Fission Uranium (TSX:FCU; OTC:FCUUF) has kicked off its summer drill program to advance the front-end engineering design (FEED) work at its wholly owned Patterson Lake South (PLS) uranium property in the Athabasca basin of Saskatchewan. A two-stage program with 12 holes is planned.
Two holes for a total of 440 metres will be drilled to confirm geotechnical parameters of the rock mass and discontinuities. One will be drilled in the pillar between the fresh air shaft and the R840W access drifts. The second will be bored in the area of the return drift near the exhaust air shaft. The information will be used in planning the underground mine infrastructure.
Seven test holes and three monitoring holes for a total of 500 metres will be drilled for hydrogeological assessment of the potential to expand the tailings management facility (TMF) northward into the aggregate borrow pit. If the results support this goal, the TMF will be enlarged to treat the same volume as considered in the feasibility study over a larger area, which would reduce the ultimate berm height. Either option is expected to reduce long-term rehabilitation costs and provide operational flexibility and cost efficiency.
The PLS project has the potential to be one of the world’s lowest cost uranium mines. The shallow, high-grade Triple R deposit has an indicated resource of 114.9 million lb. uranium oxide (U3O8) in 2.7 million tonnes grading 1.94% U3O8. The inferred resource is 15.4 million lb. U3O8 in 635,000 tonnes grading 1.10% U3O8. The deposit remains open in all directions and at depth.
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