ir@fissionuranium.com
www.fissionuranium.com
TSX SYMBOL: FCU
OTCQX SYMBOL: FCUUF
Drilling preparations underway with two rigs now on site
- Holster Target: Located on the northern side of the Patterson Lake Corridor and ~600m north of the R840W, this target will test an area where historical drilling intersected anomalous uranium and boron geochemistry within a strongly graphitic shear zone. Similar to the Pistol target, outlined below, drilling will test for deeper uranium mineralization along the east-west electromagnetic (EM) conductor where a sharp conductivity thickness gradient occurs coincident with an interpreted north-northeast cross cutting fault. One drillhole totaling 645m is currently planned to test the Holster target.
- Saloon Target: This target area is located ~5km to the southwest of the
Triple R deposit, where historic drilling by Fission in 2017 had encountered the most anomalous uranium concentrations on the PLS property outside of theTriple R deposit. In 2008, a single radon in water sample, collected from a small stream within the Saloon trend returned a highly anomalous radon in water value of 162 pCi/L. For comparison, the highest radon in water value recorded over theTriple R deposit was 14.4 pCi/L. Up to four holes in 1,915m are currently planned to test the Saloon target area. - Pistol Target: Located on the northern side of the Patterson Lake Corridor and ~450m northwest of the
Triple R's R780E zone, the target area was selected based on a coincident 400m long radon in water anomaly and a zone where the interpretation from an airborne geophysical survey suggests a similar signature and spatial relationship of NexGen's Arrow and Arrow South to the Pistol target and theTriple R deposit, respectively. Historic drilling in 2012 near the Pistol target intersected broad zones of anomalous uranium and pathfinder elements, including boron, up-dip of the target zone, which may be reflect mineralization at depth. Two holes in 1,600m will test this encouraging target. - East Extension: Located on the southern side of the Patterson Lake Corridor, the target area is ~1,100m east of the easternmost R1620E zone along the same EM conductor that hosts the
Triple R deposit. The nearest historical drillhole to this target is PLS14-152, a vertical hole located approximately 430m to the west. This drillhole intersected intense silicification overlying a thick sequence of unaltered graphitic shear zone. The conductivity gradient now being targeted is interpreted to be representative of hydrothermal alteration within that graphitic shear zone. One drillhole is planned at this target, with an estimated total of 330m. - Bridle & Saddle Targets: These target areas are located ~1.7km west and 2.5km west, respectively, of the R1515W zone, along trend of the
Triple R deposit. Prospective features present at both target areas include a northeast trending EM conductor that is crosscut by an interpreted north-northeast trending cross fault. Sharp conductivity gradients occur near the cross faults, and, as with drill targets outlined above, this conductivity thickness decrease is interpreted to reflect hydrothermal destruction of graphite, which may be associated with uranium mineralization. Three drillholes are planned at these targets, totaling 960m. - Far West Targets: These target areas are located ~3.8km and 4.4km west of the R1515W, along trend of the
Triple R deposit. Prospective features present at both of target areas include a northeast trending EM conductor that is crosscut by an interpreted north-northeast trending fault. No historic drilling has been conducted in this area and thus the target area is completely untested. Two drillholes are planned at these targets, totaling 630m.
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 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
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 use of proceeds of the Offering, and the future operating or financial performance of Fission and
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