Drill Holes Designed to Test for Expansion of the A-1 High-Grade Mineralized Zone
Kelowna, British Columbia--(Newsfile Corp. - January 3, 2023) - Fission 3.0 Corp (TSV: FUU) (OTCQB: FISOF) ("Fission 3" or "the Company") is pleased to announce that mobilization for winter drilling has commenced at its 100% owned Patterson Lake North ("PLN") project. A 20-hole program of step out drilling is planned to expand on the highly successful drill results from November 2022 where assays confirmed shallow depth, wide and continuous mineralization in basement rock with 15.0 m @ 6.97% U3O8 including a high-grade 5.5 m interval averaging 18.6% U3O8 (PLN22-035) (see Press Release Dec 22, 2022).
Drill holes are designed to test for continuation of mineralization along strike, and up and down dip, where four holes drilled in the fall 2022 outlined a very significant zone of high-grade uranium, which remains open in all directions.
Raymond Ashley, Vice President Exploration, commented:
"The Fission 3 technical team draws from previous experience with resource definition and zone expansion drilling of basement hosted mineralization at Fission Uranium's Triple R deposit at Patterson Lake South, as well as unconformity-type mineralization from its work at Fission Energy's J Zone deposit at Waterbury Lake. We are eager to set about to learn the controls on the mineralization and to grow and establish the potential size of this new zone."
The plan will include additional holes on section lines 00N and 15S to establish the extent of the mineralization that has already be intersected on those 2 lines before stepping out along strike. Holes will also test up-dip for unconformity and sandstone hosted mineralization.
Assay results from the remaining drill holes of the fall 2022 program will be released as they become available and finalized.
About Patterson Lake North:
The Company's large 39,946 hectare 100% owned Patterson Lake North property (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Fission Uranium's Triple R and NexGen Energy's Arrow high-grade world class uranium deposits which is poised to become the next major area of development for new uranium operations in northern Saskatchewan. PLN is accessed by Provincial Highway 955, which transects the property, and the new A1 uranium discovery is located 23km northwest of Fission Uranium's Triple R deposit.
Qualified Person:
The technical information in this news release has been prepare in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and approved on behalf of the company by Raymond Ashley, P.Geo., Vice President of Exploration of Fission 3.0 Corp., a Qualified Person. Mr. Ashley has verified the data disclosed.
About Fission 3.0 Corp.:
Fission 3.0 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 discovery. Fission currently has 16 projects in the Athabasca Basin. Several of Fission 3's projects are near large uranium discoveries, including Triple R, Arrow and Hurricane.
Forward Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are "forward-looking statements." These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.
Fission 3.0 Corp. Contact Information
Investor Relations
Telephone: 778 484 8030
Email: ir@fission3corp.com
ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/150130