Fission Drills First of 90 Hole Program at PLS
20 Janeiro 2014 - 6:00AM
Marketwired
Fission Drills First of 90 Hole Program at PLS
Most Aggressive Drilling to Date $20M Program in 2014 to Expand
Zones and Test New Targets
KELOWNA, BRITISH COLUMBIA--(Marketwired - Jan 20, 2014) -
FISSION URANIUM CORP. (TSX-VENTURE:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU)
("Fission" or "the Company") is pleased to announce that a 90 hole
winter drill and geophysical program has commenced at their PLS
property in Saskatchewan's Athabasca Basin. Drilling at the
high-grade uranium discovery will focus on further delineating the
seven shallow-depth zones identified to date while working to
eliminate the gaps between the zones. In addition, 15% - 20% of the
drilling will test a number of particularly high priority targets
identified through geophysics and radon gas surveys. The winter
program will cost $12M and is part of the overall $20M Fission
currently expects to spend in 2014 on exploration at PLS.
This drill program will be the most aggressive the company has
implemented. The previous two programs enjoyed a mineralization hit
success ratio of over 86% with numerous high-grade assays and grew
PLS from a single discovery hole to seven zones on trend along a
strike length of 1.78km. All seven zones remain open in all
directions.
Ross McElroy, President, COO, and Chief Geologist for Fission,
commented,
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"The tremendous success of PLS drilling
date has not only given us seven shallow-depth mineralized zones
but also a solid understanding of the project's geology. While
growing and connecting the zones is our principle aim, our work
with radon and geophysics has given us a number of highly promising
targets that we will begin testing." |
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Key Technical Information
- 30,000m of drilling utilizing up to 5 diamond drill core
rigs.
- 80%- 85% of the drilling will be delineation-style: multiple
close-spaced drill holes testing outwards from the known locations
of mineralization to establish the width and strike of the main
mineralized trend, to grow the five identified high-grade zones
(R00E, R390E, R585E, R780E and R945E) and eliminate the distance
between them.
- 15% to 20% of the drilling will be exploration-style, testing
high priority electromagnetic (EM) conductors. These conductor
targets will be prioritized based on ground geophysics
interpretation and results of the radon survey (see news release
January 13, 2014).
- Drill targeting will also test for expansion to the east of
high-grade mineralization of the R945E towards the anomalously
mineralized R1155E, where mineralization is open to the east.
- The area remains highly prospective for several kilometers both
in the immediate area of known mineralization and along strike in
both the WSW and ENE directions.
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. An updated map showing the areas of
the proposed winter drill program at PLS can be found on the
Company's website at fissionuranium.com/project/pls/maps/dp/.
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.
Fission Uranium Corp.Rich MatthewsInvestor RelationsTF:
877-868-8140rich@fissionuranium.comwww.fissionuranium.com
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