Step-Out Drilling
Intersects High-Grade Radioactivity at PLN
High-Grade
Mineralization Expands Up-Dip and On-Strike
Kelowna, British Columbia - December 12, 2022
- InvestorsHub NewsWire -- FISSION 3.0
CORP (TSXV: FUU) (OTCQB: FISOF) ("Fission 3"
or "the
Company") is
pleased to announce the results of the second and third follow up
holes (PLN22-039 and PLN22-040 respectively), as well as an
additional fourth follow up hole (PLN22-041) to the new high-grade
discovery hole PLN22-035 at the A1 Conductor. Two of the three
holes intersected significant radioactivity; PLN22-040 along strike
from the discovery hole, and PLN22-041 up-dip from PLN22-038 (see
Press Releases Nov 21, 2022, and Nov 30, 2022). This completes the
PLN fall drill program on the Company's 100% owned Patterson Lake
North "PLN" project in the southwest Athabasca Basin region of
Saskatchewan, Canada. Drilling at A1 is scheduled to restart in
early January and a large drill program is being
planned.
Drilling Highlights
from follow up holes PLN22-039, PLN22-040 and
PLN22-041:
PLN22-040
was a 23 m step out targeting along strike
and grid south from discovery hole PLN22-035 and intersected the
radioactive structure over 11.5 m between 260.0 m and 278.0
m.
-
8.5 m
total composite mineralization
>300 cps
(between 260.0 m to 268.5 m),
including
2.5 m
of total composite mineralization
>10,000
cps
over a 3.0 m interval (between 261.0 m and
264.5 m) with a peak of 63,400 cps
at 262.5 m
-
1.0 m >300
cps (between 272.0 to 273.0)
and 2.0 m >300
cps (between 276.0 m to 278.0 m)
PLN22-041
intersected the radioactive structure up-dip
from PLN22-038 at a vertical depth of 200m.
-
12.0 m
continuous mineralization
>300 cps
(between 198.5 m to 210.5 m),
including
1.85 m
of total composite mineralization
>10,000
cps over a 5.25 m interval (between 204.5 to
209.75 m) with a peak of 18,800 cps
at 208.5 m
PLN22-039
was planned to target on section and 15 m
down-dip from the discovery hole PLN22-035. Unfortunately, due to
significant drill hole deviation the hole steepened excessively,
and the target was missed. A structure was intersected 42m down dip
from 274.5 m to 283.0 m. No anomalous radioactivity was
recorded.
Raymond Ashley, Vice President Exploration,
commented:
"We are very pleased that the follow up holes
continued to intersect strong radioactivity and the company has
begun to expand on the strong results from discovery hole PLN22-035
along strike, and up-dip towards the Athabasca Unconformity. These
initial drill holes into this new discovery will provide the
framework and basis for designing the upcoming winter 2023 drill
program to commence in early January."
Table 1: Drill Hole
Summary
Natural gamma radiation in the drill core
that is reported in this news release was measure in counts per
second (cps) using a handheld Radiation Solutions RS-125
spectrometer. The Company considers greater than 300 cps on the
spectrometer as anomalous, >10,000 cps as high grade and greater
than 65,535 cps as off-scale. 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 for the presence of radioactive
materials. All depth measurements reported are down-hole and true
thickness are yet to be determined. Samples from the drill core are
split in half on site and are standardized at 0.5 m lengths. One
half of the split sample will be submitted to SRC Geoanalytical
Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in
Saskatoon, SK. for lithogeochemical analysis using their "Uranium
Package".
Drill Hole Location Plan
Map:
Drill Hole Location Inset
Plan Map:
About Patterson Lake
North:
The Company's large 39,946-hectare 100% owned
Patterson Lake North property (PLN) is located just within the
south-western edge of the Athabasca Basin in proximity to Fission
Uranium's Triple R and NexGen Energy's Arrow high-grade world class
uranium deposits which is poised to become the next major area of
development for new uranium operations in northern Saskatchewan.
PLN is accessed by Provincial Highway 955, which transects the
property, and the new A1 uranium discovery is located 23km
northwest of Fission Uranium's Triple R deposit.
Qualified
Person:
The technical information in this news
release has been prepare in accordance with the Canadian regulatory
requirements set out in National Instrument 43-101 and approved on
behalf of the company by Raymond Ashley, P.Geo., Vice President of
Exploration of Fission 3.0 Corp., a Qualified Person. Mr. Ashley
has verified the data disclosed.
About Fission 3.0
Corp.:
Fission 3.0 is a uranium project generator
and exploration company, focusing on projects in the Athabasca
Basin, home to some of the world's largest high grade uranium
discovery. Fission currently has 16 projects in the Athabasca
Basin. Several of Fission 3's projects are near large uranium
discoveries, including Triple R, Arrow and Hurricane.
Forward Looking
Statements
This news release contains certain
forward-looking statements within the meaning of applicable
securities laws. All statements that are not historical facts,
including without limitation, statements regarding future
estimates, plans, programs, forecasts, projections, objectives,
assumptions, expectations or beliefs of future performance,
including statements regarding the suitability of the Properties
for mining exploration, future payments, issuance of shares and
work commitment funds, entry into of a definitive option agreement
respecting the Properties, are "forward-looking statements." These
forward-looking statements reflect the expectations or beliefs of
management of the Company based on information currently available
to it. Forward-looking statements are subject to a number of risks
and uncertainties, including those detailed from time to time in
filings made by the Company with securities regulatory authorities,
which may cause actual outcomes to differ materially from those
discussed in the forward-looking statements. These factors should
be considered carefully and readers are cautioned not to place
undue reliance on such forward-looking statements. The
forward-looking statements and information contained in this news
release are made as of the date hereof and the Company undertakes
no obligation to update publicly or revise any forward-looking
statements or information, whether as a result of new information,
future events or otherwise, unless so required by applicable
securities laws.
The TSX Venture Exchange and the Canadian Securities Exchange have
not reviewed, approved or disapproved the contents of this press
release, and do not accept responsibility for the adequacy or
accuracy of this release.
Fission 3.0 Corp.
Contact Information
Investor Relations
Telephone: 778 484 8030
Email: ir@fission3corp.com
ON BEHALF OF THE
BOARD
"Dev
Randhawa"
Dev Randhawa,
CEO
F3 Uranium (TSXV:FUU)
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