Fission Energy Corp.: Step-Out Drill-Hole Hits 13.89m of "Off-Scale" Radioactivity in 53.0m of Mineralization at PLS
11 Mars 2013 - 5:06PM
Marketwired Canada
FISSION ENERGY CORP. ("Fission" or "the Company") (TSX
VENTURE:FIS)(OTCQX:FSSIF), and its Joint Venture partner Alpha Minerals Inc. are
pleased to announce results from 5 additional drilling holes, including 3 holes
from the recently named R390E zone (PLS13-044, 046 and 051), located
approximately 390m east of the PLS12-022 discovery area at the Patterson Lake
South (PLS) property, referred to as R00E. As Operator, Fission has chosen to
name the new zones of mineralization 'R00E' and 'R390E'.
PLS13-051 Drilling Highlights include:
-- 53.0m interval of continuous mineralization
-- including 11.5m of continuous "off-scale" radioactivity (greater
than 9999 cps)
-- the sum of discrete intervals of "off-scale" radioactivity total
13.89m
-- greater than 26% of the interval measure "off-scale".
-- Located 15m grid east of PLS13-038 (see news release dated Feb. 19,
2013) in which mineralization was found over 57.5m. 11.65m of which was
"off-scale".
In additional delineation drilling in the R390E area, PLS13-044 drilled 10m
north of PLS13-038 intersected a total 34.0m of mineralization in four discrete
zones of weak to moderate, and locally strong mineralization including a narrow
(0.1m) interval of "off-scale" radioactivity totaling 3.0m.
Ross McElroy, President, COO, and Chief Geologist for Fission, commented,
"PLS13-051 extends the strike length of R390E's broad zone of mineralization,
which includes significant amounts of off-scale radioactivity, initially
discovered in PLS13-038 15m to the west. We are focusing our efforts to define
this area as we target drilling around these holes that have returned such
excellent results."
R390E Zone:
The R390E zone refers to the zone of mineralization located approx. 390m
on-strike to the east of R00E, and first encountered in PLS13-038 (see news
release Feb 19, 2013). R390E has now been delineated with 4 drill holes
(PLS13-038, 044, 046 and 051) and is open in all directions. Based on various
geophysical interpretations including airborne and ground EM and ground
resistivity surveys, the general target area is on strike of the western
mineralization located approx. 390m to the west. As is the case with the R00E
zone, R390E mineralization is spatially located proximal to the north of the
PL-3B basement EM conductor and situated within a well defined resistivity low
corridor. R390E was targeted to test a coincidental radon in water and sediment
anomaly along this trend, as mentioned in the Feb 19, 2013 news release.
Drillhole interpretation thus far defines the area of mineralization to be
associated with a steeply dipping pelitic (+/- graphitic) lithology sandwiched
between a semipelitic gneiss to the north and a quartz-feldspar gneiss to the
south, where the mineralization is focused primarily near the contact between
the pelitic gneiss and quartz-feldspar gneiss.
Line 405E
Hole PLS13-051 was a vertical hole collared 15m east of hole PLS13-038. A thin
interval of Devonian sandstone was encountered from 48.2m - 51.6m, with basement
quartz-feldspar gneiss encountered directly below. A 4m interval of weak
mineralization was intersected from 76.0 - 80.0m with maximum radioactivity of
1600 cps. The main mineralized horizon was encountered from 95.0m - 148.0m and
is associated with the transition from a quartz-feldspar gneiss above to a
pelitic gneiss below. The main interval is characterized by moderate to strong
radioactivity throughout, with multiple discrete intervals of intense
"off-scale" radioactivity, measuring 13.89m of off-scale radioactivity
throughout. An 11.5m interval (107.0 - 118.5m) measured continuous off-scale
mineralization. Uranium mineralization occurs as flecks, blebs, clots, veins,
semi-massive and wormhole style.
Line 390E
Holes PLS13-044 and 046 were both vertical holes drilled 10m north of PLS13-038
and 10m south respectively. In both holes, a thin layer of Devonian sandstone
was encountered above the basement lithology. Mineralization was encountered in
both holes, with hole 044 having much better defined mineralization than 046.
The main mineralization in hole 044 was intersected over a moderate to locally
strong 12m wide interval from 77.0m - 89.0m, which included a 0.1m interval of
'off-scale" radioactivity. Hole 046 drilled 10m to the south of hole 38 was
weakly mineralized over several narrow intervals.
Table1: R390E Zone
---------------------------------------------------------------------------
(i) Hand-held Scintillomenter
Results On Mineralized
Drillcore (greater than 300
cps / greater than 0.5M Base-
Collar minimum) ment Total
------------- ----------------------------- Sand- Unconf- Drill-
CPS stone ormity hole
Hole Grid From To Width Peak From-To Depth Depth
ID Line Az Dip (m) (m) (m) Range (m) (m) (m)
---------------------------------------------------------------------------
PLS13- 390E 0 -90 73.5 74.5 1.0 360-400 48.8-50.7 50.7 221.6
038 86.5 121.0 34.5 260-greater
than 9999
123.0 124.0 1.0 360-400
126.5 130.0 3.5 less than
300-greater
than 9999
132.5 140.5 8.0 410-greater
than 9999
143.0 144.0 1.0 500-900
165.0 168.0 3.0 less than
300-2800
170.5 171.0 0.5 1000
174.0 176.5 2.5 1000-4500
178.0 180.5 2.5 less than
300-1000
---------------------------------------------------------------------------
PLS13- 390E 0 -90 56.0 73.0 17.0 less than 47.9-52.1 52.1 197.2
044 300-8700
77.0 83.0 6.0 less than
300-5300
86.0 89.0 3.0 320-greater
than 9999
96.5 104.5 8.0 less than
300-8100
---------------------------------------------------------------------------
PLS13- 390E 0 -90 96.0 99.0 3.0 less than 48.5-52.5 52.5 306.9
046 300-1300
127.5 133.5 6.0 less than
300-390
206.0 208.5 2.5 less than
300-1600
239.0 240.0 1.0 640-1100
243.5 244.0 0.5 1900
---------------------------------------------------------------------------
PLS13- 405E 0 -90 76.0 80.0 4.0 less than 48.2-51.6 51.6 282.5
051 300-1600
95.0 148.0 53.0 less than
300-9999
157.0 161.0 4.0 less than
300-2100
---------------------------------------------------------------------------
Regional Drill Holes:
Drill holes PLS13-040 and 042 were both targeted on an EM conductor and
coincident intense resistivity low located approx. 2.0km to 2.2km to the east of
R00E.
Hole PLS13-040, a vertical hole, was drilled approximately 2.2km to the east
along strike of R00E. Bedrock was encountered at 54.5m and consisted of
primarily semipelitic and pelitic gneiss (locally graphitic from 86.9 - 97.3m)
to 109.5m. A possible mafic rock was encountered from 109.5m to the end of hole
(182.0m). Significant clay alteration was present over several intervals from
54.5m to 109.5m, including an interval of sulphide (pyrite) mineralization from
89.0 - 97.3m. No anomalous radioactivity was encountered.
Hole PLS13-042 a vertical hole was drilled approximately 2.0km east of R00E.
Bedrock was encountered at 45.0m and consists of alternating sequences of
semipelitic and pelitic gneiss (locally graphitic) to the end of hole at 203.4m.
Moderate to strong chlorite alteration is present from the top of the basement
to 121.2m. From 121.2m to 200.0m, alternating sequences of moderate to strong
chlorite alteration and sulphide mineralization are present throughout. No
anomalous radioactivity was encountered.
Table 2: Regional Eastern Targets
--------------------------------------------------------------------------
(i) Hand-held Scintillomenter
Results On Mineralized
Drillcore (greater than 300
cps / greater than 0.5M Base-
Collar minimum) ment Total
-------------- --------------------------- Sand- Unconf- Drill-
CPS stone ormity hole
Hole Grid From To Width Peak From-To Depth Depth
ID Line Az Dip (m) (m) (m) Range (m) (m) (m)
--------------------------------------------------------------------------
PLS13- 2190E 0 -90 No Significant No 54.5 182.0
040 Radioactivity Sandstone
--------------------------------------------------------------------------
PLS13- 1995E 0 -90 No Significant No 45.0 203.4
042 Radioactivity Sandstone
--------------------------------------------------------------------------
Natural gamma radiation in drill core that is reported in this news release was
measured in counts per second (cps) using a hand held Exploranium GR-110G total
count gamma-ray scintillometer. Borehole radioactivity is measured downhole
using a Mount Sopris 2GHF-1000 Triple Gamma probe. The reader is cautioned that
scintillometer readings are not directly or uniformly related to uranium grades
of the rock sample measured, and should be used only as a preliminary indication
of the presence of radioactive materials. The degree of radioactivity within the
mineralized intervals is highly variable and associated with visible pitchblende
mineralization. All intersections are down-hole, core interval measurements and
true thickness are yet to be determined.
An ongoing field program is in progress. This includes approximately 8,000m of
core drilling to further delineate and define the mineralized region identified
during the summer 2012 program. As well, a Moving Loop Time Domain
Electro-Magnetic survey (MLTDEM) was completed on this trend to assist in
resolving the geophysical conductors and interpretive structural information.
This survey will be used to identify prospective drill targets in the immediate
area of mineralization and further along strike.
All holes are planned to be radiometrically surveyed using a Mount Sopris
2GHF-1000 Triple Gamma probe, which allows for accurate measurements in high
grade mineralized zones. The Triple Gamma probe is preferred in zones of high
grade mineralization.
Split core samples from the mineralized section of core will be taken
continuously through the mineralized intervals and submitted to SRC
Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of
Saskatoon for analysis, which includes U3O8 (wt %) and fire assay for gold. All
samples sent for analysis will include a 63 element ICP-OES, uranium by
fluorimetry and boron. Assay results will be released when received.
Patterson Lake South Property
The 31,039 hectare PLS project is a 50%/50% Joint Venture held by Fission Energy
Corp. and Alpha Minerals Inc (AMW). Fission is the Operator. PLS is accessible
by road with primary access from all-weather Highway 955, which runs north to
the former Cluff Lake mine, (greater than 60M lbs of U3O8 produced), and passes
through the nearby UEX-Areva Shea Creek discoveries located 50km to the north,
currently under active exploration and development. Updated maps highlighting
the core and dual rotary drilling programs planned for PLS can be found on the
Company's website at http://www.fission-energy.com/s/pattersonlakesouth.asp.
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 Energy Corp., a qualified person.
FISSION ENERGY 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. FISSION ENERGY CORP. Common Shares
are listed on the TSX Venture Exchange under the symbol "FIS".
This press release contains "forward-looking information" that is based on
Fission's current expectations, estimates, forecasts and projections. This
forward-looking information includes, among other things, statements with
respect to Fission's development plans. The words "will", "anticipated", "plans"
or other similar words and phrases are intended to identify forward-looking
information.
Forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause Fission's actual results, level of activity,
performance or achievements to be materially different from those expressed or
implied by such forward-looking information. Such factors include, but are not
limited to: uncertainties related exploration and development; the ability to
raise sufficient capital to fund exploration and development; changes in
economic conditions or financial markets; increases in input costs; litigation,
legislative, environmental and other judicial, regulatory, political and
competitive developments; technological or operational difficulties or inability
to obtain permits encountered in connection with exploration activities; and
labour relations matters. This list is not exhaustive of the factors that may
affect our forward-looking information. These and other factors should be
considered carefully and readers should not place undue reliance on such
forward-looking information. Fission disclaims any intention or obligation to
update or revise forward-looking information, whether as a result of new
information, future events or otherwise.
ON BEHALF OF THE BOARD
Ross McElroy, President & COO
FOR FURTHER INFORMATION PLEASE CONTACT:
Fission Energy Corp.
Rich Matthews
Investor Relations
TF: 877-868-8140
ir@fission-energy.com
www.fission-energy.com
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