Mr. Ross McElroy reports
FISSION RESOURCE EXPANSION PROGRAM HITS WIDE MINERALIZATION IN ALL 20 HOLES
Fission Uranium Corp. has released results from the first of its 2021 drill programs on the R780E zone of the high-grade Triple R deposit at its PLS project in the Athabasca basin region of Saskatchewan, Canada. Twenty holes were completed in 7,147.8 metres, including one hole restarted due to excessive deviation. All 20 holes
hit wide mineralization in multiple stacked intervals, with 13 intercepting significant intervals of greater than 10,000 counts per second radioactivity. The goal of the winter program was to upgrade key sections of the Triple R deposit's R780E zone to indicated category by increasing drill hole density where the resource is largely classified as inferred. These recently completed holes have the potential to increase the indicated category resource, which may positively impact the planned feasibility study. The holes include PLS21-606 (line 900E), which intersected
118.0 m
of total composite mineralization, including
1.35 m
of total composite radioactivity greater than 10,000 cps (with a peak of 23,400 cps) and PLS21-597 (line 900E) with
92.0 m
total composite mineralization, including
4.80 m
total greater than 10,000 cps (with a peak of 51,400 cps).
Ross McElroy, chief executive officer for Fission, commented: "This is the first of our 2021 drill programs and I'm very pleased to report that we have met, and in numerous instances exceeded, our expectations on width and strength of mineralization in all 20 holes. We continue to make strong progress towards feasibility, and these results will be instrumental in delivering a key part of our deposit growth strategy."
Drilling highlights:
- Twenty holes hit significant mineralization over wide intervals. Twenty-one holes were drilled (7,147.8 m) including 20 holes completed (7,046.8 m) with one abandoned and redrilled due to deviation from target.
- Triple R deposit resource drilling: Drilling successfully targeted an important mainly inferred categorized area of the eastern R780E zone between lines 900E and 1125E, using stepout and infill drilling to achieve spacing of about 15 m by 20 m (horizontal/vertical), with the aim of conversion from inferred to indicated.
- Hole PLS21-597 (line 900E) hit
92.0 m
total composite mineralization over a 214 m interval (between 117.0 m and 331.0 m), including
4.8 m
of total composite mineralization greater than 10,000 cps.
- Hole PLS21-605 (line 930E)
hit 110.0 m
total composite mineralization over a 272.5 m interval (between 105.5 m and 378.0 m), including
4.15 m
of total composite mineralization greater than 10,000 cps.
- Hole PLS21-595 (line 1050E) hit
46.0 m
total composite mineralization over a 73.5 m interval (between 264.0 m to 337.5 m), including
4.75 m
of total composite mineralization greater than 10,000 cps.
DRILL HOLE SUMMARY
Hand-held scintillometer
results on mineralized drill core
Hole ID (greater than 300 cps/greater
than 0.5 m minimum)
Sandstone Basement Total
CPS peak Lake from -- unconformity drill hole
From To Width range depth to depth depth
(m) (m) (m) (m) (m) (m) (m)
PLS21-592 hole abandoned due to excessive deviation 8.3 NA 69.3 101.0
less than
PLS21-592A 190.5 192.0 1.5 300-370 8.3 NA 71.3 287.0
less than
197.0 203.5 6.5 300-1,700
207.0 209.0 2.0 330-840
214.5 216.0 1.5 610-740
220.0 251.5 31.5 320-27,300
286.5 287.0 0.5 330
less than
PLS21-593 229.0 243.0 14.0 300-2,800 8.2 NA 74.6 356.0
245.5 246.0 0.5 320
249.0 251.0 2.0 680-1,200
263.5 265.0 1.5 770-3,400
less than
268.5 274.0 5.5 300-790
less than
278.0 282.5 4.5 300-910
293.5 298.5 5.0 420-12,200
299.5 302.0 2.5 420-1,100
303.5 305.5 2.0 510-610
307.0 307.5 0.5 400
343.5 344.0 0.5 530
PLS21-594 151.0 153.0 2.0 310-480 8.2 NA 68.5 281.0
155.0 156.0 1.0 950-2,000
158.5 159.5 1.0 330-440
160.0 162.0 2.0 340-1,050
164.0 165.5 1.5 330-1,200
181.0 181.5 0.5 340
182.0 183.0 1.0 300-360
191.5 192.0 0.5 300
196.0 199.0 3.0 680-14,400
202.0 204.0 2.0 360-1,300
205.0 206.5 1.5 430-610
213.5 216.0 2.5 400-1,900
216.5 217.0 0.5 460
266.5 267.5 1.0 430-1,400
PLS21-595 264.0 270.0 6.0 320-12,500 7.0 NA 72.7 353.0
272.0 279.0 7.0 330-3,700
less than
282.0 314.0 32.0 300-45,600
317.0 317.5 0.5 410
337.0 337.5 0.5 1,100
less than
PLS21-596 175.0 179.0 4.0 300-460 8.2 NA 70.8 338.0
183.0 183.5 0.5 340
less than
186.0 199.0 13.0 300-4,200
less than
203.0 207.5 4.5 300-600
less than
214.0 227.0 13.0 300-11,400
less than
231.5 236.5 5.0 300-3,400
276.0 277.0 1.0 310-720
288.5 289.0 0.5 710
less than
296.5 302.5 6.0 300-950
less than
310.5 313.5 3.0 300-440
322.0 322.5 0.5 370
PLS21-597 117.0 118.5 1.5 320-1,100 8.2 NA 63.0 383.0
124.5 125.5 1.0 370-570
133.0 133.5 0.5 340
less than
136.0 147.0 11.0 300-2,400
less than
150.5 152.0 1.5 300-510
157.0 158.0 1.0 430-710
177.5 184.5 7.0 360-25,100
less than
189.0 201.0 12.0 300-51,400
217.0 218.0 1.0 5,300-8,000
223.0 224.0 1.0 420-2,700
229.0 230.0 1.0 1,100-4,700
less than
233.0 239.0 6.0 300-26,300
less than
243.5 259.5 16.0 300-42,200
less than
264.5 290.0 25.5 300-5300
less than
293.5 295.5 2.0 300-360
less than
317.0 320.0 3.0 300-4,300
325.0 325.5 0.5 410
330.5 331.0 0.5 500
less than
PLS21-598 183.5 185.5 2.0 300-440 8.2 NA 68.3 359.0
less than
191.0 199.5 8.5 300-3,700
204.5 205.5 1.0 310-1,100
219.0 219.5 0.5 490
222.0 223.0 1.0 330-1,100
less than
273.0 283.5 10.5 300-620
294.0 295.0 1.0 890-1,200
less than
297.5 307.5 10.0 300-6,200
313.0 314.0 1.0 420-520
321.0 322.0 1.0 530-2,600
348.5 351.5 3.0 330-780
PLS21-599 137.0 137.5 0.5 1,000 8.3 NA 68.4 326.0
less than
166.0 173.5 7.5 300-7,200
less than
176.5 179.5 3.0 300-710
less than
182.0 184.0 2.0 300-1,100
less than
188.5 191.0 2.5 300-330
less than
197.0 214.0 17.0 300-4,800
221.0 224.0 3.0 410-2,900
288.5 289.0 0.5 580
less than
301.5 304.0 2.5 300-3,800
PLS21-600 110.5 114.0 3.5 350-1,100 7 NA 66.3 374.0
less than
126.5 142.5 16.0 300-2,700
169.5 170.0 0.5 310
172.5 174.5 2.0 350-670
less than
177.0 181.0 4.0 300-1,600
less than
184.0 195.0 11.0 300-30,100
205.0 206.5 1.5 390-25,200
217.0 218.5 1.5 360-430
221.5 222.0 0.5 460
226.5 228.0 1.5 620-1,600
231.0 232.0 1.0 3600-4,200
less than
236.0 239.5 3.5 300-4,700
less than
259.0 271.5 12.5 300-57,000
less than
274.5 295.0 20.5 300-18,300
297.5 300.0 2.5 310-850
less than
313.0 315.0 2.0 300-740
318.0 318.5 0.5 940
347.0 350.0 3.0 330-650
less than
PLS21-601 118.5 133.5 15.0 300-3,100 8.2 NA 66.8 377.0
145.5 147.5 2.0 370-1,200
less than
153.5 155.0 1.5 300-620
less than
160.5 198.0 37.5 300-61,000
less than
203.0 215.5 12.5 300-5,100
225.5 226.0 0.5 800
less than
237.0 262.5 25.5 300-3,500
269.0 271.0 2.0 370-460
297.5 300.5 3.0 360-8,100
less than
305.5 308.0 2.5 300-530
less than
317.0 320.5 3.5 300-2,200
331.0 331.5 0.5 490
354.5 355.5 1.0 300-380
375.0 376.0 1.0 460-800
PLS21-602 99.5 100.0 0.5 380 8.2 NA 69.9 382.0
108.0 108.5 0.5 480
less than
134.5 136.0 1.5 300-990
less than
176.0 177.5 1.5 300-380
less than
185.5 195.0 9.5 300-1,500
less than
206.5 212.5 6.0 300-1,700
221.5 222.5 1.0 580-880
less than
228.5 242.5 14.0 300-14,900
less than
246.5 251.5 5.0 300-3,200
less than
300-
greater than
264.5 280.0 15.5 65,535
less than
286.0 321.0 35.0 300-12,300
less than
342.0 347.5 5.5 300-1,500
372.0 372.5 0.5 350
PLS21-603 98.0 100.5 2.5 350-510 8.2 NA 69.8 363.0
110.0 110.5 0.5 530
134.0 139.5 5.5 420-5,800
less than
148.5 154.0 5.5 300-510
less than
156.5 160.5 4.0 300-450
165.5 166.5 1.0 380
less than
172.0 185.5 13.5 300-1,300
213.0 214.0 1.0 5,200-20,000
less than
221.0 225.0 4.0 300-3,800
less than
231.0 240.5 9.5 300-1,700
244.5 250.0 5.5 320-3,500
270.0 274.0 4.0 470-33,000
279.5 288.0 8.5 390-13,200
292.0 292.5 0.5 530
less than
295.0 300.0 5.0 300-5,000
303.0 303.5 0.5 440
less than
308.5 320.0 11.5 300-1,200
337.0 338.5 1.5 330-470
345.5 346.0 0.5 640
PLS21-604 131.5 132.0 0.5 480 8.2 NA 62.3 374.0
less than
171.5 198.0 26.5 300-1,700
less than
233.5 237.0 3.5 300-750
240.0 240.5 0.5 310
less than
257.0 260.5 3.5 300-1,500
less than
268.0 274.5 6.5 300-580
279.5 280.0 0.5 380
283.5 284.0 0.5 390
less than
286.5 294.0 7.5 300-1,700
298.0 302.0 4.0 460-4,700
319.0 319.5 0.5 340
less than
323.0 329.5 6.5 300-860
less than
332.0 338.0 6.0 300-1,000
PLS21-605 105.5 106.5 1.0 330-650 8.2 NA 72.1 389.0
116.0 116.5 0.5 420
less than
136.5 142.5 6.0 300-1,400
less than
145.0 147.5 2.5 300-1,300
less than
150.0 159.5 9.5 300-750
less than
163.5 183.5 20.0 300-9,100
less than
205.5 207.5 2.0 300-1,100
210.0 212.5 2.5 410-700
less than
221.0 225.5 4.5 300-1,100
less than
247.5 259.5 12.0 300-47,700
262.5 263.5 1.0 580-17,000
less than
270.0 296.0 26.0 300-44,200
less than
298.5 306.5 8.0 300-3,800
309.0 310.0 1.0 340-1,000
less than
313.0 318.0 5.0 300-520
320.5 321.0 0.5 480
323.5 324.0 0.5 640-10,400
337.0 338.5 1.5 790-1,900
less than
353.5 355.5 2.0 300-350
361.5 362.5 1.0 620-680
369.5 370.5 1.0 460-550
373.0 374.5 1.5 330-650
377.5 378.0 0.5 780
less than
PLS21-606 103.0 106.0 3.0 300-1,600 8.2 NA 62.0 371.0
less than
118.5 122.0 3.5 300-530
less than
141.0 168.5 27.5 300-23,400
less than
173.5 198.0 24.5 300-14,100
203.5 205.0 1.5 310-2,500
213.5 215.5 2.0 320-2,100
less than
229.0 272.5 43.5 300-9,800
280.0 284.0 4.0 570-3,000
286.5 287.5 1.0 1,600-6,100
291.0 292.5 1.5 510-5,300
295.5 296.0 0.5 330
308.5 309.0 0.5 390
316.0 317.5 1.5 320-860
less than
325.0 328.5 3.5 300-3,300
less than
PLS21-607 190.0 195.0 5.0 300-2,800 8.2 NA 74.3 344.0
less than
203.5 206.0 2.5 300-3,000
212.0 213.0 1.0 300-740
less than
218.0 238.0 20.0 300-58,700
244.5 245.0 0.5 700
less than
280.0 297.5 17.5 300-5,800
305.0 309.0 4.0 300-6,700
312.0 313.0 1.0 950-1,100
324.0 326.0 2.0 300-870
331.0 331.5 0.5 370
PLS21-608 113.0 119.5 6.5 330-2,400 8.2 NA 66.2 363.8
less than
175.5 183.0 7.5 300-2,400
less than
185.5 187.0 1.5 300-340
less than
190.0 198.0 8.0 300-640
less than
201.0 210.5 9.5 300-3,300
less than
218.5 220.5 2.0 300-1,600
223.5 225.0 1.5 420-470
228.5 230.5 2.0 300-930
less than
234.5 239.0 4.5 300-4,700
less than
245.5 258.0 12.5 300-54,100
less than
275.0 304.0 29.0 300-20,100
less than
318.0 329.5 11.5 300-3,000
344.5 346.0 1.5 600-1,400
PLS21-609 105.5 106.0 0.5 930 8.2 NA 68.7 329.0
less than
215.0 236.5 21.5 300-9,100
less than
239.0 245.0 6.0 300-1,300
less than
252.5 260.5 8.0 300-1,100
less than
270.0 279.0 9.0 300-1,100
less than
282.5 286.5 4.0 300-950
302.0 303.0 1.0 420-870
less than
306.0 321.0 15.0 300-3,400
PLS21-610 148.0 148.5 0.5 420 8.2 NA 66.2 365.0
less than
168.0 172.0 4.0 300-490
less than
180.0 199.0 19.0 300-3,200
less than
201.5 205.5 4.0 300-1,400
228.0 228.5 0.5 340
231.0 231.5 0.5 7,800-15,600
less than
235.5 241.0 5.5 300-28,900
less than
245.0 247.0 2.0 300-1,500
less than
252.0 261.5 9.5 300-2,800
less than
283.5 305.5 22.0 300-23,700
308.5 321.5 13.0 300-3,500
less than
327.0 337.0 10.0 300-4,100
less than
355.5 359.0 3.5 300-600
less than
PLS21-611 196.5 199.5 3.0 300-1,100 8.2 NA 68.8 332.0
207.5 209.5 2.0 320-980
less than
222.0 234.5 12.5 300-15,400
274.5 275.0 0.5 380
less than
286.5 291.5 5.0 300-570
294.0 295.0 1.0 420-640
Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using either a hand-held RS-230 or RS-125 scintillometer, both manufactured by Radiation Solutions, which are 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 downhole. 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 five zones have a complex geometry controlled by and parallel to steeply south-dipping lithological boundaries as well as a preferential subhorizontal orientation.
Samples from the drill core will be split in half sections on site and where possible, samples will be standardized at 0.5 m downhole intervals. One-half of the split sample will be sent to SRC Geoanalytical Laboratories (an SCC (Standards Council of Canada) ISO/IEC (International Organization for Standardization/International Electrotechnical Commission) 17025:2005-accredited facility) in Saskatoon, Sask., for analysis which includes U3O8 (triuranium octoxide) (weight per cent) and fire assay for gold, while the other half remains on site for reference. All analysis includes a 63-element ICP-OES (inductively coupled plasma optical emission spectroscopy), uranium by fluorimetry and boron.
PLS mineralized trend and 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 about 3.18 km 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 Nov. 5, 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 55 m and 100 m. R1515W is the westernmost of the zones and is drill defined to about 90 m in strike length, about 68 m across strike and about 220 m vertical and where mineralization remains open in several directions. R840W is located about 515 m to the east along strike of R1515W and has a drill-defined strike length of about 430 m. R00E is located about 485 m to the east along strike of R840W and is drill defined to about 115 m 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 50 m. R780E is located about 225 m to the east of R00E and has a drill-defined strike length of about 945 m. R1620E is located about 210 m along strike to the east of R780E and is drill defined to about 185 m in strike length.
The company completed and filed a prefeasibility study on Nov. 7, 2019, titled "Prefeasibility Study on the Patterson Lake South Property Using Underground Mining Methods, Northern Saskatchewan, Canada." The report summarizes the prefeasibility study (UG PFS), which outlines an underground-only mining scenario for PLS, which to date has only considered the R00E and R780E zones. Further work, including additional drilling, may provide sufficient data for future inclusion of the R1515W, R840W and R1620E zones into the feasibility study mine plan.
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 electromagnetic (EM) conductor.
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 km 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, PGeol, president and chief operating officer for Fission Uranium, a qualified person.
About Fission Uranium Corp.
Fission Uranium is a Canada-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, B.C.
We seek Safe Harbor.
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