Initial programs to identify targets for
follow up drilling
TSX VENTURE SYMBOL : FUU
OTCQB SYMBOL :
FISOF
KELOWNA, BC, July 9, 2019 /CNW/ - FISSION 3.0
CORP. ("Fission 3" or "the Company") is
pleased to announce work programs for its Hearty Bay and Wales Lake
projects in the Athabasca Basin
region of Saskatchewan, Canada.
Both projects are prospective for hosting high-grade uranium and
the work programs will be used to identify high-priority areas for
drill testing. At Hearty Bay, experts in glaciology and
geomorphology will conduct a 10-day surface-based program with the
goal of discovering the potential source of parallel high-grade
boulder trains with values up to 3.54% U3O8.
A similar approach was used by Fission Uranium prior to discovering
the major, high-grade deposit at PLS in the Athabasca Basin. At Wales Lake, airborne and
ground geophysics surveys will be used to identify conductive
trends similar and parallel to those in the Patterson Lake
Corridor, which host the nearby Triple R (Fission Uranium Corp) and
Arrow (NexGen Energy Ltd.) high-grade uranium deposits.
Hearty Bay: 10-Day Surficial Geological Program
Glaciology and Geomorphological Work: Fission 3 will
investigate the Isle Brochet uraniferous boulder trains located
within the Hearty Bay project, using similar techniques to those
employed by Fission Uranium prior to making the discovery at
PLS. The program will include revisiting historic surface
trenches and taking numerous ice flow measurements to confirm the
ice direction that deposited the uraniferous boulder train at Isle
Brochet. These sub-parallel 1km-long dispersal trains first
discovered by historic regional prospecting where radioactive
sandstone and basement boulders registered from 500 to 10,000 CPS
total radioactivity, and assay values returned high-grade results
up to 3.54% U3O8. Glaciologists will
conduct detailed geomorphological mapping to determine ice-flow
direction, to assist with locating source of boulders.
In addition, a lake bottom spectrometer and marine acoustic
survey will be conducted by Special Projects Inc. to help trace the
boulder train below the lake and also to understand bedrock
structures. The Budget Estimate for the S2019 Program at Hearty Bay
is $620,000.
About Hearty Bay: The 100% owned Hearty Bay property
comprises 3 mineral claims with an area of 6,881 ha. The
property is located on the north edge of the Athabasca Basin, 20km west of the Fond-du-Lac uranium deposit and 60km east of
the Beaver Lodge uranium district. The Property surrounds the
historic Isle Brochet radioactive sandstone boulder trains, 1 km
long dispersal trains trending along the main ice direction and
containing up to 3.54% uranium. Approximately 600 metres to the
northeast several more radioactive boulders of both sandstone and
basement origin were discovered. Historic drilling proximal to
these boulders did not intersect any significant radioactivity, the
source remains undetermined. Strong airborne EM conductors
within the property were identified by historic surveys up-ice of
the radioactive boulder trains. In the late 1960's and 1970's
extensive boulder prospecting during uranium exploration programs
identified numerous radioactive boulder trains in the Athabasca Basin, some of which led to the
discovery of significant uranium deposits (i.e. Key Lake,
Midwest)." The discovery by Fission Uranium Corp. of the Triple R
deposit in 2012 was also made as a result of the definition, from a
high resolution airborne radiometric survey, of a radioactive
boulder train SW of Patterson Lake.
Wales Lake: Airborne and ground geophysics
Airborne VTEM Survey: Geotech Airborne Geophysical
Surveys has been contracted to complete a total 1,072 line-km of an
airborne helicopter VTEM (Versatile Time Domain Electromagnetic)
Max and Magnetic survey over Block B (663 line-km) and east side of
Block C (409 line-km). The survey is expected to be completed
by early July, 2019. The budget estimate for the VTEM
surveying is $236,000. The VTEM
survey will look for conductive trends in both of these areas
across an apparent change in strike direction based on magnetic
data from SE to NE-trending, similar and parallel to those in the
Patterson Lake Corridor.
Ground Geophysics: Discovery International Geophysics
Inc. recently completed a 3.5 line-km ground SMLTEM (Small Moving
Loop Time Domain Electromagnetic) survey over the eastern part of
Block A. The SMLTEM survey aims to resolve and detail for
possible drill testing of the previously identified conductivity
bright spots from a 2017 VTEM airborne survey.
About Wales Lake: The 100% owned Wales Lake property is
located in the south-west Athabasca Basin region ~25km to 30km west and
south of Fission Uranium Corp's flagship high-grade Triple R
uranium deposit on the PLS property. It is comprised of 3
non-contiguous blocks totaling ~35,440 hectares and is accessible
by road with primary access from all-weather Highway 955.
Similar to Fission Uranium's PLS property, Wales Lake occupies the
same stratigraphic position within the Clearwater Domain and
represents relatively shallow depth basement hosted target areas
outside of the margin of the Athabasca Basin.
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. Chief
Geologist and COO for Fission 3.0 Corp., a qualified person.
About Fission 3.0 Corp.
Fission 3.0 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. Common
Shares are listed on the TSX Venture Exchange under the symbol
"FUU" and trade on the OTCQB marketplace in the U.S. under the
symbol "FISOF".
ON BEHALF OF THE BOARD
"Ross McElroy"
_____________________________
Ross McElroy, COO
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SOURCE Fission 3.0 Corp.