Fission: 7 Summer Angle Holes Hit Off Scale Widening Zone R780E North and South
05 August 2014 - 5:07PM
Marketwired Canada
FISSION URANIUM CORP. (TSX VENTURE:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) ("Fission"
or "the Company") is pleased to announce results from twelve new angled drill
holes of the summer drill program at its PLS property in Canada's Athabasca
Basin. Of particular note, the drill hole results show further widening of the
main PLS discovery to the north and south, east of line 780E. With PLS14-248
(line 825E) significantly expanding the high grade area approximately 40m to the
south and PLS14-237 (line 870E) and PLS14-236 (line 960E) expanding the
mineralized corridor approximately 50m the north, the potential of growth at PLS
is highly prospective.
All twelve holes returned wide mineralization, with seven holes returning
substantial intervals of greater than 10,000 cps radioactivity.
Of additional note is PLS14-248 (line 825E), an angled hole with a total of
106.2m composite mineralization, including 18.2m total composite "off-scale"
(greater than 10,000 cps) radioactivity within a 21.5m interval (146.5m -
168.0m). The hole has a total composite "off-scale" (greater than 10,000 cps) of
21.1m.
Drilling Highlights Include:
Hole PLS14-248 (line 825E)
-- 106.2m total composite mineralization (between 108.0m - 264.0m)
including:
-- 21.2m total composite mineralization of (greater than 10,000 cps)
radioactivity
Hole PLS14-243 (line 495E)
-- 77.0m total composite mineralization (between 82.0m - 240.0m) including:
-- 1.9m total composite mineralization of greater than 10,000 cps
radioactivity
Hole PLS14-240 (line 645E)
-- 77.0m total composite mineralization (between 81.5m - 230.0m) including:
-- 1.7m total composite mineralization of greater than 10,000 cps
radioactivity
Ross McElroy, President, COO, and Chief Geologist for Fission, commented,
"Today's results confirm a widening to the north and south in the
eastern half of the R780E zone - evidence of the continued strong growth
and potential of PLS."
As per news release July 28, 2014 Fission has replaced the GR-110
scintillometer, which measured a maximum of 9,999 cps (referred to as off-scale
in all previous PLS drill programs) with the RS-121 scintillometer, which
measures up to 65,535 cps for higher resolution readings of strongly anomalous
radioactivity.
----------------------------------------------------------------------------
Base-
ment
(i) Hand-held Scintillometer Sand- Uncon- Total
Results On Mineralized stone for- Drill-
Drillcore (greater than 300 From - mity hole
Hole cps / greater than 0.5M To Depth Depth
ID Zone Collar minimum) (m) (m) (m)
--------------------------------------------
CPS
Grid From To Width Peak
Line Az Dip (m) (m) (m) Range
----------------------------------------------------------------------------
PLS14- 55.8 -
231 R780E 420E 367 -68.7 69.0 71.0 2.0 380 - 510 56.8 56.8 275.0
less than
76.0 92.0 16.0 300 - 9600
116.5 120.0 3.5 320 - 800
198.0 199.0 1.0 300 - 600
----------------------------------------------------------------------------
PLS14- less than
232 R780E 285E 347 -69 133.0 139.0 6.0 300 - 1900 NA 51.1 345.0
less than
300 -
142.5 155.0 12.5 14000
less than
162.5 167.0 4.5 300 - 1900
less than
169.5 177.0 7.5 300 - 8100
192.0 192.5 0.5 360
279.0 281.0 2.0 320 - 940
----------------------------------------------------------------------------
PLS14-
233 R780E 600E 338 -71 165.0 165.5 0.5 420 NA 61.0 343.0
168.0 168.5 0.5 310
less than
209.0 212.5 3.5 300 - 1600
229.5 232.0 2.5 410 - 1200
237.5 238.0 0.5 320
----------------------------------------------------------------------------
PLS14- 58.4 -
235 R780E 555E 346 -70.9 91.0 91.5 0.5 490 58.8 58.8 302.3
105.0 105.5 0.5 380
135.5 136.0 0.5 330
158.5 163.0 4.5 390 - 890
165.5 166.5 1.0 350 - 380
less than
187.0 190.5 3.5 300 - 660
less than
210.0 212.5 2.5 300 - 400
less than
222.0 226.0 4.0 300 - 1500
228.5 229.0 0.5 360
260.0 260.5 0.5 310
----------------------------------------------------------------------------
PLS14- less than
236 R780E 960E 342 -66 110.5 112.5 2.0 300 - 460 NA 65.2 407.0
less than
116.5 129.0 12.5 300 - 4000
139.5 142.5 3.0 340 - 1000
170.5 172.0 1.5 350 - 490
less than
176.5 184.0 7.5 300 - 1900
less than
188.5 192.0 3.5 300 - 780
less than
199.0 224.5 25.5 300 - 7700
less than
231.0 237.5 6.5 300 - 5000
360 -
246.0 247.5 1.5 40000
262.0 262.5 0.5 320
less than
300 -
271.5 288.0 16.5 11000
less than
290.5 299.0 8.5 300 - 5400
less than
302.5 310.5 8.0 300 - 1100
323.0 323.5 0.5 640
----------------------------------------------------------------------------
PLS14- less than
237 R780E 870E 340 -69 68.5 84.0 15.5 300 - 2400 NA 63.3 377.0
less than
115.0 124.0 9.0 300 - 3000
less than
142.5 152.5 10.0 300 - 1000
155.0 156.0 1.0 460 - 600
less than
165.5 168.5 3.0 300 - 700
less than
179.0 186.5 7.5 300 - 730
less than
189.0 191.5 2.5 300 - 680
less than
300 -
231.0 255.0 24.0 15000
less than
257.5 268.5 11.0 300 - 6800
less than
272.0 279.5 7.5 300 - 7500
less than
284.5 288.0 3.5 300 - 520
292.0 292.5 0.5 450
less than
295.5 300.0 4.5 300 - 610
305.0 306.0 1.0 320 - 460
----------------------------------------------------------------------------
PLS14- less than
238 R780E 825E 340 -69 129.5 147.5 18.0 300 - 3200 NA 59.2 431.0
150.5 151.5 1.0 500 - 820
176.0 177.0 1.0 300 - 490
180.0 180.5 0.5 310
less than
184.0 197.5 13.5 300 - 2900
less than
200.0 221.0 21.0 300 - 7400
less than
234.5 236.5 2.0 300 - 700
less than
243.0 245.0 2.0 300 - 3000
less than
300 -
250.5 254.0 3.5 40000
290.0 290.5 0.5 370
299.5 301.0 1.5 330 - 500
less than
304.0 307.0 3.0 300 - 470
397.5 398.0 0.5 390
----------------------------------------------------------------------------
less than
PLS14- 300 - 58.0 -
240 R780E 645E 334 -70.4 81.5 126.5 45.0 36000 58.7 58.7 326.0
less than
142.0 145.0 3.0 300 - 430
1900 -
150.0 151.0 1.0 3900
460 -
157.0 159.0 2.0 33000
less than
164.5 167.0 2.5 300 - 2700
less than
169.0 172.0 3.0 300 - 5100
less than
178.5 180.0 1.5 300 - 370
less than
183.0 185.5 2.5 300 - 340
less than
204.0 219.0 15.0 300 - 7400
228.5 230.0 1.5 600 - 1000
----------------------------------------------------------------------------
PLS14-
242 R780E 870E 342 -69 96.0 96.5 0.5 370 NA 55.9 395.0
119.0 119.5 0.5 360
125.0 126.5 1.5 320 - 400
131.0 134.5 3.5 350 - 670
less than
143.0 156.5 13.5 300 - 700
less than
161.5 164.5 3.0 300 - 1200
171.0 171.5 0.5 460
less than
300 -
181.0 193.0 12.0 16000
196.0 196.5 0.5 310
200.5 201.5 1.0 320 - 330
less than
209.5 212.5 3.0 300 - 5900
less than
215.5 222.0 6.5 300 - 5200
less than
249.0 252.5 3.5 300 - 2300
less than
261.0 265.0 4.0 300 - 1200
273.5 275.0 1.5 380 - 1000
278.0 278.5 0.5 360
302.0 303.0 1.0 310 - 500
306.5 307.0 0.5 490
less than
310.0 312.5 2.5 300 - 1200
321.0 322.0 1.0 490 - 1400
337.0 337.5 0.5 450
342.0 342.5 0.5 350
----------------------------------------------------------------------------
PLS14- 56.4 -
243 R780E 495E 332 -66 82.0 83.0 1.0 330 - 350 57.1 57.1 356.0
less than
86.5 91.5 5.0 300 - 910
less than
94.5 97.5 3.0 300 - 1400
less than
300 -
101.5 122.0 20.5 54000
less than
300 -
125.0 135.0 10.0 27300
less than
137.5 151.0 13.5 300 - 6900
166.5 178.5 12.0 390 - 9200
179.0 190.0 11.0 350 - 5600
236.0 236.5 0.5 490
239.5 240.0 0.5 600
----------------------------------------------------------------------------
PLS14- 60.5 -
244 R780E 660E 336 -71.7 62.0 62.5 0.5 330 61.0 61.0 275.0
85.0 86.0 1.0 380 - 480
90.5 93.5 3.0 440 - 4600
less than
99.0 102.0 3.0 300 - 590
131.5 132.0 0.5 310
----------------------------------------------------------------------------
less than
PLS14- 300 -
248 R780E 825E 332 -70 108.0 177.5 69.5 62800 NA 59.4 452.0
less than
183.0 199.0 16.0 300 - 8300
less than
202.0 206.5 4.5 300 - 1200
540 -
209.8 210.5 0.7 27100
220.5 222.5 2.0 320 - 4000
less than
300 -
230.0 242.0 12.0 62300
251.5 252.0 0.5 350
263.5 264.0 0.5 3900
271.5 272.0 0.5 350
----------------------------------------------------------------------------
Natural gamma radiation in drill core that is reported in this news release was
measured in counts per second (cps) using a hand held RS-121 Scintillometer
manufactured by Radiation Solutions. 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.
Samples from the drill core will be split in half sections on site. Where
possible, samples will be standardized at 0.5m down-hole intervals. One-half of
the split sample will be sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC
17025: 2005 Accredited Facility) in Saskatoon, SK for analysis which includes
U3O8 (wt %) and fire assay for gold, while the other half will remain on site
for reference. Analysis will include a 63 element ICP-OES, uranium by
fluorimetry and boron.
All depth measurements reported, including radioactivity and mineralization
interval widths are down-hole, core interval measurements and true thickness are
yet to be determined.
PLS Mineralized Trend Summary
Uranium mineralization at PLS has been traced by core drilling over 2.24km 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
Electro-Magnetic (EM) Conductor.
Updated maps and files can be found on the Company's website at
http://fissionuranium.com/project/pls/.
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"
--------------------------------------------------
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:
Investor Relations
Rich Matthews
TF: 877-868-8140
rich@fissionuranium.com
www.fissionuranium.com
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