URANIUM: Fission says PLS maiden resource tops 100M lb

SASKATCHEWAN – Fission Uranium Corp. of Kelowna, BC, has made the eagerly awaited maiden resource estimate for its Patterson Lake South uranium project in the Athabasca Basin. The deposit contains more than 100 million lb of U₃O₈ – 79.6 million lb indicated and 25.9 million lb inferred.

What Fission is calling the Triple R deposit contains 2.29 million indicated tonnes at an average grade of 1.48% U₃O₈, including a high grade zone of 110,000 tonnes at 18.21% or 44.30 million lb of uranium oxide. The inferred resource includes 901,000 tonnes at 1.30% U₃O₈, including 24,000 tonnes at a grade of 26.35% U₃O₈. A cut-off grade of 0.1% U₃O₈ was used.

Fission says that PLS is the largest undeveloped resource in the Athabasca Basin. The Triple R deposit is also the third largest, behind McArthur River and Cigar Lake, in the basin.

The deposit contains recoverable amounts of gold. There are 38,000 oz in the indicated resource based on an average grade of 0.51 g/t Au, and there are 16,000 oz in the inferred resource based on a grade of 0.56 g/t Au.

Fission has strong confidence in its resource estimate for several reasons: the high grade zone, the shallow depth, and strong growth potential at PLS. The 2015 winter drilling program will focus on growing the deposit that is open in several directions.

Click here to see the summary table of resources and other details. Or visit FissionUranium.com.