO. "This gravity survey is a critical step in advancing our understanding of the Mountain Lake mineralization and will provide the foundation for follow-up mapping, sampling, and eventual drilling to increase its understanding of the uranium endowment at Mountain Lake."
Highlights
Mobilization is underway for a 680-station ground gravity survey at the Mountain Lake Uranium System.
The survey will cover an area of ~2,000 ha with 200-400 m line spacing and 100 m station intervals, supported by helicopter from Kugluktuk.
Builds on the success of two historical surveys (2022 and 2024) that demonstrated gravity can distinguish between Unit 11 sandstones and Unit 12 shales and highlight structural offsets and controls on uranium mineralization (Aurora Geosciences, 2022, 2024).
Operators in the Athabasca and Thelon basin have also recognised gravity surveys are effective in identifying alteration associated with unconformity style uranium systems.
Results will directly support planning of Future Fuels' first drilling campaign at Hornby Basin in 2026.
The 2025 program will begin by conducting a high-resolution ground gravity survey over the historic Mountain Lake Uranium System to infill and connect the two historical gravity surveys conducted by Iso Energy Ltd. The survey will also extend coverage to include highly anomalous radioactive boulder trains near the Curiosity and Sauna Lakes, where Imperial Oil sampled up to 6% U3O8 in 1973 (AR 080161).
Historical Gravity Work
The two historical surveys at Mountain Lake demonstrated the effectiveness of the method in mapping uranium mineralization and stratigraphy:
2022 Aurora Geosciences survey (IsoEnergy Ltd.): 84 stations over an ~800 × 1300 m grid successfully mapped the eastern portion of the Mountain Lake uranium system. A gravity high was coincident with mineralization, while a secondary high was consistent with a nearby intrusion (Aurora Geosciences, 2022).
2024 Aurora Geosciences survey (IsoEnergy Ltd.): 43 stations over three lines targeted the Helmut Fault, which offsets stratigraphic Units 11 and 12. Results showed a gravity high spatially associated with the fault and gravity lows tied to Unit 11 sandstones, confirming gravity as an effective tool for mapping density contrasts and fault displacements (Aurora Geosciences, 2024).
Future Fuels' 2025 program will result in over a 500% increase in the coverage of the gravity dataset and the subsequent integration, inversion and interpretation aims to provide further geological insight into the uranium mineral systems present at Mountain Lake.
Geological Context - Units of Importance
The Mountain Lake uranium system is hosted within the Dismal Lakes Group, a Proterozoic succession that includes:
Unit 11 - LeRoux Formation (Sandstone):
Light grey to white, quartz-rich sandstones and basal conglomerates, 20-500 m thick. Acts as the fluid conduit, allowing uranium-bearing fluids to migrate. Characterized by gravity lows due to relatively low density (Armitage, 2007; Aurora Geosciences, 2024).Unit 12 - Fort Confidence Formation (Shale and Siltstone):
Black shales and siltstones interbedded with quartzitic siltstone, typically ~45 m thick but locally >120 m. Acts as the chemical trap, where reducing conditions cause uranium to precipitate. Associated with gravity highs relative to Unit 11 (Armitage, 2007; Aurora Geosciences, 2024).
The Unit 11-12 contact is the principal stratigraphic control on uranium mineralization at Mountain Lake, analogous to settings in the Athabasca Basin. Both units are offset by major structures including the Imperial, Aquitaine, and Helmut Faults. The 2022 and 2024 surveys demonstrated that gravity effectively distinguishes Unit 11 sandstones from Unit 12 shales and images fault offsets, making it a powerful tool for targeting unconformity-related uranium systems (Aurora Geosciences, 2022, 2024).
The survey is being conducted in partnership with Dahrouge Geological Consulting Ltd. and EarthEx Geophysical Solutions Inc., combining technical expertise, advanced equipment, and on-site support. Data collection is expected to be completed over a ~20-day period, with initial results anticipated later this fall.
Looking Ahead
The results of the 2025 survey will directly inform the design of the Company's planned 2026 diamond drilling campaign, which will represent the first subsurface testing by Future Fuels at Hornby Basin. Drill permit applications are expected to be submitted in fall 2025.
Environmental and Community Engagement
Future Fuels remains committed to conducting exploration with the highest environmental standards. Field operations are guided by a detailed Environmental and Wildlife Management Plan, including measures to protect caribou, muskox, and migratory birds. Engagement with the Kitikmeot Inuit Association, local Hunters and Trappers Organization, and the Hamlet of Kugluktuk is ongoing, with opportunities for community participation in the program.
References
Ahuja, S.P. (1973) Exploration - 1973, YUK mineral claims, Mountain Lake (6031), Mackenzie Mining District, N.W.T.; Trigg, Woollett & Associates Ltd. report prepared for Imperial Oil Limited, Assessment Report 080161
Armitage, A. E. (2007). Technical report on the Mountain Lake uranium property, Nunavut, Canada. Triex Minerals Corp., NI 43-101 Report.
Aurora Geosciences. (2022). Assessment report on the Mountain Lake Property, Nunavut: Gravity survey for IsoEnergy Ltd. Government of Nunavut Assessment Report files.
Aurora Geosciences. (2024). Assessment report on the Mountain Lake Property, Nunavut: Gravity survey for IsoEnergy Ltd. Government of Nunavut Assessment Report files.
National Instrument 43-101 Disclosure
Nicholas Rodway, P. Geo, (NAPEG Licence # L5576) is a consultant of the Company and is a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Properties. Mr. Rodway has reviewed and approved the technical content in this release.
About Future Fuels Inc.
Future Fuels' principal asset is the Hornby Project, covering the entire 3,407 km² Hornby Basin in north-western Nunavut, a geologically promising area with over 40 underexplored uranium showings, including the historic Mountain Lake System. Additionally, Future Fuels holds the Covette Project in Quebec's James Bay region, comprising 65 mineral claims over 3,370 hectares.
On behalf of the Board of Directors
FUTURE FUELS INC.
Rob Leckie, CEO and Director
info@futurefuelsinc.com
604-681-1568
X: @FutureFuelsInc
www.futurefuelsinc.com
Forward Looking Statements
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include but are not limited to market conditions and the risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information, including, but not limited to, statements regarding the Hornby Project, the prospects of the mineral claims forming the Hornby Project, which are not at an advanced stage of development, the Company's anticipated business and operational activities, and the Company's plans with respect to the exploration or advancement of the Hornby Project. Factors that could cause actual results to vary from forward-looking statements or may affect the operations, performance, development and results of the Company's business include, among other things, the Company's ability to generate sufficient cash flow to meet its current and future obligations; that mineral exploration is inherently uncertain and may be unsuccessful in achieving the desired results; that mineral exploration plans may change and be re-defined based on a number of factors, many of which are outside of the Company's control; the Company's ability to access sources of debt and equity capital; competitive factors, pricing pressures and supply and demand in the Company's industry; and general economic and business. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
SOURCE: Future Fuels Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/future-fuels-mobilizes-for-gravity-survey-at-the-hornby-basin-project-1080192
