Projects
Projects Overview
Fission Energy's primary exploration focus is Saskatchewan's Athabasca Basin, home of the richest uranium mines in the world. The majority of the Company's exploration properties here were acquired by staking in 2003-2004. Additional properties are held in Quebec, Alberta (western margin of the Athabasca Basin), and Peru.
High Grade Discoveries
Fission is actively exploring at two core projects in the Athabasca Basin: (1) its flagship Waterbury Lake project; and (2) its emerging Patterson Lake South project ('PLS').
In January 2010, Fission made its significant Waterbury Lake J Zone high grade uranium discovery, located immediately adjacent to Rio Tinto's (formerly Hathor Exploration) Roughrider Deposit. To date the J Zone's east-west mineralized strike length has been successfully expanded to ~578m x up to ~50m. In March 2011, the Company intersects the strongest high grade uranium intersection to date in the western part of the J Zone: 14.5m grading 7.84% U3O8, including 2.0m of 46.15%U3O8.
Preliminary results from a recent independent National Instrument 43-101 compliant resource report for the J Zone provides an estimate of an Indicated mineral resource totaling 7,367,000 lbs. based on 168,000 tonnes at an average grade of 1.99% U3O8. An additional 1,511,00 lbs. based on 150,000 tonnes averaging 0.46% U3O8 is classified as an inferred mineral resource (see January 16, 2012 news release)
An expanded four drill $9.28-million 2012 winter exploration program at the Waterbury Lake project that includes 32,630m (88 holes) of planned drilling is currently in progress (see January 26, 2012 news release)
Click here for a complete summary of the Waterbury Lake exploration project.
Paterson Lake South ('PLS') Project:
In July 2011, Fission made a high grade uranium boulder field discovery at its PLS Property. A fall follow-up trenching program provided further anomalous field measurements. A total of 123 radioactive boulders with assays as high as 36.6% U3O8 have been located. An 838m, seven hole diamond drill program took place in November-December 2011 (lab results pending).
An expanded $2.76-million, winter 2012 drill and geophysical program is currently in progress at the PLS property (see January 16, 2012 new release).
Click here for a complete summary of the PLS exploration project.