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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| TSXV:FCU | TSX Venture | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0 | - |
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FISSION URANIUM CORP. (TSX VENTURE:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) ("Fission"
or "the Company") is pleased to announce assay results from six drill-holes
drilled in the R780E zone and one hole drilled in the R1155E zone at its
Patterson Lake South (PLS) property in Saskatchewan's Athabasca Basin, Canada.
Of particular note is hole PLS14-181 (line 555E) from zone R780E, which returned
a composite assay result including 23.53% U3O8 over 4.0m within a wider interval
of 6.01% U3O8 over 17.5m. All six holes from zone R780E returned substantial
high-grade assays. These results highlight the strength of the central area of
the zone, just as the assays announced in NR July 2nd, 2014 underscore the
strength of the eastern section.
Stronger Intersection in R1155E zone: Of additional note is hole PLS14-190 (line
1155E) which returned multiple discrete uranium mineralized intervals. The
results include an assay high of 1.28% U3O8 (214.0m - 214.5m) within a composite
grade of 0.20% U3O8 over 8.0m (197.5m to 205.5m). Hole PLS14-190 was drilled
approximately 10m grid south of PLS13-103. These results are the strongest from
the R1155E zone to date. Importantly, this opens up the potential to discover
increased amounts and higher grades of mineralization from this area, including
further to the south and within the 75m gap separating the R780E and R1155E.
Assay Highlights
PLS14-181 (Line 555E)
-- 17.5m (148.0m to 165.5m) @ 6.01% U3O8, including:
-- 4.0m (154.0m to 158.0) @ 23.53% U3O8
PLS14-184 (Line 570E)
-- 14.5m (110.5m to 125.0m) @ 2.02% U3O8, including:
-- 2.0m (123.0m to 125.0m) @ 8.31% U3O8
-- 19.0m (158.5m to 177.5m) @ 1.65% U3O8, including:
-- 3.5m (174.0m to 177.5m) @ 4.45% U3O8
PLS14-172 (Line 825E)
-- 28.0m (86.0m to 114.0m) @ 2.10% U3O8, including:
-- 8.5m (95.0m to 103.5m) @ 5.88% U3O8
More assays pending: To date, assay results from 60 holes of the recent winter
program have now been released; results from 32 holes are pending.
Ross McElroy, President, COO, and Chief Geologist for Fission, commented,
"Excellent growth from the central part of the expansive high-grade, shallow
depth R780E zone and some very promising assays from hole PLS14-190 from the
R1155E zone which speaks to the strong potential to discover further
mineralization in the 75m gap between the R780E and R1155E zones."
Composited % U3O8 mineralized intervals are summarized in Tables 1 & 2 below.
Samples from the drill core are split in half sections on site. Where possible,
samples are standardized at 0.5m down-hole intervals. One-half of the split
sample is 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 remains on site for reference. All
analysis include a 63 element ICP-OES, uranium by fluorimetry and boron. All
depth measurements reported, including sample and interval widths are down-hole,
core interval measurements and true thickness are yet to be determined.
Table 1: R780E Zone
Composited Mineralized Intervals (Down-hole measurements)
----------------------------------------------------------------------------
Zone Hole ID Grid Line From (m) To (m) Interval (m) U3O8 (wt%)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
R780E PLS14-172 825E 86.00 114.00 28.00 2.10
95.00 103.50 8.50 5.88
121.50 127.00 5.50 0.08
131.50 142.50 11.00 0.23
145.50 149.50 4.00 0.16
154.00 154.50 0.50 0.06
163.50 164.00 0.50 0.06
168.00 186.00 18.00 0.54
178.00 182.50 4.50 1.62
189.00 189.50 0.50 0.24
199.00 200.00 1.00 2.12
224.00 234.00 10.00 0.60
236.50 237.50 1.00 0.15
240.50 244.00 3.50 0.09
-----------------------------------------------------------------------
PLS14-181 555E 89.50 90.00 0.50 0.05
118.00 145.50 27.50 0.46
132.50 141.50 9.00 1.00
148.00 165.50 17.50 6.01
154.00 158.00 4.00 23.53
171.50 177.00 5.50 0.27
203.00 203.50 0.50 0.22
-----------------------------------------------------------------------
PLS14-183 840E 95.50 103.50 8.00 0.07
109.00 127.00 18.00 0.14
130.50 138.00 7.50 0.12
147.00 157.50 10.50 0.21
170.00 170.50 0.50 0.07
176.50 190.00 13.50 0.66
182.50 188.00 5.50 1.22
193.50 197.00 3.50 1.63
199.50 204.00 4.50 0.16
207.50 208.00 0.50 0.05
213.00 219.50 6.50 1.10
226.50 228.00 1.50 0.05
235.00 236.50 1.50 0.21
244.00 250.00 6.00 0.48
247.50 249.50 2.00 1.11
263.00 263.50 0.50 0.50
-----------------------------------------------------------------------
PLS14-184 570E 54.50 55.00 0.50 0.24
93.50 95.00 1.50 0.87
110.50 125.00 14.50 2.02
123.00 125.00 2.00 8.31
128.00 129.50 1.50 0.57
136.00 138.00 2.00 7.66
150.00 152.00 2.00 1.72
158.50 177.50 19.00 1.65
174.00 177.50 3.50 4.45
198.00 204.00 6.00 0.06
216.50 217.00 0.50 0.07
219.50 221.50 2.00 0.10
226.50 230.50 4.00 0.05
-----------------------------------------------------------------------
PLS14-189 1080E 224.50 225.00 0.50 0.07
231.00 240.00 9.00 0.22
256.00 257.50 1.50 0.22
262.50 277.50 15.00 1.93
281.00 294.00 13.00 0.44
284.50 289.00 4.50 1.03
300.00 305.50 5.50 0.11
309.50 310.00 0.50 0.13
321.50 322.00 0.50 0.29
324.50 326.50 2.00 0.08
329.00 329.50 0.50 0.69
334.00 335.00 1.00 0.15
339.50 340.00 0.50 0.05
361.50 362.00 0.50 0.08
430.00 430.50 0.50 0.28
468.50 469.00 0.50 0.07
-----------------------------------------------------------------------
PLS14-191 720E 99.00 105.50 6.50 0.22
109.00 109.50 0.50 0.06
111.00 111.50 0.50 0.05
112.00 112.50 0.50 0.05
117.00 118.50 1.50 0.10
122.00 131.00 9.00 0.62
122.50 125.00 2.50 1.70
144.00 144.50 0.50 0.06
152.50 156.00 3.50 1.00
----------------------------------------------------------------------------
Composite Parameters
1. Minimum Thickness: 0.50m
2. Grade Cut-Off: 0.05 U3O8 (wt%)
3. Maximum Internal Dilution: 2.00m
Table 2: R1155E Zone
Composited Mineralized Intervals (Down-hole measurements)
----------------------------------------------------------------------------
Zone Hole ID Grid Line From (m) To (m) Interval (m) U3O8 (wt%)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
R1155E PLS14-190 1155E 184.00 184.50 0.50 0.08
191.50 194.00 2.50 0.14
197.50 205.50 8.00 0.20
211.00 214.50 3.50 0.33
347.50 348.50 1.00 0.17
359.00 364.50 5.50 0.10
----------------------------------------------------------------------------
Composite Parameters
1. Minimum Thickness: 0.50m
2. Grade Cut-Off: 0.05 U3O8 (wt%)
3. Maximum Internal Dilution: 2.00m
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.
Fission has received and released assay results on 60 holes from its winter 2014
drill program at PLS. 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, 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:
Fission Uranium Corp.
Rich Matthews
Investor Relations
TF: 877-868-8140
rich@fissionuranium.com
www.fissionuranium.com
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