home Equities Fission Hits Three New High-Grade Holes at R1515W

Fission Hits Three New High-Grade Holes at R1515W

KELOWNA, British Columbia, March 13, 2018 (GLOBE NEWSWIRE) — FISSION URANIUM CORP.(“Fission” or “the Company“) (TSX:FCU) (OTCQX:FCUUF) (FRANKFURT:2FU) is pleased to announce results from its final four Winter drill holes on the R1515W zone, at its’ PLS property, in Canada\’s Athabasca Basin region. All four holes have hit mineralization, with three intercepting high-grade radioactivity. The shallow depth, R1515W is the westernmost zone of the Triple R deposit and these latest results have expanded mineralization on lines 1560W, 1530W and 1500W. The holes include PLS18-574 (line 1560W), which intersected 42.0m of total composite mineralization, including 5.60m of total composite radioactivity >10,000 cps (with a peak of >65,535 cps).

Drilling Highlights

  • R1515W zone expanded on lines 1560W, 1530W and 1500W
  • Hole PLS18-574 (line 1560W)
    • 42.0m total composite mineralization over a 119.0m interval (between 128.0m – 247.0m), including
    • 5.60m of total composite >10,000 cps
  • Hole PLS18-577 (line 1530W)
    • 47.5m total composite mineralization over a 181.5m interval (between 127.0m – 308.5m), including
    • 0.70m of total composite >10,000 cps

Ross McElroy, President, COO, and Chief Geologist for Fission, commented,

All 8 holes that we’ve drilled on the R1515W zone this winter has hit mineralization and we’ve continued to see very encouraging results. This most recent batch of drill holes includes wide, high-grade mineralization and an expansion of the zone, both laterally and at depth on lines 1560W, 1530W and 1500W. The R1515W remains open and prospective for future drill programs.

Table 1:  R1515W Zone

Hole ID Zone Grid Line Collar Hand-held Scintillometer Results On Mineralized Drillcore (>300 cps / >0.5M minimum) Lake
From – To
Basement Unconformity
Total Drillhole
Az Dip From
CPS Peak
PLS18-574 R1515W 1560W 343 -79.0 128.0 128.5 0.5 380 NA NA 102.0 350.0
138.0 138.5 0.5 660
154.0 155.0 1.0 470 – 650
159.0 171.0 12.0 <300 – 800
184.0 185.5 1.5 300 – 700
188.0 202.5 14.5 310 – >65,535
212.5 222.0 9.5 <300 – >65,535
224.5 226.5 2.0 410 – 3100
246.5 247.0 0.5 520
PLS18-576 R1515W 1560W 325 -79.3 162.0 163.0 1.0 320 – 1000 NA NA 105.4 338.0
184.5 188.5 4.0 390 – 6200
PLS18-577 R1515W 1530W 321 -84.6 127.0 127.5 0.5 480 NA NA 101.1 416.0
136.5 137.0 0.5 410
153.5 155.5 2.0 <300 – 850
158.0 175.5 17.5 <300 – 14500
178.5 179.5 1.0 350 – 950
183.0 183.5 0.5 2800
204.5 207.5 3.0 <300 – 350
216.5 217.5 1.0 350 – 400
232.0 234.0 2.0 1400 – 6000
243.0 247.0 4.0 <300 – 3000
258.5 261.5 3.0 380 – 1400
265.5 268.5 3.0 <300 – 970
271.0 278.5 7.5 360 – 10500
294.5 295.0 0.5 360
307.0 308.5 1.5 540 – 640
PLS18-578A R1515W 1500W 324 -80.9 149.0 155.0 6.0 <300 – 2800 NA NA 108.4 305.0
162.5 174.0 11.5 <300 – 26500
195.0 195.5 0.5 1300
208.0 208.5 0.5 2700
212.0 212.5 0.5 350

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.  The Triple Gamma probe is preferred in zones of high grade mineralization.  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.  All depths reported of core interval measurements including radioactivity and mineralization intervals widths are not always representative of true thickness.  The orientation of the mineralized intervals tend to follow that of lithologic contacts, and generally dip steeply to the south. Within the Triple R deposit, individual zone wireframe models constructed from assay data and used in the resource estimate indicate that all 5 zones have a complex geometry controlled by and parallel to steeply south-dipping lithological boundaries as well as a preferential sub-horizontal orientation.

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, ~68m across strike and ~220m vertical and where mineralization remains open in several directions.  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.

Source: Fission Website