FISSION ENERGY CORP. (“Fission” or the “Company”), completed a detailed airborne geophysical survey on the Joint Venture claims held 50% – 50% with ESO Uranium Corp. (TSX-V: ESO), on its Patterson Lake South area S.W. Athabasca Basin in October, 2009. Staking of a new uranium target has been completed.
The results indicate a strong, 900 meter long train of radioactive boulders extending southwards off the original 12,500 hectare (30,800 acres) claim block. The boulder train runs south from a coincident radon soils anomaly (identified in earlier work completed by CanOxy Petroleum Ltd) that is centered over an extension of the Patterson conductor corridor that appears to have been disrupted by cross cutting structures.
Additional ground has just been staked to cover this area following the gazetting of the opening of Crown Reserve Land for staking on April 1st 2010. This allowed the new staking, which has added approximately 1004 hectares (2,480 acres) to the Joint Venture claim block.
This most recent airborne survey covered targets selected from earlier airborne and ground surveys which identified a corridor of conductors extending from the SSW trending Patterson Corridor on the adjacent Purepoint Uranium Inc – Cameco Joint Venture claims. State of the art radiometric and high resolution aeromagnetic surveys were flown on a 50 meter line spacing, with an average magnetometer sensor altitude of 17 meters, by Special Projects Inc of Calgary, Alberta.
The radiometric anomaly that extends south of the original claim boundary is flanked by three lake sediment samples with anomalous pathfinder minerals that are typical of Athabasca Basin uranium deposit associations; significant cobalt, nickel, arsenic values (up to 35, 77, and 12 ppm respectively) and modest uranium values (up to 3.5 ppm) are reported in work completed by Geological Survey of Canada (1976). This suggests a source in bedrock close to the surface. The area of interest is probably outside the cover of the Athabasca sediments and in an area where a shallow (0-150 meters) cover of Prairie sedimentary basin rocks on laps the Archaean basement rocks.
Potential targets here are a shallow Roughrider Zone type (McMahon Lake) deposit, which is a high grade, basement hosted uranium source, or a roll front type deposit in permeable sandstones of the Prairie sedimentary package. Further work will be planned following compilation of the data and full review of the results. The area is accessible by road as the property is intersected by all weather Highway 955 which runs North to the Cluff Lake mine, a former producer (>60,000,000 lbs of U3O8), and passes through the area of the UEX-Areva Shea Creek discoveries, currently being developed to the South of Cluff Lake.
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 Energy Corp., a qualified person.
ON BEHALF OF THE BOARD
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".
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