Kelowna, British Columbia–(Newsfile Corp. – December 22, 2022) – Fission 3.0 Corp (TSV: FUU) (OTCQB: FISOF)(“Fission 3” or “the Company“) is pleased to announce it has received uranium assay results from the discovery hole PLN22-035 at Patterson Lake North (“PLN”) where off-scale radioactivity was previously reported (see Press Release Nov 21, 2022). The rushed analysis returned one continuous 15.0 m interval averaging 6.97% U3O8 including a high-grade 5.5 m interval averaging 18.6% U3O8, which further includes an ultra-high-grade core which assayed 59.2% over 1.0 m. PLN22-035 was the first of three mineralized holes completed on line 00N, in addition to a fourth mineralized hole on line 015S.
Assay results from the remaining drill holes of the fall 2022 program will be released early 2023 as they become available and finalized.
Raymond Ashley, Vice President Exploration, commented
“These initial high-grade assays from the discovery hole PLN22-035 confirm impressive uranium mineralization at the A1 Zone we discovered during our recently completed fall drill program. We are excited to build on these results as we plan for our fully funded upcoming 20 hole drill program.”
Drilling Highlights of Discovery Hole:
PLN22-035 (line 00N): mineralized intervals
- 15.0 m @ 6.97% U3O8 (257.5 m to 272.5 m), including:
- 5.5 m @ 18.6% U3O8 (260.0 m to 265.5 m), further including:
- 1.0 m @ 59.2% U3O8 (263.0 m to 264.0 m)
Table 1: Assay Results
Assay composite parameters:
1: Minimum Thickness of 0.5 m
2: Assay Grade Cut-Off: 0.05% U3O8 (weight %)
3. Maximum Internal Dilution: 2.0 m
Composited weight % U3O8 mineralized intervals are summarized in Tables 1. Samples from the drill core are split in half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK while the other half remains on site for reference. Analysis includes a 63 element suite including boron by ICP-OES, uranium by ICP-MS and gold analysis by ICP-OES and/or AAS. All depth measurements reported are down-hole and true thickness are yet to be determined but the Company estimates true thickness of the reported intervals in this news release to be close to reported intervals width.
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.
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
Telephone: 778 484 8030
ON BEHALF OF THE BOARD
Dev Randhawa, CEO