Fission Hits 14.74% U3O8 Over 10.0m at Shallow Depth (Line 540E)
Multiple new shallow, high-grade assays at PLS
KELOWNA, BRITISH COLUMBIA--(Marketwired - May 29, 2014) -
FISSION URANIUM CORP. (TSX-VENTURE:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU)
("Fission" or "the Company") is pleased to announce assay results
from nine holes drilled in the R780E zone and one drilled in the
R00E zone at its Patterson Lake South (PLS) property in
Saskatchewan's Athabasca Basin, Canada. Of particular note is hole
PLS14-160, located on line 540E. The hole returned high-grade
intervals such as 14.74% U3O8 over 10.0m in a composite interval of
4.44% U3O8 over 38.0m. All ten holes intersected wide intervals and
six of the holes returned substantial high-grade assays.
The strong mineralization exhibited in holes PLS14-160, 171 and
156 shows the exceptional strength of uranium mineralization in the
middle region over a substantial strike length of the R780E zone.
The size of this shallow, very robust high-grade central region has
grown considerably during the course of the winter program. Other
spectacular holes from this area include PLS14-129 (line 600E) and
PLS14-187 (line 660E) as reported in news releases of Feb 19th,
2014 and April 22nd, 2014 respectively.
Assay Highlights
|
PLS14-160 (Line 540E) |
|
• |
38.0m (69.0m to 107.0m) @ 4.44% U3O8, including: |
|
|
|
10.0m
(77.0m to 87.0m) @ 14.74% U3O8 |
|
• |
9.50m (187.0m to 196.5m) @ 1.05% U3O8, including: |
|
|
|
2.50m
(192.0m to 194.5m) @ 3.44% U3O8 |
|
|
|
|
PLS14-171 (Line 690E) |
|
• |
18.50m (75.0m to 93.5m) @ 1.05% U3O8, including: |
|
|
|
2.50m
(86.0m to 88.5m) @ 4.42% U3O8 |
|
• |
48.0m (105.0m to 153.0m) @ 2.96% U3O8, including: |
|
|
|
11.50m (121.0m to 132.5m) @ 8.67% U3O8 |
|
|
|
|
PLS14-156 (Line 720E) |
|
• |
19.0m (103.5m to 122.5m) @ 4.68% U3O8, including: |
|
|
|
5.50m
(109.5m to 115.0m) @ 12.32% U3O8 |
|
• |
4.50m (202.0m to 206.5m) @ 3.69% U3O8, including: |
|
|
|
1.50m
(202.0m to 203.5m) @ 10.67% U3O8 |
To date, assay results from 40 holes of the recent winter
program have now been released; results from 52 holes are
pending.
Ross McElroy, President, COO, and Chief Geologist for Fission,
commented,
"Another round of superb growth confirmed at PLS. We are
seeing some very high grades and wide intervals, as evidenced by
holes such as PLS14-160 and PLS14-171. We have considerable
mineralization in all ten holes and, just as importantly,
mineralization starts at depths as shallow as 50.0m. We continue to
be very pleased with the results of our aggressive winter
program."
Composited % U3O8 mineralized intervals are summarized in Tables
1 & 2 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.
| Table
1: R780E Zone |
| Composited Mineralized Intervals (Down-hole
measurements) |
|
Zone |
Hole ID |
Grid Line |
From (m) |
To (m) |
Interval (m) |
U3O8 (wt%) |
|
R780E |
PLS14-153 |
870E |
91.50 |
92.00 |
0.50 |
0.08 |
|
|
|
|
104.00 |
104.50 |
0.50 |
0.05 |
|
|
|
|
106.50 |
107.00 |
0.50 |
0.07 |
|
|
|
|
108.50 |
109.00 |
0.50 |
0.07 |
|
|
|
|
112.50 |
114.00 |
1.50 |
0.08 |
|
|
|
|
117.50 |
129.50 |
12.00 |
0.16 |
|
|
|
|
133.50 |
134.50 |
1.00 |
0.23 |
|
|
|
|
161.50 |
162.00 |
0.50 |
0.10 |
|
|
|
|
166.50 |
188.00 |
21.50 |
0.34 |
|
|
|
|
180.50 |
182.50 |
2.00 |
1.47 |
|
|
|
|
191.50 |
193.00 |
1.50 |
3.13 |
|
|
|
|
197.00 |
200.50 |
3.50 |
0.86 |
|
|
|
|
203.00 |
208.50 |
5.50 |
0.78 |
|
|
|
|
203.50 |
204.50 |
1.00 |
3.76 |
|
|
|
|
215.00 |
225.50 |
10.50 |
0.64 |
|
|
|
|
215.00 |
216.00 |
1.00 |
4.16 |
|
|
|
|
259.00 |
260.00 |
1.00 |
0.20 |
|
|
|
|
271.00 |
275.00 |
4.00 |
0.14 |
|
|
|
|
285.00 |
287.50 |
2.50 |
0.09 |
|
|
|
|
290.00 |
292.00 |
2.00 |
0.05 |
|
|
|
|
313.00 |
316.50 |
3.50 |
0.07 |
|
R780E |
PLS14-155 |
780E |
146.50 |
148.00 |
1.50 |
0.08 |
|
|
|
|
150.50 |
151.50 |
1.00 |
0.07 |
|
|
|
|
155.00 |
156.00 |
1.00 |
0.07 |
|
|
|
|
158.50 |
159.00 |
0.50 |
0.06 |
|
|
|
|
166.50 |
167.00 |
0.50 |
0.06 |
|
|
|
|
177.00 |
177.50 |
0.50 |
0.05 |
|
|
|
|
183.00 |
184.00 |
1.00 |
0.06 |
|
|
|
|
239.00 |
239.50 |
0.50 |
0.06 |
|
|
|
|
256.00 |
262.50 |
6.50 |
0.06 |
|
|
|
|
291.00 |
291.50 |
0.50 |
0.20 |
|
|
|
|
294.00 |
300.00 |
6.00 |
0.05 |
|
|
|
|
341.00 |
341.50 |
0.50 |
0.08 |
|
|
|
|
416.00 |
422.00 |
6.00 |
0.09 |
|
R780E |
PLS14-156 |
720E |
65.00 |
66.00 |
1.00 |
0.13 |
|
|
|
|
103.50 |
122.50 |
19.00 |
4.68 |
|
|
|
|
109.50 |
115.00 |
5.50 |
12.32 |
|
|
|
|
125.00 |
151.00 |
26.00 |
0.37 |
|
|
|
|
144.00 |
147.00 |
3.00 |
1.50 |
|
|
|
|
154.50 |
159.50 |
5.00 |
0.11 |
|
|
|
|
167.00 |
167.50 |
0.50 |
0.17 |
|
|
|
|
175.50 |
176.50 |
1.00 |
0.15 |
|
|
|
|
184.50 |
185.50 |
1.00 |
4.55 |
|
|
|
|
202.00 |
206.50 |
4.50 |
3.69 |
|
|
|
|
202.00 |
203.50 |
1.50 |
10.67 |
|
|
|
|
211.50 |
212.00 |
0.50 |
0.08 |
|
R780E |
PLS14-159 |
345E |
50.00 |
54.50 |
4.50 |
0.07 |
|
|
|
|
57.00 |
57.50 |
0.50 |
0.06 |
|
|
|
|
63.50 |
64.00 |
0.50 |
0.08 |
|
|
|
|
69.00 |
75.00 |
6.00 |
0.55 |
|
|
|
|
77.50 |
87.50 |
10.00 |
0.29 |
|
|
|
|
91.00 |
91.50 |
0.50 |
0.07 |
|
|
|
|
116.00 |
130.00 |
14.00 |
0.17 |
|
|
PLS14-160 |
540E |
57.00 |
57.50 |
0.50 |
0.07 |
|
|
|
|
69.00 |
107.00 |
38.00 |
4.44 |
|
|
|
|
77.00 |
87.00 |
10.00 |
14.74 |
|
|
|
|
120.00 |
121.00 |
1.00 |
4.16 |
|
|
|
|
128.50 |
133.50 |
5.00 |
0.76 |
|
|
|
|
136.00 |
143.50 |
7.50 |
0.20 |
|
|
|
|
150.00 |
151.00 |
1.00 |
0.07 |
|
|
|
|
153.50 |
154.00 |
0.50 |
0.08 |
|
|
|
|
174.50 |
175.00 |
0.50 |
0.06 |
|
|
|
|
187.00 |
196.50 |
9.50 |
1.05 |
|
|
|
|
192.00 |
194.50 |
2.50 |
3.44 |
|
|
|
|
200.50 |
204.00 |
3.50 |
0.77 |
|
|
|
|
224.50 |
229.00 |
4.50 |
0.07 |
|
|
|
|
244.50 |
246.00 |
1.50 |
0.06 |
|
|
|
|
277.00 |
277.50 |
0.50 |
0.06 |
|
R780E |
PLS14-165 |
540E |
119.50 |
120.00 |
0.50 |
0.09 |
|
|
|
|
122.00 |
122.50 |
0.50 |
0.09 |
|
|
|
|
124.00 |
132.50 |
8.50 |
0.05 |
|
|
|
|
135.50 |
146.00 |
10.50 |
0.13 |
|
|
|
|
149.50 |
151.00 |
1.50 |
0.17 |
|
|
|
|
155.00 |
156.00 |
1.00 |
0.09 |
|
|
|
|
159.50 |
165.50 |
6.00 |
0.38 |
|
|
|
|
161.50 |
162.50 |
1.00 |
1.49 |
|
|
|
|
170.50 |
174.50 |
4.00 |
0.12 |
|
|
|
|
177.00 |
181.50 |
4.50 |
0.09 |
|
|
|
|
195.00 |
196.00 |
1.00 |
0.14 |
|
|
|
|
244.50 |
248.50 |
4.00 |
0.43 |
|
R780E |
PLS14-167 |
360E |
78.00 |
103.50 |
25.50 |
0.38 |
|
|
|
|
94.50 |
98.00 |
3.50 |
1.31 |
|
|
|
|
107.00 |
108.00 |
1.00 |
0.10 |
|
|
|
|
110.50 |
117.50 |
7.00 |
0.29 |
|
|
|
|
120.00 |
138.50 |
18.50 |
1.16 |
|
|
|
|
125.50 |
132.00 |
6.50 |
3.10 |
|
|
|
|
142.00 |
143.00 |
1.00 |
0.12 |
|
R780E |
PLS14-169 |
285E |
84.00 |
84.50 |
0.50 |
0.12 |
|
|
|
|
144.50 |
153.00 |
8.50 |
0.13 |
|
|
|
|
160.50 |
177.50 |
17.00 |
0.15 |
|
R780E |
PLS14-171 |
690E |
61.50 |
69.50 |
8.00 |
0.07 |
|
|
|
|
75.00 |
93.50 |
18.50 |
1.05 |
|
|
|
|
86.00 |
88.50 |
2.50 |
4.42 |
|
|
|
|
105.00 |
153.00 |
48.00 |
2.96 |
|
|
|
|
121.00 |
132.50 |
11.50 |
8.67 |
|
|
|
|
156.50 |
158.00 |
1.50 |
0.13 |
|
|
|
|
189.50 |
190.00 |
0.50 |
0.09 |
|
|
|
|
210.00 |
210.50 |
0.50 |
0.09 |
|
|
|
|
214.00 |
218.00 |
4.00 |
0.14 |
|
|
|
|
221.50 |
222.00 |
0.50 |
0.08 |
|
|
|
|
263.00 |
263.50 |
0.50 |
1.37 |
Composite Parameters
- Minimum Thickness: 0.50m
- Grade Cut-Off: 0.05 U3O8 (wt%)
- Maximum Internal Dilution: 2.00m
|
| Table
2: R00E Zone |
| Composited Mineralized Intervals (Down-hole
measurements) |
|
Zone |
Hole ID |
Grid Line |
From (m) |
To (m) |
Interval (m) |
U3O8 (wt%) |
|
R00E |
PLS14-163 |
030E |
128.50 |
133.50 |
5.00 |
0.14 |
Composite Parameters
- Minimum Thickness: 0.50m
- Grade Cut-Off: 0.05 U3O8 (wt%)
- Maximum Internal Dilution: 2.00m
PLS14-163 was collared 10m grid south of PLS13-059 (20.5m @
8.57% U3O8) and intersected a weakly mineralized interval
approximately 60m down-dip of the mineralization in PLS13-059.
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.
Fission has received and released assay results on 40 holes from
its winter 2014 drill program at PLS. Updated maps and files can be
found on the Company's website at
http://fissionuranium.com/project/pls/.
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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