Ross McElroy on Fission’s Latest Drill Results

This week, Fission Uranium (TSXV:FCU) released the latest step-out drill results from its Triple R deposit, reporting off-scale radiation on land 555 meters west of the Triple R deposit.

The company was on the show floor at the 2015 PDAC International Convention, Trade Show & Investors Exchange, where Resource Investing News caught up with Fission’s president and COO, Ross McElroy, to talk about the results. “It’s a big step out and it’s a big zone,” he said. “It very much looks like the rest of the Triple R deposit. It’s … more of the same, and the fact that it’s such a big step out away from that deposit and yet on that trend is extremely prospective for us.”

While further drilling will be necessary to see if the mineralization encountered at hole PLS15-343 is connected to the main deposit at Patterson Lake South or whether it’s a separate pod, McElroy suggested that the results are positive either way. “Hopefully it’s part of the deposit, but if nothing else it’s still very close to it,” he said.

After the interview, McElroy added that Fission will focus more drilling in the area. Check out the video below for more of what he had to say.

Interview Transcript

RIN: I’m Teresa Matich with Resource Investing News. Here with me today is Ross McElroy, president, COO, and chief geologist at Fission Uranium. Ross, thank you for joining me.

RM: Thank you very much. It’s a pleasure.

RIN: So, Fission just released some big news. Can you talk a little bit about that?

RM: Yeah. We’ve just released some at our hole 343 on the project. It’s a 550-meter step out along our already prospective trend that hosted that Triple R deposit. It’s a big step out and it’s a big zone. So 65.5 meters of mineralization over 9 meters of what we call off-scale which is very high-grade uranium mineralization within that zone.

So, what it looks like to me it very much looks like the rest of the Triple R deposit. It’s sort of more of the same, and the fact that it’s such a big step-out away from the deposit, and, yet, on that trend, is extremely prospective for us, so, we’re really, really happy.

RIN: Any ideas what that means for the size of the PLS deposit now?

RM: Well, further drilling is necessary in order to see somehow it’s connected to the main deposit or if it’s a separate pod, I mean, 550 meters is quite a distance between the two.  We don’t know how that all fits together but it is along the same trend, it’s a same structure, the geology looks very much the same, the mineralization is the same. So, hopefully, it’s part of the deposit. But, if nothing else, it’s still very close to it and it represents right now its own drill target so we’re going to continue to put holes into this and just see what it’s all about but it’s basically a new discovery, if you want, on the trend a little further to the east, so, we couldn’t be happier with it.

RIN: That’s great. Was that something you were expecting?

RM: We already had five holes in the area that we knew were anomalous that we had drilled back in the summer of 2013. They all had lower-grade mineralization. Some good widths to them, the best result was 6.5 meters of 0.29 percent U308. But, I guess, relatively lower grade compared to the rest of the Triple R deposit, but, now, this hole in that same area is a real game changer for that zone. So, it puts it into the elite status similar to the rest of the deposit. So, we expect good high-grade results of that.

RIN: Great. And, finally, what does this mean for your exploration program? Is it going to continue as normal? Do you see more in the future or…?

RM: Yeah, it really was a step out in the exploration sense, so away from the deposit, to see how prospective it is along the same conductive trend, along other conductors, and it really just shows that the PLS project is in its very early stages and it’s still giving surprises along the way.

So, I think it opens up the exploration potential along this conductor. It just shows it is very prospective along bigger areas that we could’ve imagined.

RIN: Thanks for joining me, Ross.

RM: Thank you very much.

RIN: I’m Teresa Matich with Resource Investing News.

Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

Related reading:

Fission Drills More High-grade Results at Triple R

PDAC 2015: Notes from the Floor