Fission Uranium hits new 'high priority' mineralized zone in large step-out

Stockhouse Editorial
0 Comments| November 4, 2013


Fission Uranium (TSX:V.FCU, Stock Forum) has confirmed the discovery of a new mineralized zone, the sixth in their recent drilling program, following a two-hole test drill on its Athabasca Basin PLS property.
 
The hit includes PLS13-118, which the company says intersected 21.5m of composite mineralization west of the initial discovery zone.
 
Ross McElroy, President, COO, and Chief Geologist for Fission, was upbeat on the discovery, to say the least,
 
"The discovery of this new zone is a tremendous mark of progress for PLS. 530m is a particularly large step-out and a successful hit of this size not only highlights the continued success of Fission exploration methodology but confirms the ongoing growth of project's potential. It's important to note that R600W is wide open for further exploration and our team is planning a strong follow up." 
 
The company says the new strike is a “high priority” for follow-up drilling.
 
The discovery hit 525m west of the R00E Zone, intersected 21.5m of mineralization over an 80.5m section (174.5m - 255.0m) including sections of moderate mineralization (R600W Zone).
 
The R600W Zone is on a 1755m trend with all five high-grade zones to the east, R00E, R390E, R585, R780, R945E and with mineralization on Line 1155E.
 
Holes PLS13-116 and PLS13-118 were drilled on line 600W, targeting a subtle radon anomaly identified north of the PL-3B EM Conductor between lines 540W to 630W that may be associated with inferred north-south cross cutting structures.
 
Fission shares rose 3.88% to $1.07 on the news.

Other players in the PLS area include NexGen (TSX:V.NXE, Stock Forum), Cameco (TSX:T.CCO, Stock Forum), and microcap player Makena Resources (TSX:V.MKN, Stock Forum).

FULL DISCLOSURE: Fission Uranium and Makena Resources are Stockhouse Publishing clients, but have not paid for this article.

Tags: INDUSTRIAL METALS & MINERALS

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