Fission Uranium (FCU-V), Alpha Minerals (AMW-V) drill 7.5 m of 19.28% U3O8 at PLS. within 8.15% over 34.5m at R390E Zone.
Sept 25, 2013 - News Release
Fission Uranium Corp., the operator, and its joint venture partner Alpha Minerals Inc., have released assay results from holes PLS13-072 (Line 345E) and PLS13-073 (Line 435) drilled on the Western and Eastern regions of zone R390E, at their Patterson Lake South property, Saskatchewan. The main zone of mineralization for PLS13-072 returned an interval of 8.15 per cent U3O8 over 34.0 metres, including a higher-grade core of 19.28 per cent U3O8 over 7.5 metres. With an overall grade times thickness (GT) value of 281.2 for this interval, this hole ranks highly with the top mineralized holes to date at PLS.
PLS13-072 assay highlights:
- 34.5 metres at 8.15 per cent U3O8 (61.0 metres to 95.5 metres) with GT 281.2, including 7.50 metres at 19.28 per cent U3O8 (65.5 metres to 73.0 metres);
- 21.53 per cent U3O8 over four metres (91.0 metres to 95.0 metres);
- Highest assay of 47.0 per cent U3O8 (68.5 metres to 69.0 metres).
Ross McElroy, president, chief operating officer and chief geologist for Fission, commented: "We are continuing to see great results from PLS. Hole 072 in particular has intersected a superb mineralized interval with very high grades, wide intersections and particularly shallow depth."
Composited U3O8 mineralized intervals are summarized in the table. Samples from the drill core are split in half on site. Where possible, samples are standardized at 0.5-metre downhole intervals. One-half of the split sample is sent to the laboratory for analysis and the other half remains on site for reference. All depth measurements reported, including sample and interval widths, are downhole; core interval measurements and true thickness are yet to be determined.
View results go to www.fissionuranium.com
Drill hole PLS13-072 was collared as a vertical hole and was completed at a depth of 209.0 metres. Mineralized zones as defined by assays of greater than 0.05 per cent U3O8 over greater than 0.5 metres are present in discrete intervals over a 105.5-metre-wide section (61.0 metres to 166.5 metres) each ranging in width from 0.5 metres to 34.5 metres wide. The main mineralized horizon was encountered from 61.0 metres to 95.5 metres and returned a composited interval of 8.15 per cent U3O8 over 34.5 metres, including a high-grade core (65.5 metres to 73.0 metres) that returned 19.28 per cent U3O8 over 7.5 metres. Basement bedrock was encountered at 55.7 metres depth, immediately below the overburden with no Devonian sandstone encountered above the basement. From 55.7 metres to 163.0 metres basement lithology consists of alternating sequences of moderate to steeply dipping pelitic gneiss and mylonites. Below 163.0 metres, the basement transitions to a semi-pelitic gneiss.
Drill hole PLS13-073 (Line 435E) was collared as a vertical hole and was completed at a depth of 248.0 metres. Two zones of mineralization were intersected: 19.5 metres at 0.25 per cent U3O8 (102.0 metres to 121.5 metres) and 10.0 metres at 0.59 per cent U3O8 (132.5 metres to 142.5 metres). A thin cap of Devonian sandstone was encountered from 50.0 metres to 53.0 metres, overlying a quartz-feldspar granofel to a depth of 90.1 metres. The quartz-feldspar granofel was underlain by alternating sequence of pelitic gneiss/mylonites to end of hole (248.0 metres). The foliated pelitic gneiss/mylonite sequence is moderately clay altered to 226 metres and sulphide bearing from 235.5 metres to 248.0 metres.
Patterson Lake South property
The 31,039-hectare PLS project is a 50-per-cent-50-per-cent joint venture held by Fission Uranium 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 and passes through the nearby UEX-Areva Shea Creek discoveries located 50 kilometres to the north, currently under active exploration and development. Updated maps and assay table for the R390 zone 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 Uranium, a qualified person.
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