Projects

Other Projects:

Patterson Lake North (PLN)



Key Points of Interest

  • Hole PLN14-019 on the A1 conductor, drilled as part of the 2014 summer exploration program, intersected 0.047% U3O8 over 0.5m in a graphitic sulphide pelitic gneiss. 
  • Initial exploration programs confirm the prospectivity of the conductive/structural systems.
  • An 8.5 km-long northern conductor system identified, and exploration targets refined throughout the entire project area.

The Patterson Lake North ("PLN") property was acquired by staking in 2004 and became part of the Fission 3.0 Corp. portfolio as part of the Fission Uranium/Alpha Minerals agreement in December 2013. The property comprises 27,408 ha and is located immediately adjacent and to the north of Fission Uranium’s PLS high-grade uranium discovery.

On April 29, 2013, Fission Uranium Corp. and Azincourt Uranium Inc. entered into a four year property option agreement whereby Azincourt can earn up to a 50% interest in the PLN property. This agreement is now under the direction of Fission 3.0, which will continue as operator and project manager of the joint venture. As of June 30, 2016, $3,100,000 of expenditures have been funded and incurred toward the cumulative work obligation. Azincourt has earned its initial 10% interest in the project by meeting both the initial consideration and work obligation. 

Background

In December 2007, a MEGATEM airborne magnetic and EM survey was completed over the southern half of the PLN property. Results from this survey were compiled with earlier surveys, and new targets associated with a large interpreted structure located along the flank of an electromagnetic anomaly were identified. During the 2007-2008 winter season, a 6-hole, 2,796m drill program to follow-up earlier drilling and test the new target area was completed.

During 2012 ground electromagnetic and resistivity surveys were performed to better delineate conductors interpreted from earlier airborne surveys, and to search for resistivity signatures that are associated with alteration in the subsurface. A summer prospecting and sampling program concentrated on ground and airborne electromagnetic conductors. A detailed airborne radiometric amd magnetic survey covered areas of interest in the southern part of the property.

A 2013 summer/fall geophysical program budgeted at $0.53 million consisted of a VTEM Max airborne electromagnetic survey conducted over the northern half of the property, time-domain electromagnetic (TDEM) and magnetotellurics (MT) ground geophysical surveying, prospecting, rock and soil sampling, and relogging and historical drill core.  The airborne EM survey successfully discovered and outlined an eight-km long north-south trending package of conductive basement rocks.

A 2014 winter exploration program budgeted at $1.0 million consisted of  7 drill holes totalling 1988 metres, ground geophysical surveying and radon sampling.  Drilling encountered a lithological setting with structural complexity similar to that of the primary conductor at Fission Uranium's PLS project.

A subsequent 2014 summer exploration program comprised 2,130m of drilling in 6 holes, along with 95.2 km of DC Resistivity surveying. Drill hole PLN14-019, targeting the A1 conductor, returned 0.047% U3O8 over 0.5m. During Nov 2014 a borehole EM survey confirmed an EM conductor off-hole of drill hole PLN14-020.

Technical Report and Qualified Person: An independent N.I. 43-101 technical report for this property was prepared by GeoVector Management Inc., in October 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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