FISSION URANIUM CORP. ("Fission" or "the Company") the operator and its joint venture partner Alpha Minerals Inc. are pleased to announce the discovery of a sixth mineralization zone (R600W). This is the result of two wells drilled on line 600W on the Company's PLS property in the Athabasca Basin, Saskatchewan. Particularly noteworthy is the hole PLS13-118, which intersected 21,5 meters mixed mineralization, 530 meters west of the original discovery zone R00E. The new zone is considered a substantial success and should be pursued with high priority. Further drilling, which is part of 9,2's ongoing 49 drilling and 14.700 Meter drilling and geophysics program, will therefore focus on this zone.
Highlights of the drilling include:
• 6. mineralized zone; detects 525 meters west of Zone R00E
• PLS13-118 encountered 21,5 Meter mineralization in a section of 80,5 meters (from 174,5 - 255,0m), including moderate mineralization (Zone R600W)
• Zone R600W is on a 1.755 meter long trend, with all five zones of high mineralization to the east (R00E, R390E, R585, R780, R945E) and with mineralization on line 1155E
Drill holes PLS13-116 and PLS13-118 were drilled on 600W line and targeted a light radon anomaly identified north of the PL-3B EM between lines 540W to 630W and associated with inferred north-south intersecting structures could (see the press release of 7, October 2013).
Ross McElroy, President, COO and Chief Geologist at Fission, commented:
"The discovery of this new zone is a huge sign of progress on PLS. 530 Meter is a particularly large distance and a hit of this size not only demonstrates the continued success of Fission's exploration method, but also confirms the continued growth of the project's potential. It is also important to note that R600W is widely open to further exploration activities. Our team wants to pursue this with vigor. "
Zone R600W:
The discovery of the R600W Zone resulted from drilling work on a radon anomaly in sediment discovered during the summer program. The radon anomaly is located between 540W and 630W and could be related to inferred, north-to-south, transverse structures. This anomaly is along an east-northeast trend, parallel to and just north of the conductor PL-3B EM.
Hole PLS13-116 (line 600W) was slanted at an azimuth angle of 336 and a slope of -74 and finished to a depth of 323,0 meters. A narrow interval of weakly anomalous radioactivity was detected between 143,0 and 144,0 meters, within a chlorite-altered half-pelitic gneiss. Upcoming rock was discovered 106,4 meters below the surface. The lithology of the upcoming rock consists mainly of half pelitic gneiss. The interpretation indicates that the stratified stratum lies north of the desired, mainly pelitic stratum, which is located further to the east in the context of high grade mineralization.
Get PLS13-118 (line 600W) was set as a vertical hole and finished to a depth of 314,0 meters. The hole was drilled from the same location as PLS13-116. Upcoming rock was encountered at a depth of 97,2 meters, significantly higher than in PLS13-116 (106,4m), possibly suggesting a structural fault between the holes. The mineralization encountered in PLS13-118 is located approximately 50 meters south of the PLS13-116 drilling lane. A mixed mineralization of a total of 21,5 meters in five discrete sections with slightly to moderately varying radioactive mineralization was encountered between 174,5 and 255,0 drill meters, at 0,5 to 9,0 section lengths. The upper part of the layer sequence (97,2 to 154,5m) consists of quartzitic gneiss. From 154,5 to 297,9 meters, a pelitic gneiss dominates, passing between 297,9 and 314,0 meters into a semi-pelitic gneiss (borehole end). A Diabas-Eruptivgang consists of 287,3 to 294,5 meters. Local, narrow intervals (2,1 to 3,6m mighty) of moderately sloping grist and cataclasite are found between 166,6 and 265,9 meters. Moderate Lehterteration (occasionally hematite) can be found from 154 to 212.
To view the full press release please follow the link:
http://www.irw-press.com/dokumente/Fission_051113_Deutsch.pdf
The companies also correct a minor error from the 29 news release. October 2013 by changing the high-grade section from hole PLS13-079 from 5,5 meter (91,5m - 97.0m) to 5,0 meter (92,0m - 97,0m). The content of 19,51% U3O8 for this section remains the same.
The naturally occurring core core gamma radiation reported in this news release was measured in counts per second (cps) using a portable Exploranium GR-110G gamma ray scintillometer. Readers are cautioned that scintillometer results should not directly or consistently match the uranium grades of the investigated rock and should only be considered as a preliminary indication of the occurrence of radioactive material. The radioactivity in the mineralized sections varies greatly and is related to uranium fever. All intervals are core interval measurements in the borehole and true thickness still needs to be determined.
All holes are to be radiometrically probed with a Mount Sopris 2GHF-1000 Triple Gamma Probe, which allows more accurate measurements in high grade zones of mineralization. Triple gamma probes are preferably used in zones of high grade mineralization.
Split drill core samples from the mineralized core section are continuously withdrawn through the mineralized intervals and submitted to SRC Geoanalytical Laboratories (a SCC ISO / IEC 17025: 2005 certified facility) in Saskatoon for analysis, which includes U3O8 (wt%) and fire samples on gold. All samples submitted for analysis are subjected to 63 elements-inductively coupled plasma-optical emission spectroscopy (ICP-OES), uranium with fluorimetry, and boron. The analysis results will be published as they arrive.
Patterson Lake South terrain
The 31.039 Ha large PLS project is an 50% / 50% joint venture between Fission Uranium Corp. and Alpha Minerals Inc (AMW). 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 passes 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 R945E Zone are available on the Company's website at: https://www.fissionuranium.com/projects/patterson-lake-south-sk/.
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:
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, 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.
No liability is assumed for the accuracy of the translation!
