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Fission Uranium Corp
Symbol FCU
Shares Issued 585,470,481
Close 2021-04-06 C$ 0.63
Recent Sedar Documents

Fission U drills 4.8 m of 10k cps radioactivity at PLS

2021-04-07 06:49 ET - News Release

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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