- Foremost Clean Energy (NASDAQ:FMST; CSE:FAT), a North American uranium and lithium explorer, announces the listing of its spinout, Rio Grande Resources (CSE:RGR), on the Canadian Securities Exchange
- Rio Grande’s Winston project houses three past-producing gold and silver mines
- Foremost Clean Energy is a North American uranium and lithium exploration company focused on expediting the world’s carbon-free future
- Foremost Clean Energy stock has given back 56.20 per cent year-over-year
Foremost Clean Energy (NASDAQ:FMST; CSE:FAT), a North American uranium and lithium explorer, announces the listing of its spinout, Rio Grande Resources (CSE:RGR), on the Canadian Securities Exchange.
The spinout holds a 100-per-cent interest in the Winston project, consisting of 147 unpatented lode mining claims and 2 patented mining claims in Sierra County and Catron County, New Mexico. The 1,229-hectare land package houses three past-producing gold and silver mines known as Ivanhoe, Emporia and Little Granite.
Highlight samples include 66.5 grams per ton (g/t) of gold and 2,940 g/t silver from Little Granite, 46.1 g/t gold and 517 g/t silver from Emporia, and 26.8 g/t gold and 1,670 g/t silver from Ivanhoe.
Rio Grande will soon begin an exploration program focused on Winston’s most prospective high-grade samples, including ground magnetics, high-resolution LiDAR and satellite imagery to optimize drill targeting. Contingent on results, a 3,000-foot diamond drill program will follow to test depth and strike extensions of known mineralization.
Leadership insights
“Today marks an exciting new chapter for our valued shareholders as Rio Grande begins trading on the CSE under the symbol RGR,” Jason Barnard, president and chief executive officer of Foremost Clean Energy, said in a statement. “This listing is a significant milestone, providing a dedicated and focused team with the resources to develop its exceptional gold and silver assets in New Mexico. The high-grade gold and silver samples, including assays of 41.5 g/t gold and 4,610 g/t silver, are testament to the incredible resources that Rio holds. With the recent surge in gold and silver prices, companies like Rio Grande Resources are well-positioned as investors increasingly turn to precious metals as a safe haven and a hedge against inflation. This is driving up demand and further confirms the underlying strength of the precious metals market. Our company and the team at Foremost wish Rio Grande much success as it launches during an exciting time in a positive precious metals market.”
About Foremost Clean Energy
Foremost Clean Energy is a North American uranium and lithium exploration company focused on expediting the world’s carbon-free future. The company holds an option to earn up to a 70-per-cent interest in 10 prospective uranium properties spanning over 330,000 acres in Saskatchewan’s Athabasca Basin. It complements these assets with over 55,000 acres of lithium projects in Manitoba and Quebec.
Foremost Clean Energy stock (CSE:FAT) is up by 6 per cent trading at C$1.59 per share as of 11:47 am ET. The stock has given back 56.20 per cent year-over-year.
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(Top photo of samples from Rio Grande Resources’ Winston project: Rio Grande Resources)
