Fission Discovers Strong Uranium Anomalies Up to 3km Long at North Shore, AB
Marketwired
KELOWNA, BRITISH COLUMBIA--(Marketwired - Aug 29, 2013) - FISSION URANIUM CORP. (TSX VENTURE:FCU)(FCUUF)(2FU.F) ('Fission' or 'the Company') is pleased to announce the discovery of two significant and strongly radioactive uranium source anomalous regions on its 100% owned North Shore property in the Athabasca Basin, Alberta. The Northern and Southern anomalies occur within the south-central part of the project area near the southern boundary. The discovery was made using Fission and Special Project Inc's ('SPI') high resolution magnetic and radiometric airborne survey technology which is currently patent-pending (see news release July 16, 2013).
The Northern anomalous region occurs within a 1.5km x 0.5km area and contains several parallel trends up to 300m. The Southern anomaly is located approximately 7km to the SW of the northern anomaly and is characterized by being narrow (1 to 10m wide) and can be traced for up to 3km.
Ross McElroy, President, COO, and Chief Geologist for Fission, commented,
'We are very encouraged by this strongly radioactive discovery, particularly as we used the same technology to locate the boulder field at Patterson Lake South (PLS). While the expansion of our PLS discovery is our main task, following up these new results at our North Shore property is also a priority.'
In August 2013, using a fixed wing aircraft, SPI flew a 12,257 line km high resolution airborne magnetic and radiometric survey at 50m line spacing over the entire North Shore project. The radiometric system uses a calibrated gamma spectrometer which is able to differentiate between uranium, thorium and potassium and also determine the relative concentration of each element.
The radiometric data was collected and processed and anomalies were picked based on elevated total counts with correlated elevated uranium concentrations. The width and responses of the peaks indicate that some of the larger anomalies present are likely to be part of the outcrop/sub crop as opposed to boulders. This is indicated by a generally wider anomaly which is easily seen on multiple lines.
Further compilation of the data will be completed and a field program to follow-up the anomalies on the ground by mapping and prospecting is planned.
About the Fission/SPI Patent Pending System And Method For Aerial Surveying Or Mapping Of Radioactive Deposits. The invention relates to an airborne system and method for surveying a geographic area to detect and map the locations of radioactive geological deposits, such as boulders and clusters of rock. The Fission/SPI invention utilizes a fixed wing aircraft using at least one radiation detector element to fly at an ideal height and speed over a geographic area and store the radioactive signal data.
North Shore Exploration History
The North Shore Property is situated along the northwest margin of the Athabasca Basin. A high resolution magnetic and electromagnetic (VTEM) survey and a seven hole drill program totalling 1,260 m. were completed during the 2007-2008 winter season. The exploration program successfully identified a significant hydrothermal system associated with a major northeast trending structure. Strong alteration and radioactivity were intersected along this structure at downhole depths up to 185 m, with widths ranging from less than one meter to 8.5 meters. The basement hosted altered zones contained highly anomalous concentrations of geochemical pathfinders, and included uranium values ranging as high as 70.5 ppm U. These results are very encouraging at this early stage of exploration.
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, P.Geol. President and COO for Fission Uranium Corp., a qualified person.
About Fission Uranium Corp.
Fission Uranium Corp. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. Common Shares are listed on the TSX Venture Exchange under the symbol "FCU" and trade on the OTCQX marketplace in the U.S. under the symbol "FCUUF."
ON BEHALF OF THE BOARD
Ross McElroy, President and COO
Cautionary Statement: Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward-looking statements contained in this press release may include statements regarding potential spin-out and listing of Fission Uranium and the future operating or financial performance of Fission and Fission Uranium which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and the Company and Fission Uranium disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
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