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Fission Uranium Corp. announced results from its final drill holes completed during the winter program at its’ PLS property, in Canada’s Athabasca Basin region.
Fission Uranium Corp. (TSX:FCU) announced results from its final drill holes completed during the winter program at its’ PLS property, in Canada’s Athabasca Basin region.
As quoted in the press release:
These include six resource-upgrade holes, which intercepted wide, high-grade radioactivity, including PLS18-573 (line 510E), which returned 11.65m of total composite >10,000 cps in 119.0M of total composite mineralization. In addition, nineteen geotechnical holes including three rock mechanic and sixteen overburden holes were completed along with two hydrogeology holes as Fission continues to acquire and evaluate data for the PLS pre-feasibility study “PFS” planned to be completed by the end of 2018.
Highlights are as follows:
- A total of six in-fill holes (1,915m) targeted key high-grade areas of the R780E zone, which are presently classified as inferred, with the intent to upgrade those areas to indicated. It is anticipated that upgrading key areas of the resource from inferred to indicated would have a positive impact on the resource used for the PFS.
- All six resource upgrade holes hit wide, high-grade mineralization, including hole PLS18-573 (line 510E)
- 119.0m total composite mineralization over a 177.0m interval (between 59.5m – 236.5m), including
- 11.65m of total composite mineralization >10,000 cps
- 119.0m total composite mineralization over a 177.0m interval (between 59.5m – 236.5m), including
- Geotechnical drilling and analysis of rock mechanics in bedrock (3 holes totaling ~703m) in the proposed R780E open pit area
- Geotechnical drilling of overburden where a proposed ring dike surrounding the open-pit perimeter would be located (16 holes totaling 1,028m)
- Re-drill hydrogeological holes required for long-term ground-water analysis (2 holes totaling 240m)
- Continuation of 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
The geotechnical program is important because any mine design contemplated at the “PEA” level (as completed 2015) is to a great degree, conceptual in nature. The winter 2018 geotechnical program has acquired data needed to confirm important assumptions, which, in turn, will further de-risk the project. All aspects of the winter geotechnical program were successfully completed, and preliminary results support the assumptions made for the PEA, particularly regarding physical properties of the overburden and low incidence of boulders within the glacial till. Analysis will continue during 2018.
Ross McElroy, president, COO, and chief geologist for Fission, commented:
The Winter program has been a great success. As previously announced our exploration efforts have resulted in expanding the footprint of the R1515W zone with multiple high-grade step outs and now the PFS focused activities are likewise producing encouraging results: six in-fill holes designed to upgrade key areas of the Triple R deposit from inferred to indicated classification all intersected mineralization where projected. In addition, a series of detailed overburden and bedrock geotechnical holes tested their targets successfully and preliminary results indicate that the assumptions made with respect to mine design at the Preliminary Economic Assessment “PEA” level were reasonable, with detailed analysis and implementation into the mine design continuing over the next several months.
Click here to read the full Fission Uranium Corp. (TSX:FCU) press release.
