Fission 3.0 (FUV), and (JV) partner, Canex Energy (CSC-V) July 27, '15 are pleased to announce that drilling has commenced at the Clearwater West property, adjacent to Fission Uranium (FCU-T) high-grade PLS property, in Saskatchewan's Athabasca Basin. This is the first of seven holes designed to test the most prospective, shallow targets on the eastern side of Clearwater West. Fission Uranium intersected near-surface anomalous radioactivity in a down-hole gamma radiometric bore-hole survey (PLS14-255 with 2532 cps at 63.76m - 64.71m; Fission news release dated August 11, 2014) on its PLS property, a near-by 330m from the PLS-Clearwater West property boundary.
Key Program Details:
- 7 hole/1,050m Drill Program.
- Primary area of interest is cluster of basement EM conductors in the eastern area of project, close to the Clearwater West/PLS border.
- Land based targets are the focus of this summer's drill program.
- Fission 3.0 and their award-winning technical team are operators.
Updated maps can be found on the Company's website at http://www.canexenergy.com/clearwater-west-project/.
Summary of the Clearwater West Project:
Fission 3.0's experienced and successful management and technical team, with a track record of two major high-grade uranium discoveries in the Athabasca Basin region in the past three years (Waterbury Lake project and the PLS project), operates and manages Clearwater West. Fission 3.0 currently holds a 100% interest in Clearwater West.
Canex has entered into a 3-year option to acquire up to a 50% interest in Clearwater West by incurring $5,000,000 of staged exploration expenditures on or before October 14, 2016. Year One minimum exploration requirement is $700,000 which has been completed.
Clearwater West is an early stage exploration project prospective for hosting high-grade uranium mineralization. Such mineralization is structurally controlled and typically associated with basement graphitic shear zones within clay altered metasedimentary basement lithologies. These features have unique characteristics that can be identified by various geophysical surveys. The property covers historic airborne EM anomalies, which could be the extensions of the EM conductors identified on the PLS property immediately to the north.
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 Harrison Cookenboo, Ph.D., P.Geo, director for Canex Energy Corp., a qualified person.
About Canex Energy
Canex Energy Corp is a Canadian-based resource company focused on uranium in Saskatchewan's Athabasca Basin - the world's largest source of high-grade uranium and gold in British Columbia. The company has a joint venture with Fission 3.0 Corp. to explore Fission's Clearwater West property at which Fission’s award-winning technical team is the Operator.
ON BEHALF OF THE BOARD
Peter G Wilson, CEO
Contact:
Brian Biles
604 687 7742
brian@canexenergy.com
Fission 3.0 Corp.
Investor Relations
Rich Matthews
778-484-8030 or TF: 844-484-8030
rich@fission3corp.com
www.fission3corp.com |
