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Fission 3.0 (TSXV:FUU) (“Fission 3”) is pleased to announce that, subject to the completion of formal documentation, it has entered into an agreement with Azincourt Resources Inc. whereby Azincourt may earn an additional 10% in the Company’s PLN (Paterson Lake North) property by incurring exploration expenditures of not less than one million dollars within one …
Fission 3.0 (TSXV:FUU) (“Fission 3”) is pleased to announce that, subject to the completion of formal documentation, it has entered into an agreement with Azincourt Resources Inc. whereby Azincourt may earn an additional 10% in the Company’s PLN (Paterson Lake North) property by incurring exploration expenditures of not less than one million dollars within one year. A drill program is currently being prepared and will include five holes in 2000m, focusing on high-priority targets within a 700m mineralized corridor, identified during the previous drill program. This new drill program follows success at Fission 3.0’s Macusani project in Peru, with 13 of 16 holes intercepting uranium and lithium at shallow depth (see NRs dated 06/21/16, 10/17/16 and 12/21/16) and where, at its large and proximal area portfolio, Plateau Uranium announced on March 2nd, 2017, heap-leach test results showing uranium and lithium recoveries of 98-99% and 61 to 73% respectively.
As quoted in the press release:
Ross McElroy, COO, and Chief Geologist for Fission 3, commented,
“This drill program and renewed partnership with Azincourt is the latest, exciting step for Fission. It comes soon after hitting near-surface uranium and lithium mineralization in multiple holes at our Macusani project, in Peru, which is adjacent to Plateau Uranium’s Macusani projects that host large, shallow uranium and lithium deposits. Thanks to the prior drill programs we have conducted at PLN, we have already identified a 700m mineralized corridor and will be focusing all five holes on this area.”
