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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (10113)	11/9/2014 7:48:19 PM
From: Goose94	Read Replies (1) \| Respond to of 203329

FCU-T Dev Randhawa advice for Fission shareholders youtube.com

To: Goose94 who wrote (10113)	11/29/2014 8:12:15 PM
From: Goose94	Read Replies (1) \| Respond to of 203329

Fission Uranium (FCU-T) has been one of the few juniors that has maintained a steady drilling rate over the past two years despite tough capital markets. The company's Patterson Lake South (PLS) uranium discovery in Saskatchewan's Athabasca Basin has continued to grow, and president and COO Ross McElroy discuss Fission's progress to-date and an eagerly-awaited maiden resource estimate expected by year end. The company kick-started the year with an aggressive 35,2000-metre delineation drill program aimed at merging four key mineralized zones into one continuous corridor. Fission ended up completing 92 core holes, with 80 holes designed as delineation holes on the main mineralized trend and 12 holes aimed at regional exploration. "During the winter we took a number of unique zones we discovered in 2013 and really tried to glue them together to make one long body of mineralization. The summer was all about filling out the width dimensions,” McElroy explains. Fission followed up with a 20,300-metre program during the summer. Drilling resulted in the crystallization of Fission's crown jewel at PLS, namely the R780E zone. The company merged five distinct uranium deposits into a single 930 metre long zone that hits a maximum north-south lateral width of 50 metres. “It's turned out to be wider than most deposits, and the grades been pretty consistent all the way through. What I think you see right down the guts of the deposit is a high-grade spine, but the key components remain the same. We're still near surface and you have great continuity from section to section," he adds. McElroy points out that R780E is a "remarkable zone" due to the company's success rate at the target. Fission hit six "blank holes" during its 2014 drill programs, with only one of those holes collared at R780E. The company reported a 100% success rate during summer drilling at the target, with continuous grade consistency. Key intervals reported in 2014 from R780E include: 24 metres of 8.53% U3O8 from 78 metres depth in hole 14-271; 48 metres grading 13.23% U3O8 from 130 metres depth in hole 14-248; and 38.5 metres averaging 4.21% U3O8 from 132 metres depth in hole 14-259. “One of the important takeaways is that it's basement-hosted deposit, which is the favorable rock regime in the Athabasca, even more so than the unconformity,” McElroy continues “It's lower down so you have more competent rock on either side. If you're a mining engineer you'd definitely rather have a deposit in the basement rock.” Fission's upcoming resource estimate with incorporate the R780E and R00E zones, which could both offer intriguing mining scenarios since they run near to surface and boast open-pit potential. Fission's is likely aiming for a resource in the ball-park of Denison Mines ( DML-T) unconformity-type Phoenix deposit, along the eastern flank of the Athabasca Basin, on the Wheeler River joint venture. In mid-June Denison announced that Phoenix now hosts roughly 166,400 indicated tonnes grading 19.13% U3O8 for 70.2 million contained lbs. U3O8. Fission will probably be looking at lower grades at PLS, but Phoenix lies around 400 metres below surface. Raymond James analyst David Sadowski has a contained metal target of roughly 100 million lbs. U3O8 at PLS, though he notes: "We see potential for around 150 million lbs. in the longer-term." “When you look at Athabasca deposits you have your outliers like Cigar Lake and McArthur River. Then you've got Phoenix, which is similar, but really a fraction of the size,” McElroy says. “The shallower you are the lower the grade tends to be. For us we're definitely looking at an affordable mining scenario due to our depth. We believe we have size and relative grade going for us as well.” The next evolution at PLS will involve Fission chasing a plethora of viable targets across the greater property package. Thus far the company has focused its drill campaigns primarily on resource delineation, but it looks like an upcoming program in early 2015 will see the drill bits turn outward. McElroy explains that the company has a 20,000 metre program in mind with a US$10 million budget, and roughly half of that is ear-marked for property-wide exploration. It's important to remember that the main PLS zone occurs on a single electromagnetic (EM) conductor, while Fission's 310-sq.km property package hosts around 105 similar EM occurrences. In January the company initiated a US$500,000 radon survey that targeted ten high-priority conductors within four outlined areas of the PLS property. “The next conductive zone down moving south from PLS is called Far East. It's a series of conductor we drilled in the summer and hit radioactivity in three of five holes. Again, it's telling us there's smoke there,” McElroy expounds. “We also did some more property-scale radon surveying, and we're seeing anomalies in all those surveys. Our Forest Lake target has results similar to Patterson Lake, and it's also where the geophysics looks the most promising.” Fission has the capital to continue drilling through the New Year, as the company closed a $12.5 million bought private placement in late August. The offering included 8.35 million flow-through shares priced at $1.50 per share. “We've been very aggressive with our exploration even in weaker markets. We're more results driven, and we've done a whole lot of exploration and development in a terrible uranium market, and it's still paid dividends. Our shareholders have benefited from discovery, and not from waiting for the right timing,” McElroy concludes.