Fission Energy Corp.: 57.5m of Mineralization At PLS With 11.65m Off-scale On 385m On-Strike Step-out
February 19, 2013 (Source: Marketwire) Kelowna, BC — Fission Energy Corp.(TSX VENTURE:FIS)(OTCQX:FSSIF) and its Joint Venture partner Alpha Minerals Inc. are pleased to announce the results of hole PLS13-038.
- A 385m east step out on strike with mineralization previously released on Lines L00W, L015W, L025W.
- Two main wide broad zones of mineralization (Upper and Lower Zone), as measured with a GR-110 hand-held scintillometer;
- Upper Zone (86.5m – 144.0m) – A 57.5m wide zone characterized by variable radioactivity from weak to very strong throughout. Within the Upper Zone is a continuous 11.9m wide interval (94.9m – 106.8m) of very strong mineralization which includes 10.6m of off-scale radioactivity.
- Lower Zone (165.0m – 180.5m) – A 15.5m wide zone characterized by intermittent weak to locally moderate mineralized zones and barren intervals.
Hole PLS13-038 was collared as a vertical hole and was completed at a depth of 221.6m. The collar is located 385m grid east of PLS12-022 (8.5m @ 1.07% U3O8; see news release December 5, 2012) and thus represents a new discovery area for PLS on trend with strike of the known mineralization (holes PLS12-022 to 025 and PLS13-026, 027), and with a similar nature of mineralization occurring approximately 20m north of the EM conductor axis. The relevant geological features of the hole are as follows: At 48.8m depth, a thin (1.9m wide) cap of probable Devonian Sandstone was encountered which overlies the semi-pelite gneiss hanging wall that constrains an intercalated package of pelite graphitic pelite gneiss. Occasional pegmatite injections were observed throughout the pelite, graphitic pelite, and semi-pelite units. In general, the strong mineralization is associated with flecks, blebs, clots, and veins of pitchblende. Of note, wormhole style mineralization was observed for the first time. Moderate to strong clay, chlorite, and hematite alteration were observed throughout the mineralization.
Ross McElroy, President, COO, and Chief Geologist for Fission, commented,
“Hole PLS13-038, based on anomalous results of a recently completed radon in water and sediment survey, clearly builds on the strong start we’ve had to the winter program at PLS. Such broad mineralization at shallow depth with such a significant zone of off-scale radioactivity is extremely encouraging. Further drilling will be focused in the area around this new exciting drill result.”
The drill hole location was based on anomalous results of a recently completed radon in water anomaly, of which the survey results are note as follows. RadonEx Exploration Management of Montreal were contracted to conduct a 191 station Lake Water and Sediment Radon survey over Patterson Lake, on strike to the east of the mineralization encountered in drilling last November 2012. Station spacing was generally 20m on 60m lines. Of note, 3 broad anomalous area were identified, with values up to 11.4 pCi/L; A) 90m x 70m (L165E – L255E) and B) 240m x 140m (L300E 0 L540E). Drill hole PLS13-038 was targeted to test this area. A 3rd anomaly is located approximately 2.2km east of discovery hole PLS13-022 and will be followed up by drilling.
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The 31,039 hectare PLS project is a 50%/50% Joint Venture held by Fission Energy Corp. and Alpha Minerals Inc (AMW). Fission is the Operator. PLS is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine (>60M lbs of U3O8 produced), and passes through the nearby UEX-Areva Shea Creek discoveries located 50km to the north, currently under active exploration and development. An updated map highlighting the core and dual rotary drilling programs planned for PLS can be found by clicking here
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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