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Fission Uranium Corp
Symbol C : FCU
Shares Issued 486,014,642
Close 2019-03-11 C$ 0.48
Recent Sedar Documents

Fission drills 4.52m of 10,000 cps radioactivity at PLS

2019-03-12 06:16 ET - News Release

Mr. Ross McElroy reports

FISSION HITS STRONG MINERALIZATION OUTSIDE OF CURRENT HIGH-GRADE DOMAIN MODEL AND ADVANCES MINE PLANNING

Fission Uranium Corp. has released results from three holes of the winter work program at its PLS property in Canada's Athabasca basin region. The three holes were drilled on the R780E zone with the dual purpose of resource expansion and geotechnical testing of rock mechanics for mine planning. All three intercepted high-grade mineralization that fit within, and expanded beyond the boundaries of the current modelled high-grade domain. Results include hole PLS19-PW-09, which intercepted a 37.5-metre continuous zone of strong uranium mineralization with a near-continuous 3.72 m interval of greater than 10,000 counts per second and a peak of 61,115 cps. In addition, hole PLS19-PW-10 intercepted 47.5 m total composite mineralization, including 3.98 m of total composite greater than 10,000 cps. With the completion of these holes, the program is now focusing on geotechnical drilling on the ring dike and cut-off wall, as well as hydrogeology and pump testing.

Results highlights:

  • PLS19-PW-09 (line 735E) successfully targeted a large jog in the eastern high-grade core model where the high-grade core was interpreted to extend:
    • 41.0 m total composite mineralization over a 74 m interval (between 130.0 m and 204.0 m), including:
      • 4.52 m total composite greater than 10,000 cps.
  • PLS19-PW-010 (line 990E) successfully targeted the interpreted extension of the R780E high-grade core, approximately 120 m east of the current high-grade resource model:
    • 47.5 m total composite mineralization over a 207.5 m interval (between 108.0 m and 315.5 m), including:
      • 3.98 m total composite greater than 10,000 cps.
  • PLS19-PW-08 (line 615E) successfully targeted a low-grade gap between the middle and eastern R780E high-grade cores, with the aim to identify new high-grade mineralization outside of the current model:
    • 71.5 m total composite mineralization over a 123 m interval (between 121.0 m and 244.0 m), including:
      • 2.0 m of total composite greater than 10,000 cps.

Ross McElroy, president, chief operating officer, and chief geologist for Fission, commented: "We are very pleased with the results and current progress of the winter program at PLS. These drill holes accomplished the goals set out with respect to intersecting mineralization within the modelled high-grade domain and, over all, look to have expanded beyond the modelled domain. These important results highlight the potential for growth as the R780E zone is further delineated."

                                               R780E ZONE

                      Hand-held scintillometer results
Hole ID        on mineralized drill core (greater than                        Basement
                   300 cps/greater than 0.5 m minimum)   Lake   Sandstone unconformity  Total drill
                 From     To     Width  CPS peak range  depth     from-to        depth   hole depth
                  (m)    (m)       (m)                    (m)         (m)          (m)          (m)
                                             less than
PLS19-PW-08     121.0  146.5      25.5      300-15,600    7.4          NA         62.0        407.0
                                             less than
                151.5  157.0       5.5      300-15,500
                                             less than
                162.0  165.5       3.5       300-8,800
                                             less than
                178.0  179.5       1.5         300-410
                                             less than
                195.5  198.5       3.0       300-3,600
                                             less than
                201.5  210.5       9.0      300-15,700
                                             less than
                213.0  227.5      14.5      300-23,600
                                             less than
                230.0  238.5       8.5       300-1,200
                243.5  244.0       0.5             300
PLS19-PW-09     130.0  130.5       0.5             400    7.4          NA         61.9        335.9
                                             less than
                141.0  178.5      37.5      300-61,115
                198.5  199.0       0.5           1,200
                201.5  204.0       2.5      500-18,100
PLS19-PW-10     108.0  109.5       1.5       400-2,800    7.9          NA         65.6        372.5
                129.5  131.0       1.5         320-530
                145.5  146.0       0.5             340
                149.0  149.5       0.5             480
                                             less than
                172.0  191.0      19.0      300-58,300
                200.5  201.0       0.5             360
                                             less than
                210.5  215.0       4.5       300-1,000
                                             less than
                224.5  241.5      17.0       300-7,100
                291.5  292.0       0.5             490
                313.5  315.5       2.0      500-30,400

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 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 ISO/IEC 17025: 2005-accredited facility) in Saskatoon, Sask., for analysis which includes 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.

Further technical details

PLS19-PW-08 (line 615E)

PLS19-PW-08 targeted a low-grade gap between the middle and eastern R780E high-grade core models, and aimed to identify new high-grade mineralization outside of the current resource model. Moderate to strong radioactivity was intersected in the gap zone beginning at 121.0 m downhole, returning a 25.5 m wide main interval which included 0.7 m greater than 10,000 counts per second (cps) on RS-121 hand-held scintillometer. These results represent the strongest radioactivity on line 615E to date. Based on the current high-grade core model an interval of strong radioactivity was expected at approximately 140.0 m downhole which, as noted above, was instead intersected 19 m higher up in the hole. A second zone of strong radioactivity was expected at approximately 152.0 m which was successfully intersected and correlates well with the high-grade core model.

PLS19-PW-09 (line 735E)

PLS19-PW-09 targeted a large jog in the eastern high-grade core model where the high-grade core was interpreted to extend. A 37.5 m wide zone of strong uranium mineralization was intersected, beginning at 141.0 m downhole with a near-continuous 3.72 m interval of greater than 10,000 cps occurring in the jog outside of the current high-grade core model. Based on the current high-grade core model the potential existed for a thin zone of strong radioactivity between 145 m to 148 m downhole. The hole actually intersected a 37.5 m mineralized zone between 141 m to 178.5 m.

PLS19-PW-10 (line 990E)

PLS19-PW-10 targeted the interpreted extension of the R780E high-grade core approximately 120 m east of the current high-grade resource. A 19 m wide zone of strong uranium mineralization was intersected beginning at a depth of 172 m with a total of 3.78 m greater than 10,000 cps. No high-grade core model exists in the vicinity of PLS19-PW-10 but two vertical drill holes PLS14-180 (5.5 m averaging 18.56 per cent U3O8) and PLS14-158 (5.0 m averaging 8.57 per cent U3O8) are located approximately four m and eight m to the east, respectively. The location of the strong radioactivity in PLS19-PW-10 correlates well with strong radioactivity in drill holes PLS14-180 and 158 and suggests potential exists to define additional high-grade domains east of the currently defined high-grade core.

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 kilometres 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 to 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.

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 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, B.C.

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