Fission to Commence 25,000m, $7.3 Million Winter Exploration Program at Waterbury Lake, Athabasca Basin
Fission Energy Corp. (TSXV:FIS,OTCQX:FSSIF) and its Limited Partner, the Korea Waterbury Uranium Limited Partnership, announced that a $7.3 million winter exploration program, including 25,000m of drilling with three drills, at its flagship 40,256 ha Waterbury Lake uranium project, located in the eastern part of the Athabasca Basin, will commence in early January 2012.
Fission Energy Corp. (TSXV:FIS,OTCQX:FSSIF) and its Limited Partner, the Korea Waterbury Uranium Limited Partnership, announced that a $7.3 million winter exploration program, including 25,000m of drilling with three drills, at its flagship 40,256 ha Waterbury Lake uranium project, located in the eastern part of the Athabasca Basin, will commence in early January 2012.
As quoted in the press release:
The following summary outlines Fission’s winter 2012 exploration program:
- $7.3 million program approved by the Limited Partnership
- Utilizing three drill rigs, sixty-nine drill holes totalling an estimated 25,000m are planned. Seventy-five per cent of the planned drilling will occur at the J Zone high grade uranium discovery and a secondary target, now known as the Summit Zone (formerly Hole WAT11-153A; see press release dated August 30, 2011), located approximately 1 km to the west of the J Zone.
- Drilling will continue at other regional targets, including a total of nine drill holes at Oban, Oban North, and the new Chivas target, located approximately 5km west of the Oban Corridor. Three holes at Oban are designed to trace mineralization intersected in holes WAT11-161B and WAT11-172 from the winter 2011 program and three holes each at Oban North and Chivas will test geophysical anomalies in areas where interpreted alteration coincident with Electro Magnetic (EM) conductors.
- Five drill holes are planned at Murphy Lake, where a recently completed ground geophysical program has identified very encouraging signs of basement and sandstone alteration associated with interpreted cross-faults along a well defined conductor axis.
- Geophysical work, including Time Domain Electromagnetic (TDEM) and DC-Resistivity surveys, is planned at the Oban, Chivas, Murphy Lake, and a new area targeted for geophysical work known as Aaron Lake, located approximately 6km to the west of the Areva-Denison Midwest deposit.
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