|3/6/2015 by mdc|
|Patterson Lake Area is host to the Triple R deposit - the largest undeveloped uranium deposit in Canadian Athabasca Basin District, which in turn is host to the richest producing uranium mines in the world. Growth at the Triple R deposit, and exploration elsewhere on the Fission property, is driven by a highly skilled, award-winning technical team and successful entrepreneurial management. Fission Uranium has 100 per cent ownership of the PLS Property, which comprises 17 claims totaling 31,039 ha located on the southwest margin of the Athabasca Basin. The property is accessible by all-weather Highway 955 which continues north through the area of the UEX-AREVA Shea Creek discoveries to the past producing Cluff Lake uranium mine.|
PLS Discovery Highlights include -
1. Fission controls the largest undeveloped deposit in the Athabasca Basin, such as -
79.6 million lbs U3O8 as Indicated, including 44.3M lbs Indicated at 18.21 per cent U3O8 25.9M lbs Inferred, including 13.9M lbs Inferred at 26.35 per cent U3O8.
2. The current indicated and inferred mineral resources are stated using a cut-off grade of 0.1 per cent U3O8.
3.The deposit is at shallow depth, basement-hosted, structurally controlled, high-grade uranium deposit.
4. From Discovery to Resource Estimate, the Triple R Deposit was achieved in just two years of drilling.
5. Open in several directions and at depth, including the two zones in the resource, from west to east, the four mineralized zones discovered so far.
6. Up to and including drilling from the summer-fall 2014 program, 224 delineation holes have been drilled, with 218 holes intersecting mineralization for a 97.3 per cent success hit ratio.