November 30, 2022 (Source) – FISSION 3.0 CORP (TSXV: FUU) (OTCQB: FISOF) (“Fission 3” or “the Company”) is pleased to announce that the first follow-up drill hole of the new high-grade discovery in hole PLN22-035 (see Press Release Nov 21, 2022) at the 100%-owned PLN project on the A1 conductor has intersected 3.48 m of total composite mineralization with greater than 10,000 cps including 2.5 m of total off-scale radioactivity (>65,535 cps), occurring as pitchblende patches. The follow-up hole, PLN22-038, is still in progress and two additional follow-up holes of a 7-hole program are planned in the immediate vicinity of this new mineralization before the Christmas break.
Hole PLN22-038, the first follow-up hole, targeted the A1 conductor 15 m up dip from the discovery hole mineralization and is still in progress. Gyro survey data indicates that the drill hole has deviated, and the new mineralized intersection is less than 10 m away from the mineralized intersection in the discovery hole.
Drilling Highlights from First Follow Up Hole PLN22-038:
PLN22-038 (line 00N)
- 12.5 m total composite mineralization >300 cps over a 13.0 m interval (between 239.0 m to 252.0 m), including
- 3.48 m of total composite mineralization >10,000 cps over a 7.15 m interval (between 243.85 m and 250.7 m including
- 2.5 m of total off scale radioactivity (>65,535 cps) over a 3.0 m interval (between 244.0 m and 247.0 m)
- 3.48 m of total composite mineralization >10,000 cps over a 7.15 m interval (between 243.85 m and 250.7 m including
- the hole is still in progress.
Table 1: Drill Hole Summary
| Hole ID | Target | Collar | * Hand-held Spectrometer Results On Mineralized Drillcore (>300 cps / >0.5M minimum) | Basement Unconformity Depth (m) | Total Drillhole Depth (m) | ||||||
| Easting | Northing | Az | Dip | From (m) | To (m) | Width (m) | Max CPS | ||||
| PLN22-036 | A1 Conductor | 588043 | 6410208 | 53 | -60 | <300 | 154.0 | 422 | |||
| PLN22-037 | A1 Conductor | 588200 | 6410074 | 56 | -51 | <300 | 142.3 | 500 | |||
| PLN22-038 | A1 Conductor | 587684 | 6410734 | 54 | -57 | 239.00 | 239.50 | 0.50 | 310 | 214.3 | In Progress |
| 239.50 | 240.00 | 0.50 | <300 | ||||||||
| 240.00 | 240.50 | 0.50 | 310 | ||||||||
| 240.50 | 241.00 | 0.50 | 790 | ||||||||
| 241.00 | 241.50 | 0.50 | 1600 | ||||||||
| 241.50 | 242.00 | 0.50 | 1700 | ||||||||
| 242.00 | 242.50 | 0.50 | 1100 | ||||||||
| 242.50 | 243.00 | 0.50 | 1900 | ||||||||
| 243.00 | 243.50 | 0.50 | 1700 | ||||||||
| 243.50 | 243.85 | 0.35 | 5200 | ||||||||
| 243.85 | 244.00 | 0.15 | 10100 | ||||||||
| 244.00 | 244.50 | 0.50 | >65535 | ||||||||
| 244.50 | 244.80 | 0.30 | 36600 | ||||||||
| 244.80 | 245.00 | 0.20 | 7300 | ||||||||
| 245.00 | 245.50 | 0.50 | >65535 | ||||||||
| 245.50 | 246.00 | 0.50 | >65535 | ||||||||
| 246.00 | 246.50 | 0.50 | >65535 | ||||||||
| 246.50 | 247.00 | 0.50 | >65535 | ||||||||
| 247.00 | 247.50 | 0.50 | 6500 | ||||||||
| 247.50 | 247.60 | 0.10 | 7100 | ||||||||
| 247.60 | 247.68 | 0.08 | 10400 | ||||||||
| 247.68 | 248.00 | 0.32 | 7800 | ||||||||
| 248.00 | 248.15 | 0.15 | 7800 | ||||||||
| 248.15 | 248.30 | 0.15 | 15100 | ||||||||
| 248.30 | 248.50 | 0.20 | 5100 | ||||||||
| 248.50 | 249.00 | 0.50 | 2200 | ||||||||
| 249.00 | 249.50 | 0.50 | 1400 | ||||||||
| 249.50 | 250.00 | 0.50 | 6300 | ||||||||
| 250.00 | 250.50 | 0.50 | 580 | ||||||||
| 250.50 | 250.60 | 0.10 | 5600 | ||||||||
| 250.60 | 250.70 | 0.10 | 12200 | ||||||||
| 250.70 | 251.00 | 0.30 | 7500 | ||||||||
| 251.00 | 251.50 | 0.50 | 1100 | ||||||||
| 251.50 | 252.00 | 0.50 | 320 |
Drill hole PLN22-036, located 630 m SE of discovery hole, PLN22-035, targeted the A1 conductor. An 8.5 m intersection of a graphite and sulphide rich deformation zone (355.3 m to 363.8 m) corresponds to the electromagnetic response, but no mineralization (>300 cps) was noted. The hole was terminated at 422 m.
Drill hole PLN22-037 also targeted the A1 structure about 830 m south of discovery hole, PLN22-035. The hole was terminated at 500 m in fresh granite gneiss and no mineralization (>300) cps was noted.
Raymond Ashley, Vice President Exploration, commented:
“It is a great start to the follow-up step-out drilling, that the strongly mineralized structure has been intersected. Two additional drill holes are planned near the high-grade discovery in the current program to establish the orientation and geometry of the mineralization. The two diamond drills and sonic drill on the property will continue to work in the immediate vicinity of the discovery hole for the remainder of the PLN fall drill program.”
Natural gamma radiation in the drill core that is reported in this news release was measured in counts per second (cps) using a handheld Radiation Solutions RS-125 scintillometer. The Company considers greater than 300 cps on the handheld spectrometer as anomalous, >10,000 cps as high grade and greater than 65,535 cps as off-scale. 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 depth measurements reported are down-hole and true thickness are yet to be determined. Samples from the drill core are split in half on site and are standardized at 0.5 m lengths. One half of the split sample will be submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK. for lithogeochemical analysis using their “Uranium Package”.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/146188_68c15d5fd4107826_002full.jpg
Note that there was a scale bar error in the Nov 21, 2022 Press Release where this map first appeared.
About Patterson Lake North:
The Company’s large 39,946 hectare 100% owned Patterson Lake North property (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Fission Uranium’s Triple R and NexGen Energy’s Arrow high-grade world class uranium deposits which is poised to become the next major area of development for new uranium operations in northern Saskatchewan. PLN is accessed by Provincial Highway 955, which transects the property.
Qualified Person
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 approved on behalf of the company by Raymond Ashley, P.Geo., Vice President, Exploration of Fission 3.0 Corp., a Qualified Person. Mr. Ashley has verified the data disclosed.
About Fission 3.0 Corp.
Fission 3 is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of the world’s largest high grade uranium discoveries. Fission 3 currently has 16 projects in the Athabasca Basin. Several of Fission 3’s projects are near large uranium discoveries, including, Arrow, Triple R and Hurricane deposits.
Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.
Fission 3.0 Corp. Contact Information
Investor Relations
Telephone: 778 484 8030
Email: [email protected]
www.fission3corp.com
ON BEHALF OF THE BOARD
“Dev Randhawa”
Dev Randhawa, CEO
Cautionary Statement: Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward-looking statements contained in this press release may include statements regarding the future operating or financial performance of Fission 3.0 Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Fission 3 Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable sec.
