Fission Uranium grows resource at Triple R
Despite uranium prices at decade lows and three years of belt tightening, Fission Uranium (TSX: FCU; US-OTC: FCUUF) has managed to increase the indicated resource at its Triple R deposit by 8% and the overall resource by 30%.
The updated resource estimate for Triple R was based on five zones, which extend 3 km in length on the company’s Patterson Lake South property in the Athabasca Basin. (By contrast, the previous resource estimate in September 2015 was based on just two zones.)
Triple R now contains an indicated resource of 2.19 million tonnes at an average grade of 1.82% U3O8 for 87.76 million pounds of U3O8. The indicated resource includes a high grade zone of 119,000 tonnes grading 18.39% U3O8 for 48.25 million pounds of U3O8.
The new resource boosted inferred pounds by 95% and consists of 1.33 million tonnes grading 1.80% for 52.85 million pounds of U3O8, including 32,000 tonnes grading 20.85% U3O8 for 14.71 million pounds of U3O8.
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