KELOWNA, BRITISH COLUMBIA--(Marketwired - Apr 18, 2016) - FISSION URANIUM CORP. (FCU.TO)(FCUUF)(2FU.F) ("Fission" or "the Company") is pleased to announce it has hit new high grade mineralization at four zones (R840W, R600W, R780E and R1620E) at its PLS property, host to the Triple R deposit, in Canada's Athabasca Basin region. The assay results include hole PLS16-460 on zone R1620E (line 1500E) with 5.0m @ 10.95% U3O8 and 3.0m @ 7.56% U3O8 within a larger interval of 40.0m @ 2.64% U3O8. The wide, high-grade mineralization encountered by this hole, located 385m east of the Triple R and as well as hole PLS16-465, located 135m west of the Triple R, highlights the rapidly-increasing exploration potential of PLS. In total, Fission has assay results from ten holes: two holes drilled on the newly-discovered R840W zone, one drilled on the R600W zone, two on the R780E zone and five on the rapidly-growing R1620E zone.
Ross McElroy, President, COO, and Chief Geologist for Fission, commented, "These results show it's still very early days here at PLS. Fission's exploration drilling has delivered high-grade, near-surface assays 2.34km apart on a 2.58km mineralized trend that is already the largest footprint in the Athabasca Basin region. In other words, exploration growth has been strong this winter and we have a number of exciting exploration targets on our hit list for this summer. The latest results highlight how we have driven the trend west towards the huge high-grade boulder field, and east towards the border with our neighbours and they reaffirm what we've been saying for some time - we have barely scratched the surface of PLS' potential."
Assay Highlights Include:
R840W zone (newly discovered this winter and not included in Triple R deposit resource estimate)
PLS16-462 (line 840W) key interval:
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22.0m @ 1.10% U3O8 (160.0m to 182.0m), including:
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8.5m @ 2.54% U3O8 (163.5m to 172.0m)
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R1620E Zone (transformed into a high-grade zone this winter and not included in Triple R deposit resource estimate)
PLS16-460 (line 1500E) key interval:
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40.0m @ 2.64% U3O8 (66.0m to 106.0m), including:
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3.0m @ 7.56% U3O8 (79.5m to 82.5m)
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5.0m @ 10.95% U3O8 (100.0m to 105.0m)
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PLS16-464 (line 1485E) key interval:
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50.0m @ 2.69% U3O8 (71.0m to 121.0m), including:
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9.5m @ 7.58% U3O8 (106.5m to 116.0m)
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Table 1:
| Zone | Hole ID | Grid Line | Az | Dip | From (m) | To (m) | Interval (m) | U3O8 (wt%) | ||||||||
| R840W | PLS16-462 | 840W | 325 | -80.2 | 144.50 | 147.50 | 3.00 | 0.25 | ||||||||
| 154.50 | 155.00 | 0.50 | 0.07 | |||||||||||||
| 160.00 | 182.00 | 22.00 | 1.10 | |||||||||||||
| 163.50 | 172.00 | 8.50 | 2.54 | |||||||||||||
| 198.00 | 213.50 | 15.50 | 0.22 | |||||||||||||
| PLS16-465 | 855W | 341 | -81.4 | 171.50 | 202.50 | 31.00 | 0.56 | |||||||||
| 186.00 | 192.00 | 6.00 | 1.93 | |||||||||||||
| 205.00 | 221.50 | 16.50 | 0.20 |
| Composite Parameters | |
| 1. Minimum Thickness: 0.50m | |
| 2. Grade Cut-Off: 0.05 U3O8 (wt%) | |
| 3. Maximum Internal Dilution: 2.00m | |
Table 2:
| Zone | Hole ID | Grid Line | Az | Dip | From (m) | To (m) | Interval (m) | U3O8 (wt%) | ||||||||
| R600W | PLS16-456 | 555W | 341 | -81.6 | 98.00 | 110.00 | 12.00 | 0.20 | ||||||||
| 196.50 | 197.00 | 0.50 | 1.74 |
| Composite Parameters | |
| 1. Minimum Thickness: 0.50m | |
| 2. Grade Cut-Off: 0.05 U3O8 (wt%) | |
| 3. Maximum Internal Dilution: 2.00m | |
Table 3:
| Zone | Hole ID | Grid Line | Az | Dip | From (m) | To (m) | Interval (m) | U3O8 (wt%) | ||||||||
| R780E | PLS16-458 | 1080E | 340 | -74.0 | 243.00 | 246.00 | 3.00 | 0.07 | ||||||||
| 260.50 | 261.00 | 0.50 | 0.07 | |||||||||||||
| 266.50 | 267.00 | 0.50 | 0.08 | |||||||||||||
| 278.00 | 279.00 | 1.00 | 0.10 | |||||||||||||
| 294.00 | 296.00 | 2.00 | 0.29 | |||||||||||||
| 298.50 | 304.50 | 6.00 | 0.62 | |||||||||||||
| 308.50 | 309.50 | 1.00 | 0.23 | |||||||||||||
| 314.00 | 323.50 | 9.50 | 0.11 | |||||||||||||
| 327.50 | 328.50 | 1.00 | 0.18 | |||||||||||||
| 360.50 | 361.00 | 0.50 | 0.08 | |||||||||||||
| 363.00 | 363.50 | 0.50 | 0.10 | |||||||||||||
| PLS16-463 | 1080E | 341 | -69.9 | 204.50 | 216.00 | 11.50 | 0.49 | |||||||||
| 224.00 | 236.00 | 12.00 | 2.79 | |||||||||||||
| 228.50 | 233.00 | 4.50 | 6.92 | |||||||||||||
| 256.50 | 257.00 | 0.50 | 0.05 | |||||||||||||
| 269.50 | 270.00 | 0.50 | 0.09 | |||||||||||||
| 276.50 | 290.00 | 13.50 | 0.12 | |||||||||||||
| 308.50 | 309.50 | 1.00 | 0.07 | |||||||||||||
| 315.50 | 316.50 | 1.00 | 0.31 | |||||||||||||
| 329.00 | 332.00 | 3.00 | 0.06 | |||||||||||||
| 344.00 | 344.50 | 0.50 | 0.07 |
| Composite Parameters | |
| 1. Minimum Thickness: 0.50m | |
| 2. Grade Cut-Off: 0.05 U3O8 (wt%) | |
| 3. Maximum Internal Dilution: 2.00m | |
Table 4:
| Zone | Hole ID | Grid Line | Az | Dip | From (m) | To (m) | Interval (m) | U3O8 (wt%) | ||||||||
| R1620E | PLS16-459 | 1395E | 346 | -67.9 | No Significant Mineralization | |||||||||||
| PLS16-460 | 1500E | 345 | -89.1 | 66.00 | 106.00 | 40.00 | 2.64 | |||||||||
| 79.50 | 82.50 | 3.00 | 7.56 | |||||||||||||
| 100.00 | 105.00 | 5.00 | 10.95 | |||||||||||||
| 109.50 | 114.50 | 5.00 | 1.06 | |||||||||||||
| 118.00 | 120.00 | 2.00 | 0.66 | |||||||||||||
| 135.50 | 136.00 | 0.50 | 0.08 | |||||||||||||
| 147.00 | 148.00 | 1.00 | 0.17 | |||||||||||||
| PLS16-464 | 1485E | 329 | -73.7 | 71.00 | 121.00 | 50.00 | 2.69 | |||||||||
| 106.50 | 116.00 | 9.50 | 7.58 | |||||||||||||
| 124.50 | 125.50 | 1.00 | 0.08 | |||||||||||||
| PLS16-466 | 1395E | 349 | -87.9 | No Significant Mineralization | ||||||||||||
| PLS16-468 | 1470E | 339 | -70.3 | 72.50 | 80.00 | 7.50 | 0.17 | |||||||||
| 87.00 | 101.50 | 14.50 | 0.12 | |||||||||||||
| 105.50 | 115.00 | 9.50 | 0.16 | |||||||||||||
| Composite Parameters | |
| 1. Minimum Thickness: 0.50m | |
| 2. Grade Cut-Off: 0.05 U3O8 (wt%) | |
| 3. Maximum Internal Dilution: 2.00m | |
Composited % U3O8 mineralized intervals are summarized in Tables 1, 2, 3 and 4. Samples from the drill core are split in half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK for analysis which includes U3O8 (wt %) and fire assay for gold, while the other half remains on site for reference. All analysis includes a 63 element ICP-OES, uranium by fluorimetry and boron. Individual zone wireframe models constructed from assay data and used in the resource estimate indicate that both the R780E and R00E zones have a complex geometry controlled by and parallel to steeply south-dipping lithological boundaries as well as a preferential sub-horizontal orientation. All depth measurements reported, including sample and interval widths are down-hole, core interval measurements and true thickness are yet to be determined.