Fission Uranium has announced assay results from three dual-purpose holes drilled during its winter 2019 program at Patterson Lake South (PLS) in the Athabasca Basin region of northern Saskatchewan. The holes were drilled outside of the established high-grade domain of the Triple R deposit, with the goal of confirming areas of future growth and obtaining further geotechnical data for mine planning. All three holes returned substantial high-grade intervals.
Of particular note, one hole intersected 41 meters (m) of total composite uranium mineralization, including an interval of 5 m grading 22.88% U3O8 within 38 m grading 3.52% U3O8. Of additional note, two of the holes intersected strong gold mineralization associated with the uranium mineralized intervals, including a peak of 23.6 grams/metric ton gold over 0.5 m.
“As we continue to advance the Triple R, first with an underground-only prefeasibility study and then a feasibility study, it is also important to outline areas of resource growth that could positively affect economics, including extended mine life,” Fission President, COO and Chief Geologist Ross McElroy said. “These winter assays confirm the potential to grow the R780E largest mineralized zone of the Triple R deposit and highlight the most significant way we can build extra pounds.”
The uranium mineralization of the Triple R deposit occurs within the Patterson Lake Conductive Corridor and has been traced by core drilling over about 3.18 km of east-west strike in five separate mineralized zones. Through successful exploration programs completed to date, Triple R has evolved into a large, near-surface, basement-hosted, structurally controlled, high-grade deposit.
Mineralization along the Patterson Lake Corridor trend remains prospective along strike both to the east and west. Basement rocks within the mineralized trend are identified primarily as mafic volcanic rocks, with varying degrees of alteration. Mineralization is located both within and associated with mafic volcanic intrusives, with varying degrees of silicification, metasomatic mineral assemblages and hydrothermal graphite. The graphitic sequences are associated with a basement electromagnetic conductor.