Anyone climb on board FIS bottom-fish? You'll be happy camper.
Fission, Alpha Minerals drill six m of radioactivity
Nov 5, 2012 - News Release
Fission Energy Corp. and its joint venture partner Alpha Minerals Inc.'s core drilling on the Patterson Lake South (PLS) project has intersected a six-metre-wide interval of high-grade mineralization with massive visible pitchblende in veins (up to 21 centimetres wide), blebs and flecks.
This high-grade mineralization occurs at shallow depth in basement rocks in drill hole PLS12-022, which is still in progress. The strongly radioactive interval occurs within a broader 21-metre interval of moderate radioactivity, which breaches the unconformity and extends downward into the Archean basement.
Ross McElroy, president, chief operating officer and chief geologist for Fission, commented: "We believe that PLS is entering a very exciting stage in an underexplored region on the margin of the Athabasca basin. The latest results to date provide confirmation of the project's potential to host a significant high-grade uranium deposit. We are particularly excited by the size and scope of this discovery."
Hole PLS12-022, a vertical hole collared 10 metres north of hole PLS12-016, intersected anomalous radioactivity in the bedrock over a 21-metre interval (57.5 to 78.5 metres), with a six-metre-wide interval of continuous strong radioactivity (71 to 77 metres).
The unconformity with the Archean basement and probable Devonian sandstone was encountered at 59.53 metres depth.
The 4.24-metre intersection of Devonian sandstone included a 1.73-metre intersection with 1,400 counts per second radioactivity lying unconformably on the Archean basement.
Elevated radioactivity continues in the upper basement drill core to 78.5 metres.
A second weakly radioactive interval has been intersected at 166 metres to 177 metres depth as drilling continues.
Discovery hole PLS12-022 is located approximately 3.8 kilometres northeast of the high-grade boulder field, where assays returned values up to 39.6 per cent triuranium octoxide (see news release dated July 27, 2011).
Natural gamma radiation in drill core that is reported in this news release was measured in counts per second using a hand-held Exploranium GR-110G total count gamma-ray scintillometer. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured, and should be used only as a preliminary indication of the presence of radioactive materials. The degree of radioactivity within this interval is highly variable and associated with visible pitchblende mineralization. Core recovery is generally very good between 91.9 to 100 per cent. The 21-metre-wide zone of alteration and elevated radioactivity can be described as greater than 300 counts per second, with discrete intervals of high radioactivity (greater than 9,999 counts per second). All intersections are downhole, core interval measurements, and true thickness is yet to be determined.
A continuing field program is in progress. This includes eight holes totalling 1,600 metres of core drilling following up geophysics and geologic targets, including the prospective PL-3B conductor, as well as 12 holes totalling 1,440 metres of dual rotary (DR) drilling evaluating overburden near the boulder field (see news release dated Oct. 25, 2012).
All holes will be radiometrically surveyed with a Mount Sopris 2GHF-1000 triple gamma probe, which allows for accurate measurements in high-grade mineralized zones. This probe will be used if high-grade mineralization is encountered in subsequent drill holes.
Split core samples from the mineralized section of core will be taken continuously through the mineralized intervals and submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005-accredited facility) of Saskatoon for analysis, which includes triuranium octoxide (weight per cent) and fire assay for gold. All samples sent for analysis will include a 63-element ICP-OES, uranium by fluorimetry and boron. Assay results will be released when received.
Further updates will be provided.
Patterson Lake South property
The 31,039-hectare PLS project is a 50/50 joint venture held by Fission Energy and Alpha Minerals. Fission is the operator. PLS is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine (greater than 60 million pounds of triuranium octoxide produced), and passes through the nearby UEX-Areva Shea Creek discoveries located 50 kilometres to the north, currently under active exploration and development. An updated map highlighting the core and dual rotary drilling programs planned for PLS can be found on the company's website.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ross McElroy, PGeol, president and chief operating officer for Fission Energy, a qualified person.
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