Mr. Ross McElroy reports
FISSION URANIUM CORP.: 18.8% OVER 5.5M CONFIRMS 945E HIGH-GRADE GROWTH
Fission Uranium Corp. has released assay results for three holes drilled on the R945E zone. Hole PLS13-096 (line 930E) is of particular note. With 85.5 metres of total composite mineralization, the hole includes intervals, such as 5.5 metres of 18.20 per cent triuranium octoxide within 14.0 m of 7.91 per cent U308 and also three m of 14.22 per cent U3O8 in 40 m of 1.59 per cent U3O8. The best assay in the hole was 0.5 m of 43.7 per cent U3O8. Holes PLS13-096 and PLS13-084 both returned mineralization in nearly half of the entire intervals (43 per cent and 42 per cent, respectively) highlighting the broad system of mineralization in this zone.
The R945E zone is the easternmost high-grade zone at PLS and remains wide open in all directions. The zone has presently been tested over 30 m of strike length in four holes. Results from a fourth hole (PLS13-099 on line 960E) are pending. The results of these three holes (PLS13-084, -092 and -096) represent substantial growth in high-grade mineralization identified so far.
Drilling highlights include:
PLS13-096 (line 930E):
- An intercept of 40.0 m (138.0 m to 178.0 m) of 1.59 per cent U3O8;
- Including 3.0 m (173.5 m to 176.5 m) of 14.22 per cent U3O8;
- An intercept of 14.0 m (249.5 m to 263.5 m) of 7.91 per cent U308;
- Including 5.5 m (250.5 m to 256.0 m) of 18.20 per cent U308;
- Highest assay in hole: 43.7 per cent U3O8 over 0.5 m (250.5 m to 251.0 m).
PLS13-084 (line 945E):
- An intercept of 13.5 m (232.5 m to 246.0 m) of 3.69 per cent U3O3;
- Including 4.5 m (240.5 m to 245.0 m) of 7.27 per cent U3O8;
- Highest assay in hole: 34.2 per cent U3O8 over 0.5 m (244.5 m to 245.0 m).
PLS13-092 (line 435E):
- An intercept of 16.0 m (163.0 m to 179.0 m) of 0.84 per cent U3O8;
- Including 4.0 m (165.5 m to 169.5 m) of 1.62 per cent U3O8.
Ross McElroy, president, chief operating officer and chief geologist for Fission, commented: "The results at R945E show another dramatic increase in high-grade mineralization along the 1.78-kilometre mineralized trend. The overall width of mineralization and the particularly strong high-grade subintervals found within all three holes clearly underlines the increasing potential of the zone. As the easternmost high-grade zone identified to date and open in all directions, we are very pleased with progress at R945E as this demonstrates the high potential of growth of the mineralized system."
Composited per cent triuranium octoxide mineralized intervals are summarized in the attached table. Samples from the drill core are split in half on site. Where possible, samples are standardized at 0.5-metre downhole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories in Saskatoon, Sask., for analysis, while the other half remains on site for reference. All depth measurements reported, including sample and interval widths are downhole, and core interval measurements and true thickness are yet to be determined.
R945E ZONE RESULTS
Zone Hole ID From (m) To (m) Interval (m) U3O8 (wt %)
R945E PLS13-084 101.50 102.00 0.50 0.07
103.00 103.50 0.50 0.06
116.50 116.50 0.50 0.05
129.50 137.50 8.00 0.11
156.50 182.00 25.50 0.27
184.50 192.00 7.50 0.08
195.00 202.00 7.00 0.30
206.50 219.00 12.50 0.13
226.00 226.50 0.50 0.22
232.50 246.00 13.50 3.69
235.00 236.00 1.00 9.12
240.50 245.00 4.50 7.27
248.50 249.00 0.50 0.79
252.00 252.50 0.50 0.05
277.00 278.00 0.50 0.10
282.50 283.00 0.50 0.06
288.50 291.50 3.00 0.13
296.00 297.00 1.00 0.18
PLS13-092 158.00 160.00 2.00 0.08
163.00 179.00 16.00 0.84
165.50 169.50 4.00 1.62
172.00 172.50 0.50 6.22
192.50 193.00 0.50 0.22
196.00 203.50 7.50 0.15
224.50 225.00 0.50 0.35
238.00 240.50 2.50 0.30
259.50 260.00 0.50 0.08
263.50 264.00 0.50 0.05
290.00 291.50 1.50 0.21
317.50 318.00 0.50 0.06
PLS13-096 98.00 105.50 7.50 0.30
112.00 112.50 0.50 0.06
138.00 178.00 40.00 1.59
173.50 176.50 3.00 14.22
182.00 183.00 1.00 0.56
186.00 197.00 11.00 2.40
186.00 188.00 2.00 6.91
204.50 206.00 1.50 0.76
219.50 220.00 0.50 0.18
224.00 225.00 1.00 0.26
236.00 241.00 5.00 0.15
243.50 246.00 2.50 1.47
244.00 245.00 1.00 3.41
249.50 263.50 14.00 7.91
250.50 256.00 5.50 18.20
286.50 287.00 0.50 0.05
296.00 296.50 0.50 0.23
Drill hole PLS13-084 (line 945E), the first hole drilled into the R945E zone, was collared as a vertical hole and was completed at a depth of 350.0 m. A total composite mineralization of 82.0 m composed of 16 discrete mineralized intervals grading greater than 0.05 per cent U3O8 and ranging in width from 0.5 m to 25.5 m wide was intersected over a 195.5-metre span (101.5 m to 297.0 m). This represents 42 per cent of the entire 195.5-metre section being mineralized. The strongest interval returned a value of 3.69 per cent U3O8 over 13.5 m (232.5 m to 246.0 m), including two higher-grade intervals returning 9.12 per cent U3O8 over 1.0 m (235.0 m to 236.0 m) and 7.27 per cent U3O8 over 4.5 m (240.5 m to 245.0 m), respectively. A 25.5-metre-wide mineralized zone (156.5 m to 182.0 m) returned a composite grade of 0.27 per cent U3O8.
Drill hole PLS13-092 (line 945E) was collared as a vertical hole and was completed at a depth of 377.0 m. The collar is located 10 m grid north of PLS13-084. A total of 10 discrete mineralized intervals grading greater than 0.05 per cent U3O8 and ranging in width from 0.5 m to 16.0 m wide were intersected over a 160.0-metre span (158.0 m to 318.0 m). The strongest interval returned a value of 0.84 per cent U3O8 over 16.0 m (163.0 m to 179.0 m), including two higher-grade intervals returning 1.62 per cent U3O8 over 4.0 m (165.5 m to 169.5 m) and 6.22 per cent U3O8 over 0.5 m (172.0 m to 172.5 m), respectively.
Drill hole PLS13-096 (line 930E) was collared as a vertical hole and was completed at a depth of 365.0 m. A total composite mineralization of 85.5 m composed of 13 discrete mineralized intervals grading greater than 0.05 per cent U3O8 and ranging in width from 0.5 m to 40.0 m wide were intersected over a 198.5-metre span (98.0 m to 296.5 m). This represents 43 per cent of the entire 198.5-metre section being mineralized. The strongest interval returned a value of 7.91 per cent U3O8 over 14.0 m (249.5 m to 263.5 m), including a higher-grade interval returning 18.2 per cent U3O8 over 5.5 m (250.5 m to 256.0 m). A robust 40.0-metre-wide mineralized zone (138.0 m to 178.0 m) returned a composite grade of 1.59 per cent U3O8, including a higher-grade interval returning 14.22 per cent U3O8 over 3.0 m.
Patterson Lake South property
The 31,039-hectare PLS project is 100 per cent owned and operated by Fission Uranium. 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 50 kilometres to the north, currently under active exploration and development. Updated maps and a scintillometer table for the R390 zone can be found on the company's website.
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 Mr. McElroy, PGeol, president and chief operating officer for Fission Uranium, and a qualified person.
We seek Safe Harbor.
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