Kelowna, British Columbia--(Newsfile Corp. - January 10, 2022) - FISSION 3.0 CORP (TSXV: FUU) (OTCQB: FISOF) ("Fission 3" or "the Company") is pleased to announce that mobilization is underway for the 4000m seven hole winter drill program on its 100% owned Patterson Lake North "PLN" project in the southwest Athabasca Basin region of Saskatchewan, Canada. Drilling with two diamond drills will focus on the previously untested Broach Lake and N Conductor targets. PLN is one of the most advanced and highest ranked projects in F3's extensive portfolio by virtue of its proximity to the large, high-grade world class uranium deposits being advanced by Fission Uranium Corp and NexGen and having multiple untested and prospective targets for high grade uranium. Previous drilling by Fission 3 at the ~ 3 km long A1 conductor intersected basement hosted uranium mineralization supported by the presence of alteration, pathfinder elements and structural disturbance reinforcing the large-scale potential of the project. The A1 conductor remains untested to the northwest over a further 800m strike length. Follow up drilling of the A1 conductor is planned for the summer of 2022, to be guided by the ground geophysics that is currently in progress.
The orientation of five drill holes planned at Broach Lake will be based on the results of the ground geophysics that commenced in December 2021. The ground geophysics has recently identified a new third conductor at Broach Lake which will be drill tested. The ground geophysics is ongoing and is expected to refine the other Broach Lake drill targets and consists of 22 line-km of DC Resistivity and 18 line-km of Time Domain Electromagnetic (TDEM) surveying.
Ground geophysics is in progress at the A1 conductor to develop drill targets for summer 2022 drilling, consisting of 14 line-km of DC Resistivity and 4 line-km of Time Domain Electromagnetic (TDEM) surveying.
Upcoming PLN Winter Drill Program:
Broach Lake Targets:
The Broach Lake conductors are ~9 km to the north, adjacent and parallel to EM conductors of the Patterson Lake Structural Corridor, host to Fission Uranium's Triple R deposit and NexGen's Arrow Deposit.
Five drill holes planned at Broach Lake will test the two previously defined conductors, a cross cutting basement resistivity low anomaly, as well as the new third conductor.
N Conductor Targets:
The N Conductors in the northeast part of the property are interpreted as multiple parallel basement EM conductors with an overlying low resistivity zone referred to as the "Chimney" target in the lower part of the sandstone above the 1-km wide conductor complex.
Two deep drill holes will test these basement conductors beneath the sandstone hosted "Chimney" resistivity anomaly. The drill holes will test for the potential that this feature is caused by clay alteration and/or dissolution of the sandstone matrix above uranium mineralization associated with basement structures delineated by the EM conductors.
About Patterson Lake North:
The Patterson Lake North property (PLN) lies adjacent and immediately north of the Patterson Lake South property (PLS), owned by Fission Uranium Corp. where uranium mineralization has been traced by core drilling at PLS over ~3.18 km of east-west strike length in five separated mineralized "zones" which collectively make up the Triple R deposit, and where a Feasibility Study has commenced. Previous drilling at PLN by Fission 3 in 2014 identified a mineralized structure associated with the ~3 km long A1 conductor with strongly anomalous geochemistry, including uranium values, in addition to common pathfinder elements including boron, copper, nickel and zinc. Drill hole PLN 14-019 intercepted a 7.5 m interval (191.5 m - 199.0 m) of anomalous radioactivity with peak measurements up to 1450 cps (as measured by handheld spectrometer) over 0.5 m within a strongly clay altered and brecciated graphitic gneiss which assayed 0.5 m of 0.47% U3O8 within 6.0 m of 0.12% U3O8.
About Fission 3.0 Corp.
Fission 3.0 Corp. is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of the world's largest high-grade uranium discoveries. Fission 3.0 currently has 16 projects in the Athabasca Basin. Several of Fission 3.0's projects are near large uranium discoveries, including Arrow, Triple R and Hurricane deposits.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Raymond Ashley, P.Geo., Vice President, Exploration of Fission 3.0 Corp., a qualified person.
ON BEHALF OF THE BOARD
Dev Randhawa, CEO
Cautionary Statement: Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Fission 3.0 Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Fission 3 Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/109451