4.7m Total Composite Off-scale as Fission Expands Zone 780E

FISSION URANIUM CORP. (“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.” 

 

R780E Zone:

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 ~-86˚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.

R780E

 

** Hole Location

* Hand-held Scintillomenter Results On Mineralized Drillcore (>300 cps / >0.5M minimum)

Sandstone

Basement Unconformity

Total Drillhole

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

     

PLS13-089

765E

117

-83

97.5

98.0

0.5

2500

No Sandstone

54.2

393.0

       

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”                                                    

                                                 

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 potential spin-out and listing of Fission Uranium and 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.

ON BEHALF OF THE BOARD

"Ross McElroy"
Ross McElroy, President & COO

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. FISSION URANIUM CORP. Common Shares are listed on the TSX Venture Exchange under the symbol "FCU".

This press release contains "forward-looking information" that is based on Fission Uranium Corp's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Fission Uranium Corp's development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Fission Uranium Corp's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Fission Uranium Corp. disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Investor Relations
Rich Matthews
TF: 877-868-8140
ir@fissionuranium.com
www.fissionuranium.com