Fission Uranium (TSX: FCU) is leaning in heavily on exploration this season, announcing two separate drill programs this morning that are to take place at its PLS uranium project in the Athabasca Basin.
The first program, a 15-hole, 6,650 metre regional program, is geared towards following up on priority targets identified this past winter at the project. Five holes from the program will be focused at the Saloon Target, which is found on a parallel shear zone to the zone that hosts the Triple R deposits. Radioactivity has been identified over a 220 metre strike so far at the zone.
Four holes are also planned for the Pistol Target, which is believed to have mineralization similar to NexGen’s Arrow deposit, while three holes will be conducted at each of the East Extension and the Saddle targets.
The second program is to consist of 5,830 metres of drilling that will be conducted over 19 holes at the R1515W high grade zone, part of the Triple R deposit. This program is to focus on infill drilling with the goal of upgrading the resource from indicated to inferred, enabling the mineralization to be used in the current mine plan. The zone currently has an indicated resource of 1.7 million pounds of U3O8 at a grade of 1.15%, and inferred resources of 5.0 million pounds of U3O8 at a grade of 0.96%.
Drilling is currently slated to begin in May.
Fission Uranium last traded at $1.06 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
