November 21, 2022 (Source) – FISSION 3.0 CORP (TSXV: FUU) (“Fission 3” or “the Company”) is pleased to announce that it has intersected extremely radioactive and off-scale (>65,000 cps) mineralization in a new uranium discovery occurring as massive pitchblende, pitchblende buttons and veins at the start of its fall drill program on its 100% owned Patterson Lake North “PLN” project in the southwest Athabasca Basin region of Saskatchewan, Canada.
Two diamond drills commenced on the previously undrilled 800 m northwest strike extension of the ~3 km long A1 conductor. A new uranium discovery has been made in the second drill hole of the fall program. PLN22-035 is a 730 m step-out from a weakly mineralized drillhole, PLN14-019, drilled in 2014. PLN22-035 targeted the ground Time Domain Electromagnetic (TDEM) A1 conductor. Drill hole PLN22-034, the first hole of the fall drill program, intersected the A1 structure but no mineralization (>300cps) was noted.
Drilling Highlights:
PLN22-035 (line 00N)
- 15.0 m total composite mineralization >300 cps over a 15.5 m interval (between 257.0 m to 272.5 m), including
- 5.62 m of total composite mineralization >10,000 cps over a 6.3 m interval (between 259.0 m and 265.3 m including
- 1.5 m of total off scale radioactivity (>65,000 cps) over a 2.0 m interval (between 262.0 m and 264.0 m)
- 5.62 m of total composite mineralization >10,000 cps over a 6.3 m interval (between 259.0 m and 265.3 m including
- the hole is still in progress
Raymond Ashley, Vice President Exploration, commented
“We are very excited about this new high-grade uranium discovery at the start of our fall drilling program on the A1 conductor. The drilling program is being immediately amended to further delineate this new off-scale uranium mineralization within a significant 15.0 m wide mineralized altered structural damage zone. I am very grateful to work with this dedicated and extremely capable exploration team, and very proud of this new discovery that we have all made.”
Table 1: Drill Hole Summary
| Hole ID | Target | Collar | * Hand-held Spectrometer Results On Mineralized Drillcore (>300 cps / >0.5M minimum) | Basement Unconformity Depth (m) | Total Drillhole Depth (m) | ||||||
| Easting | Northing | Az | Dip | From (m) | To (m) | Width (m) | Max CPS | ||||
| PLN22-034 | A1 Conductor | 587885 | 6410348 | 52 | -50 | 168.7 | 374 | ||||
| PLN22-035 | A1 Conductor | 587657 | 6410711 | 52 | -52 | 257.00 | 257.50 | 0.5 | 630 | 227.0 | In Progress |
| 257.50 | 258.00 | 0.5 | 1300 | ||||||||
| 258.00 | 258.50 | 0.5 | 5500 | ||||||||
| 258.50 | 259.00 | 0.5 | 2200 | ||||||||
| 259.00 | 259.50 | 0.5 | 12400 | ||||||||
| 259.50 | 260.00 | 0.5 | 4000 | ||||||||
| 260.00 | 260.18 | 0.18 | 6000 | ||||||||
| 260.18 | 260.50 | 0.32 | 20100 | ||||||||
| 260.50 | 261.00 | 0.5 | 23000 | ||||||||
| 261.00 | 261.50 | 0.5 | 30000 | ||||||||
| 261.50 | 262.00 | 0.5 | 47400 | ||||||||
| 262.00 | 262.50 | 0.5 | >65000 | ||||||||
| 262.50 | 263.00 | 0.5 | 19800 | ||||||||
| 263.00 | 263.50 | 0.5 | >65000 | ||||||||
| 263.50 | 264.00 | 0.5 | >65000 | ||||||||
| 264.00 | 264.50 | 0.5 | 48200 | ||||||||
| 264.50 | 265.00 | 0.5 | 62200 | ||||||||
| 265.00 | 265.30 | 0.3 | 15200 | ||||||||
| 265.30 | 265.50 | 0.2 | 2800 | ||||||||
| 265.50 | 266.00 | 0.5 | 630 | ||||||||
| 266.00 | 266.50 | 0.5 | 2100 | ||||||||
| 266.50 | 267.00 | 0.5 | 790 | ||||||||
| 267.00 | 267.50 | 0.5 | 350 | ||||||||
| 267.50 | 268.00 | 0.5 | 1100 | ||||||||
| 268.00 | 268.50 | 0.5 | 360 | ||||||||
| 268.50 | 269.00 | 0.5 | <300 | ||||||||
| 269.00 | 269.50 | 0.5 | 1000 | ||||||||
| 269.50 | 270.00 | 0.5 | 460 | ||||||||
| 270.00 | 270.50 | 0.5 | 7300 | ||||||||
| 270.50 | 271.00 | 0.5 | 600 | ||||||||
| 271.00 | 271.50 | 0.5 | 6600 | ||||||||
| 271.50 | 272.00 | 0.5 | 390 | ||||||||
| 272.00 | 272.50 | 0.5 | 2000 |
Drill collar locations in UTM NAD 83 coordinates
The Companies innovative use of a sonic drill facilitates penetration through relatively deep and difficult overburden to set drill casing at shallow angles. Consequently, the shallow inclined holes that intersect the steeply dipping lithologies provide reported intervals that are closer to true thickness.
Figure 1
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Figure 2
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Natural gamma radiation in the drill core that is reported in this news release was measured in counts per second (cps) using a handheld Radiation Solutions RS-125 scintillometer. The Company considers greater than 300 cps on the handheld spectrometer as anomalous, >10,000 cps as high grade and greater than 65,000 cps as off-scale. 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. All depth measurements reported are down-hole and true thickness are yet to be determined. Samples from the drill core are split in half on site and are standardized at 0.5 m lengths. One half of the split sample will be submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK. for lithogeochemical analysis using their “Uranium Package”.
About Patterson Lake North:
The Company’s large 39,946 hectare 100% owned Patterson Lake North property (PLN) lies adjacent and immediately north of the Patterson Lake South property (PLS), owned by Fission Uranium Corp., where Fission Uranium expects to complete a Feasibility Study on its Triple R deposit. PLN is accessed by Provincial Highway 955, which transects the property.
Qualified Person
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 approved on behalf of the company by Raymond Ashley, P.Geo., Vice President, Exploration of Fission 3.0 Corp., a Qualified Person. Mr. Ashley has verified the data disclosed.
About Fission 3.0 Corp.
Fission 3 is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of the world’s largest high grade uranium discoveries. Fission 3 currently has 16 projects in the Athabasca Basin. Several of Fission 3’s projects are near large uranium discoveries, including, Arrow, Triple R and Hurricane deposits.
Forward Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.
Fission 3.0 Corp. Contact Information
Investor Relations
Telephone: 778 484 8030
Email: [email protected]
ON BEHALF OF THE BOARD
“Dev Randhawa”
Dev Randhawa, CEO
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 3.0 Corp. 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 Fission 3 Corp. 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 sec.
