Fission Uranium Corp.: 18.8% Over 5.5m Confirms 945E High-Grade Growth
December 18, 2013 (Source: Marketwired) — FISSION URANIUM CORP. (TSX VENTURE:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) (“Fission” or “the Company“) is pleased to announce assays for three holes drilled on the R945E Zone. Hole PLS13-096 (line 930E) is of particular note. With 85.5m of total composite mineralization, the hole includes intervals such as 5.5m @18.20% U308 within 14.0m @7.91% U308 and also 3m @14.22% U3O8 in 40m @1.59% U3O8. The best assay in the hole was 0.5m of 43.7% U3O8. Holes PLS13-096 and PLS13-084 both returned mineralization in nearly half of the entire intervals (43% and 42% respectively) highlighting the broad system of mineralization in this zone.
The R945E zone is the easternmost high-grade zone at PLS and remains wide open in all directions. The zone has presently been tested over 30m of strike length in 4 holes. Results from a 4th hole (PLS13-099 on line 960E) is pending. The results of these three holes (PLS13-084, 092 and 096) represent substantial growth in high-grade mineralization identified so far.
Drilling Highlights include:
PLS13-096 (line 930E)
- 40.0m (138.0m – 178.0m) @ 1.59% U3O8, including:
- 3.0m (173.5m – 176.5m) @ 14.22% U3O8
- 14.0m (249.5m – 263.5m) @ 7.91% U308, including:
- 5.5m (250.5m – 256.0m) @ 18.20% U308
- Highest assay in hole: 43.7% U3O8 over 0.5m (250.5m – 251.0m)
PLS13-084 (line 945E)
- 13.5m (232.5m – 246.0m) @ 3.69% U3O8, including:
- 4.5m (240.5m – 245.0m) @ 7.27% U3O8
- Highest assay in hole: 34.2% U3O8 over 0.5m (244.5m – 245.0m)
PLS13-092 (line 435E)
- 16.0m (163.0m – 179.0m) @0.84% U3O8, including:
- 4.0m (165.5m -169.5m) @1.62% U3O8
Ross McElroy, President, COO, and Chief Geologist for Fission, commented,
“The results at R945E show another dramatic increase in high-grade mineralization along the 1.78km mineralized trend. The overall width of mineralization and the particularly strong high-grade sub-intervals found within all three holes clearly underlines the increasing potential of the zone. As the easternmost high-grade zone identified to date and open in all directions, we are very pleased with progress at R945E as this demonstrates the high potential of growth of the mineralized system.”
Composited % U3O8 mineralized intervals are summarized in Table 1 below. Samples from the drill core are split in half 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 in Saskatoon, SK for analysis, while the other half remains on site for reference. All depth measurements reported, including sample and interval widths are down-hole, core interval measurements and true thickness are yet to be determined.
|Zone||Hole ID||Grid Line||From (m)||To (m)||Interval (m)||U3O8 (wt%)|
|1.||Minimum Thickness: 0.50m|
|2.||Grade Cut-off: 0.05 U3O8 (wt%)|
|3.||Maximum Internal Dilution: 2.00m|
Drillhole PLS13-084 (line 945E) the 1st hole drilled into the R945E zone, was collared as a vertical hole and was completed at a depth of 350.0m. A total composite mineralization of 82.0m comprised of 16 discrete mineralized intervals grading >0.05% U3O8 and ranging in width from 0.5m to 25.5m wide were intersected over a 195.5m span (101.5m – 297.0m) (see Table 1). This represents 42% of the entire 195.5m section being mineralized. The strongest interval returned a value of 3.69% U3O8 over 13.5m (232.5m – 246.0m) including two higher grade intervals returning 9.12% U3O8 over 1.0m (235.0m – 236.0m) and 7.27% U3O8 over 4.5m (240.5m – 245.0m) respectively. A 25.5m wide mineralized zone (156.5m – 182.0m) returned a composite grade of 0.27% U3O8.
Drillhole PLS13-092 (line 945E) was collared as a vertical hole and was completed at a depth of 377.0m. The collar is located 10m grid north of PLS13-084. A total of 10 discrete mineralized intervals grading >0.05% U3O8 and ranging in width from 0.5m to 16.0m wide were intersected over a 160.0m span (158.0m – 318.0m) (see Table 1). The strongest interval returned a value of 0.84% U3O8 over 16.0m (163.0m – 179.0m) including two higher grade intervals returning 1.62% U3O8 over 4.0m (165.5m – 169.5m) and 6.22% U3O8 over 0.5m (172.0m – 172.5m) respectively.
Drillhole PLS13-096 (line 930E) was collared as a vertical hole and was completed at a depth of 365.0m. A total composite mineralization of 85.5m comprised of 13 discrete mineralized intervals grading >0.05% U3O8 and ranging in width from 0.5m to 40.0m wide were intersected over a 198.5m span (98.0m – 296.5m) (see Table 1). This represents 43% of the entire 198.5m section being mineralized. The strongest interval returned a value of 7.91% U3O8 over 14.0m (249.5m – 263.5m) including a higher grade interval returning 18.2% U3O8 over 5.5m (250.5m – 256.0m). A robust 40.0m wide mineralized zone (138.0m – 178.0m) returned a composite grade of 1.59% U3O8, including a higher grade interval returning 14.22% U3O8 over 3.0m.
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. Updated maps and scintillometer table for the R390 zone can be found on the Company’s website at http://fissionuranium.com/project/pls/overview/news/.
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 acquisition, exploration and development of uranium properties 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.
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