Fission JV hits 43,0 m @ 1,93% U3O8 including 5,0 m @ 9,91% U3O8 on zone R390E
Powerful sections and high degrees in all five holes drilled
FISSION URANIUM CORP. ("Fission" or "the Company") as operator and its joint venture partner Alpha Minerals Inc. are pleased to announce additional results from five holes in the R390E Zone on their Patterson Lake South (PLS) property in Saskatchewan. Holes PLS13-078, PLS13-081, PLS13-085, PLS13-086 and PLS13-87A all returned thick mineralized intercepts at shallow depth and indicate heavy growth in this zone. Particularly noteworthy is the hole PLS13-086 which had 43,0 m @ 1,93% U3O8 including 5,0 m @ 9,91% U3O8.
Drilling highlights were:
PLS13-086 (line 330E)
• 43.0m (81,5 m - 124,5 m) @ 1,93% U3O8 including:
• 5,0 m (101,0 m - 106,0 m) @ 9,91% U3O8
PLS13-085 (line 360E)
• 22,0 m (82,5 m - 104,5 m) @ 0,93% U3O8 including:
• 4,0 m (85,0 m - 89,0 m) @ 4,07% U3O8
PLS13-078 (line 435E)
• 30,0 m (85,0 m - 115,0 m) @ 0,66% U3O8 including:
• 1,5 m (96,5 m - 98,0 m) @ 7,62% U3O8
Ross McElroy, President, COO and Chief Geologist of Fission said:
"The R390E zone continues to show beautiful growth as a high grade zone. All five of the last samples confirmed the power of the sections and hole PLS13-086 as a real highlight. "
The percent composite mineralization as U3O8 of the mineralized intercepts is summarized in Table 1. The samples of the cores were cut in half. Where possible, these were brought downhole to a standard size of 0,5 m. One half of the samples were sent to the laboratory for analysis, the other half remains on the site as a reference. All depth measurements reported including the samples and section widths are downhole. The core section measurements and true widths still need to be determined.
Table 1
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Kompositparameter
1. Minimum power: 0,50 m
2. Degree cut-off: 0,05 U3O8 (wt%)
3. Maximum internal dilution: 2,00 m
Hole PLS13-078 (line 435E) was set as a vertical hole and drilled to a depth of 224,0 m. An 30,0 m wide mineralized zone (85,0 m to 115,0 m) yielded composite sections of 0,66% U3O8 over 30,0 m. A higher interval yielded 7,62% U3O8 over 1,5 m (96,5 m - 98,0 m). A second mineralized interval yielded 0,12% U3O8 over 7,5 m. The mineralization on PLS13-078 looks like it is going upwards about 17 m from hole PLS13-073.
Drill hole PLS13-081 (line 405E) was set as a vertical hole and drilled down to 230,0 m. The collar is about 10 m north in the grid of PLS13-064 (10,5 m @ 0,43% U3O8.) An upper zone showed values of 0,19% U3O8 over 18,5 m (106,0 m - 124,5 m) and 0,06% U3O8 over 2,5 m.
Drill hole PLS13-085 (line 330E) was set as a vertical hole and terminated at a depth of 224,0 m. Multiple sections intersected widths from 0,5 m to 22,0 m over a range of 120,0 m from 58,5 m to 178,5 m (see table 1). The strongest interval yielded values of 0,93% U3O8 over 22,0 m (82,5 m - 104,5 m) including a higher grade section with 4,07% U3O8 over 4,0 m (85,0 m - 89,0 m).
Hole PLS13-086 (line 360E) was drilled as a vertical hole and drilled to a depth of 263,0 m. Multiple sections intersected widths from 0,5 m to 43,0 m over a range of 98,5 m from 75,5 m to 174,0 m (see table 1). The strongest sections yielded values of 1,93% U3O8 over 43,0 m (81,5 m - 124,5 m) including higher grade sections with 9,91% U3O8 over 5,0 m (101,0 m - 106,0 m).
Hole PLS13-087A (line 315E) was set as a vertical hole and terminated at a depth of 227,0 m. Multiple sections intersected widths from 0,5 m to 16,5 m via 67,5 m range from 47,5 m to 113,0 m (see table 1). The strongest sections showed values of 0,40% U3O8 over 8,5 m (63,5 m - 72,0 m).
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.
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(Source: IRW-Press.com.)
