SASKATCHEWAN – Fission Uranium Corp. of Kelowna, BC, is still drilling high grades at its Patterson Lake South property near the southwest edge of the Athabasca Basin. The company has received results from 10 of the 60 holes it plans to drill this summer. All 10 holes intersected mineralization with six holes returning strongly radioactive intervals measuring >10,000 cps.
Hole PLS15-416, drilled on the eastern edge of the Triple R's R780E zone has intersected 3.93 metres total composite mineralization of greater than 10,000 cps radioactivity – the strongest to date from that area, said Fission. The drill core intersected 48.0 meres of total composite mineralization over a 170.0-metre section beginning at 207.5 metres below surface.
The company said step out drilling has expanded the strike length of the R600W zone to a total of 105 metres. High grade hole 15-408 moved the limit of the zone 15 metres west, and hole 15-404 extended it another 15 metres to the east.
In February 2015, Fission's preliminary economic assessment of the PLS project put indicated resources at 2.3 million tonnes averaging 1.58% U3O8 and 0.51 g/t Au for the Triple R deposit. The inferred resource is 901,000 tonnes at 1.30% U3O8 and 0.56 g/t Au.
Last month Fission and Denison Mines signed a binding letter of agreement to combine their businesses. See FissionUranium.com for details.