KELOWNA, BRITISH COLUMBIA--(Marketwired - Sept. 12, 2013) - FISSION URANIUM CORP. (TSX VENTURE:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) ("Fission" or "the Company"), the Operator, and its Joint Venture partner Alpha Minerals Inc. are pleased to announce the results from two new mineralized holes from the R780E Zone at its Patterson Lake South (PLS) property in the Athabasca Basin, Saskatchewan. Of particular note is PLS13-082, located 15m east and 10m north of hole PLS13-080 (13.41m of total composite off-scale…see August 12, 2013 news release) which returned 4.7m total composite off-scale (>9999 cps) mineralization, in 54m mineralization.
Drilling Highlights include:
- PLS13-082: Multiple intervals of weak to strongly radioactive mineralization within 120m section (118.5m to 238.5m) in widths ranging from 1.0m to 35.0m including:
- 35m of weak to strong continuous mineralization (146.5m to 185.5m), including:
- 4.7m total composite off-scale radioactivity
Ross McElroy, President, COO, and Chief Geologist for Fission, commented,
"Zone 780E continues to develop as does its potential as a high-grade zone. Of these results, hole PLS13-082 is particularly interesting as its location and level of mineralization has significantly enhanced our understanding of how and where this zone may be expanding."
The R780E zone discovery was the result of follow-up by drilling of a radon in water anomaly identified during the January - February 2013 survey. The radon anomaly is on trend to the E-NE from the R00E and R390E zones, and is situated within a resistivity low corridor proximal to an inferred north-south cross cutting structure.
Hole PLS13-082 (line 795E) was collared as a vertical hole and completed to a depth of 380.0m. The hole is collared 15m grid east of hole PLS13-060 (which intersected multiple zones of basement mineralization including 7.0m @ 1.22% U3O8 (see news release June 5, 2013). The hole is located to the east of a north-south fault as interpreted from resistivity geophysical data. Multiple zones of mineralization were intersected in the basement lithology within a 120.0m section between 118.5m - 238.5m, ranging in width from 1.0m to 35.0m. The main interval of mineralization is over a width of 35.0m (146.5m - 181.5m) which is characterized by variably weak to strong radioactivity throughout, with occasional narrow intervals. A total composite of 4.7m of "off-scale" (>9999 cps) radioactivity is present in several discrete intervals ranging in width from 0.2 to 3.0m. The top of the basement was encountered at 55.3m depth. From 55.3m - 150.3m the rocks consist primarily of a moderately to steeply dipping foliated quartzitic gneiss. From 150.3m - 214.7m the rocks comprise of generally steeply dipping and strongly foliated alternating sequences of quartzitic and pelitic gneiss. From 214.7m to 380.0m (EOH) the basement rock transitions into a primarily pelitic gneiss, locally sulphide bearing from 256.5m to 338.0m. Downhole surveys show the hole trace to have deviated to approx. -86 degrees to the south resulting in the mineralized intervals intersected approximately 15m south of the collar.
Hole PLS13-089 (line 765E) was collared as a vertical hole and completed to a depth of 393.0m. The hole is collared 15m grid west of hole PLS13-080, which intersected multiple zones of basement mineralization including a 48.5m (122.5m - 171.0m) wide broad zone of variable radioactivity from weak-to-strong comprised of 4 intervals each separated by narrow intervals of barren rock (1.5m - 2.5m wide...see news release August 12, 2013). Multiple zones of generally weak to moderately radioactive mineralization, ranging in widths from 0.5m to 16.5m wide, were intersected in the basement lithology within a 126.5m section between 97.5m - 224.0m. A narrow interval of off-scale (>9999 cps) radioactivity was encountered in a narrow 1.5m wide zone (179.5m to 181.0m). The top of the basement rocks were encountered at 54.2m depth. Basement rocks from 54.2m to 393.0m (EOH) consist primarily of alternating quartzitic and pelitic gneiss. Downhole surveys show the hole to have deviated significantly to the southeast resulting in the mineralized intersection being intersected several meters to the south of the mineralization in hole PLS13-080 rather than a test on strike to the west as intended.
|** Hole Location||* Hand-held Scintillometer Results On Mineralized Drillcore (>300 cps / >0.5M minimum)||Sandstone||Basement Uncon-formity||Total Drill-hole|
|Hole ID||Grid Line||Az||Dip||From (m)||To (m)||Width (m)||CPS Peak Range||From - To (m)||Depth (m)||Depth (m)|
|PLS13-082||795E||188||-86||118.5||126.0||7.5||<300 - 500||No Sandstone||55.3||380.0|
|141.0||144.5||3.5||<300 - 820|
|146.5||181.5||35.0||<300 - >9999|
|217.0||218.5||1.5||<300 - 1200|
|223.0||224.0||1.0||630 - 3100|
|228.5||232.5||4.0||<300 - 1500|
|237.0||238.5||1.5||1000 - 4200|
|108.0||114.5||6.5||<300 - 980|
|131.0||132.0||1.0||300 - 570|
|142.5||147.5||5.0||<300 - 1800|
|150.0||166.5||16.5||<300 - 3200|
|169.5||170.5||1.0||770 - 3200|
|179.5||181.0||1.5||740 - >9999|
|198.5||206.5||8.0||<300 - 6500|
|223.0||224.0||1.0||600 - 1300|
|311.5||313.5||2.0||<300 - 490|
|*Scintillometer Instrument: GR-110G|
|**Azi / Dip at 50m Depth|
A $6.95M, 44 hole, 11,000m drill program and ground geophysics surveys continues at PLS.
Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using a hand held Exploranium GR-110G total count gamma-ray scintillometer. 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 of the presence of radioactive materials. The degree of radioactivity within the mineralized intervals is highly variable and associated with visible pitchblende mineralization. All intersections are down-hole, core interval measurements and true thickness is yet to be determined.
All holes are planned to be radiometrically surveyed using a Mount Sopris 2GHF-1000 Triple Gamma probe, which allows for more accurate measurements in high grade mineralized zones. The Triple Gamma probe is preferred in zones of high grade mineralization.
Split core samples from the mineralized section of core will be taken continuously through the mineralized intervals and submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon for analysis, which includes U3O8 (wt %) and fire assay for gold. All samples sent for analysis will include a 63 element ICP-OES, uranium by fluorimetry and boron. Assay results will be released when received.
Patterson Lake South Property
The 31,039 hectare PLS project is a 50%/50% Joint Venture held by Fission Uranium Corp. and Alpha Minerals Inc (AMW). Fission is the Operator. 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. Updated maps and scintillometer table for the R780E zone can be found on the Company's website at https://www.fissionuranium.com/projects/patterson-lake-south-sk/.
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 acquisition, exploration and development of uranium properties 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
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