That's based on 63,800 tonnes grading 34.5% U­₃O₈ and includes 43.89 million lbs U­₃O₈ at an average grade of 52.1% U­₃O₈ within the high-grade domain, the company said.

The MRE also showed inferred mineral resources of 2.66 million lbs of U­₃O₈ based on 54,300 tonnes grading 2.2% U­₃O₈.

The mineral resources are estimated at a uranium cut-off grade of 1.00% U­₃O₈.

"On average, one cubic metre of Hurricane's high-grade domain weighs over 4.5 tonnes and contains over 5,200 lbs of U­₃O_8­," IsoEnergy's vice president of exploration Andy Carmichael said.

"Of the past- and presently- producing uranium mines in the Athabasca Basin, Hurricane is most analogous to the Cigar Lake deposit at the nearby operating mine with respect to the mineralization's grade, thickness, width, style, and the alternation halo and ground conditions which mantle the deposit.

He added that Hurricane's MRE uses a cut-off grade consistent with the MREs reported from Cigar Lake and other operations in the eastern Athabasca Basin.

IsoEnergy's share price rose 8% day on day to C$3.26 (US$2.52) on July 18. The company has a market capitalization of C$348.19 million.