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TSX-V: FIS     FSSIF:US     6F5:GR

Davy Lake, SK


The Davy Lake Property was staked in December, 2004. Currently the property comprises 19 mineral claims totalling 74,614 Ha. Davy Lake is located in the north-central part of the Athabasca Basin, and is accessible only by air. The uranium model envisioned at Davy Lake is analogous to the unconformity type mineralization associated with several known high grade uranium deposits in the eastern part of the Athabasca Basin.

In 2005-2006, a two-stage MegaTEM II airborne geophysical survey identified a 51 km long conductor. Geophysical modeling was followed by additional VTEM electromagnetic airborne and regional ground gravity surveys, completed over the past several exploration seasons. The information obtained provided in-fill data, and further helped map conductive horizons at depth near the sub-Athabasca unconformity. Additional ground geophysical programs have enabled the company to identify and further refine potential drill targets.

During the fall of 2008 a 3D tensor airborne gravity survey was flown. This high resolution survey has provided a good picture of the significant basement structures, which are an important component for the focus of unconformity hosted uranium mineralization.

In June 2010, Fission commenced a 2,000m drill program to test high priority unconformity related anomalies identified by the geophysical surveys completed in earlier years. (See news release dated June 24, 2010).