Bayridge Resources: Drilling Permit Paves Way for Constellation Project Advancement

Bayridge Resources Corp. (CSE: BYRG) (OTCQB: BYRRF) (FSE: O0K) has received a significant boost for its Constellation uranium project with the issuance of a Level 2 Exploration Permit for drilling. This permit allows the company to commence a Phase 1 drilling program, fully funded and slated for late Q1 or early Q2 2025. The permit enables Bayridge to drill up to 30 sites, totaling up to 10,000 meters of diamond drilling within an 18-month period, along with 40-line kilometers of grid line cutting in preparation for ground geophysical surveys.

The Constellation project, located 60 km southwest of the Key Lake Mine, boasts favorable geology for basement-hosted unconformity-style uranium deposits. The regional geology and magnetics have defined structural lineaments trending NNW and ESE, which could represent structural conduits between the Archean granite inlier and graphitic metasediments mapped on the property. Historical NE-trending conductors have also been outlined but remain under-explored and un-drilled. Strong EM conductors are proven targets associated with unconformity and basement-hosted uranium mineralization in and around the Athabasca Basin.

Bayridge has the right to earn up to an 80% interest in the Constellation project through a series of cash payments, share issuances, and exploration expenditures over the next four years. The company's strategic exploration plans align with this permit, as it enables Bayridge to test several areas of anomalous spectrometer count-per-second (CPS) anomalies and VTEM conductors identified during the Phase I exploration program. These targets are largely associated with VTEM conductors or the boundaries of magnetic highs and magnetic lows, areas believed to be prospective for uranium mineralization.

The receipt of this permit is a crucial milestone for Bayridge, as it allows the company to test the project's potential without committing significant resources upfront. By utilizing this permit, Bayridge can gain a better understanding of the geological features and anomalies at the Constellation project, which will help in the evaluation of the project's potential for uranium exploration and development.



Bayridge's strategic exploration plans focus on testing high-potential targets, generating quality data, and securing a significant interest in the project to maximize its exploration success. The company's diversified project portfolio, phased exploration and development approach, strategic partnerships and joint ventures, experienced management team, and commitment to regulatory compliance and risk management all contribute to its ability to navigate the challenges and risks associated with exploration and development in the volatile uranium market.

As Bayridge advances its Constellation project, investors should monitor the company's progress and consider the potential implications of its exploration success on the project's value. The receipt of this permit is a positive development for Bayridge, as it enables the company to further evaluate the project's potential and make informed decisions about its future exploration and development plans.