KELOWNA, British Columbia, Feb. 26, 2018 (GLOBE NEWSWIRE) — FISSION URANIUM CORP. (“Fission” or “the Company”) (OTCQX:FCUUF) (TSX:FCU) is pleased to announce that its first four Winter drill holes have hit wide mineralization, with high-grade radioactivity, at the R1515W zone at its’ PLS property, host to the Triple R deposit, in Canada’s Athabasca Basin region. The shallow depth, R1515W is the westernmost zone of the Triple R deposit and newly drilled results have expanded mineralization on lines 1530W and 1560W. The holes include PLS18-571 (line 1560W), which intersected 108.0m of total composite mineralization, including 5.81m of total composite radioactivity >10,000 cps (with a peak of >65,535 cps).
R1515W zone expanded on line 1530W and 1560W
Hole PLS18-571 (line 1560W)
° 108.0m total composite mineralization over a 160.0m interval (between 110.5m – 270.5m), including
° 5.81m of total composite >10,000 cps
Hole PLS18-572 (line 1530W)
° 94.0m total composite mineralization over a 211.5m interval (between 110.5m -322.0m), including
° 4.70m of total composite >10,000 cps
Hole PLS18-569 (line 1530W)
° 70.5m total composite mineralization over a 128.0m interval mineralization (between 114.0m – 242.0m), including
° 5.12m of total composite >10,000 cps
Ross McElroy, President, COO, and Chief Geologist for Fission, commented,
“The Winter program is off to an exciting and promising start. Following right after announcing an increase in the Triple R’s inferred category of resource estimate at PLS we have now already grown the deposit’s westernmost zone with four strong, high-grade radioactive holes. This mineralization indicates continued growth. With it’s similar lithology to the R780E – Triple R’s largest zone – the R1515W zone is an important focus for this program and we are very pleased with our 100% hit rate here.”
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 discovery hole was announced on November 05, 2012 with drill hole PLS12-022, from what is now referred to as the R00E zone.
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. R1515W is the western-most of the zones and is drill defined to ~90m in strike-length, where mineralization both to the west and east is open. R840W is located ~515m to the east along strike of R1515W and has a drill defined strike length of ~430m. R00E is located ~485m to the east along strike of R840W and is drill defined to ~115m in strike length. The R780E zone and R1620E zones make up the eastern region of the Triple R deposit. Both zones are located beneath Patterson Lake where water depth is generally less than six metres and overburden thickness is generally about 50m. R780E is located ~225m to the east of R00E and has a drill defined strike length of ~945m. R1620E is located ~210m along strike to the east of R780E, and is drill defined to ~185m in strike length.
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. Mineralization is both located within and associated with mafic volcanic intrusives with varying degrees of silicification, metasomatic mineral assemblages and hydrothermal graphite. The graphitic sequences are associated with the PL-3B basement Electro-Magnetic (EM) conductor.
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. Fission’s common shares are listed on the TSX Exchange under the symbol “FCU” and trade on the OTCQX marketplace in the U.S. under the symbol “FCUUF.”