Fission Uranium is a Canadian-based resource company focused on the exploration and development of the Patterson Lake South uranium property.

Fission Uranium (TSX:FCU,OTCQX:FCUUF,FWB:2FU), has announced the commencement of preparations for a C$6.4-million summer work program at its PLS project in Canada’s Athabasca Basin. The summer field program is designed to complete all remaining resource and geotechnical drilling required for a pre-feasibility study. The post- field program will focus on compilation of all technical inputs in order to complete and deliver a PFS by Q4 2018.

As quoted from the press release:

Fission has retained Roscoe Postle Associates to serve as the lead consultant for the completion of a PFS and to author a NI 43-101 technical report to support the disclosure of the PFS. RPA will directly carry out the mine development plan and provide overall project management services to oversee and coordinate inputs from all technical contributors to the PFS. RPA will be supported by several highly-regarded engineering and consulting firms that have relevant specialization and experience in geotechnical, metallurgical, environmental aspects of large scale uranium mining operations in northern Saskatchewan, many of which have a long-term working relationship with Fission and the PLS project.

Completing Field Work for PFS: 14 holes (3,425m) will continue to advance the resource development of the Triple R deposit to PFS level.

  • Upgrade resource classification for important high-grade, high-impact areas of the R780E zone from inferred to indicated category (9 holes in 2,925m). Drilling of these holes is expected to convert all of the high-grade domain of the R780E zone, which is anticipated to have a positive impact on the PFS.
  • Geotechnical drilling of overburden for a proposed tailings management area (5 holes in 500m)
  • Continue monitoring hydrogeological holes required for long-term ground-water analysis
  • Complete the Phase 2 metallurgical study
  • Continuation of data collection and analysis of the baseline environmental study
  • Continuation of engagement with First Nations, community and government

    “Our goal is to deliver a PFS report by Q4 2018 on the PLS project. We remain on target and budget to do so. The focus of the summer field program is to complete all resource and geotechnical drilling to provide data to be able to meet this objective. The completion of a PFS on the Triple R deposit will be a major milestone towards the potential of eventual mining at PLS. The Triple R deposit is the largest, most significant near surface high-grade uranium deposit in the Athabasca basin district,” said Ross McElroy, President, COO, and chief geologist for Fission.

Click here to read the full pres release



S&P 5003764.79+89.95


Heating Oil4.14-0.09
Natural Gas6.67-0.13