Fission Hits 16.80m Total Composite "Off-scale" in 82.5m Total Composite Mineralization (line 855E) Plus Six More With "Off-s...
April 07 2014 - 2:00AM
Marketwired Canada
FISSION URANIUM CORP. (TSX VENTURE:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) ("Fission"
or "the Company") is pleased to announce results from seven new holes at its PLS
property in Saskatchewan's Athabasca Basin, Canada. Of particular note is hole
PLS14-201 (line 855E). With mineralization starting at the shallow depth of 84m,
the hole returned 16.80m Total Composite "Off-scale" (greater than 9999 cps) in
82.5m of total composite mineralization. All seven holes encountered wide
intervals and "off-scale" mineralization.
Drilling Highlights include:
Hole PLS14-201 (line 780E)
-- 82.5m total composite mineralization (between 84.0m - 340.5m) including:
-- 16.8m total composite off-scale (greater than 9999 cps)
radioactivity
Hole PLS14-200 (line 675E)
-- 115.5m total composite mineralization (between 70.0m - 229.0m)
including:
-- 16.2m total composite off-scale (greater than 9999 cps)
radioactivity
Hole PLS14-197 (line 675E)
-- 60.5m total composite mineralization (between 86.5m - 199.0m) including:
-- 13.6m total composite off-scale (greater than 9999 cps)
radioactivity
Hole PLS14-198 (line 705E)
-- 63.0m total composite mineralization (between 58.5m - 248.5m) including:
-- 9.4m total composite off-scale (greater than 9999 cps) radioactivity
Ross McElroy, President, COO, and Chief Geologist for Fission, commented,
"This is an extremely solid set of holes with substantial
mineralization as well as off-scale radioactivity returned in every
single hole. These results are another strong step forward in the
rapid growth of the PLS discovery."
----------------------------------------------------------------------------
(i) Hand-held
Scintillometer Results On
Mineralized Drillcore Base-
(greater than 300 cps / ment Total
greater than 0.5M Sand- Uncon- Drill-
Collar minimum) stone formity hole
----------------------------------------------------------------------------
From
CPS -
Hole Grid From To Width Peak To Depth Depth
ID Zone Line Az Dip (m) (m) (m) Range (m) (m) (m)
----------------------------------------------------------------------------
less
than
PLS14- 300 -
194 R780E 1005E 358 -82.4 149.5 151.5 2.0 350 NA 62.8 386.0
less
than
300 -
greater
than
186.5 191.5 5.0 9999
209.0 209.5 0.5 450
less
than
300 -
greater
than
247.0 262.5 15.5 9999
less
than
300 -
303.5 313.0 9.5 1800
315.5 316.0 0.5 430
340 -
335.5 336.5 1.0 420
----------------------------------------------------------------------------
PLS14- 340 -
195 R780E 885E 325 -83 90.0 94.0 4.0 2200 NA 58.3 419.0
107.0 107.5 0.5 370
less
than
300 -
117.5 120.5 3.0 460
less
than
300 -
124.0 125.5 1.5 410
less
than
300 -
129.0 131.5 2.5 450
less
than
300 -
138.0 148.0 10.0 680
less
than
300 -
150.5 157.0 6.5 510
less
than
300 -
159.5 164.0 4.5 640
169.0 169.5 0.5 350
330 -
183.0 184.0 1.0 530
320 -
186.5 187.5 1.0 450
less
than
300 -
191.0 193.5 2.5 460
less
than
300 -
201.0 207.5 6.5 2200
less
than
300 -
210.5 215.5 5.0 2100
less
than
300 -
235.5 235.5 0.0 350
less
than
300 -
greater
than
243.5 248.5 5.0 9999
less
than
300 -
262.5 267.5 5.0 3300
less
than
300 -
270.5 277.5 7.0 4300
less
than
300 -
282.5 287.5 5.0 760
less
than
300 -
291.5 303.0 11.5 2500
345.5 346.0 0.5 590
340 -
354.5 355.5 1.0 360
----------------------------------------------------------------------------
less
than
300 -
greater 58.1
PLS14- than -
197 R780E 675E 333 -82.8 86.5 96.0 9.5 9999 58.7 58.7 284.0
300 -
greater
than
102.0 128.5 26.5 9999
350 -
135.0 137.0 2.0 560
less
than
300 -
greater
than
151.0 154.5 3.5 9999
less
than
300 -
greater
than
157.0 170.0 13.0 9999
340 -
greater
than
175.0 178.5 3.5 9999
182.5 183.0 0.5 1500
less
than
300 -
197.0 199.0 2.0 890
----------------------------------------------------------------------------
PLS14- 320 -
198 R780E 705E 218 -90 58.5 60.0 1.5 580 NA 58.1 398.0
76.5 77.0 0.5 1700
780 -
83.5 85.5 2.0 2400
less
than
300 -
greater
than
95.0 135.0 40.0 9999
less
than
300 -
142.0 149.5 7.5 2700
1400 -
153.0 156.0 3.0 6600
less
than
300 -
163.0 166.5 3.5 650
less
than
300 -
173.5 177.0 3.5 4300
430 -
239.5 240.5 1.0 610
248.0 248.5 0.5 310
----------------------------------------------------------------------------
less
than
PLS14- 300 -
199 R780E 1080E 207.0 225.0 18.0 2200 NA 61.0 486.0
less
than
300 -
greater
than
233.5 251.5 18.0 9999
320 -
255.5 257.5 2.0 610
less
than
300 -
267.0 269.5 2.5 680
less
than
300 -
282.0 291.5 9.5 6200
320 -
295.0 300.5 5.5 1600
309.5 310.0 0.5 340
318.5 319.0 0.5 360
less
than
300 -
333.5 338.0 4.5 1000
300 -
380.0 383.5 3.5 1600
386.5 387.0 0.5 420
406.5 407.0 0.5 320
330 -
413.5 415.0 1.5 1100
----------------------------------------------------------------------------
PLS14- 350 -
200 R780E 675E 227 -90 70.0 71.0 1.0 390 NA 57.8 389.0
410 -
74.0 78.5 4.5 1800
310 -
84.0 88.5 4.5 640
less
than
300 -
101.5 105.0 3.5 580
less
than
300 -
greater
than
107.5 167.0 59.5 9999
less
than
300 -
170.0 173.0 3.0 1400
less
than
300 -
176.0 184.5 8.5 1100
less
than
300 -
191.5 194.5 3.0 820
less
than
300 -
197.0 217.0 20.0 8800
less
than
300 -
greater
than
221.0 229.0 8.0 9999
----------------------------------------------------------------------------
PLS14-
201 R780E 855E 327 -83.8 84.0 84.5 0.5 310
101.0 101.5 0.5 500
310 -
115.5 117.0 1.5 480
340 -
120.5 121.5 1.0 380
less
than
300 -
greater
than
125.0 179.5 54.5 9999
750 -
189.5 191.0 1.5 1600
310 -
203.5 204.5 1.0 350
580 -
greater
than
209.0 211.5 2.5 9999
less
than
300 -
214.5 222.5 8.0 2300
less
than
300 -
264.5 266.5 2.0 2000
less
than
300 -
272.5 274.5 2.0 410
less
than
300 -
281.0 285.5 4.5 1200
289.0 289.5 0.5 370
580 -
294.0 295.5 1.5 800
337.0 337.5 0.5 360
340.0 340.5 0.5 320
----------------------------------------------------------------------------
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.
R600W Zone (line 615W - 585W)
The R600W zone is located approximately 510m grid west of the westernmost
defined edge of the R00E Zone. Presently defined by 5 holes, the R600W zone has
a strike length (grid east-west) of 30m and a lateral width of 30m.
R00E Zone (line 075W - line 090E):
The R00E zone is the discovery zone at PLS. Presently defined by 31 holes, the
R00E zone has a strike length (grid east-west) of approximately 165m and a
lateral width (grid north-south) of up to approximately 45m (line 030W).
R780E Zone (line 225E - line 1080E):
The R780E zone is located approximately 135m grid east of the easternmost
defined edge of the R00E zone. Presently defined by 114 holes, the R780E zone
has a strike length (grid east-west) of approximately 855m and a lateral width
(grid north-south) of up to approximately 95m (line 780E).
R1155E Zone (line 1155E):
The R1155E zone is located approximately 75m grid east of the easternmost
defined edge of the R780E zone. Presently the R1155E zone is defined by 3
mineralized holes, the strongest being the most recent hole, PLS14-190.
R1620E Zone (line 1620E):
The R1620E zone is located approximately 465m grid east of the easternmost
defined edge of the R780E zone and is associated with the PL-3C conductor. As
defined by ground Small Loop Time Domain Electromagnetic (SMLTDEM) geophysics
survey, there is a approx. 250m gap between the eastern terminous of the PL-3B
conductor on line 1200E and the western terminous of the PL-3C conductor on line
1450E. Presently the R1620E zone is defined by a single mineralized hole,
PLS14-196. PLN14-196 targeted conductor PL-3C, the suspected 1.3km-long strike
extension of the mineralized PL-3B conductor, at an interpreted NNE-SSW trending
cross-fault located near its western end. This target was upgraded due to the
presence of a coincident subtle single point radon in water anomaly.
Fission has completed 70 holes of the planned Winter 2014 delineation drill hole
program. Approximately 85% of the holes are designed to assist in delineation of
the main mineralized trend between lines 015E and 1080E utilizing 4 diamond
drill rigs. A 5th diamond drill rig is being utilized to drill exploration holes
outside of the main mineralized trend.
A 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://fissionuranium.mwnewsroom.com/News/.
Natural gamma radiation in drill core that is reported in this news release was
measured in counts per second (cps) using a hand held Exploranium GR-110G total
count gamma-ray scintillometer. The reader is cautioned that scintillometer
readings are not directly or uniformly related to uranium grades of the rock
sample measured, and should be used only as a preliminary indication of the
presence of radioactive materials. The degree of radioactivity within the
mineralized intervals is highly variable and associated with visible pitchblende
mineralization. All intersections are down-hole, core interval measurements and
true thickness is yet to be determined.
All holes are planned to be radiometrically surveyed using a Mount Sopris
2GHF-1000 Triple Gamma probe, which allows for more accurate measurements in
high grade mineralized zones. The Triple Gamma probe is preferred in zones of
high grade mineralization.
Split core samples from the mineralized section of core will be taken
continuously through the mineralized intervals and submitted to SRC
Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of
Saskatoon for analysis, which includes U3O8 (wt %) and fire assay for gold. All
samples sent for analysis will include a 63 element ICP-OES, uranium by
fluorimetry and boron. Assay results will be released when received.
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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