Fission Hits Six High-Grade Holes; Completes Winter Program
Drilling aimed at converting regions of R780E High-Grade from inferred to indicated classification FISSION URANIUM CORP. ("Fission" or ?the Company" - https://www.youtube.com/watch?v=MGEAu20HKc4) is pleased to announce results from its final drill holes completed during the winter program at its? PLS property, in Canada''s Athabasca Basin region. These include six resource-upgrade holes, which intercepted wide, high-grade radioactivity, including PLS18-573 (line 510E), which returned 11.65m of total composite >10,000 cps in 119.0M of total composite mineralization. In addition, nineteen geotechnical holes including three rock mechanic and sixteen overburden holes were completed along with two hydrogeology holes as Fission continues to acquire and evaluate data for the PLS pre-feasibility study ?PFS? planned to be completed by the end of 2018.
Ross McElroy, President, COO, and Chief Geologist for Fission, commented,
"The Winter program has been a great success. As previously announced our exploration efforts have resulted in expanding the footprint of the R1515W zone with multiple high-grade step outs (see news release Mar 13, 2018) and now the PFS focused activities are likewise producing encouraging results: six in-fill holes designed to upgrade key areas of the Triple R deposit from inferred to indicated classification all intersected mineralization where projected. In addition, a series of detailed overburden and bedrock geotechnical holes tested their targets successfully and preliminary results indicate that the assumptions made with respect to mine design at the Preliminary Economic Assessment ?PEA? level were reasonable, with detailed analysis and implementation into the mine design continuing over the next several months.?
Winter Program PFS Work Highlights
A total of six in-fill holes (1,915m) targeted key high-grade areas of the R780E zone, which are presently classified as inferred, with the intent to upgrade those areas to indicated. It is anticipated that upgrading key areas of the resource from inferred to indicated would have a positive impact on the resource used for the PFS.
All six resource upgrade holes hit wide, high-grade mineralization, including hole PLS18-573 (line 510E)
0m total composite mineralization over a 177.0m interval (between 59.5m ? 236.5m), including
65m of total composite mineralization >10,000 cps
Geotechnical drilling and analysis of rock mechanics in bedrock (3 holes totaling ~703m) in the proposed R780E open pit area
Geotechnical drilling of overburden where a proposed ring dike surrounding the open-pit perimeter would be located (16 holes totaling 1,028m)
Continuation of data collection and analysis of the Baseline Environmental Study
Continuation of engagement with First Nations, community and government
The geotechnical program is important because any mine design contemplated at the ?PEA? level (as completed 2015) is to a great degree, conceptual in nature. The winter 2018 geotechnical program has acquired data needed to confirm important assumptions, which, in turn, will further de-risk the project. All aspects of the winter geotechnical program were successfully completed, and preliminary results support the assumptions made for the PEA, particularly regarding physical properties of the overburden and low incidence of boulders within the glacial till. Analysis will continue during 2018.
Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using a hand held RS-121 Scintillometer manufactured by Radiation Solutions, which is capable of discriminating readings up to 65,535 cps. Natural gamma radiation in the drill hole survey that is reported in this news release was measured in counts per second (cps) using a Mount Sopris 2GHF-1000 Triple Gamma probe, which allows for more accurate measurements in high grade mineralized zones.
PLS Mineralized Trend & Triple R Deposit Summary
Uranium mineralization of the Triple R deposit at PLS occurs within the Patterson Lake Conductive Corridor and has been traced by core drilling over ~3.18km of east-west strike length in five separated mineralized "zones" which collectively make up the Triple R deposit. From west to east, these zones are: R1515W, R840W, R00E, R780E and R1620E. Through successful exploration programs completed to date, Triple R has evolved into a large, near surface, basement hosted, structurally controlled high-grade uranium deposit.
The R1515W, R840W and R00E zones make up the western region of the Triple R deposit and are located on land, where overburden thickness is generally between 55m to 100m.
Mineralization along the Patterson Lake Corridor trend remains prospective along strike in both the western and eastern directions. Basement rocks within the mineralized trend are identified primarily as mafic volcanic rocks with varying degrees of alteration.
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 - host to the class-leading Triple R uranium deposit - and is headquartered in Kelowna, British Columbia."FCU" and trade on the OTCQX marketplace in the U.S. under the symbol "FCUUF."
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?.er 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.
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