Fission Announces Multiple High-Grade Assays
April 14 2014 - 2:00AM
Marketwired Canada
FISSION URANIUM CORP. (TSX VENTURE:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) ("Fission"
or "the Company") is pleased to announce assay results from twelve holes at its
Patterson Lake South (PLS) property in Saskatchewan's Athabasca Basin, Canada.
All twelve holes are drilled within the R780E zone and returned wide intervals
of mineralization, with nine of the holes returning high-grade assays. Of
particular note is hole PLS14-132 which intersected multiple zones of
mineralization including intervals such as 8.48% U3O8 over 3.5m in 4.03% U3O8
over 8.0m.
Ross McElroy, President, COO, and Chief Geologist for Fission, commented,
"This is a strong set of assays with wide intervals and high grades
from holes drilled early in winter program. They contribute
significantly to the confirmed mineralization at PLS and provide us
with additional data to help direct future drill targeting."
Assay Highlights
PLS14-132 (Line 810E)
- 46.0m (134.5m to 180.5m) @ 0.72% U3O8, including:
10.5m (169.0m to 179.5m) @ 2.41% U3O8
- 5.5m (216.0m to 221.5m) @ 1.54% U3O8, including:
3.0m (217.5m to 220.5m) @ 2.74% U3O8
- 8.0m (226.5m to 234.5m) @ 4.03% U3O8, including:
3.5m (229.5m to 233.0m) @ 8.48% U3O8
PLS14-136 (Line 600E)
- 41.0m (119.0m to 160.0m) @ 0.92% U3O8, including:
8m (133.0m to 141.0m) @ 2.59% U3O8 and
2.5m (145.0m to 147.5m) @ 3.69% U3O8
PLS14-126 (Line 780E)
- 8.5m (152.5m to 161.0m) @ 1.3% U3O8, including:
1m (157.0m to 158.0m) @ 4.44% U3O8
- 5.5m (178.0m to 183.5m) @ 2.41% U3O8, including:
2m (178.0m to 180.0m) @ 4.66% U3O8
Composited % U3O8 mineralized intervals are summarized in Table 1 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.
PLS Mineralized Trend Summary
Uranium mineralization at PLS has been traced by core drilling over 2.24km of
east-west strike length in five separate mineralized "zones" from line 615W
(PLS13-124) to line 1620E (PLS14-196). From west to east, these zones are;
R600W, R00E, R780E, R1155E and R1620E. The former R390E, R585 and R945E zones
have been merged into the R780E zone by successful winter drilling.
Mineralization remains open along strike both to the western and eastern
extents. Mineralization is both located within and associated with a
metasedimentary lithologic corridor, bounded to the south by the PL-3B basement
Electro-Magnetic (EM) Conductor.
Table 1
Composited Mineralized Intervals (Down-hole measurements)
----------------------------------------------------------------------------
From To Interval U3O8
Zone Hole ID Grid Line (m) (m) (m) (wt%)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
R780E PLS14-125 570E 70.50 71.00 0.50 0.08
89.00 93.00 4.00 0.08
115.50 116.00 0.50 0.11
119.50 176.00 56.50 0.46
130.50 136.50 6.00 1.91
163.00 165.50 2.50 1.71
183.50 184.00 0.50 0.07
191.50 195.00 3.50 0.06
197.50 198.00 0.50 0.06
200.50 201.50 1.00 0.07
225.50 237.50 12.00 0.21
---------------------------------------------------------------------
PLS14-126 780E 141.50 146.00 4.50 0.09
152.50 161.00 8.50 1.30
157.00 158.00 1.00 4.44
164.00 169.50 5.50 0.52
178.00 183.50 5.50 2.41
178.00 180.00 2.00 4.66
189.00 190.50 1.50 0.09
218.50 219.00 0.50 0.13
230.00 235.00 5.00 0.96
243.00 243.50 0.50 0.07
289.50 296.00 6.50 0.29
298.50 300.00 1.50 0.46
372.50 374.00 1.50 0.10
---------------------------------------------------------------------
PLS14-127 825E 65.00 72.50 7.50 0.05
79.50 80.00 0.50 0.09
99.50 120.00 20.50 0.16
124.50 130.00 5.50 0.06
132.50 133.50 1.00 0.08
141.50 142.50 1.00 0.11
146.50 161.00 14.50 0.27
166.00 168.00 2.00 1.39
170.50 176.50 6.00 0.08
186.00 188.50 2.50 1.06
197.50 200.00 2.50 1.17
212.00 213.50 1.50 0.93
298.50 299.00 0.50 0.06
---------------------------------------------------------------------
PLS14-128 945E 108.50 113.50 5.00 0.06
134.50 135.00 0.50 0.06
140.00 142.50 2.50 0.08
145.00 162.00 17.00 0.19
167.50 173.50 6.00 0.46
177.00 181.50 4.50 0.06
216.50 220.50 4.00 6.74
218.00 220.00 2.00 13.04
244.50 245.00 0.50 0.07
426.00 426.50 0.50 0.06
435.50 436.00 0.50 0.05
---------------------------------------------------------------------
PLS14-130 345E 67.00 81.00 14.00 0.23
84.50 101.50 17.00 0.47
93.00 96.50 3.50 1.57
108.00 125.00 17.00 0.27
131.00 131.50 0.50 0.07
142.50 146.50 4.00 3.00
142.50 143.50 1.00 11.10
157.00 157.50 0.50 0.07
162.00 164.50 2.50 0.07
183.50 187.00 3.50 0.09
195.50 197.50 2.00 0.38
---------------------------------------------------------------------
PLS14-131 780E 145.00 145.50 0.50 0.09
168.50 191.00 22.50 0.22
195.00 196.50 1.50 0.15
199.50 230.00 30.50 0.30
207.00 210.50 3.50 0.93
234.50 256.00 21.50 0.34
260.50 262.50 2.00 1.01
265.50 266.00 0.50 0.35
274.50 275.00 0.50 0.31
310.50 311.00 0.50 0.06
321.00 324.00 3.00 0.08
364.00 364.50 0.50 0.18
373.50 375.00 1.50 0.07
377.50 378.50 1.00 0.20
383.50 384.00 0.50 0.26
389.50 396.00 6.50 0.08
419.50 420.00 0.50 0.06
---------------------------------------------------------------------
PLS14-132 810E 72.00 84.50 12.50 0.40
77.50 78.50 1.00 3.28
91.50 124.00 32.50 0.09
134.50 180.50 46.00 0.72
169.00 179.50 10.50 2.41
184.50 188.00 3.50 1.42
216.00 221.50 5.50 1.54
217.50 220.50 3.00 2.74
226.50 234.50 8.00 4.03
229.50 233.00 3.50 8.48
239.00 242.00 3.00 0.24
259.00 260.00 1.00 0.30
---------------------------------------------------------------------
PLS14-133 315E 96.00 101.00 5.00 0.06
117.00 122.00 5.00 0.11
130.00 141.50 11.50 0.08
145.50 146.00 0.50 1.40
162.00 164.00 2.00 1.00
167.00 180.50 13.50 0.90
175.50 176.50 1.00 8.37
184.00 205.50 21.50 0.48
195.50 200.50 5.00 1.03
239.00 240.50 1.50 0.37
317.00 317.50 0.50 0.18
---------------------------------------------------------------------
PLS14-134 465E 144.00 152.00 8.00 0.30
154.50 155.50 1.00 0.08
158.00 162.50 4.50 0.41
167.00 168.50 1.50 0.07
173.00 177.50 4.50 0.08
182.00 186.50 4.50 0.27
---------------------------------------------------------------------
PLS14-135 960E 117.00 121.00 4.00 0.07
134.50 175.00 40.50 0.16
182.00 182.50 0.50 0.08
188.00 190.50 2.50 1.29
231.50 232.00 0.50 0.15
235.50 241.50 6.00 0.07
265.50 266.00 0.50 0.06
283.50 286.50 3.00 0.38
---------------------------------------------------------------------
PLS14-136 600E 119.00 160.00 41.00 0.92
133.00 141.00 8.00 2.59
145.00 147.50 2.50 3.69
208.50 209.50 1.00 0.17
220.00 221.00 1.00 0.16
---------------------------------------------------------------------
PLS14-137 390E 121.00 121.50 0.50 0.06
194.50 195.50 1.00 0.06
----------------------------------------------------------------------------
Composite Parameters
1. Minimum Thickness: 0.50m
2. Grade Cut-Off: 0.05 U3O8 (wt%)
3. Maximum Internal Dilution: 2.00m
An approximate 30,000m drill program and ground geophysics and radon in water
and sediment surveys continues at PLS. Updated maps and files can be found on
the Company's website at http://www.fissionuranium.com/project/pls/overview/.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Fission Uranium Corp.
Rich Matthews
Investor Relations
TF: 877-868-8140
rich@fissionuranium.com
www.fissionuranium.com
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