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Clearwater West



Key Points of Interest

  • The Company considers the property to be highly prospective and the target depth of any uranium mineralization is expected to be shallow, as is the case with the PLS and Patterson Lake properties.
  • High priority areas from recent airborne and ground geophysics prospective for uranium mineralization.
  • Recent drill intersections of anomalous radioactivity within graphitic metapelites.
  • Fission Uranium Corp. Discovers Significant Anomaous Radioactivity 330m north of Fission 3.0’s Clearwater West Property Boundary.

The Clearwater West property was acquired by Fission Energy Corp. on December 18, 2012 and became part of the Fission 3.0 Corp. portfolio as part of the Fission Uranium/Alpha Minerals agreement in December 2013. It comprises three contiguous claims covering 11,786 hectares. The claims fall within the same NE-SW-oriented magnetic low corridor that hosts the PLS high-grade uranium discovery. The uranium mineralization model that is envisioned on the Clearwater West property is analogous to the structurally controlled Athabasca Basin unconformity deposits, which are generally associated with hydrothermally altered, structurally controlled metasedimentary lithology which appear as magnetic lows on geophysical surveys.

Background

A Year One exploration program budgeted at $0.7 million was conducted in 2013 and early 2014 consisting of property-scale VTEM airborne magnetic/electromagnetic surveying and high-resolution airborne magnetic/radiometric surveying. The VTEM conductor responses consisted of numerous predominantly NE-SW strike direction trends. Based on the VTEM AutoTau, a large number of target areas were apparent. Of these, 3 high priority areas were selected that show significant changes in conductor strike directions.

During summer 2014 a budgeted program of $30,000 comprised a geological prospecting team that completed 80 km of field traverses, following up on anomalous responses from the high resolution airborne radiometric/magnetic survey. Priority for prospecting was given to clustering anomalies, possibly representing boulder fields, which were located down-ice of 2014 VTEM basement conductors. From 139 prospected sites, 14 rock samples were taken for further analysis.

In the fall of 2014 and early winter of 2015, a $325,000 ground geophysics program involved 21 km of DC Resistivity and 17 km of Moving Loop Time Domain EM. The surveys were successful in further refining priority conductor areas defined in the 2014 VTEM survey.

Based on the previous work herein described, an $817,200 seven hole drill program was planned for summer 2015. Three holes totalling 537m were completed. Favourable geological environments consisting of graphitic metapelites, structural disruption and hydrothermal alteration were encountered, with one hole returning 4 intervals of anomalous radioactivity with a max peak of 410 cps over 0.5m.

Technical Report and Qualified Person:  An independent N.I. 43-101 technical report for the Clearwater West property was prepared by GeoVector Management Inc. in March 2013. The technical information in this website has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Ross McElroy, P.Geol., President and COO for Fission 3.0 Corp., a Qualified Person.

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