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Fission PFS Resource Drilling Hits High Grade in all Holes

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Fission PFS Resource Drilling Hits High Grade in all Holes

 

 

 

 

 

FISSION URANIUM CORP. is pleased to announce the completion of its summer field program and provide results from all nine summer program holes at the R780E zone, at its PLS property, in Canada’s Athabasca Basin region. All nine holes have hit wide, high-grade mineralization. The holes are designed to upgrade key sections of the R780E high-grade domain that is currently classified as “inferred” category and convert it to “indicated” category. The successful holes have the potential to positively impact the upcoming pre-feasibility study, expected in Q4, 2018. The holes include PLS18-584 (line 825E), which intersected 133.0m of total composite mineralization, including 14.25m of total composite radioactivity >10,000 cps (with a peak of >65,535 cps).  The summer program also included drilling 5 overburden geotechnical holes designed to collect data for geotechnical and hydrogeological characterization to support PFS-level design of the proposed process plant site, tailings management facility and stockpile areas.

 

 

Drilling Highlights

 

  • All nine resource upgrade holes (2928m total meters drilled) targeting the R780E zone intersected wide, high-grade mineralization
  • All five geotechnical holes (628.23m) were successfully completed
  • Hole PLS18-584 (line 825E)
    • 133.0m total composite mineralization over a 232.5m interval (between 73.5m – 306.0m), including
    • 14.25m of total composite >10,000 cps
       
  • Hole PLS18-588 (line 645E)
    • 86.0m total composite mineralization over a 124.0m interval (between 104.5m – 228.5m), including
    • 11.68m of total composite >10,000 cps

 

 

Ross McElroy, President, COO, and Chief Geologist for Fission, commented,

 

With the conclusion of the summer program, all field work for Fission’s highly-anticipated PFS study is now complete. We are now in the final stages of the study and are delighted with these drill results. All nine resource holes intersected the high-grade domain and, importantly, returned expected and in some cases greater-than-expected results, including some exceptionally strong and wide mineralization. The aim of the drilling was to drill portions of the R780E high-grade domain that are currently classified as inferred and convert them to indicated classification, to be used in an updated resource model, so these successful results may significantly enhance the potential economics of the Triple R.

 

 

Geotechnical Drilling Summary.

 

 

A total of five geotechnical drill holes were drilled in the proposed plant site, tailings management facility, and stockpile areas to the west of the proposed open pit.  A total of approximately 630m was drilled in these 5 holes. The objective of the geotechnical drilling program was to collect data for geotechnical and hydrogeological characterization to support PFS-level design of these facilities. The drilling program was successfully executed, and the assessments are ongoing.

 

 

Table 1:  R780E Zone

 

 

 

Hole ID Zone Grid Line Collar Hand-held Scintillometer Results On
Mineralized Drillcore (>300 cps / >0.5M
minimum)
Lake
Depth
(m)
Sandstone
From – To
(m)
Basement Unconformity
Depth
(m)
Total Drillhole
Depth
(m)
Az Dip From
(m)
To (m) Width
(m)
CPS Peak Range
PLS18-583 R780E 840E 157 -69 83.5 88.5 5.0 320 – 1000 7.4 NA 62.0 407.0
          102.0 105.0 3.0 <300 – 470        
          113.0 156.5 43.5 <300 – >65535        
          169.5 180.0 10.5 <300 – 1900        
          183.0 185.0 2.0 <300 – 680        
          194.5 200.0 5.5 <300 – 420        
          213.0 215.0 2.0 <300 – 400        
          219.0 226.5 7.5 <300 – 3100        
          245.5 264.0 18.5 <300 – 3600        
          267.0 270.5 3.5 910 – 4100        
          273.5 299.5 26.0 <300 – 2400        
PLS18-584 R780E 825E 156 -69.7 73.5 81.0 7.5 <300 – 3000 7.4 NA 61.9 335.9
          106.0 149.0 43.0 <300 – >65535        
          155.0 162.0 7.0 <300 – 970        
          165.5 166.0 0.5 702        
          168.5 171.5 3.0 <300 – 1500        
          174.0 205.5 31.5 <300 – 3000        
          216.0 220.0 4.0 <300 – 420        
          238.5 241.5 3.0 <300 – 420        
          244.0 249.5 5.5 <300 – 2000        
          252.0 252.5 0.5 410        
          262.0 272.0 10.0 <300 – 2500        
          274.5 285.5 11.0 <300 – 9000        
          288.0 289.0 1.0 400 – 1000        
          300.5 306.0 5.5 <300 – 770        
PLS18-585 R780E 555E 333 -69.5 101.0 104.0 3.0 <300 – 570 6.0 NA 59.0 320.0
          123.0 127.5 4.5 <300 – 850        
          131.0 158.5 27.5 <300 – >65535        
          161.0 161.5 0.5 980        
          167.5 174.5 7.0 <300 – 14800        
          194.0 201.0 7.0 <300 – 10100        
          204.0 209.0 5.0 <300 – 12700        
          214.5 221.5 7.0 <300 – 2600        
          227.5 236.0 8.5 <300 – 1400        
          239.0 245.0 6.0 <300 – 1100        
          247.5 256.5 9.0 <300 – 1500        
          289.0 289.5 0.5 510        
          304.5 305.5 1.0 340 – 420        
PLS18-586 R780E 525E 157 -69.7 85.8 136.0 50.2 <300 – >65535 6.5 NA 58.3 329.0
          170.0 170.5 0.5 460        
          253.5 255.5 2.0 <300 – 370        
          296.0 296.5 0.5 300        
PLS18-587 R780E 495E 154 -69.8 74.0 102.5 28.5 <300 – 20200 4.6 NA 56.0 250.0
          109.0 110.0 1.0 400 – 450        
          115.5 121.0 5.5 <300 – >65535        
          124.0 148.0 24.0 <300 – >65535        
          151.0 159.0 8.0 <300 – 440        
          163.5 169.0 5.5 310 – 1600        
          178.0 194.5 16.5 <300 – 1000        
PLS18-588 R780E 645E 338 -69.4 104.5 105.5 1.0 340 – 470 5.0 NA 59.5 317.0
          110.0 110.5 0.5 360        
          115.5 166.0 50.5 <300 – >65535        
          170.0 183.0 13.0 <300 – 2400        
          188.0 200.5 12.5 <300 – 2500        
          205.0 206.5 1.5 310 – 610        
          216.0 216.5 0.5 310        
          219.5 224.5 5.0 <300 – 2000        
          227.0 228.5 1.5 340 – 500        
PLS18-589 R780E 675E 338 -69.6 117.0 121.5 4.5 <300 – 3300 7.0 NA 59.0 299.0
          137.0 175.5 38.5 <300 – 59900        
          178.0 179.5 1.5 370 – 890        
          184.0 188.5 4.5 320 – 2400        
          192.5 195.5 3.0 <300 – 1900        
          198.0 203.5 5.5 <300 – 6800        
          207.0 209.0 2.0 630 – 880        
          215.0 215.5 0.5 660        
PLS18-590 R780E 555E 335 -69.8 110.5 111.5 1.0 380 – 800 6.7 NA 57.0 335.0
          118.0 129.5 11.5 <300 – 9800        
          132.0 144.0 12.0 <300 – 57700        
          151.5 152.5 1.0 2200 – 9300        
          156.0 164.5 8.5 <300 – 17500        
          171.5 176.5 5.0 300 – 11300        
          184.5 230.0 45.5 <300 – 6400        
          233.0 233.5 0.5 740        
          236.0 253.5 17.5 <300 – 1200        
PLS18-591 R780E 540E 330 -68.0 98.5 132.5 34.0 <300 – 54100 6.0 58.9 – 59.4 59.4 335.0
          135.0 147.5 12.5 <300 – 58900        
          152.5 154.5 2.0 670 – 3100        
          162.0 164.5 2.5 360 – 2700        
          167.5 173.0 5.5 380 – 1300        
          175.5 224.0 48.5 <300 – 9900        
          230.5 231.0 0.5 440        

 

 

Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using a hand-held RS-121 Scintillometer manufactured by Radiation Solutions, which is capable of discriminating readings up to 65,535 cps. Natural gamma radiation in the drill hole survey that is reported in this news release was measured in counts per second (cps) using a Mount Sopris 2GHF-1000 Triple Gamma probe, which allows for more accurate measurements in high grade mineralized zones.  The Triple Gamma probe is preferred in zones of high grade mineralization.  The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured, and should be used only as a preliminary indication of the presence of radioactive materials. The degree of radioactivity within the mineralized intervals is highly variable and associated with visible pitchblende mineralization. All intersections are down-hole.  All depths reported of core interval measurements including radioactivity and mineralization intervals widths are not always representative of true thickness.  The orientation of the mineralized intervals tend to follow that of lithologic contacts, and generally dip steeply to the south. Within the Triple R deposit, individual zone wireframe models constructed from assay data and used in the resource estimate indicate that all 5 zones have a complex geometry controlled by and parallel to steeply south-dipping lithological boundaries as well as a preferential sub-horizontal orientation. 

 

 

PLS Mineralized Trend & Triple R Deposit Summary

 

 

Uranium mineralization of the Triple R deposit at PLS occurs within the Patterson Lake Conductive Corridor and has been traced by core drilling over ~3.18km of east-west strike length in five separated mineralized “zones” which collectively make up the Triple R deposit. From west to east, these zones are: R1515W, R840W, R00E, R780E and R1620E. Through successful exploration programs completed to date, Triple R has evolved into a large, near surface, basement hosted, structurally controlled high-grade uranium deposit.  The discovery hole was announced on November 05, 2012 with drill hole PLS12-022, from what is now referred to as the R00E zone.

 

 

The R1515W, R840W and R00E zones make up the western region of the Triple R deposit and are located on land, where overburden thickness is generally between 55m to 100m.  R1515W is the western-most of the zones and is drill defined to ~90m in strike-length, ~68m across strike and ~220m vertical and where mineralization remains open in several directions.  R840W is located ~515m to the east along strike of R1515W and has a drill defined strike length of ~430m.  R00E is located ~485m to the east along strike of R840W and is drill defined to ~115m in strike length.  The R780E zone and R1620E zones make up the eastern region of the Triple R deposit.  Both zones are located beneath Patterson Lake where water depth is generally less than six metres and overburden thickness is generally about 50m.  R780E is located ~225m to the east of R00E and has a drill defined strike length of ~945m.  R1620E is located ~210m along strike to the east of R780E, and is drill defined to ~185m in strike length.

 

 

Mineralization along the Patterson Lake Corridor trend remains prospective along strike in both the western and eastern directions. Basement rocks within the mineralized trend are identified primarily as mafic volcanic rocks with varying degrees of alteration.  Mineralization is both located within and associated with mafic volcanic intrusives with varying degrees of silicification, metasomatic mineral assemblages and hydrothermal graphite. The graphitic sequences are associated with the PL-3B basement Electro-Magnetic (EM) conductor.

 

 

Patterson Lake South Property

 

 

The 31,039 hectare PLS project is 100% owned and operated by Fission Uranium Corp. PLS is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine and passes through the nearby UEX-Areva Shea Creek discoveries located 50km to the north, currently under active exploration and development.

 

 

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ross McElroy, P.Geol., President and COO for Fission Uranium Corp., a qualified person.

 

 

About Fission Uranium Corp.

 

 

Fission Uranium Corp. is a Canadian based resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property – host to the class-leading Triple R uranium deposit – and is headquartered in Kelowna, British Columbia. 

 

Posted August 15, 2018

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