Fission Hits 11.10% U3O8 Over 3m in 4.22% U3O8 Over 8m; Wraps Up
Summer Assays
Final summer assays confirm broad mineralization, highlight
western end of discovery
KELOWNA, BRITISH COLUMBIA--(Marketwired - Feb 5, 2014) - FISSION
URANIUM CORP. (TSX-VENTURE:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU)
("Fission" or "the Company") is pleased to announce assays for the
final twenty holes of the summer 2013 drill program at its
Patterson Lake South (PLS) property in Canada's Athabasca Basin. Of
particular note is hole PLS13-109 (line 750E) which returned 4.22%
U3O8 over 8.0m including a higher grade interval of 11.10% U3O8
over 3.0m. Of additional note is the broad mineralization returned
by the recently discovered R600W zone, the land-based westernmost
zone of the PLS drill-hole discoveries. This highlights the
prolific and highly prospective nature of the PL-3B corridor which
hosts the 1.78km strike length identified so far.
All five lake-based holes and five of the six holes on R600W
returned considerable mineralization. Nine additional regional
holes were unmineralized, however, the data provided by these holes
has contributed significantly to Fission's understanding of the
geological setting and controls of mineralization at PLS.
Assay Highlights include:
PLS13-109 (line 750E)
- 8.0m (108.0m to 116.0m) @ 4.22% U3O8, including
- 3.0m (108.0m to 111.0m) @ 11.1% U3O8
- Best Assay in hole: 0.5m (110.5m to 111.0m) @ 24.6% U3O8
PLS13-108 (line 810E)
- 19.5m (152.5m to 172.0m) @ 0.99% U3O8, including
- 1.5m (188.5m to 190.0m) @ 6.52% U3O8
Ross McElroy, President, COO, and Chief Geologist for Fission,
commented,
"We are very encouraged by the highly successful summer 2013
program which showed the continued overall growth of high grades at
PLS as well as the multiple and thick intervals returned by holes
at the western end of the strike length. The evidence that PLS is
host to a large-scale mineralized system continues to build
rapidly."
Composited % U3O8 mineralized intervals are summarized in Tables
1, 2, 3 and 4 below. Samples from the drill core are split in half
sections on site. Where possible, samples are standardized at 0.5m
down-hole intervals. One-half of the split sample is sent to SRC
Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited
Facility) in Saskatoon, SK for analysis which includes U3O8 (wt %)
and fire assay for gold, while the other half remains on site for
reference. All analysis include a 63 element ICP-OES, uranium by
fluorimetry and boron. All depth measurements reported, including
sample and interval widths are down-hole, core interval
measurements and true thickness are yet to be determined.
R585E Zone:
The R585E zone is located approximately 90m grid east of the
easternmost defined edge of the R390E zone (defined by PLS13-088 on
line 480E) and presently has a defined strike length of 30m (line
570E to line 600E) and a lateral grid north-south width of up to
approximately 10m, as defined by 4 holes. The R585E discovery hole
(PLS13-098) was targeted along the northern edge of the low
resistivity feature, which is associated with the mineralized
east-northeast trending pelitic corridor and a coincident radon in
water anomaly. The geologic setting of the R585E zone is similar to
other zones, consisting of mineralization primarily associated with
sequences of steeply south dipping pelitic lithology with localized
mylonites and cataclasites.
Table 1
| Composited Mineralized Intervals (Down-hole
measurements) |
|
Zone |
Hole ID |
Grid Line |
From (m) |
To (m) |
Interval (m) |
U3O8 (wt%) |
|
R585E |
PLS13-106 |
585E |
101.50 |
102.00 |
0.50 |
0.06 |
|
|
|
|
114.00 |
114.50 |
0.50 |
0.12 |
|
|
|
|
118.00 |
118.50 |
0.50 |
0.16 |
|
|
|
|
121.50 |
122.50 |
1.00 |
0.08 |
|
|
|
|
125.00 |
126.00 |
1.00 |
0.12 |
|
|
|
|
131.50 |
132.00 |
0.50 |
0.20 |
|
|
|
|
136.50 |
137.00 |
0.50 |
0.37 |
|
|
|
|
152.00 |
153.50 |
1.50 |
0.24 |
|
|
|
|
158.50 |
164.00 |
5.50 |
0.19 |
|
|
|
|
166.50 |
183.50 |
17.00 |
0.11 |
|
|
|
|
186.50 |
188.00 |
1.50 |
0.18 |
|
|
|
|
193.50 |
198.50 |
5.00 |
0.15 |
|
|
|
|
202.00 |
214.50 |
12.50 |
0.39 |
|
|
|
|
218.00 |
220.50 |
2.50 |
0.05 |
|
|
|
|
223.00 |
231.00 |
8.00 |
0.13 |
|
|
|
|
233.50 |
242.50 |
9.00 |
0.18 |
Composite Parameters
- Minimum Thickness: 0.50m
- Grade Cut-off: 0.05 U3O8 (wt%)
- Maximum Internal Dilution: 2.00m
Line 585E:
- Drillhole PLS13-106 was collared as a vertical hole and was
completed at a depth of 332.0m. The collar is located approximately
10m grid north of PLS13-098. A total of 16 discrete mineralized
intervals grading >0.05% U3O8 and ranging in width from 0.5m to
17.0m and separated by unmineralized sections ranging from 2.5m -
15.0m wide, were intersected over a 141.0m section (101.5m -
242.5m) (see Table 1).
R780E Zone:
The R780E zone is located approximately 150m grid east of the
easternmost defined edge of the R585E zone (defined by PLS13-129 on
line 600E) and presently has a defined strike length of 75m (line
750E to line 825E) and a lateral grid north-south width of up to
approximately 60m, as defined by 14 holes. The discovery hole
(PLS13-048) was targeted in the middle of an identified radon in
water anomaly. The geologic setting of the R780E zone is similar to
other zones, consisting of mineralization primarily associated with
sequences of steeply south dipping pelitic lithology with localized
mylonites and cataclasites.
Table 2
| Composited Mineralized Intervals (Down-hole
measurements) |
|
Zone |
Hole ID |
Grid Line |
From (m) |
To (m) |
Interval (m) |
U3O8 (wt%) |
|
R780E |
PLS13-105 |
765E |
107.00 |
107.50 |
0.50 |
0.15 |
|
|
|
|
109.50 |
110.00 |
0.50 |
0.07 |
|
|
|
|
113.00 |
122.50 |
9.50 |
0.36 |
|
|
|
|
128.00 |
131.00 |
3.00 |
3.93 |
|
|
|
|
128.50 |
129.50 |
1.00 |
10.85 |
|
|
|
|
145.50 |
148.50 |
3.00 |
0.15 |
|
|
|
|
151.00 |
151.50 |
0.50 |
0.09 |
|
|
|
|
189.00 |
192.50 |
3.50 |
1.12 |
|
|
|
|
195.00 |
197.50 |
2.50 |
0.10 |
|
|
|
|
204.00 |
204.50 |
0.50 |
0.16 |
|
|
|
|
210.50 |
211.50 |
1.00 |
0.32 |
|
|
|
|
245.00 |
246.00 |
1.00 |
0.20 |
|
|
|
|
249.00 |
249.50 |
0.50 |
0.30 |
|
|
|
|
253.00 |
253.50 |
0.50 |
0.06 |
|
|
|
|
263.50 |
264.50 |
1.00 |
0.27 |
|
|
|
|
326.50 |
330.50 |
4.00 |
0.06 |
|
|
PLS13-107 |
765E |
137.50 |
166.50 |
29.00 |
0.17 |
|
|
|
|
171.50 |
174.50 |
3.00 |
1.94 |
|
|
|
|
178.50 |
179.50 |
1.00 |
0.92 |
|
|
|
|
192.50 |
199.00 |
6.50 |
0.57 |
|
|
|
|
197.50 |
198.50 |
1.00 |
1.58 |
|
|
|
|
203.50 |
204.00 |
0.50 |
0.09 |
|
|
|
|
207.00 |
207.50 |
0.50 |
0.15 |
|
|
|
|
251.50 |
265.00 |
13.50 |
0.23 |
|
|
|
|
267.50 |
274.00 |
6.50 |
0.22 |
|
|
|
|
289.00 |
290.00 |
1.00 |
0.27 |
|
|
|
|
306.50 |
309.50 |
3.00 |
0.10 |
|
|
PLS13-108 |
810E |
81.00 |
81.50 |
0.50 |
0.07 |
|
|
|
|
91.00 |
91 .50 |
0.50 |
0.06 |
|
|
|
|
96.50 |
97.00 |
0.50 |
0.09 |
|
|
|
|
102.00 |
102.50 |
0.50 |
0.15 |
|
|
|
|
107.50 |
112.50 |
5.00 |
0.06 |
|
|
|
|
117.00 |
122.00 |
5.00 |
0.05 |
|
|
|
|
125.50 |
130.00 |
4.50 |
0.18 |
|
|
|
|
132.50 |
140.00 |
7.50 |
0.11 |
|
|
|
|
143.50 |
144.00 |
0.50 |
0.31 |
|
|
|
|
148.50 |
149.00 |
0.50 |
0.20 |
|
|
|
|
152.50 |
172.00 |
19.50 |
0.99 |
|
|
|
|
156.00 |
158.00 |
2.00 |
3.46 |
|
|
|
|
166.75 |
168.00 |
1.25 |
3.92 |
|
|
|
|
174.50 |
181.00 |
6.50 |
0.67 |
|
|
|
|
174.50 |
177.00 |
2.50 |
1.64 |
|
|
|
|
184.50 |
195.50 |
11.00 |
1.33 |
|
|
|
|
188.50 |
190.00 |
1.50 |
6.52 |
|
|
|
|
200.50 |
202.00 |
1.50 |
0.21 |
|
|
|
|
217.00 |
217.50 |
0.50 |
0.06 |
|
|
|
|
228.00 |
232.50 |
4.50 |
3.48 |
|
|
|
|
268.00 |
269.00 |
1.00 |
0.55 |
|
|
|
|
275.50 |
276.00 |
0.50 |
0.13 |
|
|
PLS13-109 |
750E |
108.00 |
116.00 |
8.00 |
4.22 |
|
|
|
|
108.00 |
111.00 |
3.00 |
11.10 |
|
|
|
|
137.50 |
138.50 |
1.00 |
0.09 |
|
|
|
|
141.00 |
158.50 |
17.50 |
0.55 |
|
|
|
|
161.00 |
163.00 |
2.00 |
0.05 |
|
|
|
|
168.50 |
169.00 |
0.50 |
0.44 |
|
|
|
|
174.00 |
174.50 |
0.50 |
0.06 |
|
|
|
|
178.00 |
179.00 |
1.00 |
0.22 |
|
|
|
|
181.50 |
182.00 |
0.50 |
0.52 |
|
|
|
|
197.00 |
203.00 |
6.00 |
0.59 |
|
|
|
|
205.50 |
211.50 |
6.00 |
5.89 |
|
|
|
|
209.00 |
210.50 |
1.50 |
14.57 |
|
|
|
|
266.50 |
267.00 |
0.50 |
0.07 |
|
|
|
|
275.00 |
281.00 |
6.00 |
0.08 |
|
|
|
|
285.50 |
287.00 |
1.50 |
0.09 |
|
|
|
|
295.00 |
296.50 |
1.50 |
0.06 |
|
|
|
|
300.00 |
309.50 |
9.50 |
0.13 |
|
|
|
|
333.00 |
333.50 |
0.50 |
0.15 |
Composite Parameters
- Minimum thickness: 0.50m
- Grade Cut-off: 0.05 U3O8 (wt%)
- Maximum Internal Dilution: 2.00m
Line 750E:
- Drillhole PLS13-109 was collared as a vertical hole and was
completed at a depth of 401.0m. The collar is located 15m grid west
of PLS13-107. A total of 16 discrete mineralized intervals grading
>0.05% U3O8 and ranging in width from 0.5m to 17.5m and
separated by unmineralized intervals ranging from 2.5m to 55.0m
wide, were intersected over a 225.5m span (108.0m - 333.5m) (see
Table 2). The strongest mineralized interval returned a value of
4.22% U3O8 over 8.0m (108.0m - 116.0m) including a higher grade
interval returning 11.1% U3O8 over 3.0m (108.0m - 111.0m) and a
second interval of 5.89% U3O8 over 6.0m (205.5m - 211.5m) including
a higher grade interval returning 14.57% U3O8 over 1.5m (209.0m -
210.5m).
Line 765E:
- Drillhole PLS13-105 was collared as a vertical hole and was
completed at a depth of 419.0m. The collar is located 10m grid
south of PLS13-107. Hole deviation migrated grid east thus causing
the interception of mineralization up to 15m grid east off section
line. A total of 15 discrete mineralized intervals grading
>0.05% U3O8 and ranging in width from 0.5m to 9.5m and separated
by unmineralized intervals ranging from 2.0m to 62.0m wide, were
intersected over a 223.5m span (107.0m - 330.5m) (see Table
2).
- Drillhole PLS13-107 was collared as a vertical hole and was
completed at a depth of 402.0m. The collar is located 15m grid west
of PLS13-080. A total of 10 discrete mineralized intervals grading
>0.05% U3O8 and ranging in width from 0.5m to 29.0m and
separated by unmineralized intervals ranging from 4.0m to 44.0m
wide, were intersected over a 172.0m span (137.5m - 309.5m) (see
Table 2).
Line 810E:
- Drillhole PLS13-108 was collared as a vertical hole and was
completed at a depth of 392.0m. The collar is located 10m grid
north of PLS13-101. A total of 18 discrete mineralized intervals
grading >0.05% U3O8 and ranging in width from 0.5m to 19.5m and
separated by unmineralized intervals ranging from 2.5m to 35.5m
wide, were intersected over a 195.0m span (81.0m - 276.0m) (see
Table 2). The strongest mineralized interval returned a value of
0.99% U3O8 over 19.5m (152.5m - 172.0m) and a second interval of
1.33% U3O8 over 11.0m (184.5m - 195.5m) including a higher grade
interval returning 6.52% U3O8 over 1.5m (188.5m - 190.0m).
R600W Zone
The R600W zone discovery was the result of follow-up by drilling
of a radon in sediment anomaly identified during the summer
program. The radon anomaly is located between 540W and 630W and may
be associated with inferred north-south cross cutting structures.
This anomaly lies along an ENE trend, parallel and just north of
the PL-3B EM conductor. The R600W zone presently has a defined
strike length of 30m (line 615W to line 585W) and a lateral grid
north-south width of up to approximately 20m, as defined by 5
holes.
Table 3
| Composited Mineralized Intervals (Down-hole
measurements) |
|
Zone |
Hole ID |
Grid Line |
From (m) |
To (m) |
Interval (m) |
U3O8 (wt%) |
|
R600W |
PLS13-116 |
600W |
No significant mineralization |
|
|
PLS13-118 |
600W |
174.50 |
177.50 |
3.00 |
0.06 |
|
|
|
|
182.50 |
183.00 |
0.50 |
0.12 |
|
|
|
|
186.50 |
187.50 |
1.00 |
0.08 |
|
|
|
|
192.00 |
198.50 |
6.50 |
0.34 |
|
|
PLS13-121 |
600W |
98.70 |
110.50 |
11.80 |
0.20 |
|
|
|
|
141.00 |
144.00 |
3.00 |
0.05 |
|
|
|
|
150.00 |
150.50 |
0.50 |
0.06 |
|
|
|
|
195.50 |
196.00 |
0.50 |
0.13 |
|
|
PLS13-122 |
585W |
101.50 |
103.50 |
2.00 |
0.06 |
|
|
|
|
108.00 |
108.50 |
0.50 |
0.06 |
|
|
|
|
158.50 |
159.00 |
0.50 |
0.15 |
|
|
PLS13-123 |
585W |
98.00 |
114.00 |
16.00 |
0.08 |
|
|
|
|
132.50 |
139.50 |
7.00 |
0.10 |
|
|
|
|
142.50 |
145.00 |
2.50 |
0.10 |
|
|
|
|
159.00 |
160.00 |
1.00 |
0.07 |
|
|
PLS13-124 |
615W |
97.50 |
103.50 |
6.00 |
0.29 |
|
|
|
|
107.00 |
109.50 |
2.50 |
0.24 |
|
|
|
|
112.50 |
118.50 |
6.00 |
0.08 |
|
|
|
|
139.00 |
144.00 |
5.00 |
0.08 |
|
|
|
|
147.50 |
150.00 |
2.50 |
0.06 |
|
|
|
|
184.50 |
185.00 |
0.50 |
0.08 |
|
|
|
|
188.00 |
188.50 |
0.50 |
0.05 |
|
|
|
|
198.00 |
208.50 |
10.50 |
0.08 |
Composite Parameters
- Minimum thickness: 0.50m
- Grade Cut-off: 0.05 U3O8 (wt%)
- Maximum Internal Dilution: 2.00m
Line 615W:
- Drillhole PLS13-124 was collared as a vertical hole and was
completed at a depth of 257.0m. The collar is located 15m grid west
of PLS13-121. A total of 8 discrete weakly mineralized intervals
grading >0.05% U3O8 and ranging in width from 0.5m to 10.5m and
separated by unmineralized intervals ranging from 3.0m to 34.5m
wide, were intersected over a 111.0m span (97.5m - 208.5m) (see
Table 3).
Line 600W:
- Drillhole PLS13-116 was collared as a vertical hole and was
completed at a depth of 323.0m. The collar is located 30m grid
north of PLS13-121. This was the first hole in the R600W vicinity
and although not mineralized, did indicate that mineralization
could be present near-by and that the most prospective location was
south of hole PLS13-116. Interpretation suggested that the
stratigraphic sequence encountered was north of the desired
dominantly pelitic sequence, which is associated with high-grade
mineralization further to the east.
- Drillhole PLS13-118 was collared as a vertical hole and was
completed at a depth of 314.0m. The collar is located 10m grid
south of PLS13-121. A total of 4 discrete weakly mineralized
intervals grading >0.05% U3O8 and ranging in width from 0.5m to
6.5m and separated by unmineralized intervals ranging from 3.5m to
5.0m wide, were intersected over a 24.0m span (174.5m - 198.5m)
(see Table 3).
- Drillhole PLS13-121 was collared as a vertical hole and was
completed at a depth of 248.0m. The collar is located approximately
30m grid south of PLS13-116. A total of 4 discrete weakly
mineralized intervals grading >0.05% U3O8 and ranging in width
from 0.5m to 11.8m and separated by unmineralized intervals ranging
from 3.0m to 18.5m wide, were intersected over a 97.3m span (98.7m
- 196.0m) (see Table 3).
Line 585W:
- Drillhole PLS13-122 was collared as a vertical hole and was
completed at a depth of 332.0m. The collar is located 15m grid east
of PLS13-118. A total of 3 discrete weakly mineralized intervals
grading >0.05% U3O8 and ranging in width from 0.5m to 2.0m and
separated by unmineralized intervals ranging from 4.5m to 50.0m
wide, were intersected over a 57.5m span (101.5m - 159.0m) (see
Table 3).
- Drillhole PLS13-123 was collared as a vertical hole and was
completed at a depth of 260.0m. The collar is located 10m grid
north of PLS13-122. A total of 4 discrete weakly mineralized
intervals grading >0.05% U3O8 and ranging in width from 1.0m to
16.0m and separated by unmineralized intervals ranging from 3.0m to
18.5m wide, were intersected over a 62.0m span (98.0m - 160.0m)
(see Table 3).
Regional
Holes
Nine land-based drill holes (PLS13-110, 111, 112, 113, 114, 115,
117, 119 and 120) were drilled west of the R00E zone, along the
same geophysics defined lithologic corridor which hosts the R00E,
R390E, R585E, R780E and R945E zones, between lines 150W and 840W
(see Table 4). The holes were targeted to test the east-northeast
trending corridor in conjunction with interpreted intersecting
cross-faults, in particular where radon anomalies were returned.
All holes with the exception of PLS13-110 intersected varying
amounts of pelitic gneiss, with associated localized development of
weak to moderate clay alteration, overlying a semipelitic gneiss.
In addition, a common feature to most holes was an intersection of
a diabase dyke, ranging in widths from 2.1m to 17.1m wide. Although
no mineralization was encountered, varying degrees of secondary
hydrothermal alteration were present in all holes, thus providing
encouragement for the prospectivity of the western strike extension
of the PL-3B corridor.
Table 4
| Composited Mineralized Intervals (Down-hole
measurements) |
|
Zone |
Hole ID |
Grid Line |
From (m) |
To (m) |
Interval (m) |
U3O8 (wt%) |
|
Regional |
PLS13-110 |
405W |
No significant mineralization |
|
|
PLS13-111 |
405W |
No significant mineralization |
|
|
PLS13-112 |
840W |
No significant mineralization |
|
|
PLS13-113 |
405W |
No significant mineralization |
|
|
PLS13-114 |
705W |
No significant mineralization |
|
|
PLS13-115 |
360W |
No significant mineralization |
|
|
PLS13-117 |
360W |
No significant mineralization |
|
|
PLS13-119 |
195W |
No significant mineralization |
|
|
PLS13-120 |
150W |
No significant mineralization |
|
|
|
|
|
Composite Parameters
- Minimum thickness: 0.50m
- Grade Cut-off: 0.05 U3O8 (wt%)
- Maximum Internal Dilution: 2.00m
A $12M, 90 hole, 30,000m drill program and ground geophysics
surveys continues at PLS. Updated maps and files can be found on
the Company's website at
http://www.fissionuranium.com/projects/patterson-lake-south-sk/.
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 and is headquartered in
Kelowna, British Columbia. Common Shares are listed on the TSX
Venture Exchange under the symbol "FCU" and trade on the OTCQX
marketplace in the U.S. under the symbol "FCUUF."
ON BEHALF OF THE BOARD
Ross McElroy, President and COO
Cautionary Statement: Certain information contained in this
press release constitutes "forward-looking information", within the
meaning of Canadian legislation. Generally, these forward-looking
statements can be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or
"will be taken", "occur", "be achieved" or "has the potential to".
Forward looking statements contained in this press release may
include statements regarding the future operating or financial
performance of Fission and Fission Uranium which involve known and
unknown risks and uncertainties which may not prove to be accurate.
Actual results and outcomes may differ materially from what is
expressed or forecasted in these forward-looking statements. Such
statements are qualified in their entirety by the inherent risks
and uncertainties surrounding future expectations. Among those
factors which could cause actual results to differ materially are
the following: market conditions and other risk factors listed from
time to time in our reports filed with Canadian securities
regulators on SEDAR at www.sedar.com. The forward-looking
statements included in this press release are made as of the date
of this press release and the Company and Fission Uranium disclaim
any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as expressly required by applicable securities
legislation.
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
Fission Uranium Corp.Rich MatthewsInvestor RelationsTF:
877-868-8140rich@fissionuranium.comwww.fissionuranium.com
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