VANCOUVER — Fission Uranium
; US-OTC: FCUUF
) is hoping to strike a fiscal balance between resource expansion and grassroots discovery at its Patterson Lake South (PLS) project in the Athabasca Basin. The company has an enviable capital position following an $82.2-million strategic investment from China’s state owned CGN Mining in early 2016, but the volatile state of uranium markets demands a cautious approach to burn rates and project spending.
Fission is known for its prolific drill campaigns, however, and the market didn’t slow activity at PLS down too much last year.
The company invested roughly $17 million in its Triple R deposit in 2016, and recently announced a $6.5-million winter program that will include 10,000 metres over 34 drill holes. Exploration work will follow up on “multiple regional exploration targets” identified last summer, while delineation and expansion work will continue along the 2.6-km Triple R mineralized trend.
Read the entire story at The Northern Miner