FISSION URANIUM CORP. announces the results of 21 of its 22 regional drill hole program at its PLS (Patterson Lake South) property in Canada’s Athabasca Basin. Four new holes have discovered anomalous radioactivity on three new conductors in the PL Corridor and Far East target areas of PLS. This follows exploration hole, PLS14-255 (see NR August 11, 2014), also drilled on the Far East target area, which hit radioactivity 17km from the main PLS discovery where high-grade mineralization has been outlined along a 2.24km strike length. The remaining 17 regional holes encountered encouraging geological features but did not intersect significant radioactivity.
Another Three Holes Encounter Anomalous Results on Far East of PLS Property
- Significant anomalous radioactivity intersected by:
- Hole PLS14-260 (104A EM conductor)
- Holes PLS14-262 and PLS14-284 (105A EM conductor)
- PLS14-262 and PLS14-284 are approximately 14m and 25m respectively from hole PLS14-255 (105A EM Conductor), which recently intersected anomalous radioactivity of up to 2532 cps.
- Holes are located near the Fission 3.0/Brades Clearwater West project, approximately 17km south east of the main PLS discovery
One Exploration Hole Hits on PL Corridor of PLS Property
- Anomalous radioactivity intersected by:
- Hole PLS14-252 (1B EM Conductor) has intersected anomalous radioactivity on the PL Corridor,
- Hole is located approximately 750m east from the main discovery
Ross McElroy, President, COO, and Chief Geologist for Fission, commented,
“The regional exploration program has been a great success and we have three very clear target areas prioritized for aggressive follow up: The PL Corridor, the Far East where we recently hit anomalous radioactivity in hole PLS14-255 and the Forrest Lake Areas. With over 105 separate conductors, we have felt for some time that the prospectively of PLS goes beyond the incredible discovery we have already made. These regional drill results confirm that belief.”
PLS is one of the most exciting uranium discoveries made to date in Canada’s prolific Athabasca Basin, which hosts the richest producing uranium mines in the world. The discovery is driven by a highly skilled technical team and successful entrepreneurial management. After a series of corporate transactions, Fission Uranium consolidated 100% ownership of the PLS Property, which comprises 17 claims totaling 31,039 ha located on the southwest margin of the Athabasca Basin. The property is accessible by all-weather Highway 955 which continues north through the area of the UEX-AREVA Shea Creek discoveries to the past producing Cluff Lake uranium mine.
The PLS discovery is a basement hosted unconformity uranium deposit, characterized by shallow, high-grade mineralization in five separate zones trending for approximately 2.24 km in length. From west to east, these zones are; R600W, R00E, R780E, R1155E and R1620E. Up to and including the drilling from the winter 2014 program, 163 delineation holes have defined mineralization over a strike length of 1155m in the R00E and R780E zones, with 158 holes intersecting mineralization, for a 97% success hit ratio. Mineralization has exhibited high grades over exceptionally wide thicknesses, which remain wide open.