Fission Intersects 4m Zone of High Radioactivity at Unconformity
February 08 2010 - 11:59AM
Marketwired
FISSION ENERGY CORP. (TSX VENTURE: FIS) ("Fission" or the
"Company") is pleased to update its Waterbury Lake Project winter
drill program. On January 25th, the Company reported significant
anomalous radioactivity for hole WAT10-063A, the 2nd hole of a
planned 20 hole program. Three additional drill holes have since
been completed in close proximity to WAT10-063A, to help define the
extent and geometry of the new discovery, which has been named the
"J-Zone". All three holes have intersected significant anomalous
radioactivity including a 4m interval (203.5m to 207.5m) of high
radioactivity, ranging from 500 cps to greater than 9999 cps (off
scale), in hole WAT10-066. The unconformity intersection in
WAT10-066 represents a 15m off-set to the south from WAT10-063A.
The J-Zone, which remains open at depth and along strike, may
represent a new and significant unconformity style uranium
occurrence located within the prospective East-West structural
Corridor. The East-West Corridor continues west from the J-Zone for
approximately 3 km within Fission's Waterbury Lake Property.
Evaluation of the East-West Corridor is ongoing, where a number of
new high priority targets have been identified. Fission's technical
team believes there is significant potential for multiple
occurrences of high-grade uranium mineralization within this 3 km
long corridor (See news release dated December 7, 2009).
A map of the J-Zone and table summarizing the Drill Core
Hand-Held Scintilometer Readings can be found on the Company's
website at http://www.fission-energy.com/s/WaterburyLake.asp.
Drilling is ongoing.
Drill Hole Summary
Hole WAT-066 encountered intense clay alteration from 183.6m to
207.62m, with alteration persisting to 240.5 m down hole. Anomalous
radioactivity was intersected from 203.0m to 228.5m. The degree of
radioactivity within this interval is highly variable. A 4m
interval of high radioactivity was intersected from 203.5m to
207.5m ranging from 500 cps to greater than 9999 cps. Of particular
interest is a 1.1m wide interval immediately below the unconformity
from 204.2 to 205.3m which measured greater than 9999 cps.
The hole was collared 95m to the south of WAT10-063A and
oriented at an azimuth and dip of 330 degrees / -80.7 degrees. The
hole was completed to a depth of 320.0m. The hole was designed to
test the dip of the anomalous zone of radioactivity intersected in
WAT10-063A. The unconformity was intersected at a depth of
204.3m.
Hole WAT10-065A encountered strong clay alteration from 179.0m
to 202.0m, increasing in intensity and associated with secondary
hematite from 202.0 to 211.61m. An interval of anomalous and highly
variable radioactivity was encountered from 203.0 to 223.0m, with
the strongest radioactivity within a 1.5m interval from 203.5 to
205.0m, at the unconformity. Radiometric counts within this 1.5m
interval ranged from 1120 cps to greater than 9999 cps. Basement
rocks comprise primarily pelitic gneiss with variable
pegmatite-rich zones. Rocks show variable degrees of alteration
down to 325.57m.
The hole was collared from the same set-up location as WAT10-066
and oriented at an azimuth and dip of 326 degrees / -78 degrees.
The hole was completed to a depth of 334.0m. Similar to hole
WAT10-066, the hole was designed to test the dip of the anomalous
zone of radioactivity intersected in WAT10-063A. The unconformity
was intersected at a depth of 204.67m.
Hole WAT10-064D encountered moderate to strong clay alteration
from 203.0 to 219.5m. An interval of anomalous radioactivity is
present from 211.5 to 222.5m. The degree of radioactivity within
this interval is variable with readings from less than 300 cps up
to 2000 cps. The strongest zone of radioactivity is within a 1.0m
wide interval from 211.5 to 212.5m with readings up to 2000 cps.
Basement rocks from the unconformity to 302.2m are comprised of
variable pelitic and semi-pelitic granofels and gneiss with
interspersed pegmatite-rich intervals. Below 302.2m, the basement
rock is comprised of quartz-feldspar gneiss.
The hole was collared 32m to the NE of WAT10-063A and oriented
at an azimuth and dip of 195 degrees / -73 degrees. It was
completed to a depth of 341.0m with the unconformity intersected at
a downhole depth of 208.0m.
Holes WAT10-064D to WAT10-066 were radiometrically surveyed with
a Mount Sopris 2PGA-1000 Gamma/SP probe. A Mount Sopris 2GHF Triple
Gamma probe was mobilized to site and used for hole WAT10-066. The
triple gamma probe uses both a Na-I scintillation crystal and a
ZP1320 High-Flux Geiger-Mueller tube pair, which allows better
resolution in strongly radiometric intervals.
Natural gamma radiation in drill core that is reported in this
news release was measured in counts per second (cps) using a hand
held Exploranium GR-110G total count gamma-ray scintillometer. The
reader is cautioned that scintillometer readings are not directly
or uniformly related to uranium grades of the rock sample measured,
and should be used only as a preliminary indication of the presence
of radioactive materials. All intersections are down-hole, core
interval measurements and true thickness is yet to be
determined.
Drill core samples from the mineralized section of core will be
submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025:
2005 Accredited Facility) of Saskatoon for analysis, which includes
a 63 element ICP-OES, uranium by fluorimetry (partial digestion)
and boron. Chemical results will be released when received. Further
updates will be provided.
The technical information in this news release has been prepared
in accordance with the Canadian regulatory requirements set out in
National Instrument 43- 101 and reviewed on behalf of the company
by Ross McElroy, P.Geol. President and COO for Fission Energy
Corp., a qualified person.
FISSION ENERGY CORP. is a Canadian based resource company
specializing in the strategic acquisition, exploration and
development of uranium properties and is headquartered in Kelowna,
British Columbia. FISSION ENERGY CORP. Common Shares are listed on
the TSX Venture Exchange under the symbol "FIS".
This press release contains "forward-looking information" that
is based on Fission's current expectations, estimates, forecasts
and projections. This forward-looking information includes, among
other things, statements with respect to Fission's development
plans. The words "will", "anticipated", "plans" or other similar
words and phrases are intended to identify forward-looking
information.
Forward-looking information is subject to known and unknown
risks, uncertainties and other factors that may cause Fission's
actual results, level of activity, performance or achievements to
be materially different from those expressed or implied by such
forward-looking information. Such factors include, but are not
limited to: uncertainties related exploration and development; the
ability to raise sufficient capital to fund exploration and
development; changes in economic conditions or financial markets;
increases in input costs; litigation, legislative, environmental
and other judicial, regulatory, political and competitive
developments; technological or operational difficulties or
inability to obtain permits encountered in connection with
exploration activities; and labour relations matters. This list is
not exhaustive of the factors that may affect our forward-looking
information. These and other factors should be considered carefully
and readers should not place undue reliance on such forward-looking
information. Fission disclaims any intention or obligation to
update or revise forward-looking information, whether as a result
of new information, future events or otherwise.
ON BEHALF OF THE BOARD
Ross McElroy, President & COO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news
release.
Contacts: Fission Energy Corp. Bob Hemmerling Investor Relations
TF: 877-868-8140 info@fission-energy.com www.fission-energy.com
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