The cut-off grades are based on price of US$50/lb U 3 O 8 and an exchange rate of US$0.75/C$1.00.Ī minimum mining width of 1.0 m was used. Mineral Resources are reported at a cut-off grade of 0.25% U 3 O 8. In terms of further growth, the deposit remains open in multiple directions, and we do of course have another two mineralized zones along trend which are still classified as primarily Inferred resources." Summary of Triple R Mineral Resources by Zone – May 17, 2022ĬIM (2014) definitions were followed for Mineral Resources. It's important to note that much of the growth has come from the R840W zone, the majority of which is now classified as Indicated, which will allow for inclusion in the new FS mine plan. The increased resource estimate of the Triple R deposit at PLS will play an important role in the calculations used for the feasibility study, the results of which are expected by year end. Ross McElroy, President and CEO for Fission, commented, "Fission's resource growth program has been a resounding success. The new, larger resource is primarily due to the successful infill drilling programs on the R780E and R840W zones from 2019 to 2021 and will be fundamental to the Feasibility Study (FS), including life of mine (LOM) calculations and processing schedule. Total Indicated tonnes have increased by ~21.3% ( ~472,000 tonnes) compared to the previous Mineral Resource (dated Septem), with an associated increase of approximately 12.3% in contained U 3 O 8 and a minor decrease in grade from 2.10% U 3 O 8 to 1.94% U 3 O 8. 12, 2022 /CNW/ - 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 includes the R1515W, R840W, R00E, R780E and R1620E zones at its 100% owned, Patterson Lake South (PLS) property in Canada's Athabasca Basin region.
New resource estimate will be instrumental in updating life of mine and other economics in the Feasibility Study Add the project’s access to infrastructure, such as its accessibility by the all-weather Highway 955 and its location in the mining-friendly province of Saskatchewan, and you see there’s a lot to like about Fission’s Triple R deposit.įollowing the news, FCU shares are up 2 cents and are currently trading at $0.56.Fission Drilling Increases Indicated Resources by 21% Tonnes & 12.3% Pounds U3O8 Remains on Schedule to Complete Feasibility Study in Q4, 2022Ĭanada TSX SYMBOL: FCU OTCQX SYMBOL: FCUUF FRANKFURT SYMBOL: 2FU A combination of low-cost and high-grade is never a bad thing. Substantial high-grade mineralization starts just 50m from the surface at the Triple R deposit, making it the shallowest deposit in the Athabasca Basin.įission’s Pre-Feasibility Study showed that the PLS Project could be one of the cheapest uranium projects in the world. What makes Fission’s PLS Project interesting is not just the grades of the uranium found, but also the depth: the deposit is much shallower than is typical. Specifically, they have the potential to expand the size and quality of the resource from the R780E zone to be used in our upcoming feasibility study,” stated Ross McElroy, President and CEO of Fission. “These successful, robust drill results are a strong validation of our growth strategy for the deposit.
40.0m of total composite uranium mineralization with key Intercepts including:.70.0m of total composite uranium mineralization with key Intercepts including:.62.5m of total composite uranium mineralization with key intercepts including:.69.5m of total composite uranium mineralization with key intercepts including:.The biggest highlights from the assay results were: Fission plans on using these drill results as part of an upcoming feasibility study. The drilling of the 20 holes totaled 7,147.8m and was sufficiently spaced out to qualify for ‘indicated’ status. Fission reported that all 20 holes returned wide intercepts in multiple stacked intervals in each hole, with 15 holes hitting high-grade intervals. The results are from Fission’s Triple R deposit, which is located in the Athabasca Basin, in Saskatchewan, an area famous for its uranium mines. The assays confirmed high-grade mineralization on multiple lines between line 900E and line 1125E. Fission Uranium (FCU.T) announced the assay results from their winter 2021 resource expansion drill program at their PLS Project.
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