Fission drills the first holes of the 90 holes large drill program on PLS
Large-scale drilling with 20 $ million budget for 2014 - expansion of zones and determination of new targets
FISSION URANIUM CORP. ("Fission" or "the Company") is pleased to announce the start of the 90 hole winter drilling and geophysical program on the PLS property in Saskatchewan's Athabasca Basin. Drilling focus on the high grade uranium discovery will be to demarcate seven zones at shallow depths that have been identified to date while addressing the gaps between the zones. In addition, 15-20% of the drilling is aimed at testing new, particularly priority targets identified by geophysical and radon gas surveys. The winter program will cost $ 12 million and is part of the total $ 20 million budget planned for 2014 as the PLS exploration budget.
The ongoing drill program is the most aggressive and largest program the company has ever carried out. The previous two drill programs had a hit rate above 86% with various high-grade results, which increased PLS from a single discovery to a seven-zone trend with a strike length of 1,78 Km. All seven zones are still open in all directions.
Interview with Ross McElroy:
http://www.commodity-tv.net/c/mid,3159,Companies_und_Projects/?v=107525
Ross McElroy, President, COO and Chief Geologist of Fission said:
“The tremendous success of the PLS drilling program not only provided us with seven shallow mineralized zones, but also a solid understanding of the project geology. While growing and joining the zones is our primary objective, the radon survey and geophysics also revealed a number of promising targets that are now being tested. "
The most important technical information:
30.000 m comprehensive drill program with 5 diamond drills. 80-85% is used to delineate: several closely spaced holes test outward mineralization of the known sites to increase the previously identified five high-grade zones (R00E, R390E, R585E, R780E and R945E) and to fill in the gaps between them.
15-20% of the drill program is dedicated to the exploration and testing of electromagnetic (EM) veins. These vein targets are prioritized according to the results of soil geophysics and radon investigations (see company announcement of January 13, 2014).
The drill is also testing an eastward extension of the high grade mineralization of the R945E Zone, with respect to the abnormally mineralized R1155E, where mineralization to the east is open.
The area remains extremely prospective for many kilometers in the immediate vicinity of the known mineralization along the strike in both directions: west-south-west and east-north-east.
Patterson Lake South terrain
The 31.039 Ha large PLS project is to 100% owned by the Fission Uranium Corp. Fission is the operator. PLS is accessible by road and has year-round main access from Highway 955, which runs north of the former Cluff Lake Mine and runs through the nearby UEX-Areva Shea Creek discovery approximately 50 Km North which is currently undergoing active exploration and development. Updated maps and scintillator tables for the R390 Zone and R780E Zone are available on the Company's website: http://fissionuranium.com/project/pls/maps/dp/
The technical information in this news release has been prepared in accordance with Canadian National Instrument 43-101 rules and has been prepared on behalf of the Company by Ross McElroy, P.Geol. President and COO of Fission Uranium Corp. checked. He is a Qualified Person.
About Fission Uranium Corp.
Fission Uranium Corp. is a Canadian resource exploration company specializing in the strategic acquisition, exploration and development of uranium deposits, based in Kelowna, British Columbia. The common stock is listed on the TSX Venture Exchange under the symbol "FCU". In addition, the shares are traded on the OTCQX in the US under the symbol "FCUUF".
On behalf of the Board
"Ross McElroy"
Ross McElroy, President and COO
FOR FURTHER INFORMATION, PLEASE CONTACT:
Fission Uranium Corp.
Rich Matthews
Investor Relations
TF: 877-868-8140
ppgad@pucrs.br
www.fissionuranium.com
and for the German-speaking area:
Swiss Resource Capital AG
Jochen Staiger
ppgad@pucrs.br
www.resource-capital.ch
Risk Warning: Certain information in this press release contains "forward-looking information" in accordance with Canadian law. Generally speaking, these forward-looking statements can be identified by terms such as “planned”, “expected” or “not expected”, “is expected”, “budget”, “planned”, “estimated”, “forecast”, “intended” , "Assumed" or ". Not expected", or "believed", or variations of these words and phrases. Certain actions or events such as “may”, “could”, “would”, “maybe” or “possibly”, “occur”, “can be achieved” or “has the potential for” can also occur. Forward looking statements in this press release contain statements relating to the demerger and listing of Fission Uranium and future operations. Or the financial performance of Fission and Fission Uranium relate to known and unknown risks and uncertainties. Current results and statements could differ materially from the expected and predicted statements made in the forward-looking statements. Such statements result in their entirety from inherent risks and uncertainties that are caused by future expectations. Events that can have a significant impact on current results are: market conditions and other risk factors that may appear in our documented reports by the Canadian Exchange Commission. You can find these under SEDAR at www.sedar.com. The forward-looking statements in this press release are as of the date of the press release, and the Company and Fission Uranium assume no responsibility or liability for any change in the forward-looking statements or any new occurrences that may arise, except as disclosed in accordance with the rules of Canadian stock exchange law given. Only the original English version of this press release applies.
Source: IRW-Press.com.
