EDITOR: | September 27th, 2013

Fission Expands R390E Zone By 400%

| September 27, 2013 | No Comments
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September 27, 2013 (Source: Marketwired) — FISSION URANIUM CORP. (TSX VENTURE:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) (“Fission” or “the Company“) the Operator, and its Joint Venture partner Alpha Minerals Inc. are pleased to announce results for an additional eight holes drilled on the R390E Zone. With a new strike length of approximately 255m, zone R390E has quadrupled in length since the winter 2013 program. Holes PLS13-095 and PLS13-102 are of particular note with 61.5m and 59.0m total composite mineralization respectively, including narrow intervals of “off-scale”.

Holes PLS13-087A, PLS13-088, PLS13-091, PLS13-093, PLS13-094, PLS13-095, PLS13-100 and PLS13-102 tested lines 225E, 240E, 300E, 450E and 480E of the R390E Zone. All holes intersected narrow to relatively wide zones of mineralization of varying degrees of radioactivity.

Drilling Highlights include:

  • Extend winter program east-northeast strike length of R390E zone by 400% to approximately 255m
  • PLS13-095 (line 300E) intersected 61.5m total composite mineralization within a 97.0m section (61.5m to 158.5m), including narrow intervals of off-scale
  • PLS13-102 (line 300E) intersected 59.0m total composite mineralization within a 93.0m section (93.0m to 186.0m), including narrow intervals of off-scale

Of additional interest were holes PLS13-091 and 093 which were drilled 10.0m to 30.0m further south of the prospective mineralized east-northeast corridor. The presence of mineralization in these locations increases the prospectivity of extending the zone laterally to the south along the entire length of the corridor as it becomes further delineated.

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

The R390E Zone has expanded rapidly since discovery and continues to do so. This latest round of results not only includes wide intervals of considerable radioactivity but it has greatly increased our understanding of the zone and where next to focus our attention. It remains open in all directions.”

R390E Zone:

The new holes represent shallow, very broad intervals of radioactivity and, importantly, extends the R390E Zone an additional 15m west and 45m east from previous delineation. The relevant geological features of the holes are as follows:

Line 225E: Two vertically collared holes were drilled on line 225E.

  • Drillhole PLS13-091 was collared as a vertical hole and drilled to a depth of 373.0m. The collar is located approximately 105m grid west and 30m grid south of hole PLS13-075. The hole was collared to test a radon anomaly that is coincident in both water and lake bottom sediment. Bedrock was encountered at 53.5m depth. A locally pegmatite rich quartzitic gneiss was encountered from 53.5m to 234.3m. From 234.3m to 373.0m (EOH) the lithology transitions to a dominantly pelitic gneiss with local mylonites. Two narrow intervals of weakly anomalous radioactivity were intersected between 258.0m to 272.5m (1.5m and 4.0m wide respectively) occurring within the pelitic gneiss. It is interpreted that this hole intersected the footwall pelitic sequence too deep to hit the stronger mineralization generally seen associated with the PL-3B corridor.
  • Drillhole PLS13-093 was collared as a vertical hole and drilled to a depth of 278.0m. Similar to hole 091, the drill hole was designed to test the radon in water and sediment anomaly present in this vicinity, but testing further up-dip to the north of the prospective pelitic corridor. Pelitic gneiss was encountered at the top of the basement at 50.4m, continuing to 171.1m, then transitioning to a semipelitic gneiss to 278.0m (EOH). Four narrow zones of anomalous weak to moderate radioactive mineralization were intersected in widths ranging from 0.50m to 5.0m, from 117.0m to 148.5m.

Both test holes on line 225E were drilled further south on the prospective corridor than have been previously tested. Both holes encountered anomalous radioactive mineralization. This increases the prospectivity of extending mineralization laterally to the south than previously done as future delineation drilling along the corridor is contemplated.

Holes PLS091 and PLS13-093 on line 225E were testing ~10.0m to 30.0m further south of the prospective mineralized east-northeast corridor, coincident with a subtle radon in water and a more pronounced radon in sediment anomaly. Both holes intersected narrow intervals of weak to locally moderate radioactivity. As mentioned, the occurrence of mineralization this far south increases the prospectivity of extending mineralization laterally to the south along the entire length of the corridor as it becomes delineated.

Line 300E: Two vertically collared holes were drilled on line 300E.

  • Drillhole PLS13-095 is located approximately 30m grid west from hole PLS13-075 (see news release July 29, 2013). Basement was intersected at 51.7m, comprising of a semipelitic gneiss to 61.8m. From 61.8m to 137.6m the lithology is dominantly a pelitic gneiss with alternating sequences of mylonites and cataclasites. Anomalous radioactivity begins at 61.5m coincident with the transition in lithology to a pelitic gneiss. A total composite of 63.5m of mineralization within a 97.0m section (61.5m to 158.5m) occurs in several variably radioactive mineralized intervals ranging in width from 1.5m to 33.0m. 2 narrow intervals of off-scale radioactivity were intersected (0.49m and 0.19m respectively).
  • Drillhole PLS13-102 was collared 15m south of hole 095. A broad zone of anomalous radioactive mineralization comprising of several intervals ranging in width of from 0.5m to 29.0m for a total composite of 65.0m was intersected over a 93.0m wide section (93.0m to 186.0m). The intervals are separated by barren sections in intervals from 2.0m to 6.0m wide. Two narrow intervals of off-scale radioactivity were intersected (0.24m and 0.1m wide respectively).

Line 315E:

  • Drillhole PLS13-087A was collared as a vertical hole and drilled to a depth of 227.0m. The collar is located approximately 15m grid west of PLS13-075. Basement was intersected at 50.9m, immediately below a narrow 0.9m wide veneer of Devonian sandstone. Lithology consists of a pelitic gneiss from 50.9m to 87.5m, and a semipelitic gneiss from 87.5m to 227.0m (EOH). Mineralization starts at the top of the basement and extends 0.4m into the overlying Devonian sandstone unit. A total composite of 44.5m of mineralization within a 68.5m section (50.5m to 119.0m) occurs in several variably radioactive mineralized intervals ranging in width from 1.0m to 17.0m, separated by barren intervals of 2.5m to 9.5m wide. A narrow occurrence of off-scale radioactivity (0.25m wide) was intersected at 74.08m depth.

Line 450E: Two vertically collared holes were drilled on line 450E.

  • Drillhole PLS13-094 is located approximately 15m grid east from hole PLS13-073 (see news release Sept 25, 2013) and drilled to a depth of 272.3m. Devonian sandstone was encountered from 50.7m to 53.4m. Basement was intersected at 53.4m, with a quartzitic gneiss from 53.4m to 103.6m. From 103.6m to 272.3m (EOH) the basement is comprised dominantly of a pelitic gneiss, with localized mylonites and pegmatite-rich sections. A total composite of 24.0m of mineralization within a 55.5m section (105.5m to 161.0m) occurs in several variably radioactive mineralized intervals ranging in width from 0.5m to 12.0m. A narrow (0.15m wide) interval of off-scale radioactivity was encountered at 131.35m.
  • Drillhole PLS13-100 was collared 10m grid north of hole PLS13-094. A broad zone of anomalous radioactive mineralization comprised of several mineralized intervals ranging in width of from 2.0m to 20.0m for a total composite of 57.5m of mineralization intersected over a 104.0m wide section (53.0m to 157.0m). The mineralized intervals are separated by barren sections in widths from 3.0m to 26.0m wide. Two narrow intervals of off-scale radioactivity were intersected (0.2m and 0.34m wide respectively).

Line 480E:

  • Drillhole PLS13-088 was collared as a vertical hole and completed to a depth of 296.0m. The collar is located approximately 30m grid east of PLS13-094. A broad 160.0m section (54.0m to 214.0m) hosts alternating mineralized and barren intervals with mineralized zones ranging from 0.5m to 23.5m separated by barren intervals ranging from 2.5m to 40.0m wide. A narrow interval (0.12m) of off-scale radioactivity was intersected at 148.77m. Devonian sandstone was intersected from 53.0m to 54.3m. Basement rocks consist of pelitic gneiss from 53.4m to 210.0m with several undifferentiated mylonite sequence throughout. The rock transitions into a semipelitic gneiss from 210.0m to 296.0m (EOH).
R390E
Collar * Hand-held Scintillomenter Results On Mineralized Drillcore
(>300 cps / >0.5M minimum)
Hole ID Grid
Line
Az Dip From
(m)
To
(m)
Width
(m)
CPS
Peak
Range
Sandstone
From –
To (m)
Basement
Unconformity
Depth (m)
Total
Drillhole
Depth (m)
PLS13-087A 315E 151 -85 50.5 55.5 5.0 <300 – 7100 50.0 – 50.9 50.9 227.0
58.0 62.0 4.0 305 – 630
68.5 83.0 14.5 <300 – >9999
85.5 88.5 3.0 <300 – 490
98.0 115.0 17.0 <300 – 2100
118.0 119.0 1.0 350 – 1200
PLS13-088 480E 82 -84 54.0 54.5 0.5 800 53.0 – 54.3 54.3 296.0
62.0 77.0 15.0 <300 – 1500
80.0 103.5 23.5 <300 – 9800
135.0 143.0 8.0 400 – 8100
148.5 149.5 1.0 440 – >9999
152.0 155.0 3.0 330 – 3800
158.5 159.0 0.5 390
162.5 168.0 5.5 360 – 3600
208.0 214.0 6.0 <300 – 3000
PLS13-091 225E 102 -89 258.0 259.5 1.5 380 – 620 No Sandstone 53.5 373.0
268.5 272.5 4.0 <300 – 1000
PLS13-093 225E 232 -86 117.0 118.0 1.0 360 – 420 No Sandstone 50.4 278.0
124.0 125.0 1.0 420 – 1100
134.5 139.5 5.0 <300 – 3300
148.0 148.5 0.5 340
PLS13-094 450E 216 -88 105.5 115.5 10.0 <300 – 2800 50.7 – 53.4 53.4 272.3
130.0 142.0 12.0 <300 – >9999
151.5 152.5 1.0 300 – 320
156.5 157.0 0.5 310
160.5 161.0 0.5 350
193.0 194.5 1.5 <300 – 450
PLS13-095 300E 37 -87 61.5 63.0 1.5 320 – 1000 47.6 – 51.7 51.7 275.0
68.0 79.5 11.5 <300 – >9999
93.5 100.5 7.0 <300 – >9999
104.5 111.5 7.0 <300 – 2000
116.0 149.0 33.0 <300 – 5800
155.0 158.5 3.5 <300 – 660
PLS13-100 450E 351 -86 53.0 59.0 6.0 790 – >9999 53.0 – 53.3 53.3 263.0
85.0 94.5 9.5 <300 – 4200
99.5 119.5 20.0 <300 – 8000
122.5 131.0 8.5 <300 – 1200
134.0 142.5 8.5 <300 – >9999
146.5 149.5 3.0 <300 – 420
155.0 157.0 2.0 880 – 3000
PLS13-102 300E 2 -89 93.0 98.0 5.0 <300 – 710 58.3 – 58.8 58.8 275.0
103.0 132.0 29.0 <300 – 6000
137.5 148.0 10.5 <300 – >9999
154.0 163.5 9.5 <300 – 5300
167.0 167.5 0.5 1000
171.5 175.5 4.0 850 – 8000
179.5 186.0 6.5 <300 – >9999
* Scintillometer Instrument: GR-110G

A $6.95M, 44 hole, 11,000m drill program and ground geophysics surveys continues at PLS.

Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using a hand held Exploranium GR-110G total count gamma-ray scintillometer. 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, core interval measurements and true thickness is yet to be determined.

All holes are planned to be radiometrically surveyed 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.

Split core samples from the mineralized section of core will be taken continuously through the mineralized intervals and submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon for analysis, which includes U3O8 (wt %) and fire assay for gold. All samples sent for analysis will include a 63 element ICP-OES, uranium by fluorimetry and boron. Assay results will be released when received.

Patterson Lake South Property

The 31,039 hectare PLS project is a 50%/50% Joint Venture held by Fission Uranium 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 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 R390E zone can be found on the Company’s website at https://www.fissionuranium.com/projects/patterson-lake-south-sk/.

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 potential spin-out and listing of Fission Uranium and 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.


Raj Shah

Editor:

Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>


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