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Fission Uranium Corp.
Summary
| Project: | Patterson Lake South | |
|---|---|---|
| Deposit: | Triple R | |
| Location: | Canada | |
| Commodities: | Uranium | |
| Date: | 2/20/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-2-2018: Fission Uranium Corp. announces a Resource Estimation report for its Triple R deposit at the Patterson Lake South project. Mineral Resource update for Triple R. FISSION URANIUM CORP. ("Fission" or “the Company") is pleased to announce the resul | |
| Resources: | (Resource): 2.186Mt @ 1.82% U3O8 (Ind.) and 1.331Mt @ 1.8% U3O8 (Inf.) at project | |
| CP/QP: | [Overall Report]: Ross McElroy (Internal) | |
| ABSTRACT: | FISSION URANIUM CORP. ("Fission" or “the Company") is pleased to announce the results of an updated independent resource estimate for the Triple R deposit, which now includes the R1515W, R840W, R00E, R780E and R1620E zones at its 100% owned, awardwinning Patterson Lake South (PLS) property in Canada's Athabasca Basin region. The updated resource represents a 95% increase in pounds U3O8 classified as Inferred and an 8% increase in pounds U3O8 classified as Indicated as compared to the previous Mineral Resource dated July 28, 2015. The increase in resource classified as Indicated is primarily due to infill drilling on the R780E zone, while the increase in resource classified as Inferred is primarily due to the discovery and delineation of the R1620E, R840W, and R1515W zones. This significant increase to the overall resource, has been achieved with prudent spending during the last three years of low uranium prices. Ongoing 'Triple R' Resource Growth and Exploration in 2018: Fission is already targeting further growth of the R1515W zone in the current winter 2018 program and expects to continue exploration and resource growth in subsequent programs. Additionally, the 2018 winter drill program is focussing on geotechnical data gathering, and infill drilling in the R780E zones as part of the Pre-Feasibility Study “PFS” related work. There will be another update to the resource model after the 2018 drilling program, and that model will be used for the PFS work. Resource updates will be fully documented along with PFS results. | |
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