Mr. Ross McElroy reports
FISSION HITS 10.35% U3O8 OVER 14.0M (LINE 705E); POTENTIAL TO CONNECT ZONES INCREASES
Fission Uranium Corp. has released assay results from eight holes drilled at its Patterson Lake South (PLS) property in Saskatchewan's Athabasca basin, Canada. Of particular note are holes PLS14-200 (line 675E), which returned composited assay intervals including 9.34 per cent triuranium octoxide (U3O8) over 10.0 m and 26.32 per cent U3O8 over one m within an interval of 3.78 per cent U3O8 over 49.0 m, and PLS14-198 (line 705E), which returned composited assay intervals of 10.35 per cent U3O8 over 14.0 m within a larger interval of 3.96 per cent U3O8 over 40.0 m. Six holes of the eight holes returned substantial high-grade assays and all eight holes intersected wide mineralization.
Eastern extent of the R780E zone and growth potential
PLS14-199 and PLS14-189 (15.0 m at 1.93 per cent U3O8 -- see news release dated July 14, 2014) represent the current easternmost defined mineralization of the R780E zone. With multiple mineralized intervals in both holes and the substantial widths and grades encountered, the potential growth of the R780E zone east of line 1080E is strong. R780E currently has a strike length of approximately 855 m. Viewed in the context of mineralization reported from hole PLS14-190 from the R1155E zone (see news release dated July 14, 2014), this opens up the potential to discover mineralization within the 75 m gap separating the R780E and R1155E thus possibly connecting the two zones.
Assay highlights
PLS14-200 (line 675E)
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49.0 m (109.5 m to 158.5 m) at 3.78 per cent U3O8, including:
- 10.0 m (116.5 m to 126.5 m) at 9.34 per cent U3O8;
- One m (130.5 m to 131.5 m) at 26.32 per cent U3O8;
- 3.5 m (135.5 m to 139.0 m) at 9.0 per cent U3O8.
PLS14-197 (line 675E)
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25.5 m (102.5 m to 128.0 m) at 5.34 per cent U3O8, including:
- Five m (111.0 m to 116.0 m) at 15.81 per cent U3O8;
- Four m (121.0 m to 125.0 m) at 8.40 per cent U3O8.
- 13.0 m (157.0 m to 170.0 m) at 2.61 per cent U3O8, including:
- 1.5 m (164.0 m to 165.5 m) at 20.04 per cent U3O8.
PLS14-198 (Line 705E)
- 40.0 m (95.0 m to 135.0 m) at 3.96 per cent U3O8, including:
- 14.0 m (113.0 m to 127.0 m) at 10.35 per cent U3O8.
More winter assays pending
To date, assay results from 68 holes of the recent winter program have now been released; results from 24 holes are pending.
Ross McElroy, president, chief operating officer and chief geologist for Fission, commented:
"We continue to see strong grades and widths from the eastern section of the R780E zone -- similar to prior results from the central and western sections. The eastern boundary of the R780E zone is just 75 m along strike from the R1155E zone. In the same way that the winter program succeeded in merging four high-grade zones into one, so we are now seeing increased potential for connecting R780E with R1155E."
Composited U3O8-mineralized intervals are summarized in the associated table. Samples from the drill core are split in half sections on-site. Where possible, samples are standardized at 0.5 m downhole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005-accredited facility) in Saskatoon, Sask., for analysis which includes U3O8 and fire assay for gold, while the other half remains on-site for reference. All analysis include a 63-element ICP-OES, uranium by fluorimetry and boron. All depth measurements reported, including sample and interval widths are downhole, core interval measurements and true thickness are yet to be determined.
R780E ZONE COMPOSITED MINERALIZED INTERVALS (DOWNHOLE MEASUREMENTS)
From To Interval U3O8
Hole ID (m) (m) (m) (wt %)
PLS14-192 94.00 102.50 8.50 0.09
105.00 107.00 2.00 0.07
110.00 161.00 51.00 0.53
138.00 143.50 5.50 2.36
166.50 169.50 3.00 0.06
173.00 174.00 1.00 0.06
178.00 178.50 0.50 0.08
191.50 204.00 12.50 0.48
195.50 199.50 4.00 1.27
207.00 209.50 2.50 0.15
214.00 219.50 5.50 0.19
PLS14-193 126.00 132.00 6.00 0.28
135.00 140.00 5.00 0.11
162.00 164.00 2.00 1.62
166.50 167.50 1.00 0.07
170.50 171.50 1.00 0.45
175.00 176.00 1.00 0.12
179.00 179.50 0.50 0.15
186.00 186.50 0.50 0.66
PLS14-194 187.00 189.50 2.50 0.86
247.50 258.50 11.00 0.34
262.00 262.50 0.50 0.06
304.00 304.50 0.50 0.05
309.00 311.00 2.00 0.10
335.50 336.00 0.50 0.12
PLS14-195 90.50 92.50 2.00 0.22
117.50 118.00 0.50 0.06
120.00 120.50 0.50 0.06
124.00 124.50 0.50 0.06
141.50 142.00 0.50 0.16
151.00 155.00 4.00 0.05
159.50 160.00 0.50 0.06
201.00 206.00 5.00 0.20
210.50 214.00 3.50 0.07
244.00 248.50 4.50 0.64
247.50 248.50 1.00 2.81
266.00 277.00 11.00 0.09
283.00 284.50 1.50 0.07
293.00 293.50 0.50 0.06
298.50 299.00 0.50 0.10
301.50 303.00 1.50 0.18
354.50 355.00 0.50 0.05
PLS14-197 87.50 95.50 8.00 0.81
93.50 95.00 1.50 3.65
102.50 128.00 25.50 5.34
111.00 116.00 5.00 15.81
121.00 125.00 4.00 8.40
151.00 154.50 3.50 1.24
157.00 170.00 13.00 2.61
164.00 165.50 1.50 20.04
175.50 178.00 2.50 2.17
182.50 183.00 0.50 0.22
197.00 197.50 0.50 0.07
198.50 199.00 0.50 0.05
PLS14-198 83.50 85.50 2.00 0.19
95.00 135.00 40.00 3.96
113.00 127.00 14.00 10.35
147.00 148.50 1.50 0.08
153.00 156.00 3.00 0.51
163.00 163.50 0.50 0.06
173.50 177.00 3.50 0.12
239.50 240.00 0.50 0.05
374.00 375.00 1.00 0.26
PLS14-199 209.00 215.50 6.50 0.11
218.00 224.50 6.50 0.13
233.50 244.00 10.50 0.42
241.00 242.00 1.00 3.07
247.00 249.00 2.00 0.13
255.50 257.00 1.50 0.09
267.00 267.50 0.50 0.18
282.50 291.50 9.00 0.22
295.50 300.50 5.00 0.16
334.00 338.00 4.00 0.09
380.50 382.00 1.50 0.19
414.00 415.00 1.00 0.09
PLS14-200 74.00 78.00 4.00 0.11
109.50 158.50 49.00 3.78
116.50 126.50 10.00 9.34
130.50 131.50 1.00 26.32
135.50 139.00 3.50 9.00
170.50 171.00 0.50 0.15
178.50 184.00 5.50 0.06
193.00 194.50 1.50 0.11
197.50 206.00 8.50 0.21
208.50 211.50 3.00 0.22
215.50 217.00 1.50 0.20
221.00 226.00 5.00 1.16
Composite parameters
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Minimum thickness: 0.50 m;
- Grade cut-off: 0.05 per cent U3O8;
- Maximum internal dilution: two m.
PLS mineralized trend summary
Uranium mineralization at PLS has been traced by core drilling over 2.24 kilometres of east-west strike length in five separate mineralized zones from line 615W (PLS13-124) to line 1620E (PLS14-196). From west to east, these zones are: R600W, R00E, R780E, R1155E and R1620E. The former R390E, R585 and R945E zones have been merged into the R780E zone by successful winter drilling. Mineralization remains open along strike both to the western and eastern extents. Mineralization is both located within and associated with a metasedimentary lithologic corridor, bounded to the south by the PL-3B basement electromagnetic (EM) conductor.
Fission has received and released assay results on 68 holes from its winter 2014 drill program at PLS. Updated maps and files can be found on the company's website.
Patterson Lake South property
The 31,039-hectare PLS project is 100 per cent owned and operated by Fission Uranium. 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 50 km 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, PGeol, president and chief operating officer for Fission Uranium, a qualified person.
We seek Safe Harbor.
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