Fission drills 34 metres at 19% U3O8, one of best ever at PLS, Triple R deposit

Marilyn Scales | November 8, 2022 | 8:39 am News Canada Uranium 
The PLS exploration camp in the southwest of the Athabasca Basin. Credit: Fission Uranium

Fission Uranium (TSX: FCU; OTC: FCUUF) has drilled one of the best holes to date at its Patterson Lake South (PLS) project in the Athabasca basin. Hole PLS21-MET-004, drilled in the Triple R deposit, intersected  34.0 metres averaging 19.12% uranium oxide (U3 O8 ), including 26.0 metres at 24.59% U3 O8.

The total composite grade x thickness value (GT) is 650.7, as calculated by Fission.

Ross McElroy , President and CEO for Fission, commented, “These assays are a reminder of the incredible strength of mineralization we have here at PLS, said Fission president and CEO Ross McElroy, “with numbers that place the Triple R in an elite group of deposits worldwide.

The company has received all the assays that will be included in the upcoming feasibility study, due to be complete later this year or early next. Six of the seven recently completed holes cut high uranium grades.

Elsewhere in the Triple R deposit, hole PLS21-MET-003 returned 47.5 metres grading 2.55% U3 O8  (from 99.0 to 146.5 metres), including 9.0 metres at 11.77 U3 O8.

Hole PLS21-MET-002 returned 65.5 metres grading 1.21 U3 O8 (from 106.0  to 171.5 metres), including 4.0 metres at 4.60% U3 O8 .

Uranium mineralization in the Triple R deposit at PLS has been traced by core drilling over about 3.2 km in fix separate zones along an east-west strike length. The work has confirmed that Triple R is a large, near surface, basement, hosted, structurally controlled high-grade uranium deposit.

The updated resource estimate for the Triple R deposit included 2.7 million indicated tonnes grading 1.94% U3 O8  and 0.61 g/t gold for 114.9 million lb. of uranium and 52,700 oz. of gold. The inferred resource is 635,000 tonnes grading 1.10% U3O8 and 0.44 g/t gold for 15.4 million lb. uranium and 9,000 oz. gold.

The Patterson Lake South property covers 31,039 ha along the southwest rim of the Athabasca basin. Fission is the 100%-owner.

More technical information about the PLS uranium project is available on www.FissionUranium.com.

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