Fission Energy Drills Four More Vertical Step-Out Holes That Extend the J-Zone Including Intervals of 1.9m and 1.6m over 9,999 CPS
Hole WAT10-077, which represents an additional 15m westerly step out, intersected 10m of highly radioactive mineralization, including three intercepts totalling 1.90m of "off scale" radioactivity. Results for the latest holes are summarized as follows:
- Hole WAT10-077 intersected 10.0m of highly radioactive mineralization (203.0m-213.0m), including three intercepts totalling 1.90m of "off scale" radioactivity. This hole is located as a 15m step-out to the west of WAT10-073.
- Hole WAT10-79 intersected 7.5m of highly radioactive mineralization (197.0m-204.5), including 1.60m of "off-scale" radioactivity. This hole is located 10m north of WAT10-077.
- Hole WAT10-074 intersected a 3.5m wide interval of highly radioactive mineralization (197.0m-200.5m), including a 0.65m intercept of "off-scale" hand scintillometer readings. This hole is located 10m north of WAT10-073.
- Hole WAT10-075 intersected 2.0m of highly radioactive mineralization (199.5m -201.5m), including a 0.40m intercept of "off-scale" radioactivity. This hole is located 10m south of WAT10-073.
- Hole WAT10-076A located 15m to the SW of WAT10-077 intersected moderate to strong hematite and chlorite clay alteration (190.5m to 202.0m) around the unconformity (201.1m), but no anomalous radioactivity was encountered.
An updated map of the J-Zone showing the location of the latest three drill holes and a table summarizing Drill Core Hand-Held Scintillometer Readings can be found on the Company's website at http://www.fission-energy.com/s/WaterburyLake.asp
Drill Hole Summary
All holes reported herein are at a vertical orientation, and terminated within unaltered basement rocks. Given that the mineralization thus far encountered appears to be almost flat-lying, drill intercepts reported herein are approximately true thickness.
Hole WAT-077 encountered strong clay (hematite and chlorite) alteration from 188.0 to 215.0m, with moderate alteration to 230.0m. A broad interval of anomalous and variable radioactivity was encountered from 203.0m to 213.0m, with the strongest radioactivity within a 6.5m interval from 206.0 to 212.5m. Within this interval three zones recorded >9999 cps for a combined width of 1.90m. Basement rocks from 198.11 to 230.2m are variably altered meta-pelites (locally graphitic) with intermittent pegmatite rich intervals.
The hole was collared 15m west of hole WAT10-073, and completed to a depth of 275.0m, with the unconformity intersected at a approximately 198.11m.
Hole WAT10-079 encountered strong clay alteration (hematite and chlorite) from 192.2 to 209.27m, and less intensely altered down to 223.5m. A 7.5m interval of highly anomalous radioactivity was encountered from 197.0m to 204.5m, with the strongest radioactivity within a 2.5m wide interval from 198.0 to 200.5m, including a 1.6m wide interval (198.4m to 200.0m) of >9999 cps. Basement rocks are comprised of pelitic gneiss with variable alteration to 223.5m.
The hole was collared 10m north of hole WAT10-077, and completed to a depth of 305.0m, with the unconformity intersected at approximately 198.5m.
Hole WAT10-074 encountered strong to locally intense clay alteration from 183.0m to 233.5m. An interval of moderate to highly anomalous radioactivity was encountered from 196.5m to 201.5m, with the strongest radioactivity within a 3.5m wide zone (197.0m - 200.5m), with 0.65m of >9999 cps (197.35m - 198.0m). Basement rocks consist of pelitic gneiss from the unconformity to end of hole.
The hole was 10m north of hole WAT10-073, and completed to a depth of 281.0m, with the unconformity intersected at 197.0m.
Hole WAT10-075 encountered moderate clay alteration from 174.0m to 184.0m, increasing in intensity from 184.0m to 191.0m. Strong hematite and chlorite alteration was present from 195.6m to 205.5m. An interval of moderate to highly anomalous radioactivity was encountered from 198.0m to 204.5m, with the strongest radioactivity within a 2.0m wide zone (199.5m - 201.5m) with 0.40m of >9999 cps (200.9m - 201.3m.
The hole was collared 10m south of hole WAT10-073, and completed to a depth of 275.0m with the unconformity intersected at 201.0m.
Hole WAT10-076A encountered moderate to strong clay hematite alteration from 190.5m to 202.0m. An interval of weak anomalous radioactivity (max 740 cps) was encountered from 222.5m to 223.0m, associated with a graphitic fault.
The hole was collared15m south-west of hole WAT10-077, and completed to a depth of 275.0m, with the unconformity intersected at 201.1m.
All holes were radiometrically surveyed with a Mount Sopris 2GHF Triple Gamma probe. The triple gamma probe uses both a Na-I scintillation crystal and a ZP1320 High-Flux Geiger-Mueller tube pair, which allows better resolution in strongly radiometric intervals.
Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using a hand held Exploranium GR-110G total count gamma-ray scintillometer. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured, and should be used only as a preliminary indication of the presence of radioactive materials. All intersections are down-hole, core interval measurements and true thickness is yet to be determined.
Split core samples from the mineralized section of core will be taken continuously through the mineralized intervals and submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon for analysis, which includes U3O8 (wt%) and fire assay for gold, platinum and palladium. All samples sent for analysis will include a 63 element ICP-OES, uranium by fluorimetry (partial digestion) and boron. Chemical results will be released when received. Further updates will be provided.
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 Ross McElroy, P.Geol. President and COO for Fission Energy Corp., a qualified person.
FISSION ENERGY CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. FISSION ENERGY CORP. Common Shares are listed on the TSX Venture Exchange under the symbol "FIS".
This press release contains "forward-looking information" that is based on Fission's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Fission's development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Fission's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Fission disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
ON BEHALF OF THE BOARD
"Ross McElroy"
Ross McElroy, President & COO
ON BEHALF OF THE BOARD
Investor Relations
Bob Hemmerling
TF: 877-868-8140
info@fission-energy.com
www.fission-energy.com
Fission Intersects 17m of 3.99% U308 Including 7.0m Grading 7.48% U308
These latest results have extended the J-Zone to the west and north, reinforcing Fission's belief that the J-Zone represents a significant new discovery of unconformity mineralization at the Company's Waterbury Lake Project in the Athabasca Basin. Given that the drilling to date at the J-Zone for holes WAT10-63A to WAT10-073 has encountered mineralization at similar depths, suggesting a flat-lying horizontal feature, management believes the vertical drill holes represent a more accurate thickness. The J-Zone remains open at depth and along strike. Furthermore, significant potential for multiple occurrences of high-grade uranium mineralization exists to the west of the J-Zone within the 3 km long East-West Corridor identified by earlier exploration.
Fission plans to continue drilling through to spring break-up. Further results will be provided when available.
Table 1: Waterbury Lake, Athabasca Basin: J-Zone Assays
for Holes WAT10-067, 068, 069A, 070B
for Holes WAT10-067, 068, 069A, 070B
| Zone | Hole ID | From (m) | To (m) | Interval (m) | U3O8 (wt%) |
| J-Zone | WAT10-067 | No significant mineralization | |||
| J-Zone | WAT10-068 | 209.50 | 212.00 | 2.50 | 2.78 |
| Includes | 210.00 | 211.50 | 1.50 | 4.56 | |
| J-Zone | WAT10-069A | No significant mineralization | |||
| J-Zone | WAT10-070B | 194.50 | 211.50 | 17.00 | 3.99 |
| Includes | 196.50 | 203.50 | 7.00 | 7.48 | |
| Includes | 197.00 | 197.50 | 0.50 | 20.60 | |
| 214.00 | 216.50 | 2.50 | 0.15 | ||
Composite Parameters
- Minimum Thickness: 1.50m
- Grade Cut-off: 0.05 U308 (wt%)
A map of the J-Zone and tables summarizing drill hole location, core hand-held Scintillometer Readings, and complete assay results to date can be found on the Company's website at http://www.fission-energy.com/s/WaterburyLake.asp
All holes were radiometrically surveyed with a Mount Sopris 2GHF Triple Gamma probe. The triple gamma probe uses both a Na-I scintillation crystal and a ZP1320 High-Flux Geiger-Mueller tube pair, which allows better resolution in strongly radiometric intervals.
Split core samples from the mineralized section of core will be taken continuously through the mineralized intervals and submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon for analysis, which includes U3O8 (wt%) and fire assay for gold, platinum and palladium. All samples sent for analysis will include a 63 element ICP-OES, uranium by fluorimetry (partial digestion) and boron. Chemical results will be released when received.
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 Ross McElroy, P.Geol. President and COO for Fission Energy Corp., a qualified person.
FISSION ENERGY CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. FISSION ENERGY CORP. Common Shares are listed on the TSX Venture Exchange under the symbol "FIS".
Korea Electric Power Corporation (KEPCO) is a Korean government-invested diversified energy company with over $83-billion (U.S.) in assets. The company is involved in the generation, transmission and distribution of electrical power from nuclear, hydro, coal, oil and LNG sources worldwide. Korea Electric Power provides electricity to almost all households in Korea and operates 20 nuclear power plants in the country with six more under development. The company has over 30,000 employees and is listed on the Korean Stock Exchange and the New York Stock Exchange. (www.kepco.co.kr)
Korea Waterbury Uranium Limited Partnership ("KEPCO Consortium") is a consortium primarily comprised of Korean-based companies. Led by Korea Electric Power, other participating companies include Korea Hydro & Nuclear Power, Korea Nuclear Fuel Co., Hanwha Corp. and Gravis Capital Corp., a private Canadian uranium investment company.
This press release contains "forward-looking information" that is based on Fission's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Fission's development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Fission's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Fission disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
ON BEHALF OF THE BOARD
"Ross McElroy"
Ross McElroy, President & COO
Investor Relations
Bob Hemmerling
TF: 877-868-8140
info@fission-energy.com
www.fission-energy.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Fission Extends J-Zone as Latest Drilling Intersects 16m & 5.65m of Highly Radioactive Mineralization at Unconformity Including 2.16m and 4.26m Off-Scale Radioactivity
The intensity and width of radioactivity intersected in these three new drill holes, in addition to the previously announced hole WAT10-070B, combined with the confirmatory uranium assays in WAT10-063A (10.5m of 1.91% U3O8 including 1.0m grading 13.87% U3O8; see news release dated February 11, 2010) and hole WAT10-066 (12.0m of 3.64% U308, including 1.50m grading 27.38% U308, including 0.50m at 45.20% U308; see news release dated February 22, 2010), strengthen Fission's belief that the J-Zone represents a significant new discovery of unconformity mineralization at the Company's Waterbury Lake Project in the Athabasca Basin.
Of the latest three drill holes: WAT10-071 and WAT10-72C were designed to extend the J-Zone to the south and north of WAT10-070B respectively, while hole WAT 10-073 tested the J-Zone with a 15m step-out to the west of hole WAT10-070B. The high levels of radioactivity encountered in holes WAT10-070B to WAT10-073 appear to confirm a model of an approximate east-west striking mineralized zone. Eleven drill holes have now been completed at the J-Zone, with nine of these holes identifying high levels of radioactivity and/or uranium mineralization. All drill intersections are associated with a broad continuous zone of alteration and radioactivity extending from a few meters above the unconformity to up to 25m below the unconformity. A narrow interval of anomalous radioactivity has been intersected in hole WAT10-073 from 227.0m to 230.2m, including a 0.20m interval of >9999 cps. The J-Zone remains open at depth and along strike. Drilling is continuing.
An updated map of the J-Zone showing the location of the latest three drill holes and a table summarizing Drill Core Hand-Held Scintillometer Readings can be found on the Company's website at http://www.fission-energy.com/s/WaterburyLake.asp
Drill Hole Summary
Hole WAT-073 encountered moderate to strong clay alteration from 185.31 to 213.8m, and less intense alteration down to 240.4m. A broad interval of anomalous and variable radioactivity was encountered from 196.5m to 217.5m, with the strongest radioactivity within a 16m wide interval from 198.0 to 214.0m. Within this interval several zones recorded >9999 cps over intervals up to 0.78m. A smaller interval of radioactivity was encountered from 227.0m to 230.2m including a 0.20m wide interval of >9999 cps at 230.0m to 230.2m. Basement rocks show variable degrees of alteration down to 240.4m.
The hole was collared at a vertical orientation, 15m to the west of hole WAT10-070B. The hole was completed to a depth of 287.0m. The hole was designed to test the continuity along strike west of hole WAT10-070B. The unconformity was intersected at a approximately 202.1m.
Hole WAT10-071 encountered moderate to strong clay alteration from 188.5 to 218.63m, and less intense alteration down to 236.01m. An interval of highly anomalous radioactivity was encountered from 199.0m to 205.0m, with the strongest radioactivity within a 5.15m wide zone with 4.26m of >9999 cps. Basement rocks show variable degrees of alteration down to 242.2m.
The hole was collared at a vertical orientation, 10m to the south of hole WAT10-070B. The hole was completed to a depth of 275.0m. The unconformity was intersected at approximately 201.3m.
Hole WAT10-072C encountered moderate to strong clay alteration from 179.05 to 226.21m. An interval of moderate to highly anomalous radioactivity was encountered from 196.5m to 201.5m, with the strongest radioactivity within a 1.5m wide zone (197.0m -- 198.5m) with 0.65m of >9999 cps (197.35m -- 198.0m). Basement rocks show variable degrees of alteration down to 237.9m.
The hole was collared at a vertical orientation, 10m to the north of hole WAT10-070B. The hole was completed to a depth of 278.0m. The unconformity was intersected at 198.43m.
All holes were radiometrically surveyed with a Mount Sopris 2GHF Triple Gamma probe. The triple gamma probe uses both a Na-I scintillation crystal and a ZP1320 High-Flux Geiger-Mueller tube pair, which allows better resolution in strongly radiometric intervals.
Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using a hand held Exploranium GR-110G total count gamma-ray scintillometer. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured, and should be used only as a preliminary indication of the presence of radioactive materials. All intersections are down-hole, core interval measurements and true thickness is yet to be determined.
Split core samples from the mineralized section of core will be taken continuously through the mineralized intervals and submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon for analysis, which includes U3O8 (wt%) and fire assay for gold, platinum and palladium. All samples sent for analysis will include a 63 element ICP-OES, uranium by fluorimetry (partial digestion) and boron. Chemical results will be released when received. Further updates will be provided.
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 Ross McElroy, P.Geol. President and COO for Fission Energy Corp., a qualified person.
FISSION ENERGY CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. FISSION ENERGY CORP. Common Shares are listed on the TSX Venture Exchange under the symbol "FIS".
This press release contains "forward-looking information" that is based on Fission's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Fission's development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Fission's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Fission disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
ON BEHALF OF THE BOARD
"Ross McElroy"
Ross McElroy, President & COO
Investor Relations
Bob Hemmerling
TF: 877-868-8140
www.fission-energy.com
Fission Intersects 12m of 3.64%U308 Including Mineralization as High as 45.2% U308
Table 1: Waterbury Lake, Athabasca Basin: J-Zone Assays for Holes WAT10-064D, 065A, 066
| Zone | Hole ID | From (m) | To (m) | Interval (m) | U308 (wt%) |
| J-Zone | WAT10-064D | 211.00 | 213.50 | 2.50 | 0.10 |
| J-Zone | WAT10-065A | 203.50 | 205.50 | 2.00 | 1.62 |
| Includes | 204.00 | 205.00 | 1.00 | 3.02 | |
| 212.00 | 215.50 | 3.50 | 0.09 | ||
| J-Zone | WAT10-066 | 202.00 | 214.00 | 12.00 | 3.64 |
| Includes | 204.00 | 205.50 | 1.50 | 27.38 | |
| Includes | 204.00 | 204.50 | 0.50 | 45.20 | |
| 217.00 | 218.50 | 1.50 | 0.18 | ||
| 223.00 | 226.50 | 3.50 | 0.19 |
Composite Parameters
- Minimum Thickness: 1.50m
- Grade Cut-off: 0.05 U308 (wt%)
Other notable results include hole WAT10-065A which intersected 2.0m at the unconformity (203.5m-205.5m) grading 1.62% U308 and hole WAT10-64D which assayed 0.10% U308 over 2.0m (211.0m and 213.5m).
The J-Zone remains open at depth and along strike. Fission plans to continue drilling through February to mid-March. Further results will be provided when available.
A map of the J-Zone and tables summarizing drill hole location, core hand-held Scintillometer Readings, and complete assay results to date can be found on the Company's website at http://www.fission-energy.com/s/WaterburyLake.asp
All holes were radiometrically surveyed with a Mount Sopris 2GHF Triple Gamma probe. The triple gamma probe uses both a Na-I scintillation crystal and a ZP1320 High-Flux Geiger-Mueller tube pair, which allows better resolution in strongly radiometric intervals.
Split core samples from the mineralized section of core will be taken continuously through the mineralized intervals and submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon for analysis, which includes U3O8 (wt%) and fire assay for gold, platinum and palladium. All samples sent for analysis will include a 63 element ICP-OES, uranium by fluorimetry (partial digestion) and boron. Chemical results will be released when received.
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 Ross McElroy, P.Geol. President and COO for Fission Energy Corp., a qualified person.
FISSION ENERGY CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. FISSION ENERGY CORP. Common Shares are listed on the TSX Venture Exchange under the symbol "FIS".
Korea Electric Power Corporation (KEPCO) is a Korean government-invested diversified energy company with over $83-billion (U.S.) in assets. The company is involved in the generation, transmission and distribution of electrical power from nuclear, hydro, coal, oil and LNG sources worldwide. Korea Electric Power provides electricity to almost all households in Korea and operates 20 nuclear power plants in the country with six more under development. The company has over 30,000 employees and is listed on the Korean Stock Exchange and the New York Stock Exchange. (www.kepco.co.kr)
Korea Waterbury Uranium Limited Partnership ("KEPCO Consortium") is a consortium primarily comprised of Korean-based companies. Led by Korea Electric Power, other participating companies include Korea Hydro & Nuclear Power, Korea Nuclear Fuel Co., Hanwha Corp. and Gravis Capital Corp., a private Canadian uranium investment company.
This press release contains "forward-looking information" that is based on Fission's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Fission's development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Fission's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Fission disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
ON BEHALF OF THE BOARD
"Ross McElroy"
Ross McElroy, President & COO
Investor Relations
Bob Hemmerling
TF: 877-868-8140
info@fission-energy.com
www.fission-energy.com
Fission Intersects 13.5m of Highly Radioactive Mineralization at Unconformity, Including 7.5m Off-Scale Radioactivity
The latest four drill holes: WAT10-067 to WAT10-70B, were designed to test the J-Zone to the north and south (holes WAT10-067-WAT-069A), and to the west (hole WAT10-070B) of discovery hole WAT10-063A. The high levels of radioactivity encountered in hole WAT10-070B appear to confirm a model of an approximate east-west striking mineralized zone. To date, eight drill holes have been completed at the J-Zone, with six of the holes identifying high levels of radioactivity and/or uranium mineralization. Five of these drill intersections are associated with the unconformity, while the sixth is comprised entirely of basement hosted mineralization. The J-Zone remains open at depth and along strike. Drilling is continuing.
A map of the J-Zone and table summarizing the Drill Core Hand-Held Scintillometer Readings can be found on the Company's website at http://www.fission-energy.com/s/WaterburyLake.asp
Drill Hole Summary
Hole WAT-070B encountered intense hematite and limonite clay alteration from 191.12m to 218.45m, with chlorite alteration persisting to 230.0m down hole. Continuous anomalous radioactivity of 300 cps to >9999 cps was intersected from 194.5m to 225.5m (31.0 m total). The degree of radioactivity within this interval is highly variable. At the unconformity, a 13.5m interval of continuously high radioactivity was intersected from 196.5m to 210.0m, with discrete intervals of >9999 cps, totaling 7.5m. Clear identification of the unconformity is obscured by the intense alteration and mineralization. Core recovery for the interval 197.0 to 200.0m, with "off-scale" radioactivity, was approximately 66%. Core recovery for the balance of the mineralized interval approaches 100%. Down hole probe results confirm the continuity of high radioactivity across the entire interval.
The hole was collared 15m to the west of the vertical projection of the mineralization within hole WAT10-063A and oriented as a vertical hole. The hole was completed to a depth of 282.0m. The hole tested the presumed westerly strike extension of the high-grade uranium mineralization intersected in WAT10-063A.
Hole WAT10-068 encountered strong clay alteration from 190.0m to 221.0m. An interval of anomalous and highly variable radioactivity was encountered from 208.0 to 212.0m, with the strongest radioactivity within a 1.3m interval from 210.2 to 211.5m, at the unconformity. Radiometric counts within this 1.3m interval ranged from 8000 cps to >9999 cps. Basement rocks show variable degrees of alteration down to 248.0m.
The hole was collared from the same set-up location as WAT10-066 and oriented at an azimuth and dip of 328.5° / -71.3°. The hole was completed to a depth of 254.0m. The hole was designed to test the continuity of mineralization to the north of WAT10-063A. The unconformity mineralization intersected, extends the interval of high radioactivity intersected in WAT10-065A a further 25 m to the north. The unconformity was intersected at a depth of 211.4m.
Hole WAT10-067 encountered moderate clay alteration from 200.91m to 223.5m. No anomalous radioactivity is present within the interval. Basement rocks show variable degrees of alteration to 258.72m.
The hole was collared from the same set-up location as WAT10-066 and oriented at an azimuth and dip of 332° / -84.3°. It was completed to a depth of 326.0m with the unconformity intersected at a depth of 205.52m.
Hole WAT10-069A encountered moderate to strong clay alteration from 189.9m to 200.0m. No anomalous radioactivity is present within the interval. Basement rocks show variable degrees of alteration from 224.0m to 250.0m.
The hole was collared 15m to the NW of WAT10-067 and oriented at an azimuth and dip of 329° / -71.4°. It was completed to a depth of 269.0m with the unconformity intersected at a depth of 208.9m.
All holes were radiometrically surveyed with a Mount Sopris 2GHF Triple Gamma probe. The triple gamma probe uses both a Na-I scintillation crystal and a ZP1320 High-Flux Geiger-Mueller tube pair, which allows better resolution in strongly radiometric intervals.
Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using a hand held Exploranium GR-110G total count gamma-ray scintillometer. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured, and should be used only as a preliminary indication of the presence of radioactive materials. All intersections are down-hole, core interval measurements and true thickness is yet to be determined.
Split core samples from the mineralized section of core will be taken continuously through the mineralized intervals and submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon for analysis, which includes U3O8 (wt%) and fire assay for gold, platinum and palladium. All samples sent for analysis will include a 63 element ICP-OES, uranium by fluorimetry (partial digestion) and boron. Chemical results will be released when received. Further updates will be provided.
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 Ross McElroy, P.Geol. President and COO for Fission Energy Corp., a qualified person.
FISSION ENERGY CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. FISSION ENERGY CORP. Common Shares are listed on the TSX Venture Exchange under the symbol "FIS".
This press release contains "forward-looking information" that is based on Fission's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Fission's development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Fission's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Fission disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
ON BEHALF OF THE BOARD
"Ross McElroy"
Ross McElroy, President & COO
Investor Relations
Bob Hemmerling
TF: 877-868-8140
info@fission-energy.com
www.fission-energy.com