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Fission Uranium Corp.
Summary
| Project: | Patterson Lake South | |
|---|---|---|
| Deposit: | Patterson Lake South Underground | |
| Location: | Canada | |
| Commodities: | Uranium | |
| Date: | 9/23/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 23-9-2019: Fission Uranium Corp. announces a Pre-Feasibility Study report for its Patterson Lake South Underground deposit at the Patterson Lake South project. U/G PFS results incl. pre-tax NPV (8%) of C$1.33B, IRR of 34%. KELOWNA, BC, Sept. 23, 2019 /CNW | |
| Resources: | (Reserve, Prob.): 2.299Mt @ 1.61% U3O8 | |
| CP/QP: | [Overall Report]: Charles Edwards,Mark Wittrup, David M. Robson, Mark Mathisen, Jason Cox (Wood Canada Ltd.;Clifton Associates Ltd.;Roscoe Postle Associates Inc.) | |
| ABSTRACT: | KELOWNA, BC, Sept. 23, 2019 /CNW/ - FISSION URANIUM CORP. ("Fission" or "the company") is pleased to announce the results of a prefeasibility study for an underground-only mining scenario, conducted by Roscoe Postle Associates Inc. "RPA", and entitled "Pre-Feasibility Study on the Patterson Lake South Property Using Underground Mining Methods" (the "U/G PFS") for its' PLS property in Canada's Athabasca Basin region. The U/G PFS follows the results of an earlier PFS report outlining a hybrid mine approach using both open pit and underground techniques (the "Hybrid PFS"). The U/G PFS highlights a substantial reduction in CAPEX and time requirements for construction of the Triple R mine due to simplified water control measures for underground mining. With the U/G PFS, access to the deposit is envisaged via a decline from land. The revised mining method eliminates the need for a system of dykes and slurry walls, dewatering and overburden removal and results in a reduction of 90% of total mine-related earth movement from the Hybrid PFS to the U/G PFS. The reduced earth movement results in reduced surface piles and overall minimized surface footprint. With a projected OPEX of just US$7.18/lb, an IRR (pre-tax) of 34% and an NPV (pre-tax) at 8% of $1.33B, the U/G PFS outlines the potential for highly economic production at PLS. | |
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