Fission Uranium (V.FCU) returns more off-scale results, connects four high-grade zones

Chris Parry Chris Parry,
0 Comments| March 24, 2014

“Just shut up already.” – Every other sector.

Fission Uranium (TSX:V.FCU, Stock Forum) has shown more off-scale results this year than the collective lineup at the U.S. ‘All You Can Eat’ National Championships. But the most recent release of data, put out early Tuesday, has taken things to a whole new level.

"The sheer strength and scale of results from PLS continue to impress us,” says Ross McElroy, President, COO, and Chief Geologist for Fission.

“Hole PLS14-187 has returned total composited off-scale width results 46% more than hole PLS14-129, which itself ranks with the top drill holes in the [Athabasca] Basin. Not only does the new hole set a new record at PLS but its location means the winter program has now succeeded in merging four high-grade zones (R390E, R585E, R780E and R945E) into one much larger one (R780E)."

The details of the hole make for interesting reading: The hole, with mineralization starting at the shallow depth of 58.5m, has returned 53.47m Total Composite "Off-scale" (>9999 cps) in 146.0m of total composite mineralization on line 660E and closes the gap between the R390E and R780E high-grade zones. This hole is still in progress at a current depth of 407m, in altered but unmineralized pelitic gneiss. All nine holes encountered wide mineralization, with seven intersecting substantial off-scale (>9999 cps) radioactivity.”

Fission says they’ll now be able to merge the R390E Zone with R780E Zone, forming a new high-grade zone with a strike length of 780m, which will be named the R780E zone going forward.

The company is fresh off the merging of zones R390E and R585E and zones R780E and R945E, making 2014 a year of not just good results, but great results for the newly awarded Prospector of the Year.

Fission stock rose 3.11% Monday, up to $1.66, continuing a run that has seen the price climb some 60% since January 1.

Fission has a market cap of $548.6 million with 330.5 million shares outstanding.

Earlier today: A Fission advisor discussed with Stockhouse why he thinks uranium will continue to rise in value.

FULL DISCLOSURE: Fission Uranium is a Stockhouse Publishing client, but has not paid for this article.


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