ir@fissionuranium.com
www.fissionuranium.com
TSX SYMBOL: FCU
OTCQX SYMBOL: FCUUF
Regional exploration and R1515W zone drilling to carried out concurrently
Saloon Target (5 holes). Located 4.8 km southwest of
Pistol Target (4 holes). Drilling at the Pistol target area, 350m north of the R780E zone, will follow up on a series of stacked graphitic shear zones, wet rock style alteration, rose quartz and dravite intersected in winter 2024 drilling. These geologic features are interpreted to have a close spatial relationship with uranium mineralization at NexGen's Arrow deposit to the northeast and have not been identified at the Pistol target area in previous drilling.
East Extension Target (3 holes). The target area lies 1 km east of the R1620E zone. The aim is to extend the zone of anomalous radioactivity cored in all seven winter 2024 drillholes at this target area. The graphitic shear zone which hosts the radioactivity at East Extension is interpreted to be the eastern continuation of the mineralized corridor that hosts all of the
Saddle Target Area (3 holes). Situated 3.7 km west of the R1515W zone. Drilling will follow up on encouraging geology intersected in PLS24-649, including silicified hanging wall, underlain by a thick sequence of graphite, chlorite, clay and hematite altered gneissic rocks, which is interpreted to be equivalent to the
Drilling at the R1515W zone will consist of 19 drillholes totaling 5,830m. The R1515W zone contains an Indicated Resource of 67,000 tonnes at an average grade of 1.15% U3O8 totaling 1.7 million lb U3O8 and an Inferred Resource of 234,000 tonnes at an average grade of 0.96% U3O8 totaling 5 million lb. U3O8, using a cutoff grade of 0.25% U3O8. The objective of R1515W drilling will be to convert areas of the R1515W zone currently classified as Inferred Resources to Indicated Resources through closely spaced drilling, potentially allowing it to be brought into the current mine plan. Planned drillhole pierce point spacing at the R1515W zone to upgrade the resource classification will be approximately 25m by 15m, grid north-south by grid east-west, respectively. Additionally, critical geotechnical and hydrogeological information will be collected at the R1515W zone, to be used in the assessment of viability of inclusion in the overall PLS project mine plan and schedule.
Map 1: Patterson Lake South 2024 Summer Proposed Diamond Drill Program
Uranium mineralization of the
The R1515W, R840W and R00E zones make up the western region of the
Mineralization along the Patterson Lake Corridor trend remains prospective along strike in both the western and eastern directions. Basement rocks within the mineralized trend are identified primarily as mafic rocks with varying degrees of alteration. Mineralization is both located within and associated with mafic intrusives with varying degrees of silicification, metasomatic mineral assemblages and hydrothermal graphite. The graphitic sequences are associated with the PL-3B basement Electro-Magnetic (EM) conductor.
The 31,039-hectare PLS project is 100% owned and operated by
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
ON BEHALF OF THE BOARD
"Ross McElroy"
______________________________
Ross McElroy, President and CEO
www.fissionuranium.com
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 the Company 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.sedarplus.ca. The forward-looking statements included in this press release are made as of the date of this press release and the Company disclaims 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.
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