On March 12, Fission Uranium released phased results that have been achieved in the 2019 winter exploration plan.
High-grade mineralization was found in all three boreholes in the R780E area.
? 41.0m mineralization was found in the PLS19-PW-09 borehole, of which 4.52 m >10,000 cps;
? 47.5m mineralization was found in the PLS19-PW-10 borehole, of which 3.98 m >10,000 cps;
? 71.5m mineralization was found in the PLS19-PW-08 borehole, of which 2.00 m >10,000 cps;
The winter plan aims to advance the feasibility study of the 3R project by focusing on the necessary resource development. Starting in the first week of February, the exploration mainly involved 3,730m drilling of 28 boreholes and engineering studies necessary to reach the feasibility study stage. Three boreholes have been drilled for improving rock geological engineering and resource amount. With the completion of drilling, Fission will focus on drilling of circular cofferdam and boundary wall boreholes, and pumping test and monitoring boreholes.
Fission Uranium Corp.
Fission Uranium Corp. (“Fission”) is a Canadian natural uranium exploration company that is now listed on the Main Board of the Toronto Stock Exchange (stock code: FCU.TO). As the largest single shareholder of Fission, CGN is currently holding a 19.9% stake in Fission, and 20% underwriting rights of Fission’s natural uranium products and an additional 15% product underwriting options.
Fission owns a 100% equity interest in the Patterson Lake South Project (“PLS project”). The PLS project is located in the southwest of the Athabasca Basin in Saskatchewan, Canada. The 3.18km-long mineralization zone is the longest high-grade uranium mineralization continuous zone in the basin. At present, the main mine body identified in the PLS project is the 3R uranium mine.
The 3R uranium mine is high-grade with unconformity profile. The mine body is completely distributed in the basement stratum below the unconformity surface. With good engineering geological conditions, the main uranium mine body is buried at a depth of 150m only. It is planned to make comprehensive use of open-pit and underground mining methods for development in the future.