Fission Discovers Multiple New Radon Anomalies at PLS; Completes Winter 2014 Regional Program
28 April 2014 - 5:00PM
Marketwired Canada
FISSION URANIUM CORP. (TSX VENTURE:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) ("Fission"
or "the Company") is pleased to announce the results of its final ten regional
exploration holes of the winter 2014 drill program as well as results of
radon-in-lake surveys at its 100% owned Patterson Lake South (PLS) property in
Canada's Athabasca Basin. The remaining holes, part of the regional exploration
drill program that identified the new R1620E zone (see NR dated March 21, 2014),
did not encounter new occurrences of significant radioactivity but have provided
encouraging data for use in upcoming drill programs. The Winter Radon in lake
water survey included coverage over parts of 15 discrete basement
electromagnetic (EM) conductor axis clustered in 4 separate high priority areas
(Area A, B, C and D). Preliminary analysis shows radon in water anomalies of
various intensity are present on all conductors surveyed.
Some of the radon anomalies are on the scale of intensity as the anomalies
associated with the PL-3B conductor at PLS that led to the discovery of
high-grade uranium mineralization in drill core in 2013. The 2013 radon survey
assisted targeting along the PL-3B conductor was a contributing factor in the
success of drill collar step outs as large as 465m at PLS.
Ross McElroy, President, COO, and Chief Geologist for Fission, commented,
"Mineralization to date at PLS has been discovered by drill testing
along just two basement EM conductors (PL-3B and PL-3C). Over 120 such
conductor axis have been identified by geophysics on this remarkable
property and we are highly encouraged by the strong results of this
survey. Given the ice conditions in some parts of Patterson and Forest
lakes during the Winter program, we were unable to drill test a number
of high priority geophysics and radon supported target areas. However,
these surveys will play an important role in targeting and
prioritizing new holes in future drill programs including the upcoming
Summer drill program."
The Winter 2014 regional drilling tested three EM conductors: PL-1B, PL-2C and
PL-3C. The discovery and expansion of the R1620E zone, via previously reported
holes PLS14-196 and PLS14-208 (see NR dated Mar 31, 2014 and Apr 24, 2014),
occurred while testing the PL-3C conductor. The results from the remaining holes
have encountered geology of significant interest to Fission and warrant follow
up.
Exploration Drilling
A total of 12 drill holes testing 3 separate parallel basement electromagnetic
(EM) conductors (PL-1B, PL-2C and PL-3C), were completed as part of the
exploration drill program, designed to explore for new occurrences of uranium
mineralization. Two of these holes, (PLS14-196 and PLS14-208) testing on the
PL-3C EM conductor, were successful in discovering a new zone of mineralization,
the R1620E zone, and were reported on previously (Mar 31, 2014 and Apr 24, 2014
respectively). Ten other holes tested the 3 conductors, and although no
anomalous radioactive mineralization was encountered, all drill holes
intersected sequences of pelitic gneiss (locally graphitic and sulphide-bearing)
and semipelitic gneiss which are considered important host rocks for high-grade
basement hosted uranium mineralization.
PL-1B Conductor:
The PL-1 trend of EM conductors defines the northern boundary of the geophysics
defined northern Patterson Lake Corridor (with the PL-3 series defining the
southern boundary of the corridor). The east-north-east trending PL-1 series of
EM conductors is approximately 6.1km long and consists of 3 defined conductors
on strike of each other. The PL-1B conductor is the middle discrete EM conductor
of the PL-1 series and has a strike length of approximately 3.1km. Three holes
tested an approximately 1.2km length of the PL-1B conductor.
PL-1B Conductor
----------------------------------------------------------------------------
(i) Hand-held
Scintillometer Results On Base-
Mineralized Drillcore ment Total
(greater than 300 cps / Sand- Uncon- Drill-
Collar greater than 0.5M minimum) stone formity hole
----------------------------------------------------------------------------
From
CPS -
Hole Grid From To Width Peak To Depth Depth
ID Zone Line Az Dip (m) (m) (m) Range (m) (m) (m)
----------------------------------------------------------------------------
PLS14- No Significant
188 PL-1B 450E 145 -84 Radioactivity NA 50.8 485.0
----------------------------------------------------------------------------
PLS14- No Significant
206 PL-1B 1665E 276 -87 Radioactivity NA 61.9 432.5
----------------------------------------------------------------------------
PLS14- No Significant
212 PL-1B 825E 97 -87 Radioactivity NA 59.0 341.0
----------------------------------------------------------------------------
PLS14-188 (line 450E) was collared as steeply dipping and completed to a depth
of 485.0m, intersecting bedrock at 50.8m. The collar was located approximately
30m north of PLS12-003 targeting the up-dip projection of a large chlorite and
clay altered fault zone encountered in PLS12-003. The hole cored moderately
chlorite and hematite altered pelitic gneiss to 433.0m transitioning to a
semipelitic gneiss to the end of the hole at 485.0m. The hole did not intersect
the same fault zone as PLS12-003, possibly suggesting the dip of the fault is to
the north rather than the south.
PLS14-206 (line 1665E) targeted a strong radon anomaly coincident with the PL-1B
conductor. The hole was collared as steeply dipping and completed to a depth of
432.5m, intersecting bedrock at 61.9m. From 61.9m to 350.5m the basement is
predominantly a pelitic gneiss, locally graphitic with sulphides and from 350.5m
to 432.5m predominantly a semipelitic gneiss. Moderate to strong chlorite
alteration was encountered from the top of the bedrock to 107.1m. A very large
fault zone was encountered from 278m to 334m within graphitic pelitic gneiss.
This target requires follow-up drilling.
PLS14-212 (line 825E) targeted a strong radon anomaly coincident with the PL-1B
conductor. The hole was collared as steeply dipping and completed to a depth of
341.0m, intersecting bedrock at 59.0m. From 59.0m to 317.6m the basement is
predominantly a pelitic gneiss locally graphitic with sulphides and from 317.6m
to 341.0m predominantly a semipelitic gneiss. Several centimeter size fault
zones from 12 degrees to 86 degrees to core axis were encountered between 64m to
195m.
PL-2C Conductor:
The PL-2 series of EM conductors are located in the middle of the geophysics
defined northern Patterson Lake Corridor. The PL-2 trend of EM conductors is
approximately 3km long and consists of 3 defined conductors on strike. The
western area of the PL-2 series consists of 2 EM conductors (PL-2A and PL-2B)
that are oblique (cross-cutting?) to the main east-north-east trend. The PL-2C
conductor is parallel to the dominant trend of the PL-1 and PL-3 series. PL-2C
has a strike length of approximately 2.3km. Four holes tested an approximately
1.9km length of the PL-2C conductor.
PL-2C Conductor
----------------------------------------------------------------------------
(i) Hand-held
Scintillometer Results On Base- Total
Mineralized Drillcore ment Drill
(greater than 300 cps / Sand- Uncon- -
Collar greater than 0.5M minimum) stone formity hole
----------------------------------------------------------------------------
From
CPS -
Hole Grid From To Width Peak To Depth Depth
ID Zone Line Az Dip (m) (m) (m) Range (m) (m) (m)
----------------------------------------------------------------------------
PLS14- No Significant
162 PL-2C 2460E 57 -90 Radioactivity NA 59.4 392.0
----------------------------------------------------------------------------
PLS14- No Significant
168 PL-2C 1200E 127 -87 Radioactivity NA 58.5 482.0
----------------------------------------------------------------------------
PLS14- No Significant
182 PL-2C 570E 304 -89 Radioactivity NA 53.6 374.0
----------------------------------------------------------------------------
PLS14- No Significant
202 PL-2C 570E 99 -87 Radioactivity NA 52.2 368.0
----------------------------------------------------------------------------
PLS14-162 (line 2460E) targeted the most intense part of a basement resistivity
low and at a conductive bright spot along the PL-2C conductor, close to an
interpreted NNE-SSW trending cross-fault. The hole was collared as a vertical
hole and completed at depth of 392.0m, intersecting bedrock at 59.4m. From 59.4m
to 298.9m, the basement is an alternating sequence of pelitic gneiss (locally
graphitic and sulphide bearing) and semipelitic gneiss and from 298.9m to 392.0m
predominantly a semipelitic gneiss. Narrow mylonitic intervals are present from
92.2m to 97.2m. Weak to locally moderate chlorite alteration is present
throughout, with occasional patches of hematitic alteration between 71.0m to
102.5m.
PLS14-168 (line 1200E) targeted a strong radon anomaly south of the PL-2C
conductor. The hole was collared as steeply dipping and completed to a depth of
482.0m, intersecting bedrock at 58.5m. From 58.5m to 446.2m the basement is
predominantly a pelitic gneiss (locally graphitic and sulphide bearing) with
occasional alternating sequences of semipelitic gneiss and from 446.2m to 482.0m
predominantly a pelitic granofel. Locally moderate to strong hematite alteration
was encountered from the top of the bedrock to 106.8m.
PLS14-182 (line 570E) tested the northern part of the strong paired
radon-in-water anomaly along and at the west end of the PL-2C conductor. The
hole was collared as steeply dipping and completed to a depth of 374.0m,
intersecting bedrock at 53.6m. Basement rocks consist of alternating sequences
of pelitic gneiss and semipelitic gneiss throughout. Moderately strong hematite
alteration is present from 55.0m to 64.9m.
PLS14-202 (line 570E) was a follow-up of PLS14-182 testing the southern part of
the strong paired radon in water anomaly approximately 30m south of the PL-2C
conductor axis. The hole was collared as steeply dipping and completed to a
depth of 368.0m, intersecting bedrock at 52.2m. Similar to hole PLS14-182 the
basement rocks consist of alternating sequences of pelitic gneiss and
semipelitic gneiss throughout. Moderately strong hematite alteration is present
from 94.7m to 100.2m and 119.3m to 121.1m.
PL-3C Conductor:
The PL-3 trend of EM conductors define the southern boundary of the northern
Patterson Lake Corridor (with the PL-1 trend defining the northern boundary of
the corridor). The east-north-east trending PL-3 series of EM conductors is
approximately 8.8km long and consists of 3 defined conductors on strike of each
other. The PL-3C conductor is the eastern discrete EM conductor of the PL-3
trend and has a strike length of approximately 1.3km. It is located
approximately 250m east of the PL-3B conductor (associated with most of the
mineralization discovered to date at PLS). Five holes tested an approximately
0.8km length of the PL-3C conductor, with anomalous radioactive mineralization
encountered in 2 holes (PLS14-196 and PLS14-208) previously reported.
PL-3C Conductor
----------------------------------------------------------------------------
(i) Hand-held
Scintillometer Results On Base- Total
Mineralized Drillcore ment Drill
(greater than 300 cps / Sand- Uncon- -
Collar greater than 0.5M minimum) stone formity hole
----------------------------------------------------------------------------
From
CPS -
Hole Grid From To Width Peak To Depth Depth
ID Zone Line Az Dip (m) (m) (m) Range (m) (m) (m)
----------------------------------------------------------------------------
PLS14- No Significant
152 PL-3C 2265E 147 -86 Radioactivity NA 60.9 359.0
----------------------------------------------------------------------------
PLS14- No Significant
154 PL-3C 2190E 276 -86 Radioactivity NA 59.7 401.0
----------------------------------------------------------------------------
PLS14- No Significant
176 PL-3C 1500E 23 -87 Radioactivity NA 61.3 359.0
----------------------------------------------------------------------------
PLS14-152 (line 2265E) targeted a weak radon anomaly which is offset from the
ground TDEM conductor axis roughly the same distance as mineralization at R00E.
The hole location is at a conductive bright spot along the PL-3C conductor and
near the most intense part of the basement resistivity low along this conductor.
PLS14-152 was a 10 m north step out of PLS13-040 which was interpreted to have
intersected the southern semi-pelite. The hole was collared as steeply dipping
and completed to a depth of 359.0m, intersecting bedrock at 60.9m. The hole
intersected a moderately clay/chlorite altered, strongly graphitic sulphide rich
pelitic gneiss and occasional mylonites over a 154.4 m interval (114.8m to
269.2m), flanked by a semipelite gneiss. In many respects, this is a similar
sequence of rock as seen associated with mineralization to the west.
PLS14-154 (line 2190E) was designed as a follow-up of holes PLS13-040 and
PLS13-057, coincident with a moderate radon anomaly which is off-set to the
north from the TDEM conductor axis. The hole was collared 15m grid north of
PLS13-040, which had displayed moderate to strong alteration at the top of the
bedrock. The hole was collared as steeply dipping and completed to a depth of
401.0m, intersecting bedrock at 59.7m. Basement rocks consist of an intercalated
sequence of graphitic pelitic gneiss, semipelitic gneiss and diabase. Numerous
narrow centrimetric size fault intervals oriented 5 degrees to 60 degrees to
core axis is present from 63m to 94m.
PLS14-176 (line 1500E) targeted a moderate radon in water anomaly located on the
north side of the PL-3C conductor axis at its western end. The hole was collared
as steeply dipping and completed to a depth of 359.0m, intersecting bedrock at
61.3m. Basement rocks consist of an intercalated sequence of graphitic pelitic
gneiss and semipelitic gneiss throughout. Numerous narrow centrimetric size
fault intervals oriented 7 degrees to 50 degrees to core axis are present from
64m to 106m.
Key Technical Information for the Radon Survey
The radon in water survey followed up on 15 discrete geophysics-identified time
domain electromagnetic (TDEM) basement conductors in 4 high priority areas
(Areas A, B C and D). Fission's use of Radon Ex's lake bottom radon sampling
survey, where the survey is conducted in the winter beneath the lake ice over
known EM conductor axis), has shown to be an important layer of information to
be used in identifying areas reflective of nearby radioactive source anomalies
in bedrock. Analysis of these results were useful in assisting drill targeting
during the 2013 drill programs at PLS.
The EIC (Electret Ionization Chamber) survey to measure samples of radon in lake
beneath the surface ice was conducted by RadonEx Exploration Management, of St
Lazare, Quebec. The survey comprised primarily samples of measurements of radon
in water.
Area A
Area A covers a 1.517 sq. km area which includes a group of 4 discrete and
parallel east-north-east trending EM conductors with 5 km total conductor length
covered, including the PL3B conductor (which is associated with the high-grade
"R" zones). The 2013 survey area covered the PL-3B and PL-3C conductor axis. The
winter 2014 survey covered the remaining 2 parallel EM conductors (PL-1B and
PL-2C).
The sample grid was based on 30m to 60m line spacing with 20m sample spacing. A
total of 848 radon in water samples were collected and included 27 repeat sample
locations. 3 x two-point anomalies (1 at 2400 sq m and 2 at 1200 sq m areas) and
11 x one-point anomalies (8 at 1200 sq m, 1 at 900 sq m and 2 at 600 sq m) were
identified. These are in addition to the 6 anomalies identified in 2013 which
included 5 x one-point anomalies (2400 sq m each) and 1 x 3 point anomaly (3600
sq m).
Area B
Area B is located approximately 2 to 3km north-east of Area A. Area B covers a
0.34 sq. km area which includes two northeast trending EM conductor with 1.5 km
total conductor length covered.
The sample grid was based on 60m line spacing with 20m sample spacing. A total
of 256 radon in water and 26 radon in sediment samples were collected. 5 x
one-point anomalies, covering 1200 sq m each were identified.
Area C
Area C is located approximately 1.5km to the south of Area A. Area C covers a
0.412 sq. km area which includes a group of 4 discrete and parallel
east-north-east trending EM conductors with 1.46 km total conductor length
covered.
The sample grid was based on 60m to 120m line spacing with 20m sample spacing. A
total of 281 radon in water and 36 radon in sediment samples were collected. A
number of anomalies were identified: 1 x five-point anomaly (6200 sq m), 1 x
two-point anomaly (2400 sq m) and 7 x one-point anomalies (1200 sq m each).
Area D
Area D is located approximately 5km to the southeast of Area C in the Forest
Lake corridor. Area D covers a 2.815 sq. km area which includes a group of 14
east-northeast trending parallel discrete conductor segments with 4.6 km total
conductor length covered.
The sample grid was based on 30m to 60m line spacing with 20m sample spacing. A
total of 1225 radon in water samples were collected and included 27 repeat
sample locations. Nine x one-point anomalies (1200 sq m each).
Fission has now completed the Winter 2014 exploration program with a total of
35,198m in 92 completed holes (105 holes were pre-collared by the RC drill)
using 5 diamond drills and 2 RC drills for pre-collaring; 80 holes (87%) were
designed as delineation holes on the main mineralized trend and 12 holes (13%)
were designed as exploration holes with the objective to discover new
mineralized occurrences.
Updated maps and files can be found on the Company's website at
http://fissionuranium.com/project/pls/maps/
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 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.
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 exploration and development of the Patterson Lake South uranium
property 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Fission Uranium Corp.
Rich Matthews
Investor Relations
TF: 877-868-8140
rich@fissionuranium.com
www.fissionuranium.com
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