Fission Hits 16.18m Total Composite "Off-Scale" in 85.5m Total
Composite Mineralization (Line 540E)
Gap narrows between R390E and R585E Zones
KELOWNA, BRITISH COLUMBIA--(Marketwired - Mar 7, 2014) - FISSION
URANIUM CORP. (TSX-VENTURE:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU)
("Fission" or "the Company") is pleased to announce results from
the latest four holes of the winter program at its PLS property in
Saskatchewan's Athabasca Basin, Canada. All four holes returned
strong, wide intervals of mineralization. Of particular note is
hole PLS14-160 (line 540E) which intersected 16.18m Total Composite
"Off-Scale" in 85.5m Total Composite Mineralization. The winter
program's 100% mineralization hit rate continues.
Holes PLS14-159 (line 345E), PLS14-160 (line 540E), PLS14-161
(line 930E) and PLS14-163 (line 030E) all intersected considerable
mineralization. The location of hole PLS14-160 narrows the gap
between R390E zone and R585E zone to approximately 60m.
Drilling Highlights include:
PLS14-160 (line 540E)
- 85.5m total composite mineralization in a 191.5m section (55.0m
- 246.5m) including:
- 16.18m total composite off-scale (>9999 cps)
radioactivity
PLS14-161 (line 930E)
- 90.0m total composite mineralization in a 175.0m section
(101.5m - 276.5m) including:
- 2.65m total composite off-scale (>9999 cps)
radioactivity
Ross McElroy, President, COO, and Chief Geologist for Fission,
commented,
|
"Another strong set of results and another reduction in the
distance between two of the high-grade zones along our 1.78km
strike length. With five diamond drill rigs now active on the
property, we are very pleased with the continued high quality of
results and rate of progress as we continue to develop this
remarkable discovery." |
|
R00E Zone:
The R00E zone is the discovery zone and presently has a defined
strike length of 165m (line 075W to line 090E) and a lateral grid
north-south width of up to approximately 45m (line 030W), as
defined by 31 holes.
R390E Zone:
The R390E zone is located approximately 135m grid east of the
easternmost defined edge of the R00E zone and presently has a
defined strike length of 255m (line 225E to line 480E) and a
lateral grid north-south width of up to approximately 50m (line
390E), as defined by 34 holes.
R585E Zone:
The R585E zone is located approximately 60m grid east of the
easternmost defined edge of the R390E zone and presently has a
defined strike length of 75m (line 540E to line 615E) and a lateral
grid north-south width of up to approximately 20m, as defined by 10
holes.
R780E Zone:
The R780E zone is located approximately 105m grid east of the
easternmost defined edge of the R585E zone and presently has a
defined strike length of approximately 270m a lateral grid
north-south width of up to approximately 95m (line 780E), as
defined by 32 holes. The geologic setting of the R780E zone is
similar to other zones, consisting of mineralization primarily
associated with sequences of steeply south dipping pelitic
lithology with localized mylonites and cataclasites.
Fission has completed 36 of the planned 85 holes of the Winter
2014 program 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.
|
|
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|
Collar |
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* Hand-held Scintillometer Results On Mineralized
Drillcore (>300 cps / >0.5M minimum) |
|
Sand- stone |
|
Base- ment Uncon- formity |
|
Total Drill- hole |
Hole ID |
|
Zone |
|
Grid Line |
|
Az |
|
Dip |
|
From (m) |
|
To (m) |
|
Width (m) |
|
CPS Peak Range |
|
From - To (m) |
|
Depth (m) |
|
Depth (m) |
PLS14-159 |
|
R390E |
|
345E |
|
61 |
|
-90 |
|
51.0 |
|
57.5 |
|
6.5 |
|
<300 - 1000 |
|
NA |
|
51.8 |
|
275.0 |
|
|
|
|
|
|
|
|
|
|
63.0 |
|
64.0 |
|
1.0 |
|
350 - 440 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
68.5 |
|
107.0 |
|
38.5 |
|
<300 - 9300 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
111.0 |
|
131.0 |
|
20.0 |
|
<300 - 2400 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
142.5 |
|
145.5 |
|
3.0 |
|
<300 - 440 |
|
|
|
|
|
|
PLS14-160 |
|
R585E |
|
540E |
|
354 |
|
-82.5 |
|
55.0 |
|
58.0 |
|
3.0 |
|
<300 - 520 |
|
55.0 - 55.7 |
|
55.7 |
|
365.0 |
|
|
|
|
|
|
|
|
|
|
69.0 |
|
107.5 |
|
38.5 |
|
<300 - >9999 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
120.0 |
|
121.0 |
|
1.0 |
|
1800 - >9999 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
128.0 |
|
144.0 |
|
16.0 |
|
<300 - >9999 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
153.5 |
|
154.0 |
|
0.5 |
|
660 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
174.0 |
|
175.5 |
|
1.5 |
|
310 - 410 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
187.0 |
|
197.0 |
|
10.0 |
|
<300 - >9999 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
201.0 |
|
204.0 |
|
3.0 |
|
460 - >9999 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
224.5 |
|
229.0 |
|
4.5 |
|
<300 - 2100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
234.5 |
|
240.0 |
|
5.5 |
|
<300 - 400 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
244.5 |
|
246.5 |
|
2.0 |
|
<300 - 480 |
|
|
|
|
|
|
PLS14-161 |
|
R780E |
|
930E |
|
296 |
|
-90 |
|
101.5 |
|
102.5 |
|
1.0 |
|
450 - 1300 |
|
NA |
|
58.4 |
|
353.0 |
|
|
|
|
|
|
|
|
|
|
114.0 |
|
114.5 |
|
0.5 |
|
640 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
117.0 |
|
122.5 |
|
5.5 |
|
<300 - 540 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
132.5 |
|
176.0 |
|
43.5 |
|
<300 - 5700 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
189.5 |
|
196.5 |
|
7.0 |
|
320 - >9999 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
205.5 |
|
206.0 |
|
0.5 |
|
490 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
209.5 |
|
225.5 |
|
16.0 |
|
<300 - >9999 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
243.0 |
|
253.5 |
|
10.5 |
|
<300 - 1200 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
271.0 |
|
276.5 |
|
5.5 |
|
<300 - 3200 |
|
|
|
|
|
|
PLS14-163 |
|
R000E |
|
030E |
|
327 |
|
-79 |
|
101.5 |
|
102.5 |
|
1.0 |
|
300 - 340 |
|
NA |
|
49.0 |
|
275.0 |
|
|
|
|
|
|
|
|
|
|
126.0 |
|
133.5 |
|
7.5 |
|
<300 - 2400 |
|
|
|
|
|
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A $12M, 90 hole, 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://www.fissionuranium.com/projects/patterson-lake-south-sk/.
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.
Fission Uranium Corp.Rich MatthewsInvestor RelationsTF:
877-868-8140rich@fissionuranium.comwww.fissionuranium.com
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